| Show STATEMENT UPHOLDS RIGHT TO MAKE OFFER BUT HAS DOUBT OF sEC SECURITY UnITY note prepared by sir john bradbury of england and M delacroix of france call calls attention to versailles Vereal lle treaty paris parle while various interpretations may be put upon the note the reparations commission Is sen sending ding to germany in connection with ath her foreign currency cur reacy loan issue the cor one cording according to some ot of the best informed circles Is that it holds in substance that there Is I 1 no question lon of the german governments right to offer the loan but that here does exist a question as to the security jt it may giro give the text of the note prepared by sir john bradbury ot of england and II 11 delacroix of belgium calls attention to article of the versailles treaty defining priority tights rights in re pa partition ration and continues the commission makes express reserve as against subscribers to the loan of its right of priority against any funds b may be assigned by the german government to the pay ment of interest for the repayment of capital to he the loan in question more particularly if the receipt it self Is not applied to the discharge of reparation annuities it is apparent that there was considerable sid erable discus discussion slon before the text of the note was dratted drafted and the dis haslon made it first necessary to ob maln the interpretation placed upon article by the legal section of the commission the french con tended this article applied virtually virtu all to any ally assets of germany unless her reparation obligations were ere first satisfied it is affirmed that the original intention of the french was to prevent the launching of the loan with a guarantee by the but now that the loan Is said to be but CO 00 per cent subscribed the original french position has been temporarily modified |
