The Bridgeport evening farmer., 1916-08-23
=. Finance, Real Estate and Insurance ...
NEW QUARTER
 BILLION LOAN
 OFFERED TODAY
J. P. Morgan & Co. Announce !: Details of Allies Fund.
 Bonds Now on Sale.

Public offering of $25O,00O,00O two
 Scar 5 per cent. secured loan of the United Kingdom of Great Britain and
 Ireland starts today. This is the lsecond largest loan that has ever been made in this country, ranking next
 Ito the $6o0,000.0O0 Anglo-French five (year per cent. loan placed here last
 October. Subscription for the new loan will be received by J. P. Morgan l& Co.,, and the other syndicate mem- tbers at 99 and interest, yielding slight fly over 5k per cent. Subscriptio Books were opened at 10 o'clock today and will close Monday o. fearl1er. in the discretion of the bank fera
 The two-year gold notes, which will fbe dated September 1, 1916. in addi- ktton to being direct obligation of Ethe British Government, are to be se- Toured by deposit with the Farmers fLoan and Trust Co.,, of New York, of
 bonds and stocks having an aggre- gate value of 0O,000,Oo0. If the {pledged securities depreciate in value because of change in market price or [in rates of exchange, the Government fis to deposit additional securities with kthe trust company so that the value
 of the pledged securities shall at all ktimes equal at least 120 per cent. of (the principal amount of the notes Ioutatanding.
 The notes are redeemable on 30 fdays' notice at 101 and interest prior Ito September 1, 1917, and at 10Oh Rthereafter prior to maturity. Tho gov fernment reserves the right to coil for leash any of the pledged securities. and Il- 4f ln hare to be received by the trust com Epany and applied to the retirement tof notes by purchase, if obtainable at eprices not exceeding tthe redemption kprice, and otherwise by lot at the re- kdsmption price.
 1 The $30O,O00,O0O of collateral that Twill be deposited back of the notes is Ito be divided into three groups as fol- Rlows: stocks, bonds or other securities Fof American corporations worth s100,- too0, ,0Oo:. bonds or other obligations kof the Dominion of Canada, either as kmaker or guarantor, and stocks bonds or other securities of the Canadian aPacif1c Railway worth $10O,000,00; and bonds or other obligations of the governments of Argentina, Chile, Nor sway, Sweden, Denmark, Switzerland land, Holland worth another $100,000,- 
 1000.
 ! Pending the arrival and deposit of lthese securities, the British Govern tment is to deposit with the trust com tpany at the time of issue of the notes,
 either approved New York Stock Ex- change collateral of aggregate value ! equal to that of the undelivered se- Ecurities or cash equal to fixe-sixths of such value. The Government is to Ehave the right also to make substitu- Etions of securities in the permanent LcollateraI, but such substitions are not Ito vary the relative amounts in value sof. the three groups at the time held kby the trust company. Valuations of Eoecurities are to be approved by J. P. Morgan & Co.
 1 Principal and interest of the notes twill be payable in United States gold scoin at the office of J. P. Morgan & fCo, without deduction for any Brit fish taxes, present or future. They will Ebe issued in coupon form in $1,000, ts5,0O0 and $10,o00 denominations. tand temporary certificates will be de- 1ivered pending the engraving of the kdefinitive notes. Amounts due on all klotments will be payable in New York kfunds to the order of J. P. Morgan & kCo., thte date of payment to be given lin the notices of allotment.
 l Bankers forming the syndicate (which is making the public offering are as follows: P. Morgan & Co.,, First National Bank, National City Bank, Harris, Forbes & Co.,, Vim. A.
 Esead & Co.,, Brown Brothers & Co.,, kLee, Higginson & Co.,, Kidder, Pea Ebody & Co.,, J. & W. Seligman & Co.,, tGuaranty Trust Co.,, Bankers Trust tCo, Farmers Loan & Trust Co.,, all ,Fcf New York, Central Trust Co.,, of kIIln0is, Chicago, and Union Trust Co.,, kPittsbuFgh.