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„U,S.
tì
1» ‘
L I B R A R Y
5030
JUN 1 * 1972
T R E A S U R Y D E P A R 7 M £ NT
OF
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded Warehouses
at beginning
Total imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Eypp t tf.d.„.from Custom» Custody
Stock in Customs Bonded Warehouses
at end
STILL WIRES (Liquid Gallons):
Stock in Customs Bonded Warehouses
at beginning
Total imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
FTTpOrt.Pfl fl ■»wPnr + nmii ftiwtrnfly
Stock in Customs Bonded Warehouses
at end '
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Warehouses
at beginning
Total imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
FiagasyfrecLfram Cue taaa Custody.
Stock in Customs Bonded Warehouses
at e n d __________ _
DUTIES COLLECTED ONi
Distilled Liquors
Still Wines
Sparkling Wines
Total Duties Collected on Liquor
Total Duti
Commod
TOTAL DUT,
April
March
April
10 months ending Aprll_3Q
1941
1941
1940________ 1941_____ __JJ40---
8,282,976
990,863
9,273,839
1,052,391
8,156,903
1,007,218
9,164,121
878,640
6,214,842
1,329,762
7,544,604
774,623
6,976,713
10,079,145
17,055,858
8,822,328
17*41,4
4,137,917
12,402,043
16,539,960
9,691,393
- 79,-44T
8,216,116
8,282,976
6,769,120
8,216,116
6,769,120
1,614,392
338,600
1,952,992
251,905
"XfifiRO“
1,526,805
1,943,808
3,470,613
1,660,218
3*7^3r—
1,151,290
3,485,182
4,636,472
2,930,950
1,699,267
1,806,644
1,699,267
471,803
29,129
500,932
26,121
395,772
74,061
469,833
245,404
321,014
657,617
978,631
503,177
1,690,825 1,635,788
206,595
250,586
1,941,411 1,832,323
141,176
134,413
-354—
1,806,644
221,356
8,288
229,644
7,204
222,342
1,690,825
219,440
8,240
227,680
6,239
■— “•
’
'“di*®
221,356
*********
222,342
474,799
474,799
$ 2,603,958 $ 2,163,669 $ 1,917,914 $ 21,746,838 $ 24,001,435
220,575
1,499,494
2,492,949
121,668
128,565
77,556
725,274
1,502,022
20,808
16,977
$ 2,746,434 $ 2,309,211 $ 2,216,045 $ 23,971,606 $ 27,996,406
TWSS2
24i*2£3fg83
288^621*027 >J66,J241,629
'•'
(a) Including withdrawals for ship supplies and diplomat!c use.
12^6^38,135
....
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE
Saturday, June 21, 1941.
Press Service
No, 26-0
Commissioner of Customs W, R. Johnson today issued the following statement
showing imports of distilled liquors and wines, and duties collected thereon,
covering April, 1941, with comparative figures for April, 1940 and March 1941,
and the ten month periods ending April 1940 and April, 1 9 4 1 » ______________
April
DISTILLED LIQUORS
(Proof Gallons):
Stock in Customs
Bonded Warehouses
at Beginning.....
Total Imports (Eree
and Dutiable)....
Available for Con
sumption.........
Entered into Con
sumption (a)....6
Stock in Customs
Bonded Warehouses
at end..••«•■•••••
STILL WINES (Liquid
Gallons):
Stock in Customs
Bonded Warehouses
at beginning..,...
Total Imports (Eree
and Dutiable)..,.
Available for Consumpt ion,
Entered into Con
sumption (a).*.#.
Stock in Customs
Bonded Warehouses
at end,•«••••••••
SPARKLING WINES
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
at beginning
Total Imports (Eree
and Dutiable)
Available for Con
sumption.
Entered into Con
sumption (a)**.,.
Stock in Customs
Bonded Warehouses
at end...a.....,.
March
April
10 months ended
8 ,282,976
8 ,15 6 ,9 0 3
6,214,842
6 .9 7 6 ,7 13
4 ,13 7 .9 17
990,863
1,007,218
1 ,329.762
1 0 ,0 7 9 ,14 5
12,402,043
9,273.839
9,164,121
7 ,544,604
1 7 ,055,858
1 6 ,539.960
1,052,391
878,640
774,623
8,822,328
9 .6 9 1,39 3
8,2l6,ll6
8,282,976
6 ,7 6 9 .12 0
8 ,2 1 6 ,1 1 6
6 ,-7 6 9 .12 0
1,690,825
1 ,6 25 ,72 s
1 ,6 14 ,3 9 2
1 ,526,805
1 ,15 1,2 9 0
250,586
206,595
338,600
1,943 ,-808
3,485,182
1 ,9 4 1 ,4 1 1
1 ,8 3 2 ,3 2 3
1 .952,992
3 ,4 7 0 ,6 13
4 ,-636,472
13 4 ,4 13
1 4 1 ,1 7 6
2 5 1,9 0 5
1,660,218
2 ,930,950
1,806,644
1 .690,825
1 .699.267
1,806,644
1 ,699.267
2 2 1.3 5 6
2 19 ,4 4 0
4 7 1,8 0 3
395.772
3 2 1,0 14
8,288
8,240
2 9 .12 9
7 4 ,0 6 1
6 5 7 .6 17
229,644
227,680
500,932
469,833
9 7 8 .6 31
7.204
6 .239
2 6 ,1 2 1
245,4o 4
5 0 3 ,17 7
222,342
2 2 1.3 5 6
474,799
222,342
474,799
$ 2 ,603 ,95 S $2 ,16 3,6 6 9 $1 ,9 17 ,9 1 ^ $21,746,838 $24,001,435
¿stilled Liquors
till Wines
220 ,575 1 ,499 ,4 %
2 ,492,949
121,bbS
12*
1 Î502 .02 Î
Sparkling Wines
20,808
ZL
Total Duties Collected"
on Liquor
$ 2,746,434 $2,309,211 $2,216,045 $23.971.6o6 $27.996>4o6
(u) Including withdrawals for ship supplies and diplomatic use.
-oQo-
m
TREASURY DEPARTMENT
Washington
Press Service
FOR IMMEDIATE RELEASE
'fo+'Z-C - /
June 20, 1941
Reformatory
gs Bonds
Superintendent Huff said those on the prieoia payroll earn from $1 to
AjttJf
$4*50 a month.
Many paiiwcmiui who already have served considerable time JaaaMf
enough money to their credit to buy one or more of the $75 Bonds which in ten
years will be worth $100,
L Jt
Several hundred hct¥c sufficient funds to purchase
$18*75 Bonds which mature at $25*
Money earned by prisoners is placed to their credit in the Treasury
epartment until their release is effective.
The Treasury also will act as
custodian for the Bonds purchased by the prisoners.
One prisoner, in a note to Superintendent Huff, said:
MI personally feel that we inmates as a whole should put our shoulders
to the wheel and help win whatever there is to be won.”
Another wrote:
,rWe must support our countiy and those wearing the United States uniform
to the end. Although I am unable to wear such a uniform now, I can at least do my
part under the present circumstances by buying a Bond with the money I have earned
here,**
TREASURY DEPARTMENT
Washington
FOR IMM E D I A T E RELEASE,
Saturday, June 21, 19^-1»
P r e s s S e r vice
No, 26-1
Mor e than 1 , 6 0 0 p r i s o n e r s
have inv ested their
Ray L, Huff,
earnings
Superintendent
in the R e f o r m a t o r y at L o r t o n V i r g i n i a
in D e f e n s e Savings Bonds
of P e n a l I n s t i t u t i o n s
and Stamps,
for the D i s t r i c t
of
Columbia a n n o u n c e d today.
S u p e r i n t e n d e n t H u f f said those
earn from $1 to
$ ^ -,5 0
a month.
on the i n s t i t u t i o n ' s pa y r o l l
M a n y who
already have
serv e d c o n
siderable time h a d e n ough m o n e y to their credit to b u y one
of the
$«75
Bonds w h i c h in ten years w i l l b e w o r t h $100,
hundred h a d s u f f i c i e n t
funds
to p u r c h a s e
or mor e
Several
$l£,75 Bonds w h i c h m a t u r e
at $ 2 5 .
M o ney e a r n e d b y p r i s o n e r s
Treasury D e p a r t m e n t u n t i l
also will act
as
is p l a c e d to their
their r e l e a s e
credit
is effective.
in the
The T r e a s u r y
c u s t o d i a n for the B o n d s p u r c h a s e d by the pri s o n e r s .
One prisoner,
in a note
to S u p e r i n t e n d e n t Huff,
"I p e r s o n a l l y feel that we inmates as a w h ole
shoulders to the w h e e l a n d h e l p w in w h a t e v e r there
said:
s h ould put our
is to b e w o n . 11
Another wrote:
"We must support
States u n i f o r m to the
our c o u ntry and those w e a r i n g the U n i t e d
end.
A l t h o u g h I am unable to w e a r such a
uniform now, I can at least do my part u n d e r the p r e s e n t circum*-r
stances by b u y i n g a B o n d w i t h the m o n e y I h a v e earned here,"
S u perintendent H u f f
said the total i n v e s t e d in b o n d s
starncs was & "sub s t a n t i a l sum."
and
- * nation.
You can give real meaning to your own 4— H Club pledge —
head, heart, hand and health —
country.
to your club, community, and
By serving your country in this crisis in every possible
way, you can help to insure that there will be a club, a community,
and a great free America in the future.
6 O O
i
- 3 whatever is necessary to accomplish its defense; we have a great
j
deal that is worth defending; we want to defend it well*“
That is
the sentiment of Americans young and old.
f
Hundreds of thousands of young men have entered the
service of their country by joining the Army, the Navy, the Marine
Corps, or the Coast Guard.
Millions are volunteering their time,
thought, and energy in different lines of civilian defense.
In
these times, there is something that everyone can do, in contrib
uting to the national defense.
Yes —
there is something that you
can do.
Your national leaders of
H Club work have assured me
that you young people will be glad to assume the task of distrib-
<[
uting information on Defense Savings Bonds and Stamps, in your home
communities.
Here is a task that merits your best efforts.
Consider
for a moment the tremendous Job of getting enough planes, tanks and
munitions to defend this nation against the threat of the most power- ¡j
ful aggressor nation the world has ever seen.
It all takes money.
Your government wants to borrow that money from all the American
people.
Soon after you return to your homes, your local club
leader will receive a supply of pamphlets, called “Land of the Free.“
I hope you will read one of these pamphlets —
and see that every
one in your neighborhood receives one and reads it.
Your work and
your dollars can make a great contribution to the defense of our
highly*
A great part of our riches as a nation has always come
«|
from our farms*
A still greater part has come from the wonderful
people, all of them pioneers in their own ways, who have tilled our
soil and sown our crops and gathered the harvests from which America
has lived and breathed.
iRI
But the greatest riches of all has sprung
from the freedom of activity, the freedom of thought, which comes
from the rural way of living*
Nobody has greater respect than the
farmer for the beliefs of others, whether they pertain to politics,
religion or seed corn.
It has always seemed to me that the rural
people get closer than any others to the fundamentals of the good
life, closer to nature, closer to the Creator.
That is part of the
heritage of you boys and girls; it is the heritage of all Americans,
but it is yours to the greatest possible degree.
But our American heritage is threatened today as it has
not been for more than 15 0 years.
No group has a greater stake in
the outcome of this present world conflict than the American farmer.
His right to till his own acres, his right to take part in the
democratic determination of policies affecting his own welfare and
his children*s welfare, are directly involved in this struggle»
If
this so-called “new order“ of the dictators should triumph, we
should see the markets of the world closed to American farm products
which for more than a century have brought health and well-being to
the peoples of the earth.
The American people have said, in many different ways —
“We want to defend our democratic way of life; we are willing to do
i\
TREASURY DEPARTMENT
Washington
FOR RELEASE UPON DELIVERY
Monday, June 2 3 , 1941
Press Service
No* 26-2
The following radio address by Henry Morgenthau, Jr*, Secretary
of the Treasury, is scheduled for 11:50 a.m., Eastern Standard
T i m e . Monday, June 23, 1941 * before the 4-H Clubs encampment,
Washington. D* tf*, and i s ? or release upon delivery at that £lme*
I
am very glad to be here this morning to have this opportunity
121
of meeting you young men and young women who represent the 4- H
Clubs of America*
If you*11 let me boast a little, let me say
that I'm almost a member of 4-H myself*
eetiigy
As a farmer for many
I¡¡i'll
happy years, as the former publisher of a farm magazine and as a
¡¡¡Ìlii
parent, I have come into rather close contact with 4-H Club work.
E$ÌKc
i
I believe in it, like all Americans who know the things for which
¡¡hurt
4-H
iì¡Mit
Club work stands.
And because I believe in the values of
Club work, I have encouraged all my three children to become members
I ¡ i f SBC
of a 4-H Club in our home community in Dutchess County, New York.
ill®5
I should like to congratulate you young people who have had
the good sense to become members of the 4— H Clubs*
Your numbers
libs
||etob
grow so rapidly that it is difficult to keep track of you from year
iiisnifi
to year*
littiara
of you.
Already I understand that there are a million and a half
Nobody rejoices more than I do in the knowledge that so
% le
many of our rural boys and girls are having a part in this, the
finest activity of rural youth in all the world.
I think congratulations are in order because, to me, rural
America typifies to the greatest degree the things in which we
Americans take the greatest pride, the things we value most
Ithii
test
N
11
TREASURY DEPARTMENT
Washington
FOR RELEASE UPON DELIVERY
Monday, June 2 3 , 19^-1
Press Service
No. 26-2
The following radio address by Henry Morgenthau, Jr., Secretary of the
Treasury, is scheduled for 11:50 a.m., Eastern Standard Time, Monday,
June 23, 19^1i "before the U-H Clubs Encampment, Washington, D. C., and is
for release upon delivery at that time.
I am very glad to "be here this morning to have this opportunity of
meeting you young men and young women who represent the U~H Clubs of America.
If you’ll let me boast a little, let me say that I ’m almost a member of U-H
myself.
As a farmer for many happy years, as the former publisher of a farm
magazine and as a parent, I have come into rather close contact • with
Club, work.
I believe in it, like all Americans who know the things for which
H Club work stands.
And because I believe in the values of Club work,
I have encouraged all my three children to become members of a U-H Club in
our home community in Dutchess County, New York.
I should like to congratulate you young people who have had the good
sense to become members of the
b~H Clubs.
Your numbers grow so rapidly that
it is difficult to keep track of you from year to year.
that there are a million and a half of you.
Already I understand
Nobody rejoices more than I do in
the knowledge that so many of our rural boys and girls are having a part in
this, the finest activity of rural youth in all the world.
I think congratulations are in order because, to me, rural America
typifies to the greatest degree the things in which we 4meI*icans take the
greatest pride, the things we value most
highly.
A great part of our
- 2 riches as a nation has always come from our farms.
A still greater part has
come from the wonderful people, all of them pioneers in their own ways, who
have tilled our soil
and sown our crops and gathered the harvests from
which America has lived and breathed.
But the greatest riches of all has
sprung from the freedom of activity, the freedom of thought, which comes
from the rural way of living.
Hobody has greater respect than the farmer
for the beliefs of others, whether they pertain to politics, religion or
seed corn.
It has always seemed to me that the rural people get closer than
any others to the fundamentals of the good life, closer to nature, closer to
the Creator.
That is part of the heritage of you boys and girls; it is the
heritage of all Americans, but it is yours to the greatest possible degree.
But our American heritage is threatened today as it has not been for
more than
150
years.
Ho group has a greater stake in the outcome of this
present world conflict than the American farmer.
His right to till his own
acres, his right to take pa.rt in the democratic determination of policies
affecting his own welfare and his children’s welfare, are directly involved
in this struggle.
If this so-called ”new order” of the dictators should
triumph, we should see the markets of the world closed to American farm
products which for more than a century have brought health and well-being
to the peoples of the earth.
The American people have said, in many different ways —
”We want to
defend our democratic way of life; we are willing to do whatever is
necessary to accomplish its defense; we have a great deal that is worth
- 3 defending; we want to defend it well.,f That is the sentiment of
Americans young and old.
Hundreds of thousands of young men have entered the service of their
country hy joining the Army, the Navy, the Marine Corps, or the Coast Guard.
Millions are volunteering their time, thought, and energy in different lines
of civilian defense.
In these times, there is something that everyone can
do, in contributing to the national defense.
Yes —
there is something that
you can do.
Your national leaders of 4-H Club work have assured me that you young
people will be glad to assume the task of distributing information on
Defense Savings Bonds and Stamps, in your home communities.
that merits your best efforts.
Here is a task
Consider for a moment the tremendous job
of getting enough planes, tanks and munitions to defend this nation against
the threat of the most powerful aggressor nation the world has ever seen.
It all takes money.
Your government wants to borrow that money from all the
American people.
Soon after you return to your homes, your local club leader will
receive a supply of pamphlets, called "Land of the Free.”
read one of these pamphlets —
receives one and reads it.
and see that everyone in your neighborhood
Your work and your dollars can make a great
contribution to the defense of our nation.
your own U-H Club pledge —
community, and country.
I hope you will
You can give real meaning to
head, heart, hand and health —
to your club,
By serving your country in this crisis in every
possible way, you can help to insure that there will be a club, a community,
and a great free America in the future.
'OOOr.
JF
/^b
TREASURY DEPARTMENT
Washington
P r e s s Service
No.<
..
FO^RELEASE,
â t -HÊ
^
V)
-
3
The T r e a s u r y Depa r t m e n t
to t ake
all
o r d e r e d Customs o f f icials *««3?
necessary
■^national
steps to p r event any florm»n-
f r o m d e p a r t i n g from
the U n i t e d States p e n d i n g f u r ther i n s t r u c t i o n s . .
The a c t i o n w as t a ken to
O r d e r of t he P r e s i d e n t
insure c o m p l i a n c e w k h
of J u n e 1*,
ISHtt,
the E x e c u t i v e
regulating transactions
f o r e i g n ex c h a n g e an d f o r e i g n - o w n e d p r o p erty.
The E x e c u t i v e O r d e r a nd the regulations
in
t
a p p r o v e d t y the Pre s i d e n t
p r o h i b i - P S h « “n a t i o n a l s f r o m e x p o r t i n g or w i t h d r a w i n g from the
U n i t e d States
any gold or silver c o i n or b u l l / o n or any c u r r e n c y
an d r e q u i r e r e p o r t s w i t h respect
in the U n i t e d S t a t e s
P roperty sltuated
in w h i c h Su c h ^ 5 ^ ? a t i o n a l s
i
interest w h a t s o e v e r *
Thriftructions
h a v e any
/
r e q uire C u s t o m s o f f i c i a l s .„.1 1 - - U I IIHI Iill
V t S i e a S to cover all p o s s i b l e m e ans / f departure, i n c l u d i n g vessels,
trains,
busses,
a i r planes a nd i n t e r / a t i o n a l b o r d e r r o ads
- r * s" “ 8 m i ï
the E x e c u t i v e O r d e r and the r e g u l a t i o n s .
"
so that no
,ltt
jt( * L
Lé
r
JfoOo-
j
0 ^
#
1 4^' J.AW-
if
h
—t
T
A
W
T R EA SU R Y D EPARTM ENT
INTER OFFICE COMMUNICATION
date
TO
Mr. Schwarz
FROM
Mr. Foley
June 17, 194-1*
Attached is a proposed release which Justice will
put out late this afternoon.
