Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-15
SEEK PRO-GERMAN
AID IN LOAN FUND
Banking Houses With Teutonic
Affiliations Probably Will Be
Invited to Participate.
OVERTURES NOW IN MAKING
Some Firms Indicate Readiness
to Help Because of Bene-
fit to United States.

NEW YORK. September 1.-THE pro-
German element in New Yorks hnan-
cinl world probably will be invited to
ooo,O0O,OOo credit loan which Great
Britain and Franco hope to establish
in this country.
The moneyed faction of this element,
Wall Street. believes. would be glad
to help; another faction, composed
largely of Middle Western bankers
with pro-German sympathies. is ex-
pected TO bitterly oppose the plan,
even though the money will all be
spent in the United States. Thus far
the Anglo French commission sent to
arrange the credit has met only such
bankers as are pro-ally in their sym
pathies and connections.
Some Of the country's largest tinan-
cial institutions, including Kuhn. Loeb
& Co, second In New York only 10
j. p. Morgan & Co. have not been
consulted. Apparently it had been
taken for granted 1t would be useless
to ask the fnanciers with German
sympathies TO contribute. Such u
policy, however. was disavowed late
to-day by Basil y. Blackctt. secretary
of the commission. Mr.. Blackctt said
he did not know who had arranged
that none of the members of these
firms should meet the commission, and
overtures looking to the participa tion
of Kuhn, Loeb & Co. were said 10 be
In tho making.
JAMES J. HILL CONFERs
WITH JACOB II. SCHIFF
James J. Hill. after conference this
afternoon with J. P. Morgan on the
situation went to the office of Kuhn
Loeb S Co, and had a twenty-minute
talk with his old-time friend. Jacob
H. Schiff. member Of the firm
Neither would state the subject OF
their discussion, but from another
source II Was reported that Kuhn, Loeb
& Co. would not look unkindly upon
an invitation to join in the loan plan
Some bankers doubted this report and
1t was impossible to verify it,
financier. regarded as n leader
among the half dozen or so really big
pro-German banking houses In New
York. voiced this opinion: There is
no doubt in my mind that many
banking houses with Teutonic aff1lia
tions might be induced to take part in
this Undertaking if asked. not because
II would be helpful to the allies bu,
because II is essential to the main
tenance of the commerce and indus.
tries OF the United States"
Some pro-German bankers here feel
keenly the failure Of their firms to re-
ceive invitations to meet the commits
sion. They point out that they are
primarily Americans. Notwithstanding
their German sympathies. and that
their interests and the welfare Of the
United States are identical Our sym
phthics and our hopes are with Ger
many in her struggle" spokesman
for this group said. but our pocket.
books speak loudly for the United
States"
DIFFERENT ATTITUDE ny
MIDDLE WESTERN BANKERS
In the gossip of Wall Street. how
ever. pro-German bankers of Chicago
Cincinnati, st. Louis. Milwaukee and
other Middle Western cities. would
take quite different attitude It was
said they not only would resent the
suggestion that they participate. but
would take active steps to combat
the tendency Of other banks to lend
the money. No one would permit his
name to be linked with this report,
but Wall Street heard that the Ger
man sympathizers of the Middle West
even were contemplating as a counter
movement. the foation of n $500. .00O.-
600 loan here for Germany. thus
withdrawing that much from the
money markets of America and maxi
ing 1t unavailable for the allies
To tie N 80
and pay interest on il, keeping IL idle,
would cost in interest. s25,00O,oOO a
year. but the pro- German bankers OF
the Middle West are said to feel Il
would be worth the price. Another
rumor was that the more partisan
workers were prepared to advocate
that pro-German depositors show their
displeasure with any bank participant
ing in the proposed credit loan to
Franco and Great Britain by seeking
other repositories for their funds.
BANKS ENJOY PATRONAGE
OF GERMAN sYMPATHIXERs
These pro-German bankers declined
to discuss the attitude of the average
German-American depositor toward
any institution participating in the
loan. but they pointed out that Ger
man sympathizers constitute n very
considerable part OF the bank patron
age in some OF the larger cities. and
that not n few are to he found among
the officials of such institutions
The hopes of the anti British loan
contingent were not buoycd. however,
by a statement made on behalf Of the
National City Bank. the largest in
America with $500 corresnopd.n
banks throughout the country Not
a single correspondent. ii was said.
had registered protest against the
institutions participating in the loan:
on the contrary. there was genuine
countrywide interest in the proposal.
and many requests for details had been
received.
The commission feels. acc ,rding to
Mr Blackctt. that there was no oc-
casion for surprise at the report that
there would be no collateral offered for
the big loan.