From: "MPCgram" To: Subject: MPCGram 866 Date: Friday, March 07, 2003 9:36 PM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 004 - Number 866 Friday March 8, 2003 Swiss Compensation Office By James Downey I recently came across a certificate from the Swiss Compensation Office dated October 10, 1947. The certificate itself is plain text on a blue security background. The text of the certificate reads as follows: The Swiss Compensation Office, acting upon instructions of the Swiss Government, certifies that no national of Germany or Japan as defined in paragraph 6 of the letter of November 22, 1946, from the Secretary of the Treasury to Federal Councillor Petitpierre, has or has had an interest in the following securities since the respective dates on which the Swiss freezing regulations were extended to Germany and Japan. -10- (ten) common shares The Pennsylvania RR Co. Certif. Nr. 917333 = 1/10 Nominee : CREDIT SUISSE Zurich, Oktober 10, 1947 s/SWISS COMPENSATION OFFICE The certificate is a memento of one of the lesser known financial aspects of World War Two: the treatment of assets of neutral and other non-belligerent nations by the Allies. In order to put a stranglehold on the ability of the Axis countries to finance the war using non-belligerent countries, the Allies took a number of extraordinary measures involving the assets of the non-belligerent nations. As an example, Swiss assets in the United States were frozen in 1941 and remained frozen until 1946. In 1943 and 1944, the United States and Great Britain issued "Gold Warnings" to the non-belligerent countries. These declarations brought to the attention of the non-belligerent nations the fact that the Axis countries were plundering the gold reserves of the countries they occupied and counseled them against purchasing gold from the Axis powers as it was likely to have been looted. The Allies announced that after the war they would not recognize any gold transactions made by the Axis during the war and would seek to return all looted gold to its rightful owner regardless of who had possession of it. At the Yalta Conference, the Allies determined that German reparations for the war would be set at 20 billion dollars. They also adopted a principal that all German assets located outside of Germany would be confiscated to pay the reparations. After the war, there was a great desire by the Swiss to resume normal commercial relations with the Allies including the unfreezing of their assets in the United States. In 1945, the United States, Great Britain, France and 15 other Allied nations (not including the Soviet Union or any other Eastern European country) formed an Agency to deal with the issue of reparations. This Agency also negotiated with Switzerland. The Allies demanded that all Axis assets held in Switzerland be liquidated and the proceeds turned over to the Allies. The Allies also demanded the Swiss turn over to them all gold purchased by the Swiss from Germany during the war. In return, the United States would unfreeze Swiss assets. The Swiss were initially reluctant to meet the Allies' demands. They could see no legal basis for the confiscation of German owned property and they had no intention of turning over any gold without being compensated. A compromise was finally reached after weeks of intense negotiations. The final agreement consisted of the following: Switzerland agreed to pay the Allies 250 million francs as settlement of the gold issue. Assets belonging to Germany or German nationals living in Germany were liquidated with one-half going to the Allies and One-half being retained by the Swiss. The German owners would be compensated in German currency. The secrecy of the Swiss banking laws made it difficult to trace assets in Switzerland. The Swiss Compensation Office was created to carry out the task of identifying and liquidating German assets. The Certificate identified above was required in order to sell assets held in Switzerland. As the text of the Certificate identifies, the Swiss Compensation Office was certifying that the stock certificate that accompanied it was not owned by a German or Japanese national and could therefore be sold and the proceeds paid out to its owner. The provisions of the compromise were greatly unworkable and problems developed from the start. Finally, in 1952, the parties worked out a new arrangement in which Switzerland paid the Allies 