Blair & Company, Incorporated, to the Secretary of State

Dear Sirs: We enclose herewith copy of our letter of September 12th to the Department of State1a regarding a proposed issue of $3,000,000 Six-Months 6% Treasury Gold Notes of the Government of the Kingdom of the Serbs, Croats and Slovenes, of which we have had as yet no acknowledgment. Supplementing the information contained in said letter of September 12th, we would state that the negotiations contemplate the receiving of an option by the bankers for $2,000,000 additional notes, the proceeds of which in the event the option is exercised, are to be employed, we understand, for railway and road construction.

Inasmuch as the negotiations have reached an advanced stage, we would appreciate prompt advice as to the Department’s attitude in regard to the issue.

Yours very truly,

Blair & Co. Inc.
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