File No. 893.51/1386.
The American Group to the
Secretary of State.
New York,
April 15, 1913.
Sir: Referring to our letter of April 12th,
outlining the position of the American group as regards the currency
loan, we beg to enclose
[Page 198]
herewith a copy of a telegram from Messrs. Morgan, Grenfell & Co.,
transmitting a message received from Peking reporting the action taken
in pursuance of our telegraphic instructions to Mr. F. H. McKnight, in
Peking, a copy of which was transmitted to you with our letter above
referred to.
Very truly yours,
[Inclosure—Telegram.]
Morgan, Grenfell & Co. to the
American Group.
Hong Kong & Shanghai Banking Corporation have received a cable
from Peking, as follows:
Following for four groups: Currency loan. We have written
Minister of Finance provided Chinese will pay forthwith
accrued interest to date and will extend agreement in favor
of English, French, German groups to October 14th next, all
the four groups are prepared to extend £400,000 advance for
six months subject to prior payments at option of groups out
of proceeds any comprehensive reorganization loan which may
be issued in the meantime. American representative
cooperates with representatives other three groups, but we
have explained Chinese that interest in [sic] American group
in loan agreement ceases April 14th and that if extension
granted all their obligations and rights thereunder will be
assumed by English, French, German groups.
Morgan, Grenfell & Co.
