821.51/988a: Telegram

The Acting Secretary of State to the Minister in Colombia (Caffery)

47. Department advised this afternoon by Lancaster that the contract for the additional four million dollars will be signed on Monday41 and the money will be turned over to Colombia on Tuesday. At the [Page 37]same time the outstanding credits will be renewed for 90 days at the same interest rate, namely 7 per cent and without the opening commission recently asked for.

The bankers added that the Bank had received information from Bogotá that a satisfactory arrangement was being made regarding the payment of expenses but the Bank has no information regarding it.

  1. June 29.