File 3874/1908 'Railways:-Trans-Persian Railway.' [‎93r] (187/536)

Letter from M. A. Bunge to M. Homyakoff.
at- i at , St. Petersburg!!, Zamvatin 4,
Bear Nicolas Alexeyevieh, lltli July (24), .1910. '
M. 1 immazeff lias come back from London, and lias joined our
Consortium In London lie saw Count Benckenkorff, wlio expressed
ins sympathy with_ our plan and promised his assistance; he also
expressed the opinion that the diplomatic conversations in London
should be begun only when Sir C. Hardinge has reached'the place of
his new post, and after a closer study of the Indian side can speak
more authoritatively m favour of making a Persian railway. In London
financial circles, M Timmazeff did not speak of our plan; and in
general he thinks that communications with the English banks should
take place with the help of the French banks, which will otherwise say
that they have been passed over, and this might later have a bad effect
on the financing of the enterprise. Anyhow we have more acquaintances
and connections amongst the French diplomatists and bankers than
amongst the English. So the French can give us the best advice
precisely as to what financial groups we should approach in England, in
oroer to avoid touching the financial circles interested in the Bagdad
Kail way, and also they can show us the methods of approach which will
be most successful with the English. In any case, the summer vacation
has already began m London and will last till October, s 0 that hist now
no business can be done there.
. This is also tlle opinion of M. P. L. Bark, who thinks the right course
is now to approach M. Noetzlin in Paris.
i ,J n iV a ! k ^! I1C - M ‘ Bark liad Wlt]l Mirza Ali Goli Khan, before the
tatter left lor I ersia,- it appeared that he was very disposed to help
our plan; but, m view of present opinion in Persia, he advises that the
Liture company should officially be, not Anglo-Russian, but either
Trench, Belgian, or international, with a directorate not established
either in Russia or in England.
On 4 lid ay the 9th July (22), the members of the Consortium who
are on the spot (MM. Timiriazeff, Bark, Pechkovsky, Palashkovsky, and
myself) met at the Russian Bank in M. Timiriazeff’s room, and, after
exchanging opinions on the above ideas, decided to put off the visit to
England till October meanwhile, M. Bark will now go to Paris to learn
what is the disposition of 4 rench diplomatic and financial circles
towards our plan, and in general to make the necessary enquiries and
prepare the ground for the later negotiations in London. M : Bark
expressed his willingness to go.
The meeting desired me to tell you all this, and to ask you to give
me your opinion on the resolution which we adopted. Perhaps you may
have objections to raise, or you. might agree to accompany M. Bark to
Paris to help him with your friends and connections.
M. Timiriazeff and I will start on the 1st August (14) on a journey of
some time abroad, and so we should like to have an answer from you as
soon as possible.
I am sending a copy of this letter to M. A. I. Zvegintseff; perhaps
he too will like to take part in the journey. A week ago I was with
M. V. N. Kokovtseff and gave him a memorandum and a map. He said
that he had long been awaiting this memorandum, for he is very
interested in our work. He, however, says that any direct guarantee of
capital is impossible ; but to the formation of a guarantee fund started
by a sum from the supplementary profits of the Russian railways he is
ready to agree. M. Bark thinks such a fund insufficient to raise the
capital, but I am less pessimistic on this point. M. Kokovtseff has no
doubt of the possibility of the financing of our plan, but he fears
diplomatic difficulties; he also recommends that attention should be
given to Moscow* (the probable complaint that Russia will lose markets
The application to M. Schlesinger was the best way of meeting this difficulty.