Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-07-26
FORECAST
FOR LOAN To BERLIN
At ALLIED MEET INC

LONDON, July 23.-By the Asso-
ciated Press. 1.-The inter-allied con-
ference undoubtedly viii be success
full. and the Dawes plan will be Civ
on it's chance to solve Europe's eco
nomic ills, despite the present diff
culties between bankers and the con
ference delegates over guarantees Tor
the 40 100000 pounds German loan,
a. leading American financier today
told the Associated Press, before
sailing for home after having been
in the closest touch with conference
proceedings for several days.
This authority, who has followed
the Dawes plan since its inception,
declared there was no question
among bankers regarding the exist
ence of ample guarantees which Will
insure the comparatively small sum
required for the loan. The problem
is, he added, to reduce the potential
guarantees to definite forms which
will stand as a solid basis of credit.
Kellogg Offers Compromise
1t will be the conferences task
during the next few days to put in
to writing and reach a complete
agreement on some such plan on
sanctions and defaults as that pro-
posed by American Ambassador
Frank B. Kellogg yesterday, it is
stated.
The American financier was not
certain that the Kellogg proposal
would prove satisfactory to all of
the allies, but he said it would be
a basis for the conference to work
on and from it the final agreement
on guarantees would be developed.
The financier characterized the
differences which have been delay
ing the conference as trivial, and
said there was not the slightest prob
ability Of the allied delegations leaV-
ing London without accomplishing
the purpose of their meeting; name
ly. that of making the Dawes scheme
effective
L. S. Enjoys Plan
Ambassador Kellogg's plan pro-
poses that sanctions may not be APP
piled until recommendations Tor
default have been made by the agent
general or reparations and the bona
holders trustee, and also by five
members of the Dawes committee,
who would be called in. Then the
question Of sanction would be put
to the reparation commission, and,
if there was an unanimous vote IL
favor of sanctions all the allies would
join imposing them.
The hitch in the plan comes in
the possibility of the PREPARATION
commission vote not being unani-
NOUS. In that event the question
would arise as to whether the ma
tions voting in favor of sanctions
would take them, or whether they
would be held back by the nations
which had voted against the taking
fof penalties.
The only problem from the finan-
ciers point of view is that if any
nation voted in the reparation COM
mission for taking sanctions, 1t
might be difficult to restrain inde-
pendent action on the part of that
nation. AS long as this is possible, 1t
was said, the financiers consider
that the basis for credit is not sound.
Plenary Session Called
Plans for a plenary session OF
the conference beginning at )
o'clock this afternoon called for the
presentation by committee number
one of the conference OF its report
on defaults and penalties. InasmIch
as this report has met with obJec-
lions from bankers, it was expected
the conference would refer it back
to the committee for alteration
along some such lines as Ambassa-
dor kellogg proposed yesterday.
Appointment of juridicial COM
mittee which will examine the pro-
posals Of the other committees to
see if they conform to the treaty
of Versailles was another item on
the plenary sessions program.
Premier Herriot. of France, con-
ferred this morning at the Amerl-
can embassy with Ambassador KEEL
logg and Secretary of State Hughes,
after which Mr.. Kellogg and the
French premier joined with lead
ers of the other conference delega-
tions in Downing street.
EQUAL FOOTING IN MEET
ASKED BY BERLIN NATIONALS
BERLIN, July 23.--The German
National party of the reichstag has
adopted a resolution which 1T has
sent to the government demanding
that Germany shall not participate
in the London interallied confer
ence, except on an equal footing
with the allies.
The party demands that prisoners
held by the French and Belgians be
Immediately released, and eXiles al
lowed to return to the occupied ter
ritorieS.
In addition, the resolution insists
on the evacuation of the Ruhr, the
restoration of German railroads and
the recognition of the authority of
the German state; that Germany re-
ceive guarantees against further
sanctions, and that the period of oc-
cupation of the bridgeheads be cal
culated from October l. 1920.
The party declares it will oppose
all proposed settlements which do
not meet with it's approval.