Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-12-20
Request Albuquerque and RIOS
well to Advance Sum in
Form Of Loan Money to be
Used to Legalize Bond Issue
in France.
MONEY TO BE REFUNDED
WITHIN SIXTY DAYS
Believed Loan Would be Adj
vanced With Guarantee that
it Would Result in COnstruo-
ton Of Railroad.

Herbert Green. Of Green and com
pany, ChicaBo, promoter OF the syn
dictate which has arranged for the
placing OK si2. 00o. 600 81 bonds OF the
Gulf. New Mexico and Pacific Rail-
way company In France. asks the
people OF New Mexico In those com
munitlcs 90 be reached by the pro-
posed railroad 20 advance the sum oil
fi25. 00O. IN the form OF n loan; 60 be
repaid within sixty DAYS. or upon the
payment 81 the ilrst instnllment of the
proceeds OF the French loan; the
money advanced to be used IN pay
ment Of the various taxes and costs
necessary 10 legalize the bond issue In
France and enable the syndicate to|
offer the bonds IN the French market.
This IN effect was the proposition
laid before the board OF directors OF
tho Commercial club and newspaper
men b. Mr.. Green last night during
two lengthy conferences az his rooms
Ia the Alyarado hotel. In the course Of
which he presented in detail the
status Of his negotiations with the
syndicate Of French bankers who
have undertaken TO float the bonds
and whose contract Co do 80 he ox-
hibited.
The $4,000 asked Of New Mexico
In effect Is asked of the communities
OF Albuquerque and Roswell which
are the only ones along the proposed
line Ia a position 20 make such an
advance. Judge Granville A. Rich
ardsOn OF Roswell was here yester-
day. as the representative of the Ros-
well Commercial club and the prop
A.
He left last night for Roswell TO las
the matter before the Roswell bust
ness men. making the statement be-
fore his departure that with. the furn-
ishing 81 suitable guarantees that the
loan would be Thoroughly secured,
and that Il would result In the con
struction Of the railroad, there was
little doubt but that Il swell would
Doe willing 20 do its shrac.
This. practically IL the attitude
taken by considerable number of
business mon IN Albuquerque who
were approached upon the subject OF
Mr. Green's request this morning. and
who are practically unanimous ln
the opinion that IN the event tho pro-
posed loan Is properly secured by the
promoters. ana final evidence Is fur
nished that this loan will bring about
the construction Of tho road that Al
buquerque win be able 20 provide lis
portion OF the advance.
The loan OF $4,000. according Co
Mr. Green, Is for the purpose Of meet
ing the various taxes and costs as
sossod by the French government. in
order TO iegalizc loan Of the kind
and enable the syndicate financing o.
"a place the bonds on the FreAch
market These taxes include the
stamp duty, the transfer duty, the
Income duty, a tax FOR the appoint
ment Of a solvent French representa-
tive, cost OF publication IN the journal
official, printing Of the bonds and
other minor expenses. all OF which
must be paid 90 the government be-
fore tho bonds can be issued or money
advanced on them.
Yesterday evening MIR. Green out
lined 90 the directors of the CONNER
cial club and later 60 the newspaper
mon the history OF his connection
with the promotion his negotiations
In France, leading up TO a contract a
copy az which ne presented. with
French banking house heading tho
syndicate which has undertaken to
float he bonds, and stating that only
the lo3n asked was necessary 10 com
plete the transaction In France and