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Memorandum by the Chief of the Division of Near Eastern Affairs (Shaw)

I called on the Greek Minister, at the Legation, this afternoon and after reading to him Section 3 of the Seligman Loan Contract I told him that I had received, this morning, a call from representatives of Seligman & Company and Robert Monks & Sons. These gentlemen, I explained, had expressed a certain anxiety as to whether the three Governments represented on the International Financial Commission would, in accordance with the wishes of the Greek Government, instruct their delegates on the Commission so as to permit the service of the Seligman loan being assured by the Commission. I told the Minister that I had replied to the representatives of Seligman & Company and Robert Monks & Sons that in the first place I was not by any manner of means convinced that the difficulties which they anticipated would actually be realized and that in any event I presumed that the Greek ministers in London, Paris and Rome would receive appropriate instructions to press for early and favorable action by the Governments to which they were accredited. The Minister entirely shared my views in this respect. He asked me whether I thought it would be a good plan for him to telegraph his Government. I suggested that a telegram might be helpful along these lines: That representatives of Seligman & Company had called at the State Department and the State Department had thereupon informally spoken with the Minister to the general effect that it was presumed that the Greek Government had instructed the Greek ministers at London, Paris and Rome appropriately in connection with the steps being taken to assure the service of the Seligman loan by the International Financial Commission. The Minister said that he would at once send such a telegram.

I told the Minister that it was my understanding that the Greek Government had already made a formal request upon the Financial Commission and that the delegates on the Financial Commission had made some sort of a reply to the Greek Government. As to the nature of this reply I was not clear. I said that I gathered that it was not altogether responsive and I referred to the possibility that the delegates might refer the question to their Governments in none too favorable a light. I said that we had telegraphed Mr. Skinner in an endeavor to obtain information on this point.

G. Howland Shaw