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FEDERAL RESERVE BANK
OF NEW YORK
r Circular No. 2 3 1 1 1
L November 7, 1941 J

CONSUMER CREDIT
REGISTRATION UNDER REGULATION W
OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

The forms of Registration Statement required under Regulation W, designated as Form F.R. 563, will be ready for distribution shortly. It will be
appreciated if the banks and others who are particularly interested in consumer
credit will assist in the distribution of the forms and publicize the fact that
the forms may be obtained at their offices.
Details regarding the registration requirements are set forth on the following
pages. Two copies of the form of Registration Statement will ordinarily be
needed by each Registrant, one to be executed by an authorized person and
returned directly to this bank, and the other to be retained by the Registrant.
Upon receipt of the completed statement, we will mail the Registrant a
"Registration Certificate".
In order that we may be in a position to distribute the forms as expeditiously as possible, we should appreciate your returning the enclosed card at
your earliest convenience after having indicated thereon the number of copies
of Form F.R. 563 and of this circular which you will need.




ALLAN SPROUL,

President.

NOTICE REGARDING REGISTRATION IN CONNECTION WITH REGULATION W
ON CONSUMER CREDIT

Under authority of Executive Order No. 8843 issued by the President of the United States,
dated August 9, 1941, the Board of Governors of the Federal Reserve System on August 21,
1941, issued Regulation W dealing with Consumer Credit. Section 3 of this regulation provides
that all those who are subject to the regulation are required to be licensed. All such persons
and organizations are automatically given a license which continues until December 31, 1941,
but in order to have a license after December 31, 1941, it is necessary, on or before that date,
to file a registration statement on the required form. This notice describes who must register
and how registration is to be accomplished.
Who Must Register
A Registration Statement should be filed by any person or organization which is:
(1) engaged in the business of making instalment sales of any of the articles listed in
the Supplement to Regulation W (which list is printed on the following page), or
(2) engaged in the business of making instalment loans in amounts of $1,500 or less, or
instalment loans in any amount secured by articles listed in the Supplement, or
(3) engaged in the business of discounting or purchasing (or lending on the security of)
instalment obligations arising from transactions described in (1) or (2).
How to Register
Registration is accomplished by filling out Form F.R. 563 and filing it with the Federal
Reserve Bank of New York provided the Registrant's main office is located in the Second
Federal Reserve District, which includes the entire State of New York, Fairfield County,
Connecticut, and the counties of Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth,
Morris, Passaic, Somerset, Sussex, Union and Warren in the State of New Jersey. Only one
copy of the Registration Statement need be filed; the second copy is provided for the files of
the Registrant.
Only one Registration Statement is required for any one person or corporation, which
will cover the main office and all branches, but each subsidiary, if it is a separate corporate
entity and is engaged in the business outlined above, is required to file a separate Registration
Statement.
Instructions for filling in Form F.R. 563 are given on the back of the form, and these are
intended to enable the Registrant to fill in the form quite readily. If in completing the statement, however, any Registrant has questions which are not answered by these instructions, or
finds that following the instructions exactly would cause undue expense or inconvenience, the
Registrant should take up such questions with the Federal Reserve Bank.
The foregoing notice applies only to persons who are in business and are required to
register on or before Dece?nber 31, 1941. For persons who begin business after that date and
who will be required to register, an appropriate form and instructions will be obtainable from
the Federal Reserve Bank at that time.




ARTICLES OF CONSUMERS' DURABLE GOODS LISTED IN
SUPPLEMENT TO REGULATION W
(Whether new or used)

Group A
1. Automobiles (passenger cars designed for the purpose of transporting less than
10 passengers, including taxicabs)
Group B
1. Aircraft (including gliders)
2. Power driven boats, and motors designed for use therein, other than boats or
motors designed specifically for commercial use
3. Outboard boat motors
4. Motorcycles (two or three-wheel motor vehicles, including motor bicycles)
Group C
1. Mechanical refrigerators of less than 12 cubic feet rated capacity
2. Washing machines designed for household use
3. Ironers designed for household use
4. Suction cleaners designed for household use
5. Cooking stoves and ranges with less than seven heating surfaces
6. Heating stoves and space heaters designed for household use
7. Electric dishwashers designed for household use
8. Room-unit air conditioners
9. Sewing machines designed for household use
10. Radio receiving sets, phonographs, or combinations
11. Musical instruments composed principally of metals
Group D
1. Household furnaces and heating units for furnaces (including oil burners, gas conversion burners, and stokers)
2. Water heaters designed for household use
3. Water pumps designed for household use
4. Plumbing and sanitary fixtures designed for household use
5. Home air conditioning systems
6. Attic ventilating fans
7. New household furniture (including ice refrigerators, bed springs, and mattresses
but excluding floor coverings, wall coverings, draperies, and bed coverings)1
8. Pianos and household electric organs
Group E
1. Materials and services (other than materials listed in Group C or D) in connection
with repairs, alterations, or improvements upon urban, suburban, or rural real
property in connection with existing structures, provided the deferred balance
does not exceed $1,000
1

An article is not new if it has been used by a consumer.




Please forward to us
copies of Registration Statement (Form F.R. 563) for
use under Regulation W of the Board of Governors of the Federal
Reserve System relating to consumer credit; and
additional copies of your Circular No. 2311.


(Date)


(Name —typewrite or print)
(Signature)
(Street Address)
(City or Town)

(State)

FEDERAL RESERVE BANK OF NEW YORK




Federal Reserve Station, P. O.,
New York, N. Y.

THE PROCLAIMED LIST OF CERTAIN
BLOCKED NATIONALS




Supplement No. 3, November 7, 1941
to

the

PROCLAIMED LIST
Issued July 17, 1941

SUPPLEMENT NO. 3 OF NOVEMBER 7, 1941, TO

THE PROCLAIMED LIST OF CERTAIN BLOCKED NATIONALS
ADMINISTRATIVE ORDER
By virtue of the authority vested in the Secretary of State, acting in conjunction with the
Secretary of the Treasury, the Attorney General, the Secretary of Commerce, the Economic
Defense Board, and the Coordinator of Inter-American Affairs, by Proclamation 2497 of the
President, promulgated July 17, 1941 (6 F. R. 3555), the following Supplement No. 3 containing
certain additions to, deletions from, and amendments to "The Proclaimed List of Certain Blocked
Nationals", promulgated July 17, 1941, is hereby promulgated.
Date: November 7, 1941.




By direction of the President:
CORDELL HULL

Secretary of State
HENRY MORGENTHAU,

Jr.

Secretary of the Treasury
FRANCIS BIDDLE

Attorney General
WAYNE C. TAYLOR

Acting Secretary of Commerce
M I L O PERKINS

Executive Director, Economic Defense Board
NELSON A.

ROCKEFELLER

Coordinator of Inter-American

Affairs
l

ADDITIONS
ARGENTINA
Argentina de Mandates, Cia. (Argentine
134 Reconquista, Buenos Aires.
Trust Co. Ltd.).
Biester, Hans (U. F. A.) ;
Lavalle 2057, Buenos Aires.
Decker, Guillermo
1329/53 Sarandi, Buenos Aires.
Fenner-Achenbach, Rodolfo Arturo
Buenos Aires.
Finger, Pablo
375 Peru, Buenos Aires.
First Pan American Mercantile Corporation .
Buenos Aires.
Gangler, Camilio M. F
Paseo Colon 285, Buenos Aires.
Holzmann Monaco, Michel (Produmet ArHotel Alvear Palace, Buenos Aires.
gentina).
Intercambio Coniercial xlmericano
536 Tucuman, Buenos Aires.
Lange, Otto
218 Bolivar, Buenos Aires.
Maubach, Guillermo
Sarmiento 381, Buenos Aires.
Bolivar 535, Buenos Aires.
Montagna, Luis
Av. R. S. Pefia 530, Buenos Aires.
Mucball & Companfa, Sucesores (George
Steinhorst).
Oberst Hnos. (Herman and Pedro) . . . . ;
Rodriguez Pefia 154, Buenos Aires.
Oses, Enrique (El Pampero)
Buenos Aires.
Produmet Argentina (Michel Holzmann
Buenos Aires.
Monaco).
Retienne Sociedad en Comandita, Eduardo
Sarmiento 1127, Buenos Aires.
(Drogueria Retienne).
Steinhorst, George (Muchall & Compania,
Av. R. S. Pefia 530, Buenos Aires.
Sucesores).
U. F. A. (Hans Biester)
Lavalle 2057, Buenos Aires.
Von Schulz-Hausmann, F
Bernardo Irigoven 330, Buenos Aires.
Wilckens Hermanos
;
Carlos Tejedor 1742, Lanus.
BOLIVIA
Barraca Ferdinandt (Kurt Ferdinandt) ; : :
Bollweg, L. ("El Sol")
Botica Germania (Sra. Beatriz Deuz viuda de
Kummel; Arnold Glaeser; Teofilo Montano).
Brito, Gctavio
Diaz, A
"El Sol" (L. Bollweg) . . . ; ; : s ; ; 2
Escher, Leo
. . ;
Ferdinandt, Kurt (Barraca Ferdinandt) . ; s
2




Oruro.
Oruro.
Oruro.
La Paz.
La Paz.
Oruro.
Sucre.
Oruro.

o

ADDITIONS

BOLIVIA—Continued.
Ferreteria Findel (John Schmidt: Ernest
Rude).
Glaeser, Arnold (Botica Germania)
Gumucio (Gumuchio), Juan
Imprenta y Libreria "La Escolar" (Francisco
Forns Samso).
James, Eduardo
. . . . . . ;
Kummel, Sra. Beatriz Deuz viuda de (Botica
Germania).
Montano, Teofilo (Botica Germania) . . . .
Rude, Ernest (Ferreteria Findel)
Schmidt, John (Ferreteria Findel)
Virreira, Renato
BRAZIL
Agro Chimica L t d a . . . . . . . i
Artigos Dentarcos Poladon Limitada
Auto-Radio Ltda

. . . .
. . . .

