The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-06

"Tuasmuch a. the arrangement ndi-
Gated and 20 he stated In the proposed
formal contract embracing the same Is me-
f0tated under conditions unprecedented
ard unfpreseeabla IN their outcome. both
Great Britain and France being at war
and Paris actually In a state Of Siege, II
&c expressly understood that In the event
mat ocean massage between New York and
F0c'and or New York and France shall
NOT continue open to substantially the
I'm" extent as prevails at this date. and
~" shipment Of gold or OF grain or other
American products from New York to
FINLAND or 10 France shall be- materially
inpcded. or II 10y reason Of any superior
roo further proCeedng shall become Inn
Practicable. then and in that event the
provisions stated In this article Ia the eX|
ten not heretofore performed shall be
com" and shall be terminHble at the cleo
ton of the syndicate managers
w tho event Of any such termination
~ no syndicate managers the syndicate
FhaN ha discharges and relieved from the
i'"' ..0Ds indicated in this article and to
10" embodied in the proposed contract, to
i1t extent that the same shall not have
pNen performed prior to such determine
f.on Nevertheless, the syndicate shall
continue under obligation 10. take and pay
Tor sad, 300 coo, 900 of the notes OF the
''F As aforesaid.
THE syndicate managers are TO act as
managers ~ the syndicate without any
t'mn"' alton. They may become mem
''rs o. the syndicate and as such they
may share I'm IN" profits or the losses OF
th' syndicate For It's services in effect
''r 'N' payment ~ such notes now out
t'1rdinr and payable in London or In
l'7r'e tho syndicate shall be entitled TO
'"'A'n ont Of the said sum of ss0,243,-
H'N = 20 zoe received from the city, the
r'' rpHt~ n any cover and above all OK
81 10, tpat he
s'riratc), which may be realized by II
J.. '''"'irg such payment AT "A cost to 1t
~ Joss than {S0.2i3,9+0.47 az In the fiuc-
't'.pu ~ exchange or otherwise any such
S1.'- shall be made). hut in no event
t.ht the net profits so retained by the
s.h'oate exceed . per cent. upon said
-" 1890 A., and any saving in excess
- SI.h > per cent. shall bc accounted for
ma De paid TO the city. H. however by
T'aS N Of an advance in exchange loss
f1A.' Jesuit, then such loss shall be borne
exclusively by the synd cate
llrury =. Dawson OF ]. I. Morgan &
Co. IN Speaking Of this yesterday. said
I' H very gratifying that the banks are
l.a'Uous I'm their support OF the loan. 1t
% q splendid tribute to the public spirit of
-" utuNtus community that of all who
nave 20 far been invited to participate
h'' " single negative reply has been re-
C"Nch"
The effect Of the announcement that
e." .ity would bo able to meet, It's ohliga-
Ton abroad was favorable to the foreign
sr"hnnge market Demand sterling, which
closed on Friday Mt 3, dropped to +9s
yesterday, while cables closed At 4.99h
o. compared with 80, the day previous.
l"nhors reported larger offerings OF cotton
!, Is than had been seen for some time,
W foreign exchange circles 1t II stu
~ eyed that "A large amount OF gold Will
rove to he sent to Canada owing to the
l'nt that there are outstanding many
millions In finance bills which will soon
Gall due