The Chinese Ambassador (Koo) to the Acting Secretary of State

The Chinese Ambassador presents his compliments to the Acting Secretary of State and, referring to previous correspondence regarding the payment by the Chinese Government of the second installment of principal and interest due on July 1, 1948, under the Lend-Lease “Pipeline” Agreement of June 14, 1946, has the honor to inform him that a sum of $2,824,930.75 had been paid to the Federal Reserve Bank for the account of the United States Treasury on October 6, 1948.

The Chinese Embassy is informed by the Universal Trading Corporation, an agency of the Chinese Government in charge of the operation of the 3C “Pipeline” Agreement, that the amount due for payment on July 1, 1948, as the second installment on principal and interest of the said Agreement was less than $2,824,930.75, and that the Corporation has communicated to the Commissioner of Accounts, Fiscal Service, Treasury Department, about this matter.

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The Ambassador will appreciate it if the Secretary would be good enough to communicate the above information to the appropriate authorities.45

  1. The Acting Secretary of State acknowledged this note on November 17.