(By W. U.Toloeraph.) THE .KW LOAN. New York, 2, Telegraphic advices received here from Europe indicate that the offerings for tho new five per cent, funded loan of the United States will be in excess of the amount advertised adver-tised for sajo; part of the loan, how-over, how-over, having been reserved for sale in this country. The treasury department depart-ment has received numorous applica? lions and letters of inquiry from tho national banks showing a general disposition dis-position to exchaoge tho present securities se-curities in the treasury for the new fives. This action is precipitated by the fact that the loan ib open for subscription sub-scription but for a short timo, and further by the fact that other issues are authorized to bear only four and four and a half por oont. interest.