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The Secretary of State to the Chargé in Nicaragua (Hanna)

176. Department’s 175, December 23, 6 p.m. At the meeting of the Board of Directors of the National Bank on December 24 the Nicaaraguan representatives made no request that the American directors continue after December 31. In view of this the former bankers continued with their plans to turn over the management of the bank to the two senior Nicaraguan officers on December 26.

The Department in informally requesting the bankers to continue their connection with the bank for the present acted in accordance with President Moncada’s request as conveyed in your 283, December 6, 4 p.m. The Nicaraguan members of the Board of Directors, however, apparently received no instructions in the premises.