Reel 17427 - Page 1542

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Title

Reel 17427 - Page 1542

Description

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Character Count: 2095
Word Count: 349

Source

https://image-uab.canadiana.ca/iiif/2/69429%2Fc0959c66d44j/full/max/0/default.jpg

Date

1941/1945

Rights

Public Domain

Format

image/jpeg

Language

fra

Text Item Type Metadata

Text

From: Vichy (Diplomatie) (FIERRE LAVAL)
To: Ankara (Ambarrance)
3 June 1944
FRE

No. 254-239 (6 parts complete)

1. Turkish Debt 7--U--a --U--b. An agreement concluded 24 May with the National Association of French Holders of Stocks and Shares, provides for the total purchase of bonds circulating in France, (Talong?) with all their bonds which (Thave fallen (?due?) and are unpaid, at the net price of 866 French francs a bond. The net price comes to 856 francs after deduction of expenses and commissions. The holders will, in addition, have to pay the French taxes and brokerage commissions. The period fixed for the sale of the bonds will expire 31 December 1944. (Part 2) After this date and until the expiration of a period which will come to an end 6 months after the cessation of host-ilities --50-- sale of the holders who will give proof of a case of absolute necessity.

The Turkish delegation, likewise, concluded agreements with the BANQUE DE FRANCE and the Exchange Office for the financing of purchasing transactions and with the (?Government?) for the carrying out of these transactions. I will give you specific information soon concerning these agreements.

The National Association has published an opinion analysing the Turkish proposal (Part 3) and recommending that the French holders adhere to it. A second opinion will be published later on, when certain authorizations will have been obtained from the German authorities and when several fiscal questions will have been settled, in order to ask those concerned to turn over their bonds to be sold.

In addition, the Turkish Government had an opinion published on 16 May, indicating that the redemption before due dates of the bonds, with all bonds in arrears attached, will be carried into effect as of 25 May and for a period of ten years at the option of the holders and at the rate of 665.75 French francs (Part 4) and of 41.44 Swiss francs.

Consequently, the French holders will have the option of either selling their bonds at 856 French francs, or of waiting until the

-continued- Examination Unit,

File D-5125