The Sun.
London, England, 1849-01-05 00:00:00

PERUVIAN BONDHOLDERS.

The long-pending disagreements, difficulties, and dis-
cussiors, between the hollers of Peruvian Bonds and
the Peruvian Government, appear to be now approaching
a termination. At a meeting of bondholders, held yes-
terday at the London Tavern, the Chairman, G. Robin-
son, Esq., entered into a very full, and, upon the whole,
satisfactory statement, of the result of the negotiations
which have recently taken place between the Committee
of Bondholders and the Peruvian Minister now in this
country, and whose conduct in the transaction appeared
to meet with a favourable reception. The terms ob-
tained by the exertions of the committee seemed to be
considered, by the meeting, the best that, under all cir-
cumstances, they could reasonably expect. From the
Ist April next, one-half the proceeds arising from the
exportation of guano to this country is to be hypo-
thecate d to the payment of interest on the Bonds ;
though the whole revenue of the Republic of Peru
still remains responsible for the debt. The divi-
dends payable on the Active Bonds are to bo gradually
increased until they arrive at 6 per cent. per annum ;
and these on the Deferred Bonds to be stmilsrly in-
eriesed until they reach 3 per cent. per annum. The
Chairman stated that since he had been in the room, he
had received a letter from the Peruvian Minister, to the
fleet that he htid made an arrangement with Messrs.
Antony Gibbs and Co. for the reception of guano from
Peru, half the produce of which is to be paid through
those gentlemen, and appropriated to the fulfilment of
the agreement conditionally made, so that Messrs. Gibbs
end Co. may be considered as in some measure guaran-
tees for the good faith of the Peruvian Government.
There is noefear entertained of the money being ap-
propriated to any other than its legitimate object,
as was the case on a former occasion, in which the house
of Reid, Irving and Co., was concerned. The committee
were fully satisfied of the ability of the Peruvian Go-
vernment to perform the contract now agreed upon ; but
they were of opinion that no good would result from
further delay ; for even if they eventuelly obtained
better terms, it would only be by means of a procrasti-
nated less. The feeling of the meeting evidently went
with that of the committee, who have now the prospect
of seeing an agreeable conclusion to their labours, which
have extended over the long period of three and twenty
years. It is almost unnecessary to add, that the recom-
mendation of the chairman, to agree to the terms pro-
posed, met with unanimous assent ; with, however, the
understanding that the committee will procure better
conditions if they can.
It may be satisfactory to annex an extract from the
letter addressed by Senor Osma, the Peruvian Minister,
to the Chairman of the meeting, and to is hich allusion
has been already made. The letter states, "I have also
the satisfaction of adding, that I have arranged with
Messrs. Antony Gibbs and Sons to advance, on the Ist
October next, a sum which I calculate will be sully suffi-
cient for discharging the first half-yearly dividend which
I have proposed to the bondholders shah be paid to them
et that time."

The foregoing arrangement underwent some favour-
ab!e modifications, at a conference held at the house of
the Peruvian Minister, on the 28th of December, and we
subjoin a copy of the minutes taken on that occasion:—
" 1. In reference to article 1 of M. °ma's proposal to
the Committee of Bondholders, dated the 21st inst., it is
agreed that the interest on the Active Bonds shall com-
mence to run from the Ist April, 1849; that the same
shall be 4 per cent. for the first year, and shall increase
afterwards at the rate of one-half per cent. per annum,
until it shall amount to 6 per cent.
'•2. In reference to ankle 2, it is agreed that the in-
terest on the Deferred Bonds shall commence to run
from Ist April, 1852; and that it shall be for the first
year 1 per cent., and that it shall increase in every suc-
ceeding year one quarter per cent. pee annum, until it
shall amount to 3 per cent.
"3. Whatever surplus funds mny be available from
the one half of the prodeeds of the guanO, as proposed,
shall be applied- to the redemption of the Bonds, in the
proportion of three-fourths ACtive Bonds and one-fourth
Deterred Bonds. ' (Signed)
"J. J. DE OSMA, G. R. ROBINSON,"
• . •-:, ': J. D. POWLES, H. BLAND."
JAS. CAPEL,
The following is the substance of the principal resolu-
tions passed at the meeting:— _.
" 1. That the Committee of Spanish-American Bond-
holders be authorised to conclude, with his Excellency
the Peruvian Minister, an agreement for the adjustment
of the Peruvian debt on terms not less favourable than
those this day submitted to this meeting, it being under-
stood that the whole resources of the Republic of Peru
remain responsible for the said debt.
" 2. That on the issue of the Deferred Bonds compre-
hended in the:said propositions, 2f per cent. thereof shall
be placed at the disposal of Spanish-American Bond-
holders, fur the purpose of defraying the expenses of the
Committee, and for the remuneration of the agents of
the Committee at Lima.
" That the best thanks of this meeting be respectfully
offered to the Right Hon. Viscount Palmerston, for the
instructions given to the British Minister in Pern to
afford the friendly support of the British Government to
the claims of the Bondholders."