The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1900-03-14
SECURES AMERICAN LOAN
New York Syndicate Lends S25,oOo,-
900 to the Russian Government.
Money Will Be Left in This Country
For Purchases Of Iron, Steel, Coai
and Finished Products.

NEW York CRY Especially ).-1gaoring Ber-
in. London, Paris and the other European
banking centres, the Russian Imperial Gov
,rnment has come to New York City Tor
oan. A syndicate OF financial institutions
II this clty-banks, trust com panies ana
Insurance companies-haTe just arranged
The purchase OF an issue OF S25.OOO,OO0 OF
four per cent. bonds, representing hrst
mortgage on the WladiEaWkas ratiWay
system. The principal and interest ottnese
bonds is guaranteed by the Russian GOV
ernment, and Is payable In American goio
dollars. Al
Ths nature and size OF this loap and the
disclosure which 1t makes OF this, ,countrys
present position as financial power OF
the world Is its most interesting feature.
Another Is the surprising SHOWING lt re-
veals AS to Russia's purchases In the Amer
lean market OF iron, steel, coal and fn-
shed machinery. Besides, there ts tine IN,
:eresting fact Of; a gold loan guaranteed
oy one OF the great European POWERS sell
Ing In the American marketat q price
which netssthe syndicate sliGneiy more
Than four yer cent.
IL NAV be stated positively that the first
$40 600 900 OF the bonds have just been de-
,iyered In New YORK. City, and that pay
mant ~ AZ '(Sol. .0O0, has been made on ac-
.nnnt. From financial standpoint, pro-
oabIy the most remarkable part OF the
operation lies inFthe fact that all OF tue
,ash to be paid by the syndicate for tne
bonds will remain In this country, and that,
therefore, there will be no disturbance IN
the exchange markets. ,n
A special arrangement, made with tue
Russian Government BY a representative
A.. n,,, 40 "a Fxvb n, .racantly raturQ6Q
from st. Petersburg, provides that none OF
The money for the bonds Is to be trans
ferrsd to Russia but that all OF the
amounts are to- be- deposited In New YORK
CItv to the credit OF the Government and
dIsbursed under direction OF the Russian
flscal agent In America, M. de RoutkowsEy,
In paymept OF the balances which Russia IL
Incu tring with AmeSiean shipbutlders, iron
and stebi manufacturers and others OF that
ssiIs siIsss Z not generally Sknown that Russian
n,1rcllases In this country amount tor be-.
tween q. 900 900 and SIC, 900 900 annually
sucir we'll known firms rs the Cramp SHIP
Building Company, the Carnegie Company
sfhe Bethlehem Steel Company, the BALDWIN
e eIocomotiye Works, the Westinghouse Air
Brake Company and the big Western >har-
vastinp machine companies being the prtn-
cfpai sellers. Ia addition to these prod
b.ucts Russia is,abeut to conclude the pur-
chase Of si,0p0,0oo worth OF bituninous
soal in this city. .
Ebelieye that this lEitial pur.
sctase OF coal al the buying OF materials
in connecti lth the constru uction OF tue
Trans-S Siberian Railway aad the great ae-
yelopnnentsQt III sgft6pltural products In
dicate ONLY the begtnntng OF Ruas!a's3 pur'
shasesin this.fQHntry. ~,
The New N6fN Herald; commenting on
the placing Of Russian loan In the gAtted
States, says: E5 T
effected by the leading Powers the sum IS
not so large as to startle the financial world
by any means. :,
'aBut the terms under which the loan Is
made. the non withdrawal OF the amount
furnished, the objects for which the money
is to be expended, and the fact that the
anancierlng has been quickly accomplished
here. and not OF some European money
,entre. make it an affair that has deep
significance In many ways.
"The money Is to be left here to be ex-
oended In purchases OF manufactured
material for the Trans-Sibertao Railway
and other works OF public importance
20 Russia. It means that this customer
,or our great mills aud foundrle5 Is to
be q lurger customer than ever; that
/, Russia is at the door as O buyer,
and is deposrIng large sum because
she expects to give larger orders than ever
In the future-that not only our CONNER
,Ial market Is one In which Russia WILL be
. large operator, on the right side OF our
edgers, but that she fads our fnaneiers
.eady to accommodate her, to their Joint
profit, as we'll"