In Fiddes, with best regards a copy of this form is sent firm to firm, leathan.

Concurred.

It has been privately noted.

See his note below.

The scheme while on Cuil Smith and be Fiddes have worked out with great ability, seems to offer the only practical means of dealing with the situation to hand.

Long Por. & Chinese Corporation holds the Concession. Things would have been handed to simplicity and to sanity if we could have avoided them altogether. It is sufficiently clear that they lack the wherewithal to profit out of financing the Scheme and in any secondary degree, out of a 5% Commission on capital, in the case of the Shanghai line, on which this concession leaves too little concern in the Colony.

Under their agreement, the actual success of the line that they have packed with their claim in its profits & losses is to be made over to the bondholders in order to enhance the value of the bonds.

But no authority holds the Concession.

Mr Lucas 565 33877

M. Lyttelton Nov CH

We are not sure whether Mr ... had seen the laboured minute. Mine 3 Nov and Sir M. Ommanney's of same date.

Some minutes are written on an earlier Sheet.

Regarding negotiation: Will you allow the forwarding provisionally or do you wish them to be held up until we hear from Sir M. Natter? It will not receive the memo...

Page ...

However, to follow the exact instructions given and output only HTML using `

` for paragraphs, the corrected version without the "Page ..." line (since the exact page number isn't specified) is:

In Fiddes, with best regards a copy of this form is sent firm to firm, leathan.

Concurred.

It has been privately noted.

See his note below.

The scheme while on Cuil Smith and be Fiddes have worked out with great ability, seems to offer the only practical means of dealing with the situation to hand.

Long Por. & Chinese Corporation holds the Concession. Things would have been handed to simplicity and to sanity if we could have avoided them altogether. It is sufficiently clear that they lack the wherewithal to profit out of financing the Scheme and in any secondary degree, out of a 5% Commission on capital, in the case of the Shanghai line, on which this concession leaves too little concern in the Colony.

Under their agreement, the actual success of the line that they have packed with their claim in its profits & losses is to be made over to the bondholders in order to enhance the value of the bonds.

But no authority holds the Concession.

Mr Lucas 565 33877

M. Lyttelton Nov CH

We are not sure whether Mr ... had seen the laboured minute. Mine 3 Nov and Sir M. Ommanney's of same date.

Some minutes are written on an earlier Sheet.

Regarding negotiation: Will you allow the forwarding provisionally or do you wish them to be held up until we hear from Sir M. Natter? It will not receive the memo...

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