§ 70. Sir F. WISEasked the Chancellor of the Exchequer if he has any information to the effect that the German railways have been given a credit in New York?
§ Mr. A. M. SAMUELI have been asked to answer this question. Full statements have appeared in the German Press to the effect that an agreement has been concluded between the Deutsche Reichsbahn-Gesellschaft and a consortium of British and American bankers for a revolving credit of 15,000,000 dollars at 7 per cent., the credit to be available up to the 31st January, 1926.
§ Sir F. WISECan the hon. Gentleman state what is the position of the railway bondholders whose bonds were issued under the Dawes Report? Are they a first charge?
§ Mr. SAMUELI do not think the two questions are cognate. So far as I understand it, the rolling-credit loan to be issued by the consortium of banks is for equipment and other similar things. I do not think the new loan touches any details of the Dawes plan, but I shall be glad to go into the matter for my hon. Friend.
§ Sir F. WISEI do not mind so long as there is a first charge.