Full text of District Notices (Federal Reserve Bank of Dallas) : [General Ruling No. 2 Under Executive Order #8389]

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FEDERAL RESERVE BANK
OF DALLAS

Dallas, Texas, April 20,1940

To All Banking Institutions, and Others Concerned,
in the Eleventh Federal Reserve District:

The Treasury has today issued the following general ruling:
GENERAL RULING NO. 2 UNDER EXECUTIVE ORDER NO. 8389 of April 10,
1940, and Regulations issued pursuant thereto, relating to transactions in foreign
exchange, etc.
“ Inquiry has been made as to whether the following are prohibited by the Executive
Order and the Regulations issued thereunder, except under license:
(a) The transfer by a banking institution within the United States of
stock certificates from or into the names of ‘nationals’ o f Norway or Den­
mark ; and
(b) The delivery out o f custody accounts or the receipt in custody
accounts, by a banking institution within the United States, of securities
held or to be held in custody for ‘nationals’ o f Norway or Denmark.
“ The Treasury Department construes the Executive Order and Regulations as pro­
hibiting such transactions, except under license.
H. Morgenthau, Jr.
Dated April 19, 1940

Secretary of the Treasury”

Yours very truly,
R. R. GILBERT,
President

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