Brito, Antonio O. (Antonio de Oliveira
Brito).
Cervejaria Atlantica, S. A
Cervejaria Moravia, Companhia
Condor Ltda., Servicos Aereos (Syndicate
Condor Ltda.)
Correa da Costa, Antonio
de Almeida & Cia. Ltda., Barreira
de Almeida & Cia., Furtado
de Oliveira Brito, Antonio (Antonio O. Brito) .
Despachos Almeida Ltda., Casa de
Diamants et Carbones, S. A
Fabrica Fiel Ltda
Farmaco Limitada
Ferreira, A. (Laboratorio VeritasLtda.) . . .
Fiagao e Tecelagem Sao Leopoldo Ltda. . ;
Filippone & Cia., G. . .
Fouquet, Paul
; ; . . . . .
Giesseler, Guilherme (Wilhelm Adolf Paul
Gieseler).
Goichbum, Chuno
. ; ; ; : : : ; ; : : ;




- Oruro.
Oruro.
Cochabamba.
P. O. 476, Potosi, 490, La Paz.
Tarija.
Oruro.
Oruro.
Oruro.
Oruro.
Tarija and Tupiza.

Rua Libero Badaro 73, Sao Paulo.
Rio de Janeiro.
Rua Barao de Itapetininga 288, Sao
Paulo.
Rio de Janeiro.
Rua Iguassu 153, Curitiba, Parana.
Rua Rio Grande 551, Sao Paulo.
Avenida Rio Branco 128, Rio de Janeiro.
Rua General Camara 106, Rio de Janeiro.
Rua Jose Bonifacio 278, Sao Paulo.
Rua 3 de Dezembro 17, Sao Paulo.
Rio de Janeiro.
Rua Jose Bonifacio 278, Sao Paulo.
Rua 1° de Marco, Rio de Janeiro.
Rua Guaycurus 225, Sao Paulo.
Rua Sao Bento 22, Rio de Janeiro.
Avenida Augusto Severo 58, Rio de
Janeiro.
Sao Paulo.
Rua Senador Dantas 35-A, Rio de
Janeiro.
Rua 1° de Marco, Rio de Janeiro.
Rua Pero Correia 33, S. Vicente, Santos.
Rua Sao Pedro 30, l c andar, Rio de
Janeiro.

4

ADDITIONS

BRAZIL—Continued.
Hanstein, Wolfgang
. : ; ; ; : ; ; : ; ; ;
Hasenclever & Cia., Ltda., Alexandra . . .
Hoos, George Kurt
. . . . . . . . . . .
Interam Exportadora, Ltda., Sociedade . . .
Intercontinental Sociedade Exportadora e
Importadora.
Isolectra Ltda. . . . ; ; . . .
Italo Brasileira de Industria e Ccrnmercio
S. A., Companhia.
Jopila Exportadora, Ltda
Kraus, Franz
Laboratorio Veritas Ltda. (A. Ferrcira) . . .
Lodders, Ricardo
Maselli, Arthur
Pereira & Companhia, Liraitada, Arantes . .
Pirelli, S. A., Compar.hia Industrial Brasileira.
Pires, Manoel
ProdutosdeLavouraLtda
Rouviere, Edmundo
Schiefferdecker, Henrique
Schmidlin, Hugo (Schmidlin & Companhio). .
Schmidlin & Companbia (Hugo Schmidlin;
Hortz von Zimmermann).
Schmitt & Cia., Ltda
Selmi & Cia., Ltda
Silva&Cia
Thewico do Armazens Geraes S. A., Companhia.
Urbach, Joseph
Von Klobusitzky, Dionisio M. (Dr.)
. . . .
Von Zimmermann, Hortz (Schmidlin & Companhia).
Westphalen, Bach, Krohn & Cia . . . . . .
Wolffmetal Ltda
CHILE
Condor, Ltda., Sindicato (Sindicato Condor,
Ltda.)
Engel, Alberto (Ejigel y Cia.)
; : : : ; ; ;
Sindicato Condor Ltda. (Condor Ltda., Sindicato).




8 Rua Mayrink Veiga, Rio de Janeiro.
Rua Mayrink Veiga 4/3°, s-4, Rio de
Janeiro.
Fortaleza, Ceara.
Rua Silo Pedro 39-1°, Rio de Janeiro.
Rua da Alfandega 84, Rio de Janeiro.
Julio Colaco 59, Sao Paulo.
Rua Deocleciana 15, Sao Paulo.
Recife, Pernambuco.
Rua General Camara 41, Rio de Janeiro.
Avcnida Augusto Severo 58, Rio de Janeiro.
Av. Rio Branco 69/77, Rio de Janeiro.
Praca Maud 7, s/1510, Rio de Janeiro.
Rua Jose Bonifacio 278, Sao Paulo.
Sao Paulo and Rio de Janeiro.
Rua 15 de Novembro 204, Santos.
Rua Libero Badaro 73, Sao Paulo.
Rua Duvivier 43, Rio de Janeiro.
Sao Paulo.
Rua Tamoyos 487, Bello Horizonte, Mill as Gcracs.
Rua Tamoyos 487, Bello Horizonte, Minas Geraes.
Rua 24 de Maio 207, Sao Paulo.
Rua Portugal 9, Bahia.
Rua Portugal 26, Bahia.
Avenida Rodrigues Alves and Avenida
Rio Branco 79/81, Rio de Janeiro.
Avenida Sao Joao 239, Sao Paulo.
Rua Vohmtarios da Patria 132, Rio do
Janeiro.
Rua Tamoyos 487, Bello Horizonte,
Minas Geraes.
Rua Miguel Calmon 36, Bahia.
1200 Rua Hypodromo, Sao Paulo.

All branches in Chile.
Santo Domingo 1025, Santiago.
All branches in Chile.

ADDITIONS

COLOMBIA
Ahrens, Heinricli
. : . :
Almacen Flandes (Rudolfo Borchers) . . . .
Almacen Krnko (C. Enrique Kruse & Co.). .
Almacen de Radios y Discos Walter Pilgrim .
Alwers, K u r t B
Ariza V., Gabriel
Bauer, Carlos ("La Blanca")
Bermit, Wilhelm
Bieler, K u r t
Bilhuber, Otto
Borchers, Rudolfo (Almacen Flandes) . . . .
Brill, Herbert
Buff, Clemens
B u r c k h a r d t , Luis A
Cerveceria Alemana (Fred Starke)
Cerveceria Baviera (Otto T. Stangel) . . . .
Colombiana de Maquinas Pfaff Ltda., Com-

pafiia.
Cristaleria Zapp (Zapp & Cia.)
Derka, Anton
Di Domenico, Giovanni (Tipografia Olympia).
Ehlers, Walter
Estornaiolo, Hipolito
Fabrica Nacional de Articulos de Aluminio

Bogota.
Girardot.
Apartado 175, Cali.
Carrera 7, No. 21-46, Bogota.
Cali.
Barranquilla.
Carrera 4, Calle 13 and 14, Cali.
Bogotd.
Calle 13, No. 5-56, Cali.
Carrera 6 between Calles 11 and 12, Cali.
Girardot.
Medellin.
Medellin.
Apartado 195, Cali.
Pas to, Narifio.
Pas to, Narifio.
Carrera 8, 17-60, Bogota and all branches.
Calle 12, 7-66/70 Bogota.
Medellin.
5052 Calle 54, Medellin.
Cartagena.
Pasto, Narifio.
Apartado Nacional 568, Barranquilla.

"FANAL", S. A.

Fadul y Cia., Miguel
Ferreteria "El Yunque"
Foto Aleman (George Koestner)
Gallo & Co., Miguel
Ganaderia de Saldafia S. C. Rocha & Cia . .
Gast, Hans Otto
Gonzalez, Marco Tulio . . ; ;
Gruetzmacher & Cia. (Punto Azul)
Gundlach, Reinhard
Haase, Friederich Wilhelm . . ;
Hacienda Berlin
: : . . . : .
Haeberlin, Francisco
. . . . ; . . . . ; ;
Held, Adolfo K
.
Hossfeld & Hamm
Jesse, Federico
; ;
Kallab (Kailab), Herman ; . . ;




125 Calle de la Soledad, Cartagena.
Plaza de San Nicolas, Barranquilla.
Pasto, Nariiio.
72 Calle del Porvenir, Cartagena.
Bogota.
305 Edificio Banco Aleman Antioqueno,
Bogota.
Bogota.
Carrera 7, No. 20-35, Bogota.
Medellin.
Apartado 479, Progreso Boyaca, San
Roque, Barranquilla.
Rio Negro.
Pasto, Narifio.
Barranquilla.
Apartado 290, Cali.
Cali.
Apartado 2736, Bogota.

6

ADDITIONS

COLOMBIA—Continued.
Kanterreith, Karl

. . . ; . ; . . . ; . ;

Kiehn, Max
Koestner, George (Foto Aleman)
Kores, S. A. (Koreska)
Kraekow, Felix
Kreutz, Albert
Ki-use & Co., C. Enrique (Almacen Kruko;
Willi Kukat).
Kubart, Johann (Kores, S. A.)
Kuebler, Ruperto
Kuhlmann, Gustavo
Kukat, Willi (C. Enrique Kruse & Co.) . . .
Kurk, Karl Theodor
Lange, Fritz
Lehmann, Karl (Carlos)
Luers, Hans W
Moreno Alvarez, Pablo
Mortler, Alejandro
Munch, Ernesto
Optica Alemana (Walter Sclimidt)
Ordonez & Lullemann
Ortlimueller, Adolf
Pattern, Max
Puente y Gonzalez
Rasmussen, Ferdinand
Reissner, Paul
Rummle, Max
Schroder, Otto E
Schulte & Cia,, G
Schwerttfeger, Hans L
Siegert, Christian
Stadtlaender, Karl A
Stangel, Otto T. (Cerveceria Baviera) . . .
Starke, Fred (Cerveceria Alemana)
Stoehr, Egon L
Stumpf, Wilhelm
Tipografia Olympia (Giovanjii Di Domenico) .
Troll, B. Richard
Von Bockelmaim, C. H.. :




Medellin.
Pasto, Narifio.
Pasto, Narifio.
Calle 17, No. 9-40, Apartado 869,
Bogota.
Medellin.
Pasto, Narifio.
Apartado 175, Cali.
Calle 17, No. 9-40, Bogota. .
Edificio del Banco de Bogota, Cali.
Apartado 119, Cali.
Apartado 175, Cali.
Medellin.
Pasto, Narifio.
Pop ay an.
Medellin.
Medellin.
Medellin.
Pasto, Narifio.
Calle 12, Carreras 5a y 6a, Cali.
Calle 13, No. 6-32, Cali.
Bucaramanga.
Pasto, Narifio.
Bucaramanga and Barranquilla.
Cali.
Barranquilla.
Cali.
Apartado 121, Cali.
Apartado 449, Bogota, and Apartado
852, Barranquilla.
Medellin.
Bogota.
Bogota.
Pasto, Narifio.
Pasto, Narifio.
Pereira.
Cali.
5052 Calle 54, Medellin.
Cali.
Cali.

