RESTRICTED
CYPHER/CAT.A.
HONG KONG TO EXPORT CREDITS GUARANTEE DEPARTMENT
TEX
EXCED 24
19 APRIL, 1968
106
RESTRICTED
ADDRESSED EXPORTCRED LONDON EC2 TELNO 24 OF 19TH APRIL REPEATED
BOT LONDON SW1.
EXCED BT024 FROM HANNAM TUNNEL.
105 MY EXCED 23. THE TUNNEL COMPANY INFORM ME THAT CLAGUE AND
KADOORIE WILL FLY TO LONDON TO ATTEND THE MEETINGS WHICH SCALES
IS PRESUMABLY ARRANGING WITH COSTAINS AND GOVERNMENT DEPARTMENTS
TO DISCUSS THIS PROJECT. I GATHER THAT SCALES HOPES THAT THE
COMMONWEALTH OFFICE CAN BE PREVAILED UPON TO FATHER THESE MEETINGS.
APPARENTLY THE HOPE IS THAT THEY WILL BE MORE NEUTRAL THAN
OTHER DEPARTMENTS MORE DIRECTLY INVOLVED.
2. I HAVE QUESTIONED THE COMPANY ON THE POWERS OF THEIR DELEGATES.
I GATHER THAT MARDEN THE CHAIRMAN IS UNABLE TO GO TO LONDON,
AND THAT NO FIRM DECISION CAN THEREFORE BE TAKEN WITHOUT REFERENCE
BACK TO HIM. AS YOU PROBABLY KNOW THE WHEELOCK MARDEN BOARD
LED BY ANGUS OGILVY HAVE PUT A FIRM LIMIT OF 23.20 MILLION DOLLARS
ON WHEELOCKS PARTICIPATION. BROTHERS WAS (FOR ONCE) QUITE FRANK
WHEN HE SAID THE IMPENDING MEETINGS WERE THE TUNNEL COMPANIES
LAST THROW.
14.
3. YOU CAN PRESUMABLY OBTAIN THE TEXT OF TUNNEL COMPANY' S
TELEX OF 17 APRIL TO ROONEY OF COSTAINS OUTLINING THE FINANCIAL
CONDITIONS THEY WILL PROPOSE TO YOU.
LAST RCF.
NEAT
KEF.
105
104
RESTRICTED
RECEIVED IN ARCHIVES M 63
2 2 APR 1968
HWB 21/5
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