THE ALLIES' LOAN.

Otago Witness, Issue 3212, 6 October 1915, Page 27

THE ALLIE S' LOAN.

LONDON, September 29. The Stock Exchange and financial are relieved that the United States loan has been arranged, bnt are not enthusiastic over the terms. They point out the good bargain the lenders have obtained The interest, with the premium on redemption is 1 per cent, above the British war loan, which is very high, considering the benefits that will accrue to American trade. Moreover, it is doubtful if £100,000,000 will be sufficient, and the terms will be a handicap if another loan is necessary. The Manchester Guardian hotly criticised the fact of the distribution syndicate receiving £1,000,000, and the fact that tho i sue is free from British taxation. It hesitates to believe that the British Government authorised such terms. Instead of France getting the advantage of Great Britain’s better credit, we are suffering from France’s worse credit. The interest is practically 5| per cent., representing a decline from 4£, which will depreciate tho second British war loan to tho extent of £125,000,000, or more than the whole amount received from America. September 30. The financial papers declare that tins Americans have driven a hard bargain. If the loan succeeds in restoring exchange the national gain will be a valuable set-off to the stiff terms, and this is the paramount consideration. GENERAL NEWS. LONDON, September 30. King George, addressing the rvounded men from Loos at Sheffield, said: “We are proud of the splendid way you have been fighting.” Miss Daisy Irving, the actress, had arranged to kiss every recruit in the march through the streets. At the last moment tire War Office forbade it. A report from Amsterdam asserts that the Kaiser is ascertaining the views of the Germanic rulers regarding peace. A telegram from Vienna announces the enrolment of Austrians aged 18 in October and from 43 to 50 in November. AMSTERDAM, September 30. Germany is snplying Austria with munitions, Austria’s stocks being exhausted. COPENHAGEN, September 30. It is reported that the German munition factory at Reinsdorf was blown up on August 23, and that 242 workers were killed and many injured. SYDNEY, September 30. The New South Wales Government proposes to establish an employment bureau for returned soldiers. MELBOURNE, September 30. Preparations for the manufacture of high-explosive shells are progressing, and it is expected to commence shipments to Europe by the end of the year.