GERMAN ASSETS RELEASED

Press, Volume LXXXII, Issue 24906, 20 June 1946, Page 5

GERMAN ASSETS RELEASED

AGREEMENT BY SWISS GOVERNMENT ALLIES TO RECEIVE 50 PER CENT. (Rec. 8 p.m.) LONDON, June 18. The Chancellor of the Exchequer (Dr. Hugh Dalton) announced in the House of Commons that Switzerland had agreed to hand to the Allies 50 per cent, of the German assets in Switzerland. This is the result of long negotiations in Washington among British, American, French and Swiss representatives. The Press Association says that the 50 per cent, is worth 250,000,000 to 300,000,000 Swiss franes. Taking the larger figure, it means the Allies will receive more than £15,000,000 worth of assets. Under Ue Act of Paris following the Paris reparations conference last December Britain and America each receives 28 per cent., France 16 per cent., Jugoslavia 6 pei cent., Canada 3.5 per cent., leaving 18.5 per cent, for division among the remaining 12 nations covered by the Act. Russia does not come into the division as she receives her own reparations In the countries she occupies. A Treasury official said the assets consisted of securities of all kinds. It is expected that it will be a difficult task handing the various amounts to the Allies. Switzerland, in addition to the assets, has agreed to pay the Allies 250,000,000 Swiss francs for gold looted by the Germans and tcred in Switzerland. The money will be divided among the countries Germany plundered.