London July 21.
'The progress of the Allied Conference is officially revealed by an interview with M. Theunis, the Belgian Premier, in which he dedan in. sight' of our that the problem of reparati about to find the solution that has been sought for long'
The general lines of agreement of the First Committee are: (1) that after the establishment of a default, in which connexion the!
Reparations Commission, with the addition of an American shall be the deciding authority, the nature of the sanctions shall be determined by the Allies after consultation with the American Agent-General and representatives of bondholders; (2) that the service of the loan shall enjoy prior claim on the German revenues, and (3) that apart from the foregoing provisions the rights of the signatory Governments under the Peace Treaty are reserved.
An important matter requiring settlement is the question of getting Germany's consent, Reuter's Berlin correspondent says that the newspapers, including Herr Stresemann's "Die' Zeit," profess the greatest anxiety at what they describe as the chunga of the basic provisions of the Treaty.
On the other hand,' Reuter's Paris correspondent reports that the French press, with the exception of the extremists, is in general delighted with ' the compromise. Reuter, Paris, July 21.
Interviewed by the London correspondent of a French paper, M. Herriot, the French Premier, said that the work of the Allied' Conference was far from being ended Dut important results had already been reached. Never_had inter-Allied negotiations been carried out in a more cordial atmosphere and never had more sincere and mutual comprehension facilitated discussions, M. Herriot paid a tribute to the British delegates, who, he said, were realising more more France's moral and tical situation.—Reuter.
London, July 21.
The question of the Ruhr railways is proving a thorny one at the sittings of the Conference subcommittee and there is reason to believe that the matter will probably be referred back to the whole Conference—Reuter.
London, July Ramsay MacDonald yester and to-day conferred at length with the chief delegates to the London Conference. Subsequently the Cabinet held its weekly. mecting, which was advanced by a day in view of the probability of the plenary session of the Conference opening to-morrow.
It was noticeable tow lay that 31. Herriot is looking pale. and rived and apparently offering from strain. The comments of French newspapers, based on tong despatches. from their correspondents, ake it clear, according. to Reuter'= Paris correspondent, that serious difficulties have arisen: The dificult jes ave chiefly due to the attitude of the bankers, notably the Ameri-tean, towards the protocol drafted by the frst committee on July 19, which, they consider, does not give sufficient security to investors the proposed loan of £40,000,000 Germany. Even 3M," Herriot's logan, the "Ere Nowveite," joins in the chorus of newspapers, declaring that the bankers are influenced by politicians hostile to the Repara-Hons Commission and aiming preventing France retaining her: freedom of action in the event of The deceribes the difficulty as serious and almost tragic. It says that, if M. Herriot refuses the bankers the guarantee: they require, the Dawes plan will fall to the ground and, if he agrees, it will ultimately mean revision of the Treaty of Versailles.
Later.
Whatever happens, a full meeting of the Allied Conference tomorrow is almost certain, at which the reports of the three committees appointed last week will be considered.
'The financial experts had two ong meetings with the representatives of the bankers to-day regarding the Allies' views: about security for the £40,000,000 Loan. It is.ex-[pected that the views of the bankfers will be submitted to to-morrow's Conference. The sub-committee of the second committee expects to, finish the examination of the ques-
Text read from the printed page and cleaned; old type leaves the occasional error.