davidaulloa/AmericanStories huggingface dataset:
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1931-06-26
Zaujem sSlovenskyy
Den je vel'ky
Vystava vysiviek bude pestra.
Vysivky prichodia vo vel 'kom po-
cte. - Okresny Sbor bude zvec-
neny v Albume Amer. Slovakov.

ScnOdZa Okr. SbOru SlOV. lIlgV
a spolkov zaujme XII. Sloven-
skeho Dna, odbyvana utorok
vecer skole osady Sv. Cyril!a a
Methoda bola Ease pekne obosIata
Spolkami a klubami. Pritomni bo-
Ii: M. j. Palkovic, predseda; M.
j. Lesnak, tajomnik a F'rantisek
Hudik, pokladnik SLOW. Dna; pi.
Maria Novotny "a Cislo 1863. I.
X. S. z. j.; pi. Maria Dolak tiez
"a c. 169. IKSzJ.; Andrej Dolak
"a Sbor 21l. X. Sokolov Polit.
klub; pani Anna Estok a pani
Anna Layshok "a Cislo 159. P. S.
Il. j.; pani Alzbeta Skokan 70
Struthers; PAM Alzbeta Geitzi "a
Cfs. 156. IKSZJ.; Michal Ryhar
Jozef Grancaj "a Odbor Gil. n.
S. s., Andrej Benedik "a Sbor
1913. Ligy c. SO. S. E. j.; Mar
tin Lipka "a Cislo 26O. IKSJ. ::
Matej Martinko "a G.. 3OS. IKSJ. :;
Andrej Tarapcak "a Cislo $40.
IKSJ.; Jan Zajac a Stefan Hri-
MAX "a SLOW. hudobnikov; pani
Julia Danko "a ('iS. 1856. IKSZJ. :;
pani Helena Budaj "a c. 18. Kad.
SLOW. X. jed; pani Antonia Ma
ruskin "a Venice "a. X. SokOliek :;
Juraj Murdzak "a Sbor Al. Slov.
Ligy; Jozef Yavorsky "a Cislo 25.
/. K. S. j. Rozalia Hudak "a V.
K. s. z Campbell.
Po precitani a prijati zapisni-
ce podavane boly zpravy vybo-
rov. Pani Antonio Maruskin ozna-
mila, ze vfsivky sbieraiu usilov-
he, ze co den to viac ich pricho-
di. Juraj Murdzak podal zpravu
SLOW. svadbe. Oznamil, ze vSetci
Su ochOtni prist ba mono este
Wac. Br. Jan Zajac oznamil, ze
by chcel mat ma Is minut kon-
cert. Bolo prijatf, ably koncert
boI. VIbory pozvania mayorov
"a recnikov podaly zpravy, ze po-
vinnost' svoju vykoncily. Predse-
da NJ. J. Palkovi6 poziadal tych,
ktori majii listky ma radio my
slia, re vsetky nevypredaju, aby
mu Mich doniesli nazpat ma bu-
ducu sch6dzu. Vybor ohlasiek po-
dial zpravu, re mu praca ide po-
tesitel'ne a do l. julia bude nou
hotovE. Zprava prijata.
Bolo navrhovant a prijatt, ably
DOL polozeny Cloud speaker" do
parku, ably obecenstvo mohlo do
bre pocut' recnikov hudbu. To
bude stat $4,000. Tieto peniaze sa
usporily ma tom, re toho roku ne
bude recnik z d 'alsieho mesta.
Bolo oznament, ze siroty |. X.
S. j. nebudd pritomne na SLOW.
Dni, aby nam zahraly, lebo siro-
ty sa uz tozisly ma vakacie a ami
do Clevelandu nepojdu hrat'.
Bol dany a podporovany navrh,
aby Okr. Sbor boil danI do AL
bumu Amer. Slovakov a ma ten
cieP bolo odhlasovane $25. W.
Dor, pozustavajiici z M. J. Lesna-
ka, FIR. Hudika Juraja Muir
dzaka spise kratku historiu Okr.
Sboru do Album.
Bolo prijate, ably budnca scho-
dza bola IA. julia. Vyboru progra-
mu bolo nariadene, ably sa sisiel
90. j1na medzi IL. a /. hod. ma
poludnie v redakcii Yo. SLOW. No.
vim a spisal cely program.
L.
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1931-06-26
KOLEKCIA DAM

