The Prescott Daily News

Commissioners were Guests at Dinner Given by Financiers—Actual Negotiations Will not Begin for Several Days.

New York, Sept. 10.—The Anglo-French commission seeking a way to meet the huge bills of Great Britain and France for American munitions and other supplies reached New York today and was welcomed by J. P. Morgan and met approximately a hundred of prominent bankers and insurance heads and leaders in other lines of finance late this afternoon at a reception in Mr. Morgan's library. Tonight the commissioners were dinner guests of a party of New York financiers.

Actual negotiations as to the credit they hope to establish here were not begun and will not be for several days. During this period the commission expects to meet many other bankers and exporters and to become familiar with the situation.

Although the commission comes as the representative of the British and French governments and importers of both nations, it seems likely tonight that it might before its departure be called upon to adjust the whole foreign exchange situation for all the entente powers. To the previous report that the delegation probably would act for Russia there was added tonight the intimation that Italy might within a few days find it expedient to request the commission to act for its government as well.

Five hundred million dollars is the smallest sum the commission hopes to borrow. They would much rather have a round billion. In view, however, of the many difficulties which lie in the way of floating a credit loan of such proportions in America, it was thought that the commission's task would be almost of herculean proportions in borrowing the smaller sum.