New-York tribune., 1918-03-08
Wilson Plans
To Sell Enenv
Holdings Here
to Dispose of Hoboken
Steamship Piers Granted
in New Bill

tlon enabling the government to place
In American hands permanently great
German commercial and industrial con-
Germs in this country which have been
instruments in spreading the grip of
German "kultur'' was favorably re,
ported to the Senate to-day by the
Appropriations Committee 1t is in the
form of an amendment to the pending
urgent deficiency bill, empowering the
Alien Property Custodian to sell any
enemy property taken over by his office.
The committee also approved another
amendment giving the President au-
thority recently asked for by him 20
acquire by purchase or title the great
piers of the Hamburg American and
the North German Lloyd steamship
lines at Hoboken. n. J.
In a statement tonight explaining
the purpose of the new power sought,
A. Mitchell Palmer, the Alien Property
Custodian, said:
Power under the law is restricted
now to cases where it is necessary to
sell in order to prevent waste and
protect the property.
To Convert Property Into Cash
"The proposed amendment will
largely extend this power and make it
possible for the Alien Property Custo
dian to convert into cash enemy in
terests in this country. The Hamburg
American and North German Lloyd
docks are owned by New Jersey in
terests in which the stock is entirely
cnemy-owned and has been turned
over to the Alien Property Custodian,
who is placing his representatives on
the boards Of directors of those COM
panles.
There is 10 thought or purpose Of
changing the character Of The ordinary
investment in America of the enemy
subject residing in enemy territory.
Such investments will be continued as
at present, except when necessary to
prevent waste or protect the property,
when sales may take place.
''If the amendments reported by the
Senate Appropriations Committee shall
become law, the power of sale will only
be exercised by the Alien Property Gus
todian in cases similar to that of the
steamship lines, where the enemy own
ership of great industrial and CONNER
cial concerns in the United States indi-
Gates close affliation with the fnan-
cial and political powers in the enemy
country"
Mr.. Palmer asked, and the committee
agreed. that this legislation should be
attached to the urgent deficiency bill,
empowering him to sell these proper
ties to any private intercsts--but not
to the United States government-the
proceeds to be held in the Treasury
until after the war. Whether the Ger
man owners ever would receive the
money would be determined by the
peace terms.
Would Hamper Germany
American property in Germany, the
committee was told, is subject to such
action. Like treatment of German
property in the United States, Mr..
Palmer told the committee, would ham
per Germany and help the United
States win the war.
Another argument advanced by Mr.
Palmer was the question of expense
or profits of enemy property during
the war. Some property. Mr.. Palmer
said, is being operated with extremely
high profits, and it was not right that
the government should devote its
money and talent to piing up profits
for enemies, to be delivered to them
at the end Of the war By selling the
properties now the profits would accrue
to Americans, and the present market
price be reserved for possible return to
the original owners.
Senator Martin, of Virginia, chair
man Of the committee and Democratic
leader, plans to take up the appropra-
tion measure tomorrow. Its Immediate
passage was expected, with considera-
Bile debate only on the Hoboken piers
question.
The committee by party vote with
Republicans opposing approved the
amendment to authorize the President
to take legal title to the German
steamship piers and property at Ho-
boken. \. J. The Republicans opposed
1t, fearing that it might lead to gov
ernment ownership and operation of
shipping facilities after the war
In taking over other enemy property
and selling it, under the provisions
agreed upon to-day, the price would
be fixed By the Alien Property Gus
todIan.