The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1918-04-16
ENORMOUS HUN
HOLDINGS TAKEN
OVERLY THE j. 8.
Alien Enemy Property Gus
todian Has Many Concerns
On Hands Til War Ends.
VALUE IS FABULOUS

iHy Associated Press to The Banncrl
WASIIINGTON April 12-Now that
Congress has enacted law which pro
vidcs that all the great German hold
ings Of property and investments in
the United States shall be sold to the
highest bidder, the alien property Gus
todian already invested with probab.
ly the greatest trust funds in the
world. will undertake the task of
, breaking up these outposts of Kultur
which in the years gone by have been
nothing less than agencies Of the Ger
man military and diplomatic system.
The same law authorized the Presi.
dent to take title to the great German
steamship piers and wharves at Ho.
boken. New Jersey. During the war
these will be used by the army and
navy. What will become of them af-
} tcrward has not been entirely plan
ned.
But the auction cc German property
interests and Investments will put on
the market some of the nest eggs
held In America by many prominent
German statesmen ami even by the
German Emperor. His holdings are
said to be gilt edge" and although
bed in some cases through other per
sons, they are sure TO be uncovered by
the relentless search of the alien prop
erty custodian.
Combating every device to conceal
German ownership in American con-
Germs, probing into the facts regard
ing every suspicious company, seiz-
ing wherever there Is evidence of an
enemy alien ownership. the value of
stock in American corporation, so far
taken over by A. Mitchell Palmer. the
Alien Property Custodian, is enor-
. nous.
BIG CONCERNS AFFECTED
The possession of the stock in these
corporations carries with it the con
troll of large lumber companies. ce-
ment concerns. brewery establish.
ments. chemical works, trust iBstitu
ti0ns and manufacturing plants of all
kinds. In all of these. the Alien Prop
eriy Custodian. having the majority
of the stock, has placed a majority OF
directors to represent the government
, during the period of the war and Sc
long afterward as may be necessary
More than fifty large companies
ranging in value as high as SIS 900 ,O0C
, each, are already under government
control in this way. and heavy in
tcrcst in many other concerns has
; been taken over through the opera
tions of the Alien Property Custod
q ians Office. The purpose is TO main
tain and continue the product and de
. velopment of these corporations fol
, the advancement of American indus
, tries Thorough and permanent Am
, ericanization of these corporate in
dustries is proposed under the power
; of sale given by the amendments tc
} the urgent deficiency appropriation
act
, Inquiries coming into the Alien Gus
= t0dian's Office from every direction in
K. dicates that the exact scope of this
: arm of the government. with its rami
lications not only throughout cont
f mental United States but into Hawaii
tho philinninnc Dnr,n p;co ,l,, VII.
, gin Islands and elsewhere is moi
+ clearly understood. 1t seems TO be {
5 bit puzzling to many how an Ameri
D can corporation. existing under the
|, United States laws and doing busines.
r in the United States. can be seizet
1 by the Alien Property Custodian a.
if the corporation were an enemy
+ alien. The Custodian frequently an
r nounces that he has appointed "A boarc
n of directors of some large American
T. corporation. despite the fact that ther,
!, seems to be no provision in what il
|. known as the Trading with the Enc
/. my Act which gives him any sucl
e authority. This procedure. however
f is simple, effective and altogether reg
! ular.
I CUSTODIAN TAKES STOCK
The Trading with the Enemy Act
under which the Office of the AlieI
I Property Custodian is created. re
}. quires every corporation in the Unite,
:. States TO transmit to him a full lis
: of its stockholders who are know
TO be. or whom it has reasOnabl,
cause to believe to be. "enemies.
s When these reports disclose that
I majority of the corporations stock il
enemy held" the Custodian issues