The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1915-09-16
LOAN PROSPECT HOPEFUL
New York Bankers Say Allies viii
Get Their Billion Dollars.

New York, Sept 16-America'
S16, 100000 loan to Great Britain and
France seems to be well on the way
to actual accomplishment last night,
according to New York bankers fam
liar with the pledges secured by
members of the Anglo-French financ-
ial commission during their five
days stay in this country.
Announcement at this time that
the success of the loan was assured
would be, these bankers thought, de
cidedly premature, but there was ev-
cry indication in their opinion that the
commissions work thus far had met
with degree of success that had full
ly equalled their expectations,
This rosy view reflected the
thoughts of the men who have cham
pioned the commissions cause here
and aided them by hard work 1t did
not coincide with the sentiments of
those opposing the big loan, nor of
the sO-called pro-Gcrman fnanciers
here. who have not been invited to at
tend the commissions conferences or
meet the commissioners.
So far as could be learned from
bankers in touch with the commits
sion and its work. the situation last
night was about as follows:
Pledges have already been secured
for a considerable fraction of the big
loan.
Other pledges are in prospect.
The so-called pro-German banking
houses of New York will be invited to
participate in the loan if the commits
sion can be persuaded that they are
sincere in their wishes to do so.
The billion dollar loan probably
will be divided into two and possibly
four separate series of equal amounts.
Bonds upon which the loan will be
granted will not bear less than per
cent interest and will be payable in
dollars, free from British income tax
requirements.
An attmpt will be made to sell the
bonds at par in case the interest rate
should be per cent. Members of
the commission fully believe that
such bonds could be disposed of at
par, but American bankers have their
doubts on this score
Opposition to the Notation of the
loan is countrywide among Americ-
ans of German sympathes or parent
age, but has strengthened other bank
ers in their determination to aid in
floating the loan, in the opinion OF the
commissions friends, and has not Sc
riously mpedcd the task.
The bonds are to be payable in
either five or ten years. Possibly one
series will mature in five and the 9th
er i'll 10 years This has not been de,
cided.
Into the hands of the commission, |
1T became known yesterday, many |
American bankers have placed their J
pledges to take part of the loan. Not
a hint as to the amount of these plcdg |
eS was given, but there were indica- |
tons that the sum totaled many mil |
iiOho' utoc IIiOulioCo, IL hho dSoull- |
ed were contingent upon conditions !
of the loan.
In nearing the intimate details of |
the transaction, the members of the |
commission narrowed their conference |
cs yesterday to q smaller circle of |
linanciers which included only the |
most influential of the country's fin
ancial and industrial factors. Among
the men who are known to have con-
suited with the commissioners are j.
p. Morgan, George +. Baker James j.
Hill, and Festus J. Wade of st, Louis.
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