Cables from Montevideo raid that the
Government or Uruguay had announced
that a syndicate of New York bankers
had granted a loan of ?25.00(%?W In
twenty yenr 8 per cent, bonds, but no
banking group was found that would ad
mit such progress in negotiations with
Pruguay. The subject of a loan to
Uruguav had been considered by the so
called South American group and dis
missed from immediate consideration.
Tpo eroirp which participated in n
Sao Paulo offering said that it had no
statem' nt to make regard'ng negot a
tion^ with Uruguay. In bunking: rlrciM
in dose touch with Internationsl flnanc-.
irur the authenticity of the cable from
Montevi leo was doubted. The preaent. j
it is said, is not propitious for loans to
South America. !
?Syndicate Closed.
The managers of the syndicate which
The manaK' iB "?
ofTcr'-d $10,000,000 of Sao Paulo bonds j
In this market sent out yeaterdsy tele
grams terminating the life of the svndh.
rate and announ. Ing that the nnanelng
I ad been a complete success. Several j
! weeks were p'lit In marketing the bond.
| *h'ch are declared W have been well ,
plaee.1 and yesterday's market, the.
1 (ird without imppmt from
ma le by the syndicate, the bonds
I "old .it ' . roiot mmc than their offering
1 price.
Offer llln de Janeiro I.onn.
