837.61351/3895: Telegram
The Ambassador in Cuba ( Braden ) to the Secretary of State
[Received 6:55 p.m.]
347. Department’s telegrams numbers 600 May 20, 2 p.m.;51 and 601, May 20, 6 p.m.52 even assuming (as I find myself unable for [Page 189] reasons indicated in my telegram [airgram] number 936 of May 1453 to do) that the technical aspects of the insurance deal are the only ones for consideration it seems apparent from telegram number 601 that those aspects leave very much to be desired.
I am informed that the reinsurance is assigned to the Institute in order to protect it in the case of the bankruptcy of the Rhode Island or the Metropolitan.54 However, I am also informed that the reinsurance is with Lloyds and may be canceled at any time.
I do not understand the “absence of satisfactory alternative” referred to in telegram No. 600 since it is apparent that if we reject the Godoy deal the Institute will certainly produce alternate insurance proposals and if these should prove unsatisfactory we could offer to insure the sugar ourselves (of course at the expense of the Cuban producers).
In accordance with instructions contained in telegram number 601, Norregard55 on behalf of CCC is conveying that message to the Institute.
- See footnote 61, p. 190.↩
- Not printed.↩
- Not printed; it is partially quoted in memorandum of May 29, infra.↩
- The Rhode Island Insurance Company of Providence, R. I., and La Metro-politana, Compañia Nacional de Seguros, S. A.↩
- Nelson Norregard, representative in Habana for Defense Supplies Corporation.↩