Loan

All week long negotiations proceeded between Dr. Hjalmar Schacht, President of the Reichsbank, Dr. Hans Luther, German Finance Minister, and U. S., British and Continental bankers regarding the flotation of the $200,000,000 loan to be made Germany under the terms of the Experts' Plan.

It was expected that $100,000,000 of the loan would be placed in the U. S., $70,000,000 in Britain and the remainder on the Continent. Final terms were not published.

On one ground or another, hostility to the loan was evinced in London and Paris; and rumors were spread that the loan might not be successful. In plain point of fact, the loan is certain to be successful if for no other reason than that J. P. Morgan and British bankers have endorsed it. Probably it will be oversubscribed.