El Paso herald. (El Paso, Tex.) 1901-1931, 1918-12-31
HOLDS millions
Of HUN WEALTH
Allies Will Dispose of Cash
Received for Property
Taken From Germans.

Washington. D. C, Dec 31.-The
disposal Of the hundreds OF millions
Of dollars worth Of German owned
property in the United States. taken
over and sold by A Mitchell Palmer.
alien enemy property custodian, viii
be discussed at the peace table. There
is at present little prospect that this
property will be returned to its origi-
nal owners. The accepted opinion
seems TO be that all Of the allies
viii pool enemy property in their pos
session. and will use the proceeds Of
its sale to reimburse the citizens Of
allied countries for damage done
them by Germans.
Has Accomplished Purpose.
Whatever is done with this prop
erty. the most valuable part OF the
work OF the enemy property custodian
has been accomplished. German capt.
tai and German influence have been
eliminated from the United States, and
American industry has taken a long
stride toward the condition OF all
American ownership which is so much
TO be desired
German concerns to the value Of
5000. 600 900 have been taken over by
the guardian Of enemy possessions.
not TO mention $3.50, 100000 worth Of
stocks and bonds in Industrial corpo-
rations and an equal sum in real es-
tate, PATENTS and other incidentals.
This sequestrated property has either
Deen sold TO American citizens whose
loyalty has been investigated. or Is
held by the government
IF an American corporation, the
stock OF which was owned by German
subjects. were turned back tomorrow
to the control Of its former owners"
says Mr.. Palmer, Its business would
melt away, its assets would shrink.
and its former good will as a going
business would become a distinct la
bility. The German investor would
save little out Of the resulting wreck
Foreseeing disaster. the German own
ers Of American securities in all lines
OF industry would either dump then
upon the American market with re-
commerce
This does not imply that the United
States will boycott German trade Of
fered on n fair basis in the import
market. It does mean that the United
States is not going to take again the
risk Of German control OF any OF its
industries
That the former German govern
the loss Of German owned business
interests in the United States IS ap-
parent in the notes sent to the United
States government protesting that the
sale OF this property consciously
aimed 10 do lasting injury 10 German
economic existence
Huns Make Threats.
There has been no veil Of secrecy
enveloping the work Of the alien
NJ ~
eminent. on the contrary has refused
the United States an explanation as TO
the fate of American owned property
in its hands, and limited at retalia-
ton
Where enemy owned property Is to
be disposed Of, II is valued and set
up at public auction. Bidders must
prove unquestioned loyalty to the
United States. and are required to put
up sum Of money as a proof OF their
sincerity. Sometimes the highest bid
der Is refused the right OF purchase
after his citizenship record has been
looked into
When the enemy property IS in the
form OF shares in a corporation, these
are sold just as the entire business
you'd be sold Proceeds Of all sales
are turned over to the treasury in
trust
Embassy Not Sold
An exception to the rule OF seizure
OF enemy property is the German en-
bassy at Washington As each en-
bassy OF legation belongs by right
Of purchase TO the government II rep
reseuts, the German empassy is Ger
man property. but at the request Of
the state department It has not been
sold.
American business interests in Ger
many are insignificant beside the
$500. 100000 Of German capital in
vested in this country. The Is OF 20
million United States dollars sunk in
business in Germany was mostly in
typewriters, telephones. and exporting
and importing
Praetieed Treaehery.
The strength Of the German hold on
American industry was proved by war
developments. German interests in
factories OF the United States often
held back shipments to the allies. A
typical instance was the case OF air
craft contracts made with a German
controlled firm The machinery was
delivered just rapidly enough to
avert suspicion, and not until the de-
lay had been seriously felt was the
trick discovered.
II -