Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-09-17

an almost unanimous opinion among
bankers. whose views could he OBJ
tanned. that a billion dollars was not
needed and that in naming this vas,
sum at the outset The commission
sought to place itself il an advantage
Gus trading position.
Splitting the Difference
Here IS the way some financial au-
thorities regarded the situation
The commission asked for a billion
dollars. It did not expect TO get the
full amount. To this request bankers
would naturally maxi a counter offer
say half a billion. There would then
follow seYt&s Of parleys. The COM
mission wQST reduce the amour, BY
~ n 100 millions ard the American
bankers w ID offer few handfuls Of
millions ID astr previous OFFER Atte5
reach a cofmon figure, say by split
ting the difference. This would then he
agreeable To both sides and definite
terms as n the interest rate. the term
of the loan and other details could he
fairly and quick disposed Of.
Foreigners Good Players
The mAn Who have come over here
from Grea' Rritain and France in the
opinion Of Wall Street, arc master
PLAYERS in tha game Of world finance.
Like all good players they do not be-
ray by their words what their in-en-
tions are, nor do they place all their
cards on the table at once as Well
Street views il. Consequently. il is eX-
pected that there will be many more
Developments before il VIII be seen
what they are really striving for and
whether they Will win.
Thursday Conference
a dozen or more prominent New
York bankers talked with the com
rnissioners today at a meeting place
whose Whereabouts was not disclos-
ed J. P Morgan and two Of his part
ners. Henry P Dawson and Dwight
the others Were was not revealed. 4
number of bank presidents were not
Al their down town Offices. however. at
the hour at which the meeting was
held
Communication Statement
Issuance Of formal statements was
begun tonight ~ the commission. 1t
is expected that such statements will
be issued daily SO long as negotiations
are in progress. Tonight's statement,
given out by an under secretary, reads
as follows:
The mission has nothing Of fresh
importance 10 say. Its members have
continued, largely in their individual!
apacities-and occasionally as
hody-the discussions already begun
with reference 10 the exchange mar
kets and kindred subjects.
Figures have been collected going
10 show the total exports in recent
years Of cotton, grain and other food
stuffs to Great Britain. the tota! OF
such figures having such olrect
hearing upon the question OF estao-
fishing credits in this country. The
figures as published today give the
total commodity exports Of this coun-
rrv last year 10 Great Britain, Canada
and France as approximately $780,
oo0. 600, the great part Of that being
for articles of normal export. THESE
figures. if correct, as we assume them
10 be. indicate the great volume OF
international trade involved in this
whole situation.
"As to any actual negotiations cover
Ing a proposed loan Il is almost too much
TO say that they are actually under way
as vet. but SO much has already been
ACCOMPLISHED in ascertaining the exact
facts Of the situation that it is hoped
that the time for some definite statement
as to progress will soon arrive
representative Of John D. Rocke1ei-
Ter. Jr.. confirmed late today the report
that Mr. Morgan had placed before MY
Rockefeller tentative details OF the pre-
posed loan and had done so with view
IN having Mr.. Rockefeller subscribe 70
!, although Mr. Rockefeller had not yes
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