New Britain herald., 1915-09-10
l. s. ID LOAN 500 MILLIONS
 ID THE ALLIES?
Reported That Foreign Commits SionerS Will EndeaVOr to
 Raise That Amount
ENGLISH AND FRENCH
 FINANCIERS REACH PORT

Commission Sent Here To Readjust
 By J. P. Morgan-Decline to Dis-
 cuss Plans Beyond Making Formal
 Statement - Lapland Was Con-
 voyed.
 New York, Sept. 10-The joint Anglo-French financial commission or six members, deputed by Great Bri- tain and France to adjust the foreign exchange situation here, reached New York today aboard the steamship Lapland from Liverpool.
 There were met at quarantine by J. P. Morgan and H. P. Dawson, one of MT. Morgan's partners, who es- corted them to their headquarters here. This afternoon the commission will meet a number of New York bankers in the library of MT. Nor gan's home and enter upon the first of a series of negotiations looking to- ward the establishment of big for
 
 eign credit loan.
 The Lapland was conveyed by two British torpedo boat destroyers throughout the war zone.
 Formal Statement.
 "A formal statement, issued on the - commissions behalf, was the only expression made by any member of the party for publication. This state ,nent issued at quarantine, reads as follows: s
 The joint Anglo-French mission under, the chairmanship of Lord Reading which has been sent to the United States in connection with the sa question of exchanges between New York, London and Paris, arrived this rnoring by the Red Star steamer Lap land.
 1.-The British delegates are the Right Honorable The Lord Reading ! of Erleigh, G. c. B., K c. V. O., the Lord Chief Justice of England Sir . Edward Holden, Bart; Sir Henry .Bibington Smith, G c. B., c. S: l; and MT. Basil P. Blackett, c. B. of the British treasury. The French deIigates are M. Octave Homerg, re- presenting the French treasury and M. Earnest Mallet, director of the Banque De France.
 s-.,...,t Object of Visit.
 '"The object of the visit of the mis- sion is to consult with the. American bankers and others as to the best means to be adopted for regulating the exchanges between New York; London and Paris, in order that the commerce and industry of the three countries may suffer as little as pos sibIe during the course of the war. MT Blackett will act as secretary to the mission"
 Members of the commission declin- ed to confirm or deny the report brought to New York two, days ago by passengers on the steamer Ryndam to the. effect that the commission would act for Russian as we'll as Great Britain and France It was understood however, that the report was we'll founded and that the re- suit of negotiations to this end. al- ready believed to be in progress in London among the finance ministers Of France and Russia and the Brit jsh chancellor of the excheuuer would be communicated by cable to the de1igation here.
 Meeting Social Affair.
 a J. P. Morgan, who greeted the deputation at quarantine, said the meeting in his library this afternoon was to be primarily social affair
 Tt would be unreasonable to as- < sume" MT. Morgan said, "that these s gentlemen at the end of a long voyage 5 would plunge immediately into their work here. They have first to meet the men with whom they will nego- z tiate. That's what they expect to do this afternoon
 r MT. Morgan would not say if this meeting, at which only New York < fnanciers would be presented to the 2 commission, would be followed as reported, by other meetings at which bankers from the chief cities of the X United States would be present and discuss the situation as viewed by them.
 Canada Floating Loan.
 . "It became known today that x Canada, probably for the first time in the history of the Dominion, is to be < consulted in negotiations for the con- ; tenplated f1otation of a foreign credit < joan. Hon. w. T. White, Canadian 2 minister of finance, according to an s Ottawa despatch, is on his way here s to join the commission
 N The first thing, apparently, con- T fronting the commission is the mak- 8 Ing of a program for meeting Ameri- # ran bankers and discussing the situa- Ha tion # The com missioners reac1 he'd
 (Continued on Fifteenth Pare.)