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FEDERAL RESERVE BANK
O F NEW YORK
Fiscal Agent of the United States

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Circular No. 2 6 5 4 , . July 22, 1943
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L Reference to Circulars Nos. 2647 and 2653. J

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

For your information we quote below the text of Amendment of Special Regulation No. 1,
dated July 14, 1943, and the text of an announcement released by the Treasury Department for
publication on July 14, 1943, regarding the extension of time for filing reports of Americanowned property in foreign countries on Form TFR-500 to November 1, 1943:
CODE OF F E D E R A L R E G U L A T I O N S
Title 31 Money and Finance: Treasury
Chapter I—Monetary Offices, Department of the Treasury
Part 137—Special Regulations under Executive Order No. 8389,
as amended, and Executive Order No. 9193.
Sub-part A.
AMENDMENT

TREASURY DEPARTMENT
Foreign Funds Control
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O F S P E C I A L R E G U L A T I O N NO. 1 (*)

Section 137.4 of Special Regulation No. 1 is amended to read as follows:
Section 137.4

Filing.

(a) Reports by persons within the United States shall be filed on or before
November 1, 1943, with the Federal Reserve Bank of the district or with the Governor
of the territory or possession of the United States in which the person filing the
report resides or has a principal place of business or principal office or agency or, if
such person has no legal residence or principal place of business or principal office
or agency in a Federal Reserve District or a territory or possession of the United
States, then with the Federal Reserve Bank of New York or the Federal Reserve
Bank of San Francisco.
( b ) Reports by persons outside the United States who are subject to the jurisdiction of the United States shall be filed on or before November 1, 1943, with the
United States Consul of the district wherein such person is then present.
( c ) A report received by the proper Federal Reserve Bank, Governor, or Consul,
in a correctly addressed and stamped envelope bearing a postmark of a time prior to
midnight of the date upon which the report is due, shall be deemed to have been
duly filed.
RANDOLPH

PAUL

Acting Secretary of the Treasury
* Part 137:—Sec. 3(a), 40 Stat. 412; Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179;
Public No. 354, 77th Congress, 55 Stat. 838; Sec. 3, Public No. 831, 77th Congress; Ex. Order 8389, April
10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963,
December 9, 1941, and Ex. Order 8998, December 26, 1941; Ex. Order 9193, July 6, 1942; Regulations,
April 10, 1940, as amended June 14, 1941 and July 26, 1941.




(OVFR)

FOR IMMEDIATE RELEASE,
July 14, 1943

Press Service
No. 37-54

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The Treasury Department announced today that the time for filing reports of Americanowned property in foreign countries on Form TFR-500 has been extended to November 1,
1943. Previously, reports by persons in the United States were required to be submitted
by August 31, 1943.
A careful survey of the work so far accomplished and of the reports filed since June 3,
1943, when the census was announced, and discussions with various groups of persons
required to report and with the Federal Reserve Banks, which are distributing the forms,
has indicated that many persons will not be able to complete their reports by August 31,
1943, without undue hardship.
While the Treasury Department is anxious to secure the vital information which the
reports will supply, it recognizes the growing shortage of manpower in various industries
and the difficulties of obtaining proper clerical assistance at this time. It has also been
pointed out by certain companies having extensive foreign holdings that the long period
of time required for transmittal of mail to and from foreign areas might in some instances
prevent these companies from furnishing as complete and accurate information as could
be accomplished if a somewhat longer time were granted. In view of these considerations, it seemed preferable to give a general extension of time to all persons affected
rather than to require applications for extensions. It is believed that an announcement
of the extension at this time will enable those required to report to plan their work on
the census in such a way as to make most efficient use of their available facilities.
It will be of definite assistance to the Treasury, however, if those persons having their
data available and now in the process of compiling their reports file them as soon as they
are completed in order that the Treasury may proceed on classification and analysis.
The final filing date of November 1, 1943, will apply to persons abroad who are subject
to the jurisdiction of the United States as well as to persons within the United States.

Additional copies of this circular will be furnished upon request.




A L L A N SPROUL,

President.

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