PRIORITY.
T.S.Carter
PRIORITY
Governor,
Hong Kong.
HWB.21/5
CONFIDENTIAL
14
Confiderial
(regial sent for dispatch
3/4
Căpied to:-
J.A.B.Darlington, C.R.E.Department.
R.S.Kinsey, General Division, Board of Trade.
C. C. Lucas, H.K.Treasury, Gt.George St.S.W.1. C.M. Drukker, E.C.G.D.
Hong Kong Tunnel.
As you know, Cross-Harbour Tannel Company are
considering tenders submitted. Clague has been pressing
Costains for improvement in proportion of contract price to
be covered by loan guaranteed by E.C.G.D. and for removal of
the requirement for # joint and several guarantee§.
2.
Claque also put these points to Snelling in Hong Kong.
The latter point was not however raised in subsequent letter
Clague sent to Lord Rhodes which has been referred to
Lord Brown in Board of Trade for reply. It has therefore been
remwal of requirement fad assumed that question of guarantees from shareholders is not
being pressed by Clague and we would not in any case wish to
encourage him to return to this point. For the reasons outlined
Sec
kbàww, we
waived.
er no prospect that this requirement could be
13.