Office of the Historian

811.20 Defense (M) Bolivia/83: Telegram

The Acting Secretary of State to the Chargé in Bolivia (Dawson)

Washington, March 3, 1942—5 p.m.

118. Your no. 121, February 28, noon. Department in entire agreement with you. Hochschild, who was empowered to negotiate by the Banco Minero, accompanied by Foy, Vice President of the Chemical Bank, who was authorized by the Banco to sign negotiations made firm offer to Metals Reserve which was formally accepted by latter. Both Hochschild and Foy now confirm that the deal was definitely closed.

Bolivian Chargé d’Affaires59 here has been orally informed that if the generous terms are not confirmed at once, the negotiations will be off, no contract will be made and Office of Price Administration and other agencies will act unilaterally.

Please bring the above situation immediately to the attention of the Bolivian Government and cable their reaction.

Welles
  1. Raúl Diez de Medina.↩