Uradovna okresneho pokladni-
ka rozposlala tieto dni $4,000
upovedomeni danovnikom, ze je
cas- na platenie polrocnych dani
z majetku. Okolo $7,2OO,OO0 ma
byt' skolektovane.
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1931-06-26
Steelton vyhral
campionstvo

Vit'azstvo prvej polovice pripad-
10 Steeltoneano1h porazkou Ian
singvillcanov ID ku 8. sokoli, St.
Stephens Canpbellski slovaci
vit'azmi v nedelu.
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1931-06-26

PiSe: Michal Kornick. tai
Vysledky nedepu.
Steelton Ia. Lansingville 8.
Strutherski Sokoli 5, Horvati 4.
st. Stephens 8. Strutherski Slo-
vaci 7.
Campbell. Slovaci ). Mad 'ari g.
Stav ciat v Lige:
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1931-06-26

|
den zostane zaplsany zlatymi H.
terami V historii nasich katoli-
ckych SlOvakov v Amerike, lebo
dnes sa tuna odbyvala prva gra-
duacna slavnost' vo Vysej Skole
Otcov Benediktinov, prvom to
slovenskom ucilisti pre- chlapcov
v tomto kraji. Tridsat' Studentov
dnes iispesne dokoncilo svoje Stu
dia tomto naSom slovenskom L.
stave. Pc styroch rokoch, odkedy
sa zacalo vyucovanie V tejto sko-
lie, dozila sa nasa americka Slo>
vac prveho ovocia svojich snah,
svojej prace, a svojej krest'an-
skej dobrOsrdecnosti. w cd sty-
roch rokov slovenski rodieia po-
sielaju do opatery slovenskym O.
tcOm Benediktinom svojich NADIA
nych synkov. A dneS tito sloven-
ski synovia Sv. Benedikta pred
stavujii tTmto rodicom ameri-
ckej Slovaci tridsat' mladikov co
prvych svojich chovancov gradu-
antov. Prva to chlnba nasich a
merickych Slovakov. ktori tax
stedre obetovali ma Maticne sbier-
ky pre- nase slovenskt vyssie IL
tilistia.
Slovenska Vyssia Skola sv. Be
nedikta tymto ukoncila uz stvr-
ty skolskr rok. Ia prve diva roxy
tento nstav nachadzal sa v budO-
We farskej skoly osady sv And
reja Svorada Clevelande. Avsak
diva roxy tomu, ke,P sa Otcovia
Benediktini prest'ahovali ma ma
jetok i'm zadovazeny stedrou po-
mocou Slovenskej Matice Skol-
skej, ma Buckeye Road East
Boulevard, pokracova!i vyuto-
vanim ma svojom novom p6sobisti.
Slavnost' zakl'ncenia tohoto
skolskeho roku, ako al prvych
graduacii, sa ciastocne zacala uz
vcera vecer. 16. juna, s malym
banketom ma rozlucku. Tento
kratky veGierok sa odbyval v tu-
najsej studentskej jedalni, Il:
Gastnikmi ma nom boil vsetci Stu
denti byvajiici tuna skolskej
budove, aRo al ich professor. Pri
tejto prilezitosti, po smacnych "a
'kuskoch, boil vyvolavani vSetci
STUDENT 0 slovo vzpomienky ma
svoje rozlicnt zkiisenosti tuna vo
skole. A veru, bolo to zaujimave,
poc1vat' tych mladych, zivych a
ko striebro recnikov. Mladsi Stu
denti sa ldcili cd svojich predsta-
venych Profesorov i cd svojich
spoluziakov iba ma niekol 'ko me-
siacov letnych prazdnin. No, ale
graduantom to pablo t'azsie, lebo
mnohi Mich sa l1cili cd svojej
Alma Mater ma vel a dlhsi cas-. Ma
konci oslovili vsetkych pritom-
nych professor: Ivan KramoriS
NIL, FIR. Gilbert Stopko OSB.,
Jan Meluch, Flip Hrobak, a do
STONY p. rektor, rev. Ivan Kra-
morris, OSB.
slavna graduacna sv. omsa. Velp.
F. Dubos slavnostnym kazatel 'om.
Dnes rano o deviatej bola' sfu-
zena "a gradhantov i studentov
slavna sv. omsa studentskej ka-
plnke. Vsetci Studenti, ako al ce-
Ia Fakulta vyssej Skoly mali IL
cast ma tejto omsi. Omsu sllzil
rektor, dostp. Ivan Kramoris,
OSB. Diakonom Dol dostp. Ven
delin Kravec, OSB, - subdiakonom
FrJ Jan Zeman, A obradnikom
FIR. Sylvester Prise, OSB. Kazen
pri tejto slavnej prilezitosti NAL
dostp. Frantisek Dubos, duchov-
ny osady sv. Cyrilla a Methoda
v Lakewood, Ohio. Velebny pan
Dubois vel'mi prilezitostne pouka-
zal studentom, zvlastne vsak
Egraduantom, ze oni s1 akoby "a
kladnym kamenom slovenskej kul
t1ry slovenskeho krest 'anskeho
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1931-06-26

