LONDON'S GERMAN BANKS.

Poverty Bay Herald, Volume XLIV, Issue 14237, 3 March 1917, Page 8

LONDON'S GERMAN BANKS.

—^ — ' — n» . p NORTH'dLIPFE. -DICTATES '-PERSONAL: : _WA -leJHDOG"' MIS-SljID.---j..'.-"-*. #1 : ,.yX.*-x h The niost amazing correspondence that has 'been printed' in^^t iiondbn newspaper for \many a •• long >sAy is' published with lmtch^ parade and prominence m the Times, and ( -*her Daily Mail (says the New York Herald of December 10).' But only pa*t .of --the -correspondence is printed, be(tt«fe*e> , -'it appeai* that Mr Mcivienna and &iv William Plender, on w ; hom Lord Northcliffe' ■obtrnderd*' his xmsdlicited advice, thought' it might not assist the realisation of tin. assets of the German banks m London if their financial affairs we're -published to tlie World, and therefore inafked "their letters "private." ',"•■ '■'-"' Lord NorthclifPS.'is indignant that the buikinestses of cfertaiu enemy bari^s, notably the Deutsche- *•• and Dresdnei Banksj and .'ihe,'-' .ipiscorito : Gesellschaft, have not yet -beeh finally and formally wound up. The -position, of these con.cerris is that they^have' been placed under a controller, "Sir William Plender, m order that their assets may J h6' real ised and payments made to th'e Creditors of the hanks among Allied' and neutral subjects. ADiey _ haye' been 'debarred from conducting^ 'tanking business sine, the beginning- of the war, J ;and whethei their doors open* or shi_.*B is a mattei tliat can ih'no' way^j-Onceni th.i enemy, : liprd Northcliffe *;K|sld^,'*' bbWV',4', thai they sihoul_l"be : 'shxit;"an.d of?ers /s ib wfuc ( them luijp lygriis^lf^, by Lady Day.. Mi ilcKenha _^ajs pot' his>wa^*tb adopl . ttliat '.suggeatioh at 1 the, ( exne|ng)&_ of »Sii ' William Plender,, 'whope" cohipetevice anc es;perience of jtoancial. ra-ibtfers' are nol .commonly _\efcu*ded ,as' inferior to Lore ' Northcliffe's. X. '■' .-A '.•";■. X: This is th.2 aniaz^ng^ thr^..t whicli Lore wrote to '•*'_. lvancel-or oi the Exchequei". "We have .tjUfiJ^fo-re de cided.'to ask Sir W"illi^nsi v _(f* .-syilhdra-n *from his connection witn'the vDuries anc other neArspapers if the Gej.;man -policj , jrof : keeping alive the,'serma_. businessei is to he continued.' yX V. . In . a Tetter to Sir .William PJendei Lord Northcliffe, is ...go^' eijongjb 4,0 saj .that "I -in particular* hav_A always re gaa'd'ed yoai as one..?of my psrsonal . watchdogs. 7 ' - .' A DIGNJMED REPLY. *• Sir William Pleiv^er's reply is one oi dignjty, Avorthy of 'art English business nian 6f his reputation. . "I would," he wrote,; "very respect -fully acquaint you that-T -cannot permil any .consideration 'of f.ei^sonal benefit tc imyself or my firm to induce me t6;retiic from a. position to wshich I 'have been appointed b_> the Government, believing, s_s*l do ' _.hafc''**4ji_' iwfeult -of~<Bttch a stej: ort: my part -would be to cresSt'e-an _m barrassing situation and mata_ia% de- ! l"Vj"*.the- -cohclnfMoii o*' the - of winding _rp' tliis * London busimesseis ci these banks."- " .w ■' •-'■* --• '" • . 'That rebuff is followed by/ 'this 1 icy ' 'sentence : *• -"With regard to my firm. position ■■*.-*■ auditors' df |j th& '.'t-micerns Avhich' you- cbntvol, I am : *Cont_.nt tc 'le_tie " the retui*n of our re-election m 1 -the hands of tho shareholders who appointed us." ■■■■•> - "Sir William repudiates as "totally unfßunded" the' 'suggestion m Lord North.cliffe's letters to the Chancellor. He says : •"I have not, m 'fact,' adopted the attitude of maintaining German interests in* this' country. I '-am hot so pre-oc-cupied"with other matters or so ignorant of German aims and methods as to'allow myself to be hoodwirtked or be used as a tool. I have no policy except that of performing to the best of my ability the duties which ' have befen entrusted to me by. his Majesty's Government." 1 Then Lord ' Northcljiffe' contrib tit, es another Tetter to his. fuzing. dossier. He.rsays Sir 'WMW.ain'a leitei* 'is most unsatisfactory, b_K**-_ts6: y.y "'*. ; A' .' "It offers iio exfilfiiwion ' whatever, of the; 'long delay m. thje v %ork 'of winding 'up**-b<-'f.ondon bi-ahcliep of 'enemy bariks, .for; which' under tlie Govei .lmeht ybh ars reli-orisible." In other word?, Lord > T bl:thcTiffo Consid^*s that/S it William Plendei*,' as the ' representative of the •Board of Trade-* is' due to give him an explanation of his ..induct. ■' 1 'B«peating his' hoticS* of dismissal; to .ii_f ,^wAichdog,' > Loi*d "Northcliffe says : Xyt ftf^ed 1 s'dai'ceVy say. hat" Tarn not;askihg lik'-tnre way .without ''cohsultitiiin "\yith iHtise ai*6und" me^Vho '"-Jlcfced' . you* a*i Yf__r iluditoi', or* witfiout tfe advice of ■meh^ith laiowlgdge ,'ttl [ r the i 'cii*bi*d'rAtahces and a proved national position." -And thus, you havV 'another ' signal victory for thoseAVho "kribw 1 ho'; argument but force." " . : '* ' '' ' ■ ■■■ j. '"" li-'''-''- '