CHAPTER 1IV 
ANALYSIS OF DOCUMENTARY SOURCES 
The main printed sources of information for an analysis of 
American loans to Germany are: 
1. The agreement between the borrower and the bank; 
2. The indenture between the borrower and the trustee or 
trustees; 
3. The listing application to the New York Stock Exchange; 
4. The prospectus of the loan. 
I. THE AGREEMENT 
The principal legal basis of each loan is, of course, the agree- 
ment or contract between the borrower and the bank or banks 
which furnish the money to the borrower. The agreement, 
which always contains the wording of the bond (debenture, 
note, etc.) and of the coupon and sometimes also a reprint of 
the prospectus (bond circular, sales circular), is a document 
usually not exceeding 10,000 words. Its general content may 
be inferred from the following example: 
Agreement, dated as of July 9, 1925, between the City of Cologne 
and Blair & Co., Inc., and The Chase Securities Corporation 
concerning the Municipal External Loan of 1925 
Definitive Agreement 
Article First — Provisions as to issuance, substance and form of 
bonds 
Article Second — Provisions as to issuance and exchange of tem- 
porary bonds 
Article Third — Provisions as to sinking fund payments and retire- 
ments 
Article Fourth — General default provisions 
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