FINANCE FOR GERMANY
AMERICAN BOND ISSUE CONSENT TO WITHDRAWAL (Reed. Sept. 22, 10 a.m.) WASHINGTON, Sept. 21. The investigation of the Securities Exchange Commission into the finances of the German Government terminated abruptly. The commission announced that it had consented to allow the German Government to withdraw its registration, the statement covering the intended issuing of £14,600,000 in bonds.
The German Embassy, in a statement, said that the demands for information were such that no sovereign Government ■ could submit to them.
Germany’s refusal to supply certain facts regarding her financial affairs led the United States Government early in August to order a public hearing to decide if the Reich could float a £14,600,000 bond issue in the United States. The bonds were in lieu of interest on approximately £40,600,000 worth of debts owed to American interests, a substantial part of which was in default.
One of the important items of information refused was to what extent the German Government intended to buy up the bonds when their market quotation was low.
The Securities Exchange Commission issued a statement declaring that it felt it must protect the public interest under the law.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GISH19390922.2.65.3
Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20049, 22 September 1939, Page 7
Word Count
191FINANCE FOR GERMANY Gisborne Herald, Volume LXVI, Issue 20049, 22 September 1939, Page 7
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in