File No. 763.72112/608

The Consul General at Rotterdam (Listoe) to the Secretary of State

Sir: I have the honor to transmit herewith, in triplicate, “Memorandum and articles of association of the Netherlands Oversea Trust Company, Limited,” a company established to act as intermediary for Netherlands’ merchants or trading companies, with a view to enable the unmolested conveyance from oversea of merchandise which has been declared contraband, either absolute or conditional, by belligerent states.2

The company has been but recently established, after much negotiating with the Dutch Government by six of the leading banks and bankers, and twelve prominent shipowners of the Netherlands. As consignee, the Netherlands Oversea Trust Company, Limited, will undertake to protect the interests of importers generally and furnish the Government the required guaranty to maintain absolute neutrality. The board of directors consists of seventeen members, five of whom constitute the executive committee. The company’s capital, which amounts to 2,500,000 florins (one million dollars), is more of a guaranty fund, inasmuch as only 10 per cent of the same is to be paid in.

While the company has not as yet commenced to operate, negotiations are at present being carried on between the Dutch Government at The Hague and British Foreign Office at London for the purpose of obtaining the approval of the latter.

I have [etc.]

S. Listoe
  1. Not printed; the articles in their final form are printed as enclosure to despatch No. 201, February 1, from the Minister in the Netherlands, post, p. 270.