Issued $9,000,000 in New York at 93¼ to repay outstanding ($2726,000) of 8% Loan of 1924 and to repay internal loans. Also for improvements to hydro-electric and tramway services, sewerage and paving. Redeemable 1954 six monthly against sinking fund. interest and sinking fund mostly in default since 1931. exchangeable for Colombia 3% bonds from 1949 at $1200 new for $1000 old.