THE BRITISH & CHINESE CORPORATION LIMITED.
3.
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-sible in priority for the interest and sinking fund for the moneys required in making the British section.
Having regard to the foregoing which marks a dissension in some important particulars from the views you express in your letter, I now refer to the alternatives stated in sub-paragraphs 1 and 2, and paragraph 5, and I regret that the Directors do not see their way definitely to accept the requirements enumerated or the alternatives proposed.
It does not seem to the Directors that there should be eventually great difficulty in reconciling the divergent views of the Secretary of State and themselves, but, in order to do so, and to arrive at a clear understanding step by step as to what is practicable and what is not, I would strongly urge that qualified persons should discuss the question and endeavour to arrive at a working decision.
I am
Your obedient Servant,
The Chairman.
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