811.20 Defense (M) Chile/74b: Telegram

The Secretary of State to the Ambassador in Chile ( Bowers )

623. Department’s 571, December 12, 1 p.m. The Department and the Metals Reserve Company are very anxious that a conclusion be reached in the outstanding matters with Chile—the increased price and production of copper, the copper tax matter, and the overall purchase agreement. In connection with the latter, the Metals Reserve Company has asked the Department to state that recent events will not make any change in the plans of the Metals Reserve Company to proceed with the consummation of the proposed agreement. On the contrary, the Metals Reserve Company proposes (provided that the question of the copper tax is satisfactorily settled) to go through with the proposed overall agreement along the lines and in the spirit discussed to date. Please impress upon the Chilean authorities the necessity for speedy action in these matters, and report fully to the Department.