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His Highness has spoken to me again about the considerations that are made by the French agent in support of Mr. Pastré. Always avoiding to discuss the question, I suggested that he not involve himself with personal business.
His Highness has spoken to me again about the considerations that are made by the French agent in support of Mr. Pastré. Always avoiding to discuss the question, I suggested that he not involve himself with personal business.
Putting aside the political question, if it really exists, today the financial position is as follows: the true conditions offered by the English are ignored, and I believe that they have still not actually formulated them, and it was said to me only by the Viceroy, and also Mr. Outrey repeated it, that they will demand 7% of the profit. The French group, based on what Mr. Outrey says, would decrease to ask for 11%.  
Putting aside the political question, if it really exists, today the financial position is as follows: the true conditions offered by the English are ignored, and I believe that they have still not actually formulated them, and it was said to me only by the Viceroy, and also Mr. Outrey repeated it, that they will demand 7% of the profit. The French group, based on what Mr. Outrey says, would decrease to ask for 11%.  
The Viceroy, continuing to insist that the operation is purely financial and that the English offers will be the most advantageous, but, to show that he does not have a preconceived preference and that he will grant it to whoever gives him the best conditions, has proposed to the two groups to make him a partial loan of 2 million pounds sterling for each one, for 3 months, while the big operation is studied and negotiated. With the first agreeing in due time, the other would be reimbursed the 2 million. Mr. Pastré, as much as Mr. Outrey says, would have declared in response that he would give the 2 million, and he would work hard even now to accept the offers that the English will be able to make, provided that as of now it was agreed that he would grant him the preference.
The Viceroy, continuing to insist that the operation is purely financial and that the English offers will be the most advantageous, but, to show that he does not
On the movements of the Elliot group the greatest secrecy is held.
If the Viceroy wanted to establish a real competition, it is not possible that he accept the request of Mr. Pastré.
The guarantee that the two groups request for the loan, which will be 16 million pounds sterling, would not consist only of the exercise of the railways, but also of the port of Alexandria, the Suez docks and the telegraphs.
If Mr. Elliot will actually offer the 7%, it is the general opinion here that to these conditions it will be impossible to issue the loan on the plazas of Europe, and that in this case it would be evident that the English government keeps you close. The proposal to fuse these two groups, excluding any other advantage, would clarify every doubt; but this proposal would not have the probability of success if the isolated initiative must start from here, while it could have good results if it arrives as simultaneous advice of the unbiased powers.
May it please you, etc.
 
Signed: De Martino