Harvey Gibson of the Manufacturers Trust Co. of New York and Joseph Rosensky of the Chase National Bank today signed with the authorities a new “standstill agreement” providing for replacement of the “registered marks” by so-called “travel marks.”
The “travel marks” will sell for about ten per cent more than the “registered marks” and will have the effect of increasing the cost of traveling on German steamers.
The new marks will be used to defray costs of traveling and for payment of hotel bills in Germany. They will not be used for export trade.
The “registered marks” hereafter will be used only for “benevolent remittances” to Germany, including gifts and funds sent by relatives.
Mr. Gibson declared in a statement to the press that “despite the Jewish boycott of German steamers,” Americans bought thirty to forty million registered marks in 1935 for travel in Germany. He added that he expected the 1936 total to be much higher because of the Olympic games next Summer in Berlin and the Winter games which have been held at Garmisch-Partenkirchen.
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