Speyer Concession

Salient Points in the Speyer's Concession

1.  They Agree to build 428 miles, more of less, of railroad throughout the Island of Luzon, including roughly 100 miles in Albay and Ambos Camarines, the line from Manila to Batangas and Lucena with branches, and several branches from the existing line of the Manila and Dagupan Railway, branching to the east and to the west, but principally to the east and including a line from Dagupan to San Fernando De La Union and a branch to the foot of the mountains within a few miles of Baguio.

2.  No Guarantee is asked on any of this construction.

3. While the rates are to be based on those now enjoyed by the Manila and Dagupan Railway the government has the power to regulate them at any time.