Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-24
NOT AGREED ON AMOUNT
OF PROPOSED BIC LOAN
Americans Fix Maximum at $780,.
100000; Foreign Representa-
tives Stand Out for More.
REPORTS OF FRICTION DENIED
Troublesome Details Yet to BE .Ad-
.tusted Before Articles Of Agree
ment Consummating Negotiations
Are Signed.

NEW YORK, September o3.-Trouble-
some details have yet to be adjusted
before Lord Reading. representing
Great Britain and France, and j. p.
Morgan and his associates, represent
ing the inanciers of America, sign
articles OF agreement consummatine
negotiations looking to the establish
ment of big Anglo French credit
loan here.
Not the least OF these details. 1t de-
vcioped tonight is the size of the loan
The representatives OF Graf Britain and
France, il was said on excellent au-
thority, have been told that the maxi
mum amount they can get is $500, 900. :
600. In reply. il is reported, they have
told the American bankers that they
need moro, and that more will be ex-
pcctcd.
IL was reported TO day that tho COM
mission had sought to raise 81 .OOo. 900, :
GOO on joint Anglo French government
notes. without collateral. hearing in
tcrcst al ! l-2 per cent, and that it re-
ceded from it's position only in the face
of repeated assurances that II would
fail III its mission unless il could offer
better terms per cent rate was
then reluctantly offered. il was said.
with the positive assurance that this
rate would not be exceeded
COMPELLED TO RECEDE
FROM DEMAND FOR BILLION
The demand WAS still for 81, 200. .OoO,-
600. Within the past week, an Ameri-
can banker said tonight. the commits
sion had been compelled to rcccde from
this position also as TO the amount
upon emphatic assertions OF American n
fnanciers that it was unlikely that
q $1,000 100000 loan could he noated nj
that interest rate
Earlier In the week tho commission
and it's American confcrees came very
near to an agreement on all details
except the amount OF the loan, Il was
said Upon this point the commission
was reported to bnve heen insistcnt
that the sum should approximate
ST00.o 100000. and the American bankers
were said to have been equally firm i'm
their refusal to make tho amount more
IMAM S3oo.oooO0O When the bargain
'rS parted last Tuesday night. /; was
"''i' 'i'' mutual expectation that this
point would he adjusted within a few
hours.
They failed 10 agree apparently
Tonight ii was said that there might
nc an announcement OF the success OF
the negotiations within n few DAYS, or
mat possibly week would clapsc be-
forc an announccmcnt would be issued
American bankers in sympathy with
IN" commissions views said that mat
tcfS We're progressing very satisfnc-
torily. that there had been no friction
between the commission and American
financicrs.
COMMISSION DENIES
REPORTS Of FRICTION
The commission to-day issued an an
nounccment denying reports that there
had been such friction.
In the absence of word from London
as TO RNssia's possible participation in
the loan, il seemed settled to-day that
the negotiations would be conducted
only for England and France
During the two weeks STAY OF the
commission here, opponents OF the pro-
posed credit loan have been far from
idle. Wcll-dehned opposition appar-
emily has been increasing. 1t was said,
IN the West and Middle West. and New
York tnanciers are said to look to the
Eastern section OF the country for their
greatest aid in establishing the loan.
The commissions callers to-day, in
ciudinS several notable iinanciers were
optimistic as to the outlook but in
diCated that tho loan wonll nnt ox,oad