22 JULY 1916, Page 2

Mr. McKenna and the Finance Ministers of France, Russia, and

Italy conferred last Saturday with the British, French, and Russian Ministers of Munitions as to the financial arrangements necessary to satisfy the requirements of all the Allied Powers. The Lord Chief Justice and the Governor of the Bank of England were also present. An agreement was reached which will have the effect of perfectly co-ordinating the efforts of the Allies.