838.516/138: Telegram
The Secretary of State to the Minister in Haiti (Bailly-Blanchard)
55. Your July 16, 11 a.m. For McIlhenny.
In view of continued delay in obtaining consent of Haitian Government to transfer of contract as amended to new bank, the Department has been requested by the National City Bank to agree to its [Page 824] proposal to proceed immediately to conclude final details of purchase of National Haitian Bank, taking over contract as it now stands, on condition that so soon as the Haitian Government shall agree to the transfer of contract to new bank, the City Bank will consider operative the modifications agreed upon with the Department.
The Department has determined to agree to this proposal with the understanding, however, that if subsequently modifications of a subordinate character, considered acceptable by Department, are proposed by Haitian Government, the City Bank will not be relieved of its obligation to place in operation major modifications already agreed upon.
You may advise Haitian Government of so much of foregoing as you deem advisable and impress upon them that it is far more desirable in the interests of the Haitian people that the Government give its consent at once to modifications of contract and agree to its transfer to new bank, than that the old contract be taken over by the City Bank in the form in which it now stands when the purchase of National Haitian Bank is concluded.