CO129-530-4 Development of Canton to Kowloon railway 1-12-1930 - 1-12-1930 — Page 31

Bowden are prepared to deposit namely, 21,850 is

very approximately 5% of £400,000, or 5p of the

total value of the contrast, although the firm im

acoased, in the telegram of the juronasing committes

of October lúth, of having broken its promise by

refusing to make saoh * "cash deposit". shether the

firm ever agreed to a osun deposit is more than

doua tfal in view of its letter of the 5th August

where the "lodgement of a bond" is specified,

31

The suove comalasion appears to be confirmed

by copies of three additional telegramɛ walen Er.

Stratton bas just shown to me. one of these is from

the nongkong and Shangkal Bank (acting on behalf of the

Chinese Government) to

ernment) to the Bank of

the Bank of astralesie, dated

10th September, which states, "You say bay nader

[007 L/C 90% invoice oest of goods bills at sight

for 2E3,250 0.1.f.

To this the bank of astralasia

Howdow

replied "Re your wire Bowden Brothers prepared to

dejouit with Bank of Ametralia either 51⁄2 of value of

contraat roading couplotion of control -

elternately 10% of involes value of esch shipment

pending monthly overturn - -

shipment during

October and monthly thereafter not exceeding 8,000

sleepers in any one bottom";

and in another telegram

*ia iles of deposit controlled by one party Bowden

Brothers offer lodge with us 21,200 deliverable orders

of themselves and your Australian nominee", I take

this to mean that the zurchasing Commission wished to

oh

obtain the 10% guarantee by itself paying (antil

completion of contract) only 90% of the price agreed

apon/