The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-20
VIEWS OF F|NANC|ERS.
America to Become a Great
Money Lending Power.
RATES ARE LOWEST HERE
The United States Is Accommodating
Money Twice as Fast Is Any
Other Country-Russian
Report Confirmed.

Chicago. Dec. ia number Of Chi
Gag bankers and financiers Ia been
interviewed in relation to the reported
application of one of the European pow
ers for a heavy loan in the United
States. Charles Lombard. president Of
the First National bank, said:
II hardly think this country will
make a loan to Russia. at least not a
large amount. There is plenty of money
here. but there Is not enough to war
rant a large foreign loan. Rates are
about as low now as anywhere at pres
emit"
Ernest A.. Hamilton. president of the
Corn Exchange National bank, said:
There Is no question but that this
country Is becoming so rich that its
surplus money will seek investment
abroad. The balance I'm its favor are
growing larger. ard IL is accommodating
at a rate that is unprecedented. ron
s~equently IL IL easier than elsewhere.
For this reason. though the proposition
Of making a loan to a foreign govern
ment Is Unprecedented In this country,
seems natural and altogether probable.
In case such a loan is made Chicago
is in a position to provide a consider
able sum of it,"
There is no doubt but that II Russia
wants a loan this would be the natural
place to seek it," said J. b. Forman,
vice president of the American Ma
tional bank. THE call money market
at present is the easiest in the world.
The New York bank last week added
SO, 900. 900 to their accumulated surplus
and the Chicago banks $1,000, 900. Some
of the Mexican states are now taking
steps to borrow in this country. i have
no knowledge beyond the newspaper
reports that Russia is about to secure
a loan anywhere. and comment on the
probability of the truth of that report
would be mere conjecture
John c. Black, president of the Con-
tinental National bank, said:
1T is as sure to come as tomorrow
that America will become a great
money lending nation, Xix England and
the greater nations of the old world. The
United States is accommodating wealth
twice as fast as any other country. IL
would occasion no surprise should II be
reported that Russia was seeking a loan
in England or France, and should not
in the case of this report that Russia
may seek a loan in America"
Charles l.. Hutchinson, vice president
of the Corn Exchange National bank.
said:
The report that Russia is seeking a
loan in this country may be true. but
II seems to me to be improbable. AT
least such a move Is unprecedented.
The mere starting of such a report in
dicates a change in the financial status
OF this country among the nations OF
the world"
Elbridge G. Keither. president of the
Metropolitan National bank, said:
THE idea of the United States making
a loan to Russia does not seem prob
able. chiefly because American finan-
zNl-a 80 not NKvall nnnnuUh fa1
with conditions in Russia to warrant
them in meeting u a proposition
without a great deal of caution. The
financial relations rave not been close
between the two countries, and the mat
ter would appear i'm a different light II
England or Germany, or France or Bel
gium or any of the countries with which
we have a large trade. should seek TO
make the loan. Then, too, specie pay
ment in Russia is a new thing. and
there would be a question as to the sta
bility of conditions there. But America
now has a large surplus TO it's credit,
due to temporary conditions, largely in
its favor, such as increased exports and
large foreign credit balances. But this
country has lots of use for it's own
money in developing its own industries
and resources, and though there is
much money abroad IL does not seem
probable that American capital would
seek investment in any large sums in
Russia"
Chauncey NJ. Blair. president of the
Merchants National bank, said:
II know nothing about conditions in
Russia or the probability Of that cou1
try trying to negotiate a government
loan in America, but the conditions OF
the money market there are such as
to make the story credible"
John ]. Mitchell. president of the Illi-
nols Trust and Savings bank. who has
Just returned from New York. said:
1T is true that Russia Japan are
in communication with leading fnar-
ciers I'm this country with a view to
floating loans Two weeks ago i was
communicated with concerning the pro-
ject by a person of high authority, and
am to hear Of this man further. A
prominent Boston house and prominent
New York house hav been considering
the matter for two weeks. The Russian
loan is for the Russian railway, guar
anteed by the Russian government. and
Is asked at 3R per cent. 1t Is not espe-
cially surprising that they came to this
country, for the United States is the
cheapest money market in the world at