Show I TE NATIONAl CREDIT PlAN DElAY DESIRED ED I tension of Long Term Loans Not Yet Feasible Bankers Believe Br BJ DONALD C. C BOLLES NEW trEw YORK YORI April 17 Wall v-Wall ct et t bankers interviewed today ex- ex I essed the belief belle that the extension long term credits 11 to countries ing funds as d desirable as It Is Isbin bin at the standpoint of worldwide world I recovery cry must await avalt de- de I de-I I that will loo cn the purse r fines ings p o of ot investors It 1 is believed cd quite probable that e c subject t will have hac a a. prominent I Ion see ce on the agenda eDda for or the annual I eUng Ung of tho the Bank for Interim Interim- i Switzer Switzer-d pal inal Settlements en 1 at BasIc Basle Switzer Switzer- ad May 19 10 AN THOUGHT DROPPED It tt is the streets street's understanding at it Montagu Norman governor of e sank Bank of England who sailed for forme forme me yesterday after one of his pe pe- Idle visits to this country has aban aban- ned hb championship of the Kin plan for the establishment a world financial institution the pose 1 of which would be bo t to supply 1 K ig term rm capital to nations ne of the more prominent banks bank bank- s pointed poInte 1 out that however howe desir- desir 5 s the he financial world may be of ex ex- ding iding financial assistance to counes town coun- es tS' tS that need It It expansion of long I I term credits must wait walt upon the arrival arrival arrival ar ar- ar- ar rival of political and economic sta stability stability ta which will restore confidence and Influence investors to buy obligations obligations obIt obIt- of foreign governments TURN TORN EXPECTED SOON SOONA A Awaiting the time when the situation situation situation sit sit- will right Itself and permit the thc flotation of long term bond Issues Issues issues Is Is- sues he said sald that banks are doing what the they can n by carrying short term loans He Be said he believed the turn would come before the end of or the year although the events of the past fortnight t. tit with the overthrow of monarch mon mon- arch rule in Spain and the resignations res res- resignations of the Argentine and Japanese Japanese Jap anese governments go discourage an optimIstic op op- view at present I The American market for foreign loans has been quiescent for several months and bankers have hae been unable unable un un- able to detect any signs of or a a. revival comparable with the first half halt of 1930 1030 Foreign Foreign loans during the first Ird quarter of the year have been principally prin prIne of Canadian origin |