121.5 million francs as reparations and the Allies renounced their rights to German assets in Switzerland. West German agreed to reimburse Switzerland for the reparations. In exchange, Switzerland agreed to release German assets up to the first 10,000 francs per person. Owners of assets that exceeded 10,000 francs received two-thirds of the amount in excess of 10,000 francs. The remaining one-third was paid to the West German government in order to recover the 121.5 million francs paid to Switzerland. Anywhere, Anytime By Al Glaser I Hate this time of year. I have just concluded the holy trinity, F.U.N, CPMX, FEST. Here I sit making sure my prescription for anti-depressants will last until Memphis. Four long months before my next opportunity to have a FESTing fix. Once again, battalion clerk Schwan and staff came through with a tremendous event. As a veteran Fester, I can't help but laugh every time I think of the 1st time Festers arriving and having that "deer in the headlights" stare on Friday as they witness other Festers trying to out bid one another on some scraps of paper known as MFC. Looking for specific serial numbers, errors, overprints, etc. They have to be wondering what they got themselves into. Of course by Saturday evening, they are buying, selling, trading as if they had been coming for years. I was sitting in the lobby at Fest headquarters next to Tom Warburton Friday morning with new Fester Ron Waddell and veterans Wes & Rod Hardy. Tom mentioned to me he brought some of the MFC he had from prior events, he was very under whelmed with them and was wondering if I thought anyone would be interested in buying them. He said, "I don't really want the damn things, I don't even know if they have any value to anyone.? Ron Waddell perked up and said, "Well, I might be interested, what do you have?" Tom brought out some euros from the 2002 Maastricht show in the Netherlands. He asked what I thought they were worth. I said probably face value plus 50% which meant for a 1,5,10 euro set, you would pay around $25.00. Ron looked puzzled (deer in the headlights stare) he couldn't understand how you could value something at 50% over face that didn't really have a face value, this was basically play money. Tom's interest was now peaking, he had no idea they were worth that much. Ron was having a problem deciding if he should or shouldn't buy the set when Harold Kroll happened to walk by the table. I was looking for credibility for the price I had quoted Ron so I asked Harold if he thought $25.00 was a fair price. He said," NO! Their worth a hell of a lot more than that!" Now Ron is more confused, and Tom is becoming more interested in the whole thing. Harold decides to auction off the set of notes. "Do I hear $30.00?".....30 says Rod....35 says Wes. After a couple of minutes the bidding was closed at $45.00 with Wes Hardy the proud new owner. Ron, having no idea what has just transpired, tries to buy the remaining couple of euro notes Tom had. Tom is now fully awake, and decides to wait before he releases the remaining notes. Ron, who could have bought the set for $25.00, now realizes he can't even own a set for double that amount only five minutes later. By Saturday afternoon, Ron was buying and trading like a veteran. Tom, who less than 24 hours ago knew nothing about the value of "these damn things,? was actually becoming a "market maker" on a $20 star note with serial number 2. He was explaining to Harold, who collects sn2, how he arrived at a price of $60.00 for this note. Harold obviously had created a monster...You just had to be there. I have already put in my request for leave with the high command for next years Fest. I don't expect confirmation on said request until the diamond necklace gets back from the appraiser. As I have said in the past, Anytime...Anywhere. =========================================== Editorial =========================================== I had an interesting meeting yesterday with the manager of the Fest hotel. I have some good news about dates and opportunities to discuss in the next few days. Today I want to discuss something else. Customer feedback is very important to Holiday Inn. The company has established an elaborate system to evaluate customer service. If you are a Fest and received good service (as I think we all did) at the Port Clinton Holiday Inn Express, please call 1 800 HOLIDAY and report the good