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Hokitika Guardian, 25 October 1928, Page 4

The cable nejvs last week supplied an ineresting item regarding Germany’s war payments to the Allies. The “Financial Times’’ says Mr Parker Gilbert, Agent-General for Reparation Payments spent the week-end wfth the Chancellor of the Exchequer, Mr Churchill. It was understood that they discussed German reparation payments and their satisfactory progress. Mr Gilbert will go to New York shortly. The Allies intend to fix the ,sum total of reparation payments. They hare already planned to discharge half the liability through the surrender of German railways and industrial bonds, which will be sold to investors. It Is interesting to recall ' that this, the fifth annuity year of the Dawes plan of reparation payments began on September Ist. This is the first year in which the “standard” payment of £125,000,000 is payable, and is regarded as the test year of the plan. The Agent-General for Reparation Payments has announced that all payments were made when they were due, and that transfers during the year to an amount substantially equivalent to the year’s receipts were made. The reparation payments actually received from Germany during the fourth annuity year amounted, to about £87,000,00, which included two payments in completion of the third annuity to the amount of £3.750,000, which was not received till September, 1927. The fourth annuity amounts to £87,500,000, and the two payments necessary to complete it, amounting to about £3,950,000, fell due in September. The first of these payments were made on September Ist, and represented the final instalment of .the service of the German railway bonds amounting to £2,750,000. There then remained the final instalment of the year’s contribution of the transport tax, which amounted to £1,500,000 and which fell due on September 21st. The total transfers made during the fourth annuity year amounted to £86,950.000.