3 -
521
I
chargeable on the selling prices in China, instead of on the New York f.o.b. prices, of the 011.
As to point 4 it was, and is manifestly in our own
interest to arrange with the Texsoo this change of charging the
commission, and it is also clear that our being unable to ar-
range this point could not in fairness be considered as invalida-
ting these September understanding8.
However in order to at last arrive at a
*
settlement
so long desired, not the least by your bank I proposed to my partner (about a week ago, by cable) to offer Reise, instead of this change in charging the commission, that we would pay them 3 A, instead of the 2 1/2 % arranged for.
-
-
which moreover is just
I should mention further that, when we insisted on
retaining Cheetham for reasons stated, Reiss insisted that we
should pay his salary. As this matter has however since set-
tled itself by Cheetham's elimination what Reise desired all along surely also this point should be considered as settled; quite particularly in view of this fair and spontaneous proposal of ours to increase Reiss's commission by 1/2 %; an increase constituting an absolute loss to us, as against the September terms. (N.B. I assume here that my part- ner has agreed to this increase).
Now, while awaiting a propitious moment to press Reiss's appointment and during informal discussions with my friends, I was confronted by two serious difficulties, apart from the fact that they were generally very bitter because of all the troubles caused to their agent, Cheetham, and above all because of the discreditable doings of a certain firm of liquidators.
Firstly, they had experienced bitter disappointment in regard to a certain prominent British firm which even went so far as to refuse their valuable agency for North Chine (which was therefore lost to British interests) because of the Texaco1a
practice and justified wish to make no contracts of long dura- tion; the granting of an agency of this kind being in itself
14
r