The Alaska daily empire., 1921-09-29
Americans Purchasing European Property.
(BOstOn News Bureau.)


 The rather picturesque story from Paris concern ing the acquisition by American syndicate of the of Archduke Frederick in the former Austrian empire,-particularly the Teschen steel works and mines which doubtless would constitute the chief item of attr2ction,-is interest fin than his torica and social particulars. It exemplifes what may be Fegarded of the consequences of the world war and also of the ways out of after war complications.
 Before the the chief expenditures of Ameri- money in the line of purchasing property in Europe were confined to works of the fine arts, to few pieces of residential real estate, and to feminine shopping And much of this simply supplements al to the direct export trade of Europe with Our Investment prior to the in European securities relatively negligible. In fact there still considerable lingering impetus from the great era o Euroupean buying of American securities
 Today, under a transformed relation, al ready hold paper security stake in Europe gen orally estimated around $16000 900, ,0O0,-wth pre- dictions common that it will exceed 20 billions be- fore the peak is reached About eleven of those 16 billions are on governmental account More than half the balance is in floating rather than funded commercial obligations We quite dsinclined to increase the governmental accOmodations. We may have extend further as indicaed above the com mercial credits before the trade tideas registered in our figures of commercehas definitely turned.
 Long discussion has established almost as bromide the fact that Europe satisfy its debts to us-even after all postponements and renewals the food and materials she must have. only by gold by goods by securities and by services There is more less limitation in most of these directions
 Then there is the further type of balancing of accounts of which the reported archduca sale is a type It is that the securities already here represent lien, control, indirect title But there is the further possibility of direct swap ping of title or proprietorsnp in specific properties and business. Europe cannot an entity, ship houses and lands here But her various can sell out; and ownership shift hands,-ust as the estates of the British nobility changing character under stress of circumstances.
 Where the European is hard up, and where the Yankee observes a good bargain, enhanced by ex- change disparties such transfers readily possible Ii the legal and political way seems clear It be at first only individuals and syndicates that will pioneer the way, they have always done ahead of popular investment.
 Already good many mills and foundries in the Old World are reputed to have passed into hands of such American buyers, just as a good many more are understood to have arranged to operate prac- 'tically agents for American English principals supplying them with material. The outright sales of such properties transfer of American principal large scale that in respective exchange terms means big dent in the collective European debit
 For two generations have been accustomed to behold certain plants in this country that meant in works, and breweries deprived of their early oc equations. The process has been reversed How many pieces of Old World plant and land will be se- curely lodged in Yankee title at the the first decade after Serajeyo?