}
328
DRAFT.
the French Government, but from the papers
bofore him he gathers that Sir E. Grey was
prepared to approve the arrangement provided
that the Belgian interest was eliminated, that
the capital was divided in equal parts between
the Fritish and French Groups, and that the
Chairman of the Company was a British subject
appointed by the British Group and possessing
a casting vote.
6. The impression left on Lord Elgin's
mind, at the time, by the correspondence re-
forred to above was that the proposed agree-
mont would be purely a business arrangement
between certain British and French financiers,
the French not appearing in the negotiations
with the Chinese; and this view was con-
firmed by the statement in M.Franqui's
letter to Mr.Addis of the 11th necember 1905:
"In my opinion the best plan would be for you
to wire the Manager of the Hong Kong and
Shanghai
THE FOREXTON,5, TRG Staking t