EMBASSY OF THE
NETHERLANDS
Canberra, 5th August, 1957.
Sir,
I have the honour to refer to the Notes exchanged between us dated October 14, 1955,
and February 10, 1956, on the settlement of intercustodial conflicts between Australia
and the Netherlands.
In conformity with these Notes the Netherlands Government was to release to the Australian
Government inter alia U.S. $ 3.000.- 4½ % Australia 1956 Nrs. 4456 and 5222/3, which
were supposed to have been deposited with a banking institution in the Netherlands.
However, it has been found after our exchange of Notes that these securities had all
the time been deposited with a correspondent of this banking institution in the United
States of America, where the income received on the bonds and the proceeds of redemption
have been vested in the Attorney-General of the U.S. According to the Brussels Agreement
on Intercustodial Conflicts of December 5, 1947, to which the Netherlands as well
as the U.S.A. are parties, 50 % of the income and proceeds will be released to the
Netherlands.
Our Custodian of Enemy Property has asked the U.S. Office of Alien Property whether
it would be possible for it to release 100 % of the income and of the proceeds of
redemption to the Netherlands so that my Government would be able to release these
amounts to your Government. However, the O.A.P. has answered that to its regret it
is not authorized to comply with our request because there is no agreement on intercustodial
conflicts between your Government and the Government of the U.S.A.
Therefore my Government proposes that it will release the 50 % of the income on and
of the proceeds of redemption of the $ 3.000.- bonds concerned.
If your Government agrees, the following amounts will be released to the Australian
Government:
-
1) 50 % of the proceeds of U.S. $ 3.000.- 4½ % Australia 1956: $ 1.990.23.
-
2) Proceeds of $ 1.000.- 5 % New South Wales Nr. 16845, redeemed in 1947: hfl. 5.080.15.
The £ 307.1.4 coupons 2¾ % Commonwealth of Australia 1941/ 43, mentioned in the Annex
to your Note of February 3, 1950, have already been delivered to your Government through
Westminster Bank Ltd., London, and the Commonwealth Bank of Australia, London.
I propose that this letter and your reply in the affirmative be deemed to constitute
an integral part of the agreement between our two Governments on Netherlands-Australian
intercustodial conflicts.
I have the honour to be,
Sir,
Your obedient servant,
(sd.) A. M. L. WINKELMAN
Ambassador of the Kingdom
of the Netherlands.
The Right Honourable R.G. Casey,
C.H., D.S.O., M.C.,
Minister of State for External Affairs,
Canberra, A.C.T.