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And whereas a part of such plan of settlement is the issue and sale of bonds of the Dominican Republic to the amount of $20,000,000 bearing five per cent interest payable in fifty years and redeemable after ten years at 102-1/2 and requiring payment of at least one per cent per annum for amortization, the proceeds of said bonds, together with such funds as are now deposited for the benefit of creditors from customs revenues of the Dominican Republic heretofore received, after payment of the expenses of such adjustment, to be applied first to the payment of said debts and claims as adjusted and second out of the balance remaining to the retirement and extinction of certain concessions and harbor monopolies which are a burden and hindrance to the commerce of the country and third the entire balance still remaining to the construction of certain railroads and bridges and other public improvements necessary to the industrial development of the country; And whereas the whole of said plan is conditioned and dependent upon the assistance of the United States in the collection of customs revenues of the Dominican Republic and the application thereof so far as necessary to the interest upon and the amortization and redemption of said bonds, and the Dominican Republic has requested the United States to give and the United States is willing to give such assistance: The Dominican Government, represented by its Minister of State for Foreign Relations, Emiliano Tejera, and its Minister of State for Finance and Commerce, Federico Velasquez H., and the United States Government, represented by Thomas C. Dawson, Minister Resident and Consul General of the United States to the Dominican Republic, have agreed: I. That the President of the United States shall appoint, a General Receiver of Dominican Customs, who, with such Assistant Receivers and other employees of the Receivership as shall be appointed by the President of the United States in his discretion, shall collect all the customs duties accruing at the several customs houses of the Dominican Republic until the payment or retirement of any and all bonds issued by the Dominican Government in accordance with the plan and under the limitations as to terms and amounts hereinbefore recited; and said General Receiver shall apply the sums so collected, as follows: First, to paying the expenses of the receivership; second, to the payment of interest upon said bonds; third, to the payment of the annual sums provided for amortization of said bonds including interest upon all bonds held in sinking fund; fourth, to the purchase and cancellation or the retirement and cancellation pursuant to the terms thereof of any of said bonds as may be directed by the Dominican Government; fifth, the remainder to be paid to the Dominican Government.
Let us agree that no government can guarantee the safety of any investment. Let us admit that digging gold can never be put on the same amortization basis with digging potatoes, for instance, because the soil remains for more potatoes, whereas the ore of a mine is exhausted and does not raise more ore.
After he actually has learned the theory of amortization, he will observe that ALMOST EVERY MINING STOCK LISTED IN PUBLIC PRINTS IS SELLING AT AN INFLATED VALUE. That is to say, even the best and most stable of mines are overrated, not to mention the purely wildcat ventures.
But to return to what we were talking about mortgage loans are generally able to, cover the building expenses, and with amortization the whole thing is unencumbered after some years have passed." "Who's to own it?" asked Pelle. He was chewing a piece of grass and putting his feet down deliberately like a farmer walking on ploughed land. "The cooperative company.
Slightly over half of this amount, or 800 million dollars, will be accessory to the simplified pay-as-you-go method of tax collection, and will be the result of overwithholding and over declaration of expected income. Most of the remainder will arise from loss and excess-profits credit carrybacks, recomputed amortization on war plants, and special relief from the excess profits tax.
On the basis of my estimate of $40,000,000,000 for the total liability, which is more likely to be criticized as being too low than as being too high, the amount of this balance will be $15,000,000,000. Assuming interest at 5 per cent, this will raise the annual payment to $2,150,000,000 without allowance for amortization. But even this is not all.
But to return to what we were talking about mortgage loans are generally able to, cover the building expenses, and with amortization the whole thing is unencumbered after some years have passed." "Who's to own it?" asked Pelle. He was chewing a piece of grass and putting his feet down deliberately like a farmer walking on ploughed land. "The cooperative company.
And then, gas motors are sold at high prices, as are gas generators, and this installation necessarily requires the addition of a large gasometer, scrubbers, etc. The wear of these apparatus is rapid, and if we take into account the interest and amortization of the capital engaged, we shall find that the use of steam is still more economical.
These bearer bonds carry interest at 2-1/2 per cent per annum from 1921 to 1925, and at 5 per cent plus 1 per cent for amortization thereafter. Assuming, therefore, that Germany is not able to provide any appreciable surplus towards Reparation before 1921, she will have to find a sum of $375,000,000 annually from 1921 to 1925, and $900,000,000 annually thereafter.
Perchance we might write and ask the mining promoter what, in his belief, is the proper amortization charge in his particular mine. At which the average mining promoter would probably fall dead. * Vol. XXIII No.1 JULY 1910 OUT of the great world came a man to the wooing of Susanna Crane.
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