New Britain herald., 1915-09-14
AMERICAN BANK
 NEED OF RUSSIA
Letter From Abroad Recommends
 Institution n-Behr Is Due

tension of Russian trade through personal visits to American comercial centers, and better means of transact ing business through the founding of Russian-American bank in Russia are, among the chief objects of visit to this country by MT. Alexander Rehr, vice president of the Russian American chamber of commerce at Moscow, who will have the coopera- tion of the bureau of foreign and do- mestic commerce. of the department of commerce, in his tour of the coun- try.
 MT. Behr sailed from Christiania September 3, and as an official of the Moscow chamber, will confer with trade organizations and their most active members, at all the important centers of this country laying the foundations fo, future growth of com merce between eastern Europe and the chief ports of North America. He will be met at New York by repre- sentative of the bureau of foreign and domestic commerce who will con- fer with him regarding his itinerary and will assist, through the facilities afforded by the bureau, in gaining as wide a hearing for him as possible.
 Russian-American Bank.
 The project for a Russian-American bank in Russia has been brought to the attention of Consul General John H. Snodgrass at Moscow, and he has received a letter signed by the presi- dent, vice president, general manager and secretary of ian4Am erican chamber of commerce, in which they say, in part:
 "In our endeavors to enlarge the existing commercial relations be- tween the United States and Russia, we are confronted with questions of extended credit, means of securing more practical methods of payments, and the need of a medium whereby matters of transportation, insurance, standing of firms, and other confi- 6ential subjects could be treated to the satisfaction of those in the United States who are not acquainted with Russia and is people, and of Russian merchants not acquainted with exist ing conditions of trade in the United States.
 
 garding the best means to insure the success of the important undertaking which we are enedavoring to estab- fish on a firmer basis, we have ar rived at the conclusion that the es- tablisliment of an American bank in Russia is of the greatest importance.
 Banks Have Served Well.
 we do not overlook the fact that, for many years, business transactions between the United States and Rus sia have been served, and certainly server very well by existing banks in this country. covering yearly millions of dollars, and that such banks are even at the present moment ready to meet all requirements of any specific industry, trade or personal enterprise Yet we are under the impression that were there purely American bank established here with the purpose first and foremost to render the necessary assistance in all the various phases of pecuniary transa ctfonE between the two countries, to serve as medium when opportunity may arise in the investment of capital, and to offer to the business Centers of the United States a certajl moral guaranty that their interests are safeguarded by an institution founded for the special purpose of trading with this country, it would prove to be the nucleus of an enormous business which could be developed.
 'In expressing our views on the es- tablishment of an American bank in this country, we advocate the most important measure that concerns the life of our institution, and naturally we should be most willing to direct all work through the medium of such a bank.
 "The imports and exports of both countries have been reaching enor- nous figures not taking into account any development that can certainly be expected after the war. It might be sufficient to state that banks in this country pay yearly dividends of 10 to IA per cent. but we are ready to give you at any time more de- tailed information. We request you to place our wants before the finan- cial circles of the United States with the object of establishing an Amer ican bank in this city with which we could cooperate in matters relat- ing to our Chamber of Commerce.
 Judging by the interest and desire shown by the commercial centers of both countries to greatly extend the