New-York tribune., 1899-07-13
MEXICAN LOAN SUCCESSFUL.

The new Mexican loan. subscriptions FOR wnicn
were opened yesterday, promises to be successtui
far beyond the expectations Of the bankers VINO
have entered into an agreement with the Mexican
Government TO float the bonds In this country ana
IN Europe OF the total issue only sS0O.OU is re-
served for allotment in this country and Holland
and at the close OF business yesterday total SUD
scriptions for this allotment amounted to up"ard
OF 800 10000 The bankers interested In the loan IN
addition to J. p Morgan & Co.. represent the pest
houses in the Street At the office of Harvey FISK
Sons It said yesterday that SUBSCRIPTIONS io'
the loan being received In large amounts iro'i
all over the country and that the nrm "ouio no'
be able TO fll one-quarter Of the orders COMING IL"
II is interesting TO note that the bonds are Sc
cured by So per cent OF the import and export du-
ties of Mexico and that the terms made by the
bankers with the Government are unusually favor-
able TO the buyers Of the bonds. As an Indication
OF the amount OF capital seeking INVESTMENT III ''s
countrv and az a reflection OF the high credit and
stable business conditions in Mexico. the response
70 the Offering OF bonds is more than noteworthy.
The fact that the bonds are payable interest anu
principal in gold. and are issued at S''2 per cen'
~ their mar value with accrued interest from July
l. at the rate OF per cent. makes the issue very
attractive at a time when the greater numper OF
high-class bonds yielding at current market
quotations less than per cent The Mexican ne
public like the United States, is enjoying an era Oh
industrial progress and prosperity, and according
% tho oninjon Of Mexican and local bankers Mex
leo will soon be firmly established upon sold
basis
The detailed announcement regarding the ioah ls
given I'm the following statement:
J p Morgan Co. announce that IN conhec tion u
with J. s. Morgan x Co., of London 3 blelcnfo19eI' 1
the Deutsche Bank and the Dresdner Bank, OF oer-
lin and the National Bank OF Mexico tney nav
entered into a contract with the Unlted states, vi
Mexico for the conversion of the existing forelgn
loans Of the United States OF Mexico. VIZ, o pei
cent loans Of 1888 1890 and 1893. and the per ceIl
Tehuantepec loan heretofore issued In LONDON anq
Berlin into a . per cent consolidated external goId
loan TO be retired within forty-ive years at par
by semi-a annual drawings which may De @ ncI 90
after 1909 the first to take place In June ISp
or by purchase in the market, II TINS can ne Haue
under par Principal and interest OF the Donds are
dam Berlin or New-York in the last city at the
rate of "a s. per pound sterling The oonds are 10 e
issued in denominations of from tZO 10 tlWo AZ tle
ontion of the subscriber. The bonds are secured py
mort and export duties of the United states OF
Mexico such duties having amounted as olncIaIS
stated by the financial agent of the Mexican Gov
ernment in the year 1897 9S to s225S2 8I silver OF
which 81 per cent would amount TO over sliUgvp
silver and in 1895 80 eleven months only) Sli,lW
076 OF which 81 per would amount to over Slo,-
100000 The annual interest and sinking fund re-
ourement for the entire external deDt OF Mexico
as consolidated by the issue OF bonds Is ABOUT
900 gold or at present exchange, about Si5'-
f22 200 Oo OF which f5 100000 is reserved for aot-
ment in this country and in Holland The issue In
England and Germany at the present time VIII De
limited in favor of holders of the existing ponds
tions will be made In due time for the listing of the
bonds on the New-York Stock Exchange. as wen
as on the Stock Exchanges OF London, Berlin
Frankfort and Amsterdam.