The Bridgeport evening farmer., 1916-07-19
=. Finance, Real Estate Insurance (.
FRANCE WANTS
 s1oo,oOo,o0O
Bankers Headed by Morgan l. & Co.,, Form Corpo- ration.

, Subscription books will be opened F.. Morgan & Go. for $s4,500,00 three tyear s per cent. gold notes of the American Foreign Securities Co.,, se- cured by deposit by the French gov ernment. of securities of neutral coun- tries having an approximate market valueaof ' 11t3:500, ,000.- Offering price of thej notes is 9S and interest, to yield abouti5 .735 per cent
 TheSAmerican Foreign Securities Co.,. has baen organized with a capital of tte, ,oo0 .00O presently to be paid in at )paf in leash. It has arranged to lend {<100, ,00O, 900 to the government of the French Republic. for which it is to
 hold the obligation of the French 5government to repay the principal in three years, together with interest at . rate more than sufficient to cover the interest on the company's note is- gue.
 This |. is the second largest foreign kloan to be offered in this market, be- Ting next in size to the $500,000,000 \ HAngro-French A issue. It Is the first xforeign loan. however. offered publicly kthst has had collateral security back eok it.
 ' In cqnnection. with this loan the scfmpanS yto recetSe from the French Rgbvernme&k securities having q tvalue, 6c&lculated at prevailing markets and existing exchange rates, of $120, ,000.- 2O0o; and the French government Easreee from time to time to pledge Additional securities so. that the calcu- Plated value of the collateral shall be K>I~ fr, M y1xa kprincipal of the loan. Of these se- kcurities the company is to pledge with fthe BankerS Trust Co.,, under a col- S1ateral indenture, as security for its {notes, obligations of foreign govern fmsnts, <and other securities as fol- iows:
 iGovernment of Argentina 2o,5o0,oo0 lGovernment of Sweden S.725,000 fGovernment of Norway 3.290,000 5 SGovernment of Denmark 6,3so.oo0 kGOvernment of Switzerland 12,0S0.000 eGovernmenr of Holland 1.475,000 EGoyernment of Uruguay 3,443,000 fGovernment of Egypt 20,200.000 fGovernment of Brazil
 l(funding loan) 1,181, 900 Government of Spain 12.600,000 Government of Spain guar
 .anteed R. R. bonds 5000, 900 tProvince of Quebec 5000 f6uex Canal Company shares 11,600.000 EAmerican Corporate Issues 3,700.O00
 Total, s113.449.0 900 X The company agrees also to pledge E0nder the collateral indenture all additional securities received from the fFrench government under its agree ment to maintain the 20 per cent. margin above referred to.
 { For the sake of convenience in col k1ect5on. the coupons and rights for in fterest and dividends maturing on or Fbefore August 1. 1919, are to be de- Efached and held for the account of the kcompany by depositaries in France. EAs provided in the collateral inden- 9ture, substitutions may be made in the fabove list of collateral by the deposit kof securities determined to be of equal kvalue, but (except with the joint con- fsent of J. P. Morgan & Go. and Brown EBrothers & Co.) in no case may the value of the obligations of any one of the above governments be reduced Rmore than 50 per cent, nor is the ag- gregate value of the obligatioQs of any < one soAeFnheht q or any other issue f of securities to be increased through beuch substitution to more than 20 per cent. of the aggregate value of the fcollateral. Pending the deposit of the Ecol1ateral the trustee will hold cash Eequal to the face amount of the notes. kreleasng the cash from time to time j4o an amount equal to five-sixths of kthe svaluea5f Ythe collateral. deposited kwtth the trustee.
 The three-year 5 per cent. notes are
 La kto redemption in whole or part on any Interest date at the following prices: sTebruary 1, 1917. at '1A1 1-2; August "a, 1917, and February 1, 1918. at 101 Ion August 1, 1918 and February. |, t191s, at 100 1-2. They are in cou- tpon form in denominations of $100. Fs1, ,0oo. .-s6.oeo- and s1o,o0o. Principal land interest is payable in United States kxold coin wfthou deduction for any kfaxes, present or future, except Feder-
 aI income tax. Application will be
 made for listing the notes on the New
 Nork Stock Exchange.
 Subscription books will be closed at
 H0 o'clock, Monday, July 24, or earlier, fan the discretion of the syndicate man. lagers; and the right is reserved to re-
 lejct any and all applications and also.
 lin any case, to award a smaller
 amount than applied for. Amounts
 due on allotments will be payable in
 lNew York funds to the order of J. P.
 fMorgan & Co.,, date of payment to be fgiven in notices of allotments.
 The banking syndicate which is imaixing the public offering of the notes
 hs. composed of J. P. Morgan & Co.
 Brown Bros. & Co.,, Harris. Forbes & Co, Wm. A. Read & Co.,, Kidder. Pea.
 hbody K& Co.,, Lee, HfEginson & Co.
 !First National Bank, N. Y., Nationa
 City Bank, N. Y., J. & W. Seligman & tCo.. Chase National Bank, N. Y., Ma
 tional Bank of Commerce, N. r., Han- over National Bank. N. Y., Bankers kTrust Co.,. N. Y., Guaranty Trust Go.
 lN. Y.. Farmers Loan & Trust O., N
 tY., Union Trust Co.,, N. Y., Mellon Ma.
 itional Bank, Pittsburgh, Commercial
 Trust Co.,. Philadelphia, Central Trust
 Co.2o of Illinois, Chicago and First Ma.
 tional Bank. St Paul
 Cost State $17,647
 To Send Out Troops