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F ederal reserve Bank OF DALLAS FISCAL AGENT OF THE UNITED STATES Dallas, Texas, January 16, 1943 To All Banking Institutions, and others Concerned, in the Eleventh Federal Reserve District: The Secretary of the Treasury has issued the following public circular: ‘‘PUBLIC CIRCULAR NO. 21 UNDER EXECUTIVE ORDER NO. 8389, as amended, Executive Order No. 9193, sections 3 (a) and 5 (b) of the Trading with the Enemy Act, as amended by the First War Powers Act, 1941, relating to Foreign Funds Control.* (1) Status of sub-accounts. Each sub-account of a blocked account is deemed to be a separate blocked account. (2) Certain transactions not authorized by General Licenses No. 1, No* 1A, No. 4 and No. 27. (a) On and after January 16, 1943, General Licenses No. 1, No. 4 and No. 27 shall not be deemed to authorize the crediting of the proceeds of the sale of securities held in a blocked account or a sub-account thereof, or the income derived from such securities, to a blocked account or sub-account under any name or designation which differs from the name or designation of the specific blocked account or sub-account in which such securities were held; (b) On and after January 16, 1943, General License No. 1A shall not be deemed to authorize the transfer of securities held in a blocked account or sub-account thereof to a blocked account or sub-account under any name or designation which differs from the name or designation of the specific blocked account or sub-account in which such securities were held. (3) Certain transactions not authorized by specific licenses. On and after January 16, 1943, no specific license shall be deemed to authorize (a) the crediting of the proceeds of the sale of se unities held in a blocked account or sub-account thereof, (b) the crediting of the income derived from such securities or (c) the transfer of such securities to a blocked account or sub-account under any name or designation which differs from the name or designation of the specific blocked account or sub-account in which such securities were held, unless such specific license by its terms expressly author izes such crediting or transfer. RANDOLPH PAUL Acting Secretary of the Treasury” January 15, 1943 -Appendix B— Sec. 5 (b ), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; Public No. 354, 77th C ongress,'55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941; Ex. Order 8832, July 26, 1941, Ex. Order 8963, December 9, 1941, and E x. Order 8998, December 26, 1941; Ex. Order 9193, July 6, 1942; 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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