WILL SOVIET PAY?

Sun (Auckland), Volume III, Issue 723, 24 July 1929, Page 9

WILL SOVIET PAY?

STAGGERING SUM OWING TO BRITISH IMPERIAL GOVERNMENT DEBTS British Official Wireless Reed. 11.30 a.m. RUGBY, Tuesday. Answering a question in the House of Commons regarding the amount the Soviet Government, as successors to the Russian Imperial Government, owe British investors, Mr. W. Graham, president of the Board of Trade, said the capital amount of bonds, sterling roubles, Russian State loans, guaranteed railway loans, and loans from municipalities and other institutions in respect of which claims had been lodged with the Russian Claims Department, total, approximately £41,000.000 and 242,000,000 roubles, respectively. In addition there is an unascertained amount of accrued interest due on securities. He had no doubt that in any negotiations for the resumption of diplomatic relations with Russia the question of getting some payment of amount due, or at least some recognition of debts would be borne in mind by his colleagues in the Cabinet. Questioned regarding the result of a sale of German private property in Britain, in occordance with the Treaty of Versailles, Mr. Graham said the total proceeds amount to date to £55,500,000. All British private claims against Germany and German nationals which hitherto had been admitted have been paid in full. It is estimated that after all such claims have been met there will be a surplus which will be retained in accordance with the provisions of the treaty against. Germany’s reparation obligations. ■ The Government has under consideration recommendations made by a committee of experts on reparations regarding German property not already liquidated. The Rt, Hon. Ramsay MacDonald announced that tomorrow he would make a statement regarding the Government’s naval programme.