City Gets $57,000,000 Short-Term Loan At 1 3/8 and 1 %, the Lowest on Record
New York City borrowed $57,000,000 in Wall Street yesterday at the lowest interest cost in its history. The city obtained a loan of $51,000,000 for three months at the annual rate of 1 3/8 per cent and $6,000,000 for four months at an annual rate of 1 per cent.