New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-15
THE HANKOW-CANTON LINE.
TERMS OF THE CHINESE RAILROAD CON
CESSION TO THE AMERICAN
SYNDICATE.
From The London Globe.

From The London Globe.
d F5GeEsa dopy Of quT the of
ment entered into between the American syndicate
which has undertaken the construction of the great
Hankow-Canton Trunk Line and the Chinese Gov
eminent. The following is condensed report OF
Under an imperial edict His Majesty the En-
peror Of China has granted to His Excellency
the city of Hankow Canton and Chinese COM
pany has been formed. under imperial sanction.
called the China Railway Company, OF which
His Excellency Sheng Tajen is to be director gen
eral. His Excellency has. however. deputed his
Exceency wa Ting Fang to enter into a contract
with the Amercan-China Development Company by
which the latter-named company agrees inter ala
10 provide sum Of four millions sterling for the
eonstructon ana e9pmemt OF tne rond IN Greer
ment has agreed tn, imperial gold bonds, similar
h 2r b is ssed pSn h e cu Of r mons
gage on the railway and It's appurenances. These
face value to the American-China Development
Company, will be sealed by the director general
of the Chinese Railway Company and counter
signed by the Chinese Minister at Washington. and
will carry interest at the rate of per cent per
at liberty to issue these bonds to the public at dis
count or otherwise, and II further agrees to con-
which. however are subject 10 the approval of the
director general of the railway
There is an important proviso In the agreement
which after stating that the line shall be built and
equipped in accordance with the best modern sys-
tens. states that. If thought necessary. the com
paniy span nave ne right not only to build ana
sea. and 10 such other places may be agreed
upon with tho Dlrector-General. or in other words
deemed advisable 10 insure important traffic con
necticns. In connection with the construction. ad
minStratl9n: or management, IT Is TO be expressly
understood that particular heed shall be paid TO
the opinions. habits and IDEAS Of the Chinese PEG
construction or management. they are to be con
IT s practicable the American-Ch ina Company has
agreed 10 employ Chinese In places of trust and
structiOn and the administration of the railway
1t Is important TO note that, with reference TO the
approved Of no Interference or obstruction either
OF Chinese foreigners. Will be permitted nor shall
the work of the surrey party be In any way ham
pered.
The fourth clause Of the agreement provides that
purchased in the open market al the lowest price
II. however Chinese materials can be had "a
cheaply they are 20 be preferred. All materials
however. which may De required and purchased
outside China are TO be admitted free OF duty in
manner similar to that adopted In the case OF the
Chinese imperial railways in the North. To COM
tendence. IT Is to receive per of the cost OF
consttrnciion except land and earthworks.
traffic, the Amcrican-Chna Company. subject to
the approval OF the Director-General. shall appoint
nGm 1S re b as b he or
formed ana officials shall obey the orders of this
The sixth clause Is a somewhat peculiar one. Pro-
vidng as II does for the ordinary expenses In main
an9 II goes on TO STATE thar the
been paid. receive ~ per cent OF the net profits.
amount equal to one-fifth Of the cost OF the
line" These 10 be issued at the same time az
the first mortgage bonds the Chinese American
Railway to have the right TO redeem these at any
time At par and II not redeemed shall expire after
forty-three years without payment
There Is no time Intended TO he lost. Immediately
upon the signing Of this agreement the survey ia
20 be commenced. and the line must be completed
within three years. the expenses OF the survey
being borne by the Chinese Railway Company and
by the Amercan-China Company Jointly.
The first mortgage bonds shall have "A tenure OF
fifty years, and 10 be redcemable any time up
10 twenty-1v years from date OF issue at lou.
for every 500. but az any period after the redemp
ton price shall be par value-Sl00 When these
bonds are paid OFF the Chinese Railway Company
may II 30 disposed. elect to take the entire man
agemen into its hands. and may dispense
with all or any foreign officials.
In order 10 insure the due funment OF this CON
tract. II Is provided that soon az IT has been
signed tho AmerIcan-ChIna Company shall deposit
In trust at Washington 100000 II within six
line then II Is to be forfeited should however.
this condition be complied with. this sum will be
handed back 10 the Amcrican-China Company
not be LETT In the cold "a 10 the methods Of con-
struction and IT Is provided that the American
china Company shall establish NJ It's own expense
Chinese In matters pertaining TO railway construc-
ammunition are 10 be carried at half cost. and
shall have priority other traffic. clause
strictly prohibiting any interference with the terms