"UNCLE SAM" AS MONEY LENDER.
LOSSES IN SOUTH AMERICA
' (From Ojir Own Correspondent.)
NEW YORK, September 22,
Of the seven' South American Republics which'thus far have- obtained financial accommodations in the American > market, three are in complete default, . Bolivia, Chile and Peru. •
Brazil is in default with respect to sinking fund payment.on most of the Federal debt, while certain States and" cities' are also\in Argentina and Colombia .are the ones, which have, thus far, met all payments promptly and punctually. Dollar loans.sold.in behalf,of the-above Republics aggregate, at par of face value of bonds, $1,551,582,500, of which $1,431,260,020 remain outstanding, indicating, that $120,322,480' has been paid off or ■redeemed;' equivalent to about 8 per cent of the amount issued. " ';"■:■ '.;■ . ."•■•
-On the basis.of prevailing quotations, the above- bonds have an aggregate market value of. $533,600,705,; representing a shrinkage,, as compared with the amount, out 4 standing,, of. close to $900,000,000. Of the total" amount outstanding, $470,649,520 is in default. '•' ""'•'• '." .
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Bibliographic details
Auckland Star, Volume LXII, Issue 253, 26 October 1931, Page 4
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157"UNCLE SAM" AS MONEY LENDER. Auckland Star, Volume LXII, Issue 253, 26 October 1931, Page 4
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