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Dr. Melchior Declines to Head the Reichsbank

Dr. Karl Melchior, a partner of Max Warburg, noted Hamburg banker, and brother of Felix Warburg, American philanthropist, is being considered in government circles here as president of the Reichsbank to succeed to Dr. Schacht, who resigned last week. Dr. Melchior is one of the outstanding economists in Germany and has represented his country at all of the recent international economic conferences as well as in the reparations negotiations.

Dr. Melchior, himself, however, has officially declined to accept the position.