The sun., 1895-05-19
FINANCING SAN DOMINGO.
Smith Weed Back from His Yearly Trip
Country Doing Well-The New Railroad

Smith Weed Back from His Yearly Trip
Country Doing Wen-The New Railroad.
The Hon. Smith Weed. formerly Of Platts-
burGh, and Charles NJ Wells. President and
Vice. President OF tho San Domingo Improve
ment Company of New York. who with party
OF friends have been spending a fortnight in
the Dominican republic, arrived homo yester-
day on the Mallory line steamer San Marcos,
which they had chartered. The Improvement
Company was formed for tho reorganization of
the finances OF San Domingo. which it under
took something more than a year ago, when it
became the trustee for the holders Of the Gov
ernment bonds and undertook the collection Of
the country's revenues. 1t hands over to the
Government certain sum for running ex-
penses. looks after the payment of interest. and
provides for a sinking fund. The executive
officers make an annual visit of inspection to
the island and 1t is from this Mr. Weed and Mr..
Wells have Just returned. They find the de-
sirabe way to make the trip is to charter a boat
here and live aboard during the stay at the
island.
Mr.. Reed said last evening that San Domingo
had felt the hard times Of the last eighteen
months just as we had in this country. The
principal foreign interests of the island were In
the United States, where most of its sugar was
sent, and adverse conditions here were sure to
be reflected there. But the country is doing
very WE'LL" he said. THE revenues this year
have not been so large those of last year, but
they have been sufficient to pay the interest on
the bonds and to provide for the sinking fund.
The people for the most part are convinced of
tho advantages accruing to the country by
reason OF the financial reorganization. and all
are friendly to us. although owing to the neces-
sary hardships accompanying the period of hard
times and consequent upon the times u few still
question the good of the undertaking.
"The people are not in condition to begin new
enterprises under the circumstances, but new
Guilty set in. now plantations started two or
three years ago and just beginning to yield
new banana plantations for instance. have been
found to bn strong enough to live notwithstand-
shipped from San Domingo this year While
most OF the sugar comes to the United States,
most OF the other products. coffee. bananas, the
-" Most OF the business being done with the
United states. this country OF all foreign ma
ple are beginning to take more terest in out
side affairs. and conseqpently are better in
republic ,csraby well and
turbaIces. Cuba is too far off to affect them
Immediately.
started by them several years ago, but on which
little M W. wac done was taken up by our p company,
pany stands in the relation of contractors to
the Government. twill CONSTRUCT and operate
the road, but the ownership will vest In the
Government This road is to connect the south
coast with the chief city of the centre of the
% rom eFfT ai es 10 10
operation. The work is In charge of Edward
Hall, the chief engineer. and we expect it to be
completed by Jan. next. The labor is prlnci-
pally native. Mr.. Hall was with me for several
Years in the Cnateauguay country. Three years
ago he was member OF tho New York Legis-
lature from Clinton county.