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Why on earth quibble, delay and leave unsettled such a trivial matter by deferring it to "correspondence with Hongkong." after having all along taken the position that they, the London house, could settle for Hongkong such and similar matters.
Proposed clauses of agreement: The following clauses embody the
changes in our Agreement with Reiss (as cabled to Carroll) arising out of the alteration of terms:
Clause 1: Reiss to be the Distributing agents of the Texas Company (instead of Advisora) in Hongkong, Canton and
the other places in the territory which is to be defined ac- cording to my Company's contract with the Texaco.
Commission to be 3, Reies paying their compradores and every other expense which is not chargeable to the Tex- 800, according to previous cargoes (the Panama oargo is not to be the basis, because Cheetham may have charged items which should not have been charged to the Texaco).
Clause 2: Reias to do their utmost in furthering the Texas' and our mutual interest, to extend the sales, and to be de barred from handling directly or indirectly any other petroleum products.
Clause 3: the term of the agreement to be for as long as my Company hold the sgeboy. N.B. This surely is better than an unattainable term of three years. In any case, we cannot give more then we have ourselves.
Clause 4:
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Unaltered. This is the oleuse deberring Reiss from touching this business without our consent a self un-
derstood olause of course.
Vlause 5; to be cancelled, as, in view of olause 3,
there cannot of course be a notice for either of us.
Clauses 6 & 7: unaltered (arbitration clause and inter-
pretation of the Agreement in accordance with the law of
England.
Panama cargo: 1 % commission, as agreed according to Septem- ber heads of Agreement between the parties, but plus payment
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