Debt Funding

Secretary of the Treasury Mellon announced last week that he had come to an agreement with Antonious Piip. Mr. Piip is Minister Extraordinary and Plenipotentiary from the Republic of Esthonia. They agreed on the terms of repayment of Esthonia's debt of $13,831,441.88 to the U. S. Esthonia is to pay $1,441.88 at once and will repay the rest over 62 years with interest at 3% and 3 1/2%.

The mission for the funding of the Italian debt to the U. S. arrived in Washington and opened negotiations--without announcing that it would go home on a given date, as did the French Debt Mission which failed.