Program oslavy 25. vyrocia "a
lozenia Spolku Sv. Jana Krstite-
tel'a, Cisla 1873. Pennsylvanskej
R. Gr. Katol. Slovenskej Jedno-
ty v Campbell, ktora sa bude od-
byvat' teraz nederu, %. jilna,
v chrame osady Sv. Jana Krst. a
v Hamrakovej hale ma rohu Will
son a Washington ulic, je nasle-
dovny:
Udovia a udkyne toho Cisla pri-
stnpia ku sv. spovedi sobotu,
81. jnna a v nedel'u pri vel 'kej
sv. omsi ku sv. prijimaniu. To sa
tyka vsetkych 1dov 1873. Cisla.
Potom nedel'u po obede o
pol druhej hodine vsetci ndovia
Oddielu Mladeze Cislo 14s. Pan
nenskeho Oddielu Cisla 1O6. P. 8.
Z. j. pojdu ma spolo6nii hostinu
do Hamrakovej haly. Tam Rev.
Jan Hamrak predriekne modlit-
bu. ia MIN bude mat rec hlav-
ny predseda Penn. SLOW. Jednoty
p. Jan Krydlo; tiez Jan Kadilak
NIL, zakladateP 14S. Cisla a And
rel Dzuracky ml., zakladateP. Po-
tom povedia rec zakladatel'ky
1O6. Cisla Pam. Odd. Pennsyl-
vanskej Zen. Jednoty Maria Zee
rod. Vargo a Anna Domanic rod.
Mazarik a pani Maria Slifka, I'D
kyna P. z. Jednoty a hi. tajom-
nieka /. K. s, L. J.-n,Rev. Jan.
Hamrak zakldci tato hostinku
pre- mladez.
Vecer o s. hodine zacne sa ban
ket Cisla 13S., ktory odbyva ma
pamiatku svojho 25. vyrocia zalo-
zenia. Program pre- tento vecer je
nasledujIei:
Predseda Cisla 1873. Jan Matvej
privita host'ov, spolubratov a spo-
lusestry cele obecenstvo odda
vedenie Rev. Janu Hamrakovi,
duchovnemu osady Sv. Jana Kr-
stitel'a, ako toastmajstrovi. Rev.
Jan Hamrak predriekne modlit-
bu po .modlitbe je vecera, kto-
"a bude bohate prichystana a talk
bud1 recnit' nasledujuci hostia
zakladatelia Cisla 13S.:
Jan Kadilak ST., zakladateP.
Rev. Jozef Krispinsky Cd osa-
dy Najsv. Trojice V Struthers, O.
Andrej Bakalar, zakladatel'.
Spev spevokolu osady Sv. Jana
Krstitel "a sprievodu sbormaj-
stra prof. T. Belavicha.
Rev. Jan Krusko, duchovny O.
sadly Sv. Otca Nikolaja v Hasel-
ton.
Jan Krydlo, hi. predseda Penn.
SLOW. Jednoty.
Hon. j. HI. C. Lyon, sudca O.
kresneho s1du.
Spev a hudba. Spevokol osady
Sv. Jana Krstitel'a pod vedenim
prof. T. Belavicha. ~
Pani Maria Slifka, hi. tajomni-
6ka I. X. S. Z. Jednoty. - r
Rev. Jozef Kostik, duchovny O.
sadly, sv. Alzbety Haselton.
Hon. Joseph E. Julius, mayor
mesta Campbell.
Anton M. Palkovic, hi. spravca
Katolickych Sokolov.
Pavel Jablonovsky, predseda
hi. dozorcov P. S. j.
Rev. julius Dolinay, duchovny
osady Sv. Petra a Pavla Struth-
ers, o. ..
aSpev a hudba ma piano. Spevo-
kol osady Sv. Jana Krstitela, pod
vedenfm prof. T. Belavicha.
Jozef G.. Vascak, Glen Hi. S1du
I. X. S. j.
Jan Garancovsky, hi. podpred-
seda Sojedinenija.
Jan sarosi "a sbor 26. Kat. So
kola.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08
CHICAGO LACKED REAL
BANKS UNTIL 1885