ADDITIONS

COLOMBIA—Continued.
Von der Heide, Gunter

. . . . . . . ; . ;

Weber, Hans
Wernher, Hans.

; ; : : ; : ; ; . . . . ;

Wunderlich & Co., Gerhard .
Zapp & Cia. (Cristaleria Zapp)
COSTA RICA
Andre, Arnold (Arnoldo) . . . . . . . . .
Andre, Otto
Angulo Marin, Guillermo (LA EPOCA) . . .
Baumgartner Lehmann, Adolfo (Union Agency
Co., S. A.)
Delcore Belluci, Amadeo .
Efinger, Max
Fernandez Parma, Claudio
Fischbeck, Gerhard
German Club (Club Aleman)
German School
Grebien, Ferdinand
Hauke, Emil
Herrera G., Hernan
.
Kliefoth, Richard
.
Kloss, Walter
Krogmann, O. W
Kruse, Alfredo
LA EPOCA (Guillermo Angulo Marin) . . . .
Lindgens, Rudolf
Lorenzen, Detlef
Merlein, Max
Navarette (Navaretti), Juan
Neumann, Richard
Preinfalk, Friedrich
Quijano, Rodolfo
Scherer, Stephan
Union Agency Co., S. A. (Adolfo Baumgartner
Lehmann).
Vedoua, Franz Ferdinand . . . . ; ; . . .
TVimmer, Otto
Ziegler, Paul
424955'




Apartado 402, Cali.
Edificio Napolitana, Progreso, San Bias,
Barranquilla.
Apartado Aereo 4230, Apartado Nacional
468, Bogota.
Apartado 174: 20 de Julio, Real, Comercio, Barranquilla.
Calle 12, 7-66/70, Bogota.

San Jose.
San Jose and Cartago.
San Jose.
Apartado 1712, San Jose".
Puntarenas.
San Jose.
San Jose.
Port Lim6n.
San Jose".
San Jose.
San Jose*.
San Jose".
San Jose*.
San Jose".
Puntarenas.
San Jose.
Puntarenas.
San Jose*.
San Jose,
San Jose"

San Jose.
Port Lim6n.
Apartado 1712, San Jose\
San Jose".
Port Lim6n.
San Jose.

8

ADDITIONS

CUBA
Berndes y Compafiia, Charles E
Colegio Aleman
, .
Exclusivas Berndes
Friederich, Roberto
Pharmaceutical Importers, S. A
Pinks, Anton
Pinks, Gerhard
Schering Pharmaceutical Corporation of Cuba,
S. A.
Zimmerman, Enrique (Heinrich)
DOMINICAN REPUBLIC
Barletta, Antonio
Diario del Comercio
Mallorga, Fernando
ECUADOR
Alemana, Casa (Hermann Dreier1)
Brauer, Leopoldo M
Dreier,1 Hermann (Casa Alemana)
Greisbach & Rochl
Gubitz & Schwark
Industrial Beco, C. A., Sociedad
Internacionales, C. A., Agencias

.

'.

Leiberg, Rudolf Joachim
Merello G., Alberto
Pauta Cordova, Emanual
Pierrottet, Tulio
Schwartz, Otto
Stagg, Leonardo
Transocean News Service
Woehlermann, Walter
Zang, Carlos E
GUATEMALA
Administracion General Fincas "La Aurora",
"El Eden", "Nuevo Eden", and "Camelias".
Asseburg & Company (Asseburg Hermanos,
Wilhelm and Adolf) (Fincas "CandelariaXolhuitz" and "Monte Limar").

Repuhlica del Brasil 112, Habana.
19 Calle No. 907, Vedado, Habana.
Consulado 164, Habana.
Teniente Rey 113, Habana.
Habana.
Habana.
Habana.
Habana.
Calle A No. 13, Apartado 874, Vedado,
Habana.
Ciudad Trujillo.
Ciudad Trujillo.
Ciudad Trujillo.
P. O. Box 394, Quito.
Apartado 687, Quito.
P. O. Box 394, Quito.
Quito.
Casilla 433, Quito.
P. O. Box 8, Manta.
216 Junin Street, P. O. Box 1264,
Guayaquil.
2106 Malecon Simon Bolivar, P. O. Box
755, Guayaquil.
P. O. Box 788, Quito.
Cuenca.
424 Calle Clemente Ballen, Casilla 1228,
Guayaquil.
Casilla 564, Guayaquil.
Casilla 645, Guayaquil.
Quito.
P. O. Box 788, Quito.
Casilla 692, Quito.
Candelaria-Xolhuitz, Retalhuleu.
Quezaltenango and Malacat&n, San Marcos.

' To he distinguisbea from the Hermann Drior who is associated with Jacobo Vorbeek.




ADDITIONS

GUATEMALA—Continued.
Augustynski, Max (Finca "La Suiza") . ; ; ;
Boehm, Jorge (Fincas "Chinasajub" and
"Chirrepec").
Bollmann, Jorge (Finca "La Perla"). . . . ;
Bregartner, Maximo (Finca "El Carmen") . .
Buechsel, Gerhard (Buechsel & Co.) (Finca
"Xioacao").
Buhl, Carlotta viuda de (Finca "Alabama
Grande").
Christ, Alfredo (Fincas "Chicoj", "Chicoyonito", and "Magdalena").
Christ, Jose (Fincas "Chicoj", "Chicoyonito",
and "Magdalena").
Daetz Villela Hermanos (Farmacia Verapaz) .
Deutsche Zeitung Guatemala
Doscher, Paul
Droege, Hugo (Finca "San Vicente") . . . .
Farmacia Verapaz (Hermanos Daetz Villela) .
Fickert Forst, Emma viuda de (Finca "Trece
Aguas").
Finca "Actela"
Finca "Alabama Grande"
Finca "Alicia"
Finca "Alsacia"
Finca "Aquil"
Finca "Argentina"
Finca "Armenia" (Maximo Wohlers) . . . .
Finca "Armenia" y Anexos (Teodoro Rehfach).

Finca
Finca
Finca
Finca
Finca
Finca
Finca
Finca
Finca
Finca
Finca
Finca
Finca

"Bola de Oro"
"Bremen"
"Cafetal Hamburgo"
"Camelias"
"Campur"
"Candelaria-Xolhuitz"
"Castanos"
"Cecilia" y Anexos
"Cenizas"
"Cerro Redondo" . ;
"Chiacan"
"Chicoj"
"Chicoyonito"




.
.
; ; .

7a Calle P. No. 36, Guatemala City, and
San Vicente Pacaya. Cob&n, Alta Verapaz.
Chicacao, Suchitepequez.
San Andres Villa Seca, Retalhuleu.
San Pedro Carcha, Alta Verapaz.
Tumbador, San Marcos.
Cob an, Alta Verapaz.
Coban, Alta Verapaz.
Coban.
Ediiicio Paris, 6a Avenida Sur, Guatemala City.
Livingston.
San Pedro Carcha, Alta Verapaz.
Coban.
Senahu, Alta Verapaz.
La Tinta, Alta Verapaz.
Tumbador, San Marcos.
Reforma, San Marcos.
San Rafael Pie de la Cuesta, San Marcos.
Cobdn, Alta Verapaz.
San Rafael Pie de la Cuesta, San Marcos.
Alta Verapaz.
San Rafael Pie de la Cuesta, San Marcos.
Tumbador, San Marcos.
Purulha, Baja Verapaz.
San Felipe, Retalhuleu.
Candelaria-Xolhuitz, Retalhuleu.
San Pedro Carcha, Alta Verapaz.
Quezaltenango.
Chicacao.
San Francisco Zapotitl&n.
Zacapa.
Barberena, Santa Rosa.
San Pedro Carcha, Alta Verapaz.
Cob&n, Alta Verapaz.
Coban, Alta Verapaz.

10

ADDITIONS

GUATEMALA—Continued.
Finca "Chilte"
Finca "Chimax"
Finca "Chimo"
Finca "Chimote"
Finca "Chinama"
Finca "Chinan"
Finca "Chinasajub"
Finca "Chinsajquin"
Finca "Chipemech"
Finca "Chiquihuite"
Finca "Chirrepec"
Finca "Chucul"
Finca "Chulac"
Finca "Cocoyan"
Finca "Concepeion"
Finca "Concepcion-Candelaria"
Finca "Costa Rica"
Finca "Coyocte"
Finca "Dolores"
Finca "El Baluarte"
Finca "El Capucal"
Finca "El Carmen"
Finca "El Corozo"
Finca "El Eden"
Finca "El Encanto"
Finca "El Jacote"
Finca "El Paraiso" y Anexos
Finca " El Pensamiento-Palmira"
Finca "El Peru"

; . ; .

Finca "El Porvenir"
Finca "El Potosi"
Finca "El Rodeo"
Finca "El Rosario"
Finca "El Rosario Bola".
Finca "El Sal to"
Finca"ElTransito"
Finca "Escobillo"
Finca "Esmeralda" (Enrique Hermann). . .
Finca "Esmeralda" (Matilde de, or Maximo
Quirin).
Finca "Florida"
Finca " Guaxpom"
Finca" Jalaute"
- . .




San Pedro Carcha, Alta Verapaz.
Coban, Alta Verapaz.
San Pedro Carcha, Alta Verapaz.
Coban, Alta Verapaz.
Lanquin, Alta Verapaz.
Chicacao, Suchitepequez.
Coban, Alta Verapaz.
San Pedro Carcha, Alta Verapaz.
Cahabon, Alta Verapaz.
Colomba, Quezaltenango.
Coban, Alta Verapaz.
San Antonio, Suchitepequez.
Senahu, Alta Verapaz.
San Pedro Carcha, Alta Verapaz.
Escuintla.
La Reforma, San Marcos.
Chimaltenango.
Tucuru, Alta Verapaz.
Mazatenango, Suchitepequez.
Reforma, San Marcos.
Gualan, Zacapa.
San Andres Villa Seca, Retalhuleu.
Samayac, Suchitepequez.
Candelaria-Xolhuitz, Retalhuleu.
Pueblo Nuevo Vifias, Santa Rosa.
Pochuta, Chimaltenango.
Colomba, Quezaltenango.
San Antonio, Suchitepequez and Tumbador, San Marcos.
San Pablo, San Marcos.
Pochuta, Chimaltenango.
Pochuta.
Tumbador, San Marcos.
Colomba, Quezaltenango.
Tucuru, Alta Verapaz.
Colomba, Quezaltenango.
El Rodeo, San Marcos.
Colomba, Quezaltenango.
Tucuru, Alta Verapaz.
Pochuta, Chimaltenango.
Tucuru, Alta Verapaz.
Purulha, Baja Verapaz.

