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Show HALF A BILLION IS NOW WANTED Estimate of Amount of Credit For the Allies is Reduced. Now York, Sept. 16. The proposed billion dollar loan to Great Britain and Franco shriveled today In the gossip of Wall street to half it previous pre-vious size. Five hundred million dollars was the sum set as the amount which American Am-erican financiers would lend. This figuro seemed to bo uniform in a half dozen or more reports current in the financial sections. At least ono financier in close touch with the situation was quoted as saying that this sum would bo loaned. Tho commission com-mission Itself and its American financial fi-nancial aides had nothing to say to this phaso. In some manner not understood tonight, to-night, the situation was different from that of yesterday. There waa an almost unanimous opinion among bankers whoso views could be obtained ob-tained that a billion dollars was not needed and that in naming this vast sum at tho outset, the commission sought to place Itself in an advantageous advantage-ous trading position. Hero Is tho way some financial authorities au-thorities regarded tho situation: Will Make Counter-offer. Tho commission asked for a billion bil-lion dollars. It did not expect to get the full amount To this request bankers would naturally mako a counter-offer say a half billion. Thero would then follow a series of parleys. The commission would reduce re-duce tho amount by fifty to one hun-dredmillion hun-dredmillion and the American bankers bank-ers would add a few handsful of millions mil-lions to a previous offer. After a period of negotiations, thoy would reach a common figure, say by splitting tho difference. This then would be agreeable to both sides and definite terms as to tho interest rate, duration of the loan and other details de-tails could be arranged fairly soon. The men who have come over here from Great Britain and Franch, in the opinion of Wall street are master players in tho game of world finance. Like all good players, they do not betray be-tray by their words what their intentions inten-tions are, nor do they place all their cards on the table at once, as Wall street views it Consequently, It is expected that there will bo many inoro developments before It wilL be seen what they are really striving for and whether they will win. A do.en or more prominent New York bankers talked with tho commissioners com-missioners today at a meeting place whose whereabouts was not disclosed. J. P. Morgan and two of his partners part-ners Henry P Davison and Dwight W. -Morrow, were among the number. nn . |