. Review of reviews and world's work . pening of Chinese car-building-shops. In the case of the Tien-Tsin-Pukow Railway tenders for eight locomotives duly advertisedin advance were opened on the 29th June, 1909,and although the American tenders were lowest,the contract for six was awarded to a Britishmanufacturer, and only two ordered from thelowest bidder. In another case the American manufac-turers bid strictly to specifications, yet,although they were nearly £300 ($1,500)lower in price on each engine, the contract ,was awarded to British makers. / On the 20th of May last an agreementwas ent
. Review of reviews and world's work . pening of Chinese car-building-shops. In the case of the Tien-Tsin-Pukow Railway tenders for eight locomotives duly advertisedin advance were opened on the 29th June, 1909,and although the American tenders were lowest,the contract for six was awarded to a Britishmanufacturer, and only two ordered from thelowest bidder. In another case the American manufac-turers bid strictly to specifications, yet,although they were nearly £300 ($1,500)lower in price on each engine, the contract ,was awarded to British makers. / On the 20th of May last an agreementwas entered into between the ImperialGoverment of China, of the one part, andthe Deutsche-Asiatische Bank, the Hong-kong & Shanghai Banking Corporation, theBanque de 1 Indo-Chine, and the Americangroup (J. P. Morgan & Co., Kuhn, Loeb &Co., the First National Bank, and theNational City Bank, all of New York),of the other part, for the loan of six millionpounds sterling ($30,000,000) for the con- 610 THE AMERICAN REVIEW OF REVIEWS. H. CORDES E. G. HILLER M. CASENA\ E \V. D. STRAIGHT (Deutsche-Asiatische Bank) (Hongkon^ & Shanghai Bank) (Banquc de Ilndo-Chine) (American Group) THE PEKING REPRESENTATIVES OF THE FOUR FINANCIAL GROUPS struction of the Hupei-Hunan Section ofthe Canton-Hankow line and of the Hupeisection of the Szechuen-Hankow 18 of this agreement concedes tothe British and Chinese corporations andthe Deutsche-Asiatische Bank the exclusivepurchasing rights for the entire was subsequently agreed between therepresentatives of the four groups thatproper provision should be made for thereceipt, on an absolute basis of equality,of tenders from British, German, French,and American manufacturers. This, says,Mr. Rea, is Chinas last opportunity toprove her good faith. The engineer of each loan-built railway hasin the past been a law unto himself, and set hisown standards and drew up his own specifications,and then when competition was admitted at all,it was r
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