DEBT SETTLEMENT.

Hawera Star, Volume XLV, 3 October 1925, Page 5

DEBT SETTLEMENT.

FRENCH NEGOTIATIONS. ARRANGEMENT WITH U.S.A. BY CABLE—PRESS iSSOCIATION—COPYRIGHT WASHINGTON, Oct. 1. A temporary arrangement covering a period of five years was reached at today’s French, debt conference. The French delegates sail from New York on Friday with the American proposal, which will enable them to continue the discussions for a permanent settlement at any time within the period. The agreement provides for annual payments of 40,000,000 dollars, which will be considered as full current interest on the total debt.

“The general situation has been discussed,” was the only official comment when the Debt Commission adjourned for luncheon on Wednesday, but it was indicated that the conversations between the United States and . France were moving rapidly, and had brought the negotiations nearer together than at any time since, they began. At the end of the afternoon session the American commission hurriedly met for a separate conference. At the afternoon session the French submitted a document embodying what was considered as their final proposal for a settlement, which was taken to White House for consideration. An answer will be given on Thursday. The offer i s understood to hold 100,000,000 dollars as the average annual payment, and increase the period for payments’ to 69 years.