CLEARING OFFICE CONFERENCE.

Hawera & Normanby Star, Volume XLII, Issue XLII, 28 October 1922, Page 7

CLEARING OFFICE CONFERENCE.

AGREEMENT REACHED

BERLIN, Oct. 26. The representatives of the Allied and German clearing offices have reached an agreement under which monthly reparation payments will be made in German gold bonds, beginning in July, 1923, and ending in October, 1928, aggregating £24,200,000. The Reichsbanl will be trustee for the cashing of the bonds for the Entente. The agreement will be laid before the Allied and German Governments. The Government decided, after conferences with the party leaders and financiers, on a new exchange purchase order. Leading bankers do not believe in the possibility of stabilising the mark. Herr Urbig, of the Dishconto, declared that all the conditions for stabilising were lacking. Occupations, reparations, and the clearing office questions were a threeheaded monster, devouring every possibility of improvement.—Aus.-N.Z. Cable Assn.