868.51 War Credits/673

The Secretary of State to the Minister in Greece ( MacVeagh )

No. 104

Sir: I enclose a copy of a memorandum9 regarding the payment to this Government on July 6, 1934 of $196,128 by the Government of [Page 542] Greece. As explained in this memorandum the sum in question is understood to represent 27½ per cent of the interest payments due May 10 and November 10, 1933, and 35 per cent of the interest payment due on May 10, 1934, on the “new loan” provided for in Part II of the American-Hellenic Debt Funding Agreement of May 10, 1929.

The Department would be interested in receiving your comments on this payment, particularly any information as to whether the necessary funds were released by the International Financial Commission and, if so, whether the release met with the approval of the French member of the Commission.

Very truly yours,

For the Secretary of State:
William Phillips
  1. Not printed.