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James Burness & Sons
138, Leadenhall Street

London, 24th November, 1915
MM. Worms & Co - Paris

Dear Sirs,
English Coaling C° Ld. M. Newton Dunn who favored us with a call this afternoon informed us that the negotiations with the above named Company had apparently passed out of the hands of M. Reiner into those of M. F. J. Leathers, the Manager of the English Coaling C°, and that the latter gentleman has intimated to him that Lord Inchcape is disposed to enter into a three years agreement with the members of the present Entente upon the basis of 7 1/2% of the pool proceeds instead of 5% for one year as heretofore and upon the understanding that he will confine himself to his present clientele. M. Newton Dunn is going to consult the other members upon the subject and meanwhile he desires us to ask you for your views although he says he hardly thinks he will be in a position to take the matter up seriously with M. Leathers until Monday next: M. Dunn seems inclined to agree to the proposal so far as he is concerned. In this connection we venture to refer you to our Senior's notes of the last Meeting which was held, in which you will see that it was suggested by M. Newton Dunn that in the event of an arrangement being come to with the English Coaling C° that each individual member should continue to contribute his quota to the English Coaling C° under such arrangement for the entire period whether the agreement amongst the present members of the Entente comes to an end or not.
We are, Dear Sirs,
Yours truly,

James Burness & Sons