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• Eric Bentley to William Mackinnon. date on the envelope & earliest dated item, but contains second Bentley letter with attachments, letter of G.S. Mackenzie of 19 July, undated unattached note by William Mackinnon (1) 7 July - details of last court meeting; Ryrie's dissent re-payment late Sir Lewis Pelly's fees to his Executors; total liability reached £78,000; regarding book value of "Kenia" (cost of transport & re-assembly equal to building cost); William Mackinnon note requesting details enclosed - (a) IBEA Co. Court resolution approving formation of syndicates, including William Mackinnon 's own, accepting formation of others, whether English, Colonial, or Native capital involved. Court additions in red emphasize approval, & legally permissible co-operation, William Mackinnon 's in pencil eliminates personal reference & against rival syndicates for the present. (b) Detailed proposal for East African Development Association - £50,000 capital - John Fleming, manager/director - assets to be taken over (for shares) Malindi plantation rights, Denhardt's plantation "Kenia", road already built, plus rights to land, timber, mineral rights & to 10 miles around roads & tramway to be developed, to build trading stations (India rubber most favoured), sell water supplies, grant plantation concessions (8 an to 1 rup. an acre). The court additions eliminate IBEA Co.'s responsibilitees (protection of traffic) & defend native land rights. William Mackinnon against the latter. (c) Typed copy of William Mackinnon 's earlier proposals regarding financing. (2) 2 August - Extended details regarding the cost of the "Kenia"; regarding death of Sir Francis de Winton's son; F.O.'s arrangement for independent Uganda report from Capt. McDonald; instructions regarding reduction expenditure below £40,000 annum; Sultan's steamers no longer calling at Northern Ports. William Mackinnon 's pencilled comments query many details regarding "Kenia". Enclosed typed letter to F.O. regarding Co's position etc. Reminds earlier letter (20-8-91) estimated administrative costs at £40,000. To cover next 5 years, development etc. £200,000 loan required (call of £40,000 per ann.) Growing revenue would cover the interest, but would need First Mortgage Bonds at 4-5%, so question of collateral. Two possibilities - Sultan should pledge whole of custom dues plus company rent (he should do this as Co. rent exceeds pre-Co. customs revenue & he has no administrative costs to meet) or he should pledge the German commutation payment for their concessions custom revenue. Otherwise IBEA Co. either surrender the Charter & revert to profitable coastal trading or surrender the whole Concession, after compensation, for its inclusion in a Br. Protectorate. The loan would cover both interest & development costs for IBEA Co. is viable in time. Co. will accept F.O. guidance, in the wider national interest, if the shareholders are protected. (3) 19 July 1892 - G.S. Mackenzie - covering letter for press copies of letters to Berkeley & Nicol to get them to persuade Portal that he should urge the Govt. to early action (copies are missing.) No action yet on director's deputation to Govt. (4) Undated note in William Mackinnon 's hand on Balinakill notepaper regarding different financial set-up for East Africa Syndicate - capitalisation increased to £100,000. IBEA's share written in at £20,000. ("Kenia" now at £6,000 etc. with £6,000 on call).
• G.S. Mackenzie to William Mackinnon. Attempt to arrange a meeting with Lord Salisbury regarding company financing; Sir Percy Anderson suggested deputation of Kirk, Sir Arnold, G.S.M.; Sir Phillip Currie requested a memo. left for Lord S.'s prior consultation unwilling at first because of mention of politically unpalatable railway (in note for Sir Percy Anderson) & none of other directors available. Consulted Sir Arnold on a present draft, left with Villiers omitting controversial clauses, asks William Mackinnon 's approval, but accepts responsibility. Not known who will succeed Lord S. in new Ministry, but his advice will carry weight with successor. Speed urged; another copy could be substituted if William Mackinnon disagrees strongly or wishes to add. Enclosures: (a) typescript copy of memo handed in Pencil notes date as 7/23/92 - not G.S.M. nor William Mackinnon 's handwriting. Proposals parallel those in Bentley letter of Aug. 2, 1892 enclosure (itself held with Bentley letter of 7 July.) Differences - detailed statements regarding custon's revenue part & estimated; £10,000 balance expected after interest payments; welcome to other syndicates etc. unqualified; settlement of Witu problem & Tana & Juba navigation question to double profits; restriction of Sultan's expenditure & appropriation of islands' taxes (for development purposes) quite explicit, in proposals omitted; proposed Govt. seat on board left out; & the interim return of the Concession to the Sultan as prelude to extended Protectorate. (b) copy of memo regarding Uganda. Details as Bentley letter of 4 Aug 1892 - enclosure (b). The differences. G.S.M. suggests IBEA Co. willing to create Persian style transport system between Uganda and Dagoretti (near to the modern Nairobi). No suggestion of Capt. Eric Smith as potential Resident; only as heading transport system
• P.L. McDermott. to William Mackinnon. p.469 Informs that telegraphed instructions regarding Tippoo carried out. Nicol misunderstood earlier reply drawn up with Sir John Kirk. Now Corrected
• E.L. Bentley to William Mackinnon. An update with press cuttings regarding Christian faction struggles in Uganda and telegram from Portal (14 July 1892)
• Duncan MacNeil & Co. to William Mackinnon. - regarding chest of tea sent to Mr. Anslyn; details Meiggs securities, agreement etc. completed