It has been cleared by Secretary
Morgenthau and Acting Attorney General Biddle.
Attachment
/
¿ha Treasury Department and the Department
Customs officials end
Immigration officers to take all necessary steps to pre-
with the Executive Order of the President of June 14, 1941,
regulation transactions in foreign exchange and foreignowned property iff The Executive Order and the regulation*
approved by the President prohibit German^flitionals from
exporting or withdrawing from the Halted States any gold
or silver coin or bullion or any currency and require re
ports with respect to any and all property situated in the
United States in which such German Nationals have any
interest whatsoever.
Ill
instructions
require Custom.
officials and Immigration officers to cover all possible
means of departure, Including vessels, trains, busses,
airplanes and international border r o a d ^ so that no Sermon,
any leave this country without having fully complied with
the Executive Order and the regulations.
TREASURY DEPARTMENT
Washington
FOR REI,RASE
Press Service
Sunday, June 22, 1941
WASHINGTON, D.C. —
A one-story glass block building to be
known as ”Treasury House”, now under construction in the park at 14th
Street and Pennsylvania Avenue, will be formally dedicated and opened
to the public on July 1, the Treasury announced today*
The new structure will be a center of information for the
Defense Savings Program.
Thirty-two feet long and fourteen feet wide,
the building, among other features, will include a glass-enclosed
broadcasting studio through which the public may watch news broadcasts.
The building will be covered with an ornamental Jeffersonian dome
surrounded by four American eagles.
The building w i n be floodlighted
at night.
A series of programs and events scheduled for the month of
July at ”Treasury House”,
win
include hourly news broadcasts each
day over a public address system, band concerts, and prominent speakers.
Hostesses will be in constant attendance to sell Defense
Savings Stamps and to distribute information and literature on Defense
Savings
'Smumm 8T Bonds.
- oOo -
-
Date
Submi11ed
20» 1943-
PRESS SECTION
DEFENSE Sa VIMGS STa FF
NEWSPü PER HEL-ùxìSE
Mr. Sellar z•
.attached release -
re »Treasury House”
For Release Sunday, June 22. 1941
> »* H 1*
Harford Powel
Im FOR IMMEDIATS RELEASE
Workmen were building a one-story
in the park at 14th st • and Pennsylvania avenue
glass — block house
which , the Treasury
announced , will he used as a center of information about United States
Defense Savings Bonds and Stamps. The building will be opened July 1 with
"torn «1 dedicatory r a n t n n n
The
program .
building
which will be thirty-two feet long and
fourteen feet wide
will house a glass enclosed
visitors may watch
news
A
broadcasting booth
where
broadcasts.
Jeffersonian
dome
flanked by four
American eagles
will surmount the building. It will be floodlighted at night.
Programs
already scheduled for the new structure
the first month include hourly news
during
broadcasts on week days which will be
carried on a public address system » band
concerts
and talked by well
known speakers.
Hostesses will be in constant attendance and will be
prepared to sell
and
.i.
Ps B
m t
Postal Defense Savings Stamps
distribute information about Defense Savings Bonds.
M 0n 4
FOR IMMEDIATE RELEASE,
June 23, 1941*
Workmen, were building a one-story glass-block house in
4 — ------ --the park at 14.tk Street and Pennsylvania Avenue which, the Treasury
.i .-r.-n.i..,..,,,m M||... ..............................
as a center of information about United
lannounced, will
Ptates
yi Ty' l
Savings Bonds and Stamps.
The building will be opened^
JL
wi+.h fl riarH r rat,any prngramn
The building which will be thirty-two feet long and fourteen
feet wide will house a glass-enclosed
booth where visi
tors may watch news broadcasts.
A Jeffersonian dome flanked by four American eagles will
surmount the building.
It will be floodlighted at night.
Programs already scheduled for the new structure during
the first month include hourly news broadcasts on week days.which
„
| , , ûn
/
gSLoP-*
—4c
concerts and talks
will^be carried on a public address system,
by well-known speakers.
if
and wi_
•«ml uia^WTOfraiTCul»ii*»r
1
I\AAAjt|L $**~~&*
.....
Le^ational Defense
I
Sfo^ngs campaign w ill be openedxtateapaofe at 14th st • and
B W E 7
_
Pennsylv^ft^^yenue Ju ly 1 * xfch* xTl w ^iiAjLJuiumaaagao
.
. .
«0
a t ,.
• ■ ■ 'r&m
life
j&0$*
A new^'Oimif'^al Anforma%ioiL center for the National
^efense ^avings campaign will he opened July 1 on INiaaaYlvania avenue
at 14th street.
""
Workmen today were building a one-story glass-block house
avenrce
^
on Pennsylvania/^t 14th street* which will be opened July 1 as a new
^apital information center for the National Defense Savings campaign.
After a dedicatory program, the center will be devoted to ttx dissemination
of facts about Defense Savings Bonds *nd S temps, and the sale of the latter.
IJcfj
TREASURY DEPARTMENT
Washington
P r S SS Î F h 106
N o * 2b~ 4
FOR I M M E D I A T E R E L E A S E
Monday, J une 23, 19*H,
W o r k m e n t o d a y w e r e b u i l d i n g a o n e - s t o r y g l a s s - b l o c k h o u s e on .
Pennsylvania A v e n u e at' lH-th Street,
a new Capital
campaign.
w h i c h will be o p e n e d J u l y 1 as
i n f o r m a t i o n center for the N a t i o n a l D e f e n s e Savings
A f ter a d e d i c a t o r y program,
the center will be d e v o t e d to
dissemination of facts about D e f e n s e S a v i n g s Bonds an d S t a m p s , a n d
the sale of the latter*
The building,
feet wide,
w h i c h will be t h i r t y - t w o
will h o u s e
feet l o n g . a n d fo u r t e e n
a g l a s s - e n c l o s e d r a dio b o o t h w h e r e v i s i t o r s m a y
watch news b r o a d c a s t s ,
A J e f f e r s o n i a n d ome f l a n k e d b y four A m e r i c a n eagles w i l l
the building.
P r o grams
It will be f l o o d l i g h t e d at night.
already
s c h e d u l e d for the n e w structure d u r i n g the
first m o n t h include h o u r l y news b r o a d c a s t s
also be c a r r i e d on a p u b l i c
a d d ress
system,
and talks b y w e l l - k n o w n s p e a k e r s §
-0O 0f
f
surmount
on w e e k days,
which will
as well as b a n d co n c e r t s
he wae relieved of
active duty and placed on the retired list
with the rank o f Jjd&r ^¿airal, in 1938*
Admiral Thomas M. Molloy began his
oaresr in
'
* “ a ? u^ex-t f
the U* S. Revenue Cutter Service)
the Coast Guard
eeéèt in 1897^ J He was commissioned a fprd/^/A&wtenant ÇEnsign) in
_
/
.
CP 4 / ^ ' ■'
1É99 and was
assigned to the^utter GRISHAM* iSHiigi fctmi^cutters on which he 1
#
served were the FORWARD, PERRY, BEAR, McCULLOCH,
MOHAWK, DEXTER, ALGONQUIN, MORRILL, TAH011A, ANDROSCOOOIN, TALLAPOOSA,
TAMPA, and Igl CAYUGA
HÉ
.utter TAHOMA when
was/icecutiTe/fficer on the
Jr
P*gPWhPB in Alaskan waters ,|was wrecked |4n September^
1914,
He
was
commended for 4gpg skill and judgment in transporting in
a surfboat 22 survivors from the
TAHOMA
to
a
group of islands 800 miles
to the northward*
the World War ¡Admiral Molloy saw service Jrith the 'JUPted
Navy. and
in
succession eomm&nded the U*3.3* RAMBLER, the U.S.5.
Aa ^Cla/
NOKOMIS and the U.S.S. HENRY R. MALLORY* For his service 4an3Spm&&&~*
/>
i M y ' he was awarded the Navy Cross and the Victory Medal*
In addition to his sea duty, Admiral Molloy served in various im
portant administrative capacities on shore, among them being the follow
ing!
Assistant Inspector, Chicago, Illinois; Captain of the Port, Chi
cago, Illinois; President, Coast Guard Court, New York, N. Y*; Eastern
Inspector;
Commander of the New York Division and Captain of the Port
of New York. | Following his tour of duty as Commander^ New York Division^
TREASURY DEPARTMENT
U. S. COAST GUARD
Public Relations
June 21, 1941«
SUPERINTENDENT OF CONSTRUCTION OF FORMER
i
LIGHTHOUSE SERVICE RETIRES FROM COAST GUARD
Lieutenant Thomas P. Fowler, of the Marine Engineering Section at
Headquarters and an employee of the former Lighthouse Service, is to re
tire from active duty on August 1, after 36 years of service.
He entered
the Lighthouse Service in 1905 as first assistant engineer and served as
first assistant and chief engineer on various lighthouse tenders located
in the Gulf of Mexico, on the Atlantic Coast, and on the Great Lakes until
1913 at which time he was detached from sea service and assigned as super*intendent of construction in the Lighthouse Service.
During this assignment, he supervised the construction of twenty-one
lighthouse tenders, among them the Tenders WAKEROBIN, HICKORY, HEMLOCK and
HOLLYHOCK, and fourteen lightships including No. 112 (NANTUCKET), the lar
gest lightship in the Service.
Lieutenant Fowler was superintendent of
construction in various shipyards on the Atlantic coast, the Great Lakes,
the Western Rivers, and the Pacific Coast.
After the consolidation of the Lighthouse Service with the United
States Coast Guard in 1939, he was commissioned Lieutenant in the Coast
Guard and assigned to the Marine Engineering Section at Headquarters.
In anticipation of his retirement, he was tendered a luncheon by his
associates at the Cosmos Club in Washington, D. C. on June 19.
\
Treasury Department
Washington
FOR I M M E D I A T E RELEASE*
Monday, J u n e 23, 1941,
Press S e r v i c e
No. % ^ ^
J
C o m m a n d a n t of the C o a s t G u a r d J a n
had been
called into active service and is n o w on d u t y in W a s h i n g t o n , in charge
of the C o a s t Guard R e l i e f Organization.
R e a r A d m i r a l R. R. W a e s c h e ,
nounced t o d a y that R e a 4 A d m i r a l Thom a s M. Molloy, retired,
A d m i r a l M o l l o y joined the old R e v e n u e C u t t e r S e r v i c e as a cadet
in 1897, and after a b r i l l i a n t career, w a s r e t i r e d , w i t h the r a n k
of rea4> admiral, in 1938. S e r ving w i t h the N a v y d u r i n g the W o r l d War,
he w as a w a r d e d the N a v y C r oss and the V i c t o r y M e dal for o u t s t a n d i n g
merit.
Admiral Waesche
als o a n n o u n c e d that L i e u t e n a n t T h o m a s P. Fowler,
of the M a r i n e E n g i n e e r i n g S e c t i o n at H e a d q u a r t e r s and a n em p l o y e e of £
the f o r m e r L i g h t h o u s e S e r vice, w i l l r e t i r e from a c t i v e d u t y on A u g u s t
1, a f t e r 3 6 years of service. He e n t e r e d the L i g h t h o u s e S e r v i c e ill
1 9 0 5 as first a s s i s t a n t engineer, and s aw service on v a r i o u s l i g h t
h o u s e t e n ders located in the Gulf of Me x i c o , on the A t l a n t i c Coast,
and on the Great Lakes ^uiitll 1913» at w h i c h time he w a s d e t a c h e d from
sea s e r vice and a s s i g n e d as s u p e r i n t e n d e n t of c o n s t r u c t i o n in the
L i g h t h o u s e Service. D u r i n g this a s s i g n m e n t , he s u p e r v i s e d the c o n
s t r u c t i o n of t w e n ty-one l i g h t h o u s e tenders, among 'them No. 112 (Nan
tucket), the largest l i g h t s h i p in the service.
W h e n the L i g h t h o u s e S e r v i c e w a s c o n s o l i d a t e d w i t h the Coast
Guard in 1939, Fowler w a s c o m m i s s i o n e d L i e u t e n a n t in the C o a s t Guard
and a s s i g n e d to the M a r i n e E n g i n e e r i n g S e c t i o n ail Headquarters.
O0 -0O
TREASURY DEPARTMENT
Washington
Press Service
No* 26-5
FORIMI DIATE RELEASE,
Monday,
June 25,
1941
R ear A d m i r a l R. R. W a e s c h e ,
C o m m a n d a n t of the Coast Guard,
announced t o day that R e a r A d m i r a l T h o m a s M. Molloy,
called into a c t i v e
retired,
service a n d is n o w on duty in W a s h i n g t o n ,
has b e e n
in charge
of the Coast G u a r d R e l i e f O r g a n i z a t i o n *
Admiral
in 1897,
M o l l o y join e d the old
and a f ter a b r i l l i a n t
of rear admiral,
in 1938.
Re v e n u e C u t t e r S e r v i c e as a cadet
carreer,
was retired, w i t h
the r ank
S e r v i n g w i t h the N a v y d u r i n g the W o r l d
-and the V i c t o r y Medal for out -
War, he was a w a r d e d the N a v y Cross
standing merit*
A d m i r a l W a e s c h e also a n n o u n c e d that L i e u t e n a n t T h o m a s P. Fowler,
of the Mari n e E n g i n e e r i n g S e c t i o n at H e a d q u a r t e r s and an employee
of the former L i g h t h o u s e Service,
August 1,
will r e tire
after 36 yeais of service*
He e n t e r e d the L i g h t h o u s e Service
in 1905 as first a s s i s t a n t engineer,
a n d saw service on v a r i o u s l i g h t
house tenders l o c a t e d in the G u l f of Mexico,
and on the G r eat L a k e s u n t i l 1913,
f r o m a c tive d u t y on
on the A t l a n t i c Coast,
at w h i c h t i m e he was
detached from
sea service and a s s i g n e d as s u p e r i n t e n d e n t of c o n s t r u c t i o n m
Lighthouse Service.
D u r i n g this a ssignment,
construction o f t w e n t y - o n e l i g h t h o u s e
the
he s u p e r v i s e d the
tenders,
among
t h e m No. 112
-A?'"
(Nantucket),
the l a r g e s t l i g h t s h i p
in the service*
Whe n the L i g h t h o u s e S e r v i c e w as
Guard in 1939,
Fowler was
c o n s o l i d a t e d w i t h the Coast
commissioned Lieutenant
in the Coast G u a r d
and assigned to the M a r i n e E n g i n e e r i n g S e c t i o n at H e a d q u a r t e r s .
-oOo-
2.
!
The note» «101 be issued «nder au th o rity of en a ct o f Congraas (knomi as
«Reconstruction Finance Corporation Aot*) approved Jaraiary 22, 1932, a» aaandad
i
M d «uppleranted.
The ineora derlred f m
Fédéral ta x e « , no* or h eraafter iapoeed.
the notes shaU he «ab ject to a U
The note« « h a ll be «ab ject to e«ta tet
in h erltan ee, g iît or other excise ta x a s, "hether Fédéral or S ta te , bot « h a ll be
___ P* froœ a U taxation no- or hereafter iepoeed en the principal er iateraet
thereof by any Torritoiy, dependenoy, or possession of the United States, or by
*ny State, «mnty, uunielpality, or local taxing authorlty.
The«« notes « h a U be
la«ftl investaente, and ray be aeeepted as security, fer ail fiduciery, trust,and
public fonde the ineeetaent er depoeit ef id»ieh etaaU be wnder the authorlty er
eontrol of the United State« er aay officer or offioere thereof.
3.
The authorialng act provides that in the «vent the Beconetruction Finance
Corporation ahall be unable to pay upon demand, «hen due, the prinelpal of or
interest on note« lasued by it, the Seeratery of the Traaeury a h a U pay the ameunt
thereof, whleh is authorised to be approprlated, out of any moaaya i* the Traaeury
not otherwise apprapriated, and thereupon to the «ottent of the «raunte eo paid the
Seeratery of the Traaeury s h a U eucoeed to «11 the rights of the holders of «uoh
notas*
Bearer note« with Interest coupons attached sill be Issosd in denaainatiens of 11,000, »5,000, »0,000 and »00,000.
The notes eUl not be ieeuod in
registered form.
H I,
SUBSCRIPTION ADD AI10TNHIT
X, Subscriptions -1U be received et the Federal Reserve Banks and Branches
»nd at the Traaeury Depertsmnt, Washington.
Subeeribere eust agree not to e«U
or otherwise dispose of their subscription«, or the securiUe« which ray be «Uottsdl
thereon, prior to the closing of the subscription books. Bonking institutions
fl__ „ n y m 7 .uhuit subscriptions for account of oustoners, but only the Federal
1W '
v:,-. >.• -v' 1
~~
KSC0B3THUCTI0H T O M A 01 OOSPOBATIO»
ss
i
pxrceht
iwrss or sebiss w , sox v m 15,1944
Dfttad and tm i i i ^ i a t M M t i w > <l«3r 3# 1941
t o u t add
BxaxromosAUur « «
m b
both
as
t o ixtkh^ t a b d
r n H t n
the
wmtsj
STATES, WHICH OUARAHTT IS EXPRESSED OK TAB FACS OF BACM HOTS
1941
|p
Department Circular ili«
TMAS0HT DSPAKTMEOT,
Office of the Secretary,
Washington, June 24, 1941«
664
Fiscal Service
Bureau of the Public Debt
Ml
SI
X.
m
X.
«!*
OFFERITO OF HOTSS Al© IHFXTATXOH FOR TEDDERS
Th. Secretary of th. Treasury, on behalf of tho itooonotruction Fimneo
il l Corporation, invitee cubacriptiotta, at par and accrued interest, fro» the people of
1
the United States for notes of the Reconstruction Finance Corporation, designated
T O
x percent note» «I Serie. W.
'
aboutse
.
2«
m
m
The « « a t of the offerta« ta «900,000,000, or there-
The Secretary of the Treasury, on behalf of tho Heoonstruotloa Finance
Corporation, offers to purchase cm July 3, 1941, at par and accrued interest, ths
fell
1
outstanding notes of ths Corporation designated Series H, Maturing July 20, 1941,
i
to the extent to nhlch the holders thereof subscribe to the issue of Series W notes
||| hereunder*
Tenders of Sorioe R notes for that Purpose aro invited*
II,
DESCRIPTION OF H0TKS
|p|*
1*
The notes sill be dated
July 3, 1941, and will bear interest fro* that
data at the rate of 1 percent per annua, payable on a semiannual basis on Oeto_
ber 15, 1941, and thereafter on April 15 and Oetobor 15 in each year until the prla*
..
cipal amount becomes payable. They ^UUL nature April 15, 1944# and will not be sub*
¿set to call fcr redemption prior to Maturity«
W&L
n
V* asRBBAL rmnsiùm
X. As fl»cal agants of ilio Ünited Stato», Foderai Hessrre Bank# aro authorised
and rebooted to reesive subscriptions, to nahe aHotaent» m the basis and up to
§g§¡§
the ansante indicated by the Secretary of the Treasury to the Federal Reserve Ranks
fi:*
■ P 1*'*, tha respective dietrista, to iaam alXotaent notices, to racaire payaent for
mM¡
I notes allotted, to neks delivery of notoe on fall-paid subscriptions allotted, and
m
JJJJ
they M y ins» Ínterin receipts pending delivery ef tin definitive notes*
2« The Secretary of the Treasury say at any tine, or fren tine to ties, pre
H M
p h
scribe supplemental or amendatory rulos and regulations governing the offering,
IIÍI
which will to eoanunieatod promptly to tha Foderai Reserve Banka.
