The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-19
AGREE vt TO
BUY MUNITIONS
WITH BIG LOAN
ENJOYS and Financiers Set
tle Practically All Points
of Difference.
OFT OF TOWN BANK
HEADS RETURN HOME

such satisfactory progress was made
mission and American inanciers late
r~da, night, and yesterday morning
,ha, d. vas predicted by an American
snanr.er IN touch with the situation that
Monday will see every substantial diff
ferercc ended.
There has been no threatening hitch
m the Informal negotiations at amy time,
but there was the necessary argument
during which the borrower and lender
came closer and closer together. AS II
10 confirm this statement. every mar
who has had close connection with the
transaction started on a holiday Satur-
cay afternoon.
ST. Edward Holden departed from the
Ho,el Fillmore. it was announced. for
b. b., son and daughter. NM. Octave
Honberg and Ernest Mallet. the French
omm.ssioners went rs guests over Sun
day Of former ambassador Robert Ba-
OOH \ ljttle later Sir II. Babbington
Smith and Basil u. Blackett departed
with the simple announcement that they
were 10 be week end guests of friends
d Mr. B~lackett. Lord Reading was to
remain at the hotel during the day in
absolute seclusion. but will go out OF
town this morning.
Al tho commissioner ,re 70 ratnrn
bate Tonight or early tomorrow for the
meeting at which, It il expected, an
agreement will be reached.
FInnncicrs Return tn Homes.
Few Of the leading American bankers
~ere at their offices yesterday, and
those who were seen said they were
buSy at something else. All appeared
optimistic concerning the loan. At the
same time. the out of town f%nanciers
j. HI. who has taken an active inter
e., on behalf of the wheat grower of
the West. called at the Biltmore as early
4. VI. Mr.. Hin was 20 depart
pA a ldltI lIdli ltT NiltllttIcilS Jdiite
B ForgHn and George h. Reynolds OF
Chicago had started Tome. SO had
Festus j. Wade of 81. Louis. the Boston
men and those from other cities. l,
was pointed out hat these gentlemen
would not ave gone away If matters
had not been in a satisfactory stage
The PORTS Of agreement reached in.
formally Friday night n yesterday
MOI iug somewhere uptown were
thes'
Tie loan is 20 he exclusively for com
mo- lies.
/, will be hoated at a net cost of {
pc cent to England.
The n unit, which will be between
$500. 600, 600 and S75O,OOO. 600, has no
BE-. definitely fixed and IL was saiC
In iuI'cial circles that this will de
pen 300 "A great measure upon the SUB.
Sc ptl.us indicated by the American
syndicate.
Subscriptions or estimates Of whaI
eac1 scut n can handle are coming h
rp.I.y ard the majority OF them ar,
taS,l ou the Understanding that mum,
tors are excluded.
R%eticcnt on Munitions.
Some American bankers believe it vii
Be 'ay 90 obtain the larger figure if tn,
pu'tH |ttllL'S tildl 10 essential WI!
MAJ 70. is to be purchased with tn,
proceeds and that all o: the money
IS remain In this country. The United
sta, Will not he drained OF a dollai
in . 10 and will have in addition a hug,
Mm Available to keep every branch o
bus "S~ employed fer a long time.
There is extreme reticeuce in al
quarters when the subject OF munition!
Is touched upon. There appears to b'
aGeueral disposition to leave that bust
hes 10 separate arrangement between
The countries at war ard the .Asnerlcar
manIttcturers. Many are in favor o.
HAVING the present method Of payinl
IN e 1t continued, but there are sur
nls's that perhaps an arrangement may
be made with them so the big companie!
VII accept short term obligations backed
BY collateral which will make then
read Iy Negotiable. In any event once
3oroasn exchange is stabilized by a grea
torc.rn credit in this country the gener
business situation will be cleared up.
SIR Cecil SprinE-Rlce. the British Am
basStl"r, arrived at the Biitmore yes
eri1y morning and Immediately II wa!
fp r'"d that he had come to join tn,
conferences. Sir Cecil was on his wa,
70 beverly. Mass, whittier he started
o. 3 o'clock in the afternoon. He saw
pom" Of The members Of the mission
bui th's was after the conference,