The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-02
Rig LOAN SEEN AS
GOOD INVESTMENT
3usinr,S Men and Bankers
Unite in Saying 1t Will
Benefit I. s.
EFFECT TO BIZ GENERAL

Moi ~ ~ AiAAt = ~ Nv
And hanking world spoke Of the Anglo.
french loan yesterday with much favor
and said they believed 1t would he an
excellent thing for this country as well
As for tic borrowers.
Charles W. Nash. president OF the
General Motors Company. said; at all
,eem. very simple to me. Here are two
GOOD customers OF the United States
who desire credit and we are advancing
Il 10 enable them to make purchases
which Will benefit US. The money Is to
be- spout here and will help to sustain
AID increase our exports of wheat, rot
ton. lumber. automobiles and everything
else. and the maintenance OF our eN-
ports vii. necessarily lie of advantage to
all forms of HON industry and produce
i,n II H. to the interest of everybody,
and I want to say that In my opinion so
long a. the great foreign demand on
,nucs tins country will continue TO en-
JOY prosperity.
As tn the loan as an investment. I do
not see how II could bc better. The
honor and integrity of the British and
French Governments are pledged and
nothing could happen that would cause
them 20 forfeit their obligationn. What
surprises me is that VIC were able to OBJ
tain such good terms for the loan"
Indications that California financial
interests are much In favor of the loan
are evident from "A statement received
rs a New York bank yesterday from
Frank Anderson. president OF the Bank
Of California. one of the largest insti-
tutions on the Pacific coast.
Mr.. Andcrson's statement was as fol-
lows
THE loan to France and Great Brit
an Is. IN my opinion. gooi from a credit
standpoint and is in the best interest
Of the United States. as 1t will aid In
financing the expectation of our surplus
products. our warehouses are choked
with surplus grain and food products
generally. which will break down the
prices received by our growers unless
shipped out of the country.
our mills and manufacturing insti-
,uilons are employing thousands who
will necessarily he thrown out OF en-
pioynieut unless means can be found Ia
finance what they export.
"lu the last analysis the proceeds Of
this loan will be used TO liQuidate loans
which have been eS, nded in the past
TO clients Of our N and the posses
zion Of the English and French notes
Will in the future prove a protection to
our gold supply"
Irving r. Bush. president of the Bush
Terminal Company, said
"Whcn this loan was first talked OF
! felt rather against IL. believing l,
would be to the best interests Of this
country to keep out Of any participa.
ton IN E%urope's financing. After q
careful survey of the situation. however
] have come to the conclusion that no
only is the loan advisable and Of tn,
greatest Importance to the industrie.
u this country. but 1t is also an in,
yestmeut OF unusual merit. in view Of
the generous yield and It's high Qualit,
of safety.
I'VE must bear in mind that there ar,
other markets for raw products, ant
that unless a large credit il quickly es
tablishcd 80 the purchasing power Of thu
British sovereign In our markets vii
be equal 70 its power in Argentina ant
elsewhere. Ia. Allies will naturally drol
Us and turn to these more Favorable
places.
THE loan will not affect the cXpor
movement OF war munitions. The Allie
must have munitions. and As Anerlc,
is practically the only place where the
can hc obtained in large quantities the
will continue to buy them here and pa
for them, too. whatever the terms ma
10.
'"rhe situation now might be likene
@, that OF a merchant who has bee
asked by his best customer to let hif
have credit for a limited period In orde
% buy more goods in his store. Woul
me merchant accede to such a request
! think he would"
Col Samuel =. colt. president OF tn
United states Rubber Company. In dis
,lssiug the probable effect OF the Anglo
Frsurh loan on the export trade OF III
lni'"l states said
"You canuot put me down too stronGl
uu Tins matter. l thoroughly belieN
lat the beneficial effect will be Yer
pronounced. | so expressed myself 9
Tho regular weekly meeting of he exec
u,iNe committee OF the United state
Rubber Company yesterday Afternoon
The Allie. will now he in a position
meet Obligations already incurred and
pay FOR additional orders which the
will feel the necessity of placing In tn
country. Foreign exchange hould I
stabilized also.
~ am absolutely confident that II tn
loan had not been successfully neg
'atod tho depressing effect on expo
trade, domestic business and the mark
for securities would have been pr
bounced. ! am equally certain that II
public offering Of the bonds will he a
overwhelming success, in spite or al
opposition that may have appeared he
and there because of national preJudic
The Industrial, Trust Company
Providence. of whose board j am Il
chairman, led Off among the institution
u that city Wednesday with a substai
tai absorption to the loan.'