service! If you had poor service or are unhappy for some other reason, of course you can report that as well, but I am sure that Kim Cladwell (the manager) would like to hear about them directly. She may be reached at 419 732 7322. Fred =========================================== MAIL CALL =========================================== Dear Editor: Please sign me up for FEST V. Warner Talso Dear Editor, Thank you everybody for giving me the neat notes I really appreciated it. You have really inspired me to collect MPCs. I look forward to coming to fest five. Cameron Bueschel =========================================== CALENDAR OF EVENTS =========================================== March 12, deadline for Bank Note Reporter MPC issue. Submit your ads and editorial material for this special issue. Contact Mary Roloff: roloffm@krause.com. ANA National Money Show, March 21-23, 2003, Charlotte (NC) Convention Center, Contact ANA Convention Department at convention@money.org or JoeBoling@aol.com for forms to exhibit. Hours are 10-6:30 Friday & Saturday & 10-2 Sunday. Hotels are The Westin Charlotte (704-375-2623) and the nearby Hampton Inn Charlotte Uptown (704-373-0917). Howard Daniel will be manning a joint NI/NBS/IBNS club table where Gramsters can meet each other. He is also conducting a joint NI/IBNS meeting on Saturday and invites all Gramsters to the meeting's show and tell session and to meet other collectors with similar interests. Masstricht April 4-6, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands May 30 ? June 1 POW Conference II, Coe College, Cedar Rapids, IA Registration fees: $150 for general registration; $200 after 1 May 2003. (A day fee of $50 per full day, $25 per half day will be accepted at the time of registration as space allows for walk-in registrants to join pre-regs.) $100 for presenters, uni/college students, senior citizens, veterans of any age, overseas participants. (Registrations must be received by 1 May to qualify.)(Presenters coming for one day may attend half of that day free; if they'd like to attend the entire day they will be asked for a $25 contribution to help defray conference costs. [Basically, all presenters and panelists are being given $50 credit.]) $50 for TRACES donors/non-working TRACES board members. $50 for Journalists may attend the exhibit opening, 1-5 Saturday afternoon at the Johnson County History Center in Iowa City/Iowa, for free; those wishing to attend the rest of the conference in order to write articles/tape reports may do so at $25 per day. The exhibit itself is free and open to the public. We are very pleased to have, per plan, some half dozen German POWs or their families with us for the exhibit and conference; as much as we would like to waive the conference registration fee, we must ask that they make a one-time $50 contribution to help defray the unavoidable costs of making this conference a reality. Berlin Study Tour participants may attend for free. Please (!) pass this invitation to anyone you think might be interested in either presenting or attending. For more information about TRACES visit www.TRACES.org. Memphis International Paper Money Show: 13-15 June, Cook Convention Center, 255 N. Main St., Memphis TN 38103-1623 Military Numismatics Summer Seminar Session I dates are Saturday, June 28, to Friday, July 4; session II, Saturday, July 5 to Friday, July 11, 2003 Link for more and general information: http://www.money.org/sumsem2003.html Link to photos from Seminar II http://www.money.org/summer2002images5.html application for military money scholarship http://www.papermoneyworld.net/news/MilitaryNumismatists Scholarship Fund 2003.pdf PCDA National and World Paper Money Convention. November 19-23, 2003. St. Louis Hilton Airport Hotel, 10330 Natural Bridge Road, St. Louis, MO 63134. 2004 MPCFest V, reservations now being accepted. Reservations entered in order received: (Feb-Mar 2004): Roger Urce#, John Cheney#, David Seelye, Phil Goldstein, Harold Kroll, Gail Baker#, Leo May$$$, Kevin Neidy, Cuneyd Tolek, Warner Talso, Cameron Bueschel, Fred Schwan. # new Fester, $ paid. $$ paid single occupancy. Running totals: total 11, new festers 3. Show n tell contact Gail Baker (education@money.org) Arrival and departure coordination: Mark Watson MCW@qnet.com Auction items coordinate: Larry Smulczenski skifla@prodigy.net, Phil Goldstein IWANTMYMPC@aol.com Exhibits contact joeboling@aol.com ======================================== 2003 scholarship fund Donations of cash and numismatic material will be gladly accepted. Generally the numismatic material is auctioned at MPCFest, but might be sold via ebay or other places. Your scholarship donations help the hobby by sending qualified individuals to the ANA summer seminar military money class. Except for unavoidable charges like ebay fees, 100% of your donation goes to scholarships. 