The Birmingham age-herald., 1917-06-18
American Mission Spends Day In
 Informal Conference With Russians
SOME GREAT FINANCING
By HOLLAND

New York, June -(special.)- )-Forty millions, at least, and perhaps S5o0oOOOO will be the gift of the people of the metropolitan district, of which New York city is the center, to the Red Cross fund of S1OO, ,0OO,OOO if the expectation of the committee is met The committee, which
 is now in a very systematic and highly organized manner preparing the campaign | for this subscription, is persuaded that not far from one-haf of the entire amount of S100000,OG0 will be obtained in the metropolitan district.
 l The men of large affairs are handling big money matters in a very big way t this time. For, while the Red Cross com mittee is at work soliciting subscriptions for as much as $50, ,O00 GOO of the entire fund of 100000, coo, the finance authorities of the city, and presumably the men of finance, are contemplating an offer of a city loan which certainly will be as much as $5o,000,00O and may amount to $50o0,OO0. Not the amount of the bond offering, but the rate of interest which the bonds are to bear, is the question which has occa- stoned the chief consideration of the sub ject Ought the city to offer 41a or 45s per cent? Whatever the interest offering may be, there appears to be no doubt that the entire bond issue will be easily absorbed
 Therefore, with gift of approximately $5O, ,OO0,O coo to the Red Cross fund, and the purchase of from $50, ,OC0, COO to S75, ,OOO GOO of New York city bonds, supplementing within a few days the hundreds of mil lions which New York has subscribed to the liberty loan, there Is to be considered quick financing involving probably con- siderably over a billion dollars, certainly as much as S1,OO0,00O, which must be done by New York city
 The New York city bonds will probably be absorbed by a syndicate of bankers If France were not now at war, very likely her representative would, as they have done in the past, secure a large amount of this new issue of city bonds for these have been a favorite security for French investor.
 THE NEXT LOAN
 Now that the liberty bond offering is out of the way, there is heard in the fi- nancial district considerable comment although somewhat vague regarding the next loan which the Secretary of the Treasury may offer late in the fall or early in the winter. Tn fact, it frequently happens that when the men of capital or the bankers. were discussing the prog ress of the liberty loan, they also re- ferred to the probability that within few months, perhaps early in 1918, the Secre- tary of the Treasury may make another offering which is likely to be as large as the liberty loan.
 What effect will the absorption of the liberty loan have upon subscriptions to the new loan? This question is frequent ly asked. On the whole, the view is taken that a new loan, even though it be for as much as $200o, 000, 000, will be more easily absorbed than the liberty loan was. One of the reasons given for this view is that the people from their ex perience in investing in the liberty loan, will be able to say to their neighbors and friends who did not invest that the transaction has been highly satisfactory, even as purely business transaction, for