819.51/202: Telegram

The Minister in Panama ( Price ) to the Acting Secretary of State

Referring to my despatch of March 3 number 2287.15 The efforts of Fiscal Agent Ruan were successful in preventing provision being [Page 690] incorporated in bill for agricultural bank for a large appropriation for its establishment and conduct but at insistence of Panaman President the bill as passed provides for investigation preparatory [to] successive establishment and authorizes Panaman President to employ expert in agricultural banking to make investigation and recommendations. Pursuant thereto Panaman President has employed Clarence J. Owens of Washington at expense of $10,000 and it is understood he will come to Panama at an early date under urging of Panaman President.

  1. Not printed.