GERMAN LOANS

Grey River Argus, 4 March 1937, Page 4

GERMAN LOANS

A Let-up in U.S.A. WITH A WARNING. (Aus. & N.Z. Cable Assn.) (Received March 3, 11 p.m ) WASHINGTON, March 3. After delays and disputes extending over more than two years, the Securities Exchange Commission has permitted the issuance of sixty-nine million dollars worth of bunds by Germany to the American holders of German bonds* in lieu of past due interest.. The commission, however, has publicly called attention to deficiencies in the German registration statement, and as. serted in effect that Germany had a virtual secret debt of 'approximately two billion dollars) Th e statement related to unsuccessful attempts to persuade Germany to reveal the details of unrecorded debt. It expressed the belief that it is only fair to warn American investors regarding Germany’s huge floating debt, consisting of advaucc tax certificates. interest, subsidy certificates and employment creation bills.