AMERICAN NEWS

Lyttelton Times, Volume CXVII, Issue 17250, 18 August 1916, Page 8

AMERICAN NEWS

NEW EESTJSH LOAN.

BRITAIN ASKS FOR £50,000.000

■Australian ami N.Z. Cab’s Association. NEW YORK, August 16. A new British loan is announced of 250.000.000 dollars for two years at 5 per cent.

DETAILS OF THE LOAN

foreign bonds and stocks

AS SECURITY

NEW YORK, August 16

Messrs J. P. Morgan and Co. announce details of the loan dated September 1. Great Britain wall have the option to redeem tho whole or part at

thirty days’ notice at a half per cent, plus accrued interest, until August 31, 1917, and thereafter at £IOO 10s. Securities for 300,000,000 dollars must be approved by Messrs Morgan._ It is understood that the loan is chiefly to steady tho rate of exchange. Tho British loan notes shortly will bo offered to tho public at 99 plus interest. British taxes will not be assessed against tho notes. The securities consist of three groups of bonds and stocks—American < orporations, Canadian Government bonds and Canadian Pacific Railway bonds, and bonds and other obligations of specified neutral Powers. In each case tho bonds must be of the total value of a hundred million dollars, and the astrregate market value must be at least 20 per cent in excess of tho face value of tho loan.

LOANS TO OTHER POWERS.

THE WAR AND AMERICA

United Service. (Received August 17, 7.30 p.m.)

NEW YORK, August 17

Since the war foreign Governments havo raised £270,000,000 in tho United States, of which £200,000,000 was for belligerents, £110,000.000 being for Britain.

POISONING STOCK.

MORE GERMAN PLOTS

Reuter’e T*l«gr»m#. (Received August 17, 11.5 p.m.) NEW YORK, August 17

Investigation of a plot to poison horses consigned to Britain from lowa shows a widespread attempt by German agents to kill live stock consigned to the Allies.