The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-04-01
U.S.TO RETURN
s44,000,000
SEIZED IN WAR
Custodian's Office Sends Rep
resentative to Europe to
Deal With Property Owners
HELD IN TRUST FIVE YEARS
Wealth Seized Is Scattered
All Over World and Affects
Many Thousands of Persons
BY wINDER r. HARRIS.
UnlYAranl 0arylca.

By W1NDER r, HARRIS.
Universal Service.
Immediate efforts will be made
by the Alien Property Custodian's
office to get back into the hands
Of the rightful owners that por-
ton Of the seized enemy property
ordered returned under the Wins
low bill, passed in the dying days
Of the last Congress.
SEND AGENT ABROAD.
A representative OF this Govern.
ment sailed for Germany yesterday
to gather information necessary to
hasten the organization Of ma
chinery for carrying out the Con.
gressi0nal mandate to restore the
property. The purpose in sending
an agent to Germany Is to get in
direct touch with all claimants In
the former enemy country.
From Berlin the agent viii 60
to Hanover, Frankfort Main, Leip.
sig, Hamburg and other large cen
tiers, where he will meet the claim
ants in those districts
It also is likely that the agent will
go to Austria, after he completes
his work in Germany. ana help
round up the claimants in that
country. The Austrian claims, how
ever, amount to q very small pro-
portion OF the total value Of the
property seized by the Alien Prop
erty Custodian.
THOUSANDS OF TRUSTS.
Interest in the restoration Of the
property Is not confined to Gef-
many. Austria and the United
States. Claimants are located all
over the world. The property is
scattered from the Philippine Ii.
lands and Hawaii to the coast OF
New England. It consists of In
dustrial plants, such as chemical
and wooden mills, steamship lines.
banks, land and cattle companies.
salmon factories, gold, silver and
other mines OF precious metals,
and other miscellaneous business
properties. There are also thou.
sands OF parcels Of real estate
and trusts represented by Securi.
ties and liquid assets.
The general principle Of the Wins
low bill provides for the return to
the former owners Of all property
whose value in each case is 10000
or under and, in addition thereto,
an amount up to $4,000 out of all
trusts valued at $4,000 or more
where the property is Invisible.
There are 28,144 trusts held by
the custodian Of less than $4,000,
whose aggregate value is $22 ,122,-
OO2.S0, and 1924 trusts of $4,000 or
more. The portion Of the latter
trusts to be restored totals $22 ,24O,-
600, making the grand totals 30,36S
trusts affected and the $44,362,-
OO2.SO worth of property to be given
back. This will leave property
worth $273, 966, s99.1O in the hands
Of the custodian.
Another feature Of the act is
that 1t requires that. all income
accruing to the various trusts
after the passage Of the law shall
be RENTED to the former owners
or their beneficiartes.
The greatest difficulty anticipated
by the custodian's office Is in the
almost endless tangle certain to
develop in proving the claims.
While property was seized up to
the time Of the passage OF the
ACI ECPoAA cASC OANt-AS@~t
most of the trusts are five years
old, the property involved having
been seized shortly after the United
States entered the war.
DIVIDENDS HELD UP.
For example, say an enemy
alien owned a number Of shares of
Pennsylvania Railroad stock. The
securities themselves might have
been held in Germany and could
not be taken over by the Alien
Property Custodian. But where
such q case was found to exist,
the custodian ordered the railroad,
or other concern, to remit all divi-
dends to him. These dividends
have been held by the custodian
but now must be returned up 10
$4,000.
The custodian also holds a wooden
mill, which actually Is a branch of u
Germany company. People in Ger,
many owned the stock. They have
got to be found and the process OF
establishing ownership through the
period the property has been held es'
tablished as in the case of the rail
road stock.
ATTORNEYS FEES.
The Winslow act makes an effort
to protect the claimants from the
greed Of unscrupulous attorneys by
specifically providing that no trusts
shall be returned unless satisfac-
tory evidence is furnished that the
amount paid to the attorney does
not exceed 10 per cent of the value
of the property returned. The act
then adds:
but nothing in this section shall
be construed as fixing such fees at
10 per centum Of the value of such
money or other property such 10
per centum being fixed only as the
maximum fee that may be allowed
or accepted for such services