The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-19

interviewed in relation to the reported
application of one of the European
powers for a heavy loan in the United
States
Isaac G. Lombard, president of the
American National bank, said: Il hard
ly think that this country will make a
loan to Russia, at least not a. large one.
There is surplus money here, but not
enough to warrant large national for
eign loan. America has made many
foreign loans, but not to governments.
Rates here are about as low as any
where at present"
Ernest A. HamiIl, 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 balances in it's favor are
growing larger, and it is accommodating
wealth at a. rate that is unprecedented.
Money, consequently, is easier than
elsewhere. For this reason, though, the
proposition of making a loan to for
eign government is unprecedented in
this country, it seems natural and alto
gether probable. In case such loan is
made, Chicago is in position to pro-
vide a considerable sum of it"
There is no doubt but that if Rus
sia wants a loan, this would be the
natural place to seek it, said j. b.
Forgan, vice president of the First Ma
tionaI bank THE American money
market at present is the easiest in the
world The New York banks last week
added $40. 600, 600 to their accumulated
surplus and the Chicago banks $5,0O0,-
600. Some of the Mexican states are
now taking steps to borrow in this
country. 1 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 Conti-
mental National bank, said: 1T is as
sure to come as tomorrow that America
will become a great mOney-lending ma
| tion. like England and the greater ma
! tions of the old world. The United
! States is accommodating wealth twice as
fast as any other country. 1t would
] occasion no surprise should 1t be re
ported that Russia was seeking a loan
| in England or France, and should not
in the case of this report, that Russia
may seek q. loan in America.
| Charles L, Hutchinson, vice president
Of the Corn Exchange National bank
said: THE report that Russia Is seekIlhe Il
a loan in this country may pc true Dul
seems to me improbable. At least, sucI
a, move is unprecedented. The mere start
1 ing of such a report indicates a change II
the financial status of this country among
the nations of the world"
EIbridge c. Keither, president OF the
Metropolitan National bank. said: Thf
idea of the United States making any loa1
to Russia does not seem probable cmehy
because American financiers are not wei
enough acquainted with conditions III Itus
sia to warrant them in meeting such
proposition without a great deal OF eau
ton The financial relations nave no
been close between the two countries AM
the matter would appear in diheren
light if England or Germany or france o
Belgium or any of the coutries Wit
which we have a large trade should seel
to make the loan. Then, too, specie pay
ment in Russia is a new thing, and ther
would be question as to the stability o
conditions there. But America now ha
a large surplus to its credit, due to tenn
porary conditions largely in its favor
such as increased exports and large for
| eign credit balances. But this countr
has lots of use for its own money in de
veloping its own industries and resource
and though there Is much America
money abroad, it does not seem Drobabl
that American capital would seek inveS
ment in any large sums in Russia"
Chauncey j. Blair, president of tn