DEAR ADMIRAL DELANEY:
Document Type:
Collection:
Document Number (FOIA) /ESDN (CREST):
CIA-RDP61S00527A000100180091-8
Release Decision:
RIFPUB
Original Classification:
K
Document Page Count:
2
Document Creation Date:
December 12, 2016
Document Release Date:
July 15, 1998
Sequence Number:
91
Case Number:
Publication Date:
December 6, 1957
Content Type:
LETTER
File:
Attachment | Size |
---|---|
CIA-RDP61S00527A000100180091-8.pdf | 100.2 KB |
Body:
Approved Release 2001/08/30 : CIA-RDP61S00A000100180091-8
EXPORT-IMPORT BANK OF WASHINGTON
Washington 25, D. C.
December 6, 1957
Admiral Walter S. DeLany
Deputy Director, I.C.A.
Mutual Defense Assistance Control
1106 G Street, N. W.
Washington 25, D. C.
Dear Admiral DeLanya
The Export-Import Bank has requests pending from two United
States exporters to participate with them in financing sales to purchasers
in Finland.
The first request has been made by the Baldwin-Lima-Hamilton
Corporation, Lima., Ohio, for the establishment of a credit of approximately
$187,000, to assist in financing the sale of two power shovels to
Vesi-Pekka CY, Kaivokati lo, Helsinki, Finland, with the guaranty of
A/B Nordiska, Foreningsbanken, Helsinki. The applicant has stated that
the two shovels would be used in connection with the construction of hydro
power plants and in the cleaning of waterways. Both the purchaser and the
proposed guarantor are represented to be privately owned. Communications
with the American Embassy in Helsinki in regard to this proposed trans-
action are covered by Department of State Despatch No. 194, dated Septem-
ber 5, 1957, and Despatch No. 190 of the American Embassy, Helsinki, of
September 10, 1957.
The second request for financial assistance of the Export-Import
Bank has been made by the Farrel-Birmingham Company, Incorporated, Ansonia,
Connecticut. The request is for the establishment of a credit of approxi-
mately $75,000 to finance 60% of the contract price of a roll grinder to
Tammerfors Linneoch Jern-Manuf aktus Aktie?Bo?,,g, Tammerfors, Finland, also
with the possibility of a guaranty of A/B Nordiska Foreningsbanken, Helsinki,
Finland, being offered. In connection with this transaction we refer you to
Department of State Despatch No. 337 dated October 28, 1957, and Despatch of
the American Embassy in Helsinki No. 325, dated October 31, 1957.
Before proceeding with consideration of the aforementioned requests,
the Bank should appreciate receiving from you advice as to whether or not the
assistance of this Bank in financing the proposed sales would be barred be-
cause of the provisions of the Mutual Defense Assistance Control Act of 1951.
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? Approved Release 2001/08/30: CIA-RDP61S0Q5-7A000100180091-8
We are enclosing a copy of the Bank's letter of November 19,
1957, addressed to Mr. Elmer B. Staats, Executive Officer, operations
Coordinating Board, raising the same general question and also the
question as to the application of the Battle Act to possible financial
assistance by the Bank under the so-called "Cooley Amendment". We
understand that your office will be consulted in regard to this matter.
Yours very truly,
/s/ Walter C. Sauer
Executive Vice President
Approved For Release 2001/08/30 : CIA-RDP61S00527A000100180091-8