IWRY MCR0K?ITHAU, JR»,
Secretary of the Treasury,
S
m
K**arya Banks and tlui froasnry Bopartnant **a authariaod ta sot ao official aganalai«
Gthars than b&nking institutions « i n not ba psmittad to anfcar subserip-
tiens oxeopt for thair oun secouai.
Subacripiiona frwa boldars of Sariaa H notas
tendarad far pure!»** should ba aecoapaniad by suai» notas ta a par anount aqual
ta tha par »«g*“***- af notas of Sariaa W subeoribad far#
^
bat
Otbar subscription» f w »
trust coispaniea faT thair m a acoount « U X ba raeairad without dapoait
ba rastiiatad In eaah casa ta an anount not axeaading ooa-half of tha
ospitai and suiplua of tfea subsoribiny bank or trust oanpaay#
Othar sub-
«cription« fron all atbora m s t b# aoconpaniad by psynant af Iß paraant of tha
anount of notas appliad far»
2#
Tha Sasratary af tha Traasuiy raaarrsa tha right ta rsjaot *ny subseriptioa,
In «hola ar in part* ta allst lass than tha anount af notas appliad for# and ta
tha boaks sa ta any ar ail subsoriptiona at any tins «ithout notice j and any
astiaci ha nay taka In tbaaa raspasti aball bs final#
dubjsst ta thaas raaarra-
tions, «ubacriptions fron holdars af Sariaa h notas «ha tender than far purchaaa
hereunder *111 ba allottad ln fall*
AIXotnsni notices * U 1 ba aant ont prcaptly
upm allotnant, and tha basi» af tha allotnant sili ba puhlisly arniouncad»
If#
1*
u
Pâ TMSKT
fUynsut at par and aosruad intaraat, If any» far nataa allottad harsundar
t b« m d e or eoaplatad on ar bafara Jbly 3» 1941# sr an latar allotnant.
In
arary essa «bara paynsnt la noi so oonplaisd» tha paynent ulth application up ta
10 paraant af tha anount of notas appliad far ahaH, upon daclaration nada by tha
Secretary af tha Traasury in hia dissroilsn» ba forfaitad ta tha United Statai#
notas af Strias » tandsrad far purehaaa must hass coupons datsd duly 30» 1941#
attaehad, and paynsnt «111 bs nads at par and assrusd intaraat ts July 3# 1941*
Ths principal proosada af tha Sarlas I nata# «ili bs appliad In paynsnt af tha
Striai W notas» and accrued intaraat fron Jasxuaxy 30» 1941 ta duly 3# 1941 on
<** 8 »
la*.
The« previsione «re « N t f t M U f
***** *» th*
elr,rai"
released toàay.
Subeorlptlons *111 ho reeelved at thè federai Heeerve M n
« d Braaahe.,
«ai «t ito Treaeury Dapartnent. faehingtens they »111 « t he «gelyjej ni *1»
Beconstruetion PInane* Corporation.
Banking institutlons generelly aay sub
alt subserlptions for aocount af custoaers, but only »he federai »•«•**•
M k ,
ani thè Treasury Bepartneat « • «»thorlseà to «et «* » t t lc lt X ««.nel...
« h e r . thaa teakia« Uetltutlon* *111 «et he p.rnltted te entar enb.orlptlon.
« e apt te r thalr ovn «oeaunt.
Snbeertpttene fra* hoider# of darles * nota«
tenderai far parchase sheuld he accompanled by such notes »0 » P«r «usount
e q u i to thè par aaount e t notes ef Serles * subscribei for.
tlaas fra» barite
Other «ubserip-
«ad trust conpanl«. for thelr own «oeouat * U 1 be reeeleei
wlthont ieposlt but *111 he restrleted in e«eh esse to «n «saunt not ereeed-
leg one-half et thè eonbined capitai «ad surplus of thè subscrlblng barde or
trust eonpany-
Other subserlptions fron «Il othors nust he «comparii sd by
payment of 10 pereent of thè anonnt of notes «pplled for.
Ih » rlght ls reservad to aloso thè boote as to any or all subserlptions
at any tino vltheut notte*.
Subjeot to thè reaervation* « t forth In thè
officiai circular, subserlptions fron holders of Sorte* * note* »ho tender
thea for purch黫 under thl. offerta« *111 he nllotted In full.
any
Pnynent far
nate« allotted nust he nade or eo^leted on or hefaro Joly 3. *$*•*■» * •*
later «llotnent. Series H notes are outatanding in thè aproxímate amount of
$211,000,000.
,
^
fh » taxi of %he officiai circular followoi
vwksmr w p & m m m
A
1Viashington
ton
mmim
fuetday, June
ekw spapsis,
Pr* ÄÄ 9a****,
19*1.
*°* ^
Í7Z3/W
fh» Secretary of the freasury, «* behalf of th« Beconstruction Finance
Corporation, today smnouneed tha plan for refinaneing th« outstanding noto»
of Serlas Ä of tha Corporation maturine July 20, 19*1* and ralolng additional
fand* for tho Corporation, through offerta« for subscrlption, at par and ac
ornad interest, through thè Federal Reserve Banks, aotos of th» Corporation,
deetgaated 1 poroont aotos of Serios W, ln tha aneuat of $$00,000,000, er
-*
thereabouts, and at thè sana tiaa effering to pnrohasa an July 3* ^9*1* at
par and acornad intarasi, tha outstaading natas sf Sartas S to tha exteat
tha hol dar s af such naturlag notas subscriba for tha nov natas.
fha notas of Serles V non offerad vili be datad M y
3* 19*1* dad vili
bear interest fron that date at tha rata of 1 poroont por anno* payable on a
seni aasmal basis on April 1$ and October 1$ in each year.
fhoy vili natura
on April 1$, 1$**, »ad will not be subject to call for redeaption prior to
naturi ty.
They vili bo Issued only in bearer fora vith coupons et tache à, in
denoninations of $1,000. $$,000, $10,000 and $100.000.
fho notas vili bo fully and nnoondltlonally gnarantood both as to inter
est and principal by the United States.
Pursuant to the provisions of ths
Publie Debt Aot of 19*1, interest upon tho notes aov offsred shall not hâve
any exeaption, as such, under Federal fax Acts nov er haraaftar anactad.
Otharvisa thè notes vili be accorded the sane exactions fron taxation as ara
accordeá othar issues of Eaconstruction Finaneo Corporation notas nov entstand.
TREASURY DEPARTMENT
Washington
6f
Press Service
No. 26-6
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesdayt June 2*+« 19^1*
6/25/41
The Secretary of the Treasury,
on behalf of the Reconstruction
Finance Corporation, today announced the plan for refinancing the
outstanding notes of Series N of the Corporation maturing July 20,
Mussi
19iUL, and raising additional funds for the Corporation, through
si sotti
offering for subscription, at par and accrued interest, through the
idiUiJ
Federal Reserve Banks,
i tadw
notes of Series W, in the amount of $50 0,000,000, or thereabouts,
rpontiss
and at the same time offering to purchase on July 3, 19^1)
)00, or
and accrued interest, the outstanding notes of Series N to the extent
VjK St
the holders of such maturing notes subscribe for the new notes*
notes of the Corporation, designated 1 percent
at P ar
The notes of Series W now offered will be dated July 3 , 19^1,
ixtiat
| and will bear interest from that date at the rate of 1 percent per
sudvìi
I annum payable on a semiannual basis on April 15 and October 15 in
each year.
lyakU ft
LU »W
They will mature on April 15, 1 9 ^ i
I ject to call for redemption prior to maturity*
pftsrto
only in bearer form with coupons attached,
tlachfti*
f5,900, $10 ,0 0 0 and $1 0 0 ,000.
j;
K toM
They will be issued
in denominations of $1 ,0 0 0
The notes will be fully and unconditionally guaranteed both as
11| to interest and principal by the United States.
provisions of the Public Debt Act of 19^1,
Pursuant to the
interest upon the notes
1 now offered shall not have any exemption, as such, under Federal Tax
uioiM
inetti'
and wllx not be sub’-
!
Acts now or hereafter enacted.
Otherwise the notes will be accorded
1
the same exemptions from taxation as are accorded other issues of
Reconstruction Finance Corporation notes now outstanding.
These
,80« ^
provisions are specifically set forth in the official circular
;1
released today.
- 2
Subscriptions will be received at the Federal Reserve Banks and
Branches, and at the Treasury Department, Washington; they will not
be received at the Reconstruction Finance Corporation,
Banking
institutions generally may submit subscriptions for account of
customers, but only the Federal Reserve Banks and the Treasury De
partment, are authorized to act as official agencies.
Others than
banking institutions will not be permitted to enter subscriptions
except for their own account.
Subscriptions from holders of
Series N notes tendered for purchase should be accompanied by such
notes to a par amount equal to the par amount of notes of Series W
subscribed for.
Other subscriptions from banks and trust companies
for their own account will be received without deposit but will be
restricted in each case to an amount not exceeding one-half of the
combined capital and surplus of the subscribing bank or trust
company.
Other subscriptions from all others must be accompanied by
payment of 10 percent of the amount of notes applied for.
The right is reserved to close the books as to any or all sub
scriptions at any time without notice.
set forth In the official circular,
Subject to the reservations
subscriptions from holders of
Series N notes who tender them for purchase under this offering will
be allotted in full.
Payment for any notes allotted must be made or
completed on or before July 3 , 19^1, or on later allotment.
Series
N notes are outstanding in the approximate amount of $2 1 1 ,000,000,
The text of the official circular follows;
RECONSTRUCTION FINANCE CORPORATION
1 PERCENT NOTES OF SERIES W, DUE APRIL 15, 1944
Dated and bearing interest from July 3, 1941
FULLY I D UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL
BY THE UNITED STATES, WHICH GUARANTY IS EXPRESSED ON THE FACE
OF EACH NOTE
1941
Department Circular No* 664
TREASURY D EPA RTMENT,
Office of the Secretary,
Washington, June 24, 1941#
Fiscal Service
Bureau of the Public Debt
I.
1*
OFFERING OF NOTES AMD INVITATION FOR TENDERS
The Secretary of the Treasury, on behalf of the Reconstruction
Finance Corporation, invites subscriptions, at par and accrued inter.esif.
I
from the people of the United States for notes of the Reconstruction
Finance Corporation,
designated 1 percent notes of Series W#
The
amount of the offering is $500,000,000, or thereabouts#
2#
The Secretary of the Trea.sury, on behalf of the Reconstruc
tion Finance Corporation, offers to purchase on July 3, 1941, at par
and accrued interest, the outstanding notes of the Corporation
designated Series M, maturing July 20, 1941, to the extent to which
the holders thereof subscribe to the issue of Series W notes here
under.
Tenders of Series N notes for that purpose are invited#
II. DESCRIPTION OF NOTES
1#
The notes will be dated July 3, 1941, and will bear interest
*
from that date at the rate of 1 percent per annum, payable on a semi;’I
annual basis on October 15, 1941, and thereafter on April 15 and
October 15 in each year until the principal becomes payable*
1
mature April 15, 1944, and will not b e subject to call for redemption
prior to maturity#
¡1-B>
They/w&lX.
2
f
2«
The notes will be issued under authority of an act of
; Congress (known as ’’Reconstruction Finance Corporation Ac t ”) approved
I 'anuary
22, 1932, as amended and supplemented.
The income derived
i from the notes shall be subject to all Federal taxes, now or hereafter
imposed.
The notes shall be subject to estate, inheritance, gift or
I other excise taxes, whether Federal or State, but shall be exempt
I from all taxation now or hereafter imposed on the principal or
interest thereof by any Territory, dependency, or possession of the
1 (Jnited States, or by any State, county, municipality, or local taxing
I'authority.
These notes shall be lawful investments, and may be
h i accepted as security, for all fiduciary, trust, and public funds the
I investment or deposit of which shall be under the authority or
I control of the United States or any officer or officers thereof.
3.
The authorizing act provides that in the event the Recon
struction Finance Corporation shall be unable to pay upon demand, when
I due, the principal of or interest on notes issued by it, the Secretary
M of the Treasury shall pay the amount thereof, which is authorized to
I be appropriated, out of any moneys in the Treasury not otherwise
II appropriated, and thereupon to the extent of the amounts so paid the
■Secretary of the Treasury shall succeed to all the rights of the
ljj »holders of such notes.
4.
Bearer notes with interest coupons attached will be issued
| Jin denominations of $1 ,000, $5,000, $10 ,0 0 0 and $1 0 0 ,0 0 0.
||jfviill not be issued in registered form.
The notes
3
III. SUBSCRIPTION AND ALLOTMENT
1.
Subscriptions will be received at the Federal Reserve Banks
and Branches and at the Treasury Department, Washington.
Subscribers
must agree not to sell or otherwise dispose of their subscriptions, or
:he securities which may be allotted thereon, prior to the closing of
the subscription books.
Banking institutions generally may submit
subscriptions for account of customers, but only the Federal Reserve
Banks and the Treasury Department are authorized to act as official
agencies.
Others than banking institutions will not be permitted to
enter subscriptions except for their own account.
Subscriptions from
holders of Series N notes tendered for purchase should be accompanied
by such notes to a par amount equal to the par amount of notes of
Series W subscribed for.
Other subscriptions from banks and trust
companies for their own account will be received v/ithout deposit
hut will be restricted in each case to an amount- not exceeding onehalf of the combined capital and surplus of the subscribing bank or
trust company.
Other subscriptions from all others must be accompanied
py payment -of 10 percent of the amount of notes applied for«
2.
The Secretary of the Treasury reserves the right to reject
any subscription in whole or in part,
to allot lea« than the amount
of notes applied for, and to close the books as to any or all sub
scriptions at any time without notice; and any action he may take in
these respects shall be final.
Subject to these reservations,
sub-
(
script ions from holders of Series N notes who tender them for puchase
1
V
hereunder will be allotted in full.
Allotment notices will be sent
! out promptly upon allotment, and the basis of the allotment will be
publicly announced.
• - - TV*
1.
PAYMENT
Payment at par and accrued interest, if any, for notes allot
ted hereunder must be made or completed on or before July 3 , 1941, or
on later allotment.
In every case where payment is not so completed,
the payment with application up to 10 percent of the amount of note®
.applied for shall, upon declaration made by the Secretary of the
Treasury in his discretion, be forfeited to the United States.Notes-of
Series N tendered for purchase must have coupons dated July 20, 1941,
attached, and payment will be made at par and accrued interest to
July 3, 1941.
The principal .proceeds of the Series N notes will be
applied in payment of the Series W notes, and accrued interest from
January 20, 1941 to July 3, 1941 on Series N notes ($3*96409 per
$1 ,000) will be paid following acceptance of the notes.
V. GENERAL PROVISIONS
1,
As fiscal agents of the United States, Federal Reserve Banks
are authorized and requested to receive subscriptions,
to make allot
ments on the basis and up to the amounts indicated by the Secretary
Iof the Treasury to the Federal Reserve Banks of the respective
districts, to issue allotment notices, to receive payment for notes
¡Iallotted, to make delivery of notea on full-paid subscriptions
■ allotted, and they may issue interim receipts pending delivery of the
Idefinitive notes,
J
2.
The Secretary of the Treasury may at any time, or from time to
[time, prescribe supplemental or amendatory rules and regulations
<
•governing the offering, which will be communicated promptly to the
[Federal Reserve Banks,
HENRY MORGENTHAU, JR.,
Secretary of the Treasury,
TjRBASÜHY BSPAKTIISST
? m B1L3&SE, m w s i w SWSPAP ä BS,
fue8day, Juno 2h, 19bl.
6/ä57^*
........
Frece Service
*#• ^ Z —-7
/
file Secretary of the freatury announced last evening that the tendere
fer $100«000»ODO« er thereabouts, ef 91-day Treasury bilie, to be dated
toe
25
and to nature September 2 k , lÿ±l, which were offered on t o o 20,
were opened at the Federal Soserve Banks on t o e
23.
The detalle of this leene are as follones
Total applied for - $267,792.000
Total aecepted
- 100,063,000
Bange of accepted bides
High
how
Average Price
- 100.
- 99*978 Äquivalent rate approximately 0.037 percent
- 99*983
*
*
O.O66
*
(83 percent of the amount bid for at the low price was accepted)
TREASURY DEPARTMENT
Washing ton
Press Service
No. 26-7
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, June 24, 1941«
6/W41
The Secretary of the Treasury announced last evening that the
tenders for $100,000,000, or thereabouts, of 91-day Treasury bills,
to be dated June 25 and to mature September 24, 1941, vhich were
offered on June 20, were opened at the Federal Reserve Banks on
June 23.
The details of this issue are as follows:
Total applied for - $867,792,000
Total accepted
— 100,068,000
Range of accepted bids:
High - 100.
Low
- 99.978 Equivalent rate approximately 0.087 percent
0.066
"
average Prkce - 99*983
u
(88 percent of the amount bid for at the low price w as accepted)
oOo-
i
trkasurt bepaktmeht
Vachi.ngton
fo 8 m iM st, * m m m m taw a,
Wedaoeday. ¿«no 251 jftil*
6/24/43,
Press f T ? * *
*7^
Seeretary of thè Treaenxy Morgenthan eaaeoaeed laet «lfbt that thè
«nbeerlption booke for thè «arreni offerti* of 1 porosi «<*•• **
w
of thè Reconstruction Finance Corporation cloaed at thè cloee of buelness
ffceeday, «Tono 24f except for thè reeelpt of eabeertptione fro» holdere of
Serleo 11 noie» of thè Corporation «ho tender thè« for jmrehaae by thè Secre
tar? in a par aaount equal to thè par aaount of note« of Serie« W «obacrlbed
for«
The eubecrtption hook« « H I ho «leeed for thè reeelpt of «ubecrtptlone
of thè 3atter elaee at thè d o t e of boline«« Wedneaday* Jone 25* at «toloh
ti»# thè offer to parohaao Serio« M noto« of th« Corporation «ili t e m i » t e .
Subecriptions of eithor ola«« eddreeeed to a Foderai Beeerve Bank
or Staili* or to thè Treaeory Departaent, and pl&ced In thè «all before
12 o* clock sddalght of thè reepeotlre oloeing day^will be ooneidered a«
h adng been entered before thè eleeo of thè «ubeeription hook».
Annoonoement of tho aaount of eabeorlptlone and tho beale of
allot«ftst «111 probably bo «ade thè afteraeen of Friday* fune 27.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday, June 25, 1941
___
PRESS SERVICE
NO. 26-8
S 7 W Ï T
Secretary of the Treasury Morgenthau announced last night
that the subscription books for the current offering of 1 par
cent notes of Series W of the Reconstruction Finance Corporation
closed at the close of business Tuesday, June 24, except for the
receipt of subscriptions from holders of Series N notes of the
Corporation who tender them for purchase by the Secretary in
a par amount equal to the par amount of notes of Series W sub
scribed for.
The subscription books will be closed for the
receipt of subscriptions of the latter class at the close of
business Wednesday, June 25, at which time the offer to purchase
Series N notes of the Corporation will terminate.
Subscriptions of either class addressed to a Federal Reserve
Bank or Branch, or to the Treasury Department, and placed in the
mail before 12 o Tclock midnight of the respective closing days,
will be considered as having been entered before the close of
the subscription books.
