UNITED STATES.

Taranaki Daily News, 22 September 1915, Page 5

UNITED STATES.

THE ALLIES' LOAN. PRO-GERMANS WANT TO HELP. New York, Sept. 20. An underwriting syndicate is in progress of formation to underwrite the Allied loan. It is now certain that 100 millions sterling will be secured. ProGerman financiers are ready to join if the loan is not used for the payment and purchase of munitions. The Allied Commission, however, will most probably refuse to consider this condition. The bonds are from five to tefl years.

ALLIES' INVESTMENTS. AMERICAN MONEY AVAILABLE. Received Sept.2l, 9.25 p.m. New York, Sept. 21. Mr. Pratt, Chief of the Department of Commerce, addressing the Bankers' Association, estimated that British investments abroad were 17'/ 3 billion dollars, French 6>/ 2 billion dollars, and German 5 billion. The surplus of United States exports over imports for the year ending next June was 1400 million dollars, which would be reduced to nine hundred million by remittances abroad. The United States ought to invest nine hundred million dollars abroad annually, in order to keep exchange normal.

SYNDICATE WILL UNDERWRITE. FIRST LIENS OX FRANCE AND BRITAIN. Received Sept. 21, 10.10 p.m. London, Sept. 21. Reuter's correspondent at New York fays that the conference of bankers and financiers resulted in a decision to form a countryside syndicate to underwrite the loan. It is estimated that thirty thousand institutions will participate in the underwriting, and it is to be expected that it will be 600 million dollars, with a first lieu on the revenues of France and Britain.