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chargeable on the selling prices in China, instead of on the Bew York f.o.b. prices, of the 011.
Aa to point 4 it was, end is manifestly in our own interest to arrange with the Texaco 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 understand inge.
However in order to at last arrive at a settlement
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so long desired, not the least by your bank I proposed to my partner (about a week ago, by cable) to offer Reiss, instead of this change in charging the commission, that we would pay them 5, instead of the 2 1/2 % arranged for.
I should mention further that, when we insisted on retaining Cheethem for reasons stated, Reiss insisted that we should pay his salary. As this matter has however sinoe Bet-
tled itself by Cheetham'a elimination
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which moreover is just
what delas 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 Reisa's gommission by 1/2 ; an ingrease constituting an absolute lose to us, sa against the September terma, (N.B. I abzume here that my part- ner has agreed to this increase).
How, while awaiting a propitious moment to preas Reiss's appointment and during informal discussions with my friends, I was confronted by two serious difficulties, apart from the feat that they were gemrally very bitter because of all the troubles caused to their agent, Cheethan, and above all because of the discreditable doings of a certain fim of liquidators.
Firstly, they had experienced bitter disappointment in regard to a certain prominent British firm which even went so far es to refuse their valuable agency for North Chins (which was therefore lost to British interests) because of the Texaco's practice and justified wish to make no contracts of long dura- tion; the granting of an agency of this kind being in itself