New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-22
A GREAT LOAN TO RUSSIA.
SYNDICATE MAY ADVANCE saooooooo
AMERICAN CAPITALISTS REPORTED no HAVE
ARRANGED TO FLOAT COLOSSAL ISSUE
OF 3ll PER CENT RUSSIAN GOV

AMERICAN CAPITALISTS REPORTED no HAVE
ARRANGED TO FLOAT COLOSSAL ISSUE
OF 81 PER CENT RUSSIAN GOV
ERNMENT BONDS
1t was reported yesterday. upon what Is re-
garded as excellent authority, that the Russian
Government was negotiating with a powerful
American syndicate, for the placing OF loan
OF $900O0OOO in this country The bonds were
to bear 80 per cent interest. it was added. The
Russian Government had fixed % its price
and the syndicate offered %: but a compromise
had been reached. and the announcement Of the
completion OF the colossal transaction might be
expected by the end Of this week.
IT has been reported for several days that
the Russian Government was seeking loan
in this market but the amount named has
never approached S9OOOOOOO Isaac y. Selig-
man. Of j. & w. Segman & Co. said on Mon
day that his firm and others had been sounded
on the subject. The amount OF the loan was
10000 900 he added the bonds yielding per
cent and being issued by n railroad ana guar
anteed by the Russian Government on the
same day appeared dispatch from st PETERS
burg 70 the effect that Mr.. WINS. subse-
ouently ascertained 10 be William VI. lVihs' vi
this city had submitted to the imperial Minis
try Of Finance a proposal for the making Oh
large loan 10 Russia by a syndicate OF hnan-
ciers whom he represented. No details regard
ing this proposition could be learned.
Russia in which country specie payments had
been suspended since 1876. has recently been
taking steps 10 adopt the gold standard, and for
that purpose has been absorbing vast quantities
OF gold from European financial centres. she
has also raised by loans great sums abroad for
Of her and navy, Tor tne
building Of the Trans Siberian Railroad and for
construction work In China. She is still In
urgent need Of funds FOR all these purposes, hut
Is finding It increasingly difficulty TO raise them
in Europe France after making heavy invest
ments on account Of the Trans Siberian road.
now seems disinclined to advance more money
to her political ally. German capitalists have
loaned several hundred millions a year for a
series Of years to Russia, but the recent IMAM
cial stringency In Germany, due to domestic
causes has made 1t out Of the question
for the capitalists Of that country to make
further loans to Russia Efforts have
been made too. in London; but there. also.
there has been Discrimination to adventure
money in Russian loans. There was left the
United States Money Is abundant here. and
the large buying Of bonds Of American corpora
lions for investment purposes has been for weeks
a leading feature of the stock market Indeed.
dealers have complained Of difficulty In Sc
curing issues for selling. But the Ameri-
can public Is unfamiliar with the bond
issues of foreign governments and espe-
cially familiar. perhaps. with the Russian fnan-
cial situation and Russian Government loans.
1t Is the belief Of the members of the syndi-
cate who are negotiating for the SSo,OOO,EO
loan. however. that 1t can be placed here with
out great difficulty. They understood 10
argue that the public will take this form Of
investment In preference TO putting their
money into bonds Of American corporations.
which may have to be recognized. as so many
have been: and they assert that in three years.
II the present rate of progress shall continue,
| New-YOrk will rival or excel London as a
world centre Of finance.