File 4030/1913 Pt 1 'Baghdad Railway: Negotiations; Navigation of the Tigris and Euphrates' [‎112v] (28/280)

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in the list contained in the memorandum of the 19th May,” our clients desire to point
out that that sum merely represents the loss sustained owing to the transference of the
management of the Belgian Company, and that it would seem that no account has been
taken of the expenses amounting to more than 3,000h incurred by the Euphrates and
Tigris Company in 1907-9 in connection with the negotiations at Constantinople for %-
the concession which has now been granted to Lord Inchcape, but they do not wish to
do more than call attention to the foregoing as a matter of fact and not in any
* contentious spirit.
We are also directed to inform you that wdth regard to the Belgian Company, the
Board of the Euphrates and Tigris Company and Mr. dohn F. Lynch are agreed that the
management of this concern shall be undertaken by the Joint Management Company
provided that such course is found agreeable to the Board of the Belgian Company, and
our clients would use their best endeavours to bring this about.
With regard to the hope expressed in paragraph 6 of your letter now under reply
“ that it may subsequently be found practicable to arrange for the acquisition by the new
Ottoman Company of the undertaking of the Societe de Transports fluviaux on equitable
terms, but not in such manner as to modify the distribution of interests in the Ottoman
Company,” we are instructed to say that the Board of the British Company have no
objection to such procedure being adopted in the future if such acquisition can he
so arranged.
With regard to offering Lord Inchcape a seat on the Board of the British Company
we are instructed to inform you that the Board of that Company will be pleased to
accept this proposal especially in view of the fact that a seat was offered to the late
Mr. H. F. B. Lynch on the Board of the new Ottoman Company, and it is assumed that,
in the view of paragraph 2 of Sir Edward Grey’s proposals of the 19th May, 1913, this
arrangement will^be held to apply to his successor in the chair of the Board of the
Euphrates and Tigris Steam Navigation Company.
Our clients ask us to state that in the event of an arrangement being arrived at on
the lines above indicated they are prepared to give to His Majesty’s Government
the guarantees asked for in Sir Edward Grey’s proposals of the 19th May, 1913,
In conclusion we are asked by our clients to express the hope that finality in the
matter may now be reached and that no further contentions will arise.
We are, &c.
SLAUGHTER and MAY.