Statisticians Of the Chicago Associa-
ton Of Commerce have been digging into
the early history Of banking in Chicago
and that it was not until 1885 that any
regular banking facilities were offered
In what then was struggling village,
the outgrowth of Fort Dearborn. In
that year the Second Bank of the State
Of Illinois was persuaded to establish
q branch here. Opposition developed,
however, and in 1910 the State Legisla-
ture decreed that the Chicago branch of
the bank should be removed from the
city.
First authentic records show that in
1856 there was employed in banking
in Chicago by private bankers, brokers
and incorporated banks a total capital
fund of $670, 900. Since then, the city's
Importance as a banking center has
increased by leaps and bounds. Total
bank deposits at the present time ap-
proximate $4,000, 100000
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08

also used three billions of foreign
credit. The inevitable result was the
crash and the penalties suffered today
In discussing remedies Mr.. TrayloT
warned against the reinoculation OF
the old disease, namely, the use OF
more and more credit. He questioned
the wisdom of spending a billion and
a half dollars this year on public i'm
provements which are nonproductive
and heighten the burden of taxation
He warned against government inva-
sion of private business and the pros
pective government assaults on rail-
roads and public utilities as interior
ing with the normal processes Of re-
coVery.
AS more certain contributions to re-
covery, Mr.. Traylor suggested that
business men and the government sit
down to the formulation of a con-
sistent national policy; slower
amortization of the war debt; CO.
operation among leaders of business;
preservation of the human equation in
industrial and financial consultations;
earnest consideration of consuming
capacity and wage scale in the light
of the mechaniZation of industry and
synthetic elimination of workers, with
real wages" adjusted to prices; bet
ter control of credit as responsibilities
weighing upon bankers and the Fed
eral Reserve and, finally, a return to
simple thinking and simpler living.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08
EXPECTS VETERANS
TO SETTLE DEBTS
Credit Expert Sees Aid to
Merchants in Soldier Bonus
Payment.
Special plspa teh to The star.

Special Dispatch to The Star.
NEW YORK, March ENTRY Of the
United States Government into the
small loan business, regarded as signi-
ficant feature of the soldiers bonus law,
viii serve the purpose of retiring an i'm
portant part of the individual floating
debt of the country, debt which totals
over $12 900, 000,0 900 and which includes
open account debts, overdue rent, taxes
iIlstaiment debts and other personal
obligations. DR.. Franklin w. Ryan, vice
president of the National Cash Credit
Association, who makes his national
estimate of personal debts in an eco
nornic bulletin just published, states
that somewhat more than half of the
500, 00O, 900 which war veterans are ex-
pected to borrow from the Government
will 60 to liquidate debts and obliga-
tons already incurred.
Loans May Reach $500, 0OO, 900.
Pointing out that Gen. Hines, admin
istrator of veterans affairs, has indi-
Gated that about $780, 100000 may be
borrowed by veterans before the end OF
September, DR.. Ryan, who was formerly
assistant chief of the finance division
of the Department of Commerce, says
that 1t is almost certain that the vol
ume of these loans outstanding will tota
$700, 1000, 900 some time during the Sum-
mer. Such a total would be larger
than any single variety Of personal loan:
in the United States, except the 3d.
800 ,000, 900 in loans on life insurance
policies now outstanding.
"It Is this enormous total Of $12 AGO.
600, 900 of current indebtedness which Is
the basic cause of the tremendous wave
of borrowing on the part of the ex-serv-
t. .zff
ice men are seeking loans aggregatine
hundreds of millions Of dollars has mys-
titled many Of our leading statesmen
but when we find that at the present
time each family in the United States
Is In debt on the average more thar
$3.50, it is not difficult to assign rea-
son for at least 60 per cent of this new
$700, 900 900 Of personal financing.
Big Sum for New Purchases.
1--WE have found from sampling stud
les of more than 100000 in persona,
loans that fully so per cent of all small
personal loans Of all kinds are caused
by previous indebtedness"
This retirement Of debts by borrow
ing from the Government, DR.. Ryan
believes, Is certain to be beneficial tc
business. While probably one-third tc
one-half of the debts to be paid of will
be overdue open account debts to retail
stores and one-flfth or more will go to
liquidate instalment debts, large part
of the estimated $700,000,000 will be
used for new purchases. If $400, 000,-
900 is used in retiring outstanding debts
then this residual borrowing for new
purchases will be around $500, 900 900.
"There is no doubt" DR.. Ryan con-
cIudes, that this will help thousands OF
retailers even more than the liquidating
of frozen accounts"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08
Committee FORMED
TO AID BONDHOLDER
Action Taken in Cases of Three
North Carolina Firms Now .
in Receivership. 800.

