Show ITAliAN DEBT I SETTlEMENT IS FINAllY MADE Agreement Will Will Be BeI I Signed Saturday Over i Two Billions Involved FULL FA PAYMENT t I OF PRINCIPAL AL ALI I Annual Instalments Will WillBe WillBe Be for First Five Years of the Pact WASHINGTON Nov 12 United L Press Press Agreement for tor funding the I Italian debt to the United States I Iwas was reached between the Italian L and American n debt funding commissions commissions com corn missions today Announcement was made at the the treasury department by Undersecretary Undersecretary of ot the Treasury Winston secretary of ot the American commis commis- sion I A A. formal statement o of terms term's of 01 the settlement nt will be issued by the i commissions at 4 p. p m. m The agreement will be signed Saturday Sat The total of the debt debi was of ot which 1647 I was the principal and th the I J 1 remainder accrued interest The settlement provides for full I repayment of the principal accordIng according accord accord- ing to informed quarters with the I accrued interest down from L 5 6 per cent to o 4 4 1 and 3 per cent Annu Annual l payments on account of ot principal will be for the first five years it is understood thereafter rising ising gradually For the I first five ve years there will be a complete complete com corn moratorium interest it Is said I WASHINGTON Nov 12 AP Al'- Al' P- P Chairman Mellon of ot th the th-Amerian th L Smoot of ot Utah a member oJ of thE commission which is considering th the Italian debt conferred with President Coolidge today after which t they tey ey announced a a. a written statement would be Issued later atthe at atthe the treasury ls ROOm BOME Nov 12 By As Associated oc Press Press Premier Mussolini l received I the he first news of of- the Amer Halo ican debt agreement from the Associated Associated Asso Asso- elated Press this afternoon i. When I told over ovel ibe telephone that an accord ac cord had been reached the premier said I X 1 hope it Is true because it will wil I mean great things for both tooth coun coun- tries He asked to be excused from further further fur fur- ther thor comment until t the e terms of ot the I settlement nt were received |