SEQUESTRATING £40,000,000.
NOBW YORK, Oct. 23. Under the provisions of the Trading with 'the Enemy Act, Ma* A. Mitchell Palmer, newly-appointed .Alien Property Custodian, began his duties to-day. These consist m the sequestration of all enemy property m the United States. Mr Palmer expects to secure the control of dividends, profits, and' other moneys belonging to German corporations amounting to at least £40,000,000, which he will invest m. Liberty Loan bonds. After the war, funds thus seized and used for the benefit of the United States wall be disposed of as Congress, may decree. Mr Palmer is also taking an inventory of all war supplies stored m this country by agents of Germany. The value of these supplies is known to be more than £30,000,000.
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Bibliographic details
Poverty Bay Herald, Volume XLV, Issue 14495, 5 January 1918, Page 3
Word Count
125SEQUESTRATING £40,000,000. Poverty Bay Herald, Volume XLV, Issue 14495, 5 January 1918, Page 3
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