882.635 Neep/25: Telegram

The Secretary of State to the Minister in the Netherlands ( Gordon )

73. Your 107, December 1, 3 p.m.60 Information from Monrovia indicated that Neep has been unable satisfactorily to answer questions relative to its capitalization, number of shares of stock issued and par value of shares, the principal stockholders and number of shares [Page 856] owned by each; also whether it has present unobligated assets sufficient to finance 50 percent of estimated capital investment of 6 to 7 million dollars and of what assets consist. Caffe, Neep’s representative in Liberia, has stated that organization relies on substantial resources of four directors, the three Blochs and Ginsberg, and that revolving credit of 25,000 pounds has been opened at Bank of Monrovia. Telegrams signed “Amsterdamsche Bank” sent to Liberian authorities state that Neep’s “Means are considerable and several times more than nominal capital; management highly respectable and capable and would not take engagements they could not fulfill. Information is given confidentially and without our responsibility”. It is reported from Monrovia that it is becoming increasingly apparent that Neep’s financial outlay is negligible for a 7 million dollar project and that promoters are probably seeking concession as a speculation.

Please convey foregoing to Patton and cooperate with him and Commercial Attaché, if you perceive no objection, in endeavoring most discreetly to ascertain information on Neep’s background, potential resources and whether above quoted message from Amsterdamsche Bank represents its considered opinion.

  1. See footnote 59, p. 851.