Telegram from the Governor
and awu I Að dap
resided bil, da
RCC for 62 STAW
*
ted Co to aedunia
20. da bauiore od nezeri
DA BAINIKA
800
of his) over the two questions of the issue price of
the loan and the commission to the Corporation on materials purchased, and appeared to think that Legation intervention was necessary.
From the minutes it seems that Mr. Tung Shun-yi,
who is the spokesman of the Chinese negotiators, proposes a fixed price of $96 for every $100 issued, or over 4 points below the actual issue price; Mr. Bland refuses a fixed price and requires 2 points below issue price. As regards commission Mr. Tong offers 5% on purchase of British materials only, with the understanding that British goods, after tender, shall have preference at equal prices; Mr. Bland wants 5% on all materials purchased outside of China.
These two points of difference, however important to the financial interests of the Corporation, did not appear to me to be so vital to British interests as Mr. Bland evidently thought them, and from my knowledge of Mr. Tung and his strong objection to Legation intervention in questions of bargaining, I felt certain representations from me at this early stage of the negotiations, in order to obtain