Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1915-10-04
MORGAN FIRM PUT
IN CHARGE OF LOAN
Interest Payment on AnglO-French
Bonds Will Be Paid Through
Company.
OBJECT TO CENTRALIzE WORK

NEW YORK, Oct. al. p. Nor
gan q Co, have been placed in entire
charge, subject to the wishes OF the
syndicate managers. of the flotation
OF the 100000 credit loan to
Great Britain and France in the
United states. Announcement TO this
effect was made today.
The Morgan firm was requested to
act as agents, IL was said, at meet
ing between the syndicate managers
in this city and the members OF the
Anglo-French commission which was
held last night. The syndicate man
ayers are In charge of the loan in the
entire country. other local syndicates
reporting to them.
To CcHtrnIiEe work.
The idea OF appointing the Morgan firm
ne agents Il was said. was to centralize
the work Interest payments on the
bonds will be diSburscd through the FIRM
Probably interest viii be paid In other
cities than New York.
Lord Reading and his associates on the
Anglo. French commission have virtually
completed their mission here and expect
10 depart for Europe within the next few
days. They have yet to sign the CON
tract for the loan and this probably win
be done early next week Lord Reading
Will sign for Great Britain. lie has fun
authority to do so without further en-
abling act OF Parliament. Il IL said. One
or both OF the French commissioners will
sign the documents on behalf OF France.
Looking to Future.
With the Virtual assurance that every
dollar OF the Ng loan will be subscribed,
Wall street began today to speculate as
to the length OF time that would eiapse
before another credit will have to be
established. Some authorities placed this
at nine months. some at six. In the
meantime II Is probable that some other
method win be devised TO aid In stabniz-
ing exchange. The fotation OF a con-
siderable sum OF short notes has been
mentioned
subscriptions 20 the loan were said to-
day TO be exceeding the expectations OF
the syndicate managers. The exact
amount spoken for thus far is known TO
the syndicate. but was not disclosed to-
day II was generally believed, however,
that the loan had not been ovsr-sub-
scribed and that. while the entire amount
would be taken within short time, II
had not all been spoken for as yet.
support OF this theory was found in the
announcement today that some OF the
largest banking institutions In the
ooua,ry we're still taking an comerp with
thcm into the negotiations on the unucr-
writer's basis, which provides for a cash
payment at the rate OF 9s and a rebate
later OF ~. .... .,..
Small Fry IncIuded.
Even the subscribers for 500 bonds were
included. II was said. and would be until
the underwriting lists are closed. The de-
sire OF the syndicate, II wRs said. Is to
make the loan as popular M Possible. and
to this end It was probable that small
subscribers wishes would be considered
first.
II also became known TODAY that some
OF the largest underwriters had given
and minimum amounts for
which they wished their names entered
This would provide considerable latitude
In alloting bonds to the small investors.
No figure whatever has been set at the
mark at which It Is desired to stabilize
NsNNh@hbNf aAiN Ah'it ~ ItAH1h 10 UtiltNt
that the commission and the syndicate
will both be satisfied II the rate on ster-
ling does not fall below it's present level
which ranged today from N.72 to A7a.
This Is II to 10 cents under normal
The Vests share.
CHICAGO. oct. 3-Telegrams were re-
celved from ]. p. Morgan q Co. today by
the local managers OF the Anglo-F French
loan syndicate, directing that no further
subscriptions be accepted, except subject
to confirmation by the syndicate heads In
New York.
Chicago and the middle west will take
not less than $50, 900 900 OF the bonds. ac-
cording TO reports from local banks and
bond houses. A meeting OF the big In
vestment houses of the city was held to-
day for the organization of the local syn
dicate and reports OF the extent Of sub
scriptions In this territory we're made.
One Chicago capitalist, II was reported,
had placed an order for 100000 OF the
bonds and. II was said. made subscrl1-
tions for t250,OOO which had been received.