New-York tribune., 1920-10-15
Cuba Appeals
For Il. S. Aid
In Sugar Crisis
Bankers and Refinery Men
Will Hold Meeting To-day
on MenocaPs Request That
u. S. Interests Fix Price
Want Money Substitute
Medium of Circulation Is
Sought in Financial Tie
Up Laid to Moratorium

From The Tribune's Washington Bureau
WASHINGTON, Oct. 14.-Represen-
tatives of banking and sugar interests
in this country will confer here to-
morrow onsways and means of meeting
the crisis in Cuba hr uget about by the
collapse of speculation in sugar.
he conference, it is understood,
grew out of a suggestion from Presi-
dent Menocal Of Cuba, who to-day ap-
pealed to the United States govern
nlent for assiStancc IN meeting the
present difficulties. Ihe Presidents
message, VIII was refarSed rs the
State Deparimert - tae Cowmerce md
Treasury apartments. was imn.edi-
ately taken up and plans were 7oade
for to-morrow g conference. hetAer
the conferees viii attempt to comply
with President Nsnoca reque That
American refners sake joint action in
fixing pTlco for the coming cuban
crop could NOT be earned here to-
nigh
Prirats advices rom Cub to-day
SAID tha- Nie financial situation there
was Still acute, ai-hsegh 1he mora
torulr q the bank kad a qu'-ting In
fuenco
S. 100000 Seut by Banl1s
Americsn fnancia houses interested
in Cuba ava rC- efsEsreo IN working
out plans 1r -lao.rg the ISLANDERS to
resume buslncse without uNdue strain
when the II rat1s ur decree IS Lifted
New Yor1 ana Canadian aanks which
have brarehes ira Cuba hove sent ap-
proxiinateiy SIS 100000 n American
money ,p Cuba sirle tr0 crash oc-
curroi There te enable choir branches
to meet eurrorr demands
HAVANA. Oct. l4.-Bankers who
couteIred Wednesday with President
Men cal proposed thai. banks be al
lowed to ,ssue sugar certificates ex-
charge ut banks after the sugar
had been deposited w-h the govern
men. and tlat n rovernment guar
ante that og,ovod chccks will be paid
by fUnc J. I'd IN banking houses.
Opinion here is general that steps
INST soou be taken looking to a modi-
fcatior IF ne moratorium decreed by
President Menocal early in the week,
as in IS present form, it is pointed
out, banking operations are virtually
dustry of all kinds are beginning to feel
the effects of lack of available funds
with which to carry on business and
pay salaries and wages.
Factories and sugar centrals have
already started to reduce their forces
because OF inability to obtain 1undS
for the payrolls. Fear is expressed
that an indefinite continuation of
present conditions probably would lead
to general movement in that direc-
tion.
Several millions of dollars consigned
to banking firms reached Havana to-
day and more is said to be coming,
which. in a measure, has tended to re
store confidence on the part of the
public.
New York Market Demoralized
Discussions have been going on in
New York between financial men and
sugar interests relative to stabilizing
the market here, which has been
greatly demoralzed by the dumping Of
raw sugar by spectators who wero
caught in the general fall of prices.
It was reported yesterday that
banking pool Of $8,000,000 to $10,000,-
600 had been organized to take over
and carry distressed raw sugar on
basis of 7 cents pound. Two leading
financial institutions were named as
being the principals in the organiza-
tion of the pool.
At these banks it was denied that
they were a party to any pool arrange
ment. Elsewhere bankers admitted
they had heard talk of a pool, but
knew of no definite agreement that had
been entered into.
DENVER, Oct. 14.--The wholesale