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consulting engineer and is on the Board of other Companies, as also is the Managing Director, Mr. W. B. Cownie.

5. It cannot be said, horever, that the Company has been successful in a financial sense uring recent years, nor is there evidence before us to show that its present financial resources are strong,

5.

We sent you some previous siziler informationm-O- respecting the Company.in reply to your letter No.31047 of the 31st December 1910.

I have the honour to be,

Sir,

Your obedient Servant,

Plecchus

for Crown Agents.

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