Ulen & Company to the Department of State
[Received May 15.]
Sirs: Knowing it is the desire of the Department to be informed of prospective bond issues to be placed in the United States we are advising you that under our contract signed with the Government of Greece on December 23rd [22nd], 1924, copy of which we forwarded you May 11th, 1925,2 we agree to take $10,000,000. of Government bonds in payment for the work covered by the contract. The Banque d’Athènes is a party to the contract to the extent of taking $5,000,000. of these bonds.
We also wish to advise you that under our contract signed with the Government of Greece on May 9th, 1925, copy of which we are forwarding you under separate cover today,2 we agree to take $1,000,000. of Government serial bonds in payment for the work covered by this contract. The Banque d’Athènes is a party to this contract also to the extent of taking $500,000. of these bonds.
A New York banking institution will be appointed as Trustee for both of these issues.
If the Department has no objections, we would appreciate an expression of approval of the placing of these two issues in the United States.
We will be glad to furnish any further information you desire in connection with these bonds and contracts.