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83

TELEGRAM

X-7371*

EEDERAL RESERVE BOARD
Washington

March 16, 1933
Kimball
New York
Your wire March 15.

O f f i c e of Comptroller of Currency a d v i s e s t h a t ,

notwithstanding appointment of conservator f o r n a t i o n a l hank under
Bank Conservation Act, d e p o s i t s r e c e i v e d "by such bank p r i o r to appointment of conservator i n s p e c i a l t r u s t accounts created under the p r o v i s i o n s of Regulation No. 7 of the Secretary of the Treasury i s s u e d
March 6, 1933, may he withdrawn upon demand without r e s t r i c t i o n or
l i m i t a t i o n t o the f u l l extent of the amount of cash, Federal r e s e r v e
bank balances and proceeds of United S t a t e s o b l i g a t i o n s i n which such
d e p o s i t s have been kept separate or i n v e s t e d i n accordance with t h e
p r o v i s i o n s of s a i d r e g u l a t i o n No. 7.




Morrill

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