837.51 Public Works Debt/153: Telegram

The Ambassador in Cuba (Wright) to the Secretary of State

133. Embassy’s telegram number 132, November 2, 2 p.m., Cuban Ambassador told Crafts today opposition among Congressmen made it necessary to reduce interest rate on junior issue from 5 to 4½%. Crafts obtained Powers’ consent to such reductions and so informed the Cuban Ambassador who then requested that Warren Brothers waive interest from July 1, 1938 to January 1, 1939 which Crafts declined to do.

Meeting is at present taking place between the President, Batista, Cuban Ambassador and Parliamentary leaders at which this matter is being discussed. Fraga tells Crafts that he will not leave Habana until the bill is introduced in Congress.