811.20 Defense (M) Argentina/310c:
The Secretary of State to
the Chargé in Argentina (Reed)
11, 1942—8 p.m.
1358. Following from U. S. Commercial Company:
- “1. We are advised there are immediately available in
Buenos Aires approximately 50 kilos of platinum which can be
purchased on a COD Buenos Aires basis.
- 2. You are authorized and requested to purchase these
(approximately) 50 kilos of platinum COD Buenos Aires at a
sum to be expended for this purchase not to exceed $400,000.
U. S. C. C. will cable funds when required for
- 3. This is a preclusive item; therefore, if at any time
this authorization does not serve its purpose please cable
- 4. It should be emphasized that no transfer of funds
should be made until the platinum is actually in your
possession and has been appraised by competent platinum
experts. It might even be suggested to the principals that
the metal be deposited in escrow, subject to assays which
might be secured from reputable firms either in Rio de
Janeiro or in Buenos Aires. If neither of these places is
acceptable for purpose of assays, proper samples should be
sent to the United [Page 320]States for final analysis at Ledoux and Company. If it is
refined crude platinum, it should run not less than 975
fine. If it is represented as crude platinum, and if it
originates in Colombia, it should not run less than 925 to
950 fine. If the metal is crude, assays should be made for
iridium and rhodium as well, although it is possible that
the seller may wish the palladium determination.
- 5. T. J. Williams, Metals Reserve representative in Buenos
Aires, is fully informed regarding this matter and should be
consulted in the execution of this authorization.”