825.6374/1185
The Ambassador in Chile (Culbertson) to the Acting Secretary of State
[Received August 10.]
Sir: I have the honor to acknowledge the Department’s instruction No. 1512 of June 28, 1933, transmitting certain correspondence with reference to the interests of the holders of the Anglo-Chilean Consolidated Nitrate Corporation 20 year 7% Sinking Fund Debenture bonds.
The question of the protection of these bonds totalling $15,000,000 has been presented on various occasions to the Minister of Finance and [Page 213] the Commission of Liquidators by the President of the Anglo-Chilean Consolidated Nitrate Corporation, Mr. Medley G. B. Whelpley. As will be seen from the copies of the enclosed correspondence exchanged between Mr. Whelpley and the Government83 on behalf of the issuing bankers these representations resulted in certain minor modifications in the project of law. However, as the issuing houses still maintain that the nitrate bill contains many features inequitable to the interests they represent and as their last protest remains unanswered, I deemed it advisable to supplement Mr. Whelpley’s efforts by a talk with the Minister for Foreign Affairs. Accordingly I informally expressed our interest that consideration be given to the petition of the issuing bankers in behalf of the holders of the 7% debentures of the Anglo-Chilena. I mentioned in particular the interests of Lehman Brothers, Bancamerica-Blair Corporation, and Goldman, Sachs & Company.
Respectfully yours,
- Not printed.↩