not just a definite term of 5 or 3 years for settlement costing down to 3 years being fixed during which the Canadian Camp. might
be subject to a fee to land.
He first argued 5 but often said 3 years. Cables. He said they were youths from Baltimore frequently had a visit from Two Rippon, the manager of the Bermuda Cable Camps, who is also interested in the "Canadian Camp." referred to.
Satisfied with the American aspirations, I told him nothing but uncertain how the Canadian Camp. stands.
He said that they could not work without a Canadian subsidy, that it was a new thing for Canada to provide a subsidy, and that this year they had their hands full owing to an enormous subsidy they are offering for divers Sham common with suglands same; but that the whence will be rather upwards for next year.
They propose an extension from Hong Kong to Singapore, nor touching Hong Kong & Shanghai with the China traffic (which Pender incidentally told me was worth a quarter of a million sterling), but they expect to get Australian traffic & share of the traffic to compete with the Eastern Company as far as Bombay.
There is no foundation of further expectations in explaining Pender's anxiety to establish a monopoly at the two important ports, Hong Kong & Singapore, by refusing Pender's offer to form a direct line, like Lalman & Co.