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FEDERAL RESERVE BANK
OF NEW YORK
Circular No. 2107, August 2, 1940
Reference to Circulars Nos. 2044, 2046, 2050, 2053, 2056, 2057, 2058,
2059, 2060, 2062, 2063, 2064, 2065, 2069, 2070, 2071, 2073, 2074, 2078, 2080,
2081, 2082, 2083, 2085, 2086, 2087, 2090, 2094, 2098, 2099, 2101 and 2105.

Executive Order No. 8389, April 10, 1940, as Amended, and Regulations
Issued Pursuant Thereto, Relating to Transactions
in Foreign Exchange, Etc.
To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

For your information we quote below the text of a telegram received today from the
Treasury Department:
The following general license has been issued today by the Secretary of the Treasury pursuant
to Executive Order 8389 and the Regulations issued thereunder.

CODE OF FEDERAL REGULATIONS
Title 31—Money and Finance: Treasury
Chapter I—Monetary Offices, Department of the Treasury
Part 156
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY

GENERAL LICENSE NO. 26 UNDER EXECUTIVE ORDER NO. 8389, APRIL 10, 1940, AS
AMENDED, AND REGULATIONS ISSUED PURSUANT THERETO RELATING
TO TRANSACTIONS IN FOREIGN EXCHANGE, ETC.*
A general license is hereby granted under section 13A (2) of Executive Order No.
8389, of April 10, 1940, as amended, authorizing the acquisition by, or transfer to, any
person within the United States of any interest in any American depositary receipt or
American share physically situated within the United States representing any security or
evidence thereof not physically situated within the United States which receipt or share
was admitted to dealings on a national securities exchange on and prior to July 25, 1940;
provided, however, that this general license shall not be deemed to authorize the issuance
of American depositary receipts or American shares against the deposit after July 25, 1940
of any security or evidence thereof not physically situated within the United States; and,
provided that this general license shall not be deemed to authorize any transaction prohibited by reason of any provision (or ruling or regulation thereunder) of such Order
other than section 13A (2).
D. W. BELL

August 2, 1940.

Acting Secretary of the Treasury

* Part 156;—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution No. 69, 76th Congress; 12 U. S. C. 95a; Ex. Order 6560, Jan. 15, 1934; Ex. Order 8389, April 10, 1940; Ex. Order 8405,
May 10, 1940; Ex. Order 8446, June 17, 1940; Ex. Order 8484, July 15, 1940; Ex. Order 8493, July 25, 1940;
Regulations, April 10, 1940, as amended May 10, 1940, June 17, 1940 and July 15, 1940.

Additional copies of this circular will be furnished upon request.




GEORGE L. HARRISON,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102