867.113 Jones and Lamson Machine Co./10

The Special Adviser to the President on Foreign Trade ( Peek ) to the Secretary of State

Dear Mr. Hull: I beg to acknowledge receipt of your letter of October 1, enclosing a copy of Mr. Flanders’ letter of September 26 regarding the financing of an order for machine tools which his company, the Jones & Lamson Machine Company, of Springfield, Vermont, hopes to obtain from the Turkish Government. While the case appears to be of the border line variety, I quite agree that the financing of the proposed transaction by an agency of this Government would be open to serious misconstruction as well as being in conflict with the declared policy of this Government. Accordingly the Export-Import Banks will refrain from participating in any financing which may be involved in the proposed transaction.

I am mailing Mr. Flanders a copy of your letter of October 1 and of my letter of this date for his information.

Very sincerely,

George N. Peek