Salt Lake Telegram | 1925-06-30 | Page 11 | Russian Bonds Settlement at Serious Stage

RUSSIAN BONDS SETTlEMENT AT IT SEAmUS STAGE French Holders Look to 0 Government to o I Collect on Coupons PARIS June Juno 30 Russian AP-Russian AP Russian bonds widely hold in France constituted constituted constituted an debt problem for F France anco that Is in many ways ays quite as serious as the tho money owed to the United States A joint Franco soviet commission commission commission commis commis- sion of experts hl has been sitting for weeks trying to find some compromise compro compro- miss mise between tho the French who wish to be paid and nd the Russians who would much prefer not to pay their predecessors' predecessors obligations These prewar pre Russian bonds sold In France amount to about sixteen billion gold francs on which Russia paid no interest after the revolution The French government paid the coupons in Russia's Hussin's stead during the last year of the war The French experts' experts propos proposal l one of the plans e eventually to be submitted submitted submitted sub sub- to a more mOle formal commIssion commission commission commis commIs- sion which y li try to negotiate a n settlement Is that tho sixteen billions billions billions bil bil- bil- bil lions be scaled down to ten billions and that there shall be bo a year ten-year moratorium on payments although the thee interest shall shaH accumulate during during during dur dur- ing that time Ume The Interest from 1918 to 1926 when the moratorium would begin would be paid in ih French rench paper naper francs Instead of in gold They Is not acceptable to th the Russians They propose that t the back interest should be cut from four billion to two billion fran francs s be because because because be- be cause during that interest period France and her allies aWes were trying to destroy tl the tho e soviet revolutionary government In any case ase they say commercial ommer ial t credits of ot a like amount must be given by French banks When hen any payments are made by the soviets soviet The seriousness of the lies Hes In the fact that there are several several sev sev- eral eral million small bondholders in to France many of ot whom look at their unpaid coupons and blame the French government for not collecting collecting collect- collect ing for them which Is he headed ded by Raymond Fosdick New York and brother rother of or Di Dr Harry Barry Emerson Em Fosdick Fosdick Fosdick Fos Fos- dick recently called to the pa pastorate pastor pastor- tor ate of ot the park Avenue Baptist church in New York Washington D. D C C. Philadelphia Providence R. R I r. r and Atlantic City GUy are contesting for the next conven conven- tion