File No. 5315/359.

The Secretary of State to Chargé Fletcher.

[Telegram.—Paraphrase.]

Mr. Knox informs Mr. Fletcher that the department approves his arranging in Peking for equal American participation in present [Page 181] loan, revised in accordance with his telegram of July 15, and on terms stated in department’s telegram July 16, and that he may arrange by separate document or by amending present agreement, or both, as the case may require. States that it is understood that “every particular” in department’s telegram July 16 includes all rights with regard to materials, engineers, auditors, and any other benefits which would naturally accompany a fourth interest in the loan. Adds that the conditions enumerated in department’s telegram June 16 still apply, except where modified by department’s telegram July 16.