CO129-440 - Others & Individuals - 1916 — Page 599

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Liessrs. Reise & Co.

March 13th, 1916. 598

1/8 % per month for about six months, plus the 1/4 % to the Hongkong

either for the Bank paying the Texaco's invoices or

Bank in New York

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for "oollecting", as in the case of the Tanered cargo.

As to Interest on the security monies, you have offered to pay 6%, and, in order that my Company does not lose under this head, kindly see that the same rate is invariably charged in your accounts with the up-country dealers who are depositing these security monies

with you.

As to your desire, as cabled, that we should: "exclude in-

definite binding clause", but that you: "will pledge not approach" the Tema Company, you will find on re-reading this clause (4) of our June (1915) Agreement that this clause operates: "whether this agreement is

still in force or not".

Moreover, the terms of this clause are not

only the usual ones, but fair and equitable in this case considering all the circumstances at the time we introduced you to this business,

and considering what has happened since. You will also recollect that'

both r. Secretary Bonar Law and Sir F.H. May suggested (see letter Downe ing Street 4.1.'16.) that we should appoint you "our" agents, and nox you have been appointed (together with us) the direct agents of the Texas Company, thus making this clause all the more justified.

At any

rate, you can surely not expect us to nullify a clause which London

thought it right to sign, and which they would certainly not have signed had they not thought it a justified and reasonable condition of the

Agreement.

inancing 33. "Tancred". I have a far not written you anything about this because I was hoping from day to day to be able to right a very unplea-

sent and delicate matter which arose a day or two after I had financed

an influential

the cargo, by drawing upon the Guaranty Trust Company

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