Norwich bulletin., 1915-09-10
Arranging for Big
Foreign CreditLoan
TO BE UNDERWRITTEN BY AN
AMERICAN SYNDICATE.
LOAN OF HALF BILLION
An Eminent Delegation of Anglo
French Finaneiers Are Expected to
Arrive in New York Today to Deal
With the Situation.

New York, Sept. 9.-The first of a
series of negotiations through which 1t
Is expected to float a big foreign credit
loan In the country, popularity believed
TO be in the neighborhood of $500. .000,-
600, will be held here tomorrow after
noon in the private library of ]. P.
Morgan.
Strongest Banks and Trust Companies
Prominent New York financiers, in
Guiding the presidents of some of the
city's strongest banks and trust COM
pantes. will be present, informally rep
resenting the American syndicate of
moneyed interests which probably will
attempt to underwrite the loan. On
the other hand, representing the Brit
rsh empire, France and perhaps Rus
sta, will be the six members of the
Anglo-French commission appointed to
deal with the situation here on behalf
of their governments.
Foreign Finaneiers Due Here Today.
The members of this commission are
believed to be aboard the British
steamer Lapland. which is due to dock
here tomorrow forenoon. Upon their
arrival they will be met by New York
bankers and, in all probability by a
representative of the treasury depart
ment, acting unoff1cially They will be
the guests of Mr.. Morgan during the
afternoon and at 2.30 o'clock will be
given reception in his library, at
which they will meet some of the men
who hold Americas purse strings.
No Programme Announced,
Beyond the days programme no an
nouncement was forthcoming tonight
as to the commissions plans. 1t was
learned. however, that tomorrow's
meeting with New York financiers
probably will be the first of a number
of meetinsg at which the members OF
the commission will be brought face to
face with representative men of the
American financial world from every
section OF the United States. Shoufc
the stay OF the commission here be
somewhat prolonged, it was considered
likely that bankers from Philadelphia
Boston. Chicago, St. Louis, st. Paul
| New Orleans, Atlanta, Memphis, Kan.
sas City, Denver, San Francisco anC
other big cities would be invited t.
visit them in New York and discus!
the details of their undertaking.
Jealousies to Be Discarded.
There will be no attempt, it wa
said, on the part of any one group O
/ powerful bankers to monopolize tn,
/ commission or to attempt to direct it
| energies. Jealousies of the financia
| world and the conflicting interests o
some OF its dominant figures. so far a
| possible, will be subordinated. it wa
said, in q whole-hearted attempt L
meet the commission half way in il
endeavors to adjust the present com
pltcated situation That, at least. wa
the programme tonight
Will Be Given Widest Seope.
l. AS leading New York financiers hav
indicated that the commission would b
given the widest opportunities to IA
miliarize itself with every phase of tn
situation from the many-sided Amer
lean viewpoint, it was assumed tha
the labors Of the body here would ex
tend over a considerable period G
time and that a vast amount of pre-
liminary work would precede actua
negotiations as to the terms of tn
loan. A visit by the commission I
some of the most powerful financis
centers of various sections of tn
United States was believed within tn
realm Of possibilities.
| Eminent Delegation of Financiers.
| No more eminent delegation of finan
ciers has ever crossed the Atlantic O
a single ship. in the opinion of banker
here. The chairman of the commits
sion, Baron Reading, lord chief justic
of England, formerly attorney genera
of England, is regarded as one of til
foremost flnanciers of his countr-
Since the beginning of the war he ha
been in intimate touch with the al
fairs of the British treasury and ha
helped, in no small degree, to shan
the empires financial policy.