[Pages S3030-S3033]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

OPERATION SAFE HAVEN AND THE ASSETS OF EUROPEAN JEWS IN SWISS BANKS

Mr. D'AMATO. Mr. President, I rise today to discuss an issue of great
emotion and importance to Holocaust survivors and their families. The
issue at hand is an inquiry into the return, by Swiss banks, of assets
deposited by European Jews and others in the years preceding the
Holocaust.
From the 1930's until the onset of the Holocaust, European Jews and
others deposited funds and other assets in Swiss banks for safekeeping.
In doing so, they were trying to avoid what some inevitably saw as the
writing on the wall, namely the coming Nazi onslaught. Others did so,
simply for business reasons. At the end of the war however, a great
many Swiss banks denied holding these assets.
Throughout the intervening years, the victorious Allies made several
requests of the Swiss Government for cooperation in finding these
assets. Several organizations, in addition to the Allies made repeated
and determined efforts to persuade the Swiss to examine their banks and
to find these missing assets.
For the Swiss though, the matter was simple, they did all that they
could to

[[Page S3031]]

avoid any type of examination of their banking system, despite clear
evidence of very deep cooperation with the Nazis. The Swiss hid behind
their 1934 Bank Secrecy Act, claiming that they could not divulge the
identity of their account holders. This is quite ironic in view of the
fact that the 1934 Act was designed to protect the identity of the
account holders from the Nazis. Now, they were using this same law to
shield the assets from the survivors and the victims' rightful heirs.
Finally, in a series of agreements and treaties with the Allies
following the war, Switzerland reluctantly agreed to search their
banks' files for these assets. Finally, in 1962, the Swiss Bankers
Association undertook a search through their records to find what
assets, they denied holding in the first place. At the conclusion of
this search, they found approximately 9 million Swiss francs, or some
$2 million, belonging to 961 claimants. Nevertheless, some 7,000
claimants were turned down.
Numerous sources have questioned the validity of this search, but
nothing was done beyond this until another search was performed in
1995. In this new search, according to the Swiss Bankers Association, a
total of 893 accounts, holding $32 million were found. These accounts
were said to have been dormant for at least 10 years and were opened
before 1945. These numbers have been criticized, by a variety of
sources, as vastly too small.
It is in this vein, as Chairman of the Senate Banking Committee, I
have begun an inquiry into this situation. The inquiry will examine the
procedures by which Swiss banks calculated the amount of assets in
their possession. In these post-war searches, in 1962-63, and most
recently in 1995, the Swiss banks used different criteria to conduct
their examinations. Therefore, the Banking Committee will evaluate how
the banks searched their accounts, and what kind of accounts might have
been missed. The Committee will try to discern if the searches were
comprehensive enough to find all assets.
While in the early stages of the search, my staff has found
declassified military intelligence documents that detail a variety of
fascinating facts vital to this inquiry. In ``Operation Safe Haven,'' a
program of the Joint Treasury Department-Justice Department-State
Department operation to locate and identify Nazi assets and looted
assets in Europe, Military Intelligence officers filed a series of now-
declassified reports on these topics. One such document, dated July 12,
1945, details a list of 182 separate bank accounts held by Societe
General de Surveillance S.A. of Geneva. These holders of these bank
accounts were from Romania, Hungary, Bulgaria, Croatia, Moravia,
Slovakia, France, Holland, and Denmark.
This important document is vital to understanding the issue of
Holocaust assets in Swiss banks. More importantly, we must compare it
to the declarations of the Swiss that they had no real assets in their
possession, and to later fulfillment of some claims made with them. To
start, I would like to know if these accounts are among those found in
the post-war, 1962, and 1995 searches, and if not, where is the money
now?
At this time, Mr. President, I ask that the above mentioned document
be printed in the Record at the conclusion of my remarks.
Mr. President, this document proves vital to countering the claim
that there were no assets, or very little. With the help of the
Congressional Research Service, I would like to list the amount of
assets, held in the various currencies reported, converted into dollars
at the 1945 rate. Additionally, I will list the value of those assets
in 1995 dollars accounting for inflation, as well as what the accounts
would hold today with 3 percent, 4 percent, and 5 percent interest
respectively. The amounts are as follows:

