Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-03
AMERICAN LIKELY
WORLD BANK HEAD
Conference Opens Today on
Final Adoption of Young
Preparations.
By Radio to The Star and Chicago Daily
News. Copyright, 1880.

By Radio to The Star and Chicago Daily
News. Copyright, 1880.
PARIS, France, January 3 (C.D.N)-
An American probably will be chosen
head Of the new Bank of International
Payments at the conference called for
the final adoption Of the Young repara-
tons plan, which opens today at The
Hague.
Furthermore, It is expected tina;
American banks will be requested to ar
range Immediately to sell to investors
in the United States a large allotment
OF new German reparations bonds.
When the Young plan was negotiated
In Paris some skepticiSm was expressed
regarding the sale of the bonds because
the New York Stock Exchange was then
booming, with call money at 10 per
cent, and the public was declining to
buy anything but common stocks. After
the November panic it is thought Ameri-
cans will be glad to invest in sound Ger
man bonds which probably will yield
about 6 per cent.
Conference Prepared For.
Unlike the first Hague conference. at
which Chancellor Philip Snowden of
Great Britain aStonished the world by
vigorously ending the British entente
with France, the present conference has
been carefully prepared for by diplo-
matte interchanges which seem to have
brought a complete agreement between
France, Great Britain and Italy. It Is
believed, therefore, that the negotia-
tons will succeed. The French even
hope that all will be over in 10 days, so
that the delegates may proceed directly
to the meeting of the League of Nations
Council In Geneva January Is.
The Germans are less optimistic,
though even in Germany nobody seri-
ously doubts that the plan will 60
through. The British are reported to
be particularly eager for rapid achieve
ment, so that a way will be prepared
and favorable atmosphere created for
great London naval conference.
Nevertheless there are q number OF
minor points on the agenda. The bank
statutes must be completed. Not only
the president, but also the general man.
ager, must be chosen for this institu-
ton. The British, II they cannot have
this place themselves, would, It Is
known, prefer q Dutch or Swiss man.
ager to French or German one.
Annuities to Correspond.
The scale of annuities must be re-
vised to correspond with the new Ger
man-American agreement whereby Ger
many will pay the United States Army
of Occupation costs directly in7tead OF
through the international nank. 1t is
feared here that this complete official
withdrawal Of the United States from
the Young plan after having participant
ed fully In the Dawes plan may en-
courage Germany to hold out on a
number Of smaller points for trading
purposes. However 1t is realized that
the American official policy is dictated
largely by fear Of the American Senate
and that the administration is not real
ly unfriendly toward the bank
The French intend to raise the ques-
ton of sanctions. 1t is thought that q
compromise can be reached by letting
the World Court decide in case Of a
German default whether this default is
willful, hence lawful grounds for the
putting into force of the sanctions pro-
Vided for by the treaty of Versailles.
(Copyright. 1900