Palisadian., 1924-08-01
MORCAN'S HELP
FOR ALLIES READY
Bankers, He Says, Are Not Seek
ing to Impose Political Views.
but Giving Expert Advice.
GOES TO LONDON ON HOLIDAY
But II Conferees Ask for His Opinion
on German Loan He Is Prepared to
Give lt-"Cautious Optimism" In
British Circles.

New York.-On the eve of his de-
parture on the Minnewaska for Eu-
rope. J. P. Morgan issued a state
ment in which he set forth the re-
lations of his firm with the discus
sions now under way in the Inter-allied
Conference in London. While denying
that his trip had any connection with
the conference, he admitted that IL
invited to give his views on the kind
Of loan that could be arranged for
Germany with an assurance Of Amer
ican participation he would readily
comply with the request
The statement was as follows:
am sailing for my annual holiday,
in accordance with plans made months
ago. My trip has nothing to do with
the London conference. Our position
with reference to the matters now
being discussed In that conference is
very simple. We have been requested
by the allied Governments to advise
as to what in our opinion are the
necessary bases for the sale of Ger
man bonds to American investors. In
response to that request we have
nor is it within our province, to make
any political suggestions, much less
to attempt to enforce any political
views. We addressed ourselves solely
to the question asked us, and it is for
the allied Governments to determine
whether what we believe to be the
conditions of the American invest
ment market can be met.
It goes without saying that as bank
ers we should not ask the American
investor to buy German bonds unless
and until the Allies have in their own
time, in their own way and for their
own reasons determined upon policy
which will, in our opinion, give se-
curity to the bondholders. II this very
simple and obvious fact is borne in
mind, it will. l think, be found that
most of the questions now under
discussion answer themselves.
Mr.. Morgan presented his state
ment to reporters who earlier in the
week had asked for his views on the
conference and whether or not his
vacation trip would be spent in part
in considering how a German loan
could be arranged with sufficient ap-
peal to draw $200,000,000 from inter.
national investors. His first reques.
was that the reporters, il they had
any influence with their editors"
should exercise such influence in try
ing to save him from a "bombard.
ment by photographers at the pier"
Mr.. Morgan's pronounced aversion
to photographers is well known.
While he has no Qualms in facing
barrage of questions as fast as ten
or more reporters can fire them at
him, he instantly looks for cover as
soon as camera makes it's appear
ance
Asked IL he thought his vacation
would keep him abroad until after the
plan for German loan had been for
mulated, he smiled and waved the
question aside with sweeping ges-
ture. Asked again, he referred his
interrogation to his statement. In re-
sponse to another question as to
whether he would take part in the
deliberations, he admitted that IL
those who were discussing loan prob
lens were to ask for his opinion he
would give it, of course. Just what
this opinion would be and whether
he thought it likely that his advice
would be requested, he would not
say, explaining that he thought his
statement covered the whole matter
quite adequately.
On Mr.. Morgan's arrival London
will have within its limits the mot
powerful array of American fnanciers
that ever visited that city, and this
concentration of banking powers will
serve to emphasize-so Ner York
bankers said yesterday-the great i'm
portance that America, unoficially,
will play in solving the world prob
lens which are the legacy of the war.