SEIZURE OF BANKS

Manawatu Standard, Volume LXV, Issue 259, 1 October 1945, Page 6

SEIZURE OF BANKS

345 P.M. EDITION

ALL DOCUMENTS IMPOUNDED. PEOPLE'S SAVINGS PROTECTED. (N.Z. Press Association. —Co ry right.) (llec. 1.25 p.m.) TOKIO. Sept. 30. When American troops entered the banks in loldo, Osaka, ioKo : Lama, JNagoya, Jkoue, ahimonoseki and Fukuoka they impounded ail

tne funds, securities and records. Finance Ministry representatives •were summoned to General iVlai'Artliur's headquarters' ana given orders freezing the operations of the banns and removing tlie officials. General MacArthur also ordered the closing of all other financial institutions whose foremost purpose has been to finance colonisation and development activities in areas outside .Japan or to finance war production. The American authorities have notified the public tlial there is no intention to confiscate the people's savings and have instructed the Finance Ministry to present a plan for tne liquidation of the seized institutions and tor the payment at face value of all the individual deposits of "i • unary men". However, most of the institutions are not banks of deposit.

5 QUICK REPATRIATION (Bee. 2.10 p.m.) LONDON, Sept. 30. 'ihe evacuation of prisoners of war from Burma, Sumatra and Malaya is proceeding quicKiy, says the Exchange Telegraph Agency's correspondent in Singapore. All the prisoners have been repatriated from Java, and 50 per cent, from Malaya. Only RKil) Indian prisoners are left in Singapore. Sixteen thousand have been repatriated to Siam. There are still 10,000 in French Indo-China. 9000 of whom are French. The Daily Express correspondent in Singapore says the British forces in Malaya and Burma wid be reduced to garrison strength as soon as the Japanese in the area are disarmed.