Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1915-09-15
Pro-GermanS May
Oppose Ally Loan
THUS FAR THEY HAVE NOT BEEN
CONSULTED.
IN $1,000, 100000 CREDIT
Allies Commission Has Conferred with
Only Such Bankers as Are Pro-AIIy
in Their sympathles and connee-
tions.

New York. Sept. 1.-THE pro-Ger-
man element Of New York's financial
world probably viii be invited to par
ticipate, II they signify that they desire
such an invitation. in floating the bill
lion dollar credit loan which Great
Britain and France hope to establish
in this country.
.Pro-German Opposition.
The monied faction Of this element,
Wall street heard, would be glad to
have chance to help; another faction,
bankers with pro-German sympathies,
would bitterly oppose participation in
raising funds for the use Of Germany's
enemies. even though the money will
all be spent in the United States
This was the big feature in todays
negotiations of the Anglo-French finan-
cial commission with Wall street bank
ers who are endeavoring to assist in
adjusting the foreign exchange situa-
ton.
Heretofore. the commission has met
and conferred with only such bankers
| as pro-ally in their sympathies and
connections Not a banking house with
even the remotest connection with Ger
man financial interests has been bid
den to send its representatives to the
gatherings at which scores of New
| York and out of town fnanciers have
met the members Of the commission
proposed loan.
Large Financial Institutions Excluded.
Some Of the largest financial insti-
/ tutions in the United States, including
| the big banking house OF Kuhn, Loeb
| q company, which Is second in New
| York only to ]. p. Morgan & company,
| have thus been excluded by this poll
cy. Apparently II had been taken for
granted that IL would be useless to ask
/ anct6rR (rQrman Na
contribute their dollars toward the pro-
posed loan Such a policy however,
was disavowed late today by Basil B.
Blackett, secretary of the commission
Mr.. Blackett said he did not know
who had arranged that none Of the
members of these firms should meet
the commission; IN fact, he did not
know that they We're not TO meet the
commissioners.
Oyertures looking to the possible
participation OF Kuhn, Loeb & company
in the loan. while not made today, were
said to be in the making. James J.
Hill. the railway builder and financier
Of the northwest who has championed
the cause OF the commission and con-
ferred with ]. P. Morgan on the situa-
ton, left Mr. Morgan's office this af-
ternoon for the office of Kuhn, Loeb &
company, and there sat down for a 20
minue talk with his old-time friend,
Jacob H. Schif, a member OF the firm.
Mr.. Hill discussed the loan with Mr..
Schiff. though neither would state af-
ter the meeting the subject of the dis
cussion- From another source IL was
reported that Kuhn, Loeb & company
would not look unkindly upon an invi-
tation to join hands, in this instance,
with the firm of Morgan & company
and participate in the loan A report
, directly the reverse of this, however,
. possible to verify either.
/
By a financier regarded as a leader
among the half dozen or so really big
! lpro-German banking houses of New
York there was voiced this opinion:
There is no doubt in my mind that
many banking houses with Teutonic
Affiliations might be induced to take
; part in this undertaking (hoating the
credit loan) If asked. not because it
: would be helpful to the allies, but be-
cause ii is essential to the maintenance
: of the commerce and industries Of the
: United States"
KeenIy Felt Their Exclusion.
Some pro-German bankers high in
, the money councils Of Wall street feel
i keenly the failure Of their firms to re-
' ceive Invitations to meet the members
e of the commission These bankers
point out that they are primarily
Americans. Notwithstanding what their
g sympathies are in the European con-
s hict; that their interests and the well
r fare of the United States are identical
h and that IL they have to choose be-
tween a continuance Of American pros
lperity and hard times. they choose
prosperity. no matter to whom they
o will have to lend money.
IL Our sympathies and our hopes are
= with Germany in her struggle" q
spokesman for this group said, but
our pocketbooks speak loudly for the
= United States
: Bitter Opposition from Middle West
! Not at all in keeping with this cheer
ing word was the intelligence received
during the day by the commission as tC
. the activities of certain other German
: sympathizers, chiefly in the middle
: west.
In the gossip Of Wall street, pro-Ger.
man bankers OF Chicago, Cincinnati
St Louis, Milwaukee ana orner mid.
die western cities would bitterly op-
Q pose any action whatever looking L
: the financing Of the loan by American
= banks. These bankers, according Z
report. were prepared not only to re
sent the suggestion that they might b,
permitted to participate. but woulC
: take active steps to combat the ten
dency OF other banks to lend TIT
money.
OBITUARY.