Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-10
TO FLOAT
BIG FOREIGN LOAN
First of Series of Negotiations
Will Be Held To-Day at
Home of J. P. Morgan.
VITAL INTERESTS AT STAKE
Commission Representing Eng
land, France and Russia to Meet
Leading American Financiers.

of a series Of negotiations to float here
foreign credit. popularity believed to
total about $500. 900 900 will be held
tomorrow in the private library Of
j. p. Morgan.
Prominent New York fnanciers in
cluding the presidents of some of the
citys strongest banks and trust COM
panies will he present. informally
representing the American syndicate
which probably will attempt TO under
write the loan: on the other hand. rep
resentinC the British empire, France
and perhaps Russia. Will be the six
members OF the specially appointed
Anglo-Frcnch commission.
The members of this commission are
believed TO be aboard the British
steamer La pland. due here Tomorrow
forenoon. They will be the guests Of
Mr.. Morgan during the afternoon, and
al 2:SO will be given reception In his
library. al which they will meet some
of the men who hold Americas purse
strings.
NO ANNOUNCEMENT MADE
AS TO COMMISSIONS PLANS
No announcement was forthcoming
tonight as TO the commissions plans.
1t was learned. however. that to-
morrow's conference probably will be
the first of a number to be held with
representative men of the American
financial world from every section of
the United States. 1t was considered
likely that bankers from Philadelphia.
Boston, Chicago. st. Louis. New Or
leans. Atlanta. Memphis, Kansas City.
Denver, San Francisco and other large
cities would be invited to visit the
l.
cuss the details Of their undertaking.
1t was said no attempt woii1d be
made by any one group Of powerful
bankers TO monopolize the commission
or to attempt to direct it's energies
The conflicting interests of dominant
flnanciers will he subordinated, as far
AS possible, IL was said, in n whole
hearted attempt to meet the commits
sion halfway in its endeavors to ad-
just the present complicated situation
The commission will be given the
widest opportunities to famillarize it
self with the situation. and it ie as
sumed that its program will include a
vast amount OF preliminary work be-
fore actual negotiations on terms of
the loan are begun. a visit by the
commission to financial centers OF
various sections OF the United States
is believed TO be within the realm of
possibilities.
EMINENT DELEGATION
OF FOREIGN FINANCIERs
No more eminent delegation Of inan-
ciers have ever crossed the Atlantic on
a single ship. in the opinion OF bankers
mere. The chairman of the commits
sion, Baron Reading. Lord Chief Justice
or England. is regarded one of the
foremost fnanciers of his country, and
his associates represent both the gov
ernment and financial elements OF
Great Britain. France also is sending
two of her ablest f1nanciers. Octave
Homberg. of the Foreign Office. and
Ernest Mallet, regent of the Bank OF
France.
When these men sit down Tomorrow
in Mr. Morgan's library. they Will face
financial problem of proportions
never assumed before in the Western
Hemisphere. Not only is the immedi-
ate future of Great Britain, France and
Russia involved. but. In the opinion OF
local fnanciers. the continuance OF the
prosperity OF American exporters like
wise is vitality affected
Whether Great Britain and her allies
will continue their lavish spending in
the markets OF the United States, these
hnanciers assert, depends almost who'll
iy on the success OF the commissions
work. Unchecked buying. they declare.
cannot continue unless way is found
to pay and the only plausible way
seen ahead nj present is to lend Great
Britain. France and Russia the money
with which to do il.
How much money is needed. upon
what terms it will be borrowed, what
collateral Will be offored. how long the
mammoth loan will run, and numerous
other details are what the commission
will endeavor to adjust.