Business: A Popular Loan

Undoubtedly the financial "event" of the past week has been the long-awaited German external loan, $110,000,000 of which, bearing a 7% coupon, was offered for subscription at 92 by a huge syndicate headed by J. P. Morgan & Co.

There had been considerable doubt as to just how the public would take a loan from a recent enemy nation. This was, however, entirely dissipated by the trend of events. The German loan "went across big." So thoroughly had the syndicate done its work, and so attractive did the offering appear to U. S....

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