Word: creditors
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...Germany presented at Paris with a definite bill for reparations. The Dawes Plan fixed the maximum annual charge which Germany may be called upon to pay, but not the total sum. Last week at a plenary session of the Second Dawes Committee (TIME, Feb. 18, et seq.) the creditor powers presented Germany with a grand total reparations bill of $28,000,000,000, payable over 58 years.* Since the people of Germany roughly number 60,000,000, each man, woman, child and babe in the Reich is faced with a reparations debt of $466. Even in the U. S. there...
...preferred "A" certificates to be issued in an amount representing a sum for which Germany would be unconditionally liable. Next, the "B" certificates to represent what the creditor Powers expect to obtain directly from Germany in cash transfers. Finally, the "C" certificates to cover what the Powers expect to obtain in kind, that is, in transfers of raw materials...
...Institute to have power, at the absolute discretion of its board of directors, to issue bonds against the security covered by the "A" certificates only, and to devote the proceeds to repaying the creditor Powers. The series of "A," "B" and "C" certificates to be issued substantially in the form of promissory notes of 1,000,000,000 marks each ($250,000,000), and these notes to be cancelled one by one as Germany pays her creditors billion after billion in each of the three ways outlined, namely from the proceeds of bonds, by cash transfers and by transfers...
...enough when he left it to take charge of wines and cigars in Gustav Bauman's oldtime Holland House. When Bauman put up the Biltmore in 1912, Bowman was its manager. When, ten months later, Bauman died, Bowman took over the hotel. After nursing the Biltmore through a creditor-threatened infancy, Bowman began his expansion and soon additional Biltmores joined the family...
...four hours a day or more, last week, the famed "Iron Man" of German finance faced the fiscal representatives of six creditor states,* thrusting at them reasons why Germany must not pay, either quickly or in full, the bills they have presented. With a studious, almost pugnacious restraint Dr. Schacht stopped time and again on the brink of saying, "Germany cannot pay." His manner bristled with the confidence that this conclusion would be reached by anyone not a nincompoop. Hour after hour the U. S. Chairman of the Committee, Owen D. Young, sat slightly reclined, with his long lawyer-legs...