1.

I suggest that we send Hong Kong at once a telegram on

the lines of the draft I am submitting. It would need to be

cleared with the Board of Trade but I think I could do that

It does no more

* quite easily because it is non-committal.

than hold the ring until Monday morning by which time I would

hope to be able to make a further substantive recommendation

which might, or might not, involve the suggestion that we meet

the Board of Trade once more. Fortunately Hong Kong have

discussions about cotton which I think they could be getting

on with before the contentious MMF issues are reached.

15 August, 1969

Mr.

(H. H. Stewart)

Hong Kong Department

Copy to:

Mr. Preston (Commodities Department)

I have nove quin The draft to BUT THE have promised commentö in half havr.

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