New-York tribune., 1921-02-06
Mexico Finance
Action Awaits
Harding Policy
r.r,oui Has No Formal In
vitation Yet to Visit Capt.
saI Across Border to- Act
in an Advisory Capacity
May Go Within s Months
rreueh Investors Already
Have Representatives
in Touch With Obregon

rsomss ". Lamont, of ], ?. Morgan
Z, has as yet received no formal
s..a,s.ieu from President Obregon to
,.,.;t Mexico TO advise the Mexican gov
lament in working out plans for. re-
h,sil;tating Mexican credit and
s,.nes Il was learned at the Morgan
secs Yesterday. Mr., Lamont, it was
,.a was away for brief rest and
yepjd not return until Monday. 1t was
.,is that be had sent word to his col
leagues that his only information rela-
i've to the invitation reported to have
bsen sent to him from Mexico had
,one from the newspapers.
Banks who should be in position to
trow asserted that it would be un~
Hksly for MI Lamont to accept any in
,isstion that might be received from
President 0bregon. since the United
s.ssss government has not yet recog-
s,zed the new government at Mexico
CITY. It was conceivable, however, it
wss said, that Mr.. Lamont might some
time in the course Of the next six
months so to Mexico, but that probably
wouid depend upon the action taken by
the United States government. Mr..
lsnou: had under consideration several
months ago & visit to Mexico to look
into the situation, but circumstances
having TO do with the overthrow of
the CarranZa regime are said to have
caused q change in the bankers plans.
Familiar With Affairs
As yice-chairman Of the American
group of the Committee of Interna-
tional Bankers on Mexican Affairs, or
ganized early in 1919 TO look after the
interests of all foreign holders of
Mexican securities, Mr.. Lamont has
besn in close touch with Mexican
financial matters and during the year
ias conferred with different represen-
tstiyes Of the Mexican government.
has been informally invited to go to
Mexico City to get close range view
Of affairs.
Steps toward active negotiations
#ith the new government a Mexico
City for the resumption of payments
on the interest and principal Of Mex
lean government securities held by
foreign nationals, especially American,
British, French and Dutch investors,
have been delayed pending the Har-
ding Inauguration. While the ma
thinery for handling the problem is
perfected in the Committee Of Inter
national Bankers on Mexican Affairs,
which has gathered a great mass of
statistics relative to foreign invest
ments in Mexico, no formal move has
been made here yet toward opening
the matter. Some foreign groups.
notably the French bankers, have sent
a representative TO Mexico City to dis
cuss finance.
Bonds Gain Strength
Foreign Investments in Mexico are
estimated at between S1,500,000,000 and
s20OO,0oO,000, Of which the American
share amounts approximately to $780,
100000
Last November Speyer & Co., acting
apart from the international banking
committee, sent a call for deposits Of
~ 'S9e'So Va ANF'NiI1il DOtlQSt dRRIHEEI-
ing approximately s65,00000O, as the
first step toward action for the pro-
tettion of the holders of these securi-
ties in all parts of the world. The
bankers have received heavy deposits
Of the bonds from England and France,
Il is understood. They have not made
known what their plan of procedure
Will be once all the deposits have been
made.
Mexican Government bonds and the
securities of American properties oper-
asing in Mexico responded with q dis
play Of marked strength yesterday to
me news from Mexico City. Dealings
N the Mexican Government 4s and 5s
o. :. the Stock Exchange aggregated $3.50
'V0, and the 5s advanced from 441s
70 40, while the 4s went from 32h
70 doA. National Railways OF Mexico
nrst preferred advanced 8 points to 10,
waiie the second preferred went to 6,
an advance of one point Mexican Pc
"0Ssunl stock closed one point higher.