Special Dispatch to The Star.
NEW YORK, March IA protective
committee has been formed for the
guaranteed first mortgage 6 per cent
gold bonds Of Continental Mortgage Co,
Universal Mortgage Co. and Federal
Mortgage Co., all North Carolina. cor.
porations which have gone into receiv-
ership, according to an announcement
made today. The Central Bank & Trust
Co. Of ASheville, N. c., original trustee
for these bond issues, failed and its
affairs are In the hands of the banking
authorities of North Carolina, The
Equitable Trust Co. of Baltimore has
been appointed depository for the Bond
holders Protective Committee.
The committee is composed of Alan
II. Andrews, chairman, of Frank L. An
drews & Son, Fall River, Mass: Harry
M. Blair, president of the Associated
Bond g. Share Corporation, New York,
and George j. TfnSley, vice president,
Equitable Trust Co. of Baltimore. M.
E. O'Connor Of Baltimore is secretary
of the committee and its counsel are
Charles p. Coady and Samuel K. Smith,
both of Baltimore, and David H. Blair
of Washington.
The announcement of the formation
Of this committee states that holders
OF the bonds are widely scattered
throughout the country and cannot
effectively act individually in the pro-
lection Of their interests.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08
CONSISTENT NATIONAL POLICY
FOR u. S. TRADE is ADVOCATED
Banker Warns Against "In-
vasion of Private Business"
by Government.
Urges Sane Use of Credit as
Means of Avoiding
DepreSSionS.

Melvin A. Traylor, former president
of the American Bankers Association
and now head of a big Chicago bank
in speaking on 1.-THE Price of Pros
perity," recently presented graphic
picture of his views of the fundamentals
of business recovery. He believes the
country is paying too high a price for
seeming prosperity and traces the stock
market crash in 1929 and present con-
ditions back to the beginning of the
World War in 1914.
He pointed to the staggering total OF
more than a hundred billions of credit
obligations hoated by the warning ma
tionS. all of which, he says, was utterly
wasted and none of it used for construc-
tive purposes. The hectic incentives of
war led to credit operations wholly
divorced, except in the United States
from the gold standard basis. There
was undreamed of expansion in industry
modify prices which no peacetime de-
msnd could justify or sustain.
Mr.. Traylor reviewed the collapse OF
postwar activities, marketing of an i'm
mense number of new securities and the
tremendous expansion in consumers
installment selling, applied to luxurieS
as well as to necessities.
1T requires no genius to see," con-
tinued Mr.. Traylor, that If installment
buying were practiced by all the peo-
pie for a period of five years, with
each years purchases anticipating the
normal buying power OF two years,
that in FIVE years the total normal
buying power from income would be
substantially exhausted"
Then came the phenomenon of in
creasing demand without increasing
commodity prices; the false standards
of living induced by speculative profits
taken out of the stock market and
the increasing velocity of imitation
which not only exhausted our own
available resources of liquid credit but
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08
AUTOMOBILE TRADE
WATCHES UPTREND
Manufacturers Gratified at
Seasonal Sales Gains,
Reports Given.
Special Dispatch to The star.

