422.11 G 93/1159: Telegram

The Minister in Ecuador (Hartman) to the Secretary of State

5. I was informed today by the General Manager of the Guayaquil and Quito Railway Company that daily deposits account bond interest and salt certificates have been suspended since January 15th but reason for suspension is not known and that President of Ecuador, who is now in Guayaquil, wishes to pay total amount deposits to bondholders at the rate of 10 sucres per pound. London exchange here at present 12 sucres. Full details cabled by the general manager to New York Office.