File No. 819.77/288
Minister Price to
the Secretary of State
[Extract]
No. 1513
American Legation,
Panama,
August 13, 1917.
Sir: I have the honor to report that the
Panaman President has issued a decree perfecting legal
technicalities necessary prior to the issuance of the $750,000
balance of bonds remaining after the completion of the
Pedregal-David-Coneeption-Boquete Railway, better known as the
Chiriqui Railway, for the construction of the branch line to same in
which Mr. W. C. Staton and Messrs. Eccles, Browning and others of
the Amalgamated Sugar interests of Utah are interested. I enclose a
copy and translation of the decree. The Panaman authorities are
preparing to have surveys made and preliminary work carried out
apparently with promptness. Mr. W. C. Staton has recently been here
urging action on the part of the Government.
I have [etc.]
[Inclosure—Translation]
Decree No. 69 of 1917 (of August 8) by which is dictated a
regulation concerning the issuance of bonds of the Chiriqui
National Railroad
The President of the Republic, using the powers given him, and
considering:
- 1.
- That there are deposited with the Farmers’ Loan and
Trust Company of New York seven hundred and fifty bonds
of one thousand dollars each, part of the total issue of
three million dollars created by the trust document made
November 2, 1914, by the Government of the Republic on
the one part and by the Farmers’ Loan and Trust Company
and William Nelson Cromwell, trustees, on the
other;
- 2.
- That the said bonds are signed with the lithographed
signature of the then President of the Republic, Dr.
Belisario Porras, and with the autographed signature of
the then Minister in Washington, Dr. Eusebio A. Morales;
and that it is necessary that the signatures of said
gentlemen be adopted by decree of the Executive Power in
order that the bonds may be issued in conformity with
Article 1 of the trust document;
- 3.
- That registered bonds Nos. 125 to 300 are in the same
situation; decrees:
- Article 1. There are declared adopted by the
Government as perfect for emission coupon bonds
Nos. 2251 to 3000 inclusive, and registered bonds
Nos. 125 to 300 inclusive, which are deposited
with the Farmers’ Loan and Trust Company of New
York, and which form part of the total emission of
three million dollars created by the trust
document signed in New York November 2, 1914, by
Dr. Eusebio A. Morales, Minister of the Republic
in the United States of America, in his character
of special delegate of The Farmers’ Loan and Trust
Company, and William Nelson Cromwell.
- Article 2. For the effects of the preceding
article and in conformity with the first clause of
the trust document, there are adopted the
signatures of Dr. Belisario Porras, then President
of the Republic, and of Dr. Eusebio A. Morales,
the Minister in Washington and special delegate,
as sufficient to give validity to said bonds on
the date on which they may be issued and the same
as if said gentlemen were at present or on the day
the issue may be made filling the offices which
they filled when the bonds were signed.
- Article 3. Let an original copy of this decree
be sent to the trustees for its corresponding
effects.
Let this be published and communicated.
Given in Panama this eighth day of August 1917.
-
Ramon M. Valdes
The Secretary of Finance and Treasury,
-
Aurelio Guardia