----------------------------------------------------------------------------------------------------------------
Currency 1945 amount 1995 amount 1945+3% +4% +5%
----------------------------------------------------------------------------------------------------------------
Swiss Francs.................... $2,214,915 $18,738,181 $9,989,266 $16,390,371 $26,667,577
French Francs................... 4,925 41,665 22,261 36,396 59,297
Belgian Francs.................. 713 6,034 3,223 5,269 8,585
British Sterling................ 71,488 604,790 323,126 528,296 860,716
Canadian Dollars................ 264 2,233 1,193 1,951 3,179
U.S. Dollars.................... 119,020 1,006,915 537,970 879,557 1,433,009
Dutch Florin.................... 227 1,923 1,026 1,678 2,733
-------------------------------------------------------------------------------
Total..................... 2,411,552 20,401,741 10,878,065 17,843,518 29,035,096
----------------------------------------------------------------------------------------------------------------

Mr. President, as you can see, these amounts are of an incredible
magnitude. If they are accurate numbers, there is a real problem and
the Swiss banks have a lot of questions to answer, and I plan to pose
questions to them today. I plan on actively pursuing this matter until
I achieve an authoritative, accurate and final accounting of all assets
that numerous Swiss banks continue to hold from this time period and to
which the survivors and rightful heirs are entitled.
The document follows:

[USG-SWI-105; Secret: No. 12100; Bern, Switzerland, Reference: SH No.
74, Date: July 12, 1945]

Safehaven Report

Subject: Supplementary Report on Funds Held for Others by
Societe General do Surveillance S.A., Geneva.

Reference is made to SAFEHAVEN Report No. 4 of April 9,
1945. Attached hereto is a list of balances held by Societe
General de Surveillance S.A., Geneva for nationals who are
also residents of Rumania, Hungary, Bulgaria, Croatin,
Moravia, Slovakia, France, Holland, and Denmark. It will be
soon from the attached list that the balance hold for
nationals who are also residents of the named countries
total:

Swiss Francs...............................................9,506,078.62
French Francs................................................250,000.00
Belgian Francs................................................31,282.08
Francs Gold (no further description).........................182,100.00
British Sterling............................................17,739-4-17
Canadian Dollars.................................................291.68
U.S. Dollars.................................................119,020.64
Florin...........................................................599.22
Slovakia Cr....................................................5,162.60
Rumania Nom. Lei...........................................1,400,000.00
Greek Drachmas...............................................500,000.00
Kuna..........................................................10,069.00

And one safety deposit box for which no value can be attributed at this
time.

The attached list represents certain amendments to the list
appended to SAFEHAVEN Report No. 4 suggested by our
informants, and also includes additional information in
regard to other balances not heretofore reported. The
attached list, which contains more detailed information
relative to the property held than the earlier one, is said
to be a complete list of all persons who are nationals and
also residents of the countries named who have balances with
S.G.S., except that for practical reasons later compilations
omit balances below Swiss francs 10,000. Furthermore, it may
be noted that we are advised that we now have a complete list
of all accounts held by S.G.S. for all persons who are
nationals and residents of countries which are of interest
except Germany.
While we have been advised that S.G.S. holds no balances
for persons in Germany, this statement has been questioned on
the basis of an admission that advances were made to a German
resident of Switzerland out of funds due Mr. Siepmann, the
former Manager of the Hamburg Control Company which was
formerly affiliated with S.G.S., and it is possible that an
additional report will be submitted if additional information
is obtained at a later date.
In SAFEHAVEN Report No. 4 it was stated that:
``. . . It is reliably reported that since 1941 S.G.S. also
has acted in a banking or fiduciary capacity by holding funds
representing profits realized by its Balkan customers on
shipments of merchandise to neutrals and to enemy territory.
The transactions which resulted in the accumulation of
profits involved over invoicing consignees, shipment of the
merchandise against payment in Switzerland in Swiss francs,
and withholding by S.G.S. of the excess payments or balances
. . .
``It is stated that the aforementioned funds and other
property are beneficially owned principally by Jewish persons
who are nationals of and residents of the abovementioned
countries and who were endeavoring (1) to profit from black
market operations in local currencies of the Balkan
countries; (2) to move funds out of their home countries; or
(3) to insure that the funds would be safe from confiscation
by their local authorities''.
During the present investigation, however, a question was
raised as to whether or not the above statement also were
true for balances held for persons who are nationals and also
residents of France, Holland, and Denmark and in reply the
following memorandum dated June 18, 1945 was received:
``The only countries for which we hold financial accounts
are Romania and to a very

