The ring-binder is labelled '1948/53 Private and Confidential' and is numbered 10. It is divided into three sections:

1. Zebra or Switch Operations: correspondence and telegrams exchanged by Matheson & Co. Ltd, London, with Jardine Matheson, Hong Kong and Tokyo (mostly between Hong Kong and London), with related letters and papers, including extracts from telephone conversations between Jardine Matheson, Hong Kong, and Matheson & Co. Ltd, London, 14 October 1952-21 May 1953.

2. Produce: correspondence between Jardine Matheson, Hong Kong, and Matheson & Co. Ltd, London, with related letters and papers, including letters from N. Schrok, Rotterdam, to Matheson & Co. Ltd, London, 4 February-1 December 1949.

3. Tea: correspondence and telegrams exchanged by Matheson & Co. Ltd, London, with W.J. Keswick, Jardine Matheson, Hong Kong, and the China Produce and Tea Departments, Jardine Matheson, Hong Kong, with related letters and papers, including correspondence between Jardine Matheson, Hong Kong, and N. Schrok, Rotterdam, and debit notes from N. Schrok to Jardine Matheson, Hong Kong, for tea shipments, 23 July 1948-2 February 1950.