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The Minister in China (MacMurray) to the Secretary of State

45. My 32, January 16, 1 p.m. Following from consul general at Hankow:

“January 19, 4 p.m. My 5, January 14, 11 a.m. I have been informed confidentially today that Bassett has been successful in his negotiations and that contract calling for payment of 22½ percent on the basis of customs valuations has been signed. Chinese authorities here have agreed to postpone 50 percent tax until after China new year. Probability is that companies concerned here will arrange compromise on a basis of about 22½ percent.”