[[Page S3032]]

limited extent Bulgaria. We have never transacted such
business for people in other countries.''
From the foregoing it would appear that our earlier remarks
do not hold for nationals and residents of Hungary, Croatia,
Moravia, Slovakia, France, Holland, and Denmark. This
conclusion seems to be correct since at our request the
Genova Consulate discussed the memorandum of June 18, 1945,
further with the S.G.S. and on July 2, 1945 advised in part
as follows:
The memorandum of June 18 from S.G.S. is correct. On the
French list all but the last two entries have been held since
before the war. The last two were acquired from a bank in
free exchange for the account of the persons mentioned. The
Hungarian gold (as also the French gold) was deposited with
the S.G.S. without its having any knowledge as to how it had
been acquired.''
For your further information, we are advised by the Geneva
Consulate in their letter of July 2, 1945, that all dollar
balances are deposited in blocked accounts except one of
$4200 held for Maurice Moiso Rothmann, Bucharest, which is in
the form of currency.
With regard to the balances held in French francs, the
following was reported in the Geneva Consulate's letter
referred to above:
``There is only one case involving a balance in French bank
notes (S.A.R. DE TRANSPORTURI EGER on the Rumanian list
involving 250,000 French francs) and those were declared to
the French Consulate here by the S.G.S.
``Holdings shown on the French list should supposedly be
declared by the owners. S.G.S. has no obligation to declare
anything in these cases. It is not known for sure, but the
presumption is that the French owners have not made any
declarations in order to avoid taxation.''
This information is reported to Washington and London for
whatever further action may be desired.
We should like to request again that this information be
regarded as extremely confidential and be so handled that it
will not be disclosed to Swiss or other sources. The request
is for the protection of our informants who appear to have
been very cooperative.
Enclosures: 3 Lists
850.3/711.2
DJR/KRH/EGR/eb
Original and hectograph to the Department
Two copies to American Embassy, London
One copy to American Embassy, Lisbon
One copy to American Embassy, Madrid
Two copies to British Legation, Bern.
Reproduced by London Office, US Group CC. 2 August 1945.

