Russo-American Bank

Horowhenua Chronicle, 30 August 1915, Page 2

Russo-American Bank

JJaiikers in Chicago are .stated to have been approached by Government agents with a .suggestion that the former should consent to suascribu at Icaist 25 per cent, oi die capital . f a proposed ■Kiit>,so-Ann;ncau bank. The initial total capital indicated L £1,300,UUO, and the primary purpose ol liie creation oi the institution U io Iμauce trade between the two countries, it is proposed to bury U u existing bank in Moscow, immediately as a nucluuis and t:ie Uepartmeni of Commerce at -wisiiington is understood to oiier no opposition. Whether the United States intends to obtain a very secure looting at J.'etrugrad just at present in doubted. iielore the war commenced linancial arrangements of a farreaching character had been made betivetin the Hiieisiaii Govei'ument and leadens ol liuanee and commerce in that country on the one Hand, and certain London interests for the construction <jf railways, the opening mp ol mines ami the development of manufacturing industries in the Czar's dominions These aj'rangeiiients not only hold good, but have been extended since the war began. Representatives of tome of the most important financial houses in London have been

in l'otrograd some time or another during the past six mouths perfecting their -plans for industrial development hereafter, and the necessary banking facilities have been amply provided lor. An American institution, in order to justify its oxistiince, would consequently have to devise fresh commercial schemes to be carried out in lttLseiu. Without doubt the United Statw will .sooner or later build up a iinancial organisation in Russia designed to compete for new business. l< or the present, however. English interests are master* ol : thu fcitiKtfcioii. hml arc too firmly established to feol any uneasiness' on account of a threat of competition which cannot possibly be i'ullil'ed until some time after the war ha« been concluded.