851.503193 Manchuria/25
The Ambassador in France (Straus) to the Secretary of State
[Received March 29.]
Sir: I have the honor to report that methods looking to the financing of French activities in Manchuria appear to have taken some form here in the foundation of the “Banque Franco-Mandchoue”.
The concern was registered with the authorities as an incorporated joint stock company on January 10, 1934, with a capital of 1,500,000 francs in 3,000 shares of 500 francs each.
The “Chosen and Manchuria Enterprises Company Limited” hold 2,690 of these 3,000 shares. It is understood that the latter is controlled by the French National Association for Economic Expansion, whose representative, it is reported, has recently concluded tentative arrangements which involves the participation of French industry in Manchuria, (see Embassy’s despatch No. 698 of March 993).
The statutes of the bank registered with the authorities here (and to which a member of the Embassy staff has had access) indicate that its purpose is to:
“engage in all forms of commerce, and business generally. It may carry on, notably, in its own name, or in the name of a third party, all financial, commercial, industrial, maritime, real estate and agricultural operations, in France as well as abroad, particularly in Asia and in the Far East; as well as all banking, discounting, credit, stock exchange, brokerage and exchange operations, and subscribe to issues of securities and to purchase rentes or other Government securities, notes, bonds, or other investments; it may undertake the service of interest and amortization on all government or other loans; and participate in all business undertakings or enterprises related to the purpose for which company is established.…”94
Apart from the reported connection of the French National Association for Economic Expansion with the new concern, it appears of interest to mention that the Franco-Asiatic Bank is said to have had much to do with the constitution of the “Banque Franco-Mandchoue”. In fact, the offices of the latter, as well as the “Chosen and Manchuria Enterprises Company Limited” are situated with the Franco-Asiatic Bank at 9 rue Boudreau, Paris.
Respectfully yours,