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V 380
THE AFATHERLAND
“iisrmr arrears recur"
. But the latest wonderful achievement of Germany!
The arrival of the first commercialisubmarine-boat
is an exception, and is'of the greatest importance as
regards the conduct of the VVar as well as in the
commercial relations between Germany and the
United States! -The resumption of the export trade
to America must have as a consequence a rise in
Mark and Kronen and prices for the
[WAR AND WEUNCPAE. LOANS
OF THE CENTRAL POWERS
Our oflers still present an opportunity to secure these high-grade
investment securities at favorable prices, and we recommend the
prospective buyers to inquire regarding quotations and other par-
ticulars. Any information desired will be promptly and gladly given.
ZIl‘all’alERl'i’llil‘ll‘l 8: EORSHAY
ESTABLISHED 1872
Members of the New York Stock Exchange
9-" Wall Street, Hew York ‘ Branch; Be.-un
WAR LOANS or THE CENTRAL Powans
We be; to announce that, subject to change with or without notice, we will accept subscriptions to:the
IMPERIAL GERMAN GOVERNMENT 5% BONDS
wvmrz. LOAN
-at the rate of $190.00 for each 1,000 Marks
Interest beginning July 13!:
IMPERIAL GERMAN GOVERNMENT 455%
TREASURY NOTES
FOURTH GERMAN WAR LOAN .
Redeemable at par in ten annnalaerin. bttirlnlnc July, 1923
at the rate of $186.50 for each 1,000 Marks
Interest beginning July 1st
AUSTRIAN GOVERNMENT 5%% BONDS
FOURTH AUSTRIAN WAR LOAN
Redeemable at nor from 1922 to 1958
at the rate of $130.00 for each 115,000 Kronen
Interest beginning June 1st, 19
HUNGARIAN GOVERNMENT 6% BONDS
FOURTH HUNGARIAN WAR LOAN I
Not callable before 1921
at the rate of $135.00 per 1,000 Kronen
Interest beginning May Ist, 1916
Further particulars on application.
TRANSATLANTIC. TRUST COMPANY
‘ 67 WILLIAM STREET, NEW YORK
The East Side Branch of the TRANSATLANTIC TRUST COMPANY at
. T09 Avenue A, car. 7th Streat,is open everyweekday until eight o'clock m,
my -r
When Answering Advertisements Please Mention Tm: FA-mm, A
iinancial
‘ Forum
Any reader wishing ad-
’ 1 vice or inronnatlan regard-
ing his securities or pro
Ipectlve lnvenrnents.
address Financial Editor
Fallvnland, 1123 Broadway,
New York. All inquiries
oonndentlnl. All advice
free. Those who prcltr
not to have replies publish-
ed under initials. please
mention fact In writing.
THE Guaranty Trust‘ Company, chief
instigator of me Russian $50,000,000
loan under the direction of J. Picrpqnt
Morgan 8.: Company, in order to float its
foreign war issues, publishes an interest-
mg and instructive table in the news-
papers which, by reason of the sop of big
advertising contracts, dare not criticize
the peculiar nature of many of such flota-
trons.
Under the heading of “Forei n Gov-
ernment Obligations," the uaranty
Trust offers the following:
Yield
about
6.15%
Rate
Anglo-French" External Loan 5% “
Argentine Government ..... 6% 5.70%
Swiss Government . . . . . . . . . . 5% 5%
These figures are very instructive. We
see here that the credits of Switzerland
and the Argentine Government are very
much higher than those of England and
France combined. What? Is it possible?
These two small countries may obtain
money in the open markets of the world
at rates cheaper than the great British
Empire and the French Republic, whose
financial resources in the past were rated
50 hiszh? Here is the true test of solven-
C)’, These figures are being published by’
this pro-Ally firm, at the time ‘oh the
“great Allied drive," when the publicit
agents of both countries, combining wit
the pro-Ally subsidized organs in the
United States, are doing their utmost I0
squeeze out for :1 few days even the sem-
blance of an Allied success. But it must
3I>D8.3r then that investors have grown
cautious about "Allied victories." The)’
have too often in the past proved of the
most illusory nature.
THE MAIL BOX
C- Rn San Francisco, Cal.-While the
losses of the Metropolitan Life Compan)’
have been heavy as a result of insuring
Canadian soldiers, I cannot say that,tl1C“’
financial standing has been impairs
through their injudicious action. The
Metropolitan is now recouping “.59”
lhfoutzh charging a high war premium
on policies of American soldiers going l"
the Mexican border. It insured C3113‘
B6-D BREATH
is frequently caused by Sour Stomach. Heart-
Inn. or other forms of lndigestion. One (1090
of Bisodol, which is the result of learn of
careful study by a celebrated German Cbemill.
. will give you prompt relief.
Send 25 cents today for a box. Money had:
ifitdoesnotdoallwadaimforit.
BISODOL COMPANY
I949 Broadway ‘ lnewvork cm
rm i’
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