The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-06
CONSORTIUM TO AID
CHINA TO ORGANIZE
Will Be Perfected by Delegates
of Four Powers in Meetings
Here Next Week.
ASSEMBLE ON MONDAY
Conference Will Consider Ten
tative Plan Adopted in
Paris in May, 1919.
ASSEMBLE ON MONDAY

! The final organization OF the inter-
I national consortium for the financial
assistance OF China will be completed at
meetings which will start IN this city
next Monday, according to information
obtained yesterday from Thomas w. La
mont. OF ]. p. Morgan s. Co. The jap
anese delegates 10 this series Of i'm
portant conferences are here. and the
British and French delegates win arrive
this week on the Olympic.
(, The foreign delegates are al follows !:
| British-Sir Charles Adds, S. F. May
| ers. r. @. Witt and w. f. Leyeson !;
| French-Rene de la Chaume. Henri
Mazot and Georges Picot: Japanese-M
X. Takeuchi and II. Ichinomiya- The
American group, which 10 made UP OF
thirty-seven banks and banking houses.
will be represented by the managing
committee OF the group. which consists
/, OF the following bankers: Thomas w.
Lamont Of J. p Morgan & Co. Nor
timer L. schiff Of Kuhn. Loeb Co.
James A. Stillman OF the National City
Bank. Charles H. Sabin OF the Guaranty
Trust Company. Albert II. Wiggin Of
the Chase National Bank. Frederick w.
Alien Of Lee. Higginson 4 CO., and John
Jay Abbott of the Continental and Com
naercial Trust and Savings Bank OF Chi
cago.
Others in attendance will include
Charles II. Whigham OF Morgan. Grenfell
O. Co, London j. Ridgely Carter or Nor
gan, Harjes & Co. Paris. and Frederick
". Stevens, the recently appointed resi-
dent representative of the American
group in Fekin. The Chinese Ambassa-
dor. " X. wellington Koo, will extend
any assistance which the conferees may
require.
Sessions Of the consortium will be held
in one OF the conference rooms OF the
Chamber OF Commerce OF the State OF
New York, which has placed its facilities
at the disposal Of the foreign visitors
Tho initial meeting occurs on Monday.
and others presumably will continue
Throughout the week, except on Columbus
Day. which is holiday. The Bond Club
has invited the delegates TO be Its guests
at a special luncheon to be held week
from to-day. On tho evening Of October
10 the mana ging committee of the Ameri-
can group will give dinner to enable all
representatives of the American group
hanks throughout the country to meet In
formally and socially the foreign delega-
lions.
While the main business OF the confer
ences will be 10 give final approval to the
tentative plan of organization adopted at
the Paris conference in May, 1919. thus
communicating the consortium. the con-
serees are expected to progress sufficient
IS to adopt a tentative programme for
the extension of loans to China, and they
may go far enough to take UP a specific
proposal Agenda, setting forth the
principal topics to come before the con-
ference for discussion and settlement,
have been prepared.
Banking groups Of nations other
than France. England and japan are
seeking membership in the consortiurn
| and action on their applications will be
| taken. Among other topics to be con-
sidered probably will be China's general
! requirements, matters relating to cur
rency reform. development OF railway
| transportation IN China. possible extern
zion Of the Hukuang Railway project
&C. II 1t proves feasible tentative
| programme for the future financial as
| sistance OF China may be drawn up.
The forthcoming meeting OF the con :.
| sortlum follows the return from the
J far East OF Thomas w. Lamont, who
| last winter at the instance OF the Amer
! lean. British and French groups visited
| Japan and arranged with the Japanese
I barking group for It's entry into the
consortium on the same terms as the
! other banking groups, thereafter visit.
| ing China, and rendering on his return
| 10 this country a report Of his observa-
! tons there 20 the Western banking
groups.