Show TRADE BANK PLANS I POSSIBLY WILL WILLI I BE CHANGED Suggestion Made for Much Smaller Capitalization n. Than Originally N Named a ed NEW NEV YORK April 23 On On the occasion of the tue national foreign trade council convention convention convention con con- at Cleveland during the first week of May there will vUi be a special Meeting of bankers and ana Industrial men identified with the organization committee of the foreign trade financing corporation The purpose will bo be to give a II clear description of what has been accomplished In the way of or organizing organizing or or- the corporation and the prospect of future development This will 1 be tho first important meeting of or the full fun organization committee since the plan was as launched last fall In Chicago It is expected n a report will wilt be submitted ty the committee on policy recently appointed appointed ap foP- ap- ap pointed to determine the advisability of proceeding with the corporation at present Bankers are Informed of a proposal to start the corporation with a much smaller capital than the originally stated Although about is stood to have been subscribed and that such subscription was made on the understanding understanding under under- standing that it it itIs Is not effective unless and until subscription shall have been received and for the entire It ItIs ItIs itis Is believed to can be counted on on under the circumstances from certain banks to enable the corporation to sta start rt oper operating operating- This plan would be feasible In view of the pending amendment to the Edge law to allow instalments of capital of Edge Edg law ba banks to be b. payable at the discretion or of directors In Instead of in 10 30 per percent percent per percent cent payments every two months Senator l Edge dge has Introduced a n bill which pr provides prides that when the initial payment of at 25 per of capital amounts to the balance of or the stock stoel subscription shall be payable p on the call tt cf f the directors Bankers believe bellevo the pan to start the corporation corporation cor cor- with a capital is the most practical al proposal yet made The only other two Iwo wo I Edge dge law corporations so far or organized organized organized or- or were started with more modest capitals the New ew York concern with 2 and that in New ew Orleans with Meanwhile those Interested in the organIzation organization organization organ organ- of the tho Foreign Trade Finance corporation arc aro not letting up In efforts to enlist support among banking and mercantile concerns throughout the tho country On nearly every occasion where the country's country's country's coun coun- try's foreign commerce Is a matter of discussion discussion dis die speakers are on hand to expound th the th advantages of the enterprise The National Association of or Manufacturers ers era has sent each fach of its members a 0 circular indorsing the corporation Th The Th American Manufacturing Export association gives a a. page pate to the corporation each week In its bulletin and has sent a subscription blank to every Similar publicity I Is given by the Merchants' Merchants association and National Association of Credit Men len in Its magazine Enabling legislation has been necessary in about twenty states to permit banks banis organized or or- i. i rider inder t slate ate late charters to subscribe to stock of the Foreign Trade Financing corporation Twelve states have passed de desired desired Ie- Ie sired ired II legislation within two or three weeks Until this was wait done an aggressive stock stoel ceiling campaign n could not be made in the states in qUI question Uon |