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Germany (Potash Syndicate Bonds)

Volume 416: debated on Thursday 29 November 1945

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asked the Chancellor of the Duchy of Lancaster whether he is aware that the potash syndicate of Germany has paid the interest on its bonds, since the war began, to Swiss holders, including the payment due on 1st November, 1945, whereas British holders have not been so paid since 1st January, 1941, although equally entitled to the funds out of which these payments have been made; and whether he will order the German syndicate to pay its British holders at the same time as other nationals who may hold its bonds.

I am not aware what arrangements the former German authorities made during the war for the service of Swiss holdings of the Potash bonds. If any payments have been made on them since the defeat of Germany, they must have been from sums in the hands of the paying agents. No money has been remitted from Germany since the defeat, or can be remitted in present circumstances, for the service of German foreign loans.