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I tried to concentrate Clague's were moving forward. attention on the fact that the difference between our offer
I of course and that of the French was only a technicality. gave no suggestion (vida para 3(b) of your Exced 29) that you might be willing to alter your position on this matter.
7. I have been making enquiries from the Chartered Bank here as to the antecedents of the ToMMills Brokerage Company. They are obtaining a Dun and Bradstreet Report, but this will take some time as their New York Office tell them that the Chicago firm are not listed in the Dun and Bradstreet Directory. The New York Office report said that they are listed as being incorporated in 1963 as freelance brokers, but that no detailed credit information is obtainable from their bankers apart from the fact that a credit line has been made available.
8. I was unable to obtain any further information from Clague as to the origin of his Swiss money except that he suspects it is the salted away savings of the widow of a prominent Thai politician.
9. I also questioned Clague on the new Costains offer.
I He said that it was higher than their previous offer. enquired whether this would raise the amount of the loan capital required, and he stalled in his reply, but we may
No doubt well have a bit of trouble in this direction. you have more details of the new Costains price than I do.
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10. Turning now to my recent conversations with Cowperthwaite about these two telegrams. I got him to confirm quite clearly that the Hong Kong Government has no objection in principle to proposing to the Executive Council and the Legislative
up its share option Council that the Hong Kong Government take complete with an individual guarantee to E.C.G.D. in proportion to its share of the equity. I enquired why the Hong Kong
His reply was that Government had suddenly revealed this. no one had ever asked them the questions in these terms before! He went on to say, however, that there was a lot of small print which had to be adjusted. He referred particularly to the question of the fund. He does not object to the fund as such but he feels that the proposals require quantification lest the fund should absorb too much too early of the income from the tunnel. Cowperthwaite also complained that it would be much simpler if 23.C.G.D. carried the whole of the political
I drew on my risk without asking for these guarantees. experience of the post-Suez settlement with the Egyptian Government to explain to him why you felt it necessary to maintain these guarantees and have access to eventual
as Chinese takeover. compensation after
I think Cowperthwaite
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