GERMAN FUNDS
BIG SUM IN UNITED STATES RESERVES SEIZED IN OCCUPIED COUNTRIES. SOME HELP GIVEN TO JAPAN. (By Telegraph—Press Association—Copyright) (Received This Day, 9.40 a.m.) WASHINGTON, March 5. Official data regarding international finance reveals that Germany’s funds in the United States now total 300,000,000 dollars, and are increasing faster than they can be spent, but part is being diverted for propaganda purposes. A large share of the assets held here were purchased with approximately 500,000,000 dollars of gold that Germany obtained from reserves seized -from occupied Europe. With this gold official deposit accounts are opened in neutral nations, which in turn are exchanged’for drawing power on neutrals’ balances in New York and other money markets. Reliable sources affirmed that the German financial position is so favourable that some dollar assets, for which the Germans find no use, are being transferred to the hard-pressed Japanese.
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Wairarapa Times-Age, 6 March 1941, Page 5
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144GERMAN FUNDS Wairarapa Times-Age, 6 March 1941, Page 5
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