The Birmingham age-herald., 1924-08-03
CREDIT ASSIGNED
 TO AMERICANS
(COntinued From Page One. )

Stefani, the Italian finance minister, framed the invitation to Germany which Mir. Macdonald, as chairman of the conference. dispatched. So elated are the delegates over tOdays success that they are not worrying about de- velopments after the Germans arrive It is expected that Dr. Stresemann, the German foreign secretary and his col leagues will desire to state Germany's s case very fully and they will be given ample opportunity to do so.
 American official circles believe the Germans are coming to London and in a reasonable frame of mind. Official in formation to that effect was received by d high American authority tonight One point which Dr. Stresemann sure ly will raise is the question of military evacuation of the uhr. The Americans expect he will demand this be brought about more speedily than by the two year departure by progressive steps which has been informally agreed upon by the French, Belgians and British during the conversations held outside the. present conference.
 Take Needed Rest
 Completion of the conference labors today enabled the delegates, with the exception of Pfmier Macdonald. to get much needed rest The premier hur- ried from the foreign office to the colonial secrtary and William T. Cos grave, head of the Irish Free State on the Irish question. Ambassador Kel- logg went to Coombe Hill for few hours of golf; Premier Herriot, very much worn by the arduOus work of the last week, sought a physician. Mir. Logan swung abroad a. train for the channel on short visit to Paris while most of the other delegates are seeking quiet in the country. Mir. Macdonald went to Chequers court late tonight
 Ambassador Kellogg, who is far from the youngest of the men at the confer ence, showed little signs of fatigue, al- though he had attended every plenary session and meeting of the chief dele gates. The conference has kept him in White hall until o'clock nearly every night since it started and often neces- sitated early morning rising for diplo- matic breakfasts, which are popular with British premiers.
 When the conference adjourned this morning there were crowds waiting to catch a glimpse of the delegates. The newspapers recall that there were sim liar crowds on the very same Saturday a decade ago when Europe was at the edge of the World war; which brought the problems this conference is trying to settle. Monday is the tenth anni- versary of Great Britain's declaration of war.
 The conference was unanimous in the recommendations of experts submitted to the committee studying the question of Germany's possible default under the Dawes plan and the sanctions to be applied. The reparations commission, which constituted the first judge of Germany's faith, is enlarged by the ap- pOintment of an American citizen to be named by the commission if it can reach an unanimous vote, otherwise he will be named by the president of The Hague court. In the application of sanctions it is stipulated that If a de- fault by Germany is established the separations commission will forthwith give notice of such. default to each of the interested powers and may make such recommendations as to the action to be taken in the consequence of such default as it may think necessary"
 May Appeal Vote
 From any vote that is not unanimous, any member of the reparatiOns com mission who has participated in the vote may within eight days from the date of the said decision appeal to a Commission composed of three impar- tial and independent persons whose de- cisiOn shall be final. The chairman of the arbitral commission, it is stipulated, shall be an American citizen.
 This concession to the principle of arbitration was granted to placate the bankers opposition, but the right to separate action by France in the event of German default, which the bankers steadily opposed as jeOpardizing the security of investors in the German loan, would seem to be maintained in the phrase setting forth that ''all ex- isting rights of the signatOry powers under the treaty of Versailles, read with the Dawes report, are reserved.
 If Germany shall be declared in de- fault" it is further stipulated, "the signatory governments, acting with the consciousness of joint trusteeships for the financial interests of themselves and of persons who advance money upon the lines of the Dawes plan. will con fer at once on the nature of the sane tiOns to be applied and on the method for their rapid and effective applica tion."
 The provision whereby all Germany's public assets shall constitute a lien for the loan in event sanctions are applied for default, never contested, is re- tained.
 Arrange Transfers
 The experts committees report re- garding separations transfers which the plenary session also adopted. contains five resolutions. The first asks Ger many to give assurances that it recog- nizes the transfer committees right to purchase any commodities on an or dinary commercial basis after the treaty of Versailles obligations have been full filled. Coal, coke and dyestuffs are particularly mentioned.
 Other assurances are asked that no maneuvers in Germany should prevent the allies from purchasing needed goods.
 Another resolution recommends that