His Excellency,
Hioki Eki,
Japanese Minister.
—Reply—
Peking, the 25th day of the 5th month of the 4th year of Taisho.
Excellency,
I have the honour to acknowledge the receipt of Your Excellency's note of this day's date in which you state:
"If in future the Hanyehping Company and the Japanese capitalists agree upon co-operation, the Chinese Government, in view of the intimate relations subsisting between the Japanese capitalists and the said Company, will forthwith give its permission. The Chinese Government further agrees not to confiscate the said Company, nor, without the consent of the Japanese capitalists to convert it into a state enterprise, nor cause it to borrow and use foreign capital other than Japanese."
In reply, I beg to state that I have taken note of the same.
I avail, etc.,
(Signed) HIOKI EKI.
His Excellency,
Lou Tseng-tsiang,
Minister of Foreign Affairs.