Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1917-05-01
U. S. To Make a
Loan 10 Belgium
AMOUNT PLACED APPROXIMATE
LY AT s15o,ooo,ooo
AT BELGIAN REQUEST
Discussion of French and Italian Needs
at Conference of Secretary McAdoo.
Assistant Secretary Crosby, the
P Italian Ambassador and Members
of the French Commission.

Washington, April 30.--In addition 70
loans to France and Italy totalling be-
tween 5000, ,000. 900 and 5000 600 900 the
= Cnlted states viii soon make A loan
10 Belgium, the amount Of which is vet
to BE determined. Unofficial estimates
of the size of the Belgian loan place II
approximately at $3.50 600, 900.
Administration officials have been in
a receptive mood toward an appdca-
ton for Belgian loan ever since the
war finance measure became a Ia "
but formal application for 4 loan was
not made until today, when the Bel
glan minister, Baron de Cartier, called
upon Secretary McAdoo and placed be-
fore him tentative estimates as to the
relief desired
Discussed Details for Three Hours
Secretary McAdoo and Assistant
secretary Crosby discussed details
with the minister for more than three
hours. The tentative estimate was moi
dlVulged but it is understood thar ~
contains provision for meeting in part
the Belgian governments needs ir
maintaining large number of refugees
domiciled in France. in addition 10 re-
qulrements of military nature.
Further Conferences to Be Held.
Further conferences will be held be-
fore the estimate Of Belgian needs is
placed in final form for consideration
There is said to be a wide dfverneucs
between the first estimates Of the va
rious entente governments as to their
requirements and their final esti-
mates, made after a process Of elini-
nation during conferences with treas
ury department officials
French and Italian Needs.
Discussion of French and Italian
reeds continued today in conferences
among Secretary McAdoo Assistant
secretary Crosby, the Italian ambae-
sador and members of the French coru
mission
more than an hour in consultation with
Secretary McAdoo.
Other members of the French com
mission discussed the proposed loans
Informally with the federal reserve
board at luncheon.
Funds for French and Italian Loans.
Indications are that the Italian and
french loans will be made within fbs
present week. the time limit announce
6y Secretary McAdoo last week. The
Belgian loan probably will not be made
Until somewhat later dav. Funds for
the French and Italian loans will be
raised by a further offer Of treas11r--
certrhcates. expected within the next
rev DAYS. In this connection Secre-
tary Meade has under consfderaffry7 q
suggestion made by the federa1 re
serve board looking 10 the Eradtjsl
notation Of the forthcoming bood
issue.
si-Weekly Offering Of Certificates.
The suggestion provides for a bi-
weekly offering of treasury certffcatcs
IN blocks OF $50. 100000 to $3.50 0OO.01n
according to the apparent ability Of the
banks ready to absorb them. The GER
tlhcates may be exchanged for the
bonds when the latter are issued. The
suggestion also contempiates the offer
Ing of certificates to highest bidders
no bid below par 10 he accepted
Reports from seni-o official sources
that Mr.. McAdoo was preparing to or
fer another block of certificates tomor-
row were said to be premature as 10
the date Of the Offering.
Announcement Of the terms Of the
bond issue. it Is expected. will he made
within a da yor two. unless there i=
delay in reaching a decision as to cer-
tain phases as vet undetermined