The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-20
WANTS
TO ASSUME DEBT
international Syndicate Has Re-
newed the First Offer.
PLACES RELIANCE IN U. S.
MIR. selIoman Thinks That When tne
Time Comes He Can Call on state
Department to Assist In
Collecting Claims.

washington. March 1s.-The interna-
tional syndicate, headed oV the Sehe
mans, has renewed on larger scale than
at its first venture, the ofrer 10 assume
Venezuela's debts to the powers on con-
ditions. l. N. Seligman has been IN Wash-
ington two days in that pursuit, anu ne
has been at the White House ana mas
communicated with some members of the
diplomatic body. With him Is associated
Mr.. soIomonsohn, representing the Dis
conto Gesellschaft or discount bank OF
Berlin, which is the largest Individual
creditor OF Venezuela.
Mr.. SeliRman made arrangements to al
fiate In the floating Of the Venezuelan
debt with the banking firm of Speyer q
Co. of London, so that instead Of being
a purely American syndicate, as at first
supposed, the partnership will have
| international cast. 1t Is under
stood that the demand is not now made
for a Guarantee by the United States that
| these investors shall recover their money
from Venezuela, when the loan becomes
! due.
| Can Ask Aid II Necessary.
II is stated that the action of the Uni
ted States in signing protocol with Mr..
Bowen providing for the settlement OF all
American claims up to this time has sat
isfied Mr. Seiigman that when the time
shall come, he, like any other creditor,
can ask the state department to aid him
in collecting his money If justice Is not
furnished in Venezuela. The President.
therefore, is not asked to make any
specific promise as was the case during
the first overtures when he promptly re-
fused to bind this government as pro-
posed by the syndicate. But while the
syndicate has not renewed its request as
first made, 1t does want some visible ex-
hbition of the interest of the United
States In this matter, something that
might connect the United States govern
ment with the enterprise. 1t wants an
American to be appointed an agent and
stationed in Caracas to manage the re-
demption of the customs receipts. 1t Is
believed this proposition is attractive both
to England and Germany for, IL 1t were
accepted, Venezuela could pay her cred
itors within few days and the disagree
able necessity of adjusting the question
of preferential payments would vanish.
Secretary Hay being absent, 1t cannot be
said that the proposition has been laid
fairly before this government but It
has been preached.
seIgman VIII Return.
Mr.. Seligman left Washington today.
expecting to return In about two weeks,
when, If conditions are suspicious he
may put the proposition In concrete form.
Mr. Bowen does not favor the propo-
sition, and as his powers are unlimited
in washington, 1t is apparent that it can
come to nothing unless the principals
find some way of inducing President Cas-
tro at Caracas to act in person. Mr..
Bowen made this pretty clear today to
Mr.. Seligman when the latter called on
him.
The success of the undertaking might
mean the advancement to Venezuela by
the syndicate Of probably more than $780,
600, o00 as the syndicate has figured at
s45, 1000 900 as the probable total amount
o. claims that Venezuela will have to
pay the foreign creditors and an addi-
tional amount must be allowed for ex-
penses and not less than 10 per cent COM
missions to the syndicate.