893.51/2–1846: Telegram
The Secretary of State to the Embassy in China
493. Cotton agreement signed Mar 14. Simultaneous announcement to be made by Govt of China and Eximbank Wed A.M. Mar 20, also simultaneous announcement of transportation credits approved in principle (Deptel 335, Feb 21) negotiation of contracts for which now in process comprising: Coast-wise ships $6,843,750; railway repair materials and equipment $16,650,000; power plants $8,800,000; coal mining equipment $1,500,000; total $33,793,750. Credit for coal mining equipment approved Mar 13, terms 20 years 3 percent, may be increased by Bank to finance purchase equipment approved by Pierce now conducting coal mine survey.