CO129-440 - Others & Individuals - 1916 — Page 557

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zuch against Reles's best interests that Reiss asked of us the

stipulation of having the agency for a term of at least three

years; and the reply came imediately:

"Well, Mr. 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 prospecte."

Hence I telegraphed kr. Carroll on this point;

"three years certainly unattainable, moreover doubtlessly considered attempt using present position coerce Texas. Strongly advise Reise desist demanda emanating probably Hong kong, which very prejudicial their reputation and future

relationship"

and as your Bank, the Jolonial Office, the Governor of Hongkong are all desirous to see this watter settled at last, I do beg of

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

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

their own way, the present oase is essentially one where insistence defeats ones own object.

DOW,

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

it is solely because of Reies'a 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 18 convinced that they can finance the business to greater advantage by avoiding London, and, half-truths and little knowledge being diifioult actors to over-

come, 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 con-

ceited, I have told them that, even aiter this destructive war, it

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