ADDITIONS

GUATEMALA—Continued.
Finca" Joya Grande" . ; ; j : j : : : : :
Finca "La Abundancia". . . . . . . . . .
Finca "La Aurora" . . . . . - ; : ; . . ; .
Finca "La Concha". . . . . . . . . . . .
Finca "La Esperancita" . . .Finca "La Esperanza" . . ; .
Finca "La Fama" . . . . . . . . . . . .
Finca "La Fe" . . ; ;
Finca "La Florida"
Finca "La Fuente" .
Finca "La Igualdad"
Finca "La Interdependencia"
Finca "La Paz"
Finca "La Perla"
Finca "La Providencia"
Finca "La Suiza" (Max Augustynski) . . . .
Finca "La Suiza" (Wilhelm Greite)
Finca "La Torre"
Finca "La Union"
Finca "Las Amalias"
Finca "Las Animas"
Finca "Las Camelias"
Finca "Las Carolinas"
Finca "Las Mercedes"
Finca "Las Sabanetas"
Finca "Las Vifias"
Finca "Lorena"
Finca "Los Brillantes"
Finca "Los Castafios"
Finca "Los Laureles"
Finca "Magdalena"
Finca "Medio Dia"
Finca " Medio Dia y Filipinas".
Finca "Milan"
Finca "Monte Blanco"
Finca "Monte Limar".
Finca "Morelia-Santa Sofia". :
Finca "Nueva Aguas Pansael"
Finca "Nueva Granada" . . ;
Finca "Nuevo Eden" . . . . : . . . . . .
Finca "Nuevo Mundo" . . ; : ;
Finca " Pachilha"
; . . . ; ; .
Finca "Palmira" . . . . . . : . . . . . .
Finca "Pampa" . . . ; ; ; : ; . . . . .




11

Oriente.
Chicacao, Suchitepequez.
Candelaria-XoLhuitz, Retalhuleu.
Acatenango, Chimaltenango.
Tucuru, Alta Verapaz.
Colomba, Quezaltenango.
San Antonio, Suchitepequez.
Tucuru, Alta Verapaz.
Retalhuleu.
La Reforma, San Alarcos.
Candelaria-Xolhuitz, Retalhuleu.
Reforma, San Marcos.
Chicacao, Suchitepequez.
San Cristobal, Alta Verapaz.
San Vicente Pacaya.
La Reforma, San Marcos.
Chimaltenango.
Nuevo Progreso, San Marcos.
Patalul, Suchitepequez.
Santo Domingo, Suchitepequez.
San Pedro Carcha, Alta Verapaz.
San Martin Zapotitlan, Retalhuleu.
Colomba, Quezaltenango.
Barberena, Santa Rosa.
Barberena, Santa Rosa.
San Rafael Pie de la Cuesta, San Marcos.
Mulua, Retalhuleu.
Chicacao, Suchitepequez.
Nuevo San Carlos, Quezaltenango.
Coban, Alta Verapaz.
San xVntonio, Suchitepequez.
Tumbador, San Marcos.
Chicacao, Suchitepequez.
Purulha, Baja Verapaz.
Malacatan, San Marcos.
Yepocapa, Chimaltenango.
Purulha, Baj a Verapaz.
Tumbador, San Marcos.
Candelaria-Xolhuitz, Retalhuleu.
Malacatan, San Marcos.
Tucuru, Alta Verapaz.
Colomba, Quezaltenango.
Purulha, Baj a Verapaz.

12

ADDITIONS

GUATEMALA—Continued.
Finca "Pancuz" . . . . . - . : : : ; ; : .
Finca " Pantic". . . . . . . . . . . . . .
Finca " Pena Plata". . . ; ;
Finca "Piedras Blancas" .
Finca "Providencia" . . . . . . . . . . .
Finca " Sabana Grande". ;
Finca "Sacham"
Finca "Sacsamani"
Finca "Salitrillo"
Finca "San Andres Osuna"
Finca "San Augustin"
Finca "San Basilio"
Finca "San Carlos"
Finca "San Dionisio"
Finca "San Francisco Miramar"
Finca "San Francisco Pecul"
Finca "San Javier"
Finca "San Juan"
Finca "San Julian"
Finca "San Luis"
Finca "San Rafael Fanjul"
Finca "San Rafael Panan"
Finca "San Vicente"
Finca "Santa Actela"
Finca "Santa Anita"
Finca "Santa Augustina"
Finca "Santa Clara"
Finca "Santa Elena"
Finca "Santa Isabel"
Finca "Santiago"
Finca "Secoyocte"
Finca "Serilquiche"
Finca "Sibaja"
Finca "Sola"
Finca "Soledad"
Finca "Trece Aguas"
Finca "Venecia"
Finca "Westfalia"
Finca "Xicacao"
Gees, Hans (Dr.) (Finca "El Transito") . .
Giesemann & Co., Ad.; Giesemann Hermanos;
Administration Giesemann (Fincas "Alicia", "El Baluarte", and "La Union").
Greite, Wilhelm (Krische Hermanos) (Finca
"La Suiza").




Purulha, Baja Verapaz.
Senahu, Alta Verapaz.
Acatenango, Cliimaltenango.
Baja Verapaz.
Siquinala, Escuintla.
Alta Verapaz.
Purulha, Baja Verapaz.
Barberena, Santa Rosa.
Escuintla, Escuintla.
Suchitepequez.
Santa Barbara, Suchitepequez.
Chimaltenango.
San Felipe, Retalhuleu.
Colomba, Quezaltenango..
San Felipe, Retalhuleu.
Lanquin, Alta Verapaz.
Senahu, Alta Verapaz.
Patalul, Suchitepequez.
Malacatan, San Marcos.
Salama, Baja Verapaz.
Santa Barbara, Suchitepequez.
San Pedro Carcha, Alta Verapaz.
Senahu, Alta Verapaz.
Chimaltenango.
Candelaria-Xolhuitz, Quezaltenango.
Chicacao, Suchitepequez.
Tumbador, San Marcos.
Pueblo Nuevo Viiias, Santa Rosa.
Senahu, Alta Verapaz.
Senahu, Alta Verapaz.
Senahu, Alta Verapaz.
Yepocapa, Chimaltenango.
Colomba, Quezaltenango.
Santa Barbara, Suchitepequez.
Senahu, Alta Verapaz.
Nuevo Progreso, San Marcos.
Purulha, Baja Verapaz.
San Pedro Carcha, Alta Verapaz.
Colomba, Quezaltenango.
Reforma and Nuevo Progreso, San Marcos, and Guatemala City.
La Reforma, San Marcos.

13

ADDITIONS

GUATEMALA—Continued.
Gross, Francisco (Fincas "El Encanto", "La
Esperancita", "La Interdependent", "Los
Laureles", and "Santa Augustina").
Haclimeister & Co., Sues. (Fincas "El Rosario" and "Escobillo").
Hacienda "Chocola"
Hacienda "El Reposo"
Hannstein, Bernardo & Co. (Finca "La Paz").
Hartleben, Federico (Finca "NuevaMundo").
Hastedt, J. Francisco, Sues. & Cia. (Fincas
"Chinan", "El Corozo", "Las Animas",
and "Milan").
Hemmerling, Oswaldo (Finca "LaFuente"). .
Henequenera La Isla
Hermann, Enrique (Finca "Esmeralda") . .
Hermann, Herbert y Hno. (Finca "La
Fama").
Hermann, Lotty (Finca "Chiquihuite") . . .
Hertzsch, Enrique (Fincas "Clmcul" and
"La Fe").
Hoepfner, Hermann, Sues. (Fincas "El Potosi",
"San Rafael Panan", and "Soledad").
Hussmann, Carlos (Finca "San Juan") . . .
Hussmann, Herederos (Fincas "Jalaute",
"Monte Blanco", and "Westfalia").
Hussmann, Netty viuda de (Finca "Providencia").
Hussmann, Otto (Fincas "Pancuz" and "Sacsamani").
Industria Mate Guatemala (Eugenio Wabl). .
Ingenio Palo Gordo
Jauch, Otto (Finca "Lorena") . ;
Jelkmann, Pablo (Finca "Venecia")
. . . .
Kaffee & Import, Ges
Kaufmann & Co., Berta de (Fincas"Cenizas",
"El Capucal", and "Piedras Blancas").
Keller, Herederos de Federico (Fincas "El
Jacote", "Joya Grande", and "Santa
Isabel").
Kloth, Carlos (Finca "Chinsajquin") . . . ;
Knoetzsch, Martin (Nottebohm Hermanos) .
Koeper, Federico, hijo (Fincas "La Concba"
and "Sibaja").




Avenida La Reforma y 5a Calle de Santa
Clara, Guatemala City, and all
branches in Guatemala.
Tumb'ador and El Rodeo, San Marcos.
San Pablo Jocopilas, Suchitepequez.
Genova, Quezaltenango.
La Reforma, San Marcos.
Malacatan, San Marcos.
Ciudad Vieja, Santo Domingo, Samayac,
and Chicacao, Suchitepequez.
Retalhuleu, Retalhuleu.
Alta Verapaz.
Colomba, Quezaltenango.
Colomba, Quezaltenango.
Colomba, Quezaltenango.
6a Avenida y 17a Calle, Guatemala City,
and San Antonio, Suchitepequez.
Pochuta, Chimaltenango, and Santa Barbara, Suchitepequez.
Senahu, Alta Verapaz.
Purulha, Baja Verapaz.
Villa de Guadalupe, Guatemala City, and
Baja Verapaz.
Purulha, Baja Verapaz.
Calle Real Ciudad Vieja No. 55, Guatemala City.
San Antonio Suchitepequez, Sucbitepequez.
San Rafael Pie de la Cuesta, San Marcos.
Nuevo Progreso, San Marcos.
All branches in Guatemala.
Gualan, Zacapa.
Pueblo Nuevo Venas, Santa Rosa, and
Oriente.
San Pedro Carcha, Alta Verapaz.
5a Avenida y 10a Calle, Guatemala City.
Acatenango and Yepocapa, Chimaltenango.