Announcement of the amount of subscriptions and the basis of
allotment will probably be made the afternoon of Friday, June 27.
ooOoo
TREASURY DEUARKSHT
Washington
for immediaterelease
Press Earrioo
Ho. ¿ U p f
2rs«sli]
of ths Union of Soviet Soolalist Republics and its
license without requirement of the formal assurances
which haws been requested of European neutral nations
affected by the freealng crisp«
At the tl»s the freezing order m s extended to all
of continental Europe» the ’’resident announced that it
was intended through the medium of general liceneee to
from the Governments of sueh countries that the general
licenses would not be employed by sueh countriee or their
nationals to evade the purposes of the freealng order*
Reseat event« concerning the Union of Soviet Socialist
Republics have mads sueh assurances unnecessary.
*AA
TREASURY DEPARTMENT
Washington
Press Service
No,26-9
FOR IMMEDIATE RELEASE,
Tuesday, June 24, 1941.
A general license under the ^freezing control order was issued
today with respect to transactions of the Union of Soviet Socialist
Republics and its nationals..
The State Department requested, and
the Treasury Department and the Department of Justice approved, the
issuance of the license without requirement of the formal assurances
which have been requested of European neutral nations affected by
the freezing order.
At the time the freezing* order was extended to all of contin
ental Europe, the President announced that |t was intended through
the medium of general license
countries and their nationals.
zo 13.cilitate
transactions of certain
Issuance of such licenses was to be
conditional upon the receipt of adequate assurance from the Govern
ments -of such countries that the general licenses would not be
emnloved
bv
such countries or their nationals to evade the purpxrs-es
i. V
V
of the freezing order.
Recent events concerning the Union of
Soviet Socialist Republics have made such assurances unnecessary.
-OoO-
TREASURY' DEPARTMENT
Office of the Secretary
June g 4 # 1941»
GENERAL LICENSE NO. 51
UNDER EXECUTIVE ORDER NO. 8389, APRIL
10, 1940, AS AMENDED, AND REGULATIONS
ISSUED PURSUANT THERETO, RELATING TO
TRANSACTIONS IN FOREIGN EXCHANGE, ETC.*
(1)
A general license is hereby granted licensing
the Union of Soviet Socialist Republics as a generally
licensed country.
(2)
As used in this general license:
Any foreign country licensed as a ^generally
licensed country”, and nationals thereof,
shall be regarded for all purposes as if
such foreign country were not a foreign
country designated in the Order.
E. H, FOLEY, JR,
Acting Secretary of the Treasury.
* Part 131; - Sec. 6(b), 40’ ¿■tat.,’ 4i5 and §66; Sec. 2, 48
Slat. 1; 54 Stat. 179; Ex. Order 8339, April 10, 1940,
as amended by Ex. Order 8785, June 14, 1941; Regulations 1
April 10, 1940, as amended June 14, 1941.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday, June 26,-1941«
6/25/41
Press Service
N o #,26-10
Dr. Ernest Martin Hopkins, president of Dartmouth College,
today urged parents of ”teen-aged” children to buy Defense Savings
Bonds as an ’’educational sinking fund.1'
"The Defense Savings campaign’* he told Secretary Morgenthau
’’should be of particular interest to these parents for, by register«?
ing bonds in the names of their sons and daughters, they can assure
for them a college education later on.”
Dr. Hopkins, who celebrated his 25th anniversary as president
of Dartmouth at commencement exercises in Hanover, N.H.,
week, is now in Washington as Executive of the Minerals and Metals
branch of the Priorities Division of the Office of Production
Management*’’Because of our tremendous war production,” he said, ’’the
national Income is jumping rapidly.
It seems clear to me that it
is the part of individual intelligence as well as of national duty
to begin saving now and to seek the safest possible investment of
the savings.
Defense Savings Bonds and Stamps offer all of us the
opportunity to do this*
”If I were asked for advice I would urge all colle ge graduate s
to buy these Bonds and stamps regularly*”
-OoO
TREASURY DEPARTMENT
' Washington
Press Service
FOR IMMEDIATE RELEASE-
1 w
June 25, 19£U
>'
*genthau|
-announced the appointment of Palmer Hoyt,//!niblisher
of the PORTLAND OREGONIAN, as State Chair5iam-of^§&Tdtional
Defense Savings
CO- r» -ip
Sf* *
Mr* Hoyt*s duties will include cooperation with the
Department in stimulating
leim
,^)6LAJWN C^O
the sale of Defens^^onSs and Stamps through establishment of
representative non-partisan local committees to develop community
interest^ in the program*
TREASURY DEPARTMENT
Washington
Press Service
No. 2 6 - U
FOR IMMEDIATE RELEASE,
Wednesday, June 2b« 19*11»
Secretary Morgenthau today announced the appointment of
Palmer Hoyt, publisher of the Portland Oregonian,
as State
Chairman for Oregon of the National Defense Savings campaign.
Mr, H o y t ’s duties will include co-operation with the Treasury
Department in stimulating the sale of Defense Savings Bonds and
Stamps through establishment of representative non-partisan local
committees to develop community interest in the program.
—oOo—
TREASURY DEPARTMENT
Washington
POR I M M E D I A T E RELEASE,
W e d n e s d a y , June 25, 1941*
---- «W11— — — ‘
Press Service
No. 2 6 -l£— /
The Bureau of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the Presidents
proclamation of the Inter-American Coffee Agreement on April 15, 1941.
The following tabulation lists the coffee quotas which have been
filled, and shows import figures for the quotas now under telegraphic
control as of June 21, 1941.
Total imports under the other coffee
quotas are shown as of June 14, 194-1*
Quota Period
s Revised l/~
Country of Production : Quota (lbs,)
: Entered fo r Consumption
: As o f (Date) i
Pounds
Quota Period - 12 months
from October 1, 194-0 î
Brazil
Cuba
El Salvador
Honduras
Mexico
Nicaragua
(Import quota filled)
It
It
H
«
16,138,333
71,930,208
$6,484,233
Dominican Republic
Guatemala
Venezuela
1,250,722,887
..10,758,933
80,691,799
Colombia
Costa Rica
Ecuador
Haiti
Peru
It
June 14, 1941
"
"
2 ,689,700
63,880,975
26,224,775
"
"
423,632,012
26,897,267
20,173,016
36,983,708
3,362,191
June 21
"
"
"
”
Non-signatory countries:
All types of coffee
Quota Period - April 22 to
August 31, 1941, incl:
Non-signatory countries:
Mocha coffee
"
1941
47,742,641
June 21, 1941
2,645,520
June 21, 1941
It
It
1,145,891,748
5,269,632
61,795,687
1,503,074
57,456,368
17,376,127
408,715,625
25 ,762,601
18,317,163
36,487,962
2,947,165
45,953,019 2/
855,898 2/
l/Quotas increased by Inter—American Coffee Board, as of June 1, 1941
2/Under the terms of an Executive order, effective June 14, 1941, the
increased import quota for non—signatory countries is subject to the
allocation of a maximum of 20,000 bags for coffee of the Mocha type
which may be entered for consumption from April 21 to August 31, 1V41,
inclusive.
-¿> 6 » 'rr-r— 1 tes ttj gunsan:':tt»»tems)----
;
rtce
■p
'i
s for
[I
TREASURY DEPARTMENT
Washington
Press Service
No, 26-12
FOR IMMEDIATE RELEASE
W edne sday, June 25, 1941.
The Bureau, of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the President’s
proclamation of the Inter-American Coffee Agreement on April 15,1941.
lave been
The following tabulation lists the coffee quotas which have been
Legraphic
filled, and shows import figures for the quotas now under telegraphic
coffee
control as of June 21, 1041.
quotas are shown as of June 14,1941._ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ .
iption_
Pounds
iota filled
«
Total imports under the other' coffee
»
Quota Period
: Revised 1/
Country of Production; Quota (lbs.)
Quota Period - 12 months
from October 1,1940:
Dominican Republic
Guatemala
Venezuela
Entered for Consumption
: As of (Date)____ ;
Pounds
î
(import quota filled)
ii
11
11
11
ti
11
16,138,333
71,950,208
5 6 ,4 8 4 .,2 3 3
Brazil
Cuba
El Salvador
Honduras
Mexico
Nicaragua
1,250,722,887
10,758,933
80,691,799
2,689,700
63,880,975
26,224, 775
June 14,1941
it
it
Colombia
Costa Rica
Ecuador
Haiti
Peru
423,632,012
26,897,267
20,173,016
36,983,708
3,362,191
June 21,1941
it
47,742,641
June 21,1941
45,953,019 2/
Quota Period -- April 22 to
August 31, 1941, incl:
Non-signatory countries :
2,645.520
Mocha coffee
June 21,1911
855.898 2/
Non-signatory countries :
All types of coffee
11
it
it
11
it
it
1,145,891,748
5,269,632
61,795,687
1,503,074
57,456,368
17,376,127
408,715,625
25,762,601
18,317,163
36,487,962
2,947,165
1/ Quotas increased by Inter-American Coffee Board,as of June 1,1941.
2/ Under the terms of an Executive order, effective June 14, 1941, theincreased import quota for non-signatory countries is subject to v
the allocation of a maximum of 20,000 bags for coffee of the Mocha
type which may be entered for consumption from April 21 to
August 31, 1941, inclusive.
-o0o~
According to counsel for the Treasury, the decision in the
Port Authority case should settle the question whether a Con
stitutional amendment is necessary to authorise Congre»a to tax
incone derived fron State and municipal honda.
m m t m
m m m m
Washington
Press Release
lo* Q k - t ^
The Bureau of Internal Eevenue today filed its answer to
the petition of the Port of Mew fork Author ity in the test ease
intended ultimately to prove in the courts that the Federal
Oovernmmt has the right under the Constitution to tax the income
from S;ate and municipal securities.
The answer came within three
weeks sfter a taxpayer had disputed this contention before the
Boar* of Tax Appeals#
The Bureau1s first step was taken on March 14, 1941, when
voices of deficiency were sent to seven bondholders of the Fort
&thority who had not included interest from their bonds in their
tax returns filed on March IS# 1938.
Six of the seven bondholders paid the deficiency in tax claimed
by the Treasury Department.
The seventh# Alexander J. Shamberg# a
Commissioner of the Fort of lew fork Authority, filed his appeal
on June S# 1941«
In Its answer# the Treasury maintains its position that public
corporati n > like the Fort of Sew fork Authority are neither States,
territories# nor Apolitical subdivision«**, and that# therefore# the
interest from their securities is subject to the federal income tax
under the Internal Revenue Code, and denies Commissioner Shamberg’s
assertion that the interest on hi® bonds Is exempt»
TREASURY DEPARTMENT
Washington
Press Release
No. 26-13
FOR IMMEDIATE RELEASE
Wednesday, June 25, 1941
The Bureau of Internal Revenue today filed its answer to
the petition
of the Port of New York Authority in the test
X.
case intended ultimately to prove in the courts that the Federal
Government has the right under the Constitution to tax the in
come from State and municipal securities.
Tne answer came
within three weeks after a taxpayer had disputed this conten
tion before the Board of Tax Appeals.
The Bureau’s first step was taken on March 14, 1941, when
notices of deficiency were sent to seven bondholders of the
port Authority who had not induced interest from tneir bonds
in their tax returns filed on March 15, 1938,
Six of the seven bondholders paid the deficiency in tax
claimed by the Treasury Department.
The seventh, Alexander J.
Shamberg, a Commissioner of the Port oi New York Authority,
filed his appeal on June 5, 1941.
In its answer, the Treasury maintains its position that
public corporations like the Port of New Pork Authority are
neither States, territories, nor "political subdivisions , and
that, therefore, the interest from their securities is suoject
to the Federal income tax under the Internal Revenue Code, and
. denies Commissioner Shamberg’s assertion that the interest on
his bonds is exempt.
- 2 -
According to counsel for the Treasury, the decision in the
Port Authority case should settle the question whether a Con
stitutional amendment is necessary to authorize Congress to tax
income derived from State and municipal bonds.
tsastk
-----------------
-
2
-
Reserve Banks and Branches, following which public announcement will he made by
the Secretary of the Treasury of the amount and price range of accepted bids.
Those submitting tenders will be advised of the acceptance or rejection thereof.
The Secretary of the Treasury expressly reserves the right to accept or reject
any or all tenders, in whole or in part, and his action in any such respect
shall be final.
Payment of accepted tenders at the prices offered must be made
or completed at the Federal Reserve Bank in cash or other immediately available.
funds on
Ju ly 2. lqUl
(*ix
The income derived from Treasury bills, whether interest or gain from
the sale or other disposition of the bills, shall not have any exemption, as
such, and loss from the sale or other disposition of Treasury bills shall not
have any special treatment, as such, under Federal tax Acts now or hereafter
enacted.
The bills shall be subject to estate, inheritance, gift, or other
excise taxes, whether Federal or State, but shall be exempt from all taxation
now or hereafter imposed on the principal or interest thereof by any State, or
any of the possessions of the United States, or by any local taxing authority.
For purposes of taxation the amount of discount at which Treasury bills are
originally sold by the United States shall be considered to be interest.
Treasury Department Circular Ho. 418, as amended, and this notice, Pre’
scribe the terms of the Treasury bills and govern the conditions of their issue.
Copies of the circular may be obtained from any Federal Reserve Bank or Branch.
a 0<3 —
xmmx
TREASURY DEPARTMENT
>!
ashington
EOR/RELEASE', ’ MORNING- NEWSPA?Sä$^
TVidav. June 27.
*&!, j**\ Jr
fcThe Secretary of the treasury, by thi^public notice, invites tenders
IfS i'
;
fnr St> 100.000.000
--------
, or thereabouts, of
*5
/ 9-tf~daY Treasury bills, to be issued
B S y .
on a discount basis under competitive bidding;
be dated
July 2. 19^1
S S
, and will mature
The bills of this series will
October I t l.Sfel.
xabx
when the face amount will be payable without interest.
I¡¡iff1)
They will be issued m
W.
bearer form only, and in denominations of *1,000, $5,000, $10,000, $100,000,
$500,000, and $1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and Branches up to i|l
closing hour, two o'clock p.
Eastern Standard timo, JMonday, June 30, ^
Tenders will not be received at the Treasury Department, Washington.
Each tender
must be for an even multiple of $1,000, and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
Fractions;
It is urged that tenders be made on the printed forms and for
¡Ile ni
warded in the special envelopes which will be supplied by Federal Reserve Banks
ilSc
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and
lliiinc •
trust companies and from responsible and recognized dealers in investment securi
ties.
Tenders from others must be accompanied by payment of 10 percent of the
face amount of Treasury bills applied for, unless the tenders are accompanied by
an express guaranty of payment by an incorporated bank or trust company.
Immediately after the closing hour, tenders will be opened at the Federajj
felly*
,
PvtSI
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
___
Friday, June 27, 1941.
The Secretary of the Treasury, by this public notice, invites
itestente
tenders for $100,000,000, or thereabouts, of 91-day Treasury bills,
tobeissi
to be issued on a discount basis under competitive bidding.
The
eriesvili
bills of this series will be dated July 2, 1941, and will mature
October 1, 1941, when the face amount will be payable without
ie issued ii
interest.
$100,000,
They will be issued in bearer form only, and in
denominations of $1,000, $5,000, $10,000, $100,000, $500,000, and
Ijk
anches ® Ü !i
$1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and Branches
n, BachW
up to the closing hour, two o ’clock p. m . , Eastern Standard time,
l)eexpress
Monday, June 30, 1941.
925. te|||
Treasury Department, Washington.
forms I';
Besen**1 H
Tenders will not be received at the
Each tender must be for an even
multiple of $1,000, and the price offered must be expressed on the
basis of 100, with not more than three decimals, e. g., 99.925.
Fractions may not be used.
It is urged that tenders be made on the
tedta*s’j
printed forms and forwarded in the special envelopes which will be
ercentof| I
supplied by Federal Reserve Banks or Branches on application therefor
aceoäP*“! I
omp^.
11
>-14
- 2 -
Tenders will be received without deposit from incorporated
banks and trust companies and from responsible and recognized
dealers in investment securities.
Tenders from others must be
accompanied by payment of 10 percent of the face amount of
Treasury bills applied for, unless the tenders are accompanied by
an express guaranty of payment by an incorporated bank or trust
company.
Immediately after the closing hour, tenders will be opened
at the Federal Reserve Banks and Branches, following which public
announcement will be made by the Secretary of tne Treasury oi the
amount and price range of accepted bids.
Those submitting tenders
will be advised of the acceptance or rejection thereof.
The
Secretary of the Treasury expressly reserves the right to accept
or reiect anv or all tenders, in whole, or in part, and his action
\
in any such respect shall be final.
Payment of accepted tenners
I at the prices offered, must be made or completed at the federal
I Reserve Bank in cash or other immediately available funds on
I July 2, 1941.
The income derived from Treasury bills, whether interest or
, gain from the sale or other disposition of the bills, shall not
1 have any exemptions, as such, and loss from the sale or other
I disposition of Treasury bills shall not have any special treatment
- 3 as such, under Federal tax Acts no'w or herca fter enacted.
The
bills shall be subject to estate, inheritanc e, gift, or other
excise taxes, whether Federal or State, but shall be exemrt from
all taxation now or hereafter imposed on the principal or interest
thereof by any State, or any of the possessions of the United
States, or by any local taxing authority.
For purposes of
taxation the amount of discount at which Treasury
J.D di
originally sold by the United States shall be considered to be
interest.
Treasury Department Circular No. 418, as amended, and this
notice,* prescribe the terms of the Treasuryt/ bills and ogovern the
conditions of their issue.
Copies of the circular may be obtained
from any Federal Reserve Bank or Branch.
-0O0 -
TREASURY DEPARTMENT
Washington
Press Service
FOR IMMEDIATE RELEASE,
/.
'ItM
2.w-
June 26, 1 9 £ U
Sa le s o f Defense Savings Bonds during the three
w eeS^^ ^^^ ^Jun e 21 totaled $185*790,000, Secretary Morgenthau
reported today*
In addition , $2,125,000 worth o f Defense
Savings Stamps were s o ld .
-r— rfor^u^jL ( " f e l l , C^JLxaIv^ )
The report/is made up o f the follow ing item s, with
figu res rounded to even thousands:
S eries E Bonds
$ 70,899,000
S eries F Bonds
15,967,000
Se rie s G Bonds
98«924-000
Total Bond Sales (June 1-21 in c l* ) $185,790,000
Sale o f the Series E Bonds was divided as follow s
between banks and post o ffic e s :
Banks
$41,627,000
Post O ffice s
$29,272,000
-oOo-
!
TREASURY DEPARTMENT
Washington
for i m m e d i a t e
Press Service
No. 26-15
release,
Thursday, June 26, 1941.
Sales of Defense Savings Bonds during the three weeks
ended June 21 totaled $185,790,000,
reported today.
Secretary Morgenthau
In addition, $2,125,000 worth of Defense
| Savings Stamps were sold.
The report for June 1 to 21,
inclusive, is made up of the
£ following items, with figures rounded to even thousands:
Series E Bonds
$ 70,899,000
Series F Bonds
15,967,000
Series G Bonds
98,924,000
Total Bond Sales (June 1-21
i n c l .)
$185,790,000
Sale of the Series E Bonds was divided as follows beItween banks and post offices:
I
Banks
$41,627,000
Post Offices
$29,272,000
-oOoI
thsasühi dspaiiXMISw
:
X
V
Washington
for o m e d i a t s
msAss,
Proas Service
.gt.cí¿¿ — | (¿?
