BRITISH CAPITAL ABROAD

Taranaki Daily News, 25 July 1929, Page 14

BRITISH CAPITAL ABROAD

INDEBTEDNESS OF RUSSIA FACTOR IN RESUMING RELATIONS. SALE OF GERMAN LAND IN BRITAIN (British Official Wireless.) Rugby, July 23. Answering a question in the House of Commons regarding the amount the Soviet Government, as successors to the Russian Imperial Government, owed British investors, the Rt. Hon. W. Graham said the capital amount of bonds in sterling and roubles of the Russian State loans, guaranteed railway loans and loans to municipalities and other institutions, in respect of which claims had been lodged with the Russian Claims Department, was approximately £41,000,000 and 242,000,000 roubles.

In addition there was an unascertained amount of accrued interest due on the securities.

He had no doubt that in any negotiations for the resumption of diplomatic relations with Russia the question of obtaining some payment of the amounts due, or at least some recognition of the debts, would be borne in mind by his colleagues in the Cabinet. Questioned regarding the result of the sale of German private property in Britain in accordance with the Treaty of Versailles, Mr. Graham said the total proceeds amounted to date to £55,500,000. All the British private claims against Germany and German nationals which hitherto had been admitted had been paid in full.

It was estimated that after all such claims had been met there would be a surplus, which would be retained in accordance with the provisions of the treaty, against Germany’s reparation obligations.

The Government had under consideration recommendations made by the Committee of Experts on Reparations regarding German property not already liquidated.