Ogden Standard-Examiner | 1920-10-20 | Page 12 | Bankers Plan Big Export Firm

BANKLRS PLAN S100.000 000 Corporation io Finance Nation's Foreign Trade Is Approved WASHINGTON, Gel. 20. Approval ar a profeoaal.to organlaa a iiuo.ooo.-- rp6ratloh to finance the nation's ( foreign trade was given today by the American Hankers" as-noclatlon. In con-venlioit con-venlioit hi Sp. t I'm itdenl Hawei waj ., ut aorized to i-nl a in. . ting oi li iiik-'ib ..ml business men to work out pluni fi tlw? forma-, th.n ot such a corpormtJon under the provisions ... i tin' r ..i.iiv enacted Edge law, as propeeatl n the report of the1 ai aciatlnjB'g eontmittee on commerce tnd merchaol marine, which was pi e- sclileil today- (.Hi. VI BOND lsl E. Proposal for oracnizatlon of a $100.-oon.uuo $100.-oon.uuo coi iioratioii for foreign trade financing under the auspices of the ,,. ricaji ttankertf aesociatlonj was put before thai bofli bj us deparuhepl of commerce and marine. By cooper-a cooper-a ii;; with merchant.-, manufacture!.". tporters and producers, the report n i .mi taking advantage of the Edg. law. the cotporatlon couid Issue a lol-iion lol-iion dollars In debenture bonds for sals in the United Stutee add the extension of i reditu abroad. John Me I ugh. had man of the . .mm M . presented the report whloh reoom mended step.-, to put the corporation corpo-ration Into business operation by Jnn-uarj Jnn-uarj i and solicitation of subscriptions to its capital stock b) the public. 1 UIGI CORPORATION lil ST, e recommend the organisation under Oil plan of a large i orporatlon us preferable to u smaller one." the i- pert said, because it will attract tin best axparl talsat, will have the cffi-clem cffi-clem ittni hlng to large organizations, will give the utmost protection to the Investor, and sriU readily create a market mar-ket for Its debentures by its avowed purpose ot treating thrift." The report said the economic future of the United States was bound up lu th' future of our trade relations with other peoples." Il Was further suggested that the corporation directorate bp made up from ni. ill. i ideographical anas lo I litis, of Hie fetleral res, r . bank .lls-'rit .lls-'rit ! -