893.24/8–1849
The Secretary of State to the Chinese Ambassador (Koo)
The Secretary of State presents his compliments to His Excellency the Ambassador of China and has the honor to enclose a statement48 of principal and interest due May 1, 1948, revised, and May 1, 1949 as provided under Sales Contract No. W–FLC (CH) 338 dated May 15, 1946 and supplement no. 1 dated January 24, 1948 between the Republic of China and the United States of America. The contract sets the rate of interest at two and three-eighths percent (2⅜%) per annum on the purchase price and all unpaid interest and provides that it accrue on January 1, 1947 for all property purchased during 1946 and on January 1, 1948 for property purchased in 1947 and on May 1, 1948 for any property purchased in 1948. The contract also provides that the purchase price shall be paid in 30 annual installments due and payable on May 1, of each year beginning May 1, 1948, and that the installment due May 1, 1948 shall be 1/30 of the total purchase price and the installment due May 1, 1949 shall be 1/15 of the total purchase price less the amount of the installment due May 1, 1948.
The Secretary of State informs His Excellency that interest is due May 1, 1949 in the amount of $41,205.16 and principal is due May 1, 1948 in the amount of $136,059.39 and May 1, 1949 in the amount of $145,059.49 making a combined total of $322,323.94, and requests that payment of said amount be made by depositing the sum of $322,323.94 in United States dollars with the Federal Reserve Bank of New York to the account of the Treasurer of the United States.
The Secretary of State also informs His Excellency that a reply has not been received to the communication of May 4, 1949, and that the attached billing is subject to revision when the reply is received.
- Not printed.↩