{CREDIT FOR GERMANY

Dominion, Volume 18, Issue 181, 28 April 1924, Page 9

{CREDIT FOR GERMANY

GRANTED BY AMERICAN GROUP OF BANKS TEMPORARY MEANS OF REVIVING TRADE BI TILEGBjIFH.— PSKEB ASSOCIATION, CoPiaIGHT. (Rec. April 27. 5.5 p-m.) New York. April 2G. The “New York Times’s” financial iditor announces the completion ol negotiations under which twenty-one of America’s largest banks have granted a five-million dollar credit tor the use of German importers. This group of banks granted the French credit for stabilising the franc. Gorman trade bills, bearing the names of two prime German institutions in each case, will be taken for rediscount. Trade bills will be issued in dollars, pavable in the United States, and accepted as such by members of tiie banking syndicate. The new gold rediscount bank will be the German agent and will thus be enabled to maintain a fairly stable level <>f exchanges and facilitate the stabilisation of the Reichsmark until the final plan of the reparations experts committee can be put into effect. This step is considered to be the best temporary means-of reviving GermanAmerican trade to pre-war levels, and at the same time being the precursor of greater American aid in the form of the international loan advocated by the experts. —Aus.-N.Z. Cable Assn. EXPERTS’ CONCLUSIONS BELGIUM WILLING TO ADOPT THEM Brussels, April 25YL Theunis and M. Hymans have sent a letter to the Reparations Commission declaring that the Belgian Government is willing to adopt the experts’ conclusions entirely with a view to bringing about a practicable and equitable settlement of the reparations questions, and expressing the hope that the commission will actively prepare the measures entrusted to it under the report in order that the plan may be promptly put into execution with the common agreement of the Allied Governments.— Aus.-N.Z. Cable Assn. BRITAIN’S ACCEPTANCE OF REPORT London, April 25. The British Government’s reply, which accepts the experts’ reports entirely, has been handed to the Reparations Commission in Paris to-day. It is stated that delay in forwarding the reply was due to Mr. Ramsay MacDonald’s desire to consult the Governments of the Dominions. MM. Theunis and Hymans are going to Paris on Monday to confer with M. Poincare, who will visit London next week-end to confer with Mr. MacDonald- —Aus.-N.Z. Cable Assn. MEETING OF REPARATIONS COMMISSION Paris, April 25.. Tho Reparations Commission will meet on Tuesday to consider the Allies’ replies. Sir John Bradbury and it. Barthou are examining various phases with a view to advising the commission. —Aus.-N.Z. Cable Assn. GERMAN LINER AT CHERBOURG FIRST SINCE THE WAR (Rec. April 27, 5-5 p.m.) London. April 2G. The “Morning Post’s” Paris correspondent says that for the first time since July, 1914, a German liner called at Cherbourg, the steamer Stuttgart, from New York to Hamburg, landing eight passengers and nine mailbags.—Aus.-N.Z. Cable Assn.