Peruvian Loan

When a weak sister among the nations (as Peru), who has been obliged to pay 7% and more interest on over $50,000,000, borrowed from stronger sisters (as Peru has done), has opportunity to borrow $50,000,000 at only 6% interest, she hastens to make the new loan. This Peru did last week, by selling $50,000,000 of 6% bonds through J. & W. Seligman & Co., National City Company and their syndicate associates. The Peruvian government has determined to devote at least half of the new money to buying back bonds which carry the higher rates of interest.