Secretar? of the Treasury tóorgenfchau today announced tho subacription
figures and the basia of allotiaent for the offerlng of 1 percant sotes of
Serles V of the Reeonstruetion Finance Corporation*
Reporta resolved fros tho Federal Reserve Banks show that subacription«
aggregato $51277*000,000.
Of this total* about #210*000*000 eere recelved
froa hoXders of Series I notes of the Corporation «he t«aderad a like par
aaount of seoh notes to tho Secretar? for perchase.
Such subacription«
«are allottsd in fuli* and al! other subscriptions wsre allottsd
porcent, but not loas th&n #1*000 m any oas subsoription.
Flirther dotails ss to «nbssrtptloiis and allotnsnts «111 bo announced
when final reporta aro resolved fren the Federal Reserve Banks.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, June 27, 1941.
Press Service
No. 26-16
Secretary of the Treasury Morgenthau today announced the
subscription figures and the basis of allotment for the offering
of 1 X
percent notes of Series W of the Reconstruction Finance
Corporation.
Reports received from the Federal Reserve Banks show that
subscriptions aggregate $5,277,000,000.
Of this total, about
$210,000,000 were received from holders of Series N notes of the
Corporation who tendered a like par amount of such notes to the
Secretary for purchase.
Such subscriptions were allotted in full,
and all other subscriptions were allotted 7 percent, but not less
than $1,000 on any one subscription.
Further details as to subscriptions and allotments will be
announced when final reports are received from the Federal Reserve
Banks.
-oOo-
HM
’
m
IBP
f r e a - l Ü!
f k ji m
i) £ h e ^ h - A ^ M s
'g# thr «frftegertiaib » ■m6rte
•
£<4
/
a
c c err
/
%
K - ûô">' / S
*> K
told I t a t f l M N r d M ' e w i ^ ^ .eonneetion with hi« 1936 ino©®«
tum*
the recoils of the Bureau of Internal Bowes«»
vítófei
»how
m m Ä* %mas A
thatNbhs Mown
respect to any tax«« other than
the«« for 1939** ill dealing« with B a r Ä w , irfso far a« hi« 1939 return
wer» concerned^ were conducted lay correspondence and Bm A h b u ha« been
advised there 1« no question concerning his 1939 tax Habilitar*
tw
(XJltju^<rrv
1940 income tax^tto* ie new being audited by the
Bureau as a natter of ordina ly routine*
¿dpeef
The Treasury Department is without any information with respect
(\r.
'$
to anj of tlm»
Aallegations madr that an attorney in the Department
told (Durftrmi he owed $100,000 in connection with his 1936 income
taxes«
The records of the Bureau of Internal Revenue fail to show
that the Bureau ««baefced;<M m
those for 1939#
u
with respect to any taxes other than
All dealings with
in so far as his 1939 return
were concerned were conducted by correspondence and Barl^ty/has been
advised there is no question concerning his 1939 tax liability«
With respect to the 1940 income tax, this is now being audited by the
Bureau as a matter of ordinary routine
In a statement,before the Senate Judiciary Subcommittee
■
8 H
/? <j&
-~ ■
considering the nomination of Attorney General Jackson as^Supreme"
Court
Lester P. Barlow opposed confipd£tion of the
nomination on the ground that Jackson had issued a ruling holding
up payment of a $300,000 claim .to him/6id that this ruling makes
every single Government contract^piroyept^to extortion.
Mr. Barlow
said that he had been subjeptfito blackmail and,extortion in tiying
to get his money and^he inf erred that the Treasury ha d h e e n using
its tax—collecting ffsi irrt'Xuu machinery to harass him and delay
lyment of mdneys which he claimed justly due him.
-ffeetrs dirriotr-bear.out.Mr...„Barlowfo ataLeuimrt"— Thoy1
’are
foUoSfbr
On September 6, 194-0, a bill was enacted providing
for the payment of approximately $$92,000 to Mr. Barlow in satis
faction of his claim against the United States for infringement
'Oh
of a patent on a W n b which he had invented many years ago.
Three
days later, on September 9> before the money appropriated by the
bill could be paid to Mr. Barlow, papers were served upon Treasury
officials in an action which John F. Clark, a Los Angeles lawyer,
cky..
had that day brought in the District Court £aa»> the District of
A
Columbia against Mr. Barlow, the Secretary of the Treasuiy, and
All-', CIoaM
the Treasurer of the United States. The purpose of t i w suit v/as
A
to recover half of the money appropriated to Mr. BarlowX\ Mr. Clark
|
claimed that about 25 years ago he and Mr. Barlow en£eap€d into a
contingent legal fee arrangement in connection with the invention.
+o
K
/nji
li i
.
Ctf Ama»
( \
l
-3
7X1
-
2
-
Mr. Barlow, on the other hand, claimed that he had settled with
Mr. Clark in 1924. for the sum of $12,000.
DepartmentvÇiolding moneys
This left the Treasury
v-rg™^ claimed by two persons,^r—
situation-in.,which the-Department. not.f-nfreciuently findo itccif »
On at least twro occasions where the Treasury found itself in this
situation and paid one of two rival claimants while litigation
was pending, the other claimant went to the Supreme Court of the
United States and compelled the Department to pay him as well.
In view of these rirmm~tnnrrnj n t ip thr
fg ...
M
, the
the Treasury
Treasury in-mai
in me 11en 1"P
p”**-
ù
Àmm 1j 4AA* W
CXm
CURAS'
r^ort”whoro rirai elaiwantg
KAJiL*Cf
"reiy un bbi
-HLcL^u.
J judgment of trfe courts inp ■ rlifiifnrmi ni
rightful ownership^.. . ■
^ i u - h s
,
Y<^i
The Clark-Barlow case is still being litigated and the Treasury
Department, while it has paid half of the sum appropriated to
ii
iirBKii'rn■.
J
Mr. Barlow ^pursuant to court order,\ i ^holding up
payment
of the other half until final judicial determination of the
matter.. The Treasury Department has kept in close touch with
the Department of Justice in connection with each step taken,
as is its custom in such matters.
The X&e«inxjgc
¿jl.es indicate that
participated in, the consideration of
U. J
i
S e c r e t a r y M o r g e n t h a u t o d a y m a d e p u blic the
T r e a s u r y ’s reco r d w i t h r e s p e c t to the $ 3 0 0 , 0 0 0 c l a i m
®g®&aefecfcdi0 eGozezemenfc of Lester P. Barlow,
a g a i n s t the U n i t e d States.
investor,
The S e c r e t a r y said that the
facts t h m zeafczon&zdid in th e c a s e do not b e a r out the
t e s t i m o n y of Mr.
B a r l o w this a f t e r n o o n before t h e S e n a t e
J u d i c i a r y S u b c o m m i t t e e c o n s i d e r i n g the n o m i n a t i o n o f
A t t o r n e y G e n e r a l J a c k s o n to be an A s s o c i a t e J u s t i c e of
t he U n i t e d S t ates S u p r e m e Court.
The record in the Barlow case is as follows
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, June 27, 1941
Press Service
No. 26-17
Secretary Morgenth.au today made public the Treasury’s
record with respect to the $300,000 claim of Lester P. Barlow,
inventor, against the United States.
the facts in the case
The Secretary said that
do not bear out the testimony of
Mr. Barlow this afternoon before the Senate Judiciary Sub
committee considering the nomination of Attorney General
Jackson to be an Associate Justice of the United States
Supreme Court.
The record in the Barlow case is as follows:
On Sep
tember 6, 1940, a bill was enacted providing for the payment
of approximately $592,000 to Mr. Barlow in satisfaction of
his claim against the United States for infringement of
a patent on a bomb which he had invented many years ago.
Three days later, on September 9, before the money appro
priated by the bill could be paid to M r • Barlow, papers
were served upon Treasury officials in an action which
John F. Clark, a Los Angeles lawyer, had that day brought
in the Federal District Court for the District of Columbia
against Mr. Barlow, the Secretary of the Treasury, and the
Treasurer of the United States.
The purpose of Mr. Clark’s
- 2 -
suit was to recover half of the money appropriated to
Mr* Barlow and to prevent the Treasury from making payment
to Barlow pending a court decision in the matter.
Mr# Clark
claimed that about 25 years ago he and Mr, Barlow entered
into a contingent legal fee arrangement in connection with
the invention.
Mr. Barlow, on the other hand, claimed that
he had settled with Mr. Clark in 1924 for the sum of $12,000.
This left the Treasury Department a disinterested stake
holder holding moneys claimed by two persons.
On at least
two occasions where.the Treasury found itself in this situ
ation and-paid one of two rival claimants while litigation
was pending, the other claimant went to the Supreme Court of
the United States and compelled the Department to pay him
as well.
In view of these circumstances, the Treasury De
partment and the.Department of Justice, in order to protect
the interest of the Government as well as those of the
rival claimant., -many years ago adopted the policy of with
holding payment pending the judgment of the courts as to
the rightful ownership.
The Clark-Barlow case is still
being litigated and the Treasury Department, while it has
paid half of the sum appropriated to Mr. Barlow, is, pur
suant to court order, holding up payment of the other half
- 3 until final judicial determination of the matter.
The
Treasury Department has kept in close touch with the Depart
ment of Justice in connection with each step taken, as is its
custom in such matters.
No Treasury attorney, according to the Department’s
records, told Barlow that the inventor owed $100,000 in con
nection with his 1936 income taxes.
The records of the Bureau
of Internal Revenue show that he was not visited by an agent
with respect to any taxes other than those for 1939 and 1940.
All dealings with Barlow, insofar as his 1939 return was con
cerned, were conducted by correspondence and Barlow has been
advised there is no question concerning his 1939 tax liability.
His 1940 income tax return is now being audited by the Bureau
as a matter of ordinary routine.
-oOo
Date
Submitted
PRESS SECTION
DEFENSE Sa VIN&S STü FF
REWSPxuPER r e l e a s e
Mr . Scbwar z:
attached flrlfìflfrfì OP
°f "Treasnn
«« CBS
*rs/*1 program,
. ____ _ July O
^»/MÏ1 T
>Vi*î"I fi ■f'ûO'l’U
Hour”
2, *P
from
Phila.feati
For R elease
ing Liberty Bell r i n g i r a A ^ *
1/
Approved
Vincent F . Callahan
>A
T im e i/ _V j3 a te .
ËTu^Sloan
H arford Powel
Date
Submitted
June 27* 19411
I
PRESS SECTION
DEFENSE Sa VIHGS STAFF
j
NEWSPAPER RELEASE
Mr. Schwarz:
J
Acceptance of Gov, Ned
attached release:of W, Va, as Hon, Chm
For Release Immediate________________ I
/ \ k i ~
Vincent F . Callahan
/
L l\t
/a ^ > D a t e . w ? )
/v1
E. W. Sloan
Harford Powel
f
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, June 27, 1941
Press Service
. ^ T h e "Spirit of 1776” and 1941 will blend as one ne)(t Wednesday
n i g h t ^ t o # # ^ when the famous old Liberty Bell wttfe rings out again from
Independence Hall in Philadelphia —
for all the world to hear*
This time the bell will ring for National Defense.
It will
be one of the features of the first ’’Treasury Hour - Millions for
Defense” program aired by the Columbia Broadcasting System, from 9:00
to 10:00 P.M., EDST., Wednesday night. The program, to be carried
A & & F ***'t
thiB«*4«c for the^aea-t thirteen weeks, will promote the sales of Defense
Savings Bonds and Stamps.
Secretary
M o r g e n t h a u M g y will dedicate
the program and Mayor R. E. Lambertson^ of Philadelphia^ will strike the
Liberty Bell.
The premiere of ’’Treasury Hour - Millions for Defense”
will bring to the network audience an all-star array of many of Holly
wood and Broadway’s greatest names»all in behalf of the nation’s Defense
^
Savings Program.
Fred Allen will be ’*©»©««” for the initial program, which
will include Barry Wood, who will sing Irving Berlin’s new song ’’Any
Bonds Today”5 Grace Moore$ A1 Goodman’s 25-piece orchestra/ Mickey
Rooney and Judy Garland; and the entire ’’Information Please”
Clifton Fadiman, Oscar Levant, John Hieran and Franklin P. Adams.
The
closing feature will come from Hollywood with Charles Laughton giving
his reading of Lincoln’s ’’Gettysburg Address” —
anniversary of the battle.
oOo -
significantly on the
T
Secretary Morgenthau announced
that Governor Matthew
M # Neely^of West Virginia has accepted the Honorary Chairmanship of
for organization of the National Defense Savings campaign*
(3?his~brings to nineteen the number of Governors serving in
the campaign^
a,■11 ftAuat PlfflMg c a B a a 'i iia t A U mi*» »
raelec±ed.-.£o the Hnit^d States Senate in
1-936 for the term
seat in the Senate
ipon being ^§o±edfiGovS*nor of West Virginia for the^term beginning
i m r y l 3 y 1940,
The T r e a s u r y a l s o a n n o u n c e d d e t a i l s o f
t h e first p r o g r a m o f " T r e a s u r y H o u r — M i l l i o n s for
D e f e n s e , ” w h i c h w i l l he b r o a d c a s t over the C o l u m b i a
Wednesday
n e t w o r k f r o m 8 to 9 p . m . , E.S.T.,
evening.
S e c r e t a r y M o r g e n t h a u w i l l speak, M a y o r
R. E. L a m b e r t s o n of P h i l a d e l p h i a w i l l r i n g the
Liberty Bell, w i t h a microphone
p i c k i n g up t h e
tones for b r o a d c a s t o v e r t h e n a t i o n , a n d some
of
the n a t i o n ’s fo r e m o s t e n t e r t a i n e r s w i l l p r e sent
a v a r i e t y program.
Fred Allen, master
of c e r e monies;
B a r r y W o od, w b o w i l l
sing I r v i n g B e r l i n ’s "An y B o n d s Today?";
Judy G a r l a n d , C l i f t o n F a d i m a n ,
K i e r a n , a nd F r a n k l i n
M i c k e y Ro o n e y ,
O s c a r Levant,
John
P. A d a m s o f " I n f o r m s t i o n , Pl e a s e "
and C h a r l e s Lau g h t o n , w b o w i l l read L i n c o l n ’s G e t t y s b u r g
Address.
The T r e a s u r y Hou r w i l l be b r o a d c a s t
W e d n e s d a y e v e n i n g for t h i r t e e n w e e k s .
each
q
TREASURY DEPARTMENT
Washington
Press Service
No, 26-18
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, June 29, 1941,
6/28/41
An Array P-39 interceptor pursuit plane,
the only s i n g l e - m o t o r e d c r aft of
its type m o u n t i n g a
3 7 - m m ^ s h e l I - f i r i n g cannon, w i l l b e
YHHtaB p l a c e d o n d i s p l a y near the T r e a s u r y t h i s w e e k to
stimulate the
sale of D e f e n s e S a v i n g s Bonds
fefrfii
and S t a m p s #
inti
The s p eedy A i r a c o b r a w i l l be o p e n t o
i n s p e c t i o n by the C a p i t a l ’s r e s i dents
P e n n s y l v a n i a a v e n u e and 1 4 t h street,
and v i s i t o r s at
a l o n g w i t h other
a r m a m e n t s b e i n g m a n u f a c t u r e d for the U n i t e d S t ates
G r e a t Britain,
and
P r ice tags o n eac h w e a p o n w i l l s h o w
the d i r e c t r e l a t i o n s h i p b e t w e e n p u r c h a s e s of Bonds snd
Stamps and
ib
t i o n a l defense#
TREASURY DEPARTMENT
Washington
FOR RELEASE, HORNING NEWSPAPERS
Sunday, June 29, 1941.____ _ _
Press Service
^°* 26-18
An Army P-39 interceptor pursuit plane, the only single
motored craft of its type mounting a 37-mm shell-firing
cannon, will be placed on display near the Treasury this
week to stimulate the sale of Defense Savings Bonds and
Stamps.
The speedy Airacobra will be open to inspection by the
Capital’s residents and visitors at Pennsylvania avenue and
14th street, along with other armaments being manufactured
for the United States and Great Britain.
Price tags on
each weapon will show the direct relationship between pur
chases of Bonds and Stamps and National Defense.
Secretary Morgenthau announced that Governor Matthew
M. Neely of lest Virginia has accepted the Honorary Chair
manship of his state’s committee for organization of the
National Defense Savings campaign.
This brings to nineteen
the number of Governors serving in the campaign.
The Treasury also announced details of the first pro
gram of ’’Treasury Hour -- Millions for Defense,” which will
be broadcast over the Columbia network from 8 to 9 p.m.,
E.S.T., Wednesday evening.
Secretary Morgenthau will speak
n
Cj
Mayor R. S. Lambertson of Philadelphia will ring the Liberty
Bell with, a microphone picking up the tones for broadcast
over the nation and some of the nation’s foremost enter
tainers will present a variety program.
The cast for the initial hour will include Fred Allen,
master of ceremonies; Barry Wood, who will sing Irving
Berlin’s ’’Any Bonds Today?”; Mickey Rooney, Judy Garland,
Clifton Fadiman, Oscar Levant, John Kieran, and Franklin P.
Adams of ’’Information Please” and Charles Laughton, who
will read Lincoln’s Gettysburg Address.
The Treasury Hour will be broadcast each Wednesday
evening; for thirteen weeks.
, -OoO-
Is t'
iompany C, 141st Infantry, Thirty-Sixth Division^at
man, has p u r c h a s S t a i
fDefense Savings Stamps, the
today.
\
.^ari-r«?&***“'‘
who earn from $21 to $30 per month,^«;i.gned up
100 percent on the invitation of Captain Thomas McClure Willi*
q nmm&nder..
who made tlie pui'Cllimu VUTTT
Captain Williams who was confined to a hospital^ felt he
should be doing something for national defense despite his illness.
He worked out the plan foiSetamp purchases and presented
it to First Sergeant Elihu L. Venable who secured the cooperation
of postal officers and won the unanimous support of the men.
More than 200 Defense Stamp albums were brought to the camp for
distribution.
In order to get the 100 percent participation, non
commissioned officers carried out some strange errands.
One
private bought his stamps just before goirig under the ether for
an appendectomy in a Brownwood, Texas hospital.
One member of
the company went to Fort Sam Houston, carrying stamps to an
officer and an enlisted man there.
Two men in the company
guardhouse were among the first to buy stamps.
-ooOoo-
.TREASURY DEPARTMENT
Washington
FOR RELEASE, A F T E R N O O N PAPERS,
Tuesday, Jul y 1, 1941.
6/30/41
Press Service
No. 2 6 -19
O n e in f a n t r y c o m p a n y o f the U n i t e d States
A r m y a l r e a d y has h u n g up a 100 p e r c e n t record
pu r c h a s e of D e f e n s e Sa v i n g s Stamps,
in the
the W a r D e p a r t m e n t
re p o r t e d to t h e T r e a s u r y today.
The men, w h o are paid f r o m $21 to $30 a
month,
are m e m b e r s of C o m p a n y C, H i s t
T h i r t y - S i x t h D i v i sion,
at C a m p Bowie,
Infantry,
Texas.
They
sign e d up at the s u g g e s t i o n of C a p t a i n Thomas M c C l u r e
Williams,
c o m p a n y commander, w h o c a l l e d a t t e n t i o n to
the
campaign.
TREASURY DEPARTMENT
Washington
Press Service
No. 26-19
FOR RELEASE, AFTERNOON PIPERS,
Tuesday, July 1, 1941.
