is agreed that upon the coming into force of the present treaty the customs house of Tsingtao shall be made an integral part of the Chinese Maritime Customs. It is understood that the provisional agreeent of August 6, 19) between apan and China relative to the Maritime Customs office of Tsing-|} tao shall cease to be effective upon} the coming into force of the} present treaty. a Purcwasp oF THE Raitway.
(5) The Tsingtao-Tsinanfu Railway. Japan shall_ transfer to China the Tsingtao-Tsinanfu _rail-j way and its branches together with all properties and appurtenances! thereto including wharves, warehouses and other similar properties. China on her part undertakes to! reimburse to Japan the value of the railway properties mentioned in the preceding paragraph. The actual value to be so reimbursed shall consist of the sum of 53,406,- 14]. gold marks which is the assessed value of such portion of the said properties as was left behind by the Germans or its equivalent plus the amount which {Japan during her administration of the railway actually has. expended for permanent improvements on or additions to the said properties, less a suitable allowance for depreciation. It is understood that no charge will be made with respect to the wharves and other similar properties mentioned—in paragraph one of this article except for such permanent improvements or additions to them as may have been made by' Japan during her administration of the railway, less a suitable allowance for depreciation. The Government of Japan. and the Government ina shall each appoint three ioners to form a joint railway commission with powers appraise the actual value of—the railway properties on the basis defined in the preceding paragraph and to arrange the transfer of the said properties. Such transfer shall he' accomplished as soon as possible and in any case not later than nine months from the date of the coming into force of the present agreement. to effect the reimbursement under paragraph 2 of this article. China shall simultaneously with the completion of the transfer of the railway properties deliver to Chinese Government treasury notes secured on the railway properties and revenues of the railway and running for a period of 15 years but redeemable at the option of China at the end of five years from the date of the delivery of the treasury notes or at any time thereafter upon six months' previous notice. Pending the redemption of the said treasury notes the Chinese Government will select and appoint for so Tong a period as the notes remain unredeemed a Japanese subject to the post of trafic manager, another Japanese—subject to be chief accountant, jointly with a Chinese chief asecouniant with co-ordinate functions. These officials shall all be under the direction, contro], and supervision of the Chinese managing director and be—subject removal for—a Financial details of a technical character relating to the said treasury notes ave not. provided for. This article shall determined in mutual accord between the Japanese and Chinese authorities as soon as possible and in any case not later than six months from the date of the coming into force of the present agreement.
(6) The extension of the Tsingtao-Tsinanfu Railway. It is agreed that the concessions relating to the two extensions of the: Tsingtao Tsinanfa railway namely. the Tsinanfu Shunteh and the Kaomi-Hsuchowfu line will be thrown open for the common enterprise of the international financial croup on te to be arranged between the
Text read from the printed page and cleaned; old type leaves the occasional error.