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GERMAN CAPITAL IN BRITISH CONCERNS

WHAT CONSTITUTES TRADING WITH AN ENEMY? Registered under British law and doing business in British countries are a number of companies promoted by Germans and controlled by German directors, with a great majority of German shareholders. It is possible that in Germany companies aro at work under British control. Such companies in Britain cannot do business with the enemy country while the war lasts, nor distribute dividends among their shareholders living in enemy country. So much is perfectly clear. But in Australia, as in lingland, the question has been raised whether further restrictions should not bo imposed upon them, or whether they should tie per- . A :.:i ; u-.- In-."' ill' <'i!. Tli:- matter 7,-as mentioned in AV/6 House of Commons on August 51, the President of the Board of Trade being ashed whether ho was aware that a certain company which had received a contract to supply tho British Government with electric lamps for 12 months was really owned in Germany. The inquirer went on to suggest (hat a receiver should be appointed for tho company, so tbat while its plant and factories were used for the production of articles required in the United Kingdom, and British workmen kept employed in making them, no profits should ha sent during the war to the King’s enemies. Mr Runciman replied that the general question of tho position of limited companies in Great Britain controlled by alien _ enemies was receiving the most careful consideration of the Government. The company referred to was Siemens Bios.’ dynamo works, which had been registered in London with a capital of £OOO,OOO in 120.000 shares. Of these shares 70,465 were held by A mold W. You Piemens, Karl Von Siemens, and George Von Piemens, all of Berlin. 19,733 by Alexander You Siemens, and 19,210 by G. Ton Chauvin. Other blocks of shares were hold by persons with German names. Another company which has come under discius'on in Australia is the Australian Metal Company. This company was placed on the British register in 1898. and about 87 per cent, of the shiiios are held, it. would seem by Gormans or ec jpanios controlled by Germans. Tn tusiralia b-anrbos hav** in- •! established in Pydney, Melbourne, and Adelaide, and Mr F. Valiaeli. of tho Melbourne office, says they now employ a number of Australian workmen in the mn.nufac:in-e locally of electrical goods. Tim y are or haw: been agents for the A EG. Electric Company. Ltd., which is tho British dcsignatim of the Allgemcine Electric!!ats GesrllschpAi of Berlin. The parent company holds 29.991 of the 30.800 £5 shares (capital £150.0001, and (lie six directors of (he A.E G. Company are all German-—four In Berlin and two in- London. Another electrical concern which has been canvassed in Hus connection is the Union Electric Company. Out of 24,250 £1 shares issued of Ibis company 23,<150 arc said to be hold in Germany. The directors arc Max Hearting, of Lculswch. Germany, and Heinrich Garbo, of Aachen. Prussia. In a letter to ‘The Times’ newspaper Mr j. Henderson. M.P., called attention to certain Gcrman-British companies, which, he considered, ought to bo stopped during the war. Among these was the British Mannesman!) Tube Company, “formerly tho B; Irish Weldless Tube Company. Preference shares i?s"ed 18.990 of £lO each, representing’ £189.990. <>f which tho Mannesman!! Werke. of Dusseldorf, held 18.669.” This is a private company, we understand, and a list which we have 'seen- shows that the authorised canital of £340,000 was divided in'o 19.000 preference shares of £lO each, and 15.000 ordinary shares of a similar amount. The 15,000 ordinary shares wore issued to the vendors as fully paid up, and so also 8.5.38 of the preference shares. For money 10/55 preference shares paid up to £6. and seven others, naid up in full, had b fi en issued The Deutsch fieri crrischsc I’.fftnne?mann- Co., of Dusseldorf, hrid altogether atthat time 25 052 shares, 18.744 preference and 7.208 ordinary and the Oc;tcrrciclii=fhe Mannesmann Company, of Vienna., 7,542 eba-es. ell n-’-uv riort. The five directors, each holding 50 ordinary’ and 51 pre-epT-uce shares, were 9. Plan, M. Etch. C. .1. SenlTt, and M. FfeinfhaL all of Dusseldorf. and O. Hethey, of London. it is nsrht and fair that the facta should be known, it is neither British port* mon sense nor fair play to forget two things. First, tint, the war will not last for ever, and when it is over Germans and Austrians will bo restored to all their civil and tradin" rights throughout, the British Empire. Second' that Australians have bought German and Austrian goods for their own advantage. That the sellers have also benefited only means that it has been fajr business. And what. Australians have paid for the roods has been Australian products. "When the war is over will Australia refuse to sell wool and hides and ores to Germany? If these aro sold they must bo paid for in ■German and Austrian goods, either imported direct or sold to other countries, and tho balance settled by bills of exchange. Even if other countries or people get off their mental balance, let us keen ae sane as wp can Australasian 'Hardware Journal.’

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https://paperspast.natlib.govt.nz/newspapers/ESD19141126.2.5

Bibliographic details

GERMAN CAPITAL IN BRITISH CONCERNS, Evening Star, Issue 15660, 26 November 1914

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864

GERMAN CAPITAL IN BRITISH CONCERNS Evening Star, Issue 15660, 26 November 1914

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