Congressional Edition Volume 4916

Congressional Edition Volume 4916

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...of the new 5 per cent bonds as will produce an income equivalent to that payable under the 1897 arrangement, they have reason to feel very grateful alike to the council of foreign bondholders and to Messrs. Speyer & Co. for bringing about a welcome, if tardy, termination of what threatened to be a permanent default. Extracts from the Smith American Journal, London, June 3,1005. THE COSTA RICA DEBT. Fluctuating between 29 as highest and 17 as the lowest, and opening this year at 28, Costa Rica A bonds have this week advanced to 58, much of this improvement having taken place quite recently. Undoubtedly the current quotation is a record one, and has, 1 understand, been brought about by heavy purchases on behalf of Messrs. Speyer in connection with the funding arrangement announced yesterday. Costa Rica has been in default so long that bondholders are to be congratulated on a deal which gives such a high value to their bonds, for which they are greatly indebted to Messrs. Speyer. Of course, this great American firm are not philanthropists, and it is believed that behind them they have at least the moral support of the United States Government. Several clauses in the agreement would seem to point to this, for it would appear that the new loan is to be specially secured upon the Republic's customs receipts, which arc to be collected through a customs agency to be designated by Messrs. Speyer; but should default take place, then designations may be made by the President of the United States, who, in another clause, also has the right to request Costa Rica to submit any disputes or questions arising to arbitration. Ihe holders of Costa Rica B bonds will get 50 of the new 5 per cent funding bonds, plus arrears of interest more

Product details

  • Paperback
  • 189 x 246 x 27mm | 939g
  • United States
  • English
  • black & white illustrations
  • 1236849612
  • 9781236849618