Show EXPORT TRADE PLAN NOW NO IS BEING OU Executive Committee for 1 Financing Corporation Is Appointed I NEW V EW YORK Dec 23 ohn JOhn John chairman of ot the tho committee on organization tion ton of ot the Foreign Trade l Financing corporation announces the following members of or the executive committee Fred I. I l Kent ent vice president Bankers Bankers' Dankers' Dankers Bank Dank ers ers' Trust company Now 10 York City Julius Julus It H. Barnes Barnes Amos company com corn pan pany pan Duluth Minn Paul M. M Warburg New v York City Thomas Thomaa B. B Wilson V president Wilson V Co Chicago Ill 11 Lewis K g. Ierson chairman of ot tho the board Irving lr National hank bank New York City Herbert Myrick treasurer Orange-Judd Orange company Springfield Mass Charles A. A Hinsch president t. t Third Fifth Third National bank Cincinnati Cincinnat O O. OGeorge G George orge Ed Kd Smith president Hoyal Typewriter company New York City Mr McHugh as chairman of oC the organization or or- organization committee was empowered at the tho first meeting of oC that committee commit commit- tee held at at- Chicago December 11 1 to name an executive committee of or nine members including himself as chair chair- man This executive committee which has actively ely act taken up its duties dutes Ischar is char charged ed under tinder the organization committee com corn with wih the wort working out of ot various matters relative to 10 the proposed proposed pro pro- posed corporation As these matters maters are settled L dun due u 1 announcements ments Will wil Ui be iA u L u announcements ments wil Ui u made The organization committee of ot thirty thir thir- ty t- members was constituted cons by the conference held at Chicago last week by five rive hundred bankers business men and producers from all al parts of or the country The conference unanimously went vent on record as approving as-approving and recommending recommending recommending rec rec- rec- rec the Immediate formation of or the corporation Discussing the export situation lien Hen Henry I ry Clews says One definite result of the Brussels financial conference has been reported during the past week tn In ci the action acton of the Geneva conference of the league of ot nations in undertaking to establish a plan for International extension or guarantee of credit credi The plan now evidently evidently evi evl denty dently In mind is to provide for the exportation of ot raw or partly party finished material to countries where it I is to be worked up or finished payment being received in the form of ot return shipments shipments ship ship- ments of goods manufactured from such material Another phase of the plan Is li th Practical guaranteeing of the obligations of ot borrowers by the governments governments gov gov- of ot the countries in tn which any Immediate application although a new session of the Brussels conference has been culled called caled to c consider details and nd German reparations Meanwhile the export and foreign ere cre lt lit has continued to be beme me toe ce central n t ral factor in In t the te ln me toe ce central n t ral factor in In t the te ln problem The action acton of the e American Bankers' Bankers association committee In settling set set- upon a plan for the formation of a corporation to go into existence early eary In 1921 may open a way of or relief for some classes of ot trade Business however with not a few foreign countries is practically suspended because of unfavorable exchange exchange ex ex- ex- ex change and corresponding credit dif dif- American exporters have been unable to get payment for their shipments shipments ship ship- ments either because consignees were not in position to pay at the high prices at which the goods were sold or because of the very unfavorable exchange ex ex- change which had developed particularly par par- in some of the South AmerIcan Amer Amer- ican jean states The effect has been In injurious in- in j jurious because It i has thrown such shippers back upon the banks for larg arger arg- arg er aid th than n they would otherwise have required while it I has also had an adverse adverse ad ad- verse influence upon the shares pf manufacturers man man- who were engaged to any considerable extent In foreign Congress in inthe the tons endeavor to re relieve re- re lieve the farmer of the results of price reductions has had before it i a resolution resolution tion designed to reestablish extensions of or credit by y the federal reserve tern tem The measure has passed the senate sen sen- ate atE but should it be accepted also by the tle lower lowEr house is likely to be vetoed by y the president S |