Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1922-05-31
DE LA HUERTA READY
TO take UP FINANCES
WITH u. s. F|NANC|ERS
Me xic0n Finance Minister And
Americans to Meet With Re-
turn of Thomas Lamont


NEW ioI;k. \. J.. May II Settle
ncnt az McXico's finanrial problems.
which has been held in allowance since
1911 when that country ceased the pay
ncnt If interest on most of its internal
and external loans. IL expected a. result
from the conference To hc held here be-
tween Ad'lfo dc Ia iiuerta, Mexican
Secretary of the Treasury. and dflr-
cation of the Inter- aiional Committee
of HankerS on Mexico headed by Thorn
IS w Lamont. who arrived from Eur
opc today.
While exact statistics are net obtain
able. Mexico'S national debt is appruxI-
matcly 500 nuu. .Gnn net mrluding claims
Tor property damages against the gov
'rnment and d"prcciaiion of l.ationalized
railroad property.
The direct external debt. rs compiler
hy the international committee. amounts
20 $2I9. la1 .SlS.ln: the direct interna.
debt - S9u. .!'.i> 2.lS.l:.. the bonds guar
antecd hy the Mexican government tex.
elusive of railway guarantrcsi "a SI3,-
Hei. ..i:;i.SS AID the bonded indebtedness
cf the National Railways ~ Mcxicn ~
500 II l1S.i0. making a total of SIio:;-
2>i.S2GI1 These figures include inter-
est approNimated To- December 81. 1921.
transactions in Mexican government
securities have been very H-tivr since
the dcbt rcfunding negotiations We're re-
sumcd. In the first five months of this
year. NcXitan government rs range.
from - 10 30 II and the 4's from -
3-i 10 g..
r.. t.rfl - tt.fun
was announced that Senor de In Ilucria
WAS coming to New York, the price of
the Is Jumped points GO -. total
transactions for that week beitg sG5l.-
600 At the same time the Us rose from.
~ "a - with total sales of Sl.u2nnuo.
Ia 1911 when interest pay ments were
stopped. Mexican government hs solo
bow as ~ in April and rs high aS s. IN
June while the r. varied only a few
nnints. the high mark being GS. In 1920
tho lS dropped ~ - "a i'll March ana
rose to ~ in November. total trans
;,tions for the wear being ST.lln0nn.
The I'S in 1920 went Down to 3b in
Nav and IN to - II in November. to-
tal sales being Sl..j;Jt:.o00.
I'm 1921 the rs were quoted NJ 10 ~
January and - II in September. total
sales being SlI.nfl eco. Last year the
I's were lowu ~ - III January and ~
~ ~ 81 in September. total sales be-
ing SI.IlT.Oun
Local bankers estimate that well over
half or these McXiran government h"nns
anl notes are held in Europe. whe.e
most of the public offerings took place
'Tha uar runte IN almost imDoSSiblc tu
keep record ~ transactions III ~ '''
securities. but large percentage oi
iem were held originally ~ Germany.
II is known. however that large blocks
nf these Gcrmnn-hrld securities w"r-
sold IN tn London Paris and \"w York
markets IN the few weeks preceding IN
outbreak of the war.
II IL reported alSot hat Allied ann
neutral investors obtained possession of
others duringthe war despite the fact
tLot trading with the enemy was for
hidlcn IN I'll Allied CON tries. R"nre-
scniaiivcS ~ German intcr"st~h here
frankly stated that it was imp"sSIhl" I"
,stimatc the present Mexican holdings
of German investors.
Failure of Tie McNicar government Z"
meet IT'S obligations followed soon after
the assassination W President Francisco
Nadcro IN 1919. When General Wet,
riono Uunrta became President. the
United States did not recognize his gov
crnmcnt l.d no payments Of interest 2"
outstanding obligations were made out
side of Mexico during his regime. II"
(Cnntinucd on Page Twoi