CO129-404 - Acting Governor Claud Severn - 1913 [10-12] — Page 347

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We hope that you will take note of the fact

that the price which we have tendered for the erection

of these Stations is an extremely low one and the

margin of our profit is small. We cannot naturally,

obtain Bonds without paying interest on the same and

we therefore hope that you will favourably consider

the proposition which we now make.

In the event of

We submitted to you five tenders for the

erection of Wireless Stations at Penang, Singapore,

Hong Kong, Barbados and Lombaesa. your placing an order with us for the erection of only

the first four of these stations, we are content that you

should defer payment for the amount of £700 per station

and retain this sum as a security for four months

after the completion of the work.

If you desire to retain this sum for a period

of one year after the completion of the Stations, we think it only fair that you should pay interest on monies so retained at the rate of Five per cent (5%)

per annum.

In the event of your placing an order for all the Five stations for which we tendered, our profit would be increased and we should be prepared to agree that the gum retained as security should be £1,000 per Station for four months after the completion of the said stations, or, if desired, one year, interest

being paid as above.

We are,

etc..

THE ANGLO FRENCH WIRELESS COMPANY LIMITED.

Signed.-

Basil Binyon.

General Manager,

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