853.51/354: Telegram

The Secretary of State to the Minister in Portugal (Dearing)

13. Your despatch No. 1442, April 9.17 Department feels it would be helpful to American bondholders if Portuguese Government or Baring Brothers would designate some agency in the United States with which American bondholders could deposit bonds and receive proper receipts. Foreign Office indicates willingness to do this in its note to you of April 8. If Portuguese Government will designate such agency or have Baring Brothers do so the Department, upon being informed who has been so designated, will inform American bondholders of record with the Department of the arrangements which the Portuguese Government has made for payment of bonds and will suggest that bondholders communicate with the agency in the United States authorized by the Portuguese Government or Baring Brothers to act in the matter.

[Page 896]

Upon being informed by Portuguese Government with whom American bondholders may deal in the United States, you may withdraw note September 21, 1925.

Please urge Portuguese authorities to expedite consummation of matter as suggested above, in order that notice may be communicated to American bondholders as soon as possible.

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