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Show THE PHILIPPINE miAKS. Government Making Arrangements for the Purchase Purch-ase of the Lands at a Cost of $7,239,784. Washington. Dee. 2Z. The settlement of th long controversy over the friars' land) in the Philippines Phil-ippines is nearmg the end. A cablegram was received re-ceived at the war department today from Governor Taft. saving that an agreement had been reached to p.oy in bonds the sum of $7.2.73-i for 091,000 acres, involved in the purchase. A conference between Secrerary Root and Secretary Sec-retary Shaw folloowed at tin White House, and it was decided to-issue $7,000,000 of 4 per cent bonds, redeemable after ten and within thirty years, to' liquidate the payment. This is an average of $15.51 an acre for the land thus purchased. The land.-f were not bought in a lump, but were appraised, and. he sums named represent the totals. All the lands are regarded as very valuable as agricultural properties, prop-erties, beinm ainly sugar, coffee and hemp producers. produc-ers. The lands will be offered for sale early in January. The Philippine government will sell the landi to the natives for a reasonable price, giving the oc- 4 . i cuvying tenants the preference and allowing the I -payments to extend over a convenient period of j years. Six months will be allowed to resurvey the lands, examine and verify titles, and make all necessary ne-cessary arrangements for the transfer to the government. gov-ernment. The bonds will be pr.hl to the pope,' and. i not to the orders in the Pihilppines. The fund ' will, however, remain in the islands to be used in establishing churches, schools and charitable institutions in-stitutions under the auspices ol the church. Some details concerning the issue of the bond.? yet have to be worked out, but. no doubt is expressed ex-pressed that a ready market for them will be found in this country. During the past seven month an aggregate of $0.;00.000 of 4 per cent Philippine bonds have been issued and floated in the United States in lots of $0,000,000 each More than half these bonds are now on deposit with the govern-! govern-! nent as security for public money. The bonds pre-I pre-I viously issued were sold on terms regarded as fa-j fa-j vorabie to the government, each lot of $:'5 .000.000 commanding a figure above pir. It is believed that the forthcoming issue also will bring a good price. Agreement Said to Be Signed. p Manila. Dec. 20. Tho agreement fer the sale of I ihe friars' lands has been signed, to tnke effect in j six 'months, the time allowed lor surveys itnd exam- j ination of titles. i The bureau organized to administer the affair of these lands will dispose of them when possible j to the present tenants on long terms of payments. I Three-fourths of this land is included within the I populated districts, which makes it a difficult prop- j osition for the administration's bureau. |