New-York tribune., 1916-07-14
American Holding Co. to
Advance 100000 and
Issue Own Notes.
TO BE OFFERED TO
AMERICAN INVESTORS
Offering Price Will Be so--
Robert Bacon Will Head S1O,-
100000 Holding Company.
rorua, announcement was made yes

Formal announcement was MADE yes
terday by J. P. Morgan e. Go. ana
Brown Brothers & Co., syndicate man
ayers. of the completion Of the sloo'-
600 900 loan to France which has beeh
under negotiation for several months
The details do not differ in the main
from those already published. II Is
understood that Octave Homberg, a
member of the commission which
negotiated with American bankers the
$500 ,OOO, 900 Anglo French loan and the
special financial representative OF tne
French government in the negotiatlon'
for the loan just completed, Will return
TO France in the near future.
Robert Bacon, ex-AmDassador "
France. is to be president Of the Amer,
can Foreign Securities, the Slo,ooo,oooo
holding corporation that will loan sloo,-
600 900 to France and offer TO investors
in this country its own debentures "
the amount Of s95,000,00O. This mover
plan was nit on owing to the fact that
Tho French government did not wish to
float a direct government loan IN the
nv the syndicate managers said:
"An American corporation is to be
formed under the title of the Ameri-
cen Foreign Securities Company, the
oapital stock of which will be SlO,ooo'-
900. fully paid.
"It is proposed that the company
shall lend sl0O 10000 to the REPUBLIC
Of France. and that the company shaii
=
the extent of about S95,000,O 900 IN this
market. The three-year notes are TO
be secured with margin OF 20 per cent
by obligations of the government OF
Argentina. Sweden, Norway, Denmark,
Switzerland, Holland, Uruguay, Egypt
Rrazil. Spain, Province of Quebec,
shares of the Suez Canal Company, and
bonds and shares of American corpora
tons. II is expected that these three
wear notes will be listed on the Ne"
York Stock Exchange.
"Robert Bacon, ex-Ambassador TO
France. is to be president of the COM
panv. and its board of directors Will be
James s. Alexander, president Nationai
Bank of Commerce.; George r. BAKER,
chairman First National Bank; james
Brown, of Brown Brothers g. Co.; !;
Dewitt Cuyler, president CommerciT
Trust Company, Philadelphia; Charles
G. Dawes, president Central Trust Com.
pany. Of Chicago; Clarence Dillon, OF
william A. Read & Co.; Allan b..
Forbes, of Harris, Forbes e. Co.; Henry
/. Higginson. of Lee, Higginson Co.;
Louis W. Hill, chairman First National
Bank of st. Paul; Edwin S. Marston'
president Farmers Loan and Trust
Company; A. W. Mellon. president Mel
Ion National Bank Of Pittsburgh; Ed
win G.. Merrill president Union Trust
Company; j. p. Morgan, of j. P. Nor
gan & Co; Seward Prosser, president
Bankers Trust Company; Charles II.
Sabin. president Guaranty Trust Com
pany; Henry Seligman, OF }. & W.
Seligman g. Co.; Frank A. Nanderiip,
president National City Bank; Albert
II. Wiggin, president Chase National
Bank; Robert Winsor, of kidder. Pea
body e. Co., and William Woodward
president Hanover National Bank.
"A syndicate is now being formed,
and il is expected that the three-year
notes will be offered TO the public some
time next week"
These notes will be offered at 98, &C
cording to the statement of one OF the
syndicate managers. IL was also
learned that the holding company has
the option. at the maturity of the notes,
to exchange them for French govern
ment fve-year ; per cent bonds IN
blocks of not less than S2O,OOO,OOO.