He added at the end that the syndicates of creditors could utilize the news in telegram No. 355, in which the Swedish Government gave notice of the trade and put a sequestration on Russian gold sent to Sweden.

" The business portion of the matter was soon settled and Hayle was thereupon admitted a member of the syndicate for the exploration of the ancient town of Sengkor-Wat in the hinterland of Burmah.

On September 28, formal announcement was made in New York of the terms of an American loan to Great Britain and France, arranged by a commission of British and French financial authorities after conferences with American bankers; a bond issue of $500,000,000 was soon floated, drawing 5 per cent interest and issued to the syndicate at 96; the money to remain in the United States and to be used only in payment for commodities.

But the old man was anxious to hear from Goslin what had occurred at the urgent meeting of the secret syndicate in Paris.

There followed a convention of the draftsmen and engineers of the Robinson-Ray Syndicate before which an unknown American youth delivered an address on "Cyanide Tanks.

* In connection with the offers for Drury Lane Theatre it appears that one of the would-be purchasers declares that he was more syndicate than sinning.

My clients, the owners, are well-known gentlemen of wealth and position in California, and not irresponsible land speculators, members of a syndicate with an unknown personality.