CO129-551-4 Canton-Kowloon Railway Working Agreement 16-11-1934 - 5-12-1935 — Page 62

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His Excellency

Mr. Ku Meng-yu,

Minister of Railways,

NANKING.

Sir,

31st October 1934.

62

CANTON KOWLOON RAILWAY

LOAN OF 1907

I beg to inform Your Excellency that the half-yearly interest and annual instalment of principal, with Bank's Commis-

sion, on this loan, becomes due for payment on the 17th November

next, as follows:-

Interest

£ 27,787. 10. 0.

Instalment of principal

Bank's Commission

85,500. 0. 0.

283. 4. 4.

£115.570. 14. 4.

As Your Excellency is aware the Canton Kowloon Railway

Administration is unable to make payment of the amount due from

revenue at the present time; I beg therefore to enquire what steps

your Ministry propose to take to make provision for this payment

on due date, in accordance with the unconditional guarantee of

the Chinese Government under Article 14 of the Loan Agreement.

The arrears of the service of this Loan amount to

£1,272,849. 3. 0, and, with the sum payable on the 17th promimo,

the very large sum of £1,386,419. 17. 4. will be due, as will be

seen from the accompanying statement which I shall be obliged

if your Ministry will confirm as correct.

/ I