Nazi Assets In Switzerland Windfall For The Nations

Wanganui Chronicle, Volume 90, Issue 118, 23 May 1946, Page 5

Nazi Assets In Switzerland Windfall For The Nations

Received 7.45 p.m. WASHINGTON, May 21. Britain, America and France have won a share in hundreds of millions of dollars of German assets in Switzer land.

The Stale Depai'linent announced that genei-d agreement has been reached under which Switzerland would, firstly. I urn over 58.140,00(1 dollars of an estimated 1.30,000,000 dollars in gold looted from other counliies, and sold or deposited by Nazis in Switzerland: and secondly, •hare with the three Western Powers ami other

Allies, on a 50-50 basis, the pro- . reeds to be realised IToin the liquidation of German properties, . whose value is estimated as high I as 70.000,000 dollars. [ The department added that lhe accord, while rot yet finalised, provided a satisfactory method of preventing . the use of German assets for financing a new war. Officials said the 58,140,090 dollars would be divided among France, Bel-

gium, Czechoslovakia, and other nations from which the Nazis looted gold. Britain and America had agreed not to claim any gold. Both, however, under the Paris reparations agreement of January 15, were .entitled to 28 per cent, of whatever money was realised by the Allies in | liquidating Nazi properties in Switzerland. France would get 16 per cent.; Yugoslavia was next, with 6 6 ner cent. Russia, under the terms of the Paris pad, Io which she agreed, would not share in the Nazi assets in Switzerland.