Evening star., 1940-07-23
Foreign Assets Frozen
By Treasury Total
About 7 Billions
French Holdings Of
Nearly 900 Millions
Add to U. S. Problem
BY OLIVER MCKEE.

the treasury mas frozen ABOUT 3D..
OOO, ,0O0,0 900 in assets held In this
country by nationals of countries
conquered by the Nazi war machine.
OF the assets thus frozen, approx
imately $500, 10000 are held by
French citizens, according to esti-
mates of Commerce Department ex-
perts. In addition to the direct
and other investments of French
citizens, about three-quarters of a
billion dollars in gold earmarked to
the account of France is held In
the United States.
Though the Petain government SO
far has made no demand for the
release of the frozen assets, such a
request is believed to be not un-
likely in the near future. If the
request comes, the administration
will face a big problem. Like those
Of the nationals of other countries
the assets of France were frozen to
prevent their passing into the hands
Of Germany. The request would
therefore raise the question of the
ability and willingness Of the Petain
government to keep these assets
from Germany.
Invest in U. S. Enterprises.
Nationals of France hold nearly
$500, 900 900 in bank balances in the
United States, with another $780,
100000 in direct investments O1
the direct investments, about $140,-
100000 are represented by holdings
Of common stock in American in
' dustrial enterprises. In recent
months France has largely in
creased her stocks of earmarkec
gold in the United States
Now that the former Allies have
come to the parting Of the ways
France might have difficulty in oh.
tanning return of her vast store o1
earmarked gold held in this country
For the British Navy, which still
controls the Atlantic. would presen,
a big obstacle to its delivery to q
continental port.
OF the assets frozen by the Treas
ury. close to billion dollars belong
to Dutch citizens and about $780,
100000 to Belgian nationals. Other
assets frozen include those of Nor
way, Denmark. Luxembourg and the
three Baltic countries recently taken
over by Soviet Russia, Estonia, Lat
via and Lithuania.
21a Billions for England.
Investments OF the United King
dom in the United States amount
to upward of two and a half billion
dollars. OF course, more than $780,
100000 are direct investments in
American industrial enterprises. At
the outbreak of the war. British
holdings Of common stock in Ameri-
can companies were valued at more
than 5000 900 900. In recent months,
many of these holdings have been
liquidated. British investors hold
about $125 900 900 in preferred stocks.
and about 10000, 900 in American
bonds.
Following the precedent already
established, the Treasury would
probably freeze British assets In the
United States. If Hitler's legions
conquer Britain. This step would
be taken to protect the equities OF
the British owners, and prevent
these assets from falling into Ger
man hands.
German investments in the United
States are comparatively small,
about 100000, 900, according to
Commerce Department figures. Most
Of this is represented by direct in
vestments in American industry.
At the end of 1888, total foreign
investments in the United States
were estimated at about $780,
100000. Switzerland and Sweden
have substantial American holdings.
Both countries recently have in
creased their stocks of earmarked
gold held in the United States. At
the end of June, the total amount
Of gold earmarked for foreign ac-
count in the United States was
$1,706, ,187 900.