File No. 893.51/1946
The Acting Secretary of State to the American Group
Sirs: I have received your letter of July 31, advising that the American group has constituted the following institutions to act as a managing committee:
J. P. Morgan & Co., Kuhn, Loeb & Co., the National City Bank of New York, Guaranty Trust Company of New York, Continental & Commercial Trust & Savings Bank of Chicago.
I will not feel the necessity to wait until you receive replies from all of the institutions whom you have invited to participate in this proposed business in case there is anything to come to the American group before you have heard from them.
The Department has not heard from all the Governments it addressed and until it does hear will feel that it will be premature to put the members of the American group in touch with the representatives of the groups of the other Governments.
Your suggestion that it would be wise for this Department to suggest that America be the headquarters of the four-power group is interesting and logical. When it is felt that the suggestion could properly be made, the matter will be taken up with the other Governments.
I am [etc.]