New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-22
MERCANTILE EXPEDIENTS.
A LOAN OF FIVE MILLIONS.

THE SANTANA BAY COMPANY NEGOTIATE WITH EN-
GiIsn CAPITALISTS FOR $1,000 0OO-THE REpUpI-
ArED "HAWTMoUNr BoSDs" To THE VALUE OF
SS,75O.0oo To BE GUinASTEED-rHE PAYMENT
OF THE LEASE MOI DEMANDED AT PRESENT.
From private cable dispatch which has
been received in this city 1t has been ascertsned that
the SANTANA Bay Company have negotiated in London
loan for S5oOooo0, and part of the negotiation the
Company agree to take up the Hartmount bonds which
had been repudsted by the Bsez Government. II has
been ascertsnod that of the three Commission
appointed by the SANTANA Bay Company to negotiate
the s5oOO loans left England the l7th inst for this
country. In order TO complete the arrangements under
which the loan has been obtained 1t is further under
stood that the persons England who have advanced
the have agreed TO take exchange the stock
well "a the bonds OF the Bay Company. thereby
giving them additional interest in the OF the
enterprise
The dartmouth bonds the responsibility Of which the
SANTANA Bay Company reported TO have assumed.
were negotiated for the Dominican Government 10 1869
by Col. dartmouth and amounted To f15O00O OF this
sum the Dominican Government only received about
$1,000 the remainder Of the money disappearing in
unaccountable manner. The Baeg Government
subsequently repudiated these bonds, and those who
had advanced their money found their confidence
abused. The Commissioners for the SANTANA Bay Com
pany's loan found that while the HlrtmOun bonds
NAMED in unsettled condition all attempts any
gotlton for loan santo Domingo property. any
enterprise connected with santo Domingo. would result
In failure. these very bonds would form nsur-
mOuntable obstruction. As the SANTANA Bay Company
had direc; well indirect interest in the stability
and good credit of the Government under which they
held their lease, 1t was deemed good policy to remove
the obstruction speedily possible, aud in tue most
advantageous manner This was concluded to
be by the absorption Of the repudated bonds
Tor she payment OF which the following securi-
tics had been given First all revenues derived
by the Dominican Government from customs; secondly.
tho realized from the railroads to be con
structed with the money raised on the HaTtmount
bonds thirdly the revenues Ia be derived from the sale
OF the uano deposits the Island of Alta Vea, belong
ing 20 the Republic fourth. any acoruing
To the Dominican Government from the mines OF
Banana. As yet there is evidence OF any mineral
wealth existing the peninsula proper of Samana It's
value being principally Of agricultural nature. All
che OF value il the interior of the country
aud those which the Company have charge are
situated far from the peninsula stin rs the SANTANA
Bay Company possess such mines it was thought that
fact might lead to serious complications unless the
Hsrmount bonds removed and doubtless this
state OF affairs entered largely into the calculations OF
those having in charge the negotiation of the loan The
further details Of the operation of the Commissioners
cannot be known until their arrival. The removal of
che Hartmouut bonds not only opens the London
naTket for the SANTANA Bay Companys loan. but also
restores credit OF the Dominican Government Civ
ing them a financial field which had formerly been
opment OF the country OF the objects which was set
forth the manifesto OF the late revolutionary but now
successful party in the Island of santo Domingo. One
of the charges against Baez in the manifesto issued at
Puerto Plata that he stopped the progress of the
country. Should The Gonzales Government prove true
their promises the opportunity has by this financial
settlement been offered and the road for negotiations
thrown thereby enabling foreign capital 20 be car
the country for the development OF its resources
The amount thus raised by the SANTANA Bay Company
only the HartmOunt distractions. but also
gives the Company large amount OF cash with which
carry ont their own operations.
reporter of THE TRIBBNE called yesterday afternoon
on Mr. Spofiord the VcePresident of the SANTANA Bay
Company order to ascertain the truth OF the
ported by cable Mr. SpoffOrG said that from the writ
adyoes he had received he had no doubt that the
report the successful regulation OF the loan true
still, would require the presence OF the Commits
sioners to confirm the dispatch he would not Ike to
state anything positive with regard 10 IT, There were
many details be considered in large Transaction
and consequently he preferred not TO speak positively
reporter also called on Mr. Reed at the SANTANA Bay
Compauy's office; but that gentleman declined TO give
think he was authorized so 10 do He had however no
doubt that the loan had been Negotiated but as 10 the
details Of the TRANSACTION he was al present unadvsed
TIE SANTANA BAY COMPANYs LEASE.
The recent OF the Bacz Government in Santo
Domingo ard the occupation of the capital by the
troops of the Provisional Governments Of which Gen.
Gonzales the head has led TO various rumors relative
the plan of carrying out the treaty between the
SANTANA Bay Company and the Dominican Government.
II has stated that the SANTANA Bay Company intend
70 pay tho amount due. $4,000. monthly install
ment. of $4,000 each, instead OF delivering the whole
amount in In order to verify this report a
reporter OF THE TRIBUNE called yesterday afternoon on
Mr.. Reed, Acting Secretary Of the SANTANA Bay Com
psny. Mr.. Reed said he had never heard OF any such
proposition. The annuity was speChed III the treaty 10
be in advance the LIST day of January, and
be dd know OF any change having been proposed;
nothing of that character had come officially
his notice. The Tybee dd not carry down the money
on her trip, although ~ then due. This arose
from the fact that Senior &. :. Passallalgue, the
accredited special of the Provisional
Government, had presented the Company
official protest against payments being made 10
the Baez Government OF its agents. and In viz
tue OF this protest payment has been made senior
Passaa glue did ask'tha the money should be paid
tue Government he represented. did he show
evidence OF expectation that would be- until the
Government firmly ana cOnsttuOnally established
As the Company had received OIhcai notice OF the
establishment OF the Dominican Government, the
money has Of been withheld; but when the Off
cal notice received he (Mr Reed Of the opinion
that the full letter aud spirit Of tue treaty would be
carried out What the directors OF the Company may or
may have said among themselves ~ To the adyisa
bty OF holding back the money and paying 1t by in
stalments he could not tell he had been absent from
the during the past week bur he certain That
official action had been taken the subject nor had
he even heard sucn a course animated