Bowden are prepared to deposit namely, 21,850 is
very approximately 5% of £400,000, or 5p of the
total value of the contrast, although the firm im
acoased, in the telegram of the juronasing committes
of October lúth, of having broken its promise by
refusing to make saoh * "cash deposit". shether the
firm ever agreed to a osun deposit is more than
doua tfal in view of its letter of the 5th August
where the "lodgement of a bond" is specified,
31
The suove comalasion appears to be confirmed
by copies of three additional telegramɛ walen Er.
Stratton bas just shown to me. one of these is from
the nongkong and Shangkal Bank (acting on behalf of the
Chinese Government) to
ernment) to the Bank of
the Bank of astralesie, dated
10th September, which states, "You say bay nader
[007 L/C 90% invoice oest of goods bills at sight
for 2E3,250 0.1.f.
To this the bank of astralasia
Howdow
replied "Re your wire Bowden Brothers prepared to
dejouit with Bank of Ametralia either 51⁄2 of value of
contraat roading couplotion of control -
elternately 10% of involes value of esch shipment
pending monthly overturn - -
shipment during
October and monthly thereafter not exceeding 8,000
sleepers in any one bottom";
and in another telegram
*ia iles of deposit controlled by one party Bowden
Brothers offer lodge with us 21,200 deliverable orders
of themselves and your Australian nominee", I take
this to mean that the zurchasing Commission wished to
oh
obtain the 10% guarantee by itself paying (antil
completion of contract) only 90% of the price agreed
apon/