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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, August 10, 1940 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: The Secretary of the Treasury has issued the following general license (Code o f Federal Regulations, Title 31, Money and Finance, Treasury, Chapter 1, Monetary Offices, Part 158): GENERAL LICENSE NO. 28 UNDER EXECUTIVE ORDER NO. 8389 o f April 10, 1940, as amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.* “ A general license is hereby granted authorizing any individual who is a citizen of the United States and residing therein and who is a ‘national’ of any o f the foreign countries designated in Execu tive Order No. 8389, as amended, within the meaning o f such Executive Order, as amended, to engage in any transaction which would not be prohibited under the provisions o f such Executive Order, as amended, if such resident citizen were not a ‘national’ o f any o f the foreign countries designated in such Executive Order, as amended. All banking institutions within the United States are hereby authorized to engage in any transaction involving property in which such resident citizen has an interest, to the same extent, and under the same circumstances, as if such resident citizen were not a ‘national’ o f one o f the foreign countries designated in such Executive Order, as amended. “ This general license shall not be deemed to affect securities or evidences thereof delivered, or required to be delivered, to a Fed eral Reserve bank under the provisions o f General Ruling No. 5, as supplemented, or to authorize payments, transfers, or withdrawals from accounts referred to in Paragraph (4) o f General Ruling No. 6. D. W. BELL Acting Secretary o f the Treasury” August 8, 1940 *P a r t 158— Sec. 5 ( b ) , 40 S tat. 415 and 9 6 6 ; Sec. 2, 4 8 S ta t. 1 ; Public R esolution N o . 69, 76th C o n g re ss; 12 U .S .C . 9 5 a ; E x . Order 6560, Jan. 15, 1 9 3 4 ; E x . O rder 8 38 9 , A p r il 10, 1 9 4 0 ; E x . O rder 8405, M a y 1 0, 1 9 4 0 ; E x . O rder 8 4 4 6 , June 17, 1 9 4 0 ; E x . O rder 8484, J u ly 15, 1 9 4 0 ; E x . O rder 849 3 , J u ly 25, 1 9 4 0 ; R e gu lation s, A p r il 10, 1 94 0 , as am ended M a y 10, 1940, June 17, 1940, and J u ly 15, 1940. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)