2 OCTOBER 1915, Page 15

As in the case of our own War Loans, bonds

of small amounts—i.e., 100 dollars—will be issued, and subscribers will be allowed to make payment by instalments. Finally, the syndicate formed to take up the whole issue will include as many elements as possible from all parts of the country, all being on the same footing in regard to commission and profit as Messrs. Morgan and the central group acting with them. We deal with the bearings of the Loan on the American exchange in another column. Here we may content ourselves with congratulating the Anglo- French Commission on successfully completing their negotia- tions in the face of the persistent and determined opposition of the pro-German element in the States.