§ 5. Sir J. D. REESasked whether the agreement between the Standard Oil Company and the Chinese Republic includes the right to construct pipe lines and railways and a guarantee that the Republic shall acquire and make over to the company all lands needed for the development of its operations, and shall exclude other foreigners for a year from oil concessions in China; and whether His Majesty's Government is taking any steps to benefit British trade and British subjects in the opportunity afforded by the retirement of the United States from the loan consortium?
§ Mr. ACLANDThe answer to the first part of the question is in the affirmative. As regards the second part of the question, the effect of the withdrawal of the American group from the six-Power consortium was that the American share of the loan was divided up amongst the remaining five Powers, whose position remained otherwise unchanged.