Word: stillstand
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Killed in Action. Lieut. Alfred C. Blozis, 26, big (6 ft. 6 in., 250 lb.), towheaded champ shot-putter (his stillstand ing indoor record: 56 ft. 4½ in. in 1941), ex-pro football star (New York Giants); by German machine-gun fire when he waded through hip-deep snow to look for a missing comrade; in France's Vosges Mountains...
Alfred Hugenberg proved more tractable toward the Wiggin commission now in Berlin. German delegates presented an ingenious scheme whereby U. S. banks with stillstand credit in Germany will be allowed to draw 3,000 marks monthly ($714) from this credit, in the form of travelers' checks which in turn they can sell to U. S. tourists at cut rates, thus encouraging tourist traffic, helping German industry...
Banker Albert Henry Wiggin last week made an announcement the world has been expecting for a month: the "Stillstand Agreement" concluded in Basle last August, by which repayment of $1,500,000,000 of German private short-term loans was frozen for six months, will be prolonged for another year. Points: ¶ The agreement will expire automatically should Germany declare a moratorium...
...oblique slap at Reparations was taken in the agreement by the statement: "Strengthening of the German situation makes it necessary that German resources should not be dissipated to meet other claims outside this Stillstand Agreement...
...Since the first Stillstand Agreement was reached in August, Germany has voluntarily paid 10% of her outstanding short term debts. Some creditors received more than 10%. Future cash payments will be made first to those countries which have received the least. ¶ Still to be settled is the interest rate on these frozen loans. Foreign banks protest that they cannot charge less than they must pay their own domestic borrowers. All these interest rates vary. ¶ Banker Wiggin's international committee was most anxious to persuade creditors to convert cash advances to German banks into ten-year 6%, notes...