2003 Scholarship Donors Ed Hoffman RA Medina Dick Freyser Larry Smulczenski David Seelye Howard Daniel Steve Feller Warner Talso Pam West Mr. 691 Leo May John & Nancy Wilson Max Spiegel Gail Baker Chris Connell Bill Haines Joel Shafer Mikhail (Misha) Istomin Gary Hicks Robert Drew Contact me at: "Marcus Turner" mailto:maturner@indy.rr.com Checks should be made out to the "Military Numismatists Scholarship." or Marcus Turner 8103 East US Highway 36 Suite 163 Avon, Indiana 46123 USA IMPORTANT SCHOLARSHIP INFORMATION The last information given in the gram did not include the official release of application/donation information. This information can be found at the link below. We encourage everyone to print copies of this information and distribute it to those who might be interested. Further you are encouraged to e-mail the pdf document to anyone you see fit. Thank you http://www.papermoneyworld.net/news/Military Numismatists Scholarship Fund 2003.pdf Marcus Turner Scholarships from the ANA: See the following location for an application for financial aid to the summer seminar: http://www.money.org/sumsemfin.html =========================================== MPC ANA Museum Project =========================================== ANA collection of MPC: Thanks to donations from Douglas Bell, Dick Fryser, Ed Beaman, David Seelye, Philip Goldstean, Michael Cummings, Ray Czahor, David Pitchford and Mr 691the ANA MPC collection is current as follows: Series 100 - [50 sen], [1Y, 5Y, 10Y, 20Y all A underprint] Series 461 - 5, [10] cents, [$1] Series 471 - [5, 10, 25, 50 cents, $10] Series 472 - [5, 10 cents], [$1, $10] Series 481 - 5 cents, [10, 25 cents], 50 cents, $1, [$5] $10 Series 521 - 5, 10, 25, 50 cents, [$10] Series 541 - 5, 10, 25 cents Series 591 - [5, 10, 25, 50 cents, $1] Series 611 - [5, 10, 25 cents, $1] Series 641 - 5, 10, 25, 50 cents, $1, $5, $10 Series 651 - [$1] Series 661 - [10, 25, 50c], [$5], [$1, $5] $10 Series 681 - 5, 10, 25, 50 cents, $1, [$5], [$20] Series 691 - [$1, $5, $10, $20] Series 692 - 5, 10, 25, 50 cents, $1 Series 701 - [$1, $5, $10, $20] [50c etc.] = notes donated by Gramsters --Chris Connell =========================================== RESEARCH =========================================== New modification to the database you can now retrieve your password if you have forgotten at the main logon screen. Keep in mind syntax is important. The mpc database has changed its name it now going to be refered as, WW II P a p e r M o n e y D a t a B a s e This is just a hint of things to come If you are having truble loging on please inform doug bell At doug@papermoneyworld.net Papermoneyworld maintains an innovative interactive data base of all military payment certificates. Everyone is invited to enter notes in their possession or that they have observed. Visit the site at: http://www.papermoneyworld.net/user/default.asp this project is financially supported by David Seelye http://www.thempcman.net/, mailto:coinman@rochester.rr.com =========================================== Subscription information: =========================================== You can enter an email address to receive the gram by using the link below. Use this to change your address (add the new one), add a friend or enemy. http://www.papermoneyworld.net/WebMailList/Default.asp ========================================= HOT CONTACT LIST - DEALER & RESOURCE LIST Below is the BNR Press Hot Contact List. This list serves several functions. Obviously it is an outreach by the dealers listed for your business. Most of them buy and sell MPC. Others organize shows or publish periodicals, or furnish information dedicated to this field. They have supported the new Comprehensive Catalog of Military Payment Certificates with their advertising. They deserve your support and patronage! Name phone fax / cell email Allens (614) 882-3937 (614) 882-0662 info@allens.com American Coins & Collectibles (800) 865-3562 American Numismatic Ass'n(800) 