61 STAT.] PERU-AIR TRANSPORT SERVICES- Dec. 27,1946 2607 May 6, 8, July 21, 1947 with reference to the negotiations leading up to the Air Transport Agreement between the Republic of Perd and the United States of America signed on this date has the honor to acknowledge the receipt of His Excellency's note No. 6 -3/258 in which certain information regarding possible future routes considered during the course of the negotiations is communicated on behalf of the representatives of the Peruvian Government. Prentice Cooper avails himself of this occasion to extend to His Excellency Dr. Enrique Garcia Sayan the renewed assurance of his highest and most distinguished consideration. LIMA, December 27, 1946 The PeruvianAmbassador to the Secretary of State PERUVIAN EMBASSY WASHINGTON 6. D.C. M/109.- May 6, 1947 YOUR EXCELLENCY: I refer to the text of the notes of the Minister of Foreign Affairs of Peru and the Ambassador from the United States which were ex- changed on December 27, 1946 and effected at the time of the conclu- sion of the bilateral Transport Agreement between the United States and Peru. This text was made public on April 29, 1947 by the State Department. As a consequence of this publication, the oral agree- ment on the application of the Peruvian International Airways for a permit to enter the United States was postponed until May 9, 1947. I have been instructed by my Government to direct your attention to the English translation of the Foreign Office note of December 27, 1946 which had reference to participation by United States and Canadian capital in an airline to be designated by the Government of Peru (in this case the Peruvian International Airways) to enjoy the rights granted by the United States to a Peruvian airline. In order that there may be no possible misinterpretation as to the mutual understanding, my Government desires to invite your atten- tion to the following matters: (1) The English word "held" employed in the translation of each of the three conditions does not have the meaning of the Spanish words "en manos de". A more accurate redaction would be the literal translation of the words, namely "in the hands of". (2) It will be recalled that in the discussions held before the ex- change of the above mentioned notes with respect to the third con- dition, it was the agreement that the balance of the capital of the Company which was not in the hands of Peruvian nationals should be in the hands of nationals of the United States and of Canada; and that the relative participation in this balance by the nationals of these two countries should not exceed a limit of 40% for one and 60% for the other, either way, based on the total non-Peruvian capital. This would permit a maximum discrepancy of 50% in the relative par- ticipations of the national groups of the United States and Canada,
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