File No. 817.51/447.
Brown Brothers and Company and J. and W. Seligman and Company to the Secretary of State.
Sir: Referring to our letter1 to you of December 13th last, we beg to say that owing to the failure of the Ethelburga Syndicate, Limited, to carry out the contract of December 9th, therein referred to, the same became inoperative some months ago. We have recently negotiated on behalf of Nicaragua new contracts on the same subject with the Corporation of Foreign Bondholders, and beg to hand you herewith for your information copies1 of the following instruments:
- (1)
- Contract dated May 25, 1912, between the Republic of Nicaragua and the Corporation of Foreign Bondholders, containing principally such portions of the proposed settlement as affect the holders of 1909 Bonds.
- (2)
- Another contract, also dated May 25, 1912, between the Republic of Nicaragua and the Corporation of Foreign Bondholders, to the original of which a copy of the above contract (1) is annexed as “Schedule A.”
- (3)
- Letter dated May 25, 1912, from the Corporation of Foreign Bondholders to Brown Brothers and Co. and J. and W. Seligman and Co., representing the Republic of Nicaragua.
- (4)
- Letter dated May 25, 1912, from the Republic of Nicaragua and Brown Brothers and Co. and J. and W. Seligman and Co. to the Corporation of Foreign Bondholders.
- (5)
- Contract dated May 25, 1912, between the Republic of Nicaragua and Brown Brothers and Co. and J. and W. Seligman and Co., to the original of which Contracts (1) and (2) and of Letter (3) above mentioned, are annexed as “Schedules L, K and Y” respectively.
The above contracts were all expressly authorized by the Republic of Nicaragua.
Respectfully yours,
J. and W. Seligman and Company.