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ordering goods from two English factories and from the works in Germany, and at the outbreak of war there were stocks here which came from both these sources. Mr. Munton held powers of Attorney from the two English Siemens Companies.
3.
The consideration of the status of the local branch of the Siemens China Co. was first taken up in the begin- -ning of September, 1914, and an arrangement was come to in Decem- -ber, 1914, under which the branch was allowed to carry on business on condition that they would not remit any money out of the Colony without permission and that they would not obtain any goods from the Shanghai Office without special leave. I attach a copy of a letter, dated 11th, December, 1914, which embodied this arrangement. I may say that no permission has been given for the importation of any goods from the Shanghai stock. At the same time all the banks were informed of the arrangement, and so far as I know no attempt has been made by Mr. Munton to evade either of the conditions,
4.
In January, 1915, the two English Siemens Com- -panies telegraphed to Mr. Munton revoking their powers of attor- -ney and at the same time they revoked the powers of Attorney which had been given to the Manager of the Siemens China Co. at Shanghai, Mr. Munton then applied to the two English Companies to be attached to them, as I understand that the Siemens Agency at Singapore is attached, but this request was not complied with by them. The two English Companies however expressed their willingness to ship to the Hongkong branch against cash in London. This consent was given by them on condition that the trade was bona fide with the Hongkong branch and that no transaction with the head office at Shanghai was involved.
5.
The position then was that Mr. Munton was de- -barred from trading with the head office of the Siemens China Co. at Shanghai, and could trade with the two English Siemens Companies
only as an ordinary customer, with no special facilities. He had
at
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