Salt Lake Tribune | 1910-02-20 | Page 43 | Greece May Appeal to Morgan for a Great Loan

GREECE MAY APPEAL TO MORGAN FOR :c r A GREAT LOAN :: Special Cable to The Tribune. X ATHENS. Feb. 10. Greeco needs money and it is possible the great y American financier, J. P. Morgan. X will bo asked to lioat a loan of InO,- y 4. 000.000 drachmas (530,000.000). 1-or v political reasons intimately con-4. con-4. nccted with a desire to remain o.v 4 good terms with Turkey, Great y 4- Britain and Germany seem anx- y X loua to place every obstaclo In tho y 4. way of tho loan. Therefore tho y X Greeks turn to America. France, y 4. It is said, would undertake to v j. finance the loan, but makes very y 4. onerous torins concerning the man- y 4- ner In which the money is to bo ex- y 4- ponded. Tho interest will nc guar- y 4 anteed bv the revenue of the rail- y J roads constructed out of tho product y 4. of the loan, tho revenue derived r I- from tho surtaxes on tobacco and -r 4. alcohol, the new revenue of the y 4- sugar monopoly, and tho surplus-y 4- of tho revenue attributed to the y 4- servico of the public. dooU Tho y a, loan Is specially destined for rail- y 4- road construction and other public y works and to the payments of the y X budget deficits, lroin 1S7S to 1900. y X The government is also authorised y X to raise a further loan of C0.000.000 4-X 4-X .drachma at the rate of o.OOO.OOO y 4. drachmas per annum for the re- y 4- domptlon of ths national Tank notes y X and to assure the necessary gold 1 4 reserve. This, too, may be offered y 4- to America. v r 4Hrl,H'I'r''"'H,'4,'u,,I"I,,?"r