Show NEW YORK BANKS WILL TAKE HALF Official al Announcement of ol the New Japanese Loan of Bonds Are A e to Run Twenty Years With Privilege of Redemption in Five Years M EW EV YORK March larch 24 A formal r NEV N L statement regarding the offering I of oC the new Japanese 4 41 per cent loan here bere will wi be made shortly short The price of issue will wi be the th same as asa abroad a road and though nominally a t year bond has the privilege of re redemption redemption dempton at par In five the years ear London March 24 The final details of the Japanese loan were concluded here today toda r with Avith wih the exception of the exact date of or issue This has bas not yet vet bel been decided but it will ivill wU not be de delayed delayed The amount is with wih I interest at 4 per cent The price of the issue is 90 and the security wi will vill willbe be the net receipts receipts of the tobacco mo monopoly monopoly of Japan apan amounting to according to the budget t for the next fiscal year The loan si I 1 be is issued sued sized RUe simultaneously in New Ne S j tk k and London each of these cities 1 king The American Issuing banks ate ale Kuhn Loch Loeb Leb Co and others participating participating in the previous loan while the British half of the loan is handled handle by bythe bythe bythe the group of banks which wh cn was Avas responsible responsible responsible sible for the earlier earler The loan is ia redeemable after five years year Some subscription is expected in Hol Holland Holland land and Switzerland It I is said suid sid here that although h German bunks bunk made every effort to secure participation in inthe inthe Inthe the loan they the r have been rigorously ex ox excluded excluded eluded as Japan found no 10 difficulty in securing securing the amount in New York and London Takashi special Japanese financial commissioner informed the Associated Press today toda r that the 10 would suffice for Japans re requirements requirements for a year or a year and anda a half half at the expiration of or which time in his opinion the war Avar would be over ovel Three New York banks are concerned Kuhn Loeb Leb Co the National City Cl bank and the National Bank of Com Corn Commerce merce M 1 Takashi was as of the Ue opinion that I despite the hitch in the negotiations ne Russia would very shortly shorty obtain an art another another other loan in Prance The Japanese e loan Is lit expected to be issued isue next week week Berlin March 24 The German Germ n banks did not participate in the Japanese loan because they were unable to agree aree with the Shanghai Bank Banking Banking Banking ing corporation over the share share of the underwriters profits |