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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, September 4,1941 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: The Secretary of the Treasury has issued the following amendment to General License No. 55: “ GENERAL LICENSE NO. 55, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389, of April 10, 1940, as amended, and Regulations issued pursuant there to, relating to transactions in foreign exchange, etc.* General License No. 55 is amended to read as follows: (1) A general license is hereby granted authorizing any banking insti tution within the United States to make payments from blocked accounts of China or Japan, or any national thereof, of documentary drafts drawn under revocable or irrevocable letters of credit issued or advised by a domestic bank prior to July 26, 1941, provided: (a) That such letters of credit were not issued in favor of Japan or China or any national thereof; or (b) That such drafts have not, since July 26, 1941, been held by or for the account of any blocked country or national thereof. (2) Banking institutions making any payment or debit authorized by this general license shall file promptly with the appropriate Federal Reserve Bank weekly reports showing the details of such transactions. (3) This license shall expire at the close of business on September 30, 1941. E. H. FOLEY, JR. Acting Secretary of the Treasury ” *Part 131— Sec. 5(b), 40 Stat. 415 and 986; Sec. 2, 48 Stat. 1; 54 Stat. 179; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14,1941, and Ex. Order 8832, July 26,1941; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 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)