Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1911-06-17
MEXICO ON SOUND
FINANCIAL
BASIS
DECLARED C0UNTRY'S
CREDIT IS UNIMPAIRED
Regular Dividend of 4 Per Cent
On National Railroads Pre-
ferred Stock VIII Be Declared
Despite Heavy Loss By War.
IBy Morning Journal Special Leased wIrel

[By Morning Journal Special Leased wIrel
Mexico City, June 16.-Notwith-
standing the losses incurred by the
National Railways of Mexico as the
result Of the revolution, dividend of
per cent on preferred stock will be
paid as usual, said Ernesto Madero.
the new minister of finance, today,
while discussing the story that the
government proposed TO sell its stock
in that company. The minister denied
the story.
Ut is true, he said, the railroads
have suffered BY the paralysis Of traf-
fic and by the destruction of their
branches, ana during May alone the
loss IN earnings was more than 2,S00,-
O00 pesos. when compared with MAY
last year, and yet the financial CON
dhion is such that there will be no
difficulty in meeting the interest on
bonds.''
Regarding the depreciation of Mex
lean bonds ON foreign markets, Mr..
Madcro declared quotations have been
opinion that they would speedily re-
iume their position in the list.
The reserve funds of the govern
ment,' said he, are such that the
interest and amortization of the ma
tional debt can be maintained for
many years, Without mentioning an
the reserve funds, there is on de-
post in the Bank OF England one
million pounds sterling which could be
used any minute for the payment of
interest
- believe soon there will be ex-
perienced revival of business that
will be reflected 5t the end of the
fiscal year in the statement of the ma
tional treasury
one story caused the new minister
of finance to betray some slight in
d snatiou. This is ,hat the new gov
ernment proposes to return to the
free coinage Of silver. He emphatcal-
ly denied this
one drain which the treasury is
now sustaining is the payment OF
wages to former revolutionary troops
Among the men who were leaders
Of the revolution in the south" said
Mr.. Madero. there are many who
would not accept single cent,
and believe there are many others
who led insutrecto troops who will
display the same attitude"
\ plan to relieve the embarrassing
situation in Chihuahua will be put
into effect Immediately. orders have
been issued by the war department
to General Cordillo Escuadero with
thousand men to leave Chihuahua on
Sunday for El Paso. enroute to Low
ef California. incidentally this will
also relieve a certain appearance of
lmpatience on the part Of the United
states authorities relative to condi-
tions in that part of the republic.
The delay is said to have been due
IN some degree to feeling of pride
on the part of the war department
OFFICIALS, to the extent that rhey
wished to clothe their men in new uni
forms before starting them.
Now, however. everything is sar
To be ready for the campaign.
Another body of federals under the
command of General Luque, the hero
ol Oiinaea, has been ordered to So
nora to assist in pacifying the Yaqui
Indians.
In connection with the departure
9i troops for Lower California, high
government official said today that
10 Go t1
onization of the territory on a large
scale. Thousands of Mexican families
are TO be transpIanted and given every
ald toward settling and improving the
peninsula.