Letter from Lewis H. Haslewood; 1865

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Letter from Lewis H. Haslewood; 1865

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People

Haslewood, Lewis H.

Events

Political Office--Appointment to office

Businesses

Founder's Court (London, England)

Occupations

Mayors

Places

Argentina--Buenos Aires Chile England--London Peru

Page 1

UNITED STATES.

STATES AND CORPORATIONS ARREARS COMMITTEE

Founder's Court, Lothbury
London

Sir,

This Committee of which I have the honor to be the Chairman was appointed at a Public Meeting of the Holders of Bonds Stocks and Shares, issued in the United States by any State or Corporation on which the dividends are now in arrear.

That you may have some guide of the views entertained on this side of the Atlantic, I beg to inform you that the nearer your proposition ap-proach to the following suggestions, the greater will be the inclination of the Committee to support it.

I That the whole of the present arrears together with the dividends, which shall become due previous to the first of July 1867 shall be funded into a stock, carrying the same rate of interest as the Securities themselves now carry, and that the first dividend on the aggregate debt, will be payable on the

To the President
or Mayor
or Head of any Corporation
or City

Page 2

the first of July 1867.—The dividends on the New Bonds to be payable in London at the fixed exchange of four shillings Sterling to the Dollar.

II That a sinking fund of 2 per Cent shall be created, which being accumulative will pay off the principal of these new Bonds in 26 years.

Heretofore in all similar cases as with Peru, Chili, Buenos Ayres &c. the Bond holders have always agreed to accept any proposition made for the settle-ment of overdue claims provided that it has been examined by the Committee, representing the Bond-holders, and has been approved and sanctioned by them.

The greater the amount of Statistics and other information you forward to me, the greater will be my facilities in comprehending your position, and thereby obtaining the acquiescence of the Bondholders.—It would be advisable to send also one copy of all the printed papers which you can supply relative to your Corporation.

I send herewith Copy of the Money Market Review which contains the report of the Meeting, and you will observe that the Bondholders were anxious that the new Bonds to be given for the arrears, should be issued through this Committee,

Page 3

the object being to save you expense and remove difficulties.

In conclusion it is necessary to observe that the object of this Committee being to benefit all parties, we shall be most happy to meet your views in any manner which may be conducive alike to your interest and that of the Bondholders.

I beg to subscribe myself
Sir,
Your most obedient Servant,

Lewis H. Haslewood