South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-01
Vigorous Effort is Being Mace
by the Underwriters ASSO-
citation to Get Mo ey as
Quickly as Possible.
ONE BIG INVESTOR
TO TAKE S30,00O,OOO
Terms Are Announced-AIIied
Commissioners Expected
to Return to Europe in
in Few Days.

NEW YORK oct. 1.-The vigorous
efforts being made by the Under
writer's syndicate of New York bank
ers to place the Anglo-French war
loan Of 100000, 900 in this country
as quickly as possible, indicate two
things:
THAT the allied reserves are
pressing the syndicate for their
money.
2-That the Anglo French credit
commission will be seeking another
war loan in the United States prob
ably within six or eight months.
By new terms agreed upon by the
syndicate temporary bargain prices are
being offered for a few days by which
big investors may subscribe to the loan
at sc IA instead of 9S, the prices
which will subsequently be charged.
Flooded With Orders.
J. P. Morgan & Co. are reported TO
be flooded with orders for the bonds.
One big investor was said today to
have pledged a subscription of about
$50, ,O0Os 600. This report aroused much
speculation as 10 his identity. The
names mentioned in connection with
this report included those of John ID.
Rockefeller, sr.. William Rockefeller,
Henry Clay Frick, ]. p. Morgan,
George L. Baker, Vincent Astor, Will
liam A. Clarke and Charles NJ. Schwab.
In the same connection 1t was rumor-
ed that Hetty Green, the chest wom-
an In America, would participate in
the loan, although there is little ground
for belief that she would buy $3O,.
100000 worth of the notes even at
bargain prices.
1t is also understood that the Gug-
genheim Bros. will be heavy buyers.
The underwriters syndicate is to be
dissolved at the end of 60 days unless
developments ih the meantime make
this impossible.
Among the chief terms announced
by the underwriters for the guidance
of investors are the following
Without Restrictions.
Participation in the loan to be given
to all .lasses of institutions, investors
and dealers without any restrictions.
Syndicate TO have the right to re-
purchase up to 10 per cent of the total
underwriting
Selling commissions to he three
fourths per cent from which half per
cent will be allowed other dealers and
institutions with bond departments
not in the syndicate
Commissions not to be paid until
the syndicate is closed.
Withdrawals to be allowed at SS and
interest, and not less than 3.4 per cent
will be rebated on bonds withdrawn
after the syndicate is closed.
Temporary receipts will be delivered
az once in the form of direct obliga-
lions under British and French gov
ernment.
Withdrawn bonds shall not be resold
during the life of the syndicate
Any incorporate banks gets a de-
posit equal TO its participation on
which it allows interest at the rate of
two per cent per annum.
Any participant withdrawing his
full participation is relieved from any
further syndicate liability.
Baron Reading and the most of the
other commissioners will probably sail
for Europe within the next two or
three days, but one member, probably
Basil p. Blackett, is expected To re.
man here as a representative of the
two allied governments while the sale
of the notes TO the public is going on.
Mr.. Blackett is secretary of the credit
commission.