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FEDERAL. RESERVE BANK OF DALLAS Dallas, Texas, May 11, 1940 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: The Secretary o f the Treasury has issued the following general license: GENERAL LICENSE NO. 4 UNDER EXECUTIVE ORDER NO. 8889 of April 10, 1940, as amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.* “ A general license is hereby granted authorizing the bona tide purchase and sale of securities by banking institutions within the United States, for the account of nationals of Norway, Denmark, The Netherlands, Belgium, or Luxembourg, within the meaning o f the Executive Order of April 10, 1940, as amended, and the Regulations issued thereunder, pursuant to the instructions o f such nationals, and the making and receipt o f payment for and the transfer o f such securities, provided th a t: (a) in the case o f the purchase o f securities the securities purchased are held in an account in a banking institution within the United States in the name of the national of Norway, Denmark, The Neth erlands, Belgium, or Luxembourg, whose account was debited to purchase such securities, and (b) in the case o f the sale of securities the proceeds of the sale are credited to an account in a banking institution within the United States in the name of the national of Norway, Denmark, The Neth erlands, Belgium, or Luxembourg, for whose account the sale was made. Each banking institution making such a purchase or sale is required to file promptly with the appropriate Federal Reserve bank weekly reports, showing the details of the transactions, including a description of the securities purchased or sold, of the person for whose account the purchase or sale was made, and the price at which the purchase or sale was made. HERBERT E. GASTON Acting Secretary of the Treasury” May 10, 1940 *Part 134— Sec. 5 (b ), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution No. 69, 76th C ongress; 12 U.S.C. 95a; E x . O rder 6560, Jan. 15, 1934; E x. Order 8389, A p ril 10, 1940; E x. Order 8405, M ay 10, 1940; R egulations, A pril 10, 1940, as amended M ay 10, 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)
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