REPORT OF THE AGENT GENERAL
FOR REPARATION PAYMENTS
BERLIN, June 10, 1927

Exhibit II. Revised Distribution of Second Annuity ---Showing Shares of the Respective Powers. (In thousands of gold marks.)
	Army Costs
	Arrears	Current	Belgian War Debt		Restitution	American Mixed Claims	Reparation	Total Share
1. France	10,628	105,833	21,456		5,735	---	440,780	584,432 a
2. British Empire	8,018	25,000	18,424		129	---	189,022	240,593
3. Italy	---	---	---		111	---	85,919	86,030
4. Belgium	---	20,843	6,874		2,868	---	74,735	105,320 a
5. Serb-Croat- Slovene State	---	---	---		92		42,960	43,052
6. United States of America	---	---	---		---	19,777	---	19,777
7. Rumania	---	---	---		249	---	9,451	9,700
8. Japan	---	---	---		---	---	6,444	6,444
9. Portugal	---	---	---		---	---	6,444	6,444
10. Greece	---	---	---		---	---	3,437	3,437
11. Poland	---	---	---		---	---	---	166
Totals	18,646	151,676	46,754		9,350	19,777	859,192	1,105,395
	Interest earned and gain in exchange included in the above distribution								3,157
									1,102,238
	Service of German External Loan								92,234
	Costs of Inter-Allied Commissions								18,118
	Discount on Railway Interest								7,410
	Total of Second Annuity								1,220,000
a These figures give effect to an agreement between the Belgian and French Governments whereby a portion of the total share accruing to the latter, and amounting to 6,000,000 gold marks. has been made available, to the former.

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Exhibit III. Revised Distribution of Third Annuity---Showing Shares of the Respective Powers. (In thousands of gold marks.)
	Army Costs
	Arrears	Current		Belgian War Debt	Restitution	American Mixed Claims	Reparation		Total Share
1. France	14,250	100,000		26,806	7,165	---	596,455		744,676
2. British Empire	10,750	25,000		23,018	162	---	251,255		310,185
3. Italy	---				138	---	96,596 b		96,734
4. Belgium	---	16,000		8,588	3,582	---	48,305 a		76,475
5. Serb-Croat- Slovene State	---	---		---	115	---	48,293 b		48,408
6. United States of America	55,000	---		---	---	24,708			79,708
7. Rumania	---	---		---	312	---	11,856		12,168
8. Japan	---	---		---	---	---	8,212		8,212
9. Portugal	---	---		---	---	---	8,164		8,164
10. Greece	---	---		---	---	---	4,298		4,298
11. Poland	---	---		---	208	---	---		208
Totals	80,000	141,000		58,412	11,682	24,708	1,073,434		1,389,236
	Service of German External Loan							91,500
	Costs of Inter-Allied Commissions							12,785
	Discount on Railway Interest							6,479
	Total of Third Annuity							1,500,00
a In accordance with Articles 6 6 B and C of the Finance Minister's Agreement of January 14, 1925, the reparation share of Belgium has been reduced by 3.5 per cent and the amount thus released has been allocated to France and the British Empire in the proportion of 52:22. b In accordance with Article 20 of the Finance Ministers' Agreement of January 14,1925, a deduction of 10 per cent has been made from the total shares of Italy and Serbia. The sums thus rendered available have been distributed among the Powers in arrears on the basis of the provisional percentages notified by the Reparation Commission.

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Exhibit IV. Balance Sheet of the Agent General for Reparation Payments-May 31,1927.
Assets	Gold Marks		Liabilities		Gold Marks	Gold Marks
I. Bank balances and other funds available upon demand valued at the fine gold rate	151,547,672.59		V. Accounts payable:
II. Annuity funds accrued but not due	194,200,000.00		(a) Suspense Account for requisitions and damages under Art. 6 of the Rhineland Agreement as claimed by German Government		5,873,733.33
III. Advance payments. --Advances to Trustees of German External Loan 1924	3,867,092.49		(b) Reparation Recovery Acts----balances owing to German exporters calculated from certificates of collections given by French and British Governments		6,107,111.81
IV. Interest accrued	268,736.98		(c) Deliveries of coal, coke and lignite as per information supplied by National Representatives		12,830,688.53
			(d) Transport of coal, coke and lignite as per information supplied by National Representatives		2,8321395.07
			(e) Deliveries of dyestuffs and pharmaceutical products		81,327.89
			(f) Deliveries of chemical fertilisers and nitrogenous products		197,232.38
			(g) Deliveries of coal by-products		660,687.94
			(h) Deliveries of refractory earths		7,989.22
			(i) Deliveries of agricultural products		1,430,025.58
			(j) Deliveries of timber		940,497.73
			(k) Deliveries of sugar		261,383.84
			(1) Miscellaneous deliveries		6,613.424.50	37,836,497.82
			VI. Allied and Associated Powers---funds allocated and uncovered by payments or accounts payable, calculated on the basis of the schedules of distribution of the Annuities as provisionally adopted by the Reparation Commission:
				Funds committed under approved contracts	Funds uncommitted
			(a) France	43,168,161.06	34,336,473.36
			(b) British Empire	---	105,282.22
			(c) Italy	1,120,674.40	5,815,988.03
			(d) Belgium	512851522.40	15,974,812.20
			(e) Serb-Croat-Slovene State	5,416,679.65	193,750.95
			(f) United States of America	---	21,630.36
			(g) Rumania	135,460.--	57,4O7.81
			(h) Japan	---	3,637,.896.75
			(i) Portugal	128,348.19	35,688.55
			(j) Greece	880.00	52.278.31
			(k) Poland	---	27,260.79
				55,255,725.70	60,258,469.33	115.514,195.03
			VII. Funds unallocated:
			(a) Annuity funds accrued but not due (per contra)		194,200,000.00
			(b) Appropriations for Prior Charges not required for that purpose		1,154,698.11
			(c) Interest earned and difference in exchange		1,178,111.10	196,532,809.21
Total	349,883,502.06		Total			349,883,502.06

Exhibit V.

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