Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1915-03-16
hEW YORK IS
N|ORlDSBANkER
England Alarmed 81 fohtoh D.
ing Taken BY .. 8. il South
American Trade.

land in the last week ON one, three
and five year notes affords another IL
lustration Of how this city has for the
time being at least. supplanted Lon,
don as the worlds banking center.
During the last seven months New
York has financed foreign countries to
the extent of $2eo,000,CC0 A list OF
the more important foreign loans plac-
ed here since the beginning Of the
European war includes The following:
Russian government, So, 100000; the
French government, one year notes,
~, 1000, O0o;; Swedish government, two
year notes, Is, 900, 600; Argentina. 9
three year loan, Nv, 000, 900; Norway,
short term notes., $4,000, 900: Swiss
government, notes $15, 5000, 900; Cana.
dian provincial and municipal loans,
$50,000,G0O.
BID loan s~ubscrlbes.
According to last weeks estimates
At leasct H2y000,000 of the last Ger
man war loan has been privately sup
scribed for in this country. Details
of the loan are not available. How
ever. II is known that the interest rate
is s per cent; also that with exchange
where tits the bonds may be pur-
chased BY American subscribers
around IS. As no n believes that
the German government will default.
whatever happens, tLs bonds r at.
tractive speculatively whether they
run one year or fifty.
In discussing our foreign loans one
OF the best posted financial men in
London. q man who is verytclose to the
bank of london, said:
London has been as quick, as New
York to recognize the remarkable
that has come over your posi-
ton in regard to the rest Of the flnan-
cial world. Your growing importance
as a world power has been reflected In.
creasing:y In the course Of foreign ex-
at New York, In your suddenly
and largely Increased exports, and in
your loans Of capital to outside ma
lions.
England Not Blind.
although our people are by no
means blind to the evident intention
On the part Of your bankers and bust
men to make q determined at
tack upon business openings in such
competitive markets an Argentina, we
lully recognize the natural character
Of such ambitions. They are. indeed,
consistent with the spirit of1progress,
which has always marked TIL, business
Of America. and which accounts
'or the Enprecedentedly rapid growth
II your national prosperity
ALREADY London is beginning to
Of large mercantile transactions
With Argentina. wherein the bills
which formerly would have been
lrawn ON New York: and the fact 10
'ully noted that some Of your most i'm.
banks have established branch
IS or agencies In Argentina, evidently
With the object Of increasing business
citations with that country"
No One Known.
No one here believes seriously that
Vew York Is to become thaubR4ker Of
he world; nevertheless itAA.lhfhM be
omitted that we have sa7Y9@5df0ur.
elves as we'll as London, Berlin and
Paris, by the way we have shouldered
he colossal financial responsibilities
,fsthe last seven months.
No one knows how long the war will
asst or how England will emerge u.
lancially from the struggle, There is
his much, however, to be said: Our
federal reserve banks are now
ending their. assistance in transacting
he business Of discounting foreign &C.
.eptances, just as the bank of England
llways stood behind the London banks
md It is reasonable to- suppose: