The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1915-08-19
REAL ESTATE nj
REDUCTION In
PROPOSED LOAN
SENS PROBABLE as RESULT OF
CONFERENCES OF IuTEHNA-
TIorAL FIEAucEs
Issus or si.5oo.ooo Instead Of HAif M
Hon At First suggestsd 10 Most
Likely.

NEW YORK. Aux IA reduction IN
ne prppo-ed foreign loan 90 b.. fioatod
mere, rom the half billion dollars nrzt
suggested 10 800. go0. 600 or $50 GOO :
ppe seemed probable tonight - the re-
t4lt ~ all-day conferences Of inferna-
.ional fiuanciers here. and - cable be-
tween this city and London While IL
Wa generally thought that this amount
you'd D. utterly Inadequate 90 meet the
rapidly AGAINST foreign buyers OF Amer
lean supplies. "a was felt that the sum
would b. sufficient 20 right the foreign
exchange markets temporarily. at least
and restore Co normal value the foreign
moneys nov a. Low ebb OF Appreciation
The chief reason for the contemplated
ever. was Understood 10 D. toe belief
that a large loan. such as Aas first pro-
lected could not b. readily placed here.
London wires Busy
Wires 10 England vibratsd all day
with questions and answers. proposals
and suggestions. between bankers IN
this CITY. and nnanciers In London. 20
whom the present depression IN ex-
change markets has been Il source Of
keen apprehension for several days past
At the close OF the day negotiations
had not assumed concrete form.
In considering loan Of f10o. 0eO. 600
70 $4,000, 900 10 Gr%n1 Britain instead
visement. local banks evidently sought
Immediate rather than permanent re-
LIEF for the situation. loan % $780,
100000. Il was pointed out would. on
the ordinary basis OF TO l. secure a
credit OF $500. 600 900 in this country.
The plan embraced no attempt 20 pr
vide FOR later demands. the tendency at
present being 20 care only for today
needs and TO meet tomorrOws situation
when "a should arise.
According 20 reports collateral for the
proposed loan was TO consist partly OF
American securities. partly OF British
external notes. and partly other collat-
Reasons for this radical reduction
caused much speculation Wall street
heard that a canvss had been made BY
that the result OF this canvass showed
that there was not now widespread
demand for foreign securities OF this
character. Besides IL was thought that
the international bankers who propose
TO finance the loan would not hazard it's
failure by making the amount too large.
but would prefer 20 have a smaller loan
oversubscribed than see a large one fail
would Deplore oold's Arrival
A. to current rumors. originating In
London, that a large amount OF gold
would be sent TO the United States TO
help pay on foreign Indebtedness. IMAM
ciers asserted almost unanimously that
they would deplore the arrival OF a
great quantity OF gold In this market
gold in this country. they said. Is un-
precedcnted: IN fact. more than sufh-
Gent to meet any emergency In the
domestic financial situation. To draw
more gold from foreign countries. II
was said would serve no good purpose
here but would tend 70 wreak injury
already low. In addition n superabund-
ance Of gold here. II was feared. would
cause n tendency toward Initiation.
Whether the Washington administra-
ton would disapprove the underwriting
by American bankers OF a large loan TO
Great Britain or her allies occasioned
some speculation among international
bankers early in the day. Careful study
OF the situation. however, led them TO
believe that inasmuch as the entire loan
II issued. would be used TO pay for
supplies purchased IN America there
would be no opposition TO the proJecN
by the administration.
Notwithstanding the unsettled situa-
ton. there was no further weakness in
exchange markets today. on the con-
trary there was a slight improve ment.
Rates on London and Paris. particular
Is the latter. hardened materially al
though much Of the Improvement in re-
mittances to London was forfeited late
in the day on renewed offerings OF bills
-~-~~~~~~~~~~~~~~~~~~~
gave him prompt medical treatment.
The injured man If employed at Mer-
chant & Evans. and IL will be sew
eral weeks before he can return 10
hts nOaffiOn