The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-08-08
SUBSCRIBED IN AMERICA
Entire New $50, 900, 600 British
War Loan Wanted Here.
AT Least Half of the Lean WIFI Be
Allotted to This Country TO Obtain
Big Shipments Already Begun in
bonds To BE Listed in New York.

| NEW YORK, Aug S.-When the sub
| seription lists for this country of the new
| British war loan were closed yesterday it
was found that American investors were
| prepared to take up the entire issue of
| bonds. Although no official statement
could be obtained from either ]. Pierpont
| Morgan & Co., or Barring Magoun & Co.,
who were authorized to receive subscrip-
| items in this city, as to the humber OF
| bonds applied for on this side of the Allan
! tic, it was understood that the applications
represented total of $55, 000 O00, or IS, O0O,-
| GOO more than the entire loan.
| Technically, the subscriptions only open
| ed yesterday, but since Saturday requests
| for allotments have been pouring in, and
| the eagerness to obtain the bonds has been
| great. The celebrity with which the loan
was taken up was commented upon in
Wall Street yesterday as evidence of Eng
lands high credit in this country; and
that, too, despite the fact that not only has
Great Britain still the Transvaal war on
her hands, but is also embrofied in the
Chinese trouble
half the loan, it is understood. will be
apportioned to this country Dispatches
received in the day from London quoted
Sir Michael Hicks-Beach, the Chancellor of
the Exchequer, as saying in effect that
when 1t was decided TO issue the loan an
Anglo-American house had offered to place
hall the issue in America; that he had ae-
cepted that offer. and thereby the success
OF the loan was assured It is believed
therefore, that far as this country is
concerned. the pro rata allotment system
VIII not be adhered to- as was the case
IN March last, when only 90 per cent of the
Khaki loan fell to the share of American
subscribers.
There was a disposition on the part of
some bankers to attribute the action taken
by Sir Michael Hicks-Be in some de-
gree to sentiment-a desire as it were. to
recognize the celebrity which AmEri an
monetary interests manifested to take I'D
not only this war loan, but the preceding
one The more likely and in fact the real
reason is 10 be found III a remark which
Sir Michael himself made in the House of
commons yesterday, when he said the re-
serve at the Bank of England stood at a
lower point than it had for years, and he
had been advised that great relief might
DC Afforded by moveme.-t of gold from
the United States, if a large part of fha
loan were allotted to American subscrib-
ers-
There was some talk yesterday of the
adY1Ss bility OF listing the new bonds. in
view II the fact that SO large a proportion
OF the issue would come here. Although
English Government bonds have not h tn
erto found place among the Stock Ex-
change listed securities, 1t is beliyed that
no opposition would arise If an application
to list the present issue were made Such
action, moreover, Ii was pointed out
would have an important bearing upon
the question of loans made by the banks
during times of financial depression, when
quickly realizable assets are required as
collateral for call transactions
The predictions made on Monday by rep
resentatives of some of the metal export
Ing houses, that from IS, 600 900 to SO
o00-o00 IN the next week OF two would be
shipped TO Europe, seem likely TO be full
hiiea- Barring, Magoun Co. yesterday
AFTERNOON increased their gold engagement
for shipment by the Oceanic, sailing for
England today, to s.. SOC. G00 HeideIbach
Ickelheimer & Co. will also send $500 COO
in gold bars to England by the Oceanic,
making total export-today of So, geo. GEO.
The same firm will despatch a further
$4,000 of gold by the French steamer TO-
morrow. Lazard Freres have engaged ST.
o6O.0oO in gold for shipment tomorrow,
while Ladenburg, Thalmann & Co. will adj;
to the outflow by sending 5000, 600.
so far the total gold engagements for
Shipment tomorrow reach 81, 100, OC0, max
ing an aggregate for the two days of So
100000. II was learned that several other
Hrms were making enquiries yesterday for
gold for export purposes so that additional
consiguments OF the yellow metal to Eu
rope may be looked for in the next few
days.
Even should further large shipments be
made to the other side. it is not expected
that any real disturbance in the money
that New York has more gold than it can
proftab1y use at this time
But while England wants gold. it is an
parent that there is plenty OF money
abroad for investments Ia good securities.
lnasmueh as the new loan was quoted in
London yesterday at a premium of 1 Fer
cent. NO premium offers save few scat
tering ones. have. SO far as is known,
been made here.