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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7} Au Anhang. The annual sum required for the service of interest and amortization of the Loan, on the basis of present exchange rates, will not exceed about 91,500,000 Gold Marks, The payments to the Agent-General for Reparation Payments have been fixed at 1,000,000,000 Gold Marks for the first year and are expected to increase thereafter until they reach 2,500,000,000 Gold Marks for the fifth and subsequent years. The annual gross receipts of the controlled revenues are estimated at not less than 1,000,000,000 Gold Marks, The German (Government may not create any further charge upon the controlled revenues ranking in priority to or pari passu with the charge created in favor of the bondholders of this issue, The German Government has executed a General Bond whereby S, Parker Gilbert (the Agent-General for Reparation Payments), N. D. Jay and C, E. ter Meulen have been appointed Trustees for the bondholders of the Loan. In the event of the termination of the appointment of a Trustee, other than the Aygyent-General for Reparation Payments, the power of appointing a new Trustee is vested in the remaining Trustees, The German Government have agreed that, 15 days prior to the due date of any instalment of interest and 15 days prior to the due date of any redemption moneys, there shall be paid to the Trustees the whole of the funds required to meet the service of such interest and redemption. With a view to carrying into effect this provision, arrangement is made for the payment to the Trustees by the Agent-General for Reparation Pay- ments on the fifteenth day of each calendar month of a sum equivalent to at least one-twelfth of the amount necessary io meet the service of the Loan for one year, The Reparation Commission considers it desirable that the Agent- General for Reparation Payments should, ex officio, be one of the Trustees for the bondholders, In order to ensure, if possible, the continuation of this arrangement, the Reparation Commission will, in the event of the post of Agent-General becoming vacant, consult with the remaining Trustees with a view to appointing to the vacant post a person satisfactory to them as representing the bondholders, For the purpose of providing the necessary foreign currencies for the service of the Loan, the German Government, the Reparation Commission, the Transfer Committee and the Agent-General for Reparation Payments have agreed that funds required to be sent abroad for that purpose shall have an absolute right of remittance, which right shall have priority over the remittance of funds required to be remitted in discharge of revaration payments or other liabilities.. . Article 3 of Annex IV of the Final Protocol of the London Conference Dated 16th August, 1924: “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 publie, 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 subjected 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 ” Dr, Luther, Minister of Finances of the German Reich, 10th October, 1924,

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