893.51/7–2646: Telegram
The Ambassador in China (Stuart) to the Secretary of State
[Received July 26—9:42 a.m.]
1204. For transmission to Eximbank, [Treasury] and Commerce. Following is text of self-explanatory letter dated Nanking July 19, 1946 addressed to American Embassy and signed on behalf of the Minister of Foreign Affairs by the Vice Minister Mr. Liu Chieh.
“I have the honor to inform you that the Executive Yuan, on behalf of the Govt of the Republic of China, has approved the borrowing of $2,600,000 from the Eximbank of Washington, D. C. for the purchase of 16 ships, namely, Wichita Falls, City of Philadelphia, City of Houston, Ozark, Chippewa, Norlago, West Texas, International, Colorado, Point San Pedro, Carib Queen, Norindies, San Antonio, Fort Worth, Grey Lag and Alamo upon terms providing for payment of principal in 20 semiannual installments beginning October 1, 1951 with interest at 3½ percent per annum payable semiannually. The Executive Yuan has authorized Dr. S. C. Wang, chairman of the Chinese Supply Commission in Washington, to execute on behalf of the Govt a credit agreement containing such other terms and conditions as may be required by the Export-Import Bank, and to execute and sign promissory notes evidencing advances against such credit. The Executive Yuan has further authorized Dr. S. C. Wang or such person or persons as he may designate in writing to do any and all other acts in connection with effecting the loan and carrying out the agreement.
[Page 996]In consequence of the foregoing action by the Executive Yuan, the agreement and all acts performed pursuant thereto by the above designated representative will be valid and binding on the Government of the Republic of China.
It will be appreciated if you will be so good as to cause the foregoing information to be transmitted by telegraph to the appropriate authorities in Washington.”