Papers relating to the foreign relations of the United States, 1928, Volume III

871.51 Rumanian Loan/42

The Secretary of State to Blair & Company, Incorporated, and Chase Securities Corporation

Washington , August 15, 1928 .

Sirs: I beg to acknowledge the receipt of your letter of August 11, 1928,¹⁹ stating that you contemplate participating in a credit which is being arranged for the Rumanian Government, in the probable amount of the equivalent of £4,000,000 Sterling, of which New York will take $5,000,000.

In reply I beg to state that, in the light of the information before it, the Department of State offers no objection to this financing.

You of course appreciate that, as pointed out in the Department’s announcement of March 3, 1922,²⁰ the Department of State does not pass upon the merits of foreign loans as business propositions nor assume any responsibility in connection with such transactions, also that no reference to the attitude of this Government should be made in any prospectus or otherwise.

I am [etc.]

For the Secretary of State:

W. R. Castle, Jr.

Assistant Secretary

19. Not printed.
20. Foreign Relations, 1922, vol. i, p. 557.