| Show NEW LOAN TO RUSSIA cat cwt of war fop the first five month MM been paris may 6 an authoritative statement was given to the associated frees today from tho highest government concerning the details and of the new loan ae follows the situation been much changed since your interview with M slice gislas de Rout kowsky the russian financial agent in london april 23 the conditions today on which the loan a based are as follows the cost of the war for the first five months up to june 1 including for railroad equipment ie after june ast 1st the monthly cost of the war will be for tho navy and tor charmy lh army at the front making the tota expenses about for the year closing january 1 next the first part of the more expensive than the latter owene to the cost of mobilization and the general expenses incident to betting the ministry of war in motion against these extraordinary expenses we may have certain economies namely on the ordinary budget on the ex budget and on previous budgets making the tota economies when the war began the russian government had between and to its credit in tho bank of russia and with foreign bankers according to the monetary law of 1897 which made gold the standard tor russia there was a stock of gold amounting to and a note issue of therefore russia could still have placed in circulation cu lation to n notes without impairing the slightest the gold law of 1897 however by so doing the monetary situation after the war might have been less satisfactory than at present accordingly the russian government has lent a favorable car to the proposals made by french bankers and has opened negotiations tiati ons at st petersburg with joa of the ahonso co and with one of the directors of the bangue de paris et des pays bas they have made two visits tp st petersburg and aro leaving there tomorrow for paris the purpose of their visit is to negotiate the issue of treasury bonds running five ears at five per cent these are going to be offered to customers of the big french financial houses at near par by so doing the russian government reserves the right after five years to make use of its internal credit to convert or these alve year bonds alno a funded debt bearing a lower rate of interest the amount likely to be taken up at once in parts will be and the lesue can go up to already the contracting arc sure to place the full amount they underwrite among their customers there fore no public issuance ie to bo maile and the public subscription at a fixed day will be dispensed with the easue being sold by bankers privately the foregoing differs froni other re porta concerning the t of the loan but awing to the authoritative source it can be accepted as final it Is understood that the terms wl il be signed before M and tomorrow or thereafter the signing by french banks will tako place next week the issuance of th loan following immediately |
