Business: Loan

Half the $100,000,000 international bond issue on the basis of which the Belgian franc was stabilized last week (see p. 16) was offered in Manhattan by a syndicate headed by the house of Morgan and the Guaranty Trust Co.

The issue, consisting of 30-year 7% bonds was offered at 94 to yield 7½%, and proved so attractive as to be oversubscribed within 30 minutes in Manhattan at prices which rose to 94%.

The non U. S.-half of the $100,000,000 issue was snapped up almost as quickly in London, Paris, Tokyo, Berlin, Amsterdam, Stockholm and...

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