-2-

total of 11056. Mr. Carroll is said to be British

born, and I have no reason, in conversation with him,

to disbelieve this. The company are in a good way

of business and are in good credit; so I find from the

private status book of Messrs. Seyds' which we have

here.

After hearing the whole of Mr. Carroll's state-

ment to-day, and questioning him about it, it appears

to me that the main facts which underlie the position

are the following:

Sanders, Rehders & Co., are a British Company.

They own the agency in South China for the Texas

011 Company.

Their local agent, Mr. Cheetham a Lancashire man has executed a contract with them, undertaki to have no further connection whatever with his former employers - Reuter Brockelmann

Shanghai.

Reiss & Co., the old British-China merchants acting as advisirs in Hongkong - rather gather

are

to satisfy the Authorities there bu Cheetham is the practical man who does t work, and apparently has done it well.

Under the circumstances I feel that Sanders, Rehd

& Co., Ltd., should be upheld, and I feel this more

strongly from the fact that there is a danger of the

agency falling into the hands of Mitsui.

This latter event I would regard as a severe blow

45372/15.

SANDERS, REEDERS & CO., LTD.

Registered December 1906.

Capital £75,000 in

4,450 Preference shares

10,550 Ordinary

of 25 ench

of which

634

4,000 Preferences have been issued as fully paid

and 7,056 Ordinary have been issued for Cash.

Last Report is dated April 7, 1915.

DIRECTORS.

Hermann Sandera.

1. J. Carroll.

(Max Oehme having been removed)

Hermann Banders

Teréze Sanders

C. Wells

SHAREHOLD:45 -

Preference.

2,400

urdinary

3,003

450

2

1

Beinhard Lackau (108, Fenchurch Bt.)

Max Oahma, (Kanchester)

200

600

0. A. Krieg (deceased) Manchester

400

H. Schiff, (Berlin)

1.800

. Sobenheim (Berlin)

800

R. P. Goldschmidt (Manchester)

150

H. L. Goldschmidt (Manchester)

300

3. J. Carrell (108, Fenchurch Et)

1,150

4,000

7,056

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