The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-24
pledged as security for the payment of the interest
ana The reclamation fund which WAS then established.

pledged as a security for the payment of the interest
and the redemption fund which then established
In 1851 however the Interest had got greatly in
Fear and an arrangement was entered into between
the Mexican government and the bondholders under
which the latter were to receive the sam oftwo mil
lions and half of dollars. being part of ne sum of
fifteen million dollars paid by the United States as
compensation for the cession of part of the Mexican
territory. and this sum they were TO take in full
discharge of all arrears of interest mp to that date
They were further to reduce the rate of interest to
three per cent for the punctual payment Of which
the government agreed TO set apart rs per cent of
the import dues of the maritime and frontier custom
houses 10 per cent Of the export duties in the Paci-
tic ports, and hive per cent Of the duties in the
ports of the Gulf; the remainder OF the dividends to
be paid from the other national revenues if the du
ties thus set apart should prove insufficient. The
bondhoders We're, moreover, to be AT liberty to ap
point agents at the different Mexican ports to receive
the portion OF duties thus pledged. And the Next
can government undertook to provide for the usual
charges of shipping and landing, insurance and
freight. This arrangement wasacceded To by the bond
holders, and the bonds thecelpon issued which
are now known as the Mexican Three percent
Bonds. In the year 1853 the interest of hese bonds
was considerably in arrear. and Messrs. JeckeI,
Tore Co., merchants, resident at Mexico, there
upon offered to the Mexican government to trans.
init TO England bill OF exchange FOR 100000, or
$3.50 900, to complete payment Of the third dividend
upon terms which were agreed to by the govern
ment These terms were that the s50,0 900 should be
repaid by means OF the REMIT ances made to London
from and after the current month out of the reye-
nues set apart to meet the claims Of the bondhold.
ers That for all expenses of interest on that loan
as well as OF commission and poundage, the said
Messrs. Jecker Co. were to be at libert to ship
a certain amount OF dollars, duty free, which
privilege they accordingly ayailed themselves
OF. The bill for 5000 was transmitted TO
Messrs. Barring, and paid by the latter TO the
mttee OF bondholdsrs. The agents OF the bond
holders in the different Mexican ports had RENTED
to Mesers Barring, OFT OF the revenues set apart By
the Mexican government not only the sum of ESQ.,
900 which Messrs Barring had paid on account OF
MeSsrs. Jecker, but further sum OF $5T 500, and
bill of lading TOR 81 CG0 These sums it was alleged
had been transmitted by mistake anG the commit
tee Of the bondhoders applied 10 have the am )nnt
paid over to their account but the Messrs. Barring
stated that they had received orders hold the re-
mittances received from The various agents at the
Mexican ports at thu order Of Messrs. Jecker &
Co. until further Instructions, and that an official
letter had been transmitted TO Colonel Facio, the
agent of the Mexican government in England not
to apply for payment of this sum- inasmlch as by
the liquidation which Messrs. Jeuker had made with
the Mexican government, the balance in the hands
OF Messrs. Barring applicable to other require
ments satisfied by them Upon receiving this in.
formation, the plaintiff filed the present hi II on be-
half OF himself and all the other bondholders
against Messrs. Barring Messrs. decker & Co., Col.
Facio, and Santa Anna, the President of the Next
can republic, ard applied for the present Injunction
TO restrain Messrs. Barring from parting with the
fund, except for the purpose of liguidating the
claims of the Mexican boniholders.
II stated that the Mexican mail was already
overdue and hourly expected; and il was, there
FORE necessary, that the order should be made be-
fore Messrs. Barring received directions to deal with
the fund.
His Honor granted the injunction.