811.51632 National City Bank/14: Telegram

The Ambassador in Brazil (Morgan) to the Acting Secretary of State

11. Foreign Minister requests me to telegraph you that your intervention has succeeded in modifying the attitude of his Government regarding the National City Bank affair. Period for meeting fine expires tomorrow. Since the Government considers that the banking regulations do not provide for payment through a “termo de responsabilidade” and that form of payment may not be possible, the Bank of Brazil will combine with the National City Bank to make payment easy. Subsequent to payment the way will be open for President Washington Luis to receive Hart and for full discussion between bank and Government of the ultimate amount of fine.