The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1915-09-17
American FinancierS Promise
Half of Billion Dollars.
Commissioners May Boost
Credit Up to $75O,OOO,OOO.

New York, Sept. 17.-Another secret
meeting-the third within three days
-wassheld today between members of
the Anglo-French financial commits
sion and representative of big New
York, Chicago and other out of town
banking houses who are endeavoring
to reach an agreement on the pro-
posed mammoth credit loan to Great
Britain and France.
No further word was Forthcoming
from the commission than it's brief
statement of last night saying so much
already had been accomplished that it
was hoped a definite statement soon
could be issued telling of the progress
made.
The proposal, said to have been
made by American bankers that the
half the sum originally asked was
widely credited today. the commits
sion let it be known soon after it's ar
rival here that it was seeking a billion
dollars. Five hundred millions, it is
said, have been promised.
May Be Three Fourths Billion.
This proposal has not appeared to
be altogether acceptable to the COM
mission, and it is believed the sum
will be increased by $1OO,000,OOO or
possibly to $750,000,00O before nego-
tiations end. Whatever is loaned, it
is generally believed the interest rate
will be per cent to the investor and
about Il per cent to the under
writer's.
Whether the big credit should be
used to pay for shipments of war mu-
nitionS as we'll as wheat, cotton and
other commodities, has been the sub
ject of much discussion among the
confereeS 1t is believed much larger
loan could be floated if it were under
stood the credit would apply only to
commodity shipments and that NUM-
lions would be paid for in some other
manner, possibly by gold shipments.
Great Britain and France, it is said
opposed this plan, however, and are
DESTROYS of having the big credit cover
exports of every form.
Germans IN Line
Increasing willingness on the part
of certain so-called pro-German fl
nancial institutions here to partici-
pate was manifest today These
banking houses, it was said, are pro-
German only IN sympathy, and if in
Vited many would subscribe large
operate toward a continuance of the
present prosperity enjoyed by Ameri-
can exporters.
AS on yesterday, some of the most
prominent bankers of the financial
section were again absent from their
desks today and it was assumed they
had joined the commission in confer
ence. The idea of holding secret
meetings was largely due, it was re-
ported, to the number of threatening
ard insulting letters received by the
commission, and the hint dropped by
the police chat it would not be we'll to
announce any days program in ad-
vance.
Foreign Exchange Stiffened.
The presence of the commissioners
here and the publicity given their ne
gotiations have had a toric effect on
the foreign exchange market. Ster-
ling was up today to $4.70%, more
than 20 cents above its low level of
three weeks ago, and other foreign
money values were correspondingly
strengthened. Francs were quoted at
$3.50, rs cents better than the lowest
figures touched, and Tires reached
1925, which is "a cents above the low
record Reichmarks shared in the
gain, touching 80 Is.