South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-09-11
LOAN WILL MEAN
ALLIES SUCCESS
High Official Says European
Nations Will Get Money
in United States.

NEW YORK. Sept. 11-World in
terest in the financial end of the war
centered Friday behind the white
marble walls Of the famous library
Of ]. p. Morgan in East seth St, near
Madison av. There the Anglo-French
finance and credit commission which
arrived in this country early in the
day on board the Lapland TO raise
a loan Of between $500, 900 and
1000. 900. 600. 600. met the American
! leaders of finance.
1t was the first step toward estab-
Using an entente cordiale between the
| commissioners and the leading bank
ers of the United States and Canada.
Meeting Is Informal.
The meeting was informal, a sort of
glad to meet you. good day affair
and was not in the nature of a con-
| ference But after il was over 1t
was stated:
The bankers are TO arrange a plan
and suggest a way in which the credit
can be established. The banks, trust
companies and insurance companies
and others who have money TO invest
/ are TO then be notified of the plan
and invited to participate in the loan
The length of the commissions stay
! in this country is at present a matter
of conjecture.
From one high in authority the
following statement was obtained
Friday afternoon:
The estimated figures published
are not too high and the mission of
the commission will undoubtedly be
a success"
/ Heading the commission is the Right
/ Hon. Baron Reading, lord chief JUS
tice of England. Associated with him
are Edward Atkinson Holden, man.
aging director of the London City and
Midland bank; Sir II. Harrington
Smith, K. c. B., director of the bank
/ of Turkey in London; Basil p. Block
EFT, c. IS, representing the British
! treasury; OctaY HOmburg, of the
| French foreign office, ana Ernest
Mallet, regent of the bank of France.
Canada Represented.
/ Sir Edward Cassel, close friend of
the late King Edward VII, also ar
rived on the Lapland, and, although
not a member of the commission, will
take part in the conferences. For the
first time in the history of Canada the
] dominion is To be consulted in the
floating of a foreign credit loan And
J William T. White, the Canadian min
lister of finance with Sir Robert Laird
/ Borden, premier of Canada, joined
the commission in this city Friday.
This step is believed to have been
advised by the English foreign Office
TO weld a closed relation between the
mother country and the overseas
dominion.
Published reports that the COM
mission would act for Russia as well
as Great Britain was refused con-
frmation by Basil =. Blackett, secre-
tary of the commission. But it Is
understood negotiations looking to-
ward this end are under way in Lon
don and that the result Will be cabled
to the commission here.
Board Morgan Yacht.
]. p. Morgan. Henry Z. Dawson,
his partner, and Capt Georges Gaunt
naval attache Of the French embassy,
boarded the Corsair this morning at
. o'clock and went down the bay to
greet the commission aboard the Lap
land. which had been conveyed 800
miles through and clear of the tor
pedo zone by two fast British de-
strovers. The financiers were al
ready up and went over the side to
the Morgan yacht.
When the ..ammissiOn reached the
pier where Dudley Field Malone, col
Iector of the port saw they had a
an the talking for the party would
DC done by Mr. Blackett. the secre-
tary Mr.. Morgan would not talk OF
the party's mission. but said:
1T would be unreasonable to as
sumo that these gentlemen would
plunge Immediately into the work
here at the end Of a long voyage.
They first have TO meet the men with
whom they will negotiate. That is
what they expect to do this after
noon.
Rice Joins Party.
From the pier the party went to the
Biltmore, where quarters had been
engaged for them. In the morning
several bankers, among them John e.
Garden. vice president of the National
City bank. and heads of its foreign
, exchange department, called.
Shortly before 1 o'clock Sir Cecil
) Spring Rice, British ambassador, Mr..
Morgan and Mr.. Dawson arrived and
Joined the commissioners at q lunch
coon that lasted until o'clock. Then
SIR Cecil left for Washington and Mr.
! Morgan and his partner went down
to the Morgan library. where so fnan-
cial men from this city, Philadelphia
, Chicago. cleveland. Boston, Baltimore
I and canada, invited to meet them Al
, half past two. were kept waiting a
half hour until the commissioners
had finished a conference OF THEN
, own. When asked, Mr.. Blackett
? stated positively that neither he or his
: fellow commissioners had anything
y TO say.