New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-06
OPTIMISTIC:
SEES LONDON BANKERS
New York FinanCier Tells Trib-
une That He Finds Feeling
in England Hopeful.
BACK FROM BIG GAME HUNT
With Party of Friends Makes
Bag" of Lions, Rhinoceros
and Hippopotamus in
East Africa.


London, May "A. Barton Hepburn.
who returned TO London last night
from big game shooting in East Africa.
spent to-day consulting bankers on the
| financial situation and gathering in
| formation 10 take back 10 New York.
He said to The Tribune correspondent
! this evening:
My news Is rcassuring. consulted
| to-day with several leading fnancicrs
in London. and while there is good
deal of pessimism abroad. | find indi-
Niduals in every case are optimistic
/ You can emphasize the fact that | am
optimistic and that my news is rels-
surfing
The general impression is that this
mornings news from Montenegro goes
a long way toward settling European
international difficulties and minmizcs
the possibilities Of trouble over threat
ened Austrian and Italian Intervention
in Albania.
Money probably will remain tight
on the Continen. for some time Gov
ernments, railroads and private com.
panies all need money in large quaint
ties and all Will Ice in the market at
the first favorable opportunity. and the
demand probably will keep rates up
and money scarce. but the tone is good
among men l talked to and the feeling
hopeful"
Mr.. Hepburn intended sailing on
Wednesday on The Kaiser Wilhelm der
Crosse. bat found ne could reach New
York almost as soon on the Maurc-
tania and decided TO wait and give the
time To further consultations with
bankers, in order TO have as much in
formation as possible on European con-
iitions FOR the benefit Of New York.
Mr.. Hepburn is not greatly impressed
10y the House OF Commons scheme fo-
a flexible currency 10y utilizing clear
ing houses as guarantors Of CONNER
cial paper, which he read in The Trib-
une to-day. and said.
The function of the clearing house
should be confined exclusively 10 what
that name implies. exchanging checks
between banks. You can't base cur
rcncy ON clearing house assets. AS san
FRANCISCO, for example will not con-
sent to guarantee currency for use in
New York. Divisional centres for the
issue Of currency have been talked Of
before but such scheme can't be
/ worked without q central body Of some
| kind which viii have control Of issuing
currency all over the country.
we must have q central controlling
power. and Congress can't get rid Of
/ the currency problem by shifting it to
/ clearing houses. Congress can't solve
/ the problem by the abdication Of it's
! functions. There must he a central
controlling body and the power must
rest in Congress.
Mr.. Hepburn. who left London jan
uary % and Naples on February To-.
spent six weeks in big game hunting
| i'm British East Africa IN the party
| besides Mr.. Hepburn were :. 9. PcarV
| Lyman Hines. son Of the president Of
| the First National Bank OF New York;
/ W. A. Folsom and Jack Terry. Mr..
/ Hepburn and Mr. Pcary went 10 Mai
| robi. thence a siX-day trek to Taona
| Valley. where they got two lions. two
| buffalo. crocodile. python. rhinoceros
and hippopotamus. and returned TO
/ Nairobi. thence 10 Kapiti Valley, where
| they got fun bags II antclopes. Gland,
vilderbeest gazelles Thompson ga
| zelles and ali varieties of smaller game
/ They only shot Zebras TO make shoes
| for their bearers. whose feet were cut
! by the spear grass.
| As five guns arc not allowed To one
party. the other three members went 10
German East Africa. whore they got
! eight Hons.