839.51/2423a: Telegram

The Acting Secretary of State to the Commissioner in the Dominican Republic ( Welles )

15. For your information and such use as you in your discretion may deem advisable, Department informed Mr. [W.] McCormick Blair, the member of Lee, Higginson and Company, who is especially conversant with and interested in Dominican affairs, is leaving for Europe at the end of May. It would probably be advantageous, therefore, to the Dominican Government that the flotation of the $2,000,000 installment of the unissued portion of the 1922 loan be submitted to the consideration of this firm before his departure.

You will remember that under the provisions of the loan contract and agreement between Lee, Higginson and Company and the Dominican Republic, acting through the Military Government of Santo Domingo, covering the purchase by that firm of $6,700,000 of the $10,000,000 loan of 1922,19 it is provided that “Lee, Higginson [Page 650] and Company shall have the first opportunity to purchase any bonds of this issue that may hereafter be authorized and offered”.

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