In 1918, a sum of £17037, 8s. 14. was advanced to the Ministry' by the Marconi Wireless Company for the construction of three are stailons in. Kashgar, Tihwa, and Urga, At the end of 1994, principal and accrued Interest amounted to £476270.11-1¢. The Ministry has now made an arrangement with its representative: the interest amounting to over £300, iph 000 is renotneed by the company, the principal of £170,000 is to. be paid within 20 years and bears no Interest with a "monthly instalment of £709. 185. Od. Through its frlerdly relations with the Ministiy, "the company is willing to place one half vf-each of the monthly instalments fo the Ministry's credit which will be applied for the payment of cost of material to be purchased from the Maroon! Ca. or for the tuition fees for the training of engineers sent by the Ministry to the company's college at Chelmsford.
The Minisiry of Commu: icaions at Peiping owed sums to the China Electric Company, of which the Ministry is a shareholder for the materials supplied by the latter, With the exception of the promis sory notes issued by Tientsin Telephone Office which has to be dealt with separately, the sum of US+$1, 513,378.40 comprising principal and interest up to the end of last year has been arranged, through protracted negotiations, to be paid back {in the following manner. The Ministry pays to. the company every month U.S.$3,000 for repayment of rineipal, and the dividend recelvable by Ministry is to be treate' as Interest up to 3 per cent. of its.shares in the company. If the conan makes no profi, or sustains any loss, no interest ig to be charged. If on the other hand, the dividend exceeds three per cent. of the Ministry's stock, the excess is to be added to the monthly instalments for repay. ment of principal. AS soon as. the monthly payments and the dividend in excess of three per cent. reach the sum of U.S.$900.000, the payments are to be discontinued and the debt, is, considered as cleared off.
Miscellaneous Debts (5) The Ministry of Communica tions at Peiping has purchased different times from Siemens China Company materials for the telephone extensions at Peiping and other misccellancous materials which amount U.S$271.10099 at. the prevent moment. The result of nes is tions to clear off the debts by pa the [company U.S.$60.000 by monthly Instalments in a period of ten years. The company is also willing (Continued om page 234.)
Text read from the printed page and cleaned; old type leaves the occasional error.