The New York herald., 1921-09-13
Are Revenue Producing.

The properties which are revenue pro-
ducing will be managed by the syndi-
cate through the trust company. Mr..
Replogle had no figures to make public
in regard to earnings OF the mills, for
ests and land, but ha stated that the
Bergunhutton steel works alone employ
10000 men and are working at SO to 80
per cent. OF capacity. An interesting
feature of the syndicate's control of this
plant which Is one of the best equipped
In Central Europe. Is that II is free Of
claims entailed in political developments
growing out OF the war and Is being
managed by Eugene Schneider. head of
the great Creusot works of France. Mr.
Schneider has bought from the syndi-
cate an interest In the plant.
The vast estate Is being handled In
the typical method of American big
business. although the direct operation
Of property scattered through Hungary.
Rumania, Czecho- Slovakia. Poland, Italy
and Jugo-Slavia remains in the hands
of natives of those countries. The trust
company, named the General Real Es-
tate and Trust Company of Geneva, has
title to all the Hapsburg possessions in
question. The trust company's shares
are divided two-thirds to Archduke
Frederick and his family and one-third
to the syndicate. In course OF llquidat-
Ing any particular property division Of
the proceeds will be In these proper
tions. While In the minority In regard
to stock holdings. the contract with the
Hapsburgs provides that the Americans
shall have full control in administration
and liuulda tion Of assets.
In addition to the steel works and art
collection. the properties include 1.000.-
900 acres of agricultural. mineral and
timber land, between 400 and 500 saw
mills. large coal deposits. more than a
score of palaces, valuable apartment
buildings and improved real estate in
Vienna.
The negotiations between the Haps-
burg owners and the American group
began late in 1919. when the ArchdulSe
Frederick and his family arrived In
Luzerne from Vienna. At that time more
than three-quareers OF the property was
impounded by governments Of countries
In which II was located. and NJ Vivi-
ants task has been to straighten out the
affairs of the estate. In accordance
with terms OF the Treaty OF Saint Ger
main, which provides for the confisca-
ton Of properties OF reigning houses, the
counsellor for the trust company con-
tended before the Allied Reparation Com
mission and other Government tribunals
that the holdings of this branch of the
Hapsburg house were free from seizure
because the family never had ruled.
This plea was instrumental in bringing
about the release of property. although
Mr.. Replogle thought that possibly so
per cent of 1t was still awaiting a set
tlement of war claims.
Mr.. Replogle declined to describe the
process which will be gone through in
disposing OF lands and other real estate
or In managing Industrial units, for the
reason, as he said. that no one knows
just how things will work out In Gem
tral Europe.
Tho Albertina collection cannot be
broken UP and sold to art patrons be-
cause OF laws protecting works OF art In
Vienna. The present plan OF the syndi-
cate Is to free the estate OF legal COM
pl.cations and to develop the commercial
holdings along sound lines
The man who was largely instrumental
In forming the syndicate is Thomas j.
Fielder. wealthy American. who lives
In Paris and travels much through Cen
! tral Europe. IL was through his Offices
that Archduke Frederick sought the aid
Of American business men, and II was
Mr. Fielder who interested Mr. Replogle.
Frank A. Munsey. Charles II. Sabin and
two or three more in the possibilities Of
the undertaking. A name mentioned
yesterday. in addition to these, was that
OF Or. Hugh Young OF Johns Hopkins
University. as stockholder In the Gem
cral Real Estate and Trust Company.