Evening star., 1915-10-16
HAL F-B|LL|0N LOAN
AGREEMENT SIGNED
Lord Reading and Other Men,
bers of the Commission
Depart.
TO ASK ANOTHER LOAN
WITHIN A SHORT TIME
Expected to Approximate $3.50, ,o00,'
900, But Details Are Not Yet
Arranged.

NEW YORK, October 16-Lord Read
ing, chairman of the Anglo-French loan
commission. and two of his associates,
Sir Henry Darlington Smith and Sir
Edward Holden. sailed for Liverpool
today on the American liner st. Louis.
Although the contracts for the five
hundred -million-dollar loan to be float
ed in this country were signed yester-
day, virtually completing the work of
the commission, Basil B. Blackett, sec
retary of the commission, and the
French members, Ernest Mallet and Oc-
tave Homberg. will remain in this
country to attend to any necessary de-
tails in connection with the actual
placing of the loan.
Signers of the Contract.
Three words, Reading of Erlagh."
from pen in the hand of Lord Read
ing, bound the British empire to it's
terms
France was bound by the signatures
of Octave Homberg and Ernest Mallet.
her representatives on the commission.
Last of all. ]. P. Morgan affixed his
name in behalf of the American syndi-
cate OF unQeT"FlteIS lHihiSuiheO~S
thereafter four witnesses attested the
signatures, one of them being Mr..
Blackett The three others were Amer
lean lawyers who assisted in drawing
UP the document.
AS many prominent bankers as could
be crowded into the boardroom in the
Morgan banking house looked on.
There was much enthusiasm. but no
cheering or applause, and congratula-
tions were showered upon Mr.. Morgan
and the members of the commission.
Speaks for the Borrowers.
Arising from the seat which he oc-
cupied at the head of the long oval
table. Lord Reading thanked the syn
dicate for it's cooperation in accom-
plishing his task.
I'VE realized from the first" he said.
that it was only possible to carry
out a transaction of this magnitude II
there was loyal and devoted co-opera-
tion by all concerned from Morgan &
Co. and from all their associates in the
syndicate. From them we have had
nothing but the greatest assistance
and conscientious and sincere advice.
and 1t Is for that reason l desire to ex-
press our sincere gratitude This has
not been an easy task, and on the
whole, taking into account the magni-
tude of the transaction. the result has
been very creditable, especially as we
have carried it through by the date
originally fixed for the first payment
on the bonds.
TT may have not been the exact date
we intended, but we have got there. /
feel on behalf of the English govern
ment that 1t Is incumbent upon US to
say that we are very much indebted
to all who have aided.
f. II should like to add that after we
had given close study to conditions
here. after making ourselves acquaint-
ed with the difficulties of a transa ction
in this country where the people were
unacquainted with external loans, we
sought advice, and it was given to US
honestly and conscientiously, not only
in the best interests of our own coun-
try, but, we believe, in the best in
terests of the United States"
To Seek Another Loan.
Within couple of months, Lord
Reading said, negotiations probably
will be begun looking toward the ere
alton of the supplemental loan already
forecast. 1t is estimated that this loan
will be approximately s250.000, 900
Whether it would be another bond Of
fering or an arrangement of diff
ferent sort was a detail yet to be
settled, he said. When they reach
home the members of the commission
will place the situation before the
bankers in England and the matter will
then be decided on.
The contemplated visit to Canada was
abandoned, as Lord Reading and his
,tr,xa <zy