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of the reply received from the Liquidators. The latter communication stated: -
(1) That a cable had been sent by Happin & Webb on
behelf of themselves and the other large principal English Creditors. (2) That a portion of the merchandise supplied had been sent
out on consignment and was not Messrs Gaupps' property.
(3) That in the opinion of the Creditors in London acting in concert, if the business were being closed compulsorily it would be to their advantage to send a representative out jointly with
a view to assisting the liquidators and possibly opening a similar business to Gaupps of an entirely English character with a view to developing the market for English goods.
(4) Enquiring as to the position at Singepore.
(b) Intimating that the Liquidatore' further letter with full particulars and recommendations was awaited.
(6) A postscript intimated that Mappin & Webb's representative might be visiting the East and in that event could call if necessary. (As no reply was received to the suggestion, the visit has not
been made).
On January 25th 1915 the Liquidators wired that the Hong Kong & Singapore Managers proposed buying the stock and would accept the Agency might they transfer it, and an immediate reply was requested.
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On January 26th 1915 the following cable was addressed
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