The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-19
AS TO A RUSSIAN LOAN.
United States Has Plenty 81 Money for the
Car to Borrow.
HARDLY LIKELY he WILL GET II, THOUGH
Bankers Arc Not Surprised ~ such n
Report, hut DO Not Believe II VIII
He Carried Through.

Chicago. December 1s--A number Of
Chicago bankers and financiers have been
interviewcl3 In relation to the reported app
piication Of one OF the European powers
FOR a heavy loan in tho United States
Isaac g Lombard, president of the Amer
lean National bank, said II hardly think
that this country will make u loau to Rus
| sia at least large ono There is surplus
money here, but not enough to warrant
large national foreign loan America has
made many foreign loans but not to gov
ernments Rates here are about as low AZ
anywhere at present..
Ennst A Hamill, president OF the Corn
Exchange National bank, said: There ID
10 question but that this country Is be-
| coming so rich that its surplus money Will
seek investment abroad The balances in
It's favor are growing larger and it is
accommodating wealth at a rate that is un-
lpiecedented. Money, consequently, is
easier here than elsewhere. For this res-
SON though the proposition of making
loarl to a foreign government is unprece-
uented in this country-its seems natural
and altogether probable. In case such
loan Is made, Chicago is In position to
provide a considerable share OF it." g
There is no doubt that II Russia want
ed a loan this WOULD be the natural place
to seek it, said j. b. Forgan. vice presi-
dent of the First National bank. THE
American money market at present, is the
| easiest in the world. The New York
banks last week added $4,000. 900 TO their
accumulated surplus and the Chicago
banks $5.OOO00O. Some Of the Mexican
States are now taking steps to borrow in
this country. have mo knowledge, be-
a fnrN
about to secure a loan anywhere and COM
ment Oh the probability of the truth of
that report WOULD be mere conjecture"
John 9, Black, president of the Cont.
mental National bank said: 1T is as sire
to come as tomorrow that America will be-
ccme great money lending Nation, like
England and the greater Nations of the old
worsd. The United States is accommodating
wealth. twice as fast as any other country.
1t would occasion no surprise should 1t be
idporied 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 to me
seems Improbable. At least such a move
such report indicates n change in the
financial status of this country among the
Nations of the workd''
Elbridge J. Keith, president of the Met
ropolitan National bank said; THE idea
of the United States making any loan to
Russia does net seem probable, chiefly be- i
cause American financiers are not well
enough acquainted with conditions in Rus
STA to warrant thlln in meeting such a
proposition without a great deal of caution.
The financial relations have not been close
between THE two countries and the matter
would appear in different light If Eng
land or Germany or France or Belgium or
any of the countries with which we have
large trade would seek to make the loan.
Then. too specie payment in Russia is
new thing. and there would be questions
as to the stability of conditions thsre. But
America now has a large surplus to it's
credit. due to temporary conditions. large
ly in itself due to increased exports and
Hsige foreign credit balances. But this
country has lots of use for its own money
in developing its own industries and re-
sources. and though there is much Amer
lean money abroad, 1t does not Seem prob
able that American capital would seek in
vestment in any lalWsl sums in Russia
John J. Mitchell. president of the I'LL
nois Trust and Swings bank, who has just
returned from New York, said: 1T Is
true THAT Russia and Japan are In COM
nunlahtion with leading financiars In this
couIsry with a view To floating loans.
Two weeks ago / was communicated with
concerning Una project by "a penS0N OF hiSn
authority and am to hear from this man
further A prominsnt Boston house and
prominent New York house have been
considering The matter for two weeks.
The Russian loan is for the Russian
rilway guaranteed by the Russian govern
msrl and is asked at 12 Per cent. II is
not especially surprising that they come
to this country. for the United States is
sibe cheapest money market in she world
rt present R,Issia's credit sfunds high
emf shat government will probably get
whatever loan it ttasires in America. For
an Eurepenn nation to negotiate a loan in
the United Safes is the reversal OF the
usual order OF things and n new and pleas
ing condition OF offairs.