Show POWERS JOIN IN GIGANTIC TRADE UNION ONION France Britain and Germany Project Loan for Combine PLAN HUGE HUCE RAIL SYSTEM Work Proposed as Step in Eur European Rehabilitation OJ Associated Press I PARIS Nov 16 The 16 The formation of ofa a tripartite economic consortium I among mong France Germany and Great Britain and designed design dl to rehabilitate I Europe was announced today by Raymond Ray Ray- mond the born American undersecretary for national economy The first project will be the offering offer offer- ing lag of a franc loan forthe for forthe tor the electrification of ra railways railways' in Poland Rumania and Portugal II This sum is equivalent currently to The Paris edition of the New York Tribune Herald-Tribune said France and England England England En En- gland each would provide 40 per cent of the loan and Germany would contribute contribute contribute con con- tribute 20 per cent PURELY ECONOMIC I The The- consortium as described by M. M on his arrival from Berlin was said to be purely an economic arrangement but but- butas as approved by the three governments t the e program Isan isan is isan an outgrowth of the visit of the then Premier Pierre Laval and the late Aristide Briand to Berlin in 1931 Premier Edouard Herriot will be bethe bethe the titular head of the consortium i in France and Chancellor Franz von von in Germany M. M as the vice president for France France- willbe will willbe willbe be In actual change ge of operations with headquarters arters lh In F Paris ris nan minister of ri national economy will bethe bethe be bethe the German vice president The group will consist of three syndicates syn syn- first German Franco financial financial finan finan- cial Second Franco Anglo German bankers and third a Franco Franco- German syndicate syndicat designed to carry carryout carryout out recommend recommendations of the second group in the electrification projects M. M said guarantees as to Insurance security and tion Hon in Industrial bidding would constitute constitute con con- the underlying principles of the organization SEE PROSPERITY We foresee a return to by the natural process of the develop development ment of industrialization he said The Th unemployed in the smaller depressed depressed de de- pressed countries will be given work while the jobless in the larger countries coun countries countries coun coun- tries will be relieved by the operation of factories The groundwork ground work of the plan was said ald to combine French c capital pital anc and German industry S Raymond French undersecretary undersecretary undersecretary under under- secretary for national economy who will direct the French side of the fi tie fi- fi and industrial consortium Isby is American by birth He was born in Atlantic City N. N J. J the son of Jules former French ambassador to Washington and a daughter of the late Colonel James Elverson publisher publish publish- er cr of the Philadelphia Inquirer M. M later succeeded his grandfather as publisher of the news newspaper news news' paper He continued as such until after atter af at- ter he was elected to the Fren French h chamber of deputies The since has been sold out of the Elverson Elver son family and M. M has bas bea become become be be- come a French politician He is serving serving serving ing his second term in the chi m chamber er of deputies Because of services r rendered ren n- n dered to Premier Herriot he was Continued on Pass Pan Two 5 I POWERS POWER JOIN IN GIGANTIC TRADE UNION Continued from Pan Page One awarded a post in the present cab cab- inet met A great friend of torm former r Premier Pierre Laval M. M accompanied M. M ML Laval val on his trip to Washington Wash Washington ington in the fall all of 1931 1031 When he assumed office last June M. M said he stood for close business 5 cooperation between France and the United States and that this would be one one of the central policies of ot the Herriot government J. J |