Messrs. Reise & Co.
March 13th, 1916.
599
American bank which is also in the group of bankers assisting kr. Morgan in financing the Allies, is in fact offering at the present time the Anglo-French Loan to its constituents.
In this regard I cannot do better than quote what I wrote to
your London friends, viz:
"And, as if my cup of bitterness is not full enough, no sooner had I financed the cargo with this Al Al American Bank, of which New Yorkers including the Texas Co. are justly proud a concern with a capital of twenty million and surplus of twenty million - when I was told that it had been put on the British blacklist !
The fact that this ban was promptly removed, i.e. within thir- ty-six houre (by the Foreign Office), makes it not less repellent,nay accentuates the absurdity.
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However, to retum to this fresh difficulty, as you will ace from the enclosed copy of my last letter to Mr. Wade Gardner (25th inst.), all my endeavors to keep the important China part of the busi- neas in British hands entirely in your/ours and the H.& S. B.C.'s - have once more been upset, although I hope to right also this matter, having by now become quite an expert in this line.
The Guaranty Trust, resenting this aspersion, has now asked Le to withdraw my condition, striot as it was, that the Hongkong Bank retain this business; and their ground is a reasonable and strong one (see paragraph 1 on page 2 of the oopy)."
The matter is pending still today, and I am therei ore unable
to write you definitely about the financing of this cargo. However, the "Tancred" is a slow-coach and will not be in Hongkong before middle of Kay
so there is, fortunately, no hurry to send out the documenta which are still lying untouched at the Guaranty Trust Company
the 21st. ulto.
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Bince
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Youre faithfully,
signed: H. Sanders
kanaging Director,
Sanders, Renders & Co., Ltd.,
London, E. 0.
the Trust Company desires to send the documents for collection ough an American bank the International Banking Corporation.
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