839.6463/141: Telegram

The Minister in the Dominican Republic (Russell) to the Secretary of State

8. Interview with the President today in regard to Santo Domingo Water, Light and Power Company. He states that he will immediately commence careful study of the report of the expert with the assistance of the former Minister of the Interior who signed the contract of last June with a view to reaching an equitable solution [Page 673] of the matter in the interest of the company and the municipalities. He said that he could not definitely state what he would do in regard to issuing bonds for the value of the property for $450,000 until he had time to go over the matter carefully but that he will give an answer as soon as possible. The President stated that as the expert had given a basis for the present value of the property the question as to how much the municipalities could afford to spend for putting the plant in working condition would have to be considered. He stated that he thought the report of the expert was greatly in excess of what was needed for furnishing water and light. Commander Warfield, U. S. Navy, reported that repairs could be made for $35,000.