FINANCE.

Feilding Star, Volume XII, Issue 3023, 18 August 1916, Page 2

FINANCE.

AMERICA AiS MONEYLENDER

New York, August 17

Since the war, foreign Gvoernments have raised 270 million sterling in the United States, of which £200,000,000 has been for belligerents and £110,----000,000 for Britain.

United States steel, which fell to 38 in 1915, to-day reached 91, the highest since 1910.

Further details' of the new American loan to tbe British Government state: The notes will shortly be offered to the nublic at 99, plus interest. rßitish taxes will not be assessed against the notes. The securities consist of three groups—the bonds and stocks of American corporations, Canadian Government bonds, and Canadian Pacific Railway bonds, and the bonds and other obligations of •specified neutral Powers. In each case the bonds must have a total value of a hundred, million dollars, and the aggregate market value must be at least 20 per cent, in excess of the face value of the loan.

NEAV RUSSIAN LOAN. (Received August 18, 9.30 a.m.) New York, August 17. New York bankers expect a new loan for Russia shortly. The New York Herald considers that the British loan should find immediate favour with investors. The AVorld says that since the .beginning of 1910 the United States has sold abroad 2,872,000,000 dollars' worth of merchandise, which has more than brought the national debt to less than half the pre-war figure.