422.11G93/1052: Telegram

The Ambassador in Great Britain (Davis) to the Secretary of State

3051. In reply to note transmitting substance of your 5790 August 9th, 5 p.m., the Foreign Office under date of September 11th states as follows:

“I note with satisfaction Your Excellency’s remarks as to the prospective improvement in the company’s affairs and I trust that the results will be such as to render it unnecessary for the British interests concerned to take into further consideration the question of having recourse to foreclosure.

While most anxious continue to cooperate with the United States Government in this matter I must at the same time point out to Your Excellency that should the anticipated improvement not be realized His Majesty’s Government would hesitate to incur the responsibility of endeavoring to dissuade the Council of Foreign Bondholders from adopting a course which they may consider to be the only means of safeguarding the British interests involved in this undertaking.”