800.51W89 Latvia/101: Telegram

The Secretary of State to the Chargé in Latvia (Cole)

34. Your 66, September 14, 10 a.m. Reply formally to the Latvian Government that the United States takes due notice of the intention of that Government to postpone the principal payment in the amount of $37,000 represented by Bond No. 10, dated December 15, 1922, maturing December 15, 1932, in accordance with the option granted under Paragraph 2 of the funding agreement. There is no authority under the debt funding agreement between Latvia and the United States to postpone the payment of Bond No. 2–A, dated December 15, 1930, maturing December 15, 1932, in the principal amount of $9,200, representing a part of the matured debt funded under Paragraph 5 of the debt funding agreement, nor the interest accruing on the entire debt. It will, therefore, be necessary for the Government of Latvia to pay to the United States on December 15, 1932, the principal amount of Bond No. 2–A above mentioned and the semi-annual interest due that day in the amount of $102,660. This last-mentioned sum is to be credited with the amount of $7.88, representing an overpayment made by Latvia in connection with the interest payment due on June 15, 1931. The total amount to be paid, therefore, on December 15, 1932, will be $111,852.12.