]4

ADDITIONS

GUATExMA LA—Continued.
Krause, Hans
. : : ; . ; ;
Kummerfeld, Hertzsch & Co. (Finca "Santa
Clara").
"La Duquesa" (Federico Wulff)
La Nacional
Lindener, Kurt (Lindener & Co.) (Finca
"Actela").
Liscutin, Antonio
. . . . . ; ; . . ; ; .
Liitjens, Ingrid Renate
;
Luttmann & Company (Guillermo Luttmann) (Fincas "Costa Rica", "El Rodeo",
"La Torre", "San Carlos", and "Santa
Anita").
Luz
Meissner, Hans Fritz
Moeschler, Heinrich (Enrique) (Dieseldorff
y Cia., Sues.; Fincas "Chimo" and "Guaxpom").
Moeschler, Oscar (Dieseldorff y Cia., Sues.;
Fincas "Chimo" and "Guaxpom").
Morjan, Conrado (Finca "Sabana Grande") .
Muenschmeyer, Roberto (Finca "Dolores") .
Neutze, Guillermo G
Noack, Otto (Finca "Chimote")
Ockelmann, Carl (Finca "San Francisco
Pecul").
Ockelmann, Celina de (Finca "San Dionisio").
Peitzner, Guillermo, hijo (Finca "San
Julian").
Pfister, W. (Finca "Actela")
Rausch, Enrique (Finca "El Parafso" y
Anexos).
Sauerbrey, Otto
Schilling, Alberto H
Schleehauf, F. (Fincas "Aquil", "La Florida"
and "Sacham").
Schwoercke, Reinaldo (Finca "Nueva Granada").
Steffens, Alfredo C. (Fincas "Las Mercedes"
and "Sola").




8a Avenida Sur No. 3, Guatemala City.
Chicacao, Suchitepequez.
Pasaje Rubio y 6a Avenida Sur No. 2,
Guatemala City.
5a Avenida Sur No. 100 C, Guatemala
City.
La Tinta, Alta Verapaz.
6a Avenida Sur No. 18, Guatemala City.
4a Avenida Sur No. 67, Guatemala City.
Pochuta, Chimaltenango; Tumbador and
Reforma, San Marcos.
11 Calle Oriente No. 24, Guatemala
City.
3a Avenida Sur No. 3, Guatemala City.
Coban, San Pedro Carcha, and Tucuru,
Alta Verapaz.
Coban, San Pedro Carcha, and Tucuru,
Alta Verapaz.
Siquinala, Escuintla.
Mazatenango, Suchitepequez.
9a Avenida Sur No. 2, Guatemala City.
Coban, Alta Verapaz.
San Felipe, Retalhuleu.
San Felipe, Retalhuleu.
Patalul, Suchitepequez.
La Tinta, Alta Verapaz.
Pochuta, Chimaltenango.
Mazatenango.
All branches in Guatemala.
Coban and Tucuru, Alta Verapaz.
Tumbador, San Marcos.
Colomba, Quezaltenango.

15

ADDITIONS

GUATEMA LA—Continued.
Sterkel, Emilio (Finca "La Esperanza"). . i
Sterkel, Julio (Rodolfo) (Finca "Pachilha") .
Suhr, Guillermo, Sues. (Finca "La Abundancia").
TeneriaMoIl
Thiemer, Waldemar (Finca "La Providencia").
Thiemer & Cia., Sues. (B. Zurhellen) . . . .
Thomae, Roberto (Fincas "Bremen", "Nueva
Aguas Pansael", "Pampa", and "San Rafael
Fanjul").
"Viena", Panaderia y Pasteleria (Wagner
Hermanos).
Wagner, E. R. (Finca "Las Amalias") . . .
Wagner, Reginaldo
Widmami, Carl, Sr. (Cia. de Plantaciones " Concepcion" de Guatemala).
Widmann, Walter (Cia. de Plantaciones "Concepci6n" de Guatemala).
Wohlers, Maximo (Fincas "Armenia", "Secoyocte", and "Chipemech").
Wulff, Federico ("La Duquesa")
Zepeda de Leon, Miguel
Zuckau (Suckau), Guillermo (Finca "El Rosario Bola").

Tucuru, Alta Verapaz.
Tucuru, Alta Verapaz.
Chicacao, Suchitepequez.
19a Calle Oriente final, Guatemala City.
San Cristobal, Alta Verapaz.
Livingston.
Tucuru, Alta Verapaz; Purulha and
Salama, Baja Verapaz.
5a Avenida Sur No. 20, Guatemala City.
Patalul, Suchitepequez.
9a Calle Poniente, No. 1-A, Guatemala
City.
8a Avenida Sur No. 47 y 13a Calle O.
No. 7, Guatemala Citjr.
8a Avenida Sur No. 47, Guatemala City.
Senahu and Cahabon, Alta Verapaz.
Pasaje Rubio y 6a Avenida Sur No. 2,
Guatemala City.
7a Calle O. No. 45, Guatemala City.
Colomba, Quezaltcnango.

HAITI
Loffredo, Maria C. (Mrs. Jean Schettini) . .Marra, Alphonse (A. Marra & Company) . .
Reinbold, Georges
Rohlsen, Gustave
Schettini, Mrs. Jean (Loffredo, Maria C.) . .
Vitiello, Antoine

Cap-Haitien.
Cap-Haitien.
Port-au-Prince.
Port-au-Prince.
Cap-Haitien.
Cap-Haitien.

MEXICO
Black Horse Tobacco Company : . . . . ;
Bopp, Juan Jose (Dr.)
Brunssen, S. A., Casa (Guillermo Brunssen) .
Cajiga Estrada, Hipolito (Dr.)
Canseco, Casa de Arturo
Coello, Jaime

Ave. Pino Suarez 314 Norte, Monterrey.
Uruguay 77, Mexico City.
Avenida Dr. Pasteur No. 13, Mexico City.
Mexico City.
LaPaz, B.C.
Ciudad del Carmen, Chiapas.




16

ADDITIONS

MEXICO—Continued.
Curiel Algranti, Manuel

; . ; ; : : . - . - :

Drogueria de la Palma (Beick, Felix & Cia.,
S. en C ) .
El Gallo (Roberto Hackmack) . . . . . . .
Farmacia Continental en Liquidacion (Paul
Waltz; G. Gerber).
Farmacia Juarez (Walter Schmiedehaus) . .
Farmacia y Drogueria Principal (Foto Principal; Dr. Otto Hitter).
Ferreteria La Palma (Guillermo Wolff) . . .
Foto Principal (Farmacia y Drogueria Principal; Dr. Otto Ritter).
Gerber, G. (Farmacia Continental en Liquidacio'n).
Grossman, Pablo
Gumler, Jorge (IMCO; Partes Aereas A. en P.).
Hermkes, Joseph ("Heromex")
"Heromex" (Joseph Hermkes and Ingeniero
Luis Rombold).
Heuer, Adolf (Compafiia Tecnica Comercial) .
IMCO (Jorge Gumler)
Importaciones Andrade, S. de R. L
Instituto Behring, S. A
Leon Export Company, S. de R. L. (Abraham
Z. Phillips).
Llorens, Antonio
Lozano, Jose (Tlapaleria "El Unfo") . . . .
Mendoza Becerril, Francisco
Noelke, Carlos
Partes Aereas A. en P. (Jorge Gumler) . . .
Petroleos Leon, S. A., Cia. (Abraham Z.
Phillips).
Philh'ps, Abraham Z. (Cia. Petroleos Leon,
S. A.; Leon Export Company, S. de R. L.).
Quimica Coyoacan, S. A
Reigada, Ramon
Ritter, Otto (Dr.) (Farmacia y Drogueria
Principal; Foto Principal).
Rombold, Ingeniero Luis ("Heromex") ; ; ;
Schmiedehaus, Walter (Farmacia Juarez). . .
Servicios Para Oficina, S. A
Tecnica Comercial, Compania 1 (Adolf Heuer).
Tintas Rex, S. A
. . . . . ;
1

This firm is to be distinguished from Tficnica y Mercantil, S. A.




Apartado 96, Calle General Trevmo Pte.
106, Monterrey.
Corregidora 7-A and Avenida Madero
28, Mexico City.
Avenida Hidalgo No. 50, Oaxaca.
Guadalajara.
.
Chihuahua.
Av. de Septiembre No. 3, Mexico City.
Guadalajara.
Av. 16 de Septiembre No. 3, Mexico
City.
Guadalajara.
Zuazua 10, Apartado 8702, Mexico City.
General Prim 57, Mexico City.
Mexico City.
Mexico City.
Revilligigedo No. 8, Mexico City.
General Prim 57, Mexico City.
Mexico City.
Tecoyotitla No. 364, Mexico City.
Mexico City.
Apartado 92 Manzanillo.
Juarez 210 Nte., Monterrey, N. L.
Calle Barcelona 26, Mexico City.
Mexico City.
General Prim 57, Mexico City.
Isabel la Catolica 33, Mexico City.
Isabel la Catolica 33, Mexico City.
Zaragoza 19, Mexico City.
Monterrey.
Av. 16 de Septiembre No. 3, Mexico City.
Mexico City.
Chihuahua.
Mexico City.
Revilligigedo No. 8, Mexico City.
Isabel la Catolica No. 750, Mexico City.

