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137 BOARD OF GOVERNORS Of' THE FEDERAL RESERVE SYSTEM ·-· WASHINGTON S-576 ADDRESS DF"P"ICIAL CDAAEBPDNDENCE TD THE BDAAD • October 30, 1942 . • Dear Sir: • • • • There is enclosed a photostat of a letter dated October 27, 1942, which the Board has received from the United States Maritime Corm:nis:oion addressed to all Federal Reserve Banks, regarding the insertion of certain special conditions in guarru1tee agreements executad pursuant to Executive Order No. 9112. We have in our records the special conditions enclosed with the above-mentioned letter from the·Maritime Commission duly authenticated by Mr. W. C..Peet, Jr., Secretar.y, United States Maritime Commission; m1d a mimeographed copy of these special conditions is enclosed herewith. It will be observed that the special conditions enclosed with the Maritime Conunission 1 s letter arc identical with those which were enclosed with letters addressed to all Federal Reserve Banks under date of October 9, 1942, by the War Department m1d the Navy Department . Your attention is called to the fact that, while the Maritime Commission's letter ~s substantially the same as the letters addressed by the War and Navy Departments to the Federal Reserve Banks on October 9, 1942, the last paragraph of the Maritime Commission's letter authorizes the Federal Reserve Banks to execute supplemental agreements containing the special conditions without further submission of the matter to the Maritime Co.mrnission for approval, "provided that the inclusion of such conditions in no way alters the original intent of any executed guarantee agr0ements. 11 We have had informal discussions with a representative of the Maritime Commission as to the meaning of this limitation; and we have been • .. • 138 . .. -2- S-576 advised that the language above quoted is intended to.have no application except with respect to a particular case in the I~inth Federal Reserve District' and may therefore be disregarded qy all Federal Reserve Banks except by the Federal Reserve Bank of Minneapolis in connection with that particular case. We are furnishing a copy of this letter to the Maritime Con~ission. Ver.t truly yours, ~-~. f'CA~At---L. P. Bethea, Assistant Secretary . • Enclosures 2 • TO THE PRESIDENTS OF ALL FEDEJ;I.AL H.ESERVE BANKS (Enclosures with addressed copies only.) • •
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