MEXICO: Sling at Morrow

Fifteen major bond issues have been floated abroad since 1885 by the Mexican government and the Mexican National Railways (today an insolvent concern). Last week the grand total of these Mexican debts stood at $514,302,000 principal, plus $369,888,000 in accrued unpaid interest. Therefore in the cool Manhattan office of J. P. Morgan & Co. an agreement was signed by Senor Luis Montes De Oca, Mexican Finance Minister. By its terms Mexico's principal creditors (the International Committee of Bankers on Mexico, chairmanned by Thomas William Lamont) agree to accept a "very large"...

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