The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-08-27
STREET QUOTATIONS.
o'clock p. M.
AMERICAN FINANCES ABROAD.
Success OF the United States Financial Are
engagements in Europe.

Success OF the United States Financial Are
engagements in Europe.
Observation-Disclosures, August IL, 1871.
Judge Richardson, Assistant Secretary United
States Treasury Department. leaves here to-morrow3
after having successfully nlled the mission entrusted
to him respecting the negotiation OF the new i've
per cent lOan. telegram received last night at q
late hour informed the Secretary that Messrs. jan
Cooke, McCuloch Co., OF London, had closed for
the whole outstanding balance under q combtna@
ton entered into with English and Continental
bankers. at the same time negotiations mad BEEN
entered into under the auspices OF the banking ilrm
Of Seligmann Il StetLhemer, OF Frankfort but the
pending arrangements were not brought to q
close. 1t would appear that much valuable time
was lost owing to the absence from Frankfort Of
some Of the leading operators. l nave already had
occasion to remark that at this time Of the year q
majority OF business people are taxing holiday
ana to this circumstance, probably, 1t must be
Cribed that the Syndicate ut Frankfort was FORE
stalled by their brethren IN London. certain
amount has Of course been reserved to Frankfort,
but the amount Is OF necessity limited. Had timd
been given TO compete arrangements the whole
amount would have been placed in Germany. I
need scarcely add that much disappointment Ii felt
among the bankers here. The subscriptions, as ID
We're, mad been very large, headed, teheve.
by the Messrs. Sellgmann with $4,000, 00OS
The immediate consequences OF the announced
ment that the loan had been successfully
lauHCneu, Uecu COuSlucTdDc rise III the CiaSS
OF values known az 1881 and ten-iorties whild
other descriptions were somewhat weaker when IL
became known that Secretary Boutwell, had cons
pleted arrangements to call III outstanding bonds.
According 10 other accounts the jealousy among tho
various competitors has been the cause OF playing
into the hands of the English combination. HowT
ever that may be- the feeling OF disappointment
is exceedingly great ana from 1t 1t becomes evt.
dent that all had n desire TO secure the nego-
tiatlon, but want OF unity and prompt
acu0n produced delays. which turned OUT
fatal to German interests. l undersJand
that no five per cent bonds will be placed ON
the market unless parties consent to take equak
proportion OF 1Our-and.ahalf per cents. 1t Is nOu
very likely that the bankers Will lose their opportu>
nifty the next time. Now that the ball Is started.
Secretary Boutwell, Will meet with difficulty IN
placing on the German markets any amount he de-
sres be 1t OF hve or four and half per cent inter-
csLbearng bonds. The confidence IN Americans
credit as 1t appears, is unlimited among all classes
OF people in Germany. They do not purchase ouH
securities Tor mere speculation. Large are
taken as 6Oda fde Investments, wen knowing that
no better security can DC had Oh the face OF the
globe. In making this assertion do consult M
own feelings, but am correctly interpreting the ex-
preSSlonS OF all persons have had occasion to cone
verse with Tor some time.