The New York herald., 1921-09-12
PROPERTY IN RUSSIA
LOST TO AMERICANS
Westinghouse Electric Only
Factory Not Nationalized
by the Soviet.
By the Associated Press.

Moscow, Sept. . delayed. )--Leonic
Krassine, Soviet trade representative to.
day said that the Westinghouse electric
factory on the Volga River was the only
American property that had not beer
nationalized by the Soviet Government
He said the exception was made in thai
case because the managers did not aban-
don the factory, but entered into an ar
rangement with the Soviet Government
which amounted to practically the same
thing as naturalization.
Concessions are now being offered tc
manufacturers Of other countries, M
Krassine said, in an effort to revive man.
ufacturing in order to utilize raw ma,
terials. He said the Soviet Government
takes Westinghouse products and payt
money to the concern, which in turn pays
the Soviet Government q pencentage or
production.
U. s. Rights Not Recognized.
| He said the International Harvester
plant had not exactly been nationalized
but that the Soviet Government did not
recognize American ownership of tho
plant, which. he said. was still operating
He declared that the Singer Sewing Ma.
chine factory was taken over by the ole
Russian Government and converted inte
factory for the manufacture OF arms
before the Soviet regime. Consequent.
Ix,
no American property rights in the fac,
tory. he said.
| He said also that the interests OF thu
| New York Life Insurance Company ant
the National City Bank in Russia wer'
regarded as the property of the Sovie
Government However, he continued
while the Soviet Government recognized
no legal right Of any foreigner to prop
erty held In Russia before the revolu.
tion, yet for purposes OF negotiation IL
an effort to better the international sit.
uation and to reestablish Industries and
trade, the Soviet Government was will
ing to make foreign properly and ever
foreign debts a basis for negotiation.
Special Knowledge Considered.
When asked II the Soviet Government
would give former foreign owners OF
property in Russia preference In grant
Ing concessions In lines formerly con-
trolled by certain interests in Russia,
he said:
Naturally we consider tho special
knowledge of former factory owners. II
Is our desire to get Industrial conces-
sions into the hands of men who know
their business thoroughly
Under the new economic policy con-
cessions will probably be granted shortly
to Leslie Urquhart to take over certain
mining properties formerly owned by
him. There are also negotiations pend
Ing with Norweigians and Swedes for
the manufacture OF matches and paper.
and with German financiers for the
mining OF iron ore in Kurska, where
there are valuable deposits Of magnetic
ores.
He declared the Soviet Government
still adheres strictly to the principle OF
State monopoly In export and import
trade, although recognizing domestic
free trade both in retail and wholesale
dealings. Special arrangements, he said,
will be made for the expectation OF the
products manufactured by foreign con-
Germs, but these foreign firms desiring
TO sell to Russians must deal through
the Soviet cooperatives OF the Soviet
Government on a cash or credit basis"