File No. 863.852/25
The Minister in Switzerland ( Stovall) to the Secretary of State
[Received June 7, 11.45 a.m.]
1004. For Phelps Bros, [from Ferruccio Schiavon]:
June 3. Your three cables May 19.1 Official permit to sell all steamers granted, provided buyers are private concerns and guarantees are given of trading during the war only between American ports excluding English and French Dominions, and for Shanghai property including China and Dutch India. Provided also cash payment European neutral countries, Spain excluded. Swedish Legation already instructed to close registers. Also our officials, Shanghai, Rio, Buenos Aires, accordingly instructed.
Always on above conditions you are definitely authorized to sell:
- (1)
- Agreeably with Antonio, highest possible, Martha, Virginia, Laura, Alice. Strongly hope you getting at least $300 per gross ton passenger steamers. Understand Virginia undamaged.
- (2)
- Shanghai property according your cable 19th,1 if better impossible, provided Shanghai agents have not already sold vessels. [Owners] consider repairs survey cannot exceed $120,000 [Page 450] for whole property. They would like to limit their liability but leave it to your discretion.
- (3)
- Tripco[vich]—2½ per cent your commission, American legal expenses, the transfer charges for buyers’ account: two parcels [vessels?] totalling 13,200 tons, minimum according your cable 19th. Himalaia, 8,100 tons, superior boat considered worth over $200, minimum $150, per ton dead weight, limiting, owners’ liability for repairs $20,000.
- (4.)
- Atlantica property according your cable 19th, try utmost to improve.
- (5)
- Borneo best possible, at least basis of Campania, Franconia. Owing to supposition Borneo undamaged, expect you will improve.
- (6)
- Agreeably with Antonio, Erodiade minimum $130 ton dead weight.
Arrange remittance possibly according your cable 23d May,1 whole amount for all owners, while for us and Atlantica 20 per cent remain at your and Buenos Aires’ disposal. Acknowledge receipt of 34th cable.1 Inform quickly result of your negotiations, cabling names of European bankers, stating amounts transferred under name Fratelli Cosulich for accounts of each owner. Powers [of attorney] will be filed next week by all interested neighbors [sic] with your Legation at Berne. Cable firm offer agreeable with Antonio for Siam and two Adria steamers in Brazil. Cable what improvement obtained for all ships including first seven boats, should trading restrictions removed. Cable whether you can make us firm offer for Hamburg and Bremen ships stating conditions by cable. Ferruccio Schiavon.