CO129-440 - Others & Individuals - 1916 — Page 528

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that Reiss asked of us the

mich against Reiss's beat interests stipulation of having the agency for a term of at least three

years; and the reply came immediately: "Well, Er. Sanders that does not speak well for the people whom you are at the same time holding up to us as paragons of ability and capacity to handle for

us a business of large dimensions and prospects."

Henoe I telegraphed Mr. Carroll on this point:

"three years certainly unattainable, moreover doubtlessly

considered attempt using present position coerce Texse.

strongly advise Reiss desist demanda emanating probably

Hongkong, which very prejudicial their reputation and future

relationship"

and as your Bank, the Colonial Office, the Governor of Hongkong

are all desirous to see this matter settled at last, I do beg of

you to use your personal influence with Reiss in London to make

them see that, desirable as it may appear to them to have matters

their own way, the present case is essentially one where insistence

defeets ones own object.

Anyhow, if this long-desired settlement is not come to

now, it is solely because of Reiss's indefensible claim for higher

remuneration then that laid down in our September understanding and

because of their insistence on an unattainable term of at least

three years; and, with all that, I have now strong hopes to at last

prevail upon the Texaco to give us an early new cargo, for which I

have been pressing all the time, in spite of the extraordinary high

rates of freights.

Finance: I should add that, with all this talk of Wall Street getting

independent of Lombard Street, the Texaco is convinced that they oon

finance the business to greater advantage by avoiding London, and,

half-truths and little knowledge being difficult isotors to over-

I do not think I have yet succeeded to make them see that they

are wrong in their conviction. Even at the risk of appearing oon-

Come,

ceited, I have told then that, even siter this destructive war, it

would probably be found that other countries would, as heretofore,

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