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Port-Saïd
Minutes of meeting held at 85, Gracechurch Street, on 5th April 1900, 2.45 p.m.

Present:
Mr Newton Dunn (Chair)
Mr. R. J. Lambert
Mr Weissenberg
Mr W. B. Howard
Mr Clifford J. Cory
Mr H. B. Cory
Mr R. Fison
Mr Goudchaux
Mr J. R Burness
Notice dated 27th March 1900 convening the Meeting was read.
Minutes of Meeting 20th Feb.1900 were read confirmed and signed.
Prices. The following intermediate alterations and authorisations in prices agreed by consultation were confirmed.

7/23rd March: "Current price" on and after the first April 1900 to be reduced to 37/6.
"Contract price" from same, date to the end of the year to nominally 37/6 but for reasons previously explained and by way of experiment each house to have liberty of action of not exceeding 2/6 per ton but such liberty to be used with the utmost discretion and to apply to "Contract price" only.
These alterations of course to similarly apply to Suez (both "Current" and "Contract") at the agreed 10/- extra with the same 2/6 liberty of action on the "Contract Price".
The prices might if necessary be quoted at once.
Above agreed prices not to apply navies requirements for which the  "Current price" shall remain at 40/- and the "Contract price" for navies to 40/- excepting the Russian Navy.

28th March: Agreed the price for the United States Navy contract be Port-Saïd 37/6 fob not including trimming: Suez 10 /- per ton more.
Contract to be from present till end of 1900.
Prices not to be cabled before the 29th March 1900.

28th Feb / 7th March: Mrs. Cory Bros. & Co. having ascertained that the contract of Compania Transatlantica, Barcelone, with MM. L. Savon & Co. for Port Said expires on 30 April next ask for freedom of action as regards price to secure this contract until the end of the year in the same way as was granted over the Navigatione Generale Italiana and Austrian Lloyds and for the same reasons.
Mrs Wills agreed to grant same subject to the firms interested in the "Honorable understanding" undertaking not to interfere with them as regards the Italian Navy.
Mrs Worms and Lambert also agreed to grant same but only on condition that the Russian Navy be recognised as theirs (Mrs Worms & Lamberts) clients and that Mrs Cory Bros. undertake not to quote nor take the coaling of the Russians Men of war, whether for single supplies or contracts, at these ports, either on arrival of the ships at Suez Canal ports or previously thereto, except at such prices as may arranged between on the one part and Mrs Worms and Lambert on the other.
Mrs Cory Bros. however could not see their way to agree the stipulation pending the results of present enquiry so the matter rested.
Prices: A discussion then arose with regard to prices and Mrs Cory Bros. notified that Mrs. Savon had taken the Copaitich contract at 32/6 and they wished the contract price reduced to this figure as they felt it desirable that the houses should retain as much of the trade as was possible. It was however decided not to generally reduce the "Contract price" but that same should remain at 37/6 with the 2/6 liberty of action previously agreed and it was suggested by Clifford Cory and acquiesced in that if any house be approached with some business which they wished to secure they should notify the Chairman, naming the contract in question, ask for permission from the other houses to reduce if they thought fit to do so.
"Current price" then came under discussion and it was agreed that same should remain at 37/6 without any liberty of action but with the same understanding as to approaching the Chairman for permission from the other houses to reduce for any special business.
Navies. This question then came under discussion and it was finally agreed that:
Mrs Cory Brothers should retain the "German", "Austrian", "Dutch" and "Spanish" Navies. The other houses quoting such higher but reasonable prices as required by them.
Mrs Worms should similarly retain the "French", "Russian" (alternate with Mrs Lambert) and "Japanese" Navies.
Mrs Wills should similarly retain the "Italian", "Portuguese" and "British" (alternate years with Lambert Brothers).
Mrs Lambert Brothers should similarly retain the "", "Russian" (alternate with Mrs Worms ), "Turks" and "British" (alternate years with Mrs Wills).
And that for the:
American Navy Transport & Army, Chinese and Danish and all other navies all houses should go in on equal terms to be agreed upon time to time.