(2)(b)
EN CLAIR
BY
PRIORITY
COMMERCIAL
G.T.C. (See 7(b))
IN CONFIDENCE
IMMEDIATE
CONFIDENTIAL
SECRET
SAVING
"R CODE"
CYPHER
Authorising
Officer
(4)
To:-
K. W. COTTERILL
Date
Time
19.2.69.
(5) Divisional
Reference
(6) Buyer
BUYER CREDIT
DIVISION
(9)
E.C.G. 788A (Revised April 1968)
(3) NAMES/WORDS TO BE ENCODED IN
G.T.C.
:
PRIVATE ADDRESS TELEGRAM
(7) Telegram to Embassy or
Consulate or Trade Commissioner etc. at
HONG KONG
(8) Repeat to
For use of D.3.A.0.
Despatched
ON
AT
hrs.
BY
67
Message*-
For Hannam from Cotterill. Tunnel. Your letter
of 14th February. Note you suggested to Clague that he should go to the Hong Kong Government and the Hongshai Bank and enquire about their attitude to the guarantees. Your para 10 gives indication of general attitude of the Government, but- it would be interesting to know more about the "lob of small print which had to be adjusted". So far as the Bank is concerned, oan I continue to assume that they are likely to
follow the Government line?
·Your Exced 33. Lien on earnings and mortgage on
tunnel were offered to French. We wish to reach mutually
acceptable-arrangements with Tunnel Company on secondary. security (i... other than several guarantees) and lien plus...... mortgage proposals are one of the manber of possibilities»-- We would prefer to pursue the proposal to set up a fund.
But all this is for negotiation between us once the Tunnel Company agree to our several guarantee proposal.
Please return duplicate copy to:
Export Credits Guarantee
Department,
59/67 Gresham Street,
London, F.C.2.
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