Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-22
IN VIRTUAL ACCORD
ON DETAILS Of LOAN
Formal Proclamation of Success
of Negotiations Expected
Within Few Days.
SIZE is DEFINITELY FIXED
Members of So-Called Pro-Ger-
man Banking Houses Will
Help Float Issue.

NEW YORK September 2l.-Bor-
sought in America on behalf of Great
Britain and France were said tonight
! 10 be in virtual accord on all details
of tho proposed loan except two. These.
ii WAS said. were not OF prime i'm
portance Formal proclamation OF the
success Of negotiations is expect ed
within three or four days. and possibly
within rty-eiSht hours
More progress was said to have been
made to-day than on any other two
preceding days. y rough Inventory of
what was accomplished. it was said.
would read about follows:
Members of New York's so-called
pro- German bankinE-houscs will help
float the loan.
Munitions OF war no longer enter
into the topics discussed While it can
not he guaranteed that they will be
excluded from the loans operation. II
is the present tentative plan TO con-
tinue paying for them by shipments of
gold and American securities from
London and Paris to New York
LOAN WILL DE LESS
THAN $500, 1000, 900
nitely agreed TO. subject TO revision.
II VIII be less than 100000. 600, prob
ably s7Co.ooO,ooo.
The notes issued for the loan will
run five years. and will carry con-
version privilege, emitting the holders
to surrender them at maturity. II de-
sired, for joint Anglo-Frcnch govern
ment bonds bearing Az per cont In
! tcrest and covering n period Of prob
ably twenty years. rcdeemable. how
ever, at the option OF Great Britain
and France before maturity. and at the
conclusion of a term not as yet dis
closed.
While agreement on the foregoing
details was said to have been reached,
the entire program was regarded as
tentative.
Members of at least two big financial
institutions regarded us pro-German in
their sympathics were said to have
pledged their support to the project.
and others were expected to fall in
| line.
One OF the two was Kuhn. Loeb &.
Co. whose power in the financial world
has been rated as second only to that
Of j. r. Morgan & Co. The firm itself
will not subscribe to the issue. 1t was
said. and no authoritative announce
ment whatever has been issued in its
behalf. There were Indications how
ever, upon which was based n report
that some OF the firms members would
subscribe as individuals.
POWERFUL INTERESTS
WILLING TO SUBSCRIBE
Other powerful financial interests, il
was said also were willing to subscribe
TO the Anglo-French loan. This report
was strengthened by the presence dur
ing the day of William Rockefeller and
Henry c. Frick at the office of j r.
Morgan & Co. Mr. Morgan has been
devoting virtually his entire time re-
Gently 10 the negotiations. and II was
announced that some of the Rookie
feller and Frick millions would be in
vested In the joint nGlo-French notes
There was considerable speculation
as to the nature of the details of the
proposed loan said to remain unde-
cided. One of these. It was thought
was the size OF the fee TO be paid the
underwriters.
1t was thought that they would re-
ceive the notes at a figure between 97h
and 90. the investor paying par.
The other detail was thought in soma
quarters to relate to the participation
OF Russia Both of these surmises
however, were unconirmed.