821.6363/70: Telegram
The Secretary of State to the Minister in Colombia (Philip)
Your 144, October 2, 10 A.M.
Congress has recently passed no act on subject mentioned. However, there was recently passed in the Senate a bill, now pending before the House of Representatives, which permits corporations with alien stock holders to own any interest in a lease of non-metalliferous subsoil deposits in what we call public and Colombia designates as national lands, provided that lease shall contain provision that this Government may take over and operate leased properties, paying compensation, or acquire at the market price the products thereof, or require the sale for consumption in the United States of such products.
Privately owned lands are not in anywise affected by the proposed legislation, and there is no restriction of law upon the disposition of non-metalliferous subsoil deposits on such lands.
[Page 778]More precise information will be supplied as soon as the House acts in the premises, but there would seem to be little likelihood that provisions referred to will be changed.