Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1915-09-16
Every Indication That the An
glO.French COMMISSIONER
Work Thus Far Has Equaled
All Their Expectations.
ANOTHER VIEW NOT 50 ROSY
Pro- German Financiers of New
York Develop Overnight Feel
ing of Resentment and Are In
clined to Feel Hurt Over Lack
of Invitation to Take Part.

of Invitation to Take Part.
New York. Sept. 15.-America's billion
dollar loan to Gseat Britain and France
seemed to be well on the way to actual
accomplishment tonight according to
bankers familiar with the pledges Sc
cured by members OF the Anglo-French
financial commission during their five
day stay in this country.
Announcement at this time that the
success of the loan was assured would
be- these bankers thought. decidedly
premature; but there was every indica-
tion, in their opinion, that the commits
son's work thus far had met with de-
gree of success that had fully equallcd
their expectations.
This rosy view did not coincide with
the sentiments Of those opposing the
big lean, nor Of the so-called pro-German
flnanciers here who have not been In
vited to attend the commissions con-
ferences or meet the commissioners.
SEVERAL PLEDGES SECURED.
So far as could be learned from bank
ers In touch with the commission and its
work, the situation tonight was about
as follows
Pledges already have been secured for
| considerable fraction Of the big loan
| Other pledges are In prospect.
| The so-called pro-German banking
| houses OF New York will be invited to
participate in the loan IL the commits
| sion can be persuaded that they are
| sincere in their expressions of willing
ness to do so.
The billon-dollar loan probably will be
divided into two and possibly four
separate series Of equal amounts.
Bonds upon which the loan will be
granted will bear not less than five per
cent. interest and WILL be payable in
dollars free from British income tax
requirements.
| An attempt will be made to sell the
bonds at par. In case the interest rate
should be five per cent Members OF the
commission fully believe that such
bonds could be disposed OF at par. but
American bankers have their doubts on
this score.
Opposition 70 the f1otation of the loan
is countrywide among Americans OF
German sympathies or parentage. but
this has strengthened other bankers In
their determination to assist In the aid
Of the commissions friends. The bonds
are to be payable In either five or ter
| years. Possibly one series will mature
in five and the other in ten years. This
has not been decided.
Into the hands Of the commission. Il
became known to-day. many American
bankers have placed their pledges tc
At Nj
to the amount Of these pledges wa:
given but there were indications thai
the sum totaled many millions, These
promises, It was assumed. were contin
gent upon conditions OF the loan.
In nearing the intimate details of the
transaction. the members Of the com
mission narrowed their conferences to
day TO smaller circle Of fnancierl
which included only the most Influential
OF the country's financial and industria
factors. Among the mon who are knowr
TO have consulted with the commission
ers are ]. y. Morgan, George +. Baker
f.. James j. Hill and Festus J. Wade.
COTTON CROP CONCERNED.
In much the same vein as Mr.. Hi
: had spoken for the great wheat grower
, of the Northwest, Mr.. Wade. 1t becam
| known. called the commissions attention
, to the necessity of covering Shipment
OF cotton with any credit loan tina
: might be negotiated here. The prosperit,
OF the American cotton grower OF 1915
Mr.. Wade thought. was wrapped up II
I the success OF the commission. With tn
I allies eliminated as extensive purchaser
2 Of cotton by the commissions possibl
! failure to establish the desired credi,
) Mr. Wade was inclined to take n gloom.
, view OF the situation In the southern
States during the year To come.
The commission Is reported as hnvin
! made II clear to Mr.. Wade that the pro
q posed credit loan, IL obtained. would pro
vide funds to care for exports Of cotto
Z as we'll as every other article import
, by Great Britain and France from thi
e country.
n As 10 the actual details Of the LOAF
= there was no authoritative informa
q tion, but bankers were generall
4 agreed as to the reported life Of tn
O loan and the interest rate.
= PRO-GERMAN FEELING.
$ Overnight feeling of resentment 4
certain financial groups In Wall stree
seemed to increase on the matter O
participation by the so-called pro
German hnanciers OF New York Thes
@ Ananciers. who constitute n formidabl
N array of financial power have not bee
invited to take part In the loan an
were inclined to-day to feel hurt.
"In many cases" said spokesma
n. for this group. "the name of the fri
ia German and the officers all Ameri
can. descendants OF Germans, but Dor
! and raised In this country, These me
r. are good Americans and they feel hur
that they are not permitted TO shar
in councils of so vital interest to thei
country
Washington. Sept. l5.-Secretar
|. Lansing made 1t plain to inquiries to
Iday that no violations OF domestic O