422.11 G 93/1170

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

No. 659

Sir: Referring to the last paragraph of my telegram No. 7, of February 18, 9 [10] a.m.,31 I have the honor to inform the Department that Mr. Lindberg, representing Brown Brothers, arrived in Quito on March 3, for the purpose of negotiating with the Government of Ecuador for the conversion of the external debt of Ecuador.

As I have advised the Department in previous correspondence, Mr. Lindberg has been in Quayaquil during the greater part of the time since his arrival in Ecuador last October, where he was occupied, on behalf of the Mercantile Bank of the Americas, in adjusting the difficulties growing out of the cacao situation. The results of his efforts in that regard were reported to the Department in my despatch No. 651, of February 22, 1921, with which I enclosed copies of the agreement reached.32

He was of the opinion (and I think properly so), that it was not advisable to take up the negotiations for the conversion of the foreign debt until the cacao matters were out of the road.

Since his arrival in Quito on March 3, he has had interviews with the President and Minister of Hacienda, and has furnished me with copies of draft of contract, and certain memoranda, which have served as bases for the negotiations, copies of which I am herewith enclosing.33

He has kept me fully advised from time to time of the progress made, but I regret to say that the outlook is not encouraging for any early conclusion.

He is accordingly leaving for Guayaquil tomorrow morning, and is expecting to leave Guayaquil for the United States about March 25.

I have [etc.]

Chas. S. Hartman
  1. Ante, p. 884.
  2. Not printed; the agreement was admittedly temporary.
  3. Not printed.