File No. 822.124/292.

The American Minister to the Secretary of State.

[Telegram—Paraphrase.]

Americans will be given opportunity to obtain Guayaquil contract. Only American firm now competing is MacArthur Bros., New York. [Page 508] Government desires firm to take bonds at a prearranged price, but firm wishes to sell bonds in open market and credit proceeds without previously fixing price.

Schuyler.