The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1898-12-20

accumulated surplus aud the Calcago
banks N,Oo0.OOO. some OF tho Moxlcan
states arc now taking stops 10 borrow In
this country have no knowledge be-
yond the newspaper reports that Russia
10 about to secure loan anywhere, and
comment upon tho truth of that report
would be mere conjecture"
John G. Black. president OF the Con.
tinental National Bank, said:
1T ls as sure 10 come as tomorrow. that
American Will become a great money
lending nation like England, and the
other greater nations OF the Old world.
rhd 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 loan
In England or France. and should not in
the case Of this report that Russia may
seek loan in America"
Charles L. Hutchinson, vice president
Of tho Corn Exchange National Bank.
said:
The report that Russia n seeking a
loan In this country may be true, but Il
seems 10 me improbable. At least such
a move IL unprecedented The mere
starting Of such report indicates a
change In the financial status OF this
country among the nations OF the world"
EIbridge @. Kelther, president Of the
Metropolitan National Bank, said:
''The hea Of the United States making
any loan to Russia does not seem proba-
bic, chiefly because American fnanciers
are not wen enough acquainted with con-
ditions in Russia 10 warrant them In
meeting such proposition without
great deal Of caution. The financial re-
lations have not been close between Inc
two countries, and the matter would ap-
pear in q different light II England Or
Germany or France or Belgium. OF any
Of the countries with which we have
large trade should seek to make the loan.
Then. too. specie payment In Russia Is
a new thing. and there would be question
Al 70 the stability Of conditions there.
But America has now a large surplus
to its credit. due to temporary condl-
tlons, largely In It's favor such as In
creased exports and large foreign credit
balances. But this country has lots Of
use for It's own money In developing ixs
own resources and industries and though
thcre Is much american money abroad.
II does not seem probable that Amerisan
capital would seek Investment in any
large sums in Russia"
chauncey J. Blair, president OF the
Merchants National Bank. said:
Il know nothing about conditions Ia
Russia, or the probability Of that country
trying to negotiate government loan
in America, but the conditions OF the
money market there are such as 10 make
tho story seem credible"
John ]. Mitcneil president Of tAe I'LL
nols Trust and Savings Bank. who has
just returned from New York. said:
1T is true that Russia and Japan are
IN communication with fnanciers In this
country with a view to floating loans.
Two weeks ago was communicated WITH
concerning the project BY a person Of
high authority. and | am to hear Of this
man further. A prominent Boston house
and prominent New York house have
been considering the matter for two
weeks.
The Russian loan is for the Russian
guaranteed by the Russian gov
ernmens. and IS asked at sis per cent.
II is not especially surprising that they
come to this country. for the United
States Is the cheapest money market in
the world at present. Russian credit
stands high and that government viii
probably get whatever loan 1t requires
in America, For European nation to
negotiate a loan in the United States Is a
reversal Of the usual order Of things, and
a new and pleasing condition OF affairs"