Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-12-19
RUSSIAN RAILWAY LOAN
UNCLE SAN HAS MONEY 10 LEND.
Interview. with Leading BANKERS Develop
the fact that cash u LasJ 10 TIE
United -tste.

Chicago, Dec. IA number Of Chica.
20 bankers and nnancicra have been In.
tervlow In relation to the reported ap.
plicatlon Of one OF the European pow.
vrs for heavy loan In the United
States.
Isaac O. Lombard. president ~ the
American National Bank sald3
Il hardly think that this country will
make a loan 10 Russia. al least not a
large one. There Is surplus money here.
bus not enough 60 warrant u large ra-
tioual foreign loan. America has made
many foreign lotns. but not O. govern.
meuts Rates here are about as low a.
anywhere at present"
Ernest \. uamln. president OF the
Colu Exchange National Bank said:
There Is no question but that this
country ~ becoming fu rich that IL
surplus money VIII seek Investment
abroad Tho balances lu ~ favor are
growing larger. and 10 On accountant
Ing wealth at rate that iH unpfccn.
denied. Money. consequently. la easier
her than elsewhere, FNIf this reason.
though the proposition ~ maklnE ~ loan
o. forclgn government n unprccc.
dentc1 In this country u seems natural
and altogether probable. In case such
n loan Dr. made Chicago On In position
o. provide considerable sum ~ e."
"'rheto Ia no doubt hut that n Russia
wants "a loan, this would De- the natural
place 90 sock o." said 7 H. Farrnn. vice
president ~ the First Nationnl bank.
''The American money market ~ pros.
ont la the easiest no the world The
New York banks last week added so.
100000 n their accumulated surplus ana
the Chicago banks si.oolooQ. Some ~
the Mexican states nra now taflnr
/ atoms d. AtFFNM la fhIH committee 4 AuW..
10 knowledge beyond the newspaper re-
ports that Russia Nv about 90 secure n
the truth ~ that report would
loan anywhere. md comment ON
be- mere conjecture"
John G niack. president ~ the Con-
iln.niai National bank said;
IT IL M sure TO come a. tomorrow
that America viii become great mon
cy lending na.ion like England and the
greater nations Of the old world. The
United States II accommodating wealth
twice nn fast aH any other country. n
would occasion no surprise should IL b.
/ reported that Russia was seeking a
loan In England or France. and should
not In the ease " this report that Rus.
Via may seek n loan In America"
thaH l. Hutchinson. Vice president ~
/ the Corn Exchange National bank said:
THE report that Russia u seeking n
/ loan IN this country may be true hut
seems 60 mo improbable. Al least, such
move IL unprecedented The mere
starting ~ such report Indicates a
I change IN the financial status ~ this
cunnny among the nations ~ the
Eihrldrc q. Kelih.r. prcsideu, ~ m.
] Metropolitan National bank said:
THE idea of the United States maxi
I ing any loan a. Russia does not seem
I probable. chiefly because American
nnnnciers are not well enough nc
| aunlni.d with conditions IN Russia 10
I warrant fhen IN meeting such "a promo.
| F'tinu without a great deal ~ caution
[ Tho financial relations have not been
close between Tho two countries and the
3 matter would appear In n different Hight
] N England or Germany nr France or
/ belgium or any ~ the cauralcs with
| which we have large trad. should
seek 10 make the loan Then, too. specie
/ payment " Russia n new thing.
/ md thnrr would hn question NJ ~ the
/ stability M conditions there. nut Amer
| ten now has large surplus 10 lta
/ credit, due % temporary conditions
largely N ~ favor, such as Increased
| exports and large fofeirn credit bal.
l nn"cs hut THIS country hns lots ~ use
I Tor ~ own money In developing IT,
Z own Industries ana resources and
/ though fhrfe n much Ameican money
I abroad. n does not seem probable that
American capital would seek invcstm mt
. any large NWfilH m kuHHinI
Chaunrey !, Hlnir president Of the
| Merchants National bank said,
- know nothing about conditions In
Russia or the probability ~ that c0un-
/ try trying a. negotiate government
loan In America hut tho conditions ~
the money market are such 49, 90 make
/ tho Htofv credible"
John v Mitchell, president NJ the H.
llnnlH Trust ana Savings hank who has
| lust returned from New Yur. said
III IN true that Russia ana Japan
mr." In communication With leading a.
nnnciers IN this country with view
~ floating loans Two weeks nro I was
communicated with concerning the
project Nv person ~ high authority
and am 10 hear ~ this man further
\ prominent nostnn house ana promi-
rent New York house have been con-
slderlng the matter for two weeks.
THE Russian loan II FOR the Rus
sian railway guaranteed Nv the Rus
Sian government and IL asked nj 3h
nor rent n D. not c8pecini'v surprls
lnF that ihev come N this country. Tor
the I'm cd states IL the cheapest money
market In the world NJ present. Rus
sian credit stands hlRh nd that gov
ern viii probably get whatever loan
N desires IN America. FOR an Furnnean
nation IN negotiate q lnnn IN the Init
| "A tSaies ~ n reversal ~ tho usual ar
Her N thlnfs and now and pleasing con-
dHlon ~ affairs"