New Britain herald., 1915-09-17
fINANCIERS HOLD \ SECRET MEETING
Great Britain and France Wish
 Loan to Cover War Orders

New York, Sept. 17.-Another secret meeting-the third within three days-was held today between mem- Bers of the Anglo-French financial commission and representatives of New York, Chicago, Boston and other cut of town banking houses who are @ @endeavoring to reach an agreement on the terms of the proposed mammoth credit loan to Great Britain and France.
 No further word was forthcoming from the commission than it's brief Statement of last night that so much Tad already been accomplished that ii was hoped a definite statement could soon be issued telling of the progress already made.
 $5OO, O,0OO, ,OOO the Loan?
 #The proposal, said to have been made by American bankers, that the commission would be loaned half the snm they originally asked for was widely credited today. The commits sion let it be known soon after it's arrival here, that it was seeking billion dollars. Five hundred million, it is said, have been promised.
 This proposal has not appeared to be altogether acceptable to the com- mission and it is believed that the sum will be increased by $100,000,000 or Possibly to $75O,O0O,O00 before nego- tiations end. Whatever is loaned it is generally believed the interest rate will be five per cent. to the investor and about five and one-half per cent. ito the underwriters.
 Pay for War Munitions.
 V Whether the big credit should be } used to pay for shipments of war mu- a-x44 5 other commodities has been the sub- ject of much discussion among the commissioners and their financial agents and other conferees here. It ! is believed a much larger loan could Ee foated if it were understood that the credit would apply only to com Iaodity shipments and that munitions of war would be paid for in some other manner. possibly by direct ship rents of gold.
 Great Britain and France, it is s4id, oppose this plan and are de- sirous of having the big credit cover exports of every form.
 Pro-Germans to Participate.
 Increasing willingness on the part of certain so-called pro-German finan- cial institutions here . to participate was manifest today. These banking Houses, it was said, are pro-German only in sympathy, and if invited, many would be glad to subscribe large scms8 to a credit loan which will operate towards a continuance of pfesent prosperity enjoyed by Ameri- can exporters. .....s..s. j..
 MThe presence of the commission here and the publicity given their Negotiations have had tonic effect 1cE the foreign exchange markets.
 e Move Of Opponents. 4 Opponents of the loan carried their campaign into Wall Street today and announced their sentiment from fam . ing placards in front of the office ofaJ. P. MorganF& & Company.
 Wall Streets shame" read one of several large signboards held aloft } by leaders of a file of men who marched through the financial sec- ton as a protest against the loan. Another read: ~"The money trust is lending billions of American money to bankrupt England, France and Russia" Tie procession ended with a man carrying a big sign on which was painted s'Billions for King . George."- -.aye-,s- s~. s.se <rr. |sf The paraders stopped in front of
 
 ed and detectives ordered them to move on. .-.s ..~.. M .
 Earlier in the day a large man, dressed in a bright red coat and blue breeches, which he said were em- blematic of the British army uni- form, sauntered through Wall Street and stopped on the sidewalk in front of the Morgan offices. A dininutive ] straw hat, whose crown was not 1 larger than 8 silver dollar, rested on ! his head and in his hands he car ried a many colored banner on which We're written sentiments similar to those later displayed by the parad- CTS fEThe crowd which immediately sur rounded < him choked the street for
 Evaral minutes. The police finally
 Int him away. ...- x