EUROPEAN CONSORTIUM.

New Zealand Herald, Volume LIX, Issue 17979, 3 January 1922, Page 5

EUROPEAN CONSORTIUM.

FINANCIERS' SCHEME. GERMANY TO PARTICIPATE, I i CAPITAL OF £20,000,000. B7 T«'ei»rh—Prws Association-Cotrri,? hi 'Rc-ei™! T JO p. m 1 | A. *nd N' Z i'AiviS. Dea 81. - British. Fronth, lulmn, and Bflifim business men met in ronf'-errn here and drafted a wheme for the reconstruction 0' Europe (or submmrinn to the Supreron > Council at Cannes. The j.-hem* 'i ' that Frart'c, Britain, Germ ar v. *nd tho United Stjlos should furnish three fourths of the initial capita! md ltalr, Japan, Czech" Sinvhkia, and H-.ihnd the i remainder, and thai a permanent commit 1 tee of t«o British s.nd two Frenchmen !•« 1 appointed to 111,1 ko a f; r il draft and thoroughly study the financial problem M. Loucheur spates that tho scheme pro i posc.< tho establishment of an international (Ottipany with a capital of ICOO million i francs. The ocp.ie.renre it.pr.lated th*' 1 guarantees, such m recognnon of rtghw : of private property, b« obtained f'om the Russian Soviet Government ! The Fans correspondent of tho I'nlv Telcsraph states that the basis of 'h» ; scheme is that a corporation ho ro;is • tered 111 tho Channel Islands in order to ! bo outside the territories of the participa j ling States, with a capital of £J),00f,000, ' to be untied by private individuals •. 11 Franco, Britain, the Inned Siato«, Bel gium, Germany and Holland, hut hall the amount allocated to Germany to be ! subscribed by tho Gorr.ian Government I Tho voto of each national group shall be | proportional to tho amount subscribed | Tiio corporation shall be authorised to ! carry out banking operations, hut its main purpose shall bo to reestablish economic activity in Central Europe by receiving payment in raw materials and goods