GERMANY

Grey River Argus, 10 June 1933, Page 5

GERMANY

MORATORIUM Temporary Measures INTENDS TO MEET FUTURE DEBTS. (Aus. & N.Z. Cable Assn.) BERLIN, June 8. The Government has declared a general moratorium on all credits granted to Germany prior to July 1, 1931, the banking crisis that month caused Germany’s present, financial position. Transfers will be made as far as possible on credits granted after that date. Two existi ing standstill agreements, at present, are not affected, but Herr Schacht hopes to obtain alleviation during the forthcoming negotiations in London. The service of the Dawes and Young Dians is suspended. Private debtormust continue payments into a special conversion fund which the Reichsbank promises to convert into foreign currencies, whenever possible. Herr Schacht in a letter to the Government. emphasises that, the moratorium is only temporary. Germany intends 1<» meet her obligations in future. The moratorium begins on July 1. ( Herr Schacht stated that the delay would enable modifications to be discussed with tin' creditors at London on June 13; also, the World Conference would be able to seek an amelioration of the effects of the stoppage. He hoped that the world would receive the news without anger, and would recognise that it was an international problem, remembering that Germanyhad to earn sufficient in foreign currencies to enable her to pay her debts.

LONDON UNCONCERNED. (Received June 9 at 9 p.m.) LONDON, June 9. I The City mot the German moratorium uncoacorncdly. All preparations were made and there was no crisis. Those private banks which are heavily involve! with large holdings of German securities will be adequately protected. Jews Shot Beyond Frontier trial of accused. (Received June 9 at 9.10 *p.m.) BERLIN, June 9. At Vaduz, in the republic of Liechtenstein, a trial was held in connection with the death of Alfred and Fritz Rotter. A man named Schaedltr, the. proprietor of the hotel to which the Rotters were lured, was sentenced to one year’s imprisonment. The three other accused mon were sentenced to only a few months. The outrage of which the above trial is the sequel took place on April 6th when at Gaslei, Lcichenstein, two brothers, Alfred and Fritz Rotter, formerly leading theatre managers at Berlin, were walking with Alfred’s wife and Frau Wolf, when seven young gunmen stopped, and tried to drag them to a waiting motor car. Alfred and ithe women struggled free, and jumped down a ravine in an effort to escape. Frau Wolf was found injured, and the other two dead. Meantime, the kidnappers secured Fritz and drove furiously towards the Austrian Tyrol. Fritz, at Trisenberg, leapt from the car and fractured his skull. The police, stopped the car at Tyrol, and arrested tho occupants, who were gaoled at Feldhirch.