AMERICA FREES YUGOSLAV GOLD

Gisborne Herald, Volume LXXV, Issue 22696, 22 July 1948, Page 5

AMERICA FREES YUGOSLAV GOLD

WASHINGTON. July 20.

The United States and Yugoslavia yesterday signed an agreement by which the United States freed 47,000,000 dollars worth of gold and other Yugoslav assets frozen here since the war.

Yugoslavia agreed to pay 17,000,000 dollars in American currency in settlement of United States claims and about 900,000 dollars in Yugoslav currency in settlement of a lend-lease account.

The 17,000,000 dollars pays for American property nationalised by Tito’s Government, for two American planes shot down nearly two years ago, and for the loss of one American jeep captured about the same time. Yugoslavia has already indemnified the dead American airmen’s families. The 900,000 dollars will be used for building consulates and other structures in Yugoslavia. In addition to the 47,000.000 dollars in gold, the United States freed about 220,000 dollars in other Yugoslav Government assets and about 10.000,000 dollars belonging to Yugoslav private citizens.

The gold was brought to America for safe keeping during the war.

The United Press comments that the settlement came as Marshal Tito faced a growing economic boycott by the rest of the Soviet bloc.

Diplomats have reported that Yugoslavia, ns a result of the boycott of Rumania and Albania, has approached Western oil interests in an effort to buy oil.