[Enclosure—Extracts]
Minutes of a Meeting of the Consortium Council
Held July 14, 1924, in the Office of the Hongkong & Shanghai
Banking Corporation, London
Consortium Agreement. It was resolved [It was agreed to recommend]80
that the Consortium Agreement of October 15, 1920, remain in force
on and after October 15, 1925, subject to the right of any party
thereto on or after October 15, 1924, to give twelve months’
previous notice in writing addressed to the other parties thereto
withdrawing from such Agreement, and on the expiration of such
notice such party shall forthwith be released from all obligations
incurred by him by reason or arising out of such Agreement, and
shall cease to participate in any future rights, privileges and
obligations thereunder.
. . . . . . . . . . . . . .
Railway Development. At the invitation of
the Council Major W. S. Nathan, C. M. G., and Mr. S. F. Mayers
attended in person in support of their Joint Memorandum containing
proposals for greater elasticity in the working of Railway
loans.
It was decided to leave the Memorandum for further consideration in
order to enable the writers to discuss further the proposed
resolutions
[Page 551]
therein
contained with the object of meeting the views of the Delegates.
. . . . . . . . . . . . . .
Chinese Group. Referring to the original
declaration of the Consortium, made upon its meeting at New York,
October 15, 1920, expressing its desire to receive co-operation from
a Chinese Banking Group, it is the sense of the Council that the
Peking Representatives of the Consortium be requested to consider
again measures for undertaking at some appropriate moment
conversations with Chinese Bankers in order to discuss possible
means looking to the formation of a Representative Chinese Banking
Group organised to co-operate with the Consortium.
The meeting then adjourned.
- C. S. Addis
- R. Th. de la Chaume
- Thomas W. Lamont
- K. Yano
