CO129-629-12 War Risk insurance- availability of contractors plant 1-2-1951 - 31-5-1951 — Page 14

OUTWARD TELEGRAM

FROM THE SECRETARY OF STATE FOR THE COLONIES

14

13

54510/51

Typex

TO HONG KONG (Sir A. Grantham)

Sent 18th May, 1951. 18.00 hrs.

PRIORITY

No. 639.

Confidential.

Your telegram 560.

Netherlands Harbour Works.

Your present proposals overcome some of difficulties envisaged in my telegram 601 although the possibility of repercussions cannot be entirely ruled out. In all the circumstances, however, I approve supplementary expenditure not exceeding three million dollars on the terms proposed in paragraphs 2, 3 and 4 of your telegram under reference, i.e., purchase at an agreed valuation on undertaking to repurchase on completion of contract, money not (repeat not) to be paid over to Company but to be deposited in London in joint account and Company to insure against commercial and if possible war risks.

Copies sent to:-

Ministry of Civil Aviation

Air Ministry

Treasury

Board of Trade (Insurance

Company's Dept.

Crown Agents

-

<

Mr. W.C. Gawthorne Registry Tels.

Mr. L.T.G. Sully

Mr. D.F. Hubback

Mr. Lovelock

Mr. J. Wright

Mr. Foxlee

Crown Agents for the Colonies.