Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1915-09-16

seeking other depositaries for their
funds.
1t was the opinion of some of the
pro-German bankers that the Anglo
French commission had made grave
mistake in placing its requirements so
high as a billion dollars. Such a drain
on America. they assert would consti-
tute a menace to the moneyed inter-
ests of the country
These German bankers declined to dis
cuss the attitude of the average German
American depositor toward any institu-
ton participating in the proposed loan,
but they pointed out that German SYM
pathizers constitute n very considerable
part of the bank patronage In some of
the larger cities of the country and that
not a few are to be found among the
officials of such institutions.
IRISH INTERESTED.
; 1t was limited. also. that persons Of
Irish ancestry o. birth figure impor-
family in the affairs of banking institu-
| tions in the West and along the Pa
! cinc coast. This element, 1t was indi-
Gated, would be none too friendly to
banks participating in loan to Great
| Britain and France.
The hopes of the anti-loan contingent
We're not buoyed. however, by state
mcnt made on behalf OF the National
| city bank the largest In America. This
institution has $50 correspondent banks,
scattered throughout the country. Not
a single correspondent it was said. had
registered a protest against the institu-
TONS participating in tho proposed bill
xI. h0r
was genuine countrywide interest In
the proposal and many requests for de-
tailed information as to the loan had
| been received.
! OF the tens of thousands of depostors
| In this bank. it was said. only one hai
made verbal protest against the banks
participating but On the other hand two
other big New York banks. whose offices
are prominently identified with the affairs
Of the New York clearing house. said they
had received many protests. In
fact. protests from German sym
pathizers seemed to he the order
Of the day. extending even to member OF
the commission who had received. 1t de-
velopcd to-day. a number of letters, some
insulting, some threatening. but none
considered alarming.
The commission Ielt, to-uay, aCcoTuihS
to Mr. Blackett's statement. that thers
had been no surprise Mt the report that
there would be no collateral offered for
the loan. Mr.. Blackett would give no In
timation as to the progress made to-day
other than that there was not yet a def
mite, set program There had been very
little German agitation, he thought.
TEN YEAR BONDS PROPOSED.
| It was considered probable that the loan
would be In several instalments. as pre-
viously indicated might run ten years
and would bear interest at the rate Of
five per cent. These reports were uncon'
nrmed 1t was generally believed, how
ever that the British and French treasury
notes would be payable in dollars.
one Of the many reports discussed was
that the bonds to be made as attractive
as possible, were to be first lien. In other
words, first mortgage on the British
empire and France. taking preference
over all other obligations. and were to be-
free from income tax requirements. ma
turing in five years. This report like
many others could not be confirmed, mol
was it denied.