GERMANY’S DEBTS

Timaru Herald, Volume CXLIII, Issue 20667, 4 March 1937, Page 7

GERMANY’S DEBTS

WARNING TO AMERICAN INVESTORS United Press Association—By Electric Telegraph—Copyright (Received March 3, 10.15 p.m.) WASHINGTON, February 3. After delays and disputes extending over more than two years, the Securities Exchange Commission permitted the Issuance of 69,000,000 dollars of bonds by Germany to American holders of German bonds in lieu of past due interest, but the Commission publicly called attention to the deficiencies in the German registration statement, and asserted that in effect Germany had a virtual secret debt of approximately 2,000,000,000 dollars. The statement related the unsuccessful attempts to pel-suade Germany to reveal the details of her unrecorded debt, and expressed the belief that it was only fair to warn American investors regarding Germany’s huge floating debt, consisting of advance tax certificates, interest subsidy certificates and employment creation bills.