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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, October 24,1941 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. 72: “ GENERAL LICENSE NO. 72, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8889 of April 10, 1940, as amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.* Paragraph (2) of General License No. 72 is hereby amended in the follow ing respects: (a) The following sentences are deleted: ‘Domestic banks are authorized to effect the payments referred to in (c) and to establish and maintain free dollar accounts if necessary, and only to the extent necessary, to effect such pay ments. Domestic banks are not authorized to establish or main tain free dollar accounts in cases where such payments may be effected in the manner prescribed in (a) or (b) of General License No. 32, as amended.’ (b) The following sentence is substituted for the sentences deleted by paragraph (a) of this amendment: ‘Domestic banks shall effect the payments referred to in (c) pur suant to the terms and conditions of paragraph (2) of General License No. 33.’ E. H. FOLEY, JR. Acting Secretary, of the Treasury” October 23, 1941 *Part 131— Sec. 5(b), 40 Stat. 415 and 966; 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)
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