Special Dispatch to The Star.
DETROIT, March THE period
from now until the end of March
will determine the course of the sea-
sonal upward trend that the auto
mobile industry began to feel in Feb
ruary.
What the factory officials are anxious
TO ind out is the extent to which it
WI! push production and sales levels
Dack toward normal. Improvement so
Tar noted has been gradual over a
three months period beginning in De-
:ember and lasting through January and
February.
Extent Of Increase.
1t has brought successive increases
approximating Is per cent for each
month from the low point of pro-
auction and sales which prevailed al
the beginning OF December. This Is
credited to companies that introduced
new models for renewed merchandjsi,1o
campaigns starting January /, and the
material gains have gone to competitors
OF Ford in the low-priced field. Listed
with these come Chevrolet, Pontiac,
Essex, the Chrysier Six and other lines
that sell In the price groove above
model A, but which, with terms and
other factors figured in, have come
directly into Ford's competitive class.
The Ford sales volume has felt the
ERECT ever since the first of the year.
Therefore his rivals are expecting some
sort OF counter move. If the leader
ship associated with the lowest priced
car is to be restored and maintained
throughout the Spring season.
AS the present situation of the Ford
Co. precludeS the possibility of a model
change or any radical departure in the
design OF the present model A, the
officials of the other factories antici-
pate either price revision or a change
in selling policy.
Sales Statistics.
The extent to which the Ford sales
volume has been affected may be Judged
by figures covering 80 States during
January, which showed Chevrolet reg
istering 20,335 units against 17,o43 for
model A. The Chevrolet schedule for
March is calculated to exceed 10000
units. February for this company show
ed 67,3l8 or 3,448 less than January. but
with three less working days in the
month. On the basis of 1880 registra-
tons, Ford had 40 per cent of the sales
of the entire industry, while Chevrolet
had % per cent.
Copyright, 1879
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-08
NEW ITALIAN LOAN
OF S19O,O(O,ODOS SEEN
Coupon Rate of 6 IL Per
! Cent Is Predicted in Wall
Street Circles.
Special Dispatch to The Star.

NEW YORK, March 7-Rumors to-
day in investment circles were to the
effect that the much-diScusSed loan to
the Italian government will amount to
$3.50 900 ,000-some say even more-and
that the coupon rate vii! be 6ia per
cent. The present dollar loan, nego-
| tiated by Italy in this country in De-
cember, 1925, with a z per cent rate,
was issued at 94ia and is now selling
fractionally above par.
The understanding is that only a
moderate proportion of the proposed
italian loan will be offered in this coun-
try, where 1t is believed that, following
the experience in 1925, it would be well
absorbed by Italians resident In the
United States.
Total, $s1O,OOO,OOO.
The various Italian loans foated here
since 1925 represent present outstand-
ing amount of about $310, 900 900. There
are Is different issues listed on the New
York Stock Exchange or traded in the
outside markets. Nearly so per cent OF
the total dollar amount is in the gov
eminent loan, which has been reduced
by annual sinking fund operations to
about So, 900 900, and by $56, 100000 OF
the City of Rome and City OF Milan 612
/ per cent loans fioated here April, 1927.
The next largest amount Is that OF
the Italian public utility companies,
which became large borrowers in the
American market three or four years
ago and have securities out here to a
| total of SIPS, 900, 900. A great deal Of
| the water-power development in Italy
under the Mussolini government has
been carried through by American cap
ital.
Loans have also been made to several
of the italian automobile companies.
These, with other industrial issues, ag-
gregate a total Of $25,000,000.
Compared with the outstanding loans
| to Italy of $4,000, 900 are loans TO
Belgium in dollar form Of less than
5000 900 900 and French loans outstand-
ing in the amount Of about 1920, 900, 900.
A high percentage Of the latter has al
ready been repurchASed by French in
veStors, so that it Is doubtful II so per
cent of the Freach dollar loans out
standing remains in the hands Of
American investors.
Would Set Precedent.
Assuming that the loan to Italy
amounts to as large sum as Sl5O,OoO,-
900, It would outrank in size most for
eign loans hoated in the United States
in the past 10 years. There have been
several for 500, 900 900, including those
to the French government and to Italy
and a loan in 1924 to Germany OF
$I1o, 900, 600. The so-called Young plan
loan last June was for a total of $780,
| 900 900, of which the American portion
was $98 $50 900. Before the United States
went into the war Great Britain and
France negotiated loan for $500, 900, =
900 In this country. This was mainly
| taken by the banks and by wealthy in
dividuals and had short maturity. The
present United Kingdom Of Great Brit
ain and Ireland 51z per cent loan for
$143, 587, 900 was issued here in Febru-
airy, 1917.