FINANCIER'S DEATH

New Zealand Herald, Volume LXXV, Issue 22972, 25 February 1938, Page 11

FINANCIER'S DEATH

MR. S. PARKER GILBERT RAPID RISE TO FAME GERMAN REPARATIONS (Received February 24, 5.5 p.m.) NEW YORK, Feb. 23 The death has occurred of Mr. Seymour Parker Gilbert, aged 46. Mr. Gilbert, who was formerly AgentGeneral of German Reparation Payments, tad been a partner in the firm of J. P. Morgan and Company and in Morgan's associated firms in Philadelphia, London and Paris, since 1931. He first came into prominence when, at the age of 27, he was made Assistant Secretary of the Treasury. He served under two Democrat Secretaries, Mr. Glass and Mr. Houston, and continued in his post under the succeeding Republican administration. Mr. Andrew

Mellon had the position of UnderSecretary specially created for him in 1021. There he had charge of a 7,000,000,000 dollars refunding plan. In 1923 he resumed the practice of law, and then at 32 succeeded Mr. Owen D. Young as Agent-General for Separation Pavments, a post he held until May, 1930. Mr. Gilbert was particularly well fitted for the work and' carried out his duties in Germany without friction. . In a statement to the press in January, 1927, ho said hard work and a desire for peace had led to the steady recovery of Germany from the terrible results of the war. She had stabilised her currency and settled down to work. Some countries had done one or other of these things, but Germany had done both. He hoped she would be able to meet her obligations. The American public, lie thought, ought to know that any failure on the part of Germany to pay the maximum amount would not mean the collapse of the Dawes Plan, which was apparently elastic enough to adjust itself to any situation that might arise.