File No. 817.51/515.
Brown Brothers and Company and J. and W. Seligman and Company to the Secretary of State.
Sir: Referring to your telegrams1 to us of Sept. 16th and Sept. 25th, and our telegrams to you of Sept. 17th1 25th1 and 26th, we beg to say that the negotiations with the Government of Nicaragua therein referred to have resulted in an agreement between the Republic and ourselves, dated November 4th, 1912, a copy1 of which we enclose herewith for your information.
In accordance with the provisions of this agreement, we have already released and turned over to the Republic $100,000 of the customs moneys heretofore collected, and out of the moneys received as the result of the Ethelburga Syndicate settlement have set aside $400,000 which we now hold as a separate fund under the agreement to be paid over to the Republic in installments at such times and in such amounts as may be agreed upon between the President of the Republic and us.
Respectfully yours,
J. and W. Seligman and Company.