Instruction No. 14

INSTRUCTION PROVIDED IN THE LOAN
AGREEMENT BETWEEN THE YOKOHAMA
SPECIE BANK, LTD., AND THE PHILIPPINE
NATIONAL BANK

March 31, 1942

Mr. VICENTE CARMONA
President, Philippine National Bank
Manila

DEAR SIR:

You are hereby instructed in accordance with Article No. 2 of the Loan Agreement between Yokohama Specie Bank, Ltd., and the Philippine National Bank, Manila, dated February 2, 1942, as follows:

“You will give a loan to Executive Commission of the Philippines up to the extent of ₱5,909,000.00 (Five million nine hundred and nine thousand pesos only) in Philippine currency.”

Yours truly,

Y. HAYASHI
Director-General of the Japanese
Military Administration

 S. KOBAYASHI
Bureau Chief, Financial Department

Source: Office of the Solicitor General Library