RUHR INDUSTRIES BEING HANDED TO GERMAN CONTROL

Grey River Argus, 12 November 1948, Page 5

RUHR INDUSTRIES BEING HANDED TO GERMAN CONTROL

The British and American military authorities announced that Britain and the United States had decided to transfer the custody of the assets of the Ruhr coal and steel industries and the functions of ownership back to German hands. The announcement stated that this decision is without prejudice to the ultimate settlement of the ownership which is to be left to a future freelyelected German Government, whether this extends over the whole of Germany or whether’ over Western Germany only. The' bi-zonal authorities stated categorically that they would not permit the restoration of a pattern of ownership in the coal and steel industries which would constitute an excessive concentration of power. The authorities also said that they would not permit persons who allowed or encouraged Nazi aggressive designs to return to positions of ownership or control. The purpose of the decision is the strengthening and improvement of the existing German organisations, the encouragement of the return to more normal methods of working in the coal and steel industries, under which the directors and management will have the incentive to assume responsibility and to provide or adjust the Military Government organisation in the industries on a two-Power basis The bi-zonal authorities have issued detailed provisions for the regrouping of the coal and steel industries into new companies, for which German trustees are to be appointed. The firms in which the Allied countries had over 50 per cent, interests on September 1. 1939, will be immediately released from Military Government control, if they are not subject to the decartelisation laws. They are excluded from the new arrangement. Reuter's diplomatic correspondent says that Britain and the United States decided to go ahead with the transfer of the coal and steel industries to German hands, in spite of the French opposition. It is understood that the French are strongly opposed to the question of ultimate ownership being left to a German Government. (Rec. 9.0). LONDON, November 11. An annexe to the British version of the new law on the ownership of the Ruhr industries, names 26 coal and steel plants hitherto exempt,, for technical reasons, from the previous laws against trusts and cartels. It declares them “excessive concentrations of economic power” which are to be broken into individual companies. , The list includes the Vereimngte, Stahlwerke, Frederick Krupp Company'; Mannesmann Tube Works, and the Flick, Thyssen and Stinnes concerns.