No. 117.
Mr. Roberts to Mr. Bayard.

No. 100.]

Sir: Chili is about to convert her foreign debt, amounting to $30,000,000 into 4½ per cent. interest-bearing bonds, which she has negotiated with Rothschilds of London at 96 net.

By this conversion Chili will save annually in interest $1,455,733.

I have, etc.,

William R. Roberts.