The New York herald., 1921-05-17
OVER $2OO,OOO,OOO
FINANCING COMING
Newfoundland, Duquesne Light
and Semi-GOvernment
Issues This Week.
STATE ASKS FOR TENDERS
New York Flotations Will To-
tai S41, 800, ,OO0-France Is
Discussing Issue.

New financing exceeding $500. 100000
Il scheduled for contamination and dis
tribution during tho next twenty-five
days. Six items. agsregatins S2o1.soo.-
900. are In q state Of active discussion
Tho first 70 Be offered appears to-day
and is N.s0.ooo OF the Government
Of Newfoundland fifteen year 81
per cent. gold bonds. put out st
saK. approximately q 7D per cent
basis. by Dillon. Read d Co. and
Lee. Higginson 1 Co. The next two.
scheduled for tomorrow or Thursday.
are the 310.oo0.ooo Duquesne Light issue
by q syndicate headed by Harris. Forbes
4 Co. and . semi mi-Government issue for
about a25.oo0.o 900.
Should present expectations be carried
out there win be offered within q week
another Government Issue Of 1t least
$40. 5000 and probably $25.00o.o00 to
ernmsnt which has not been mentioned
as q candidate for funds in this market.
Tho State Of New York has requested
tenders on June . for new issues aggre-
eating $41.s00.000 and two or more
groups were formed yesterday TO con-
slider the question Of submitting bids for
tho new bonds.
The largest issue now in the works Is
the 800. 100000 French Government Is
sue. about which there have been con-
versations which may result in COM
pleted negotiations IN few weeks. The
increasing activity IN connection with
those now financing negotiations follows
the success Of the Dillon Road syndicate
In getting yesterday a heavy oversub-
scrfption to $26. .000.0 900 Of United States
OF Brazil s per cent. bonds. the books
remaining open only forty-five minutes
and the dealers estimating that the 10
sue was at least twice subscribed 20.
Although cables from Paris asserted
that the French Government had con-
cluded negotiations In this market for a
| 500. 100000 ISSUE Il was stated at the
offices OF J. p. Morgan & Co that the
firm had no confirmation of such a re-
port II was admitted that Dwight w
Morrow when abroad had talked with
the French Government about a loar
| and that Thomas w. Lamont who u
abroad, also had entered into the dis
| the conversations could be dignified WITT
| the term negotiation and that any con-
illusions had been reached.
On the other hand. 1t was learned
| elsewhere that the situation hangs or
! two Developments: First. the settlement
of the Silesian questions. and. second
the return TO this country OF Maurics
| Casenave. scheduled for the last week
! Of this month. M. Casenaye, It Will bs
| recalled, put the finishing touches or
preceding loan negotiations. France
has paid Off some &z15 100000 OF obliga'
tions in this market in tho last few
! months and like amount elsewhere
! The American repayments include $780,
| 10000 Of tho Anglo-French loan ant
| a reduction Of tB 900 900 Of French Treas
| ury bills outstanding In this market
II was stated also at the offices oi
l. J. p. Morgan q Co. that French ex
ports have exceeded imports during thu
last three months. and attention wal
called to the rise In exchange on Parii
| from its low point below cents e
| a mark close to cents. On October
| n, 1870. French Treasury bills outstand
ing were s74.+45.Oo0; two weeks ago the
amount outstanding was es.S40.ooo