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Show NEGOTIATING ' FOR LOAN OF S5QQ,0QQ,0QQ American Bankers Will Meet With Representatives Representa-tives of Allies to Arrange Ar-range for Sum. NEW YORK. Sept. 9.- Baron Reading, lord chief justice of England, Eng-land, chairman of the Anglo-French commission of bankers, coming here to float a tig foreign credit loan; Sir Edward Holden. a London fin- ancier, and Sir Ernest Cassel, also a prominent British banker and philanthropist, phi-lanthropist, are passengers on the steamer Lapland, which is due to dock here tomorrow, according to a wireless message received late tonight. to-night. ' NEW YORK. Sept. 9 The first of a series of negotiations through which it is expected to float a big foreign credit loan in the country, popularly believed to be in the neighborhood of $500,000,-000, $500,000,-000, will be held tomorrow afternoon in the private library of J. P. Morgan. Prominent New York financiers, including in-cluding the presidents of some of the city's strongest banks and trust companies, com-panies, will be present, informally representing rep-resenting the American syndicate of moneyed interests which probably will attempt to underwrite the loan: on the afher hand renrespntinff the British empire, France and perhaps Russia, will be six members of the Anglo-French commission, appointed to deal with the situation here on behalf of their governments. gov-ernments. ' The members of this commission are believed to be aboard the British steamer steam-er Lapland, which is due to dock here tomorrow forenoon. Upon their arrival ar-rival they will he met by New York bankers and, in all probability, by a representative of the treasury department, depart-ment, acting unofficially. They will be the guests of Mr. Morgan during the afternoon, and at 2:30 o'clock will be given a reception in his library, at which they will meet some of the men who hold America 's purse strings. To Meet Financiers. Beyond the day "s programme no announcement an-nouncement was forthcoming tonight as to the commission 's plans. It was learned, however, that tomorrow's meet-in? meet-in? with New York financiers probably wHl be the first of a number of meetings meet-ings at which the members of the commission com-mission will be brought face to face with representative men of the American Ameri-can financial world from even- section of the Unitefl States. Should 'the stay of the commission here be somewhat prolonged it was considered likely that bankers from Philadelphia, Boston, Chicago. Chi-cago. St. Louis, St. Paul, New Orleans, Atlanta, Memphis, Kansas City, Denver, Den-ver, San Francisco and other large cities would be invited to visit them in New York and discuss the details of their undertaking. Vhere will be no attempt. It was said, on the part of any one group of powerful power-ful bankers to monopolize the commission commis-sion or to attempt to direct its energies. The jealousies of the financial world and the conflicting interests of some o( its dominant figures, ao far as possible, will be subordinated. It was said, in a whole-hearted attempt to meet the commission com-mission half way in its endeavors to adjust ad-just the present complicated situation. That, at least, was the programme tonight. to-night. To Study Situation. As leading New York financiers hav indicated that the commission would b Riven the widest opportunities to familiarize fa-miliarize Itself with every phase of tra situation from the many-sided Amertcar viewpoint, it was assumed that the labors la-bors of the body here would extend over a considerable period of time and tha' a vast amount of preliminary work wouk precede actual negotiations as to th terms of the loan. A visit by the com-mission com-mission to some of the principal financia renters of various sections of the Unite statep was bettered to be within tin realm of possibility. No more eminent delegation of flnan rier have ever crossed the Atlantic on t tingle ship, in the opinion of bankers here. The chairman of the commission. Baron Heading, lord chief Justice of Kna-land. Kna-land. formerly attorney general of England, Eng-land, is regarded aa one of the foremost financier of his country. Since the be-E?nrjftig be-E?nrjftig of tre war he has been in Intimate Inti-mate touch with the affair of the British Brit-ish treasury and has helped, in no small degree, to shape the empire's financial policy. His associates represent both the governmental and financial elements of Great Britain. Have Big Reputations. Sir Kd wa rd H olden is ma naming director direc-tor of the London City and Midland bank. Sir Henry Bahingfon Smith, former president presi-dent of the Bank of Turkey, has a reputation repu-tation almosi world-wide as a erea tor of financial policies and an xpert on finance. Basil B. Blackett. the fourth member, if a treasury expert who aerom-Pnted aerom-Pnted Sir OeOTSC Paish to America last fa1!! on hi minslon to adjust the foreign exchange situation then, and contributed largely to hiti success. France Is sending two of her ablesrl financiers. Octave Momherg of the foreign for-eign office and Ernet Mallet, regent of the Bank of France. When these men sit down tomorrow In Mr. Morgan's library they will face a financial problem of proportions never assumed as-sumed before in the western ienitsphere. No! only Is the Immediate future of Great Britain. France and Russia Involved, but. in the opinion of leal financiers, the continuance con-tinuance of t he prosperity of American exporters likewise la vitally affected. Whether Great Britain and her allies will continue their lavish Spending In the markets of the Cnlted States, these financiers assert, depend almost wholly un the auci-ess of the commission's work. T'ncheeked buy Ing j they declare, cannot continue unless a way Is found 'o pa y the bill", and the onlv plausible wa y seen ahead at the present time Is to nd Great Britain. France and Russia the money with which to buy. How much money Is needed, upon what terms It will be borrowed and what collateral col-lateral will he offered, how long th-mammoth th-mammoth loan will run. and numerous other details, are what the cnmmlfslon will endeavor to adjust. |