File 3874/1908 'Railways:-Trans-Persian Railway.' [‎31r] (63/536)

[This Document is the Property of His Britannic Majesty’s Government,]
M. P. L. BARK, Managing Director of the Volga Kama Commercial Bank, and
M. A. 0.' Goukassow asked me to give them another interview, and I have seen them
this afternoon.
They told me that they had seen Lord Revelstoke, and had also sent yon a
memorandum upon the Persian Railway scheme at your request. They particularly
wished to have my views as to the possibility of forming a London group prepared to
join with Russian and French groups in examining the whole project, and sharing in
the cost of this examination—which is estimated at 120,000L
In my reply I began by reminding them of what 1 had said on a previous
occasion—and what I believe that you had also told them—that I was not a financier,
and that, therefore, neither I nor my firm would participate in the scheme. They
replied that they fully understood this.
I then went on to say that, looking at the matter as a business proposition, it
would in my opinion be impossible to form any such financial group in London as was
suggested, unless—
1. The actual route for the railway had been approved both by the Russian and
the British and Indian Governments—which was I understood at present not the case.
2. Unless there were satisfactory and sufficient guarantees forthcoming, which
would enable the necessary funds to build the railway to be raised later on.
They then asked me whether I thought the British or Indian Governments would
be willing to give any guarantees. I replied that I thought it extremely unlikely that
the British Government would, under any circumstances, give a guarantee ; while, even
if the Indian Government were to entertain the idea, they would be sure to limit their
guarantee to capital spent on that portion of the railway which passed through Indian
territory. I was careful to add that the opinion I was giving was only a personal one,
and was not to be considered as applying to anyone else but myself. The interview
then ended.
I am afraid these Russian gentlemen are disappointed at the little encouragement
they have received here.
EASTERN DEPARTMENT.
[July 19.]
SECRET SERIES.
Section 3.
[28359]
No. 1.
Mr. Iluth Jackson to Sir A. Nicolson.—(Received Jidy 19.)
Dear Sir Arthur,
12, Tokenhouse Yard, July 18, 1911.
Believe me, &c.
FRED. HUTH JACKSON.
[2123 £—3]