B7307*
One infantry company of the United States Army already has
timer uo a 100 nercent record in the purchase of Defense Savings
Stamps, the War Department reported to the Treasury today.
The men, who are paid from $21 to $30 a month, are members
of Company C, 141st Infantry, Thirty-Sixth Division, at Camp
Bowie, Texas.
They signed up at the suggestion of Captain
Thomas McClure Williams, company commander, who called attention
to the campaign*
Captain Williams, who was confined to a hospital, felt he
should he doing something for national defense despite his ill
ness.
He worked out the plan for voluntary stamp purchases and
presented it to First Sergeant Elihu L. Venable, who secured the
co-operation of postal officers and won the unanimous supnort of
the men.
More than 200 Defense Stamp alburns were brought'to the
canro
i. for distribution.
In order to get the 100 percent participation, non
commissioned officers carried out some strange errands.
One
private bought his stamps just before going under the ether for
an appendectomy in a Brownwood, Texas, hospital.
One member of
the company went to Fort Sam Houston, carrying stamps to an
officer and an enlisted man there.
Two men in the company guard
house were among the first to buy stamps.
ooOoo
TBXASUKY DEPABTMEBT
Washington
fO» BKUASK* m s m m WBWSPAFK1S,
Preii Service
9o, Ps (n ~2-0
Tuesday, ¿uly 1, 19^1 •
IWW
The Secretar? of tho Treasury announeed l u í srening th&t the tendero
for $100*000,000» or thereahouts* of
91-day freasury bilis» to be datad
July 9 and to natura Ootobar 1, 19**1, which vara offered on Juna 27» vara
apenad at the fadoral Besarro Banks on June 30*
The detalla of thls tssue ara as follovss
Total applied for - $281,145*000
Total aooaptad
- 100*860,000
Bango of aeoepted bidés
High
»
hov
▲reraga price *
99*990 Ifnlralent rata approxinately O.OUO pareant
99*975
•
•
•
0,099
*
99*97®
•
•
*
0.087
"
(35 percent of the aaount bid for at the lov prloe vas aooaptad)
\
TREASURY DEPARTMENT
W ashing'ton
FOR RELEASE, M O R N I N G N E W S PAPERS,
Tuesday, J u l y 1, 1941#
6/30/41
“ “
Press Service.
No# 26-20
The S e c r e t a r y of the T r e a s u r y a n n o u n c e d last
tenders for $ 1 0 0 , 0 0 0 , 0 0 0 ,
or thereabouts,
evening that
the
of 9 1 - d a y T r e a s u r y bills,
to be d a t e d J u l y 2 and to m a t u r e O c t o b e r 1, 1941,
w h i c h w ere
offered
on June 27, wer e o p e n e d at the Federal R e s e r v e R a n k s on June 30*
The details
Total
Total
Range
o f .this
Issue aret e s
fo-®ldws:
a p p l i e d for - $ 2 8 1 , 1 4 5 , 0 0 0
accepted
- 100,880,000
of a c c e p t e d bids:
H i g h - 9 9 # 9 9 0 E q u i v a l e n t rate a p p r o x i m a t e l y 0 * 0 4 0 p e r cent
Low
- 99.975
!
"
”
0.099
,f
Average price- 9 9 * 9 7 8
"
,f
,f
0 # 087
t?
(35 p e r c e n t of the a m o u n t bid. for at
-OoO-
the lo w price was
accepted)-
T R EASURY EEPARTMEHT
Wa s h i n g t o n
FOR IMMEDIATE RELEASE,
Tuesday, July 1, 1941«
Pres* Service
Ho
W i t h fifty-three privately-owned small oarft already
assigned to active duty b y the Unit e d States Coast Guard,
Rear Admiral Russell R. Waesohe, Commandant,
today called for
an additional 270 vessels for the S e r v i c e 1* volunteer reserve.
The Admiral s a i d that his second r e q u e s t for reservists was
occasioned by increased duties arising from the present national
emergency*
"Small vessels are needed in all seotlons o f the country,"
the Commandant pointed out*
"Any owner who wishes to offer
his vessel to t h e United States C oast Guard should communicate
w i t h the District Commander of the Coast Guard District in
w h i c h his boat is harbored*"
M
Pii»n«w~-tTH
the Coast
Recent legislation
Guard authority for acquiring small boats,
created a Coast Guard
Reserve, similar to the Naval Reserve, and reorganized the former voluntary Coast Guard
Reserve into the present Coast Guard Auxiliary,
Any boat owner may voluntarily proffer his boat to the Coast Guard, but there is
I
to go with his boat.
no authority in the law to commandeer it. The owner
in a majority of the cases
owner, a member of the Coast Guard Auxiliary, has elected to accompany his boat.
do this, he, enlisted^ or
J
To
As9
appointed a temporary member of the Coast Guard Reserve
0
as a commissioned or warrant officer and called to active duty.
In addition to the (^3/boats already commissioned and^i^-ijh active service, the
Coast Guard has on hand a number of other boats which are being conditioned preparatory
/
to r
J&Because of the special duties^^iese pritrately-owned boats will engage^
Coast Guard is asking for boats between
the
bO 'and 50 feet in length and capable of making^
an average speed of 12 knots,
in M■tit"Hf— ""It
t.hfi
nuaiad.ffl-ei a
"nti" milling pnhl InimbaBaaff*1
timt—th-p
nf th^-wrg^nry of tlrH
i\i iiinr
— 11 lr
TREASURY DEPARTMENT
Washington
P r e s s Service
No. 26-21
F O R RELEASE, A F T E R N O O N NEWSPAPERS,
W ednesday, J u l y 2, 1941.____________
7/1/41
W i t h fifty-three privately-owned
small
c r aft a l r e a d y a s s i g n e d to active d u t y by t h e U n i t e d
C o a s t Guard, R e a r A d m i r a l R u s s e l l R. W a e s c h e ,
States
Commandant,
t o d a y a a l l e d for a n a d d i t i o n a l 270 v e s s e l s for the S e r v i c e ’s
v o l u n t e e r reserve.
The A d m i r a l said that his
s e c o n d request
for r e s e r v i s t s w a s o c c a s i o n e d by i n c r e a s e d d u t i e s a r i s i n g
f r o m the p r e s e n t n a t i o n a l emergency.
" S m a l l v e s s e l s are n e e d e d in a l l
of the c o u n t r y , "
the C o m m a n d a n t p o i n t e d
out.
sections
"Any
o w n e r w h o w i s h e s to o f fer his v e s s e l ^ to the U n i t e d States
C o a s t Guard
s h ould c o m m u n i c a t e w i t h t he D i s t r i c t C o m m a n d e r
of the C o a s t G u a r d D i s t r i c t
in w h i c h his b o a t
is harbored."
\
TREASURY DEPARTMENT
Washington
Press Service
No. 26-21
FOR RELEASE, AFTERNOON NEWSPAPERS,
Wednesday, July 2, 1941_________
7 7 1751
M t h fifty-three privately-owned small craft already
assigned to active duty by the United States Coast Guard,
Rear Admiral Russell R. Waesche, Commandant, today called
for an additional 270 vessels for the Service s volunteei
reserve.
The Admiral said that his second request for
reservists was occasioned by increased duties arising from
the present national emergency.
"Small vessels are needed in all sections of the
country," the Commandant pointed out.
"Any owner who wishes
to offer his vessel to the United States Coast Guard should
communicate with the District Commander of the Coast Guard
District in which his boat is harbored."
Recent legislation giving the Coast Guard authority
for acquiring sma.ll boats created a Coast G u a m Reserve,
similar to the Naval Reserve, and reorganized the former
voluntary Coast Guard Reserve into the present Coast Guard
Auxiliary.
Any boat owner may voluntarily proffer his boat to the
Coast Guard, but there is no authority in the law to com
mandeer it.
The owner is not required to go with his boat,
o
Cj
but in a majority of the cases the owner, a member of the
Coast Guard Auxiliary, has elected to accompany his boat.
To do this, he has enlisted or has been appointed a temporary
member of the Coast Guard Reserve as a commissioned or war
rant officer and called to active duty.
In addition to the fifty-three boats already commis
sioned and placed in active service, the Coast Guard has
on hand a number of other boats which are being conditioned
preparatory to cominissioning.
Because of the special duties in which these privatelyowned boats will engage, the Coast G-uard is asking for boats
betxveen 40 and 50 feet in length and canable of making an
average speed of 12 knots.
-oOo-
-
2
-
filling up their stamp albums can stop inflation with much greater certainty,
than if the job of investing in defense were left only to bankers*
But I want to make it clear that in buying United States Defense
Stamps, you not only perform a duty, but also take advantage of privilege*
Mien you put seventy-five stamps, coasting
25
cents each, Into an album, - or in o
words, when you've invested $18*75, you've made it certain thatty purchasing a
United States Defense Bond with this money, and holding on to your investment you'll have $25 in ten years*
Moreover, you can always cash in your investment !
without loss.
More important than anything else is the fact that every last one of
us wants to do his part in furnishing the power which will keep these United
j
States safe, no matter what may happefi overseas.
}
ifi/e all hope the little Treasury House in Washington is a grand success,
and that there'll be thousands of them all over the country — and that everyone
who has ten cents or twenty-five cents to invest, will take advantage of the
opportunity of getting acquainted with Uncle Sam in the little Treasury House
in his community.
In these houses we shall make the words of the new Treasury
Bond song come true - we shall buy so much freedom from the freedom man that
the democracies of the world need have no fear as to the final outcome of the
struggle which today so disturbs all right-thinking men*
- oOo -
F:
Today for the first time the smallest but perhaps one of the most
important government buildings has been opened in the very heart of Washington.
This little TREASURY HOUSE is only about 15 X 30 feet, but during the next
month it is going to do a lot of business.
Men, women and children, who might
never go into the big Treasury Building or a bank, will come in here with their
stamp albums to buy ten-cent - twenty-five-cent - or perhaps even one-dollar
United States Defense Stamps,
This little TREASURY HOUSE is a symbol of the
easiest plan for safe investment of small savings which has yet been discovered.
We are all hoping that this little house will do so much business,
that other little houses will be established not only in the suburbs of Washingtoi
but also in every county-seat town, and especially in those cities where the
defense program has tremendously increased the population.
Prices of all kinds have gone up faster in the recent months than ever
before in history.
If this rise continues, wages will not buy what they should, j
Farmers will be dissatisfied, and everyone except the speculators will be trouble«
One of the best ways of stopping a disastrous price rise, which would interfere
with defense, is to get millions of people buying United States Defense Stamps filling np their stamps albums regularly — every week.
Workers and farmers
su
■o
im
«* J *
¡ü
« » tu n é , alto «hito to y m k i N W
MMMl«
w m
mataríais tot a l w fro» th,
I* la highiy ...ntlal toa» tola Bsfsass pro«ra»
b* ***•*«•*
«o fiP
«« pooolKU frosi to»
tli« « x t« a l that
ÍI^Ié illBM Jfc|..
t&soo ojt# not fufficlsat immrmmrf“
*” * *
“toto«if af toa toarla«»
«"*• • W t »
» « lar,.*, i» 1 , Oaramaiaat
aaaartUaa la tolpln* hla M t o r la t o « v i . «aa, *
Mi
f e
ratoala» toa
«•aato far «atoa for nait-«sfaasa parpo«»« «o toleh toa» «ollar al«h»
• l l a n t N to appllto, ato t o , kjr plselng that aaaa «ollar at »to
«lapo«al af lila torsraasnt far «afana» parpo«««.
la tola « v m o r
Oaaaraaant c*a jmroh«,. toa tanto, «ha »hipa, toa «I«pía»«*, .to toa
othar * * t a r ^ «hito wa aato far «ha «afana» of «hla «mntry aitoao»
»latoa« mar »•* Partoa.ing poaar la aoapatltloa alto toa Bafaaaa
«■*"»í- .
'-ten
«
prodnetion. Ivtrjr pureh**# of
itrile#» « Aoufcl# ttow
*** «***»«t r tn ln g cofits at hon# o» th® ooonoaie f*oat. and tho oth#r
mSm
««alnat th# #n#iaÍ9* of dwaocraqjr ahroad.
I «a «uro that # U of yoo
approolato th# Isoortano« of tfeio and that
o»
fwwr oontimiod and tnoroaood «upport.
And
P» li
and
prtooof to fon
tho ffs
privil©«# and a fumino
■ •/r1
▼te# troofdottl #f tho tlaitoA
J
, Vtoap tal« at
i» la a plaaaura to praaM» to «a
H
M&A'
Sfs
51
st *»
Bere today in Washington wa bare furthar tanfibla «ridane« of thè
eooperation ahi eh Amarle*'a induutry 1« glring to tha 9«f«»ii eaa~
pali*«
fha Standard Oli Company of S«t Jersey has aracted la a patite
parie la thè rary cantar of tha Nailon*a Caditoi a noveljhouaa « É l
and haa presente«! It te tha freeeoty
Department te ha uaad
premete thè cale ef Defeaae Sarti « ancoriti««.
A-,«a
f^vy
It tób;h^ad th*.heu«è thè *frenaury Houae* «ad Wn"Aaiif
appropriate rotto;dNmMftfl
"Build far defeaae • Defeiid ehat yen build.1
Sere eae can secare inferaatiea concerning our Defeaae Sariafa Seni
program, purchaae Dafaaaa Sari afa Stampa* and ria* sena of tho typee
of mlìitary equipmsat pim ihmweddi ia fundg ahi eh yen aro daHyloanlng
to yeur Oorarxmant throngh tho purehaso ef theee ««euriti«a.
It ie iadeed with a faaling ef gratificano* that 1 aeeept thia
ea hehalf ef thè freaenry Department fro» thè Standard
Oli Company ef He* Jersey.
In deing ee I raat te aspra«« our eiaeere
thanka and appreciatioa te thia eoapany and ita effigiale far thia
gift» and I rant te taire thia oeeaeien to thank than ftaaafer thair efforte in tha «mia of Safanaa Sarings aeeuritiaa throngh
anaouneemente on thair dally programa carri ad arar 3h radia atatioaa
*rvw
-„ Tv-O^pn^'%" rau iifPi
H t
hffor thar"
r#r thraughowt, cmr.lagd.
thia ^rodrro hefora tha paopla
and >aap»iaOr»,ai ita importano« net only fro» tha atandpoiat ef proriding
ìp
U?
5
1%--*''C-'
^ ’ -i.
(J)
céfiM^S-u- ?
KtfUtw n jìé-
<C4j*
'%
,A
/
**• Frooldoiit in hit addr««* of May 27Ì& daclarad «fe*»aa
uni1nited National eaergency oafefe«l in our country.
Xm
and «osta
...
__
~T , .
&AJi tY+JUS>&W£ „...
ererywhere throughout tha tJhitad Stata« trrrri r a m n i ìli Ittix eau««
•f National Dafanao.
Already * ailllo» «ad a half m b ar« «arring
la our allitary forca«.
torkaan la faeton«« producine war aatarial«
bar« doubl ad and rodouHod th«ir «fforia, foragoiag thalr holidaya,
la ordar that tha tfe««0feiMfe£>feSaM# latina *« dafanaaa aay
___ , .
apaauaa up.
1 <ATX<à*Jw£* e " A i f c W v & J L
«aaBWcsi^afy«aaa^,»aaawBaaMpd#taMNB»««i>^t*>j*j*^j“111111
1«
■■■■■•'*""■" — »
naT« glran l l i M t raluable j ^ K M r i N p M t to tha promotion «si «al«
of
n
m
*
•*'"*■■*■ atafano« Sarta*« Sonda «ad Stampo, through «hi eh erery
Amari con !t diva« aa individuai opportuni ty to pariicipate Mtivtly
ia tha Bofonoo oampalgn.
la aaay of our antica*«
1 andina----- -f «ft--- f f t m * «ha ompioyoo«
unlveraally bava aubaerlbod to Bofonoe Sarlngs «acuri tlaa on a «aakXy
or aonthly Sano.
Tottof Amaricana in tha VatÌoa*o «ehooXa aro alio
helping by inratting thalr «mriftfa.
Bank«, inaurane« compattioa» «aringa
oad Xoaa natociatlona, and «aay othar «roupa aro matta* orory effort
to holp promota «ho eaXa of thooo ««curitioa.
fido dofanaa of feerica
io a «roat oooparatlra aoreaant aad eooparation io o««oatlal If «e ara
to «uocood.
la o u ^ oawpaifn taguan
lìafaaa i iertugr-iFipmqf m « a
1 ««a
tfaly aay that •• baro had aplandid eooparation frora arary oao and «a
do «pproeiato it.
X
iiiv
V i c e P r e s i d e n t H e n r y A. W a l l a c e w i l l spea
at c e r e m o n i e s o p e n i n g the n e w C a p i t a l i n f o r m a t i o n center
the N a t i o n a l D e f e n s e S a v i n g s
for
c a m p a i g n at 14-th street and
Pennsylvania avenue , thExïxsaxiaeyxxxxxxx
Bell
accept
and
the
Ua€toBsgoirQtD'gy>-Qf the Tib a1¿retry w;
glass-shriek building
on
behalf of the
will introduce the vice president . The
Treasury
Army , Navy and
Marine bands will play •
The house which will be used as a center for £9
discemination of
information about
H t B m at
D e f e n s e Bonds and •Mut Tralo ...of D o f o n o c
Stamps
will be
vy
Marine
tanks
mines
United States
howitzer
,
due at the National
from Buffalo . The
Bridge and
, a M a r i n e " Iglu”
, torpedos,
and an Army P 39 jiracobra
plane is
and
persuit
airport
plane. The
at noon after a flight
Army will tow it across the Arlington Memori
up Constitution avenue
to the
display site •
Vice Présidant H e n r y A* Wallace will speak at 12il6 p.m.
today at ceremonies opening the n e w Capital information center
for the national Defense Savings campaign at 1 4 $ h street and
* Hi ' H '
%
Pennsylvania avenue*
Undersecretary Daniel
Bell will accept the glass-brick
building on behalf o f the T r e a s u r y a nd will introduce the vice
president*
The Army, W a v y and Marine bands will play.
The h ouse w h i c h will be u s e d as a c e n t e r for dlseemlnation of information about Unit e d States D efense Bonds and
Stamps and sale of the latter will be surrounded by displays
of Army, W a v y and Marine Corps equipment including a 73 mm*
howitser, a Marine *Iglu* tanks, an anti-aircraft gun, Waval
field pieces,
pursuit plane*
torpedow, mines and an A r m y P 39 Alraoobra
The plane is due at the Rational airport at
noon after a flight f r o m Buffalo*
The Ar m y will tow it
across the Arlington Memorial Bridge and u p Constitution
avenue to the display site*'
-OoO-
\
|
/
Vice P r e s i d e n t H e n r y A* W a l l a c e will s p e a k at 1 2 : 1 5 p.m.
^4±Z )!jib ^flr^sdt Q«t*~À,
#v-
today at c e r e m o H l w r o p t S i O T ^ ^
ìhròìw
A
for the N a t i o n a l D e f e n s e Sa v i n g s
r nmpn 1 gn at ■
fri miti.
