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EXAMPLES OF LETTERS CONCERNING OPERATIONS WITH CURRENCIES AND SHARES

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Ex.1.Study the following letters. Translate the fourth letter in written form.

1. A bank to a currency broker concerning broking commission and opening exchange offices.

........

........

........

Dear Sir,

We thank you for the offer of your services as currency broker and also as our agent in the sphere of currency exchange.

You ask what our terms of cooperation and fees will be, and the answer is very simple: you will get minimum 5% broking commission on all the currency deals you conclude for us. We want to invite you to visit our bank to discuss it personally.

Your offer of opening two exchange bureaus has also seemed interesting to us, and we are likewise looking forward to discussing it with you in person.

Sincerely ...

 

 

2. Board of Directors to a shareholder advising of annual meeting.

......

....

.....

Dear Sir,

We should like to advise you of the forthcoming annual general meeting of the shareholders of our company.

The meeting will take place in Moscow on November 20th and the agenda is the following,

1. Report of the Board of Directors as to the results of the year.

2. Discussion and approval by the meeting of the amount of dividends paid to shareholders.

3. Elections of the new Board members.

Sincerely ...

 

 

3. Shareholder to the Chairman of the Board of Directors concerning the upcoming meeting.

...

......

......

Dear Sir,

We were pleased to learn that the date of the forthcoming general meeting of the shareholders of our company was set for mid-November, as we had requested.

We do hope also that the meeting will come to an agreement about payment of dividends and that those dividends will not be less than 250%, in strict conformity with the good performance of our company.

This is the figure we will forcefully insist upon, and we know this is supported by many shareholders. We do hope the Board of Directors will support it as well.

Hoping for a fruitful meeting,

Sincerely ...

4. Russian financial company to a foreign colleague about investing in Russian Eurobonds.

Moscow, Oct. 15, 2008

To Messrs. J.P. Morgan, New York

 

Dear Sirs,

Our company has considered it a privilege as well as a mutually beneficial business to work with you and we are glad that you share this opinion.



The request we have of you is the following. It is well-known to you as it is to us that the Russian government is preparing to market its Eurobonds in the leading stock-markets of the world. Your company is one of the main organizers of the presentations of these Russian government bonds.

The Russian Deputy Finance Minister in charge of the matter has declared that about one quarter of this issue of Russian Eurobonds can be bought by Russian banks and financial structures - on the same conditions as they are bought by foreigners. This will give Russian companies a chance to increase their experience of work with international financial bodies, to diversify their business, etc.

Unfortunately, words and deeds of the Russian government do not always coincide, and a deplorable double standard persists. Our company is one of those Russian financial structures presumably referred to by the Deputy Finance Minister, and yet we haven been able even simply to get in touch with him or any of his subordinates invested with sufficient authority.



Therefore we shall be obliged to you:

1. If you could take it upon yourself to supply us with all the necessary details concerning the selling of Russian Eurobonds, i.e. provide us with the some package you are giving your western partners.

2. We should also be obliged if you advised in which of the presentations it is best for our representatives to take part. Next month the series of these presentations start in Tokyo and finish in New York, and we are prepared to send our people to those of them which you consider the most promising and useful.

Looking forward to hearing from you soon,

Sincerely ...

 

WORDS AND EXPRESSIONS

1.agenda n — повестка дня

2. forthcoming adj — намеченный, приближающийся

3. deplorable adj — вызывающий сожаления

4. invested with ... authority — облеченный полномочиями

 


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