Barre evening telegram. (Barre, Vt.) 1898-19??, 1898-12-19
RUSSIA AFTER A loan?
James H. Eckels of Chicago First to
Give the Tip.
AN UNPRECEDENTED ACTION
e wen Informed Men Are q, a.
i"" Thnt 1t Is Japan That 7.
'er Gun Moncy-Why Thex
seek American Gold.

lineage, Dec. 19-James II. Eclo,s
pfesioent of the Commercial Not;o.s,
tn e',.A' SAID 1 am creditably informed
ena' d great foreign power has sent ron.
,esehtatives to the United States ond
'nde they are now in New York for +he
purpose or negotiating a loan NJ ;r,
hlehse proportions. If the sourco ne 49,,
ILLUMINATION. atnn is reliable. it is the first in.
S.. IN the history of the United
here" po"ei borrowing
The Daily News says: 1.-THE Statement
. may startle the general public. but in
.ne financial world the report will cause
~ aslohlshment, although the action
WI ne unprecedented in the history NJ
the country. For nearly two months
money has been the cheapest thing IN
america, as financiers phrase it. For
fortnight call loans have been made in
Wail street as low as ~ per cent while
snort Tune borrowers with approved COL
ia'eral are accommodated at Az nor
cent IN Chlcago. The bond markets re-
aosoiutely Dare of first class securities
yleiulhg more than 31a per cent. TODAY
. per cent coupon issues were bought on
inc exchanges at 1877, and high grade
SUCKS paying dividends at the rate of
per cent per annum were quoted at 1872
chicago and Northwestern common was
an instance. Firms that make a sne-
clalty of investment securities acknowI-
edge that the demand for values has
exceeded the supply threefold. Fairly
safe issues have been absorbed. and
there is no dinlinution in the funds
seeking placement. The national treas
ury states that for the current month
money in circulation has increased 800
3O3,722. This, following a gain of $780,
oo0,O00 for October. makes a total ex-
pansion of about $75, 900 900 for the last
6O days. Compared with a year ago the
total circulation of all kinds of money
is $165, 10000 greater and amounts in all
to $1,SS6,S0 900. The perspective reveals
even more money. On the first of the
year corporations will distribute about
$l0o, OO0,0 900 in interest and dividends.
Besides exports are increasing rapidly,
while imports are decreasing quite as
speedily The latest figures tell that the
exports of merchandise from this coun-
try exceed those of Great Britain for
the first time in the history of the two
countries. The United States is in the
unique position of desiring to buy the
American stocks and bonds that are
held abroad. 1t is this condition that
has warranted a foreign government in
making tentative overtures for a big
loan here. The borrower is supposed to
be Russia. The representatives of that
country were negotiating with French
bankers some time ago for a large sum,
but the transaction was not concluded.
Mr.. Eckels was asked if he could give
any intimation as to which of the Euro
pean powers had made overtures for a
loan. He replied that he had no definite
information in the matter, but that the
whole subject had been suggested to
him in a conversation in New York, in
the course of which the name Of the
applicant had not been mentioned.
"Of course the whole matter is as yet
hardly anything more than rumor"
said Mr.. Eckels. IF true, it would be
of vast significance as showing the ire
mendous value that European countries
are beginning to set upon the United
States as a source of financial aid. Be-
yond this l have nothing to add to the
interview printed in The Daily News"