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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal A g e n t of the U n i t e d States

r
Circular N o . 2 6 1 8 , April 26, 1943
L Reference to Circulars Nos. 2612 and 2615.

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

For your information we quote below from a telegram received from the Treasury
Department:
T h e f o l l o w i n g is text of P u b l i c Interpretation N o .

13:
TREASURY DEPARTMENT
F o r e i g n F u n d s Control
A p r i l 26, 1943

PUBLIC I N T E R P R E T A T I O N NO. 13
U N D E R E X E C U T I V E O R D E R NO. 8389, AS A M E N D E D , E X E C U T I V E O R D E R NO. 9193,
SECTIONS 3(a) A N D 5(b) OF T H E T R A D I N G W I T H T H E E N E M Y ACT, AS A M E N D E D
BY T H E FIRST W A R P O W E R S ACT, 1941. R E L A T I N G T O F O R E I G N FUNDS C O N T R O L .

I n q u i r y has been m a d e as to w h e t h e r a license f r o m the T r e a s u r y D e p a r t m e n t is
required to v o t e , or to solicit proxies or other authorizations w i t h respect to the v o t i n g
of, securities issued b y a c o r p o r a t i o n o r g a n i z e d under the laws of the U n i t e d States or of
a n y state, territory or district thereof, if a b l o c k e d c o u n t r y or a national thereof has
a n y interest in such securities.
T h e T r e a s u r y D e p a r t m e n t is not presently requiring a license to v o t e such securities
o r to solicit p r o x i e s or other authorizations w i t h respect to the v o t i n g thereof. H o w e v e r ,
if such transactions i n v o l v e trade or c o m m u n i c a t i o n with an e n e m y national, a license
e x p r e s s l y referring to General R u l i n g N o . 11 is required.
J. W .

PEHLE,

Assistant to the Secretary.

Additional copies of this circular will be furnished upon request.




ALLAN

SPROUL,

President.

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