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Worms & Cie

Cardiff, 17th April 1916
Messrs Worms & C° Paris

Dear Sirs,
We are in due receipt of your favour of yesterday and have ourselves been watching with grave concern the adverse way in which the rate of exchange is mounting up, and may say that when negotiating charters we have been more insistent than ever on freight being paid at Port of Discharge. A great many people still prefer payment locally.
Another factor that gives us much anxiety is our inability to say well in advance what steamers we shall have finishing and whether the collieries supplying said cargoes will or will not at the last moment want payment at 14 days or in cash less a 1/4 per cent, discount; so much depends on how their requirements may stand when vessels are loaded. Further, in the case of ships freights, we are absolutely in the dark as to the expedition or detention that such steamers may receive in the discharging ports. In this connection we were very averse to conceding the terms forced on us in the case of "Glenorchy" ss, all of which freight apparently is now going to be taken on sailing.
We note by your telegram that information in the shape suggested in your letter is not yet required, and you will please give us timely notice when you wish same furnished.
Yours very truly,

G. W. Moore