SECURITIES WORTH £2,000,000 SEIZED BY ALLIES.

New Zealand Herald, Volume LIII, Issue 16205, 15 April 1916, Page 7

SECURITIES WORTH £2,000,000 SEIZED BY ALLIES.

ENEMY PROPERTY FOUND IN DUTCH MAILS FOR AMERICA

GERMAN BANKS SENDING RESERVES TO NEUTRAL COUNTRIES

FAILURE OF WAR LOAN CAUSES FEAR OF COERCIVE DEMAND

(Received April 14, 7.15 p.m.)

London, April 13.

'A statement was made by Sir Edward Grey, Secretary of State for Foreign Affairs, in the House of Commons that the face value of enemy securities seized in the mails from Holland to America was approximately £2,000,000. These securities would be dealt with by the Prize Court in the same manner as other German exports. Sir Edward Grey added that various neutrals had protested against the examination of mails. Discussion with them-was proceeding. ' A telegram from Rome states that reports received in financial circles indicate that German bankers are transferring their reserves to neutral countries. They do not heed .the loss incurred by unfavourable exchange so long as they succeed in getting the money safely out of Germany.. .; ..... 'JS .. ..>.,,., v „ ,„ ■ <~ ' The step is ascribed to reports that the last war loan was- a failure, with the result that coercive measures are feared..

About six miles north of the Somme attacks have been' made on the British positions near Albert,, in that pint of the line recently taken- over from the French.