Seipel and Lamont

Austria is being lent 130 million dollars, of which J. P. Morgan & Co. will float 25 million in America. Preliminary arrangements were completed in Paris by Thomas W. Lamont, a Morgan partner.

Five months ago the League of Nations gave Austria 24 months in which to recover economic health. The granting of the 130 million loan is evidence of what Austria has done in five months under the Roman Catholic priest who is her leader.

The loan is granted to Austria under the auspices of the League and is guaranteed as follows: by Great Britain, France, Czecho-Slovakia, 24 1/2% each; Italy 20 1/2%, Belgium, Sweden, 2% each; Denmark, Holland, 1% each.

It is probable that in the United States the Austrian bonds will bear 7% interest and be sold at 90, yielding about 8%.

Dr. Ignatius Seipel, Roman Catholic priest, leader of the Christian Socialist party and Chancellor of Austria, in a statement to The New York Times' correspondent, expressed his appreciation of "the moral sympathy we have found in the United States,"

From the Stygian gloom of unutterable chaos, Chancellor Seipel and his satellites have lifted Austria to the dawn of better days. The crown has remained stable for months on end, when the currencies of some neighboring countries fluctuated widely. The number of civil servants has been reduced from 250,000 to 150,000.