Show 1 NICAN WILL PAI ITS gitil HONOS settlement to be made wh ch s satis factory to both debtor and cred igors bonds run for forty years washington the settlement of the debts of the dominican republic is rapidly nearing a completion which Is regarded as satisfactory to both debtor and creditors and which re fleets favorably on the agents of the united states government who have been instrumental in ill carrying out the basis of settlement the recent finan cial disturbance Is given as the cause tor for the abandonment of the plan first agreed upon whereby a new york banking firm was to purchase the bonds of the republic in a sufficient amount to satisfy the creditors in place of this plan the cred tora tors themselves have now agreed to take tako these bonds as payment of 80 per cent of the claims while the remaining 20 per cent Is to be paid in cash from the which has been acciA accumulate mulat ed being 55 per cent of the customs receipts of the republic and now on deposit in new I 1 lork ork besides this judgment the creditors have consented to a reduction of their claims to an amount approximating 50 per cent this reduces the total in debt edness from to 17 the creditors are to take the bonds at 98 the bonds are to bear interest at alithe the rate of 6 5 per cent and run for forty years the government has reserved the right to redeem them at the end of ten years by paying tor for them the agreement will lessen to ome come ex tent the present heavy drain on the revenues of the republic inasmuch as it Is provided that at af er the settlement has been made bulf a month shall be applied to the interest of the bonds and the sinking funds tor for their redemption the interest will amount to 1 a year which will leave annually to be applied toward redemption of the bonds |