BRITAIN & GERMANY

Wairarapa Times-Age, 2 July 1938, Page 8

BRITAIN & GERMANY

AGREEMENT REACHED ON DEBTS REICH AND AUSTRIAN ISSUES. MEASURES FOR EXTENSION OF TRADE. By Telegraph—Press Association. Copyright. (Recd This Day, 10.50 a.m.) LONDON, July 1. The Chancellor .of the Exchequer, Sir John Simon, in the House of Commons announced an Anglo-German agreement, under which Germany agrees to reimburse Britain for any sums due in respect of British guarantees of all Austrian guaranteed loans and to assure the full service of the bonds of such loans owing to British bondholders on July 1. The settlement also confirms a future full service of Austrian and German long-term debts, including the Dawes, Young, Saarbrucken, Credit Anstalt and other loans owing to British bondholders. Germany also has agreed to a revised allocation of United Kingdom exports on a sliding scale, enabling exports to Austria and Germany to remain as heretofore. England and Germany agree to further, negotiations in order to increase mutual trade and improve Anglo-German trade relations. EXCITEMENT IN CITY (Recd This Day, 1.40 p.m.) LONDON, July 1. The “Daily Mail’s” City correspondent says there was great excitement in the City after business hours. Austrian and German bonds bounded up by £7 to £lB per cent.