Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-27
CONSULT WESTERN
BANKERS ON LOAN
-Four Members of Anglo-French
Commission Will Leave
for Chicago To-Day.
TERMS VIRTUALLY SETTLED
Entire Tentative Program Sub
mitted to London and Paris
for Approval.
TERMS VIRTUALLY SETTLED

NEW YORK. September 26.-The An
Elo French Financial Commission and
Ea stern bankers have reached vir-
tual agreement on the details OF the
proposed half billion dollar credit loan
to Great Britain and France. Four
members of the commission will leave
here tomorrow afternoon for Chicago
to confer with Western bankers over
the tentative terms.
Following arc the details of the loan
upon which the commission and the
bankers of Eastern States are in vir-
tual accord:
The neutrality-suspicious. s59o,Ooo.- :
0Ou.
The securities-joint Anglo French
notes.
The interest rate per cent, to
yield the investor about 5 IL per cent
by the notes being offered at slightly
under par. y conversion privilege at
maturity OF the notes.-the holder to
receive cash or joint glo-Frcnch NJ
teen or twenty-year bonds bearing .
per cent interest.
II became known tonight also tha:
the entire tentative program had been
submitted TO London and Paris. and
that the attitude of the home govern.
ments SO far as disclosed is one of ap-
proval. 1t is assumed that the Par
lament of both Great Britain and
France would have TO authorize the
issuance OF the loan.
TENTATIVE AGREEMENT
EXPECTED TO STAND
II Western bankers are in accord J.
ance with the tentative agreement
,,-hi An orJ he
commission have reached an under
standing. the program will stand. bar
ring unforeseen developments and its
final adoption is as good as assured.
This assertion was made to- night by an
American fnancicr who had been of the
inner circle throughout the period of
negotiations.
a member OF the firm Of j. Z. Nor
same time as the members of the COM
mission II was said.
Conferences of the loan commission
ers in Chicago are expected TO last
several days. II is Impossible. how ever,
that the time limit may be extended
to week. and that the commission
may find it necessary To journey TO the
Pacific Coast.
Si,y, Denver. ST. Paul. Cleveland, Mil
waukee and other Middle Western and
Far Western cities will he invited to
attend the Chicago conferences.
PERSONNEL OF PARTY
NOT YET DECIDED
Eeside Lord Reading. chairman OF
the commission. Sir Henry Darlington
Smith and Basil p. Blacket, and Ernest
No1 OF viii
The exact personnel OF the party had
not been decided upon late tonight
Octave IIomberg and Sir Edward
Holden probably will remain in New
York for further conferences with
Eastern bankers.
On behalf Of the commission, NJ.
Blackett tonight gave ont the fol-
low ing statement:
We have spent much Of our time
since arrival In STUDYING conditions in
the country, and have conferred with
many bankers and business men We
are now dfsirous OF meeting some OF
the leading men OF affairs from other
great ccnters. and for that purpose the
chairman of the commission and some
other members of the commission Will
start for Chicago tomorrow We have
pctii pictStu WIN tnc active
ana cordial desire for cooperation
shown by diverse interests throughout
the country, and "e feel confident that
m ARRANGEMENT will lie effected for
che attainment Of the common ends
sought. namely, 10 preserve and MAIN
tain international trade between The
United States of America on the one
hand and Great Britain and France
on the other by the removal of the i'm
pehimcnts which arise from instability
in the rate OF exchange"
Ii was definitely stated tonight that
tn" Anelo-French commission would
make no stops on its way to Chicago
1t was also frankly admitted that the
purpose of the commission in trans
ferring it's activities to the Middle
Western city was to dissipate any i'm
preston that J. l.. Morgan & Co was
running the show"