Deutschlands Auslandsanleihen

Bibliographic data

Monograph

Identifikator:: 1779766025

URN:: urn:nbn:de:zbw-retromon-167451

Document type:: Monograph

Author:: Pfitzner, Johannes http://d-nb.info/gnd/138950474

Title:: Deutschlands Auslandsanleihen

Place of publication:: Berlin

Publisher:: Heymann

Year of publication:: 1928

Scope:: 174 S.

Digitisation:: 2021

Collection:: Economics Books

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124 Anhang.. Agent-General for Reparation Payments, such charge being prior to reparation and other Treaty payments, which in turn have a specific precedence over the existing German debt, A first charge by way of collateral security on the “controlled revenues,” i, e., the gross revenues of the German Government derived from the customs and From the taxes on tobacco, beer and sugar, the net revenue of the German Government irom the spirits monopoly and such tax (if any) as may hereafter be similarly assigned by the German Government in accordance with the terms of the final protocol of the London Conference, The “controlled revenues” are estimated as amounting annually to not less than 1,000,000,000 Gold Marks (approximately $240,000,000). The German Government may not create any further charge upon the controlled revenues ranking prior to or equaliy with the charge created in favor of the bonds of the Loan, LONDON In the London Protocol, Annex IV, Article 3, the PROTOCOL Governments of Belgium, Great Britain (with the Governments of Canada, Australia, New Zealand, South Africa and India), France, Greece, Italy, Japan, Portugal, Roumania and Jugo-Slavia, agreed as follows: “In order to secure the service of the loan of 800 million gold marks contemplated by the Experts’ Plan, and in order to facilitate the issue of that loan to the public, the signatory Governments hereby declare that, in case sanctions have to be imposed in consequence of a default by Germany they will safeguard any specific securities which may be pledged to the service of the loan, “The signatory Governments further declare that they consider the service of the loan as entitled to absolute priority as regards any resources of Germany so far as such resources may have been sub- jected to a general charge in favor of the said loan, and also as regards any resources that may arise as a result of the imposition of sanctions.” At the London Conference, the Allied Governments adopted a Teso- lution reading as follows: “The Allied Governments, desiring that this loan should be success- fully raised, and contemplating that the loan will be a first lien on the security pledged thereto, will invite the Central Banks in their respective zountries to use their good offices to facilitate the placing of the loan.” In connection with this resolution, and at the request of the Govern- ments of Great Britain, France and Belgium, J. P, Morgan & Co, in association with the undersigned, have undertaken the issue of the American nortion of the Loan. The Bonds are offered for subscription, subject to the conditions stated below, at 92% and accrued interest, to yield over 7.70%. to maturity All subscriptions will be received subject to the issue and delivery to us of the Bonds as planned and to the approval by counsel of the relevant jocuments and proceedings. Subseription books will be opened at the office of J. P. Morgan & Co., at 10 o’clock A. M., Tuesday, October 14, 1924, The right is reserved to reject any and all applications, and also, in any case, to award a smaller amount than applied for,

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