Report of the Council of the Corporation of Foreign Bondholders, volume 33
Report of the Council of the Corporation of Foreign Bondholders, volume 33
Corporation of Foreign Bondholders (Great Britain)
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j£8,940,ooo Digitized by VjOOQIC 30S [Portugal. Brought forward j£8,940,ooo 1 84 1.— Interest on the External Debt having been in arrearforjj years— although it is stated that the Internal Bondholders received their interest in full during a part of this period — a Decree was promulgated ordering a conversion of the then outstanding Debt as above plus arrears, say ... 1,460,000 Total ;£io,4oo,ooo For the purposes of the Conversion this was taken as ;£ 1 0,000.000, which was to bear interest as ...follows : — 2^ per cent, for 4 years from July, 1841 3 percent. „ „ 1845 4 percent. „ „ 1849 5 percent. „ „ 1853 And afterwards 6 per cent, until the arrears were paid off. 1845. — A new Scheme was brought forward by the Government for the conversion of the whole Debt into a Four per Cent. Stock. Holders of ^£6,500,000 Bonds accepted this conver- sion, while ;£3, 500,000 were retained in their original form, and upon these latter default was made in 1850 and 185 1. 1852 to 1855.
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