New-York tribune., 1922-06-14
Huerta Thinks
Mexican Debt
Solution Near
Statement of Republics FL
nancial Agency Says Con-
ference Has Practically
Reached Its Final Stage
S75O,OOO,OOO Involved
Lamont Asserts, However,
There Are Still Important
Matters to Come Up

First definite iniimation that the con
ferences between the international
committee Of bankers on Mexico and
the Mexican Financial Minister, Adolfo
dc Ia Huerta, were approaching solu-
ton Of the debt problem came late yes
terday afternoon ia statements issued
by Thomas ". Lamont. chairman ofthe
committee, and the Mexican financial
agency in New York. Recognition Of
distinct progress was the keynote OF
both statements, that from Mexican
sources being slightly more optimistic
in lis declaration that, conditional upon
no new difficulties arising, the settle
uent might be regarded AZ definite.
The formal pronouncements' marx
ing virtually the fret break m the
silence that has been maintained by the
negotiators. were issued following the
second plenary session Of me con
ference At this meeting the snb-com-
r.i'.ce which has been discussing tari-
ou. phases Of ne situation with Senor
de Ia Huerta since tho opening session
on June 2 submitted its report and u
been reached on sufficient number OF
points TO warrant A preliminary draft
% settlement. An attempt will be made
within the next day or two 10 adjust
questions upon which the bankers and
Senior de Ia Huerta are al variance and
thus facilitate the final agreement
The statement issued by the Mexican
financial agency, hrst IN time Of issu-
nnce, read as follows:
The conference between the inter
national committee OF bankers and the
Mexican Secretary Of Finance have
practically reached their final stage.
A. the present moment there is being
drawn up the draft Of the agreement.
which covers al points discussed and
settled up TO the present. When this is
completed the draft Of the agreement
Will be discussed. and = no new diff
,uitics come Up the agreements reached
with the representatives, OF the cred
it0rs OF Mexico, presided over By
Thomas " Lamont, may be considered
as definite.
The agreements arrived ~ will
naturally be subject TO the ratification
O. President Oregon
The statement issued by Mr.. Lamont
for the committee read:
"Conforences carried on for the last
week between Finance Minister de Ia
Eacrta and the international commit
zee o. bankers on Mexico have reached
point where the Finance Minister
and the committee have decided 10 re-
ducc 10 writing the points that have
been discussed. There arc. however.
still certain important matters TO be
arranged. and examination o. these
will be made in conference between
the minister and the committee to-day
or Tomorrow
Sentiment Of both parties TO the
negotiations indicated that the Mcxi-
can debt question is nearer a solution
than az any time since the default in
1914 The total involved is approx
rnatcly S750.OOO, 900, including interest
and amortization in arrears. Of which
sjl7 100000 represents Mexican gov
crnmcnt external loans and guaranteed
and other railroad loans. and the bal
ancc internal MeXican issues, the bulk
OF which. however. are held outside OF
Mexico. 4 large proportion OF the
aggregate is held in the United States.
but sccurities nrc also distributed in
volume in England France. Germany,
Belgium Holland and Switzerland.
Agreement between the bankers and
Senior de Ia Huerta will be IN itself
only a preliminary 90 the settlement.
u will have 20 be approved by the
Obrcgon administration for Mexico
and By the security holders. The pro-
cedure 90 be- followed by the bankers
viii be 90 call for deposit OF securi-
'les under tho plan as evidence Of its
acceptance by the holders.
No details as 20 the basis Of tho
pending agreement are yet available.
but 10 is known that u Will include
fniriy comprehensive readjustment OF
the entire scheme of Mexican govern
mont and railroad finance. An effort is
being made 90 adhere as closely IS pos
sible 90 the issues as originally con
stitutcd rather than 20 effect q consoli-
dation and rcfurding Of tho debt. Pro-
vision is 30 be made for the past-due
interest and amortization, but 90 what
extent this Will involve settlement ~
cash or securities has not been dis
closed. 40 new money will be sought
hy Mexico in connection with the set
tiemont. although a loan IS believed 60
be probable after Mexican credit has
been re-eNablished by the adjustments
70 be made and the ObrcCon admins
tration. by virtue Of the -eftlement and