ADDITIONS

MEXICO—Continued.
Veraza y Cia., J. J . . : : : : ; • ; ; ; ; .
Waltz, Paul S. en C
NICARAGUA
Berewinkel, Kurt G e r h a r d . . . . ; . ; ; ;
Fischer, Klaus (Arthur) .
Grimm, Eugenio Jose (Victor S. Souza and
Company).
Perez Alonso, C M
Souza, Victor S. and Company (Eugenio Jose
Grimm).
Vogts, William
Wilms, Oscar
PERU
Adler, Richard : : . : ; ; : . ; ; ; : ; ;
Alvan, Humberto
Andress, Hans E. (La Quimica Bayer, S. A.) .
Balarezo Delta, Gliserio
Central American Trading Co
Cornejo, Guillermo R
Fabrica de Jabon Pacocha
Hernandez, Alejandro
Heydtmann (Heydmann), Adolf
Neugebauer, Wilhelm (Guillermo) (Emmel
Hnos., S. A.).
Singelmann & Cia
Thomsen, Fritz
Tidow, Juan (Juan Tidowy Cia., Ltda., S. A.).
SALVADOR
Annicchiarico, Jose1 . : . : . . . . . . . ; .
Annicchiarico, Victor
Annicchiarico y Cia
Annicchiarico & Sessa
Carozzi, Enea
;
Farmacia Salvadorefia (Dr. Jorge Santos) . .
Hentzen, Erhart
. . . . . . ;
Hepperle, Werner (Relojeria "El Tiempo") ;
Koch, Carlos




. . . . . ; ;

17

Articulo 123 No. 21, Mexico City.
Calle Buen Tono 18, Apartado Postal
1977, Mexico City.
Managua.
Managua.
Managua.
Managua.
Apartado 22, Managua.
Managua.
Managua.

Lima.
Casilla No. 1609, Lima.
Avenida Arequipa 3610, San Isidro, Lima,
and Avenida Brazil 198, Lima.
Calle Lartiga 459, Lima.
Edificio Wiese 504, Casilla 1582, Lima.
Lima.
Camana 341, and Cajamarca 664, Lima.
Avenida 2 de Mayo 455, San Isidro, Lima.
Lima.
c/o Emmel Hnos., S. A., Mercadores 410,
Arequipa.
Calle Arequipa 17-19, Casilla 46, Mollendo.
Union 636, Lima.
Malecon Reserva 121 Miraflores, Lima.

Jucuapa.
Jucuapa.
Jucuapa.
Jucuapa.
Apartado 540, San Salvador.
Final Calle Arce, San Salvador.
Edificio Sol, Avenida Espafia, San Salvador.
Edificio Sol, Avenida Espafia, San Salvador.
Apartado Postal No. 312, San Salvador.

18

ADDITIONS

SALVADOR—Continued.
Raubusch, Wilfred (Wilfrido)

; : : : : : ;

Relojeria "El Tiempo" (Werner Hepperle)

;

Santos,-Jorge (Dr.) (Farmacia Salvadoreiia) ;
Sessa, Gaetano
Sessa, Jose
Woerner, Hans F
URUGUAY
Camara de Comercio Alemana . . . . . : .
Camara de Comercio Italiana
Condor, Ltda., Sindicato (Sindicato Condor,
Ltda.).
Finsterwald, Carlos (Casa Suiza)
Guthmann, Arturo R
Merck, Agencia (Walter Nier)
Nier, Walter (Agencia Merck)
Schaich, Adolfo (Casa Suiza)
Sindicato Condor, Ltda. (Condor, Ltda., Sindicato).
Sommersguter, Leonardo
Suiza, Casa (Carlos Finsterwald & Adolfo
Schaich).
Teatro Artigas
VENEZUELA
Drogueria Nacional (Valentiner & Co.) . . ;
Fernandez, Luis Gmo
Garcia, Roger E
Gautier, Enrique
Gutierrez, Lindorfo
Institute Quimico Biologico, S. A. (Laboratorio Meyer, C. A.).
Laboratorio Meyer, C. A. (Instituto Quimico
Biologico, S. A.; Perfumeria Rococo, S. A.).
Martinez, Jose
Osorio Reyes, Gustavo
Perfumeria Rococo, S. A. (Laboratorio Meyer,
C. A.).
Valentiner & Co. (Drogueria Nacional) ; ; ;
Van Dissel, Rode & Cia. Sues. . . . . . . ;




Edificio Sol, Avenida Espafia, San Salvador.
Ediflcio Sol, Avenida Espafia, San Salvador.
Final Calle Arce, San Salvador.
Jucuapa.
Jucuapa.
San Salvador.
25 de Mayo 470, Montevideo.
Rinc6n 454, Montevideo.
All branches in Uruguay.
25 de Mayo 635/639, Montevideo.
Avenida Joaquin Suarez 3561, Montevideo.
Sal Canelones 1325, Montevideo.
Sal Canelones 1325, Montevideo.
25 de Mayo 635/639, Montevideo.
All branches in Uruguay.
Sal Galicia 1026, Montevideo.
25 de Mayo 635/639, Montevideo.
Colonia 860, Montevideo.
7 Camejo a Pajaritos, Caracas.
c/o Breuer, Moller & Co. Sucrs., Comercio 17, Maracaibo.
Maracaibo.
Norte 4 No. 28, Caracas.
Maracaibo.
Caracas.
Avenida Principal, San Agustin del Sur,
Caracas.
Maracaibo.
Maracaibo.
Caracas.
7 Camejo a Pajaritos, Caracas.
Calle Comercio, Maracaibo.

DELETIONS
ARGENTINA
Bussio, D. y Cia
; . ; ; ; :
Bussio, Oscar P
Finanzas & Mandates, S. A., Sociedad de . .
Furth, Julio (Papelas Astra, S. de R. L.—
Oficina Tecnica Ergon).
Gonzalez, R. H., & Co
Heinlein y Cia
La Exportadora Transatlantica, S. A
Martini & Rossi (Argentina) Soc. de Resp.
Ltda.
Nielhardt, Siegfried
Oficina Tecnica Ergon (Julio Furtli)
. . . .
Papeles Astra, S. de R. L. (Julio Furtli) . .
Rubio, Andres
Rubio, Enrique
Rubio, Hermanos
Skoda Platense S. A. Comercial e Industrial ;
Suarez, Mauricio
BOLIVIA
Cerveceria Boliviana Nacional, S. A. . . .- ;
BRAZIL
Bartilotti y Cia. ; . . . ; . . ; . . . . .
Eska, Ltda., Sociedad
Fiacao e Tecidos Guaratingueta S. A., Cia. .
Goncalves, B. y Cia., Ltda. .
Hendler y Cia., Walter
Marelli, Renato
Meyer & Cia




. . . ; ; : ; ; ; : ; ; :

Calle Defensa 119, Buenos Aires.
Calle Defensa 119, Buenos Aires.
Reconquista 356, Buenos Aires.
84 Peru, Buenos Aires.
Cangallo 439, Buenos Aires.
Caray 2428, Buenos Aires.
25 de Mayo 158, Buenos Aires.
Ave. It. S. Pena 1110, Buenos Aires.
Sarmiento 459, Buenos Aires.
Buenos Aires.
Buenos Aires, and all branches in Argentina.
Reconquista 46, Buenos Aires.
Reconquista 46, Buenos Aires.
Reconquista 46, Buenos Aires.
25 de Mayo 293, and Venez 110, Buenos
Aires.
Casilla de Correo 64, Buenos Aires.

La Paz.

Rua Santos Dumont 31, Bahia.
27 Rua Pedro Americo, Sao Paulo.
Rua Benjamin Constant 143, Sao Paulo,
and Guaratingueta.
Rua do Commercio 58, Santos.
Rua de Livramento 98 Recife, Pernambuco.
Rua Libero Badaro 443, Sao Paulo.
Rua Conselheiro Mafra 4, Florianopolis.
19

20

DELETIONS

CHILE
Fabrica Chilena de Sederias S. A. . ; . . .
Hammerschlag, Ernest .
Suda
COLOMBIA
Colombiana Comercial, Casa (Loewenthal
y Cia.)
Loewenthal, Margarita (Loewenthal y Cia.).
Loewenthal, Robert (Loewenthal y Cia.).
Loewenthal y Cia
COSTA RICA
Ortiino, Manuel

Ave. Libertad esquina 14 Norte, Vina del
Mar.
Constanza 1248, Santiago.
CaHe Treatinos 975, Santiago.
Bogota, and all branches in Colombia.

Barranquilla.

San Jose.

CUBA
Agencia Comercial Internacional de Rafart
Amargura 103, Habana.
y Cia,
Amram, Jose V
Muralla 474, Habana.
Eliakim, J. S. "La Balear"
Enna 612, Habana.
Eliakim y Amram ,
Edificio Prieto 300, Habana.
Fabrica Cubana de Tejidos, S. A
Muralla 474, Habana.
Gabor, Andres G
Geada Garcia, Jose Ramon
Hotel Florida, Habana.
Husek, Wm. P
"La Balear" (Eliakim, J. S.)
Laboratorios de Inmuno-Seroterapia, S. A . .
Apartado 25, Rancho Boyeros.
Loredo Cocina, Emilio
Amistad 415, Apartado 1034, Habana.
Marina, Sacramento
Menendez, Juan
Pinks & Loredo x
Amistad 415, Apartado 1034, Habana,
Rafart, Manuel
Rafart y Cia., Agencia Comercial Internacional
Internacional de 103, Amargura, Habana.
de.
Tamas, Francis
Zimmerman & Co. (Enrique [Heinrich] ZimCalle A No. 13, Apartado 874, Vedado,
merman; 2 Otto Zimmerman).
Habana.
1
In relation to Anton and Gerhard Pinks, the individuals, see "Additions".
2
In relation to Enrique (Heinrich) Zimmerman, the individual, see "Additions".
MEXICO
Excelsior, Compania S. de R. L. ; ; . : ; ; :
Morros, Abel
Schoener, Hugo (Agencia Comercial
Anahuac).




Calle Durango 117, Mexico City.
Rosales 5, Mexico City.
Apartado 2303, Mexico City.

DELETIONS

21

NICARAGUA
Nicaragua, S. A., Agencias. : : ; . ; . ; .

Managua.

URUGUAY
Mojana, Casa Martin (Turcatti & Belatti). ;
Morales, Jose Garcia
Serra Hermanos
Standard Cartonex Ltda
Turcatti & Belatti (Casa Martin Mojana) . .

Eicon 633, Montevideo, R. O. U.
Uruguay 1379, Montevideo.
Uruguay 755, Montevideo.
Venezuela 1278, Casilla 545, Montevideo.
Eicon 633, Montevideo, E. O. U.




AMENDMENTS
ARGENTINA
For El Pampero, Piedras 338, Buenos Aires,
substitute

El Pampero (Enrique Oses)
BOLIVIA
For Samso, Francisco Forns, Calle Potosi,
La Paz, substitute
Samso, Francisco Forns (Imprenta y Libreria "La Escolar").