------------------------------------------------------------------------
Soldes
Roumanie Currency crediteurs
------------------------------------------------------------------------
M. Adler, Bucharest.................. FrS 22,018.85
Mondy Agent, Bucarest................ FrS 22,219.70
Agraproduct, Bucarest c/bloque (vente FrS 330,110.00
432 T. pois par W. Kundig & Co.
Zurich.
Agraproduct, Bucarest c/financier.... FrS 493,095.67
Leo Alpern, Bucarest................. FrS 14,123.00
Arion Samuel, Bucharest.............. FrS 20,703.90
Mihail Atias, Bucarest............... FrS 5,000.00
Mme. Cocutza M. Bach, Bucarest....... FrS 45,989.10
Leon Balian, Bucarest................ S 1,591.75
Leon Balian, Bucarest................ FrS \1\ 400.55
Leon Balian, Constantza (actions Nom.Loi 1,400,000.00
Selecta SAR, Bucarest).
Balian & Co. S.A. Bucarest........... FrS 4,557.40
Balian & Co. S.A. Bucarest........... Fbg 31,282.08
Emil Neumann Bercovici, Braila....... FrS 15,772.05
Kriker Bouhartzian, Bucarest......... FrS 9,993.30
Alexandru P. Bratulescu, Bucarest.... FrS 9,992.80
Serban Salviny Cappon, Bucarest...... FrS 3,000.00
Jancu Chitzes, Bucarest.............. FrS 5,953.05
Jancu Chitzes, Bucarest.............. S 3,013.66
Ing. Andrei V. Chrissoghelos No. 567. FrS 54,850.50
Ing. Andrei V. Chrissoghelos No. 936. FrS 579,263.50
Companie Cific S.A. Bucarest......... FrS 36,780.53
H. Cohl, Bucarest.................... FrS 9,974.60
D. Constantinescu, Bucarest.......... FrS 7,500.00
D. Constantinescu, Bucarest c/Depot.. Francs OR 3,800.00
Ernst Ozallek, Bucarest.............. S 205,312.25
Ernst Ozollek, Bucarest.............. FrS 1,270.36
Const. A. Dimitropol, Bucarest....... FrS 8,100.00
Eug. Dornhelm, Timiscara............. FrS 35,000.00
``Ergede'' Radu G. Dumitrescu, FrS 3,272.65
Bucarest.
S.A.R. de Transporturi Eger, Bucarest FrS 258,381.05
S.A.R. de Transporturi Eger, Bucarest FrS 10,500.00
c/bloque.
S.A.R. de Transporturi Eger, Bucarest Ffrs 250,000.00
(en billets de banque).
Adolph J. Ellenbogen, Bucarest....... FrS 5,925.80
Externa. S.A., Bucarest.............. FrS 1,600.00
Constantin Feltoianu, Bucarest....... FrS 523,919.14
Mme. Adela Feldman, Bucarest......... FrS 25,000.00
Isaac Feldstein, Bucarest c/927...... FrS 736,792.60
Isaac Feldstein, Bucarest c/bloque... S 19,444.38
Isaac Feldstein, Bucarest............ S 130.00
Isaac Feldstein, Bucarest c/suspens.. FrS 1,465.00
Isaac Feldstein, Bucarest............ Francs OR 32,300.00
Jankel Jancu Feldstein, Bucarest c/ FrS 67,000.00
926.
Jankel Jancu Feldstein, Bucarest..... Francs OR 20,000.00
A. Fischler, Bucarest................ FrS 6,000.00
Mme. Flora Franco, Bucarest.......... FrS 25,971.05
Mois Aron Franco, Bucarest........... FrS 25,000.00
S.A. Gattorno, Bucarest.............. FrS 2,106.25
D. Alexandru Cerendai, Bucarest...... FrS 5,000.00
George Gigantes, Bucarest............ S 2,000.00
D. Goldberg, Bucarest................ S 9.16.10
Rose Gorcewicz, Bucarest............. FrS 7,497.00
Heinrich Gruenberg, Bucarest......... FrS 14,973.25
Baruch Halpern, Bucarest............. FrS 269,036.90
Hanza Romana, Bucarest............... FrS 340.21
Marou Harabaziu, Bucarest............ FrS 20,000.00
Herscovici H. Leib................... FrS 90,525.80
Herscovici Simon, Bucarest........... FrS 30,310.00
Heinrich Hoffman, Bucarest........... FrS 8,472.55
Intercontinentale A.G., Bucarest..... FrS 133,864.00
Intercontinentale A.G., Bucarest c/ FrS 27,258.10
Espagne.
Intercontinentale A.G., Bucarest c/ FrS 11,949.45
Suede.
Avram Adolf Isvoranu, Bucarest....... FrS 193.80
Avram Adolf Isvoranu, Bucarest c/ S 5,000.00
special.
Avram Adolf Isvoranu, Bucarest (c/ L 7,170.00.00
billets de bloque).
Joan C. Kisielevschi, Bucarest....... FrS 10,000.00
Dr. Arthur Kiro, Bucarest............ FrS 1,855,70
Moreno Klarsfeld, Bucarest........... FrS 24,916.35
Sache Klein, Bucarest................ S 1,690.00
Lupu Levensohn, Galatz............... S 243.4.3
Robert Levy, Bucarest................ FrS 5,707.50
Mme Alexander Lichtinger, Bucarest... FrS 22,500.00
Lloyd International, Bucarest........ S 7,521.51
Lloyd International, Bucarest........ FrS 426.47
Erich M. Loewenthal, Bucarest........ FrS 100,115.00
Jules Loventons, Bucarest............ FrS 20,000.00
Leopold Lustig, Bucarest............. FrS 39,698.95
Jerassim Marulis, Bucarest........... FrS 20,000.00
Ing. Gregore Melinte, Bucarest....... FrS 342,623.76
Ing. Gregore Melinte, Bucarest (1 ................... ............
safe loue).
Sigmund Mendelsohn, Bucarest......... S 2,000.00
Mihran D. Mesrobian, Bucarest........ FrS 249,988.60
Lazar Munteanu, Bucarest............. S 2,339.36
Oficiul National de Comert S.A.R., S 218.74
Bucarest c/bloque.
Oficiul National de Comert S.A.R., FrS 11,568.55
Bucarest.
Jose. M. Pincas, Bucarest............ S 5,984.14
Jos M. Pincas, Bucarest.............. FrS 588.60
Heskia Presente, Bucarest............ FrS 66,092.31
Heskia Presente, Bucarest............ S 1,946.39
Heskia Presente, Bucarest (en FrS 8,727.00
especies).
Rachel Presente, Bucarest............ FrS 761,582.55
Rachel Presente, Bucarest............ S 8,315.72
Rachel Presente, Bucarest............ Frances OR 126,000.00
Rachel Presente, Bucarest (en Drachmes 500,000.00
especies).
Rachel Presente, Bucarest (en FrS 8,336.73
especie).
Rachel Presente, Bucarest (en billets L 10,000.00.00
bloque).
M.A. Rand & Co. Bucarest............. L 312.10.4
M.A. Rand & Co. Bucarest............. S 8.77
Simon L. Ross, Bucarest.............. FrS 6,113.30
Maurice Moise Rothmann, Bucarest..... FrS 6,445.90
Maurice Moise Rothmann, Bucarest (en S 4,200.00
billets bloque).
Maurice Moise Rothmann, Bucarest..... FrS 4,775.00
Rothschild, Bucarest................. FrS 82,384.35
David Sabetay, Bucarest.............. FrS 140,739.33
Salomon Schapira, Bucarest........... FrS 39,950.00
Simex S.A.R., Bucarest c/M, Goldring. FrS 9,623.97
Simex S.A.R., Bucarest c/Froim FrS 44,668.54
Pricert.
Simex S.A.R., Bucarest c/Fl. Abeles.. FrS 14,407.45
Socerex S.A.R., Bucarest c/No. 1..... FrS 485,817.88
Socerex S.A.R., Bucarest c/bloque FrS 97,000.00
garantie 10%.
Socerex S.A.R., Bucarest c/5% reserve FrS 9,733.25
Socerex S.A.R., Bucarest c/affaires S 7,654.03
Suede.
B. Taingiu, Bucarest................. FrS 30,717.90
Translloyd Maison de Transport, FrS 984.40
Bucarest.
J. Weintraub, Bucarest............... FrS 1,629.70
Nikolaus Zeller, Bucarest............ FrS 5,198.00
------------------------------------------------------------------------
\1\ debit.

