Memorandum of Telephone Conversation, by Mr. James H. Wright of the Division of the American Republics

Ambassador Turbay called me to say that he had just received a reply from Bogotá stating that the memorandum7 handed to him by the Department looking to the settlement of the Colombian Agricultural Mortgage Bank dollar bonds was fully acceptable to the Bank. He was sending along to me a formal memorandum in this sense and the Department need not make any reply to this memorandum since he considered it a reply to the Department’s memorandum to him.

The Ambassador was delighted with the Bank’s acceptance and said that he wanted to express to the Department his sincere and wholehearted appreciation for its assistance. He said that steps were already being taken to work out the legal details and other formalities and that he had entrusted this to John Laylin, who had been the attorney in the settlement of the Republic of Colombia bonds. He would want to get together with the appropriate officers of the Department soon to discuss any further necessary action and would let us know when he was ready.

The Ambassador requested that for the time being this settlement be kept on a strictly confidential basis so that public knowledge would [Page 220] not interfere with acquiring the bonds necessary to complete the operation.

  1. Supra.