ANGLO-FRENCH LOAN MISSION.

Dominion, Volume 8, Issue 2573, 22 September 1915, Page 5

ANGLO-FRENCH LOAN MISSION.

AND PRO-GERMAN FINANCIERS UNTENABLE CONDITIONS By Telegraph—Prose Association-Oopyrieht New York, September 20. An underwriting syndicate is in progress of formation, with tho object of underwriting tho Allied Powers' loan. It. is now certain that one hundred and sixty millions sterling will be secured. Pro-German financiers arc ready to join if. the loan is not used for payments in tho purchase of munitions. Ihe Allied however, will most probably refuse to consider this' condition. The honds will run from five to ten years only. - (Rec. September 21, 10.30 p.m.) London, September 21. Router's correspondent at New York says that the conferences of bankers and financiers resulted in a decision from the country-wide syndicate to underwrite the Allies' loan. It is estimated that thirty thousand-institutions will participate in' tho underwriting. It is expected to raise COO million dollars with a first lien on the revenue of Franco and Britain as security. THE EXCHANCE RATE. (Rcc. September 21, 9.25 p.m.) New York. September 20., Mr. Pratt, Chief oh the Department of Commerce, addressing the Bankers' Association, estimated that tho British investments abroad amounted to 17-} billion dollars; Froncli investments, 6} billion; German, 5 billion. Tho surplus of United States exports over tho imports for tho year ending next June would bo 1400 million, reduced to nine hundred million by remittances abroad. Tho United States ought to invest nine hundred million abroad annually, in order to keep tho oxchangc rato.normal. [17} billion dollars is about £3,500,000,000; 8} billion, £1,300,000,000; 5 billion, £1,000,000,000; WOO million, ohtrnt. i!san,qoo,uoo j ouu million alwut