Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-12-20
LARGE FOREIGN LOANS
MATURE DURING 1919

During the year 1919 a larger
amount of foreign loans made in the
United States will mature than ever
before in a like period.
Loans to foreign governments have
been safe and profitable investments
in the matter of the nations in the
entente, but many German and Rus
sian loans may develop a portion of
losses, just to what an extent time
will tell
February / the United Kingdom and
Great Britain and Ireland 5AS, $142,-
100000, two-year notes, mature, but
as they are convertible into . Us due
1887. they will probably be converted:
The first maturity on account of
foreign loans. will be s55O.000 City
of Sac Paulo IS, due January 1. In
April. S1O0.000.000 French republic
two-year 512-per cent notes will ma
ture. June Is, the Russian three-year
amount of s50,0O0,oOe. mature; July l,
S5.000,000 Newfoundland three-year
gold 5-per cents will be due. In Au
gust. 1914, 100000 American foreign Sc
curities three-year Us will be pay
able. and s100.O00.000 Canadian two
year per cents will be paid off.
In November maturities aggreSat-
ing s114,000,000 are payable, including
United Kingdom three-year notes,
bearing Sic per cent interest; S12,-
100000 City of BurdeauX IS, and like
amount for the cities of Lyons and
Marseille, with S5.C00,00O Republic of
China three-year notes at 5 per cent.
These credits were the means of build
ing up our great business soon after the
declaration of the war, when our cap
tainS of industry discovered that the
war did not mean shutdowns but in
ir,Il trio 1lN-
material part of the maturing
loans will be extended. Collateral and
interest rates for the loans are very
acceptable and no difficulty will be
found in extensions, even in the case
of Russia and Germany, where de-
mands for extension will be granted.
Bankers see in foreign loans an OPP
portunity for further extension of
credit. which the nations of Europe
will sadly need in the reconstruction
period-better. in fact, than the ac-
emulation of general securities as
the basis of credit extension.
Liberty Bond Sales.
A total of $685., 900 liberty bonds
of the various issues sold on the New
York stock exchange yesterday.
Of this large amount the fourth
AIS furnished sS.030,000 and the
third AIS. S4,OO4,0O0, while the first
rs sold to the extent of $4,000;
the first As to total of but $4,000.
the second As to 1881, 200 and the first
AIS to $4,000.
The small sales of the first and
second As would seem to indicate
that a comparatively small amount
of the issue remained unconverted
after November 9, the final date of
conversion.
The pressure on the various issues
continued today.
On the Stock Exchange.
Today's session of the local stock
exchange developed 4 fair demand
for bonds, but no sales were made
of Washington Gas IS. the bid price
being 9SA and the asking figure 991a.
Washington Railway general IS
sold at 96A to 81; Chesapeake and
Potomac Telephone IS at sc and
Potomac Electrical general IS at 81 u.
Stocks were extremely slow. A few
shares of Washington Gas at So and
of Mercy at 1874 completing the
record.
Maj. Guy T. Scott has been mus
tered out of the Army, and will soon
resume his duties as active vice presi-
dent of the Continental Trust Com
pany.