Note 1 — III. GOVERNMENT OF, BY, AND FOR THE NATIONAL CITY BANK

The National City Bank originally (about 1911) purchased 2,000 shares of the stock of the Banque Nationale d'Haiti. After the Occupation it purchased 6,000 additional shares in the hands of three New York banking firms. Since then it has been negotiating for the complete control of the stock, the balance of which is held in France. The contract for this transfer of the Bank and the granting of a new charter under the laws of Haiti were agreed upon and signed at Washington last February. But the delay in completing these arrangements is caused by the impasse between the State Department and the National City Bank, on the one hand, and the Haitian Government on the other, due to the fact that the State Department and the National City Bank insisted upon including in the contract a clause prohibiting the importation and exportation of foreign money into Haiti subject only to the control of the financial adviser. To this new power the Haitian Government refuses to consent.