in particular of the U. S. Steel Corp.. and the Republic Steel Co. has been helpful throughout. On our side, there is no doubt that little could have been accomplished without the very able leadership displayed by Lord Dudley as spokesman for both the British and the continental groups. With kindest regards, I remain E. LEON. EXHIBIT S-116 PEAT, MARWICK, MITCHELL & Co., E. I. A./U. K./U. S. A. Agreement-London Committee. Avenue de la Liberté, Luxemburg. DEAR SIRS: With reference to your telephone call to this office on Saturday, August 12, we note that you are having some difficulty in understanding the cable, and in particular the last sentence thereof, of August 3, 1939, which New York sent to Mr. Todd's office in London, a copy of which was sent to Mr. Dieudonné with our letter of August 10. As mentioned in Mr. Peat's letter of August 1 to M. Dieudonné, we were informed that the SEA were breaking prices in Scandinavia, and following conversations between Mr. Elliot and Mr. Peat the latter sent a cable to New York as follows: "Request you protest to SEA on behalf London committee against their refusal maintain plate prices indicated by the committee. Prices they are now quoting advise central bureau who will continue to take all necessary steps meet competition." The New York cable of August 3 is in reply to this cable of the 1st and is intended as an appreciation of the work of the London committee and of the reasons for the acceptance by the SEA of the trial period between April 21 and October 30, 1939. We appreciate that the cable does not constitute a precise reply to Mr. Peat's cable of the 1st, but as he had kept M. Dieudonné informed of the progress of events he deemed it desirable that it should be sent on to him. With regard to the last sentence in the New York cable, we think the meaning intended is, firstly, that Mr. Todd's office in London were instructed to send Mr. Peat a copy of the cable (which they have done) and, secondly, that in reference to matters relating to outsider competition, the American group prefer that minutes of meetings, reports, etc., should refer to "meeting outsider competition" instead of "eliminating outsider competition." Yours faithfully, S/ ROD M. PEAT. PEAT & CO. |