893.4061 Motion Pictures/9–2445: Telegram

The Chargé in China (Robertson) to the Secretary of State

[Extract]

1652. Arrangement negotiated by Embassy with Ministry of Finance on behalf Hays Organization provided that U. S. film companies would be permitted to remit 15% of net receipts at official exchange rate of 20 to 1, beginning January 1, 1945. The confusion which at first existed as to effective date was due to misunderstanding of instructions of Ministry of Finance by Central Bank. The situation has now been clarified in accordance with agreement.11

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Robertson
  1. Delays and disagreements arose as to carrying out this agreement; the Embassy in China continued to use its good offices in 1946 for a settlement. In telegram No. 1824, October 11, 1946, 7 p.m. (893.4061 Motion Pictures/9–2946), the Acting Secretary of State advised the Consul General at Shanghai that the Motion Picture Association had informed the Department that a settlement of the balance of the 1945 remittances at U.S. $3,789,000 had been reached. The question of exchange for further remittances, however, remained unsettled.