ECHO OF THE WAR

Wanganui Chronicle, Volume LXXXIII, Issue 19920, 16 August 1927, Page 7

ECHO OF THE WAR

EX-ENEMY PROPERTY ANGLO-AMERICAN AGREEMENT {A. & N.Z.) LONDON, Aug. J 3. The text is issued of the letters exchanged and the agreement reached between Great Britain and the United States regarding rhe reciprocal release of property sequestrated under the Trading with the J nemy Act. A meme ran lum drawn up by the United States Government explains the conditions for the return of property to married women in the United. States and Great Britain, which was seized during the war. With regard to debt claims, the United States Trading with the Enemy Act

authorises, on the basis of reciprocity, payment from the sequestrated property or debts owing to and owed by British claimants before the passage of the Act ,provided that such debt, in the nature of a pledge or lien, arose in reference to money or other property held by the Alien Property Custodian or Treasurer of the United States. The position of the British Government is that in all cases where enemy businesses, whether conducted by corporation, partnership, or individual concerns, have been liquidated by Great Britain under war legislation, the claims of United States creditors whereever resident have been treated on an equal footing with those of British creditors. Another section of the memorandum sets out the respective positions of the two Governments in regard to shares and stock in the account of the German banks, and a further section deals with cases in which the return of the assets of a corporation is permitted. The British Foreign Office, in a letter accepting the memorandum’s statement of the position, adds that the British Government is prepared, on being granted reciprocal treatment by the Government of the United States within the terms of the memorandum, to realise such property as is covered by the terms and understanding and on the conditions stated therein.