Only one important group of creditors, the Vicini heirs, still refuses
to assent to the plan and accept the amount set aside for them.
Upon payment to the San Domingo Improvement Company, the Company
turned over the Central Dominican Railway, from Puerto Plata to
Santiago, to the Dominican government. The right of the
Samana-Santiago Railroad to receive a percentage of the import duties
collected at the port of Sanchez was redeemed by the delivery of
$195,000 in bonds at par, an excellent bargain, made all the better by
the circumstance that the railroad invested the proceeds of these
bonds in the extension of its line in the interior. The restrictive
concession and heavy damage claim of the Clyde Steamship Line were
also cancelled, and the onerous wharf and harbor concessions at the
various ports of the Republic were among the other important
concessions acquired by the government by means of the bond issue.
Thus debts and claims aggregating nearly $40,000,000 have been and
will be discharged for about $17,000,000. The surplus remaining from
the bond issue and the modus vivendi collections must, under the
agreements made, be devoted to public improvements approved by the
United States government: a portion has been so expended, and a fund
of over $3,000,000 still remains available.
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