New York, Apr. 14. The Reconstruction Finance Corporation today indicated its willingness to finance the orderly sale of British and French security holdings in the United States in the event of war, according to the "New York Times." This, the journal declares. would be subject to the condition that a scheme can be drawn up by American interests, and approved by the American Government.
British and French investments in the United States are variously estimated at between £400,000,000 and 800,000,000.
The proposed scheme provides, In essence, for the organization of a huge syndicate, to take over these holdings if war should break out, thereby liberating the large British and French dollar balances for the purchase of American materials.
Ways and means of keeping Americán stock exchanges open in the event of war have been under discussion during the current conversations.
The Corporations, the newspaper declares, has stated that it might be able to advance to the Syndicate a large proportion of its capital. Although the procedure would be indirect, the effect of this would be to place Government credits to the value of £200,000,000 or more at the disposal of Britain and France. The whole matter, however, is stated still to be in the discussion stage.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.