OCR Text |
Show LCCOIEKE URGEtTTD DISCUSS EXCHANGE PROBLEM J French Financiers Hope to See United States Participating Jn Confab NEW YORK, Feb. G. Rates on demand de-mand bills Tor the English pound sterling ster-ling opened at $3.31 ibis morning and soon advanced to $3.39. This is 20 cents above the record low reached the day before yesterday. Rates on franc checks opened at 11.32 to the American dollar, up 48 centimes from yesterday's closing quotation. quo-tation. Italian lire opened at IS. 32, up 40 centimes. PARIS, Thursday, Feb. 5 Proposals that an international financial conference confer-ence be called Immediately to consider measures for the relief of the international interna-tional exchange situation find support iu French government circles. The plan has been suggested by Great Britain Brit-ain and is said to be the outgrowth of the recent bankers' conference at Am-tcrdam, Am-tcrdam, at which tho situation was considered with the conclusion that international action was necessary. Eventual participation by the United States is such a conference is expected expect-ed .by French financiers. French opinion generally Is not misled mis-led by theories but attributes the exchange ex-change situation to speculation and other causes. It is pretty well recognized recog-nized that the cause is a crqdit crisis and financiers consider without resentment re-sentment tho fact that a great phase of tho situation was opened with the shutting off by tho United States of credits to cover French purchases. oo |