352.115 Warner and Co., Wm. R./4: Telegram
The Consul General at Barcelona (Perkins) to the Secretary of State
[Received 9:40 p.m.]
My September 6, 10 a.m.20 International Banking Corporation has deposit of 117,000 gold pesetas in account of Laboratories y Comercio Substancia, Spanish corporation and not American as stated by Warner in Department’s August 7, 4 p.m.21 Thirty percent of stock in the name of American citizens and 70 percent in name of Warner’s Spanish representative who has left Barcelona.
This gold must be turned in to the Treasury and bank has inquired whether it should comply. I have replied that I could not advise in a matter essentially one for the bank itself to determine. I added, however, that Warner Company, through the Department of State, had declared this corporation to be wholly owned by American citizens and therefore I was addressing a letter to the Generalidad stating that I was reporting this matter to my Government and requesting that in the meantime no action be taken which might be prejudicial to the American interests involved.
In my opinion it is questionable if we can go far in protecting such American interests as have been incorporated under Spanish law and have none or little stock registered in American names. To do so is [Page 705] likely to prejudice the protection of American interests which have chosen not to obscure their status in this manner. I should appreciate receiving as soon as possible an expression of the Department’s opinion for general guidance.22
- Apparently refers to undated telegram, p. 697.↩
- Not printed.↩
- Department’s telegram September 15, 1 p.m., to the Consul General at Barcelona gave him detailed information concerning the American ownership of the company, and instructed him to advise the local authorities of this ownership and to endeavor to protect the property (352.115 Warner and Co., Wm. R./9).↩