------------------------------------------------------------------------
Soldes
Hongree Currency crediteurs
------------------------------------------------------------------------
Rosa Farkas, Budapest................ .................... 9,900.00
Agai & London Budapest............... FrS 899,980.40
Bolban Bartok, Budapest.............. FrS 5,000.00
Mue Rosa Budanovich, Budapest........ FrS 3,995.00
Fleischor Sandor, Budapest........... FrS 470.00
Emile Friedlander, Budapest.......... FrS 119,979.83
Gesellschaft fur Internationalon FrS 17,966.09
Handel & Kommis, Budapest.
Hormes A.G., Budapest................ S 6,498.62
Intercontinentale A.G., Budapest 600 FrS 66,371.24
montant sorvire au paiomont de frot
do 256 Tonnes a Buche.
Alexander Grauss, Budapest........... S 119.70
Goza Guttamann, Szegod............... S 1,449.55
Horvat Istvan, Budapest.............. S 1,140.65
B. Kraicz, Budapest.................. FrS 151,404.95
Fr. Laufer, Budapest................. FrS 183,108.63
Dr. A. Miklos, Budapest:
7,007 pieces d'or do FrS 20-a 30. FrS 210,210
2 pieces d'or do FrS 10-a 15..... FrS 30
----------------------------------
............................... .................... 210,240
Moins solde debiteur............. FrS 175,331.90
==================================
............................... .................... 34,908.10
A Rosenbaum, Budapest................ S 105.44
Zoltan Weiner, Budapest.............. FrS 10,000.00
Hermes Ungar, Allg. Wochselstubo A.G. S 6,493.62
Budapest.
Rosa Farkas, Budapest................ .................... 9,900.00
Agai & London Budapest............... FrS 899,980.40
Bolban Bartok, Budapest.............. FrS 5,000.00
Mue Rosa Budanovich, Budapest........ FrS 3,995.00
Fleischor Sandor, Budapest........... FrS 470.00
Emile Friedlander, Budapest.......... FrS 119,979.83
Gesellschaft fur Internationalon FrS 17,966.09
Handel & Kommis, Budapest.
Hormes A.G., Budapest................ S 6,498.62
Intercontinentale A.G., Budapest 600 FrS 66,371.24
montant sorvire au paiomont de frot
do 256 Tonnes a Buche.
Alexander Grauss, Budapest........... S 119.70
Goza Guttamann, Szegod............... S 1,449.55
Horvat Istvan, Budapest.............. S 1,140.65
B. Kraicz, Budapest.................. FrS 151,404.95
Fr. Laufer, Budapest................. FrS 183,108.63
Dr. A. Miklos, Budapest:
7,007 pieces d'or do FrS 20-a 30. FrS 210,210
2 pieces d'or do FrS 10-a 15..... FrS 30
----------------------------------
............................... .................... 210,240
Moins solde debiteur............. FrS 175,331.90
==================================
............................... .................... 34,908.10
A Rosenbaum, Budapest................ S 105.44
Zoltan Weiner, Budapest.............. FrS 10,000.00
Hermes Ungar, Allg. Wochselstubo A.G. S 6,493.62
Budapest.
------------------------------------------------------------------------

