867.77/344: Telegram
The Acting Secretary of State to the Commissioner at Berlin ( Dresel )
1881. Following from Chandler is for Coffin and Deutsche Bank:
“Sinclair very much interested, but because inadequate personal knowledge from own engineers and limited time for investigation suggests following: Sinclair buy for American Syndicate enough shares to control, at price of option, make initial payment of $500,000 against deposit of shares in escrow with Chase National Bank, [Page 772] New York. Transaction to be completed and final payments to be made in three equal annual installments, after satisfactory reports on railways, oil and all other rights are received from Sinclair representatives and provided legal titles are approved by Sinclair, interest on deferred payments to be mutually adjusted. In case Sinclair not satisfied with reports or validity of titles $500,000 to be refunded without interest. Sinclair anxious to secure for American Syndicate interest in Orient Bank and affiliated companies, but only in full cooperation with you, and will require participation by Deutsche Bank. Cooperation with American Government is made prerequisite to any definite arrangement.”
Transmission of above must not be construed as commitment of Department in any way and especially as indicating that Department would favor or support German interest or participation.