| Show LOANING MONEY TO EUROPE united states has become a creditor nation more money in the united states than abc bankers can handle prominent financiers Interviewed Russia said to be seeking to borrow in this country chicago doc 19 A number of chicago bankers and financiers have been interviewed in relation to the reported application of one of the european powers for a heavy loan in tho united states isaac G lombard president ot the american national bank said 1 I hardly think that this country will make a loan to russia at least not a large one there Is surplus money here but not enough to warrant a large national foreign loan america has made many foreign loans but not to governments rates here are about na low as anywhere at present ernest A hamill president of the corn exchange national bank said there is no question but that this country is becoming so rich that its surplus money will seek investment abroad the balances in its favor are growing larger and it Is accumulating wealth at a rate that is unprecedented money consequently Is easier here than elsewhere for this reason though the proposition of making a loan to a foreign government is unprecedented in this country it seems natural and altogether probable in case such a loan is made chicago is in a position to provide a considerable sum of it there Is no doubt but that it russia wants a loan this would be the natural place to seek it said J R forgan vice president of the first national bank the american money market at present is the easiest in the world the new york banks last week added to their accumulated surplus and the chicago banks some of the mexican states are now taking steps to borrow in this country I 1 have no knowledge beyond the newspaper reports that russia is about to secure a loan anywhere and comment upon the probability of the truth of that report would be mere conjecture john C black president of the continental national bank said it Is as sure to come as tomorrow that america will become a great money lending nation like england and the greater nations of the old world the united states is accumulating wealth twice as fast as any other country it would occasion no surprise should it be reported that russia was seeking a loan in england or france and should not in case of this report that russia may seek a loan in america abas L hutchinson vice president of the corn exchange national bank said the report that russia is seeking a loan in this country may be true but seems to me improbable at least such a move Is unprecedented the mere starting of such a report indicates a change in the financial status of this country among the nations of the world elbridge G keither president of the metropolitan national bank said the idea of any loan to russia does not seem probable chiefly because american financiers are not well enough acquainted with conditions in russia to warrant them in meeting sucha proposition without relations have not been close between the two countries and the matter would appear in a different bight it england or germany or france or belgium or any of the countries with which we have a large trade should seek to make the loan then too specie payments in russia is a new thing and there would be no question as to the stability of conditions there but america now has a large surplus to its credit due to temporary conditions largely in its favor such as increased exports and large foreign credit balances but this country has lots of use tor its own money in developing ita own industries and resources and though there Is much american money abroad it does not seem probable that american capital would seek investment of nay large sum in russia chauncey J blaar president of the merchants national bank said 1 I know nothing about conditions in russia or the probability of that country trying to negotiate a government loan in america but the conditions of the money market here are such as to make the story credible john J mitchell president of the illinois trust and savings bank who has just returned from new york said it Is true that russia and japan are in communication with leading financiers in this country with a view to floating loans two weeks ago I 1 waa communicated with concerning the project by a person of high authority and I 1 am to hear of this man further A prominent boston house and nent new york house have been considering si the matter tor two weeks the russian loan Is for the rus sian railway guaranteed by the russian government and Is asked at 3 per cent it is nat especially surprising that they come to this country for tho united states is the cheapest money market in the world at present russian credit stands high and that government will get whatever loan it desires in america for a european nation to negotiate a loan in the united states Is a reversal of the usual order of things and now and pleasing condition ot affairs new york dec 19 in regard to the reported of one of the foreign powers tor a loan in the united states mr Te plott the russian consul says 1 I have heard nothing of russia or any other foreign government being desirous of negotiating a loan in tho united states but it would be quite feasible for such negotiations to be in progress without my bearing of them 4 toi naturally though were tho russian government to seek money here I 1 should expect to know of it I 1 do not bellao that it is so edmond the french consul general said 1 I have heard nothing of any european government trying to negotiate a loan in tho united states I 1 think it highly improbable henry clews the backor said 1 I think that mr eckels who gave out the report has heard of negotiations begun by a foreign government but not an european government I 1 am bound in confidence not to name the government but I 1 may say that a allt alo more than a month ago I 1 was asked to make an offer as to the terms on which I 1 would negotiate a loan of from to I 1 made my offer and have not yet received a reply new york is now in the money market of tho world chicago 19 A special from washington D C bays there are seers who predict that uncle sam will become the banker of the world two old world governments russia and japan have turned their faces to the united states in search of loans russia at least has had agents sound american financiers this is the atme foreign nations have sought to float great national loans in america and the wise men think it Is the beginning of the new era it may bo said on authority that japan needs the money ostensibly to meet a deficit in her revenues produced by heavy expenditures of land and sea armament and also to assist her in the establishment of a national industrial bank this is japans official explanation of her needs in diplomatic circles it is shrewdly suspected that japan is preparing herself for an ultimate struggle with russia in borrowing to replace her artillery with rapid fire guns it was learned at one of the legations today that this loan recently made in france is only one fourth of what russia actually needs and that russia has come to this country tor assistance because she failed to get all she wished from france it is presumed that japan and russia between them will want |