------------------------------------------------------------------------
Soldes
Claimant Currency crediteurs
------------------------------------------------------------------------
BULGARIE

Nissin Hasan, Sofia.................. FrS 23,774.30
B. Heilborn, Sofia................... FrS 165,117.18
Sergey Kalendjieff, Sofia............ FrS 68,684.35
Marco Markoff, Sofia................. FrS 39,249.10
Joseff Bohor Yulzeri, Sofia.......... FrS 4,512.00

CROATIE

A. Debenjiak, Zagreb................. FrS 34,436.22
``Jadran'' Int. Transp., Zagreb...... FrS 14,958.62
``Jadran'' Int. Transp., Zagreb...... Kuna 10,069.00
Export Ste. Commle., Split........... S 2,258.58
Export Ste. Commle, Split............ FsS 360,565.00

MORAVIN

Dr. Erwin Karpeles, Brno............. FrS 5,930.70

SLOVAQUIE

Richard/Julius Heimann............... FrS 15,000.00
W. Markstein, Bratislava............. Fl 599.22
W. Markstein, Bratislava............. L 2,100.00
W. Markstein, Bratislava............. S 4,539.32
W. Markstein, Bratislava............. FrS 27,528.90
W. Markstein, Bratislava............. Cr. Sl. 5,162.60

FRANCE

Establissements Douillet & Fils, S USA 19,632.66
Domleger.
Establissements Douillet & Fils, FrS 900.01
Domleger.
Alice Eisinger, Marseille............ FrS 17,078.50
Alice Eisinger, Marseille............ $ USA 1,365.15
Alice Eisinger, Marseille plus $ Can. 291.68
differents titres americains.
Eliane Eisinger, Marseille plus $ USA 1,083.54
differents titres americains.
H. Yulzari, Casablanca............... FrS 84,648.65
Ph. de Tristan, Paris: Trustee pour FrS 60,950.10
Foreign Mortgage and Investment Co.
Ld. St. Johns Nfnd.

HOLLANDE

Amsterdamsche Goederen Bk. Amsterdam. FrS 14,090.40
M. H. Bregstein, Amsterdam........... FrS 18,043.15
J. H. Meesmann, Amsterdam............ FrS 55,578.30
Ed. Sylmans, Rotterdam............... FrS 47,476.85

[[Page S3033]]

DANEMARK

F. Boehn, Copenhague................. FrS 43,538.70
------------------------------------------------------------------------

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