Bisbee daily review., 1920-12-15
IF
 ARMAME IS
 LEAGUE $ PLAN
Assembly Recommends Pow CTS Reach Agreement As
 To Plans for Future
FRANCE OPPOSES IDEA
International Credits Board Is Also Proposed to Aid
 In Building Up Trade

GENEVA. Dec. 14.-(By the Asso-
 ciated Press)-The limitation of arm iaments by the powers for the next two years by agreement among them
 was acted upon favOrably today by
 the assembly of the league Of nations
 The matter came up i'll the form of
 inc report Of the disarmament com mittce, the limitations clause IT which
 was amended to merely a recOEirocn- dation before the report wi.; adopted 1 With respect to tHe limitation clause, Leon Bourgeois made the res lervation that France was obliged to restore her armaments that had been worn out by the war The Belgian and Spanish delegations at the after noon session made similar reserva- ton regarding the limitation of tne:r armaments during the next two years. Notwithstanding the reservations. France, together with Sra il, Chile Greece, Poland, kumani1 and Uru- quay voted against the limitation clause.
 H. Branting, Sweden. pointed oSt that the reservations cid not change the situation, aiace & resolution on that subject was only and could only be recommendation by the dele gates voting therefore, who are not understood as committing their gov. ernments.
 The important subject of an inter national credits organization came be- fore the league council, which has ap- proved the plan of the Brusseis fi- nancial conference. Two proposals dealing with the plan were adopted by the council, one relating to the creation of committee to deaf with credits for raw material and unfin- ished products and the other provid- ing for an international commission to examine the securities offered.
 Credit Plan Approved
 GENEVA. Dec. 14.-(By the Asso- ciated Press)-The league council has approved plan for an internationaH credits organization as recommended by the Brussels financial conference While agreeing not to undertake forth with the setting up of an expensive organization without the certainty that either borrowers or lenders will make use of it, the council authorized the economic committee to obtain the services of a competent business man Iof high standing to prepare the con- stitution of the international commis- sion and establish in detail a plan of international credits in order to give the scheme as soon as possible practical application.
 The council adopted two proposals dealing with the plan. The first re- lateS to the creation of a committee or three lawyers and three business men, whose duty will be to propose legislative measures with the object of Facilitating in the various countries interested the realization of finish ing credits
 These credits have to do with the shipping of raw materials and unfin- ished products from one country to another for finishing.
 The second proposal provides for the institution under the auspices of the loans of an international commits sion charged with giving effect to the plan of international credits on the basis recommended by it's originator. Dr. TerMeulen of Holland. Would Examine Assets 1 According to this plan the govern ments of the countries desiring to | participate shall notify the commis- sion as to what specific assets they
 have prepared as security for the commercial credits to be granted by
 the nationals of the exporting coun- i tries. The commission after an exam ination of these assets shall deter mine the gold value of the credits
 which they would approve against the security of these assets.
 The participating governments shall then be authorized to issue bonds as collateral security for the amount of the credits accorded. Assigned as-
 sets shall be administered by the par ticipating governments or by the in
 ternational commission as a majority
 of the league may determine on the proposal.
 In cases where the administration
 of assigned assets is in the hands of
 a participating government the inter
 national commission at any time tnay. and in the event of default shall re- quest the participating government to transfer the administration O. the as-
 sets to itself. A participating govern
 ment may appeal to the council. the decisions of whicH on these questions shall he binding
 CLEVELAND, Dec. 14. Mixed
 hogs sold at S9.90 per hundTedweight
 at tte Union Stockyards today. This
 .N.-