CREDITS FOR SOVIET
GRANTED BY GERMAN STEEL MAGNATES United Press Association —By Electric Telegraph—Copyright LONDON, March 24. The Berlin correspondent of the British United Press learns that the German authorities approved of Herr Otto Wolfe, the steel magnate, providing the Soviet Government with a credit of 200,000,000 marks, to finance the Russian purchase of German heavy machinery and a certain quantity of manufactured goods. Repayment is provided for partly in cash and partly in delivery of Russian manganese ore. The final approval of the credit throws an interesting light upon the power of Dr. Schacht, who is virtually a financial dictator, for it has been understood that a section of the Nazi party is opposed to the credits, as illogical in view of the party’s official attitude to Russia.
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Bibliographic details
Timaru Herald, Volume CXXXIX, Issue 20067, 26 March 1935, Page 7
Word Count
129CREDITS FOR SOVIET Timaru Herald, Volume CXXXIX, Issue 20067, 26 March 1935, Page 7
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