Copy.

Canton,

Our last letter 21/12.

Your 1

25th January, 1915.

27/11 and 16/12.

Lessrs. B.Rigold and Bergmann,

69 Bishopsgate,

London, E.C.

569

Dear Sire,

Since writing you last we are in receipt of your two above named favors, the contents of which we have read with interest and in reply to your communications we beg to refer you to the letter of our Shanghai friends dated the 18th of December last year.

Regarding the present state of the Canton market we are sorry we have nothing more favourable to report to you; we are nearing Chinese new-year and as in former years business has become even more stagiant.

We hope for an early termination of the war and a general improvement of affairs all round in it's trali. In the meantime, we remain,

Dear Sira,

Yours faithfully,

MELCHERS AND CO.

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