1
Pie« a iiery l |¥iaw ii ie t»iiiaw"'eiwae pt'wwr
U n d e r s e c r e t a r y D a n i e l W. B e l l w i l l
'13-
accept
the glass-brick
»
b u i l d i n g on b e h a l f o f the T r e a s u r y a n d w i l l i n t r o d u c e
president.
the
V ice
Th e Army, N a v y a n d M a r i n e b a n d s w i l l play*
The h o u s e , w h i c h w i l l be u s e d as a c e n t e r f o r d i s s e m i n
a t i o n of i n f o r m a t i o n a b out U n i t e d S t a t e s D e f e n s e B o n d s and
S t a m p s a n d sale of the l a t t e r w i l l be s u r r o u n d e d b y displays
of Army,
N a v y a n d M a r i n e C o rps e q u i p m e n t i n c l u d i n g a 75-mm*
h o w i tzer,
a Marine
f i e l d pieces,
plane*
’’IgluJ* tanks,
an a n t i - a i r c r a f t gun, Naval
torpedow, m i n e s a n d an A r m y P -39 A i r a c o b r a
Th e p l a n e
d ue at the N a t i o n a l a i r p o r t at
%
n o o n a f t e r a f l i g h t f r o m Bu f f a l o *
T h e A r m y wil l
tow it
acro s s
the A r l i n g t o n M e m o r i a l B r i d g e a n d u p C o n s t i t u t i o n
avenue
to the d i s p l a y site*
OoO-
TREASURY DEPARTMENT
Washington
Press Service
N o . 26-22 '
FOR IMMEDIATE RELEASE
Tuesday, July 1, 1941
112¡15pjI
ŒTd
Vice President Henry A. Wallace will speak at 12:15 p.m.
today at ceremonies at 14tli Street and Pennsylvania Avenue
! g lis i« b r i
opening the new Capital information center for the National
lu c e th e I
Defense Savings campaign.
Under Secretary Daniel W. Bell will accept the glasstrick building on behalf of the Treasury and will introduce
lO n d s an û
the Vice President.
The Army, Navy and Marine bands will play,
iydisplay
The house, which will be used as a center for dissemina
;a7&
tion of information about United States Defense Bonds and
g u n ,l
Stamps and sale of the latter, will be surrounded by displays
of Army, Navy and Marine Corps equipment including a 75-mm.
howitzer, a Marine "Iglu," tanks, an anti-aircraft gun, Naval
field pieces, torpedoes, mines and an Army P-39 Airacobra
fighter plane.
The plane is due at the National Airport at
noon after a flight from Buffalo.
The Army will tow it across
the Arlington Memorial Bridge and up Constitution Avenue to
the display site.
oOo-
Address of Vice-President Henry Aj Wallace
at Dedication of Treasury House
For Release at 12:15 p . m . , July 1, 1941.
Today for the first time the smallest but perhaps one of
most important government buildings has been opened in the
very heart of W a s h i n g t o n .
This little Treasury House is only
about 15x30 ft.,but during the next month it is going to do a
iness.
Men, women and children, WhO might never go
rH
i— 1
•rH
ig Trea sury building or a bank, i
come in here
stamp albums to buy ten cent - 'twen ty-ffve cent or perhaps even one-dollsr United States Defense
Stamps,
This little Treasury House is a symbol of the easiest plan for
safe investment of small savings which has yet been discovered
We are all hoping that this little house will do so much
business,
that other little houses will be established not onl;
in the suburbs of Washington, but also in every county-seat
town, and especially in those cities where the defense program
has tremendously increased the population.
Prices of all kinds have gone up faster in the recent
months than ever before in history.
wages will not b u y what they should.
If this rise continues,
Farmers will be dissatis
fied, and everyone except the speculators will bo troubled.
One of the best ways of stopping a disastrous price rise, whic'
would interfere with defense,
is to get millions of people
buying United States Defense Stamps - filling up their stamp
elbums regularly - every week.
Worl ->rs and farmers filling
up their stamp albums can stop inflation with much greater
certainty, than if the job of investing in defense were left
only to b a n k e r s .
But I want to make it clear that in buying United States
Defense Stamps, you not only perform a duty, but also take
advantage of privilege.
costing 25 cents each,
When you put seventy-five stamps,
into an album,
- or in other words, when
you’ve invested $18.75, 3/011’ve made it certain that by purchas
ing a United States Defense Bond with this money, and holding
on to your investment - y o u ’ll have $25 in ten years.
Lore-
over, you can always cash in ycur investment without loss.
More
important than anything else is the fact that every
last one of us wants to-do his part in furnishing the power
which will keep these Unites States safe, no matter vliat may
happen overseas.
We all hope the little Treasury House in Washington is a
grand success, and that t h ere’ll be thousands of them all over
the country - and that everyone who has ten cents or twenty-
3
five cents to invest, will take advantage of the opportunity
of getting acquainted with Uncle Sam in the little Treasury
House in his coranunity.
In these houses we .shall make the
words of the new Treasury Bond song come true - we shall buy
so much freedom from the freedom man that the democracies
of the world need have no fear as to the final outcome of tlM
struggle which today so disturbs all right-thinking men.
-OoO-
Address of Daniel |. Bell,- Under' Secretary of
the Treasury at Dedication of "Treasury House
For Release 12:15 P.M., July 1, 1941.
The President in his address of May 27 declared an u n
limited National Emergency in our country.
Men and women
everywhere throughout the United States are rallying to the
'cause of National Defense.
Already a million and a half men
are serving in our military forces.
Workmen in factories
producing war materials have doubled and redoubled their effort:
foregoing their holidays,
may be speeded up.
in order that the N a t i o n ’s defenses
Civic and public-spirited agencies have
given valuable assistance to the promotion and sale of
Defense Savings Bonds and Stamps, through which every American
is given an individual opportunity to participate actively in
the Defense campaign.
In many of our nati o n ’s leading corporations, tnc employee*
universally have subscribed to Defense Savings securicies on a
; weekly or monthly basis.
Young Americans in the N a t i o n ’s
schools are also helping by investing their savings.
insurance companies,
savings and loan associations,
Banks,
ctnd many
other groups arc making every effort to help promote the sale
of these securities.
This defense of America is a great cooper*
ative movement and cooperation is essential if we are to
succeed.
In this campaign I can truly say that we have had
splendid cooperation from every one and we do appreciate it.
2
Here today in Washington wo have further tangible evi
dence of the cooperation which America’s industry is giving to
\
the Defense campaign.
The Standard Oil Company of New Jersey
has erected in a public park in the very center of the N a t i o n ’t
Capitol a novel glass house and has presented it to the
Treasury Department to be used to promote the sale of Defense
Savings securities. It has been named the "Treasury House" and
bears this appropriate motto:
what you build."
"Build for defense - Defend
Here one can secure•information concerning
our Defense Savings Bond program,
purchase Defense Savings
Stamps, and view some of the types of military equipment ob
tained with bunds which you are daily loaning to your Govern
ment through the purchase of these securities.
It is indeed w i t h a feeling of gratification that I
accept this Treasury House on behalf of the Treasury Depart
ment from the Standard Oil Company of New Jersey.
In doing so
I want to express our sincere thanks and appreciation to this
qompany and its officials for this patriotic gift, and I also
want to take this occasion to thank them for their efforts
in the sale of Defense Savings securities through announcements
on their daily programs carried over 34 radio stations from
Haine to Louisiana*
- 3 I should like to emphasize here and no?/ that the Defense
Savings campaign is a
continuing
effo r t . Therefore,
it is
imperative that this program be kept constantly before the
people and that its importance be stressed, not only from the
standpoint of providing the funds with which to purchase
Defense materials but also from the economic standpoint.
It
is highly essential that this Defense program be financed so
iar as possible irom toixes.
sufficient,
To the extent that tames are not
then we must borrow the real savings of the
American people.
Every American who
saves a dollar and in
vests it in Government securities is helping his country in
two ways - one, by reducing the demand for goods for non
defense purposes to ?/hich that dollar might otherwise be
applied, and two,
by placing that same dollar at the disposal
of his Government for defense purposes.
In this way your
Government can purchase the tanks, the ships, the airplanes,
and the other materiel which we need for the defense of this
country without placing any no?/ purchasing power in competitioi
with the Defense production.
Every purchase of stamps or bondi
strikes a double bio?/ - one against rising costs at home on
the economic front, and the other against the enemies of democ
racy abroad.
I am sure that all of you appreicate the impor
tance of this and that your country can count on your
continued and increased support.
-OoO-
^ eeaytrj
These
stations
used
to d e t e r m i n e
the l o c a t i o n of any
ship - navy, merchant or other - along the coast whose master may
not Know his exact location. i n / n p ^ H r M i ^
«Hr
radio a mas
ter station for this information, and the master station
/)he i i formatii>n v?° -»s^
]n
l
tjLons on e i ther side of it,
r
t
.ida of the d i s t r e s s e d
relay/p
the three then
ship and
sending
it to her.
( E v e r y one of these
stations has b e e n e q u i p p e d for this service,
and a c o m p l e m e n t o f 1 3 0 C o a s t G u ard p e r s o n n e l has b e e n trained
lerrti'Hg the d i r e c t i o n finders.
Th e
stations
s e l e c t e d for
w o r k are:
C a p e Eli z a b e t h , M a ine;
Portland
D e e r Island, B o s t o n
F o u r t h Cliff, C ape Cod, Mares.
_
N o r t h Touro, Cap e Cod. %h*4? *
f^\
S u r f s i d e , ***—
4k^ y
"c*ß**& yr
t
Manasquan,
N e w J e r s e y q m m w I.
*
C a p e May,
N e w Jersey,
C a p e H e n l open, Im » D elaware*
B e t h a n y Beach, Delaware.
V i r g i n i a B e a c h , V aa **~*.
C a p e Hatteras, N o r t h Carolina.
Cap e Lookout, N o r t h Carolina.
Gal v e s t o n , Texas.
P o int Fermin, California.
P o int Hueneme, California.
P o int M o n t a r a , C a l i f ornia.
it a j
Point Reyes,
San Francisco
Em p i r e , Oregon.
' /
F o r t Stevens, Oregon.
f
K l i p s a n Beach, W a s h i n g t o n .
T a t t o o s h Island, W a s h i n g t o n
*
-----
Operation of twenty-two radio direction-finder stations
on the Atlantic,Pacific and
Gjul£
coasts
rm<niiiii»»yiini— lugpi MBftxajAii today was
an a g r e e m e n t between
the Unit e d States Coast Guards
Secretary
Morgenthau and Secretary of the Navy
Knox« Previously the stations had been operated by the United
States Navy*
m
r
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, July 1, 1941,
Press Service
No.~26*~23
Operation of twenty-two radio direction-finder
stations on the Atlantic, Pacifife and Gulf coasts today
was taken, over by the United States Coast Guard as the
result of an agreement between Secretary Morgen than
and Secretary of the Navy Knox.
Previously the stations
had been operated by the United States N'.avy.
These stations are used to determine the location
of any ship - Navy, merchant or other - along the coast
whose master may not know his exact location. Such vessel
radio -a master station for this information, and the
master
'station relays the information to stations on
either side of it, the three then charting the position
of the distressed ship and sending it to her.
Every one of these stations has been equipped for
this service, and a complement of ISO Coast Guard
personnel has been trained to operate the direction find«
The stations selected for the w o r k are:
Cape Elizabeth, •Maine; Portland, Maine.
Deer Island, Boston, Massachusetts.
Surfside, Boston, Massachusetts.
Fourth Cliff, Cape Cod, Massachusetts.
North Touro, Cape Cod, Massachusetts.
Fire Island, Long Island.
C^J
M a n a squan, New Jersey .
Cape May, New-Jersey.
Cape Henlopen, Delaware.
Bethany Beach, Delaware.
Virginia Beach, Virginia.
Cape Hatteras, North Carolina.
Cape Lookout, North Carolina.
Galveston, Texas.
Point F e m i n * - C a l i f o r n i a . ,
Point Hueneme, California.
Point Montara, California.Point Reyes, San Francisco, California.
Empire, Oregon.
Fort Stevens, Oregon.
Klipsan Beach, Washington.
Tattoosh Island, Washington.
- o 0 o
TREASURY DEPARTMENT
Washington
Press Service
No. 26 - 24
The following statement is made today by Secretary
Morgenthau:
The net results of the financial operations of the
G-overnment for the fiscal year 1941 are now available on the
basis of the figures appearing in the Daily Treasury Statement
for June 30, 1941.
Financial operations of the Government for
the fiscal year 1941 reflected an increase of $2,220,000,000
in receipts and an increase of $3,712,000,000 in expenditures
over the preceding year.
Total receipts for 1941, excluding
Social Security employment taxes of $661,000,000 appropriated
to Federal old-age and survivors insurance trust fund, amounted
Total expenditures, exclusive of debt retirements, were
$12,710,000,000 as compared with $8,998,000,00 q F in 1940.
The
net deficit (excluding debt retirements) for the fiscal year
1941 was $5,103,000,000 as compared with a net deficit of
$3,611,000,000 for 1940.
1/ In order to put on a comparable basis with 1941, the expendi
tures made in 1940 under transfers to Federal old-age and
survivors insurance trust fund in the amount of $538,000,000
have been deducted from total receipts and expenditures.
-2-
The following table shows (1) receipts and expenditures for the fiscal year 1940; (2) receipts and expenditures
for the fiscal year 1941; and (3) the increase or decrease in
1941 receipts and expenditures as compared with the fiscal
year 1940:
RECEIPTSANDEIPENDITORES
(Inmillione of dollars')
ACTUAL
Receiptst
Internal revenue:
Incoae tax............................................
Miscellaneous internal revenue .......................
Social security taxes ........................... ••
Taxes uponcandors andtheir enployees . . . . . . .
p«:i unemployment insurance contributions........
G
aisce
stonsne................................................
M
Retulla
rnofoussureceipts:
rplus funds fromQovemnental corporations
Other ■ ■ ............................................
Total receipts
Deduct net appropriations for Federal old-age
andsurvivors Insurance trust fund ........
Net receipts
Expenditures:
I, General (including recoveryandrelief):
Departmental
Department of Agriculture:
Agricultural adjustment program.................
CommodityCredit Corporation- Restoration
of capital impairment .........................
FarmCredit Administration:
Capital stock reduction, Banks for cooperatives
erl F
..........................................
FeO
dth
era
armMortgage Corporation ...............
Fed
era
l
la
nkap
s:ital Stock andSurplus . . • •
ReductionndofbaC
O
th
e
r
.
........................................
FarmSecurityAdministration ...................
K
enant Act..................................
Raura
ralTElectrification
Administration ...........
Forest roads andtrails
Department of the interior:
Reclamationprojects.....................
Post Office Department (deficiency) ...............
Treasury Department:
Interest onthe public debt .....................
Refunds of taxes andduties .....................
District of Colubmia (UnitedStates share)........
Federal LoanAgency:
Federal HousingAdministration .................
ReconstructionFinance Corporation *••••••
Other ................. ...........................
Federal Security Agency:
Civilian ConservationCorps ................... •
National TouthAdministration . . ...............
Social Security Board ...........................
Other............................... ............
Federal Works Agency:
Public Buildings Administration .................
Public RoadsAdministration ................. • •
Public WorksAdministration .....................
UnitedStates HousingAuthority .................
W
orkProjects Administration.............• • •
O
theard.......................
Railro
Retirement Board . . . ....................
...................
Tennessee ValleyAuthority . . . . . .............
River andharbor eorkandHoodcontrol..........
PanamaCanal ......................................
Veterans' Administration .........................
Subtotal
Rational defense:
W
ar Department ...............................
Navy Department ...............................
National defense funds for the President . . .
Selective Service (administrative expenses) . .
Emergencyship construction (United States
Maritime Commission)
D
nn
sealaid
Neafe
tio
defe(len
nsedh-lease)
ousing (Federal WorksAgency)
♦ 1,345
*
(02
*
76
«
16
♦
2
♦
43
3,470
2,967
788
137
7
392
2,125
2,345
712
121
5
349
*-
319
188
È/
54
214
5,925
265
26
♦ 2,343
8,268
538
661
*
123
5,387
7,607
*
2,220
810
811
*
1,020
968
120
'
3
9
a
100
29
62
27
24
8
29
158
42
38
12
a
1,041
91
6
7
6
1
*
60
1
2
-
100
-
96
15
14
4
10
11
1,111
90
6
♦
10
♦
-
70
1
“
3
6
-
1
26
283
95
364
57
257
136
423
127
75
165
288
2
1,477
69
174
103
6
1,285
8
39
213
25
557
7
51
219
39
553
7,177
667
892
-
♦
5
.
59
.
54
.
121
.
59
♦
70
♦
-
6
9
185
-
192
♦
4
♦
»
1
12
6
14
4
6,564
-
613
3,635
2,217
103
18
* 2,968
♦ 1,325
6,048
1,559
a
♦
12
21
42
-
.
a/
120
86
30
96
.
-
bO
4
7
_
1
52
a
.
III. Revolving funds (net):
FarmCredit Administration:
Reductionof Capital Stock of ProductionCredit
CorporationandFederal Intermediate Credit Banks
erl F
..............................................
FeO
dth
era
armMortgage Corporation (capital
stock reduction, act June2 5 , 194D) • • • • • • • •
Public WorksAdministration........ ................
Subtotal
Transfers to trust accounts, etc.:
Railroad retirement account ........ . . . . . .
Railroad unemployment insurance administration
fundtransfers to unemployment trust fund (act
ID , 1940) .............................................................................
AdOjuct.sted
service certificate fund •••••»••
Government employees' retirement funds
(United States share)........ ................
Inereaae (4)
Decrease (-)
i9 a
1940
♦
♦
*
103
18
♦
*
♦
12
21
42
* 4,489
55
1
a
a
55
4
a
100
23
-
100
36
a
136
-
190
124
♦
3
7
10
«
7
♦
10
♦
.
87
93
♦
6
.
208
234
«
26
8,998
12,710
♦ 3,712
3,611
5,103
♦ 1,492
Total expenditures (exclusive
of debt retirements) . . .
.
SSÏ.Ïf*0 ^5M3Î!Sr^erating repayment of amount, paid to the Co-odity C«dit Corporationfor capiti impair—it.
£/ (Net). Reflects credit of $24,500,000representing return of surplus funds.
t
Of the total increase in general receipts for the
fiscal year 1941 over those for 1940, $1,345,000,000 was
accounted for by an increase in income taxes; $622,000,000 m
miscellaneous internal revenue; $43,000,000 in customs duties;
$16,000,000 in taxes upon carriers and their employees;
$2,000,000 in Railroad Unemployment Insurance contributions;
and $239,000,000 in miscellaneous receipts.
The miscellaneous
receipt items include for the fiscal year 1941, $319,000,000
of deposits in the Treasury on account of the return of capital
by various Governmental corporations. A comparable figure for
the fiscal year 1940 reflected S deposit of $44,000,000 on
account of the repayment of capital funds previously advanced
to the Commodity Credit Corporation for restoration of its
capital and $10,000,000 from Federal Savings and Loan
I ssociations.
In the fiscal year 1941, following recommendations
of the President in his Budget Message of January 3, 1940,
certain Governmental corporations returned a portion of their
surplus funds to the Treasury.
The following table shows the
amounts returned by each corporation and their effect upon
receints and expenditures for tne fiscal year 1941:
-5~
Return of Capital Fuads by Governmental CorporationgBudget Estimate
(p.XXI,19^2
Budget)
Miscellaneous Receipts
Federal savings and loan associations .........
Reconstruction Finance Corporation:
Purchase of stock of federal home loan hanks..
Reduction in capital or surplus funds .......
Purchase of securities from Public Works Admn.
