839.6463/169
The Secretary of State to the Dominican Minister (Ariza)
Sir: I have the honor to acknowledge the receipt of your note dated September 25, 1924,46 in which you inform me that you had on that date signed on behalf of the Dominican Republic a contract already executed by the Compañía Anónima Dominicana de Agua y Luz y Fuerza Motriz and the Liberty Trust Company of Boston, Massachusetts, under which the property described in this contract is transferred to the Dominican Republic. The Department acknowledges the receipt of a copy of this document duly certified by you.
Inasmuch as this contract of sale necessitates an increase in the public debt of the Dominican Republic to the extent of $300,000, to be represented by twelve notes of $25,000 each bearing 5½% interest, dated September 1, 1924, and payable to the order of the Liberty Trust Company on September 1, 1926, you request, on behalf of your Government, that the Government of the United States give such consent to this increase in its debt as may be required by Article III of the Convention of 1907, between the United States and the Dominican Republic.47 It is noted that Mr. Hunt, in a postscript to your note under acknowledgment, makes the same request on behalf of the Compañia Anónima Dominicana de Agua y Luz y Fuerza Motriz and the Liberty Trust Company of Boston.
In reply, I have the honor to inform you that the Government of the United States consents to the issuance by the Dominican Government of the proposed two-year notes to the amount of $300,000 in the amount and upon the terms described in the contract to which reference has already been made. This consent is given in accordance with the provisions of Article III of the Convention of 1907 between the Dominican Republic and the United States.
Accept [etc.]
- Not printed.↩
- Foreign Relations, 1907, pt. 1, p. 307.↩