NAZI WAR CHEST

Lake Wakatip Mail, Issue 4670, 14 December 1944, Page 4

NAZI WAR CHEST

RIG FUNDS HELD ABROAD WASHINGTON. German embassies in neutral countries ai-e reported to be “loaded down” with gold, securities and currency, some of which is earmarked to finance resistance in Germany during the Allied occupation. They have large staffs working overtime to put valuables, including loot from conquered countries, under cover. The German ruling clique is known to be accumulating assets, not only for personal salvation, but as a “war chest” to keep underground organisations going. To conceal the funds the Germans are extending their power in foreign industry, and are so cloaking this control that it will be difficult to trace. Gold, securities and currency are being stored in safe deposit vaults under non-German names. In some cases, a citizen of a neutral country with practically no means becomes the owner of a valuable mine or similar property. Another German trick is to establish a small new company in occupied territory. Ger-man-made goods are then shipped in. Buyers of the goods ai’e instructed not to send the money to the manufacturers directly, but to remit the money to the new company, which is secretly German-controlled, so that the funds remain outside Germany.