The Acting Secretary of State to the Chargé in Colombia (Dawson)

No. 565

Sir: Reference is made to the last paragraph of your telegram No. 58 of June 19, wherein you ask to be informed of the present status of the “proposed American semi-official bondholders’ committee”. The Department, presuming that you referred to the “Corporation of Foreign Security Holders” provided for in the Securities Act of 1933, replied that it is not in a position to forecast the eventual action that may be taken regarding the formation of this Corporation.

[Page 257]

It will be noted that Section 211 of Title II of the Securities Act of 1933, a copy of which is enclosed herewith,40 provides as follows:

“This title shall not take effect until the President finds that its taking effect is in the public interest and by proclamation so declares.”

The Department is not aware of the President’s intentions in this matter.

Very truly yours,

For the Acting Secretary of State:
Francis White
  1. 48 Stat. 74, 95.