Messrs. Shearman & Sterling to the Secretary of State
[Received July 7.]
Sir: Referring to your letter of March 3, 1927, addressed to ourselves as attorneys for the Finance Corporation of America and for The National City Bank of New York, as Fiscal Agent, with respect to the new Loan Agreement, dated as of September 1, 1926, made between the said parties and the Republic of Liberia, we are advised, by a letter, dated July 1, 1927, a duplicate of which we enclose, that the said Bank, acting as Fiscal Agent under the old loan agreement of July, 1912, duly called for redemption on July 1, 1927, all the outstanding bonds of the 1912 loan, and has paid and is paying off the same as and when presented.
In view of this, we assume that the Department is prepared to recognize the new Loan Agreement of September 1, 1926, as in full force and effect, and to recommend to the President that he take the action required of him with respect to the recommendation and designation of fiscal and other officers.
If we are correct in this assumption, we shall be much obliged if you will so inform us for the information of our clients.
Yours very truly,
- Not printed.↩