File No. 815.51/327.
The American Minister to the Secretary of State.
Tegucigalpa, February 27, 1912.
Sir: I have the honor to report that the loan of $500,000.00 negotiated by Mr. Samuel Zemurray on behalf of this Government with the Whitney Central National Bank of New Orleans (my No. 85, of the 4th instant and previous correspondence) was approved yesterday with the alterations recommended by the Committee on Finance and Public Credit in its report on this contract which goes to the Department as clipping No. 57 cut from El Nuevo Tiempo, No. 270, of to-day’s date.1
The changes in the contract are significant. The more important affect Articles IV and VI, altering the powers of the agent to be appointed by the bank to administer the customs at Puerto Cortes in case of failure on the part of this Government to make the payments to the bank and eliminating the restraints put on this Government in the matter of tariff legislation.
I have [etc.]
- Not printed.↩