882.51/1893: Telegram
The National City Bank of New York to the Financial Adviser of Liberia (De la Rue)58
Following from Finance Corporation of America:
“Replying to your cable 26th through National City Bank, we will accept wish of the Government of Liberia regarding assignment of revenues and accordingly you are authorized to strike out lines 13 and 14, article 7, page 7, of Loan Agreement signed by us,59 and substitute the following:
‘On all the revenues receivable on and after said date from headmoneys and
‘The Government further agrees that in the event that the above revenues should prove insufficient for the service of the loan, the Government shall first allocate from its other revenues such sums as shall be sufficient to make up the deficiency.’
And to strike out the last 5 lines, page 12 and the first 9 lines, page 13,60 and substitute the following:
‘It is understood by the parties hereto that the Government may offer for sale in such amounts as it may decide the bonds covering the remaining $2,500,000 authorized under this agreement when the total annual amount of the assigned custom duties and headmoneys have exceeded the sum of $800,000 for 2 consecutive years. Such additional bonds shall only be sold in the American financial market, and to or through the Finance Corporation of America, or other American financial concerns, bank or banks doing business in the United States, and the Finance Corporation of America shall be given the first opportunity to purchase such bonds.’
Finance Corporation of America”
- Received by the Department as an enclosure to a letter dated Oct. 29, 1926, from Guy Cary of Shearman & Sterling.↩
- The words “On all other revenues or moneys received for the account of the Government from any source whatever.”↩
- In art. X from the words “If the Government shall desire to issue the additional $2,500,000 face amount of Bonds …” through the end of that article.↩