Financial Notes
(Continued from page 1027)
REPARATIONS LOAN.
Not the least interesting feature of the past ten days has been the long expected flotation of the international Repara- tions Loan. The entire amount, as I have explained on a previous occasion, was for the equivalent of something like £60,000,000, of which £12,000,000 was placed in London in 5f per cents at 90 and the balance in various centres, France and the United States taking something like £20,000,000 in each case. The -applications at all centres were said to have been on a thoroughly satisfactory scale, and certainly ample preparation had been made in advance. Nevertheless, the fact remains that so far as this market was concerned, although the Loan was understood to be twice covered, it has since fallen to a discount, a circumstance no doubt largely connected with the general conditions of financial depression.
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