The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1915-09-11
A | | |E 5 VI AN 7.
BILLION OF j. g..
MONEY GRE DIT.
ENGLISH AND FRENCH FIN
ANGLERS ARRIVE HERE Az
TER EXCITING VOYAGE

New York. Sent. li.-fThe joint
Anglo French financial commission
of six members deputed by Great
Britain and France to adjust the for
eign exchange situation here, reach
ed New York today aboard the steam
EN- Lapland from Liverpool They
we're met at Quarantine by J. P, Nor
gan and II. p. Dawson, Of the Nor
gan firm.
This afternoon the commission win
meet number of New York bank
ers in the library Of Mr.. Morgan's
home and enter upon negotiations
looking toward the establishment OF
4 big foreign credit loan.
Had Armed Escorts.
THE l.apland was conveyed through
.Ae war zone by two British destroy
ers. A formal statement issued on
the commissions behalf, was the
only expression made by any mem
Der OF the party for publication This
statement, issued at Quarantine,
reads:
THE joint ,Anglo-French mission
under the craftsmanship Of Lord
Reading, which has been sent to the
United States in connection with the
question of the exchanges between
New York london and Paris, arriy.
ed this morning by the Rcd star
steamer Lapland.
Who They Are.
"The British delegates are the
Right Honorable The Lord Reading
IF flrleigh, G. c. b., X. c. V. O., CHE
lord chief justice Of England; Sir
Edward Holden, Bart; Sir Henry
Babingtoh Smith, X G. b., G. S. T.
and Mr. Basil p. Blackett. G. b. of
the British treasury The French
delegates are NJ, octave Homberg,
representing the French treasury
and NJ. Ernest Mallot, director of the
/ Banque De France
Actual negotiations as to the cred.
It they hone to establish here We're
not begun and will not be for sever
Al days. During this period the com
mission expects to meet many other
bankers and exporters and to he
come familiar with the situation,
With these preliminaries disposed Of
the commission will start on the
actual details Of the proposed loan.
To Act for All Allies.
Although the commission comes as
the representative of the British and
French governments and importers
Of both nations. it seemed likely Fri
day night that it might before its de-
parture be called upon to adjust the
whole foreign exchange situation for
all the entente powers. To the prev
ious report that the delegation prob
ably would act for Russia there was
added Friday night the intimation on
good authority that Italy might with.
in a few days find it expedient to re-
/ quest the commission to act for its
government as we'll
Italian money is deprecated in this
market to degree unequalled by
any other. Chiefly because Of the
depreciation Italy some time ago can
celled orders for millions of bushels
of American wheat and sent her buy
ers to Argentina for the grain which
otherwise would have been purchas-
ed here
Great Britain and France, it was
said Friday night, have seriously con
templated the possibility of having
to go to South America for grain and
meats to an extent much greater
than at present and of turning to
Egypt for their cotton Munitions of
war they must buy in the United
states because there is no other mar
ket; but these is was said, form only |
a minor part of the total exports and |
can lie paid for in gold for long |
time to come.
Want Billion Dollars
Five hundred millions dollars is Tho |
smallest sum which the commission
hopes to borrow They would much
rather have a round billion IN view
however Of the many difficulties
lie in the way OF floating credit
loan Of such proportions in America
II was thought that the commission
task would he almost Of herculean
proportions in borrowing the smaller
sum- The entire proceeds OF course
would be used in paving for Ameri-
can supplies
Apply a cotton cloth wet with BAL X
SNOW LINIMENT to all