To the Editor of the '"Nosu-Cutnva Datty New:
Sin—I_ am afraid there is very little" authentic information avail fable as to why the bondholders are being treated in such an off-hand antes bythe Chinese Goverament agreement between the Chi-inese Government and The British asd Chinese Corporation is 33 Opive per cent, Shanghai-Nanking Railway Sinking Fund Gold. Loan (2908), £3,250,000—Tasued £2,900,- 000 im "bonds of $100. each a3 Hfollows:—July 1904 42,260,000. at 97. 10, and January 1907 at Sapanese, by choice and faith I am the Chinese Government, Confucian and Christian; but by The loan is a first charge on the ithe years of my life, by sympathy permanent way, rolling stock and land feeling, 1 cannot help being entire property, with freight and Chinese, American, as well as Japan earnings from Shanghai to Nanking ese. Hence, itis dreadfully painful Jand from Shanghai to Woosung. fo\witness an endless prolongation In defoul of payment of prin-lot Fraternal dissensions or an interjeipal and interest the railway and minable perpetration of ghastly car-all its appurtenances will be handed lover to the British and Chinese rae Sy only fear nowadays that my appreciation of the splendid [Corporation to be dealt with in such traits and qualities of the Chinese manner as will insure the proper may result in. the undue premium [protection of the interests of the Placed on what a most enlightened bondholders.
The loan is for fifty years, but the bonds are redeemable at six cantho notin after twelve and. corruption and In the meantime, li those out-102 10, and after: twenty-five ars up to twenty-five years siders to the Sino-Japanese imbrolio are advised to observe what Dr. years at par, at the option of the john V. A, MacMurray, a sane, Esinece cocrment the redemption sound, candid. scholar and former ing by drawl 'The bonds are of £100 denomina-'Ameria Dinistey to China averted other, day. "It behooves us," tion, and both principal and interest said he, "in "a spirit of goodwill are' payable in London. at the towards both the powers concerned, Hongkong and Shanghai Bank. to confront the practical question Despite the unsettled state of without emotional bias of partisan-the importance of this line ship' for or against one contestant factory and taking into con-Jor the other." This is what George sideration that no annual report Washington sagaciously enjoined his issued by SIN-R, Ca, a bondholder countrymen a century ox #0 ago, He is justified in asking the following. then warned his compatriots not bbe too passionate, nor to be too jealous to other countries, that 13, not to be too pro-Galician or too If so what happened to the pro-Anglican, revenue during the years 1918-23 'What you have logically deduced when the exchange was in favour in yesterday's. leader may remain tue, who knows? You went to the length of saying tha What happened to the two Report and' the Leag months' revenue December-January thereon have achieved following the ist payment of me terest on December 1, 1930 ud previous to the trouble in 19817
Also the revenue ince the railway has been reorganised since ithe trouble: in 1981?
Allowing for the decrease in revenue during the trouble, has the Chinese Government footed the bill for the transport of Government troops due to the railway autho ties and if not why not?
Be that as it may, even fools [could learn from bitter experiences, [Let 'China' and Japan. be wise, re solute and diseréot and east in their ets with the spirit of international partnership and comradeship, which ave the only true guide to them of Who ix responsible for issu: ing the large number of free season, tickets?
Tt is high time that the Brit. ish and Chinese Corporation deal with these matters seriously and see that the terms and obligations Taid down in the agreement are carried out.
Axorier BoNDHOLDER.
Text read from the printed page and cleaned; old type leaves the occasional error.