Washington, Jan, 31.
The Secretary of State, Mr. Cordell Hull, to-day announced the collapse of the Russian-American debt. conferences.
After a five-minute discussion with Alexander 'Troyanovaky, Soviet Ambassador to the United States, Mr. Hull said:—"In view of the attitude of the Soviet Union, T feel we cane not encourage the hope that any agreement' is now possible, There seems scarcely any reason to dout that negotiations, which seemed Promising, must now be regarded as ended."
Mr. Hull confessed there seemed Ltle hope of promoting Russo-Ameri-ran trade in the immediate future, He indicated that the Russian Export Import Bank, organized to promote trade between the Soviet Union and the United States, may be dissolved as a result of the brief conference, 'Mr. Hull said that the United States' proposal for debt settlement on a greatly reduced basis had been re; Jected.
He explained that America was willing to accept a fraction of the original obligation, taking long term, payments, the Export-inport bank Granting simultaneously long term credits, but the Soviet Union spokesman rejected the plan, "The question of continuing the existence of the Russian Export-Import Bank is a matter for the bank trustees to determine," the Secretary of State said.
The collapse of negotiations came as a hard blow to American manufs turers of heavy machinery They had sounted on the many millions which Russia wants to invest in production oods.—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.