No. 22693

423 F.2d 638 ASOCIACION DE AZUCAREROS DE GUATEMALA 4a. Av. 14-53(1) Guatemala City, Guatemala, Plaintiff-Appellee, v. UNITED STATES NATIONAL BANK OF OREGON, PORTLAND, OREGON, Defendant-Appellant. No. 22693. United States Court of Appeals, Ninth Circuit. February 18, 1970. Howard M. Feuerstein (argued), Clarence R. Wicks, Robert D. Geddes, of Davies, Biggs, Strayer, Stoel & Boley, Portland, Or., for appellant. Clifford Carlsen (argued), of King, Miller, Anderson, Nash & Yerke, Portland, Or., William D. Rogers, of Arnold & Porter, Washington, D. C., for appellee. Before MERRILL and DUNIWAY, Circuit Judges, and BURKE, District Judge. * MERRILL, Circuit Judge: 1 By this diversity action appellee Association seeks recovery of sums allegedly due under an irrevocable letter of credit issued by appellant Bank. From judgment in favor of the Association the Bank has taken this appeal. 2 On June 7, 1966, the Bank issued an Irrevocable Commercial Letter of Credit to the Association. The letter related to a shipment of sugar sold by the Association to one Greenberg and consigned to him. By the letter the Bank agreed to pay 90 per cent 1 of the invoice value of the sugar upon…