The Committee of the group of banks which act as
financial agents for the German Imperial and the Prussian Govern- ments met on Tuesday to ascertain the amount of the sub- scriptions to the new loans of 232,500,000. Contrary to all precedent, the amount subscribed was not announced. The
Times correspondent mentions some of the unofficial estimates of the amount, the highest of them -being 245,000,000. Even if the Most gratifying estimate is correct, the subscription is a remarkable falling away from the loan of a year ago, when an issue of 215,000,000 worth of Treasury bonds at 4 per cent. attracted an offer of nearly 2675,000,000. The most definite statement of the amount subscribed comes from the Vossische Zeitung, which puts it at 235,500,000, and confirms the rumour that 25,000,000 is being held back, apparently because some of the subscriptions were not serious. It is said that very little money was offered from Britain and France. It becomes increasingly clear that German statesmanship will have to grapple with the whole question of Imperial finance. The German Bourse is baffled by the policy of secrecy, which, we should think, would defeat its own ends, and cause anxiety and an unsettled spirit.
Previous page
