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549
The status of the appointment, though made by the Lon- don parent house of that firm (who assured us that it was for them in London to make sugh and similar arrangementa), does not however seem to baye pleased ita Hongkong house; at any rate, instead of doing everything to show that they were nevertheless doing their best to help heetham in building up the business trying thereafter to improve their status and remuneration plaints soon reached us that Hong kong was not even providing him with the necessary olerical assistance to which he was en- titled under our contract with them.
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However, &в we ourselves fully realized that it would be preferable, for us and all concerned, to substitute a firm like Reiss for Cheetham, the London house found us quite willing to make this ohange of status; the only obstacle being that we gould not, in common fairness to Cheetham (particularly because of the troubles he had gone through), throw him over, sa Reiss at first demanded of us. Not only could we not do this for this reason, but we had to be particularly careful to save the Texsoo any further interference with their business, ach ag Cheetham's discharge from his duties would surely cause, seeing that he had just worked himself into their business; exasperated, as our New York friends had moreover become because of all the se troubles – to them hardly believable which seemed indeed to make their business the foot-ball of contending parties in Hong- kong.
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Heads of agreement were then arranged, viz: in Septem- ber last, as followeS
1) the business to be done henceforth in Reiss's name jeot of course to the Texaoo's approval.
Bub-
2) Reiss to be paid a commission of 2 1/2 %, instead of the
which we are paying them now.
1 1/2
3) the terms of the new agreement with my Company (not with
the Texsoo) to be three years; and
4) that the commission be, if possible, arranged to be
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