§ 4. Mr. HERBERT WILLIAMS
asked the Secretary of State for Foreign Affairs whether his attention has been drawn to the fact that the Mexican Government has deposited sums for the payment of interest on Mexican Government bonds with bankers in New York, but no payments have been made to British bondholders; and if he will state what steps he proposes to take to assist British bondholders in the matter?
§ The SECRETARY of STATE for FOREIGN AFFAIRS (Sir John Simon)
The Bankers' International Committee on Mexico, under their agreements with the Mexican Government of 1922 and 1925, received sums amounting with accrued interest to approximately 45 million 912 dollars, of which approximately 5 million dollars were retained for expenses. Distributions totalling some 33 million dollars have been made, of which the details were duly announced at the time, and British bondholders received payment on exactly the same terms as holders of other interested nationalities. The disposition of the balance, amounting to some 7 million dollars, has, I understand, been deferred pending the outcome of actions in the New York courts, to decide certain comflicting claims, which are still proceeding. In these circumstances I do not consider that any useful purpose would at this stage be served by intervention on behalf of the British bondholders interested in the distribution of this surplus.