DEPARTMENT OF STATE                     
 
                                                            
 
                         ADVISER ON                         
 
               INTERNATIONAL ECONOMIC AFFAIRS               
 
                                                            
 
December 12, 1958.
                                                            
 
                                                            
 
        FIGURES ON INVESTMENTS AND CURRENT PAYMENTS         
 
UNITED STATES - GERMANY
                                                            
 
                                                            
 
                       I. Investments                       
 
 
The following figures refer to later dates than
any estimates heretofore published or made. The figures
concerning private investments are obtained from Mr.
Dickens of the Finance Division of the Bureau of Foreign
and Domestic Commerce, the specialist in this field.
 
 
In brief, American investments in Germany, excluding
intergovernmental debts, are estimated at $713,000,000,
taking obligations at their nominal par values; German
investments in the United States are estinmted at
$118,000,000, which is about 16 1/2 percent of this es-
timate of American investments in Germany. Taking
present market value of German dollar bands as 25 percent
of par, and short term obligations as 50, the American
investment would be appraised at $140,000,000 plus what-
ever value is attributed, to direct investments having
a book value of $234,000,000.