The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-04-25
Italy Next to Share u. 5. Bill
lions for Entente.
First Slice Available From $50
Million Subscribed.
RAISE 500 MILLION MONTH
Future Loans Based on Bond
Issue of 2 Billion.
Seven More of British Commits
sion Arrive i'm L. S. Today.

Washington. April 25.-Secretary
McAdoo today handed the E-itish am
bassador a treasury warrant for s2oo,-
100000, the first loan made TO any
entente government by the Cnlted
States under the $7,000,0OO,OOO wa
finance measure.
Sir Cecil Spring-Ric British am
bassa or, handed to Secretary McAdoo
a receipt on behalf of the British gov
ernment and the transaction was COM
plete The transfer of the big sum
was made in Secretary McAdoos OF
flee in the presence of Lord Cunlllie'
governor of the Bank of England, the
federal reserve board and treasurer
and British embassy officials. The
amount of the loan was deposited TO-
day in the federal reserve banks by
banks subscribing to the $3.50, 0OO, ,0Oo
issue of treasury certlflcateS OF lnuepl-
ednesS due June 80.
The S5O,00O,00O remaining of the
issue will be disposed of in manner
vet to be announced by Secretary NC
Adoo. The loan will take the place OF
a private loan which Great Britain had
contemplated obtaining from j. +.
Morgan & Company on securities OF
the Canadian Pacific railway Ar
rangements looking to the issue by
Morgan & Company had been under
way for some time when Secretary
McAdoo requested that they be de-
ment would meet Great BritainS I'M
mediate needs.
England Saves S3.OOO,OOO u Year. .
Incidentally Great Britain will save
approximately S3,000,000 annually in
interest charges by obtaining the loan
from the government instead of from
private institutions aS the govern
ment'S interest rate will be IL per
cent as compared with a minimum OF
5 per cent on private loan.
Washington, April 25.-Two hun
dred millions of dollars will be loaned
by the United States to Great Britain
probably today, to help finance the
war, and it is likely most of it will
be spent in this country for foodstuffs,
munitions and supplies A similar
loan may be made to Italy soon and
other sums will be credited to Great
Britain or her allies periodically in
the near future as parts of the big
loan authorized by the seven billion
dollars war finance measure.
The first $20O,O0O,000 loan is avail
able from proceeds of the issue of
100000 treasury certificates due
June 80, proceeds from which were to
be called for today by Secretary Nc
Adoo. AS soon as the money is de-
posted in various federal reserve
banks the sum will be transferred to
the credit of the British government
which will give its own bonds as Sc
curity.
Future loans will be based OH United
States bond issues. The first of these
may be for $4,000, 100000 and pro-
ceeds may be collected in four month
ly installments giving $500, 100000 a
month with which to finance American
war needs and loans to the allies.
More War Envoys Arrive.
New York, April 25.-Seven addi-
tional members of the British and one
additional member of the French COM
mittees sent here to confer with Amer
lean officials on the conduct of the
war against Germany arrived at an
American port today on a passenger
liner. The members of the British
party are:
Goodwin. Heron, Longhorn, Leem-
ing, MCGOWAN, Puckle and Vigor.
Captain De Jarny of the French ar
tillery arrived to join the French dele
CATION.