The Waterbury Democrat., 1943-11-11

$lO,O00 or more, or foreign bonds worth nothing at all, Uncle Sam would like to we you report it to him.
 What the Treasury people are in- tereSted in is reaching an estimated 100000 or more individuals and cor porations n the Unted States who own property in foreign countries factories, farms, homes, money, for eign government bonds. foreign cor poration stocks and bonds, notes, accounts and bill receivable, mer- chandise, jewelry and objects of art, foreign life insurance any and everything of value.
 RETURNS ARE LIGHT
 The Treasury has until Dec. to complete this job It began in June, but to date it has received only some 54,000 returns listing less than $2 billion worth of property. Word that the census is being made hasn't gotten around, hasn't reached 90 per cent of the people the Treasury is trying to find. Best estimates are that there are some $1O billion worth of this foreign property still unaccounted for.
 Returns received thusfar do in- dicate an amazing variety of possess sionS held in 105 foreign countries A hair net factory in China, Jimmy Savo's palace in Italy, the art works Of famous French painter, now dead, whose son is a refugee in America, whole island in the Paci- fife. Biggest individual foreign in vestment lsted thus far is for $7 million. The smallest is f $2. Can ada has shown up as having the largest single American stake-$800 million. Germany is second with $120 million. Japan is pretty well down the list with $11 million.
 Purposes of this survey are to get information of value in the conduct of the war. The case of an American owned flour mill in southern Italy is cited. The knowledge that this was an American property permit ted the U. s. military authorities to get in touch with the real owners so they could rush in the engineers
 
 repair the machinery and put 1t in operation again to help feed the local population
 POST WAR BENEFITS
 At the peace table negotiations, 1t is believed this accurate information on the American stake in foreign countries will be the bass for ad- justing claims for property damage, and putting U. s. citizens back into possession of their property. In that connection, one of the present values Of having foreign possessions listed is that this registration will pre- vent disposal of loot and the sale of such items as dollar bonds, art treasurers and jewelry on the Amer fear market, before real ownership is established. In the postwar re- adjustment period, knowledge of U. S claims against foreign govern merits will be a basis for determin- ing limitations of credit.
 One reason the Treasurys survey hasn't brought in more returns is that some people have been Sus- picious that it was dodge to get income tax information, tips on car tel agreements or secret deals. Trea- sury officials insist this isn't so. The survey isn't with hunt, and no one filing are turn can be prosecuted. But if you don't file, you're liable to $10,000 fine or 10 years. Another reason the returns have been slow in coming in is that the distribution of report forms through Federal Reserve Banks put them in to the hands of only the bigger in vestors and the commercial banks themselves. Now the banks are ask ing their depositors if they have foreign holdings to list, and inform atlon on the survey is being put in the hands of postmasters.
 T. you have any of this foreign stuff, to report the Treasury wishes you'd ask your postmaster or your banker to put you in touch with the nearest Federal Reserve bank, 50 you can fill out form TFR-500." Yes, it's another one of those gov- ernment reports.
 Treasury makes clear, however, that making a report doesn't con- stitute filing a claim for repayment,