File No. 817.51/599d.
[Untitled]
Washington, October 6, 1913.
Gentlemen: Referring to the contract between the Government of Nicaragua on the one part and Messrs. Brown Bros, and J. and W. Seligman on the other part relating to the purchase of 51 per cent of the railway stock and 51 per cent of the bank stock, I beg leave to say that the Government of Nicaragua has expressed a desire that the bankers shall purchase the specified percentages in pursuance of an option given to them by the Government of Nicaragua under a contract made in 1911, such contract being approved by the Department of State at that time. As the purchase is to be completed under a contract made in 1911, upon the terms and conditions of which it is not within my province now to take any action, I merely state the facts without expressing any opinion upon the merits of the transaction.
I am [etc.]