THE BRITISH AND CHINESE CORPORATION, LIMITED,
Telegraphic Address: SICAMERIST, LONDON
603
3, Lombard Street, London, E.C.
December 5th, 1904
41961
12 DEC 04
G.
V. Fiddes Esq., C.B.
Colonial Office,
Downing Street, S.W.
Dear Mr. Fiddes,
I have submitted your letter of the 17th ultimo to
the Board, who have given it their careful consideration.
The Board, and particularly those members who are
conversant with Railway practice, feel that we could not justify
Condition L to the Chinese and to the public who will be
invited to take up the Loan.
The common practice in working Agreements appears to
be to pool and divide in agreed proportions the through traffic,
but not to pool the traffic which is entirely confined to one
or other of the associated Railways.
This practice seems to the Board to be the equitable
method of dealing with the traffic, and I am requested to express
the hope that you will see your way to arrange a further
conference to consider the matter, which the Board regard as
important.
I may add that if this principle should be adopted