36
of H.M.G. can be guarateed, and payment
of $1,200,000 made by May 1928, and the
balance by September 1928, he will be
prepared to arrange for the advance of
the necessary funds from such balance
as may be available after the proposed
loan has been issued, and from advances
from the Bank. I am to express the
hope that this solution will commend
itself to the Air Council and to request
that, in view of the necessity for
issuing the loan with as little delay
as possible, the Secretary of State
may be furnished with the Council's
reply at an early date.
I am,
etc.
~?) WALTER ZELLIG