§ 43. Sir C. KINLOCH-COOKEasked the Secretary of State for Foreign Affairs what steps he proposes to take to safeguard the existing issue of municipal debentures in any negotiations which may be entered into regarding the future of the British Concession at Tientsin?
§ Sir A. CHAMBERLAINIn order to secure the Loan Service, a committee of the ratepayers of the British Concession at Tientsin proposed the establishment of a legal mortgage in favour of trustees for bondholders over the profit-earning enterprises of the municipality, namely, the Electric Power Station, Waterworks and Wharves, and a specific annual charge over a portion of the income derived there from. It was also proposed to make available for amortisation the sum actu ally recovered on account of filling in the low-lying land in the Extra-Mural Area. A telegram received from His Majesty's Minister reports that the amended Trust Deed was initialled by the British and Chinese delegates on the 22nd April, but I have not received as yet a copy of the amendments.