825.516/165: Telegram
The Ambassador in Chile (Culbertson) to the Secretary of State
[Received 5:48 p.m.]
106. Referring to my telegram No. 100, June 18, 11 a.m., six new Government directors have not yet been appointed. National City Bank suggested yesterday to the Minister of Hacienda the desirability of repealing decree law Number 38 in order to restore Central Bank to status quo ante. While the Minister seemed favorably inclined it is not probable this action will be taken. National City Bank will continue this week to meet drawings but it should be pointed out that these transfers involve only funds made available by the exchange control law of which the Central Bank is trustee and which the Central Bank reports are being deposited with the National City Bank