File No. 839.51/950.
The Secretary of State to the Chairman of the National Bank of Santo Domingo.
Washington, February 12, 1913.
Referring to your telegram of February 7 and previous correspondence in regard to the making of a loan of $1,500,000 to the Dominican Government, I desire to advise you that from the information before this Department it appears that in the competition to obtain this loan proposals were submitted to the Dominican Government by two rival American-owned concerns—the National Bank of Santo Domingo and the National City Bank of New York City—and that the Dominican Government has decided to accept the proposal of the National City Bank of New York. Both proposals appear to be within the requirements as they are known to this Department, and from a calculation made by the officers of the Insular Bureau of the War Department it appears that the proposal of the National City Bank of New York is somewhat more favorable to the Dominican Government. In view of all the facts and circumstances as known to the Department there appears to be no ground that would call for or justify the Department in any interference in the matter of the awarding of this contract.