Piedras 338, Buenos Aires.

P. O. 476, Potosi 490, La Paz.

BRAZIL
In relation to Vianna, Braga y Cia., for Rua
Conselheiro Dantas 35, Salvador, Bahia,
substitute

Rua Conselbeiro Dantas 35, Salvador,
Bahia and Joazeiro, Bahia.

CHILE
For Engel y Cia., Santo Domingo 808, Casilla
1481, Santiago, substitute
Engel y Cia. (Alberto Engel)

Santo Domingo 1025, Santiago.

COLOMBIA
For Schmidt, Walter, Cali, substitute
Schmidt, Walter (Optica Alemana) . . . .

Calle 12, Carrera 5a y 6a, Cali

COSTA RICA
For Sanabria, Hermann, Apartado 928, San
Jose, substitute

Sanabria, Hernan
DOMINICAN REPUBLIC
For Perez & Co. (Brigido Fernandez Porez),
Edificio Copello, Apartado 404, Ciudad
Trujillo, substitute
Perez & Co. (Brigido Fernando Perez) . .
ECUADOR
For Kruger, J. H., Guayaquil, substitute
Kruger, Viuda y Herrederos de J. H. . . .
22




Apartado 928, San Jose.

Edificio Copello, Apartado 404, Ciudad
Trujillo.
Guayaquil.

AMENDMENTS

GUATEMALA
For "Cecilia" Ltda., Cia. Administradora,
Quezaltenango and Guatemala City, substitute
"Cecilia" Ltda., Cia. Administradora (Fincas "Cecilia" y Anexos, and "Castafios").
lor Central American Plantations Corporation, 3a Avenida Sur No. 3, Guatemala
City, substitute
Central American Plantations Corporation
("Concepcion-Candelaria", "El Pensamiento-Palmira", "El Porvenir","MoreliaSanta Sofia", "San Andres Osuna", "San
Francisco Miramar", and "San Luis";
Haciendas "Chocola" and "El Reposo";
Ingenio Palo Gordo).
For Dieseldorff y Cia., Sues., substitute
Dieseldorffy Cia., Sues., (Heinrieh [Enrique]
Moeschler; Oscar Moeschler).
For Hegel, Carlos, 5a Avenida Sur No. 24-A,
Guatemala City, substitute
Hegel, Carlos (Fincas "Pena Plata" and
"San Augustin").
For Laeisz y Cia. (Sucrs. Conrado Francke &
Co.), Quezaltenango and all branches in
Guatemala, substitute
Laeisz y Cia., Sues. (Conrado Francke y
Cia.)'(Finca "San Basilio").
For Lindener & Co. (Gerlach & Co., Sucrs.)
c/o Gerlach & Co., Sucrs., 5a Avenida Sur
No. 4, Guatemala City, substitute
Lindener & Co. (Gerlach & Co., Sucrs.; Kurt
Lindener; Fincas "Las Camelias", "Santa
Actela", "Santiago", and "Serilquiche").
For Nottebohm & Co., Kurt, Calle Poniente
II, y Ave. 5, Guatemala City, substitute
Nottebohm & Co., Kurt (Fincas "Argentina", "Bola de Oro", "El Perti", "El
Potosi", "Florida", "Las Carolinas",
"Las Sabanetas", "Los Brillantes", "Los
Castafios", "Medio Dia", "Medio Dia y
Filipinas", "Palmira", "San Rafael
Panan", and "Santa Elena").




23

Quezaltenango, and all branches in Guatemala.

3a Avenida Sur No. 3, Guatemala City,
and all branches in Guatemala.

5a Avenida Sur No. 24-A, Guatemala
City, and all branches in Guatemala.

Quezaltenango, and all branches in Guatemala.

c/o Gerlach & Co., Sucrs., 5a Avenida Sur
No. 4, Guatemala City, and all branches
in Guatemala.
Calle Poniente II, y Ave. 5, Guatemala
City, and all branches in Guatemala.

24

AMENDMENTS

GUATEMALA—Continued.
For Plantaciones, Compania de ("Concepcion"
de Guatemala), Guatemala City, substitute
Plantaciones "Concepcion" de Guatemala,
Compania de (Carl Widxnann, Sr.; Walter
Widmann).
For Quirin, M. y M., Tucuru, Alta Verapaz,
substitute
Quirin, Matilde de and Maximo (Fincas
"Coyocte", and "Esmeralda" and "El
Salto").
For Rehbach, Teodoro, San Rafael Pie de la
Cuesta, San Marcos, substitute
Rehbach, Teodoro (Fincas "Alsacia", "Armenia" y Anexos).
For Sapper & Co., Ltda., Coban, Alta Verapaz,
substitute
Sapper & Co., Ltda. (Fincas "Campur",
"Chiacan", "Chilte", "Chimax", "Chinama", "Chulac", "Coyocan", "Pantic",
and "San Javier").
For Sauerbrey & Co., Sues., Carlos (La Estrella), 8a Avenida Sur No. 8, Guatemala City, substitute
Sauerbrey & Co., Carlos (Herederos de Carlos
Sauerbrey; La Estrella; Finca "Cafetal
Hamburgo").
For Agricola, Vinas Zapote, Sociedad, 13a
Calle O., No. 7, Guatemala City, substitute
Vinas Zapote, Sociedad Agricola (Fincas
"Cerro Redondo", "Las Vinas", and
"Salitrillo").
MEXICO
For Beick, Felix y Cia., S. en C. substitute
Beick, Felix y Cia., S. en C. (Drogueria de
la Palma).
For Hackmack, Roberto, Avenida Hidalgo
No. 50, Oaxaca, substitute
Hackmack, Roberto (El Gallo)
For La Masellesa (de Castelli), substitute
La Marsellesa (de Castelli)
I n r e l a t i o n to O m e g a a d d the a d d r e s s




. . . .

8a Avenida Sur, No. 47, Guatemala City.

Coban and Tucuru, Alta Verapaz.

San Rafael Pie de la Cuesta, San Marcos.

Cobau, Alta Verapaz, and all branches in
Guatemala.

8a Avenida Sur No. 8, Guatemala City,
and all branches in Guatemala.

13a Calle O., No. 7, Guatemala City,
and all branches in Guatemala.

Ave.

F. I. Madero 39, Mexico City and
Monterrey.

Avenida Hidalgo No. 50, Oaxaca.
Mexico City.
Jardin de San Fernando 5, Mexico City.

AMENDMENTS

25

MEXICO—Continued.
For Wolff, Guillermo (Almex, S. de R.L.), Ave.
Uruguay 51, Apartado 1381, Mexico City,
substitute
Wolff, Guillermo (Almex, S. de R.L.; Ferreteria La Palma).

Ave. Uruguay 51, Apartado 1381, Mexico City, and Guadalajara.

URUGUAY
For Miglaro, Sal to, substitute
Migliaro Orestes, Salto . . ; : ; ; ; ; ;
For Somba, Ltda., Montevideo, substitute
Somba, Ltda., (Leonardo Sommersguter). ;

Montevideo.




o

Freezing Control as a Weapon of Economic Defense
by
EDWARD H. FOLEY, Jr.
General Counsel for the Treasury Department

Address delivered before the Committee on Insurance Law
AMERICAN BAR ASSOCIATION—SIXTY-FOURTH ANNUAL MEETING

Lincoln Hotel, Indianapolis, Indiana
September 29, 1941

I

NCREASING public attention is being focused on
problems of economic defense as a part of the total
program of our national defense effort. Although less
dramatic and stirring than military action, a sound
and far-reaching policy in the economic and financial
area will play a vital role in the weakening and ultimate defeat of the aggressor nations.

It may take us many months to whip into shape
an effective army and to increase our production of
war materials enough to become the real arsenal of
democracy. On the economic defense front, however,
there need be no period of preparation preliminary to
major action. We are prepared now. We are equipped
today with the most powerful economic weapons in
the world.
Foreign funds control, or freezing control as it is
more popularly called, is one of the most important
instruments which this country can employ in its
economic defense. This control in effect subjects to
regulation and scrutiny all transactions in which
blocked countries or their nationals have any type of
interest. The control also has those elements of speed
and flexibility that make possible the immediate execution of economic programs in the furtherance of this
Government's foreign policy.

mark. On that day the President, by Executive Order,1
prohibited transactions involving Norwegian and Danish property except as authorized by the Secretary
of the Treasury. Thereafter, as other countries were
invaded or subjected to the domination of aggressor
powers, freezing control was made applicable to them.
On June 14, 1941, a most important extension of
freezing control took place. The remaining countries
of continental Europe including Germany and Italy
were brought under the control. This step changed
the emphasis of freezing control from a defensive
weapon primarily intended to protect the property of
invaded countries, to a frankly aggressive weapon
against the Axis.
On July 26, 1941, when Japan over-ran IndoChina, the control was invoked against Japan. The
public is becoming increasingly aware that the impact
of freezing control on Japan has proved to be the most
powerful and decisive action which this country has

i Executive Order No. 8389 of April 10, 1940, as amended,
and the freezing control regulations, as amended, as well as
The Proclaimed List Proclamation, together with General Rulings, General Licenses, and Public Circulars issued in the
administration of freezing control are published in a pamphlet
issued by the Treasury Department entitled "Documents Pertaining to Foreign Funds Control", which pamphlet may be
obtained from any Federal Reserve Bank or from the Treasury
History
Department in Washington. All public documents are not only
filed with the Federal Register, but are distributed through the
Freezing control was first instituted a year and a Treasury Department and the Federal Reserve Banks to all
half ago when the Germans invaded Norway and Den- persons and institutions desiring copies.




as yet taken to curb Japanese aggression. At the same
time, freezing control was extended to China at the
specific request of Generalissimo Chiang Kai-shek in
order to assist China in the control of its economy and
in order to prevent Japan from using the occupied
areas in China as a loop-hole for evading our freezing
control.
On July 17, 1941, a step of a somewhat different
order was taken. The President authorized the issuance of The Proclaimed List of Certain Blocked Nationals. This List, better known as the black list,
contains the names of about two thousand persons and
firms in the American republics whose activities this
Government believes are unfriendly to the interests
of the United States and hemispheric defense. From
time to time names have been added to and deleted
from the list. The black list has the effect of extending
the freezing control to the listed persons and firms
and treating them for all purposes as though they
were nationals of Germany or Italy.

