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FEDERAL RESERVE BANK
OF DALLAS

Dallas, Texas, December 10, 1941

To All Banking Institutions, and Others Concerned,
In the Eleventh Federal Reserve District:
The Secretary of the Treasury has issued the following press statement:
“ Secretary Morgenthau announced today that Treasury agents had taken custody of the premises
of Japanese banking and business enterprises throughout the United States. Treasury personnel, who
included, among others, bank examiners, customs officers, and Treasury investigators, had special
instructions to prevent the access of all persons to the premises of such enterprises and to prevent
the destruction or removal of their books, records and other property.
“ The Secretary arranged the precautionary measure through telegrams yesterday to the presi­
dents of all Federal Reserve banks, whom he requested to obtain the cooperation of local police
wherever necessary to carry out his instructions.
“ Secretary Morgenthau said that the presence of Treasury Department personnel had fore­
stalled numerous attempts to remove securities and other valuable documents from the premises
of Japanese enterprises. In one instance in San Francisco, Japanese nationals were prevented from
removing from a Japanese company securities estimated as having a value of $40,000 or more.
“ The Secretary supplemented his announcement by stating that any person destroying, secreting,
or altering any record, paper, or other document relating in any way to any property transaction in
which any blocked national, including a national of Japan, or a person acting for or on behalf of such
a national, has any interest, is exposing himself to criminal prosecution, to a fine of $10,000 and to
imprisonment for ten years. Any person aiding in, abetting, advising, or conspiring in the destruc­
tion, secreting, or alteration of any such document is similarly subject to these criminal penalties.
E. H. FOLEY, JR.
Acting Secretary of the Treasury”
December 8,1941

Yours very truly,

R. R. GILBERT

President

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