824.51/8–146: Telegram

The Ambassador in Bolivia ( Flack ) to the Secretary of State


749. Bolivian Development Corporation urgently needs funds maintain construction Cochabamba Santa Cruz highway. Three promissory notes totaling $1,100,000 sent to Exim Bank over month ago not discounted allegedly due error in certification signatures. Corporation has received telegram from Washington manager Egger77 stating in part:

“Our suggestion is that strong pressure be placed upon American Embassy to intercede in our behalf for prompt payment notes now in possession Exim Bank inasmuch as similar notes with similar objectionable features have been paid in past.”

If Egger has not contacted Department, Embassy suggests he is [Page 394] not adequately serving Corporation.

In view of importance Corporation’s activities to Bolivian American relations, recommend Department discuss case with Exim Bank with view ascertain whether Exim Bank’s reasons for not purchasing notes are justified.

  1. Rowland Egger, American representative, Board of Directors of the Bolivian Development Corporation.