This Document is the Property of His Britannic Majesty's Government.
# CHINA TRADE
## CONFIDENTIAL
No. 1.
No.
RECO 40991 & April FECOS SECTION 1. 720 Jacqui que
Sir E. Satow to the Marquess of Lansdowne.---(Received April 9.)
(No. 3. Treaty. Confidential.) My Lord,
Peking, February 23, 1904.
I HAVE the honour to report that Senhor d'Azevedo Castello Branco presented to the Emperor on the 20th instant his credentials as Envoy Extraordinary and Minister Plenipotentiary of Portugal. When he was here before, from the 13th January to the 16th October, 1902, he was on a special mission. He is also accredited to the Court of Siam.
My colleague informs me that the real reason for postponing the ratification of the Treaty, of which the conclusion was reported in my despatch No. 306 of the 22nd October, 1902, was that to ratify it would have deprived him of a trump card in his negotiations for the projected railway from Macao to Canton. He has some hopes of being able to arrange this matter with Sheng Kung-pao through a special Agent, who will be sent to Shanghae for that purpose. It is also his intention to negotiate a new Commercial Treaty on the same lines as Sir James Mackay's Treaty.
I have, &c. (Signed) ERNEST SATOW.
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