367-9723 ana@money.org Guy Araby(562) 945-7891(310) 508-0018 guyaraby@earthlink.net Bob Baker(713) 864-3122 Ken Barr (408) 272-3247 ken@kenbarr.com Fred Bart (810) 979-3400 Dick Balbaton(508) 699-2266 (508) 643-1154 RBalbaton@aol.com Keith and Suzanne Bauman (248) 647 8938 tnaksbauman@earthlink.net Joe Bissell (602) 440-0442 (602) 494-9103 BNR Press(419) 732-6683 (419) 732-6683 fredschwan@yahoo.com Remy Bourne(800) 789-7070 (763) 789-4747 Ed Carne (614) 882-3937 (614) 882-0662 info@allens.com Champion Stamp (212)489-8130 (212) 581-8130 Cookie Jar Collectibles (301) 604-9225 cjcpi@comcast.net Guido Crapanzano [39] 2-8056228 [39] 2-4459856 Currency Dealer Newsletter (310) 515-7369 David F. Cieniewicz(205)852-7015 CGC (602) 493-4758 (602) 494-9103 sales@gradedcurrency.com Mike Cummings (863)603-9899 (863) 603-9880 mpccoin@hotmail.com Cygnet Charters(419) 734-2422 Ray Czahor (301) 604-9225 cjcpi@comcast.net Doric Coins & Currency (508) 699-2266 (508) 643-1154 FUN(407) 321-8747 Philip M. Goldstein : (845) 586-4672 iwantmympc@aol.com Great Lakes Bank Note Company(419) 732-6683 IBNS joeboling@aol.com Essie Kashani(909) 627-3996 (909) 627-2776 kashani10@aol.com Lowel Horwdel (765) 583-2748 (765) 583-4584 horwdel@inshightbb.com Lyn Knight(800) 243-5211 Krause Publications (715) 445-2214 (715) 445-4087 bnr@krause.com Harold Kroll(251) 649-5134 HARBONS@aol.com Leo May (305) 271-8391(305) 720-0695 LeoMayEnt@aol.com or Wide World of Banknotes Ian Marshall(416) 445-0286 (416) 445-0286 iam@total.net Memphis Coin Club (901) 757-2515 MPCGram (419) 732-6683 MPCGram@yahoo.com Pomexport Ltd. 1-201-641-6641 / Fax: 1-201-641-1700 E-Mail: Info@pomexport.com // website: http://www.Pomexport.com Bob Reed(504) 361-5684 bobreed@rrcoins.net Fred Schwan (419) 732-6683 (419) 732-6683 FredSchwan@yahoo.com David Seelye(585) 594-1987 (585) 594-2311 coinman@rochester.rr.com Richie Self (318) 868-9077 R. M. Smythe(800) 622-1880 (212) 908-4047 www.smytheonline.com Mel Steinberg & Son(415) 453-9750 (415) 457-4432 melsteinberg@mindspring.com Military Trader(800) 334-7165 Scott Winslow Associates (603)472-7040 (603) 472-8773 scott@scottwinslow.com George Warner(307) 672-3700 Pam West [44] 0208 641 3224[44] 0208 641 3224 pamwestbritnotes@compuserve.com ======================================= POST / BASE EXCHANGE(PX/BX/NEX) Dump your dupes! Your classified advertisement for items for sale, purchase or trade will be run here for free. Send your ads to the gram. This service is for everyone, most humble dealer or most advanced collector. The point is to make the gram more interesting. In all cases confirm your order via email first. WANTED SECTION: Collectors may submit lists of items wanted for their collections for listing here. Dealers and collectors who have these items, are then encouraged to list them for sale in the above section as a reply. Wanted listings will run for a period of 1 month. WANTED Rendezvous with Destiny MFC Series 022 souvenir notes. Paying up to five times face value. Put your for sale notice in the Gram. =========================================== MPC Gram Staff: Publisher: Fred Schwan - MPCGram@yahoo.com Editor: Philip M. Goldstein - IWANTMYMPC@aol.com Subscription Manager:Doug Bell - doug@papermoneyworld.net Tuesday Columnist : Joe Boling - JoeBoling@aol.com Thurski Columnist: Larry "Ski" Smulczenski - skifla@prodigy.net Friday Columnist:Fred Schwan - MPCGram@yahoo.com Critic: Harold Kroll - HARBONS@aol.com Scholarship Coordinator: Marcus Turner - maturner@indy.rr.com Index & Back Issue Manager:vacant Webmaster & Technical Advisors:Doug Bell "Wiz" - doug@papermoneyworld.net Russ Walsh - russ.walsh@gte.net Fact Checker: Warner Talso - Calendar Coordinator: John & Nancy Wilson - The Boss: Judy Schwan ===== MPC Gram is published by BNR Press and papermoneyworld.com as a free service to the community of military money collectors. Your suggestions, criticisms, complaints, editorial contributions, letters, and even praise are very welcome. The entire contents including linked illustrations are copyright protected by the publishers. In the case of contributors, the copyright is protected on behalf of the creators. Please send all correspondence regarding the gram to MPCgram@yahoo.com. Thank you very much for your participation. __________________________________________________ Do you Yahoo!? Yahoo! Tax Center - forms, calculators, tips, more http://taxes.yahoo.com/