Legal Aspects
The freezing control order is based on a section of
the 1917 Trading with the Enemy Act.2 This section
has been held constitutional by the Supreme Court of
the United States.3 Apart from the statutory provisions, the President possesses powers conferred upon
him directly by the Constitution. Some aspects of these
Presidential powers, including his power to control
foreign relations, I expect to discuss tomorrow before
the Municipal Law Section.

of the interrelationships which have long existed between certain persons and concerns in this country and
foreign interests and in view of the changing nature of
the economic problems to be met from time to time, it is
indeed fortunate that the authority vested in the
President is sufficiently broad to permit him to apply
the freezing control as the situation currently requires.

Purposes
The application of freezing control to an increasingly larger area of the world has greatly increased
the effectiveness of the control.
When the control was first invoked it was regarded
as a means of insuring that the Danish and Norwegianowned property in this country would not fall into the
hands of Germany. The Government also regarded
itself as owing a responsibility to those persons who
placed their assets here out of confidence in our
strength and fairness. Freezing control also minimized
the liabilities of American banks and others against
the assertion of conflicting claims to property arising
out of invasion and other revolutionary changes in the
over-run countries of Europe.

Not only was it necessary to protect property in
this country belonging to the invaded areas; it was
also necessary to prevent the Axis powers from realizing the full benefits of large amounts of securities and
other assets which they had looted in the invaded
countries. To this end controls were established over
the importation into the United States of securities,
diamonds, paintings, and other valuable assets which
had fallen into Axis hands.
1 want to point out that the legality of freezing
control has not been challenged in any court or, for
Had we not imposed freezing control, we would
that matter, by anyone appearing before the Departnot only have failed in our responsibilities to owners
ment. I believe that this is due not merely to the
comprehensiveness of the underlying authority, but of seven billion dollars of funds in this country, but
to the widespread sympathetic understanding by the we would have permitted the Axis countries to have
public of the purposes and aims of freezing control and used these billions of dollars to their own very considerable advantage. With such funds the Axis could
the methods employed in its administration.
have drawn on our resources and the resources of the
The freezing control order does not exhaust the Western Hemisphere to maintain their war effort, to
powers vested in the President by the statute. In view strengthen their economic and financial position, and
to acquire those vital and strategic materials both here
2
Sec. 5(b) of the Trading with the Enemy Act of October and abroad which are urgently needed by our country
6, 1917, as amended; 40 Stat. 415, 966; 48 Stat. 1; 54 Stat. 179; and other friendly countries.
U. S. C. title 12, sec. 95a.

3 Norman v. B. & O. R. Co., (1935) 294 U. S. 240; Nortz
v. United States, (1935) 294 U. S. 317; Perry v. United States,
(1935) 294 U. S. 330; Campbell v. United States, (D. C. S. D.
N. Y., 1936) 5 F. Supp. 156, 167-170, 172-174; Uebersee FinanzKorporation, A. G. v. Rosen, (C. C. A. 2, 1936) 83 F. (2d)
225, 228, certiorari denied, 298 U. S. 679; British-American
Tobacco Co. v. Federal Reserve Bank (C. C. A. 2, 1939) 104 F.
(2d) 652, 105 F. (2d) 935, certiorari denied, 308 U. S. 600.




Loss of these dollar assets and the inability of the
Axis to acquire other dollar assets have greatly impaired the ability of the Axis powers to finance propaganda, sabotage, and other subversive activities in
the United States and in other areas of strategic
importance to this country.

Freezing control has prevented the Axis countries
Paralleling the lease-lend aid which we are extendand their satellites from using the American dollar, ing to those countries whose defense is vital to the
and American banking and financial facilities, for defense of the United States, our Government, through
commercial and other activities in the United States the medium of freezing control, is taking effective
and other parts of the world. The American dollar action in the economic field to bolster the allied
today is the strongest medium of international ex- economic and financial blockade and to eliminate many
change. It is the most sought after medium in the of the leaks which have existed in that blockade. Moreworld for payment for goods and services. The sub- over, our strong action has very substantially encourjection to licensing of all dollar transactions in which aged many Latin American countries to take measures
the Axis countries are directly or indirectly interested along comparable lines, thus seriously curbing not only
has effectively curtailed Axis use throughout the world the financial and economic activities of the Axis, but
of our dollar as a medium of payment.
also their propaganda and subversive activities in, an
area in which this nation has a fundamental concern.
In considering the effectiveness of freezing control,
do not be misled by the fact that the aggressor nations
Freezing control has been employed to deal with
have sought to retaliate against American-owned prop- those neutral European countries which, by reason of
erty abroad. American-owned property in the Axis their proximity to the Axis powers, have been frecountries, as well as in other European countries, in quently compelled against their will to serve as
most cases was largely given up as lost before freezing "fronts" for operations in the economic and financial
control was instituted. Germany, through a gradual field. By the extension of freezing control to such
system of confiscation and control, left American own- neutral countries, it has been possible both to permit
ers of property with little more than a shell of title, the neutral countries to engage in legitimate transseizing for German purposes the operating use of the actions for their own need and to reduce the possibility
American-owned property abroad. Moreover, Germany of such countries acting as a screen for the Axis
by seizing American-owned assets abroad can not com- powers behind which Axis activities may be continued.
pensate itself for the dollars which Germany hoped to The general licenses that were issued to such neutral
acquire as a fruit of her conquest. These American- countries are conditioned on the effective carrying out
owned assets in Europe will not help Germany buy of the guaranty of the neutral governments that they
goods and services throughout the world as Germany will not be used as a disguise for Axis or other unwould have been able to do had we allowed her to desired transactions.
acquire title to any substantial part of the $7 billion
of European-owned assets in this country.
It is well known that there are certain business
institutions in this country which are owned or
Freezing control has not been confined to the dominated by the Axis and whose activities are conregulation of banking and financial transactions. It trary to American interests. Through the medium of
also is an instrument for controlling all imports and foreign funds control, the Government can take and
exports between the United States and the blocked is taking appropriate steps to nullify or eliminate such
countries.
vicious and undesirable influences and to assure the
The most striking and effective application of freez- devotion of all American enterprises to the promotion
ing control occurred in its extension to Japan. The of national interests.
application of the controls effectively stopped all trade
Espionage, sabotage, and propaganda are specwith Japan. Freezing control was the instrument
tacular forms of Axis subversive activities. Less
employed by the British, Dutch, and ourselves in
spectacular, but probably more dangerous and pernitaking parallel action against Japanese aggression. As
cious in its effect, is that form of subversive activity
a result of this coordinated and concentrated action,
addressed to limiting and curtailing the American
the economy of Japan has suffered a profound shock.
productive capacity. Through the medium of patent
We have also eliminated import and export trade pooling arrangements, licensing agreements and simbetween this country and black-listed persons in Latin ilar contracts, Germany has been able to put a drag
America. This action which our Government has al- on our national defense production. Through the same
ready taken, as well as the action it is currently medium Germany has been able to secure information
initiating, will contribute greatly to the elimination which would ordinarily be deemed military secrets.
of the black-listed persons from such influence and Germany and German interests have also sought to
activities as are hostile to the United States and hemis- restrict American firms from competing with Axis
firms in neutral markets. Needless to say such business
pheric defense.




relationships must be dealt with in a manner which
will not destroy legitimate American interests. Action
will continue to be taken to solve this problem.
The freezing order and regulations provide ample
facilities for requiring reports and making investigations to assure the effective functioning of the program. We are now engaged in taking a complete and
comprehensive census of every conceivable type of
foreign-owned property within the United States, irrespective of whether the owner of such property has
been blocked under the freezing order. This census
requires precise data as to the identity of the foreign
interests and the nature and location of the property.
We anticipate that the census will be an invaluable
aid in effectively carrying out the many aspects of the
program which I have discussed and in assuring the
complete protection of American interests as well as of
friendly foreign interests.
One aspect of freezing control that I should not
omit is its usefulness as a mechanism through which
we may provide assistance to friendly countries in their
own regulation of finance and trade. As I indicated,
freezing control was applied to China at the specific
request of Generalissimo Chiang Kai-shek. This action
by our Government in conjunction with the British
and Dutch is immeasurably strengthening China's
ability to acquire and retain much needed foreign exchange and to control China's foreign trade. Our
coordination of freezing control with exchange and
trade regulation by China reduces evasions of the
Chinese control and strengthens China's authority
over trade and finance in occupied China and in the
international settlements where China would otherwise be largely impotent.
Foreign funds control is so flexible and dynamic
an instrument of economic defense that we may reasonably assume its growing usefulness as new situations
arise. We may likewise reasonably assume that freezing control will be a most useful instrument in dealing
with several of the inevitable post-war economic and
financial problems.

Operation
In view of the wide range of functions dealt with
by freezing control, it is not surprising that the ad-




ministration of freezing control presents difficulties.
The Treasury has constantly sought and adopted
methods for simplifying the licensing procedure and
the issuance of rulings and other information on
questions of public interest.
Policy questions arising under freezing control are
considered by an interdepartmental committee consisting of representatives of State, Treasury, and Justice
Departments. Liaison is maintained with the recently
created Economic Defense Board on which the State,
Treasury, and Justice Departments are represented.
Activities of freezing control are also coordinated with
the functions of other departments and agencies of
the Government.
The Treasury has sought to give applicants and
their counsel full opportunity to present their ease to
the Department, both orally and in writing, and to
insure the disposition of applications on the basis of
equality and denned principles of policy. We have
always been prepared to reconsider any denial of an
application. In many instances, the Department has
granted a previously denied license, upon presentation
of additional information or upon further consideration of the case.
It is the desire of the Department to do everything
possible to facilitate public understanding of freezing
control problems. The Treasury and the Federal
Keserve Banks are always available to discuss problems
that may arise.
The legal profession can and should play an important role in the administration of freezing control
and the Department would welcome suggestions from
lawyers and all other groups as to how we can do a
better job. You can help the Department by telling
us what loopholes we are missing and how we can
deal with them, as well as by telling us the areas in
which we are unnecessarily strict.
All Americans are anxious to play an active part in
this country's defense program. Lawyers, bankers,
brokers, and other business and professional groups
can make a real contribution to national defense by
assisting and cooperating with the Government in the
administration of freezing control.

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