File No. 839.5.1/954.
The American Minister to the Secretary of State.
Santo Domingo, February 13, 1913.
The National City Bank loan agreement now awaiting conclusion is exactly the same as cabled to me in your January 7 excepting the proper changes in the preamble and the rate, which was named in the cable as received here as 100½ instead of 97½.
Additional clauses are as follows:
8. All advances and disbursements made to the Dominican Republic under this loan shall be made by means of checks or orders countersigned as a proper expenditure by the American Minister or the Secretary of Legation of the United States and Mr. J. H. Edwards, Deputy General Receiver of Dominican Customs, or such other person as the General Receiver of Dominican Customs may designate.
9. For the purposes and operation of this loan any advice or communication from the National City Bank of New York shall be considered valid if made in writing addressed to the (translation) Secretaryship of State for Finance and Commerce of the Dominican Republic (end of translation), Santo Domingo City, and delivered at the office of the Secretary of Finance and Commerce through the American Legation or the Consulate General of the United States of America in Santo Domingo City, or in any other way.
Any advice or communication from the Dominican Republic shall likewise be considered valid if made in writing, addressed to the National City Bank of New York, No. 55 Wall Street, New York City, and delivered at its office through the Dominican Consulate General in New York City, or in any other way.
10. All accounts pertaining to the operation of this contract shall be kept by the National City Bank of New York in United States currency, and said bank shall submit to the Dominican Republic statements of said accounts covering the periods ending June 30 and December 31 of each year.
The accounts herein referred to may be transmitted to the Dominican Republic through any of the channels indicated in paragraph 9, and shall stand as approved and accepted by the Dominican Republic if within ninety days after rendition of such accounts no objection thereto or criticism thereof is made through any of the channels mentioned in said paragraph 9.
11. This contract shall be approved and endorsed by the Envoy Extraordinary and Minister Plenipotentiary of the United States of America to the Dominican Republic, on behalf of his Government.
12. This contract shall be executed in both the English and Spanish languages, but the English text shall govern.
The National City Bank’s representative here states that the coupon notes are not ready; they will bear the facsimile signature of the Dominican Minister of Finance and the actual signature of Ramon Lovatón, Dominican Senator, who will sign them in New York, where they are being prepared.