New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-02
$1OO,OOO,0OO To Be Sent
Each Nation at Once,
McAdoo Says
Treasury to Ask
Further Funds
$200,000,000 Issue Of Ger
tihcates Is Likely
Immediately

Washington, May THE amount Of
the first loans to France and Italy. Sec
rrtary McAdoo announced tonight.
viii be 500 600 each. They will be
made Immediately TO meet the require
mcnts Of those countries IN May. The
first instalmcrt about S25.0O0,000 OF
the Italian loan probably viii he made
tomorrow.
\ loan 20 Russia also will be made.
Nh McAdoo stated. and the loan 10
Belgium is under consideration.
Announcement of the first Offering Of
bonds under the WAY finance law. MI
McAdoo said has been delayed because
the needs OF the Allied governments
have no, yet been sufficiently developed
to form a final programme. Announce
mcnt concerning them is expected be
fore the end Of tn" week.
Serbia Asks Loan
Serbia mas made application for a
loan. and that application is under con-
sideratiou
There Will be no disposition on the
part o. the government 20 question the
ability Of smaller nations TO meet the
promises to repay the sums loaned
them. The money viii be placed where
il IS believed viii be most effective M
fighting Germany Whether II will be
repaid By the smaller nations to whom
loans are advanced u.s. As one Official eN-
pressed il tonight. "a chance We VIII
have 10 take in our fight for dcmoc-
racy."
At the same time. it was pointed out
thai the American government would
in large degree aid the nations 70
whom loans arc made I'm the Wlsc cN-
penditurc Of the funds placed al their
disposal. There is no stipulation that
the money is to he spent in this coun-
try. but with every other great world
market closed there will be little choice
as to where IL viii be spent.
Departments Of the government other
than the Treasury will be called into
service 10 aid the Allies i'm spending
their loans wisely here.
To Offer More Certificates
The expected announcement that an
other block Of Treasury certificates
would be offered through the Federal
Reserve banks also was made By Secre-
tarv McAdoo tonight. The OFFER VIII
be made at once. The certificates VIII
mature July Il, viii bear 3 per cent an
tcrests and 7-Hni be. convertible INTO
bonds TIT. size Of the offering was
t,e,sa,f.l tsneNd -; bFntE il is Understood
ina. & will 'approximtt $200,000,000.
II was intimatcd also that Mr.. Nc
Adoo would adopt the suggestion Of the
Federal Reserve Board that BLOCKS OF
certificates be offered every two weeks
during May and June SO as TO case the
strain which might result upon the
money markets from Withdrawing at
once a huge sum Of money for sub
scrirtions 10 the big bond issue.
Should this programme DC adopted,
at least Sl. 400. 600. 600 would be obtained
BIZ the issue Of Treasury certificates
prior to June 80. The sum may reach
$500, 100000.
Big Sums Advanced
Indications are that the United States
will have advanced the Allies approx
mately Sl.250,0OO,O00 before the pro-
ceeds Of the first Offering OF bonds are
available.
Details Of the proposed loan TO Rus
sia have not yet been placed in definite
form. nor has an approximate date for
the making Of tho loan been deter
mined. Charge 3'AfsTes UnuO spent
more than an hour to-day in outlining
the needs Of his government to Treas
urv officials and will confer with them
again before announcement g. TO the
amount Of the Russian loan is made