Actual
'Fiscal -£§ar
Hi
$ 35,000,000
$10,466,200
12^,7^1,000
124,741,000
175 , 000,000
9,000,000
Subtotal ....................... ......
175.259.000
25«500>000
360.500.000
319,207,200
Repayments to Revolving Funds
Farm Credit Administration:
Banks for cooperatives ..............
Production credit corporations .... .
Federal intermediate credit banks ...
Federal Farm Mortgage Corporation ....
Federal land banks:
Paid-in surplus .....................
Capital stock ............... .......
Public Works Administration ..........
Subtotal .....................
Grand total .... ............
60,000,000
15,000,000
HO,000,000
60.000.
000
15.0 0 0.
000
40.000. 000
100 ,000,000
100 ,000,000
H2,517>OS5
57,482,915
42,517,085
57,482,915
24,500,000
14.000.
000
339,500,000 329,000,000
700,000,000" 648,207,200
The net receipts for the fiscal year 1941, which
amounted to $7,607,000,000, were $594,000,000 more than the
estimated receipts for this period 01 $7,0x3,000,000 in xhe
Budget Message of January 3, 1941.
The total expenditures for the fiscal year 1941
(exclusive of debt retirement) amounted to $12,710,000,000,
which were $492,000,000 less than the estimated expenditures
for this period as contained in the Budget Message of January 3,
1941.
Total expenditures on a comparable basis were estimated
in the Budget Message at $13,¿02,000,000.
The general expenditures of the Government amounted
to $6,564,000,000 for the fiscal year 1941 as compared with
$7,177,000,000 for the fiscal year 1940, a decrease of
wm
613,000,000.
Credit for a return of surplus funds of Govern
mental corporations accounted for $160,000,000 of this reduction
The National Defense expenditures amounted to
$6,048,000,000 for the fiscal year 1941 as compared with
$1,559,000,000 for the fiscal year 1940, an increase of
$4,489,000,000.
Of the total expenditures for National Defense,
$3,635,000,000 were ma.de by the War Department; $2,21/,000,000
by the Navy Department, $121,000,000 under the Presidents
National Defense funds and for Selective Service; $12,000,000
for emergency ship construction (liaritime Commission);
$21,000,000 for defense aid (lend-lease); and $42,000,000 ^or
national defense housing (iederai V^orxs Agency).
FINANCING NET DEFICIT AND OTHER REQUIREMENTS
The following table shows the. sources which provided
the funds to finance the net deficit of $5,103,000,000, the
excess of expenditures in trust accounts, etc., of $148,000,000
and the increase in the general fund balance of $743,000,000.:
1
(In millions of dollars)
Net deficit, excluding debt retirements . . . . . . . . . . . . . . . . . . $5,103
Excess of receipts (-) or expenditures (/) in
(a)
Trust accounts . . . . . . . . . . . . ......
(b)
Checking accounts of governmental
agencies . . . . . . . . . . . . . . . . . . . . . .
/225
Other accounts . . . . . . . . . . . . . . . . . . .
__3
(c)
$ “
Increase in general fund balance . . . . . . . . . . . . . . . . . . . . . . . . ... 74-2
12$
Total requirements . . . . . . . . . . . . . . . ............
*
Means of financing:
Public debt receipts (net) from
(a) Market issues:
Treasury bills ........ $^ 324
U. S. Savings Bonds ....
1,409
Other issues ............ 3,916
(b) Special issues:^
^
Unemployment Trust Fund ...
Federal Old-Age and Sur
vivors Insurance Trust
pu n q
Other accounts ........
$4)649
5bo
643
^3 £
1^345994
-8-
THE PUBLIC DEBT
The gross public debt on June 30, 1941, amounted to
-ee-
48,961,000,000 as compared with $42,967,000,000 on June 30,
1940, an increase of $5,994,000,000.
The following statement
shows the public debt as of June 30, 1940, and June 30, 1941,
classified by character of issues, as between regular issues
sold on the market and special issues held for account of
Government trust and special funds.
It should be noted that,
of the net increase of $5,994,000,000 m
the amount of the
public debt during the year, $4,649,000,000 represented an
increase in the amount of outstanding issues in the market and
$1,345,000,.000 an increase in special issues.
9
Statement of the Outstanding Public
Debt on June 30, 1940, and June 30, 1941
(In millions of dollars 1
1941
1941
1940
Public issu es
Prewar and p o s ta l savings bonds . . .
Treasury bonds ...................................................
J h ■Savings bonds. ........................... . • . .
Adjusted se rv ice bonds ..............................
Treasury notes ...................................................
Treasury b i l l s ...................................................
Matured debt on which
in te r e s t has ceased .................................
Debt bearing no i n t e r e s t ........... ..........
S u b to tal . . *
S p ecial issu e s
Government L if e Insurance Fund . . . .
N ational Serv ice L if e Insurance Fund
Federal Old-Age and Survivors
Insurance Trust Fond ..............................
R ailro ad Retirem ent Account .................
Government retirem ent funds .................
Adjusted Serv ice C e r t i f ic a t e Fund .
Unemployment Trust F u n d ...........................
P o stal Savings System .................................
Federal D eposit Insurance
Corporation ......................................................
Federal Savings & Loan Insurance
Corporation •«»«*»••»••••••••••••
S u b to tal ...................................................
Grand t o t a l
Increase (/)
Decrease (-)
196
26,555
2,905
261
6,383
1,3 0 2
r
19 6
30,215
4,314
241
5,698
1,603
/ 3 ,6 6 0
/ 1 ,4 O9
20
685
/
204
386
205
369
/
38,i 92
42,841
/
525
-
531
3
/
i
1,738
79
559
2 ,3 8 1
11
1,710
97
56
301
1
17
4 ,6 4 9
6
3
é 643
5
97
88
1
/
/
—
90
/
34
c
>
à
5
74
656
19
2,273
8
563
9
4,775
6 ,12 0
/ X ?345
42,967
43,961
/ 5,994
10
-
The computed rate of interest on the total interestbearing debt registered slight variations during the year and
vras 2.518$ on June 30, 1941, as compared with 2.583$ on
June 30, 1940.
Interest payments on the public debt in
creased from $1,041,000,000 in 1940 to $1,111,000,000 in
1941.
The following table shows market issues of Treasury
Notes, Treasury Bonds, and United States Savings Bonds of
fered by the Treasury during the fiscal year 1941, including
refunding onerations:
11
-
Maturity
Date
Rate
12/18/40
1/31/41
3/15/41-, 1
3/3l/41f.
6/2 / 4 1 =/
1 2 /15 /4 5
9 /15 /4 4
3 /15 /4 3
3 /15 /4 3
3 /15 / 4 3
3/$f
3/4/
3/4/
3/4/
3/4/
7 / 22/40
1 0 /7/40
3 /15 / 4 1
3 /3 1 / 4 1
6 /2 / 4 1
6/15 /5 6
6/15 / 5 5
3 /15 / 5 0
3 /15 / 5 4
2-1/4$
O*
r/
/o
<
Issue
Date
Face Amóunts Issued
(In raillions)
Total
Cash
Exchanges
Treasury
Notes
B-1945
D-1944
D-1943
D-1943
D-1943
$
—
i
3 2 .4
3 2 .6
.9
530.8
635.1
—
—
$
530.8
635.1
32.4
3 2 .6
.9
—
Treasury
Bonds
1954-56
1953-55
1943-50
1952-54
1956-53
3/15/58
mm
¿/o
2-1/2$
2-1/2$
724.7
1,Xx 5*4
447.4
7B6.4
United States Savings Bonds (net)^/
Total bonds and notes
1/
2/
3,139.3
680.7
—
—
576.1
661.7
680.7
724.7
1,115.4
1,023.5
1 ,4 4 8 .1
1,409.3
1,409.3
4,493.7
7,633.5
Additional to 3/15/41 issue.
Including discount accrued during the year.
On June 30, 1940, the face amount of bonds, Certi
ficates of Indebtedness, Treasury Bills and Notes authorized
to be outstanding at any one time was limited by section 21(a)
of the Second Liberty Bond Act, as amended, to $45,000,000,000
-
12
.
-
and in addition under section 21(b) of that Act, Certificates
of Indebtedness and
Treasury
Notes designated "National
Defense series" were authorized to be outstanding in the face
amount of $4,000,000,000, less any retirements made from
National Defense taxes collected under the Revenue Act of
1940.
The unused borrowing authorization as of June 30, 1940,
was $1,781,000,000 under the general limitation and
$4,000,000,000 under the national defense limitation, or a
total of $5,781,000,000.
The Public Debt Act of 1941, approved February 19,
1941, effective March 1, 1941, amended the Second Liberty
Bond Act, as amended, bv rerealinv the special National Defense
series limitation, and bv increasinr the limitation on the
general borrowing rower under the Second Libertv Bond Act, as
amended, to $65,000,000,000.
As of June 30, 1941, the unused
borrowing authorization under this limitation was $15,506,411,269
as shown bv the following statement:
13 STATUTORY DEBT LIMITATION AS OF JUNE 30, 1941
Total face amount ox bonds, savings bonds, certificates,
bills, notes, savings certificates, stamps, etc.,
which may be outstanding at any one time
$65* 000, 000,000
Outstanding as of June 30, 1941 :
Interest-bearing:
Bonds Treasury
Savings (maturity
value)-*
Adjusted Service
Treasury notes
Certificates of
indebtedness
Treasury bills
(maturity value)
$30,215,059,200
5,424-, 014,225
74.0.720,4-06
$36,379,793,331
$ 9,026,068,500
,
,
.,
2 292 300 000
1,603.196,000
Matured obligations, on
which interest has ceased
12.92L.564-.500
$49,301,358,331
192,230.400
Face amount of obligations
issuable under above authority
49-493.588,731
$15.506,411,269
Reconcilement with Daily Statement of the United States Treasury
June 30. 1941
Total face amount of outstanding public debt obligations
issued under authority of the Second Lioerty Bond Acu,
as amended
Deduct, unearned discount on Savings bonds (difference
between current redemption value and maturity vaLuo)
Add other public debt obligations outstanding but not
subject to the statutory limitation:
Interest-bearing (pre-war, etc.)
$
196,102,330
Matured obligations on which interest
has ceased
12,769,460
Bearing no interest
369,044,137
Total gross debt outstanding as of June 30, 1941
$49,493,538,731
1.110.061,173
$48,333,527,553
___ 577,915.,977
$48,9,61,443,,.535.
-«-Approximate maturity value. Principal amount (current re
demption value) according to preliminary public debt state
ment $4,313,953,052.
14 CHE GUARANTEED DEBT
The contingent liabilities of the Government in the
form of ¿guarantees as to principal and interest on outstanding;
obligations of Governmental corporations and credit arencies
amounted to $6,373,000,000 on June 30, 1941, as compared with
$5,532,000,000 on June 30, 1940, an increase of $841,000,000.
A statement of those items as of June 30, 1940, and June 30,
1941, is as follows:
rUARMTESD BY THE UNITED
1940 AND JUNE 30 , 1941 1/
is of dollars)
1940
Commodity Credit Corporation .....
Federal Farm Mortgage Corporation ,
Federal Housing Administration ....
Home Owners’ Loan Corporation .....
Reconstruction Finance Corporation
United States Housing Authority ...
407
1,271
7
2,637
1,096
114
5 ,5 3 2
1/
1941
1941
Increase (/)
Decrease (-)
696
/
1,271
17
2,421
/
1,7 4 2
289
10
216
646
226
/
/
112
6,373
i
341
Does not include obligations held directly by the Treasury.
Market issues of guaranteed obligations offered bp tlie
Treasury on behalf of Governmental agencies during the fiscal
vear 1941, including refundinp; operations, were as follows:
Agency and
Title of Issue
Commodity Credit Corporation
Notes:
Series F
Reconstruction Finance Corpo
ration Notes:
Series U
Series V
United States Housing
Authority Notes:
Series E
Face Amounts
Issued
(In Millions)
Maturity
Date
Rate
8/1/40
5/1/43
3/4/
jf 289.5
4 /17 / 4 1
7/3£
4/17/41
10/15/42
7/15/43
1-1/&%
319.9
324.4
11/1/40
11/1/41
1/4/
112.1
issue
Date
0 1 ,045.9
Total
A N D INV:ESTMENTS
The Governmentfs interest in the net assets (excluoinv
cash on denosit with the Treasurer of the United States) renresented by loans and other investments of Governmental corpora
tions and credit agencies amounted to $3,022,000,000 as oi
May 31, 1941, as compared with $3,427,000,000 on May 31, 1940,
a net decrease of ^405,000,000.
TREASURY FINANCING OPERATIONS
Durinr the fiscal year 1941 new issues of Treasury
Notes, Treasury Bonds, and United States Savinrs Bonds (in
cluding discount accrued durinr the year) sold to the public
agrrerated $7,633,500,000 as compared with $4,520,000,000
durinr the fiscal year 1940.
The computed rate of interest
on all such new issues was 2.14$ as compared with the com
puted rate of 1.832$ on similar issues for the fiscal year
1940.
Armroximately
40$ of the securities issued in 1940
4»JL
V
were short-term, whereas only
of those issued in 1941
were of this character.
The amount of Treasury Bills outstanding increased
from $1,302,000,000 on June 30, 1940, to $1,603,000,000 on
June 30, 1941.
' The Treasury refunded three issues of Treasury notes
maturing during the fiscal year 1941, an issue of Treasury
Bonds which was called for redemption on March 15, 1941, and
an issue of Treasury Bonds maturing on August 1, 1941, agpreratine in all $3,297,069,950.
Of this aggregate amount
of maturing notes and maturing and called bonds, $3,139,824,150
17
were exchanged for an equivalent amount of new Treasury Notes
and Treasury Bonds.
The annual interest charge on the maturing
notes and bonds exchanged amounted to $69,397,969, equivalent
to an annual rate of 2.21$; whereas, the annual interestchar re on the new issues amounts to $68,141,008, equivalent
to an annual rate of 2.17$.
The saving in the annual interest
charge of more than $1,000,000 was accomplished despite the
fact that about 60$ of the securities refunded into Jpng term
bonds were short notes.
Because of the continuation of the disturbed condi
tions throughout the world during the last fiscal year, the
Treasure continued the policy adopted in 1940 with respect to
its financing operations.
The Treasury*s cash offerings of
securities were made when market conditions Wer'6 most favor
able.
The refunding of Treasury obligations maturing on
December 15, 1940, which were the first obligations maturing
in the fiscal M
year* was anticipated
by
J.
v the Treasury
v on
*
October 7, 1940.
The holders of Treasure Notes maturing
18 March 15, 1941, and Treasury Bonds called for redemption on
that date, were riven an opportunity to exchange such notes
and bonds for new notes and bonds dated March 15, 1941.
On
March 31, 1941, the Treasury anticipated the June 15, 1941,
maturity of Treasury Notes by offering a new bond issue and
additional notes of the series issued March 15, 1941, in ex
change for such maturing notes.
Similarly, on June 2, 1941,
the Treasury anticipated the Aurust 1, 1941, maturity of
treasury Bonds by offering a new bond issue and additional
notes of the series dated March 15, 1941, in exchange for the
maturing bonds.
The Treasury also handled three financing
operations of arencies authorized to issue obligations guaran
teed as to principal and interest by the United States.
The Treasury first issued United States Savings Bonds
in March, 1935, and has kept them continuously on sale since
that time.
The bonds issued prior to April 30, 1941, were
sold on a discount basis and matured in 10 years.
They
yielded about 2.90^ if held to maturity but could be redeemed
prior to maturity, after 60 days from issue date, at a smaller
rate of income.
ese bonds were limited to $10,000 maturity
19 value purchased by any one owner in any calendar year.
On
April 1, 1940, further sales of such bonds were limited to
individuals.
On Mav 1, 1941, the Treasury offered three new issues
of United States Savings Bonds, designated as Defense Savings
Bonds of Series E, and. Defense Series F and G.
Series E, tne
successor to those issued prior to April 30, 1941, are issued
on a discount basis and mature in 10 years.
The yield on this
series is about 2.90$ if held to maturity and at lesser rates
if redeemed nrior to maturity.
Series E bonds are issued only
to individuals and the amount wnich may be purchased oy any
one owner in snv one cal.eno.ar year is limioed to $5,000
maturity value.
12 years.
The other issues of Savings Bonds mature in
Series F, issued on a discount basis, yields about
2.53$ if held to maturity, and Series G, issued at par and
navina income semi-annually, yields 2.50$ if helci to maturity.
Both issues may be redeemed prior to maturity, in which event
the rate of income yielded is less.
Any person or company
may purchase Series F and G Savings Bonds, except commercial
banks which accept demand deposits.
One owner may not pur
chase in any one calendar year more than $50,000, issue price
of Series F or G Savings Bonds or of the two series combined.
Receipts and redemptions on account of Savings Bonds
during 1941, as compared with prior years, were as follows:
Fiscal Year
Receipts
Redemptions
1941
$1 ,5 5 7 ,000,000
$148,000,000
19^0
1 ,1 5 1 .000,000
114,000,000
1939
7 1 2 ,000,000
82,000,000
193S
5 0 5 ,000,000
6 7 ,000,000
1937
5 2 0 ,000,000
3 6 ,000,000
19 36
2 6 5 ,000,000
1 1 ,000,000
1935
6 3 ,000,000
1 ,000,000
The Treasury announced on May 27, 1941, that provision
had been made for a special issue of bonds of the United States,
designated 2 per cent depositary bonds, which may be subscribed
for at par by depositaries and financial agents of tne Treasury.
The bonds will bear interest at the rate of 2% per annum,
payable on a semiannual basis, from the date payment therefor
is received, and will mature 12 years from such date.
They
may be redeemed at the option of tne United States or of the
depositaries and financial agents, in whole or in part, at par
and accrued interest, at any time, upon not less than 30 nor
more than 60 days’ notice in "writing given by either party to
the other.
Bonds will be issued in registered form only in the
name of the Treasurer of the United States in trust for the
depositaries and financial agents to which they are allotted
and they will not be transferable.
They will be acceptable
as collateral to secure deposits of Federal funds with,, and the
faithful performance of duties by, depositaries and financial
agents and may not be obtained or used for any other purpose.
No depositary bonds -were issued prior to June 30, 1941.
TREASURY ISSUES
The financing on July 22, 1940, which was announced
on July 11, 1940, consisted of an offering to the public for
cash, at par and accrued interest, of $600,000,000, or there
abouts, of 2-1/4% Treasury Bonds of 1954-56, maturing June 15,
1956.
In addition to the public offering, provision was made
to sell $50,000,000 of these bonds to Government investment
accounts.
For the benefit of small investors, preferential
allotment was given to subscriptions for $5,000 and under,
where delivery in registered bonds 90 days after the issue
date was specified.
A face amount ox $o80,692,350 of .treasury
Bonds of 1954-56, including $50,000,000 sold to Government
investment accounts and about $39,000,000 on preferred allotments
was issued.
On September 25, 1940r, the holders of $737,161,600
of 1-1/2% Treasury Notes of Series C-1940, maturing December 15,
1940, were offered the privilege of exchanging such notes for
2% Treasury Bonds of 1953-55, dated October 7, 1940, and maturing
June 15, 1955.
Exchanges were made par for par, with interest
adjustment as of October 7, 1940.
invited.
Cash subscriptions were not
The face amount of Treasury Bonds of 1953-55 issued
in exchange for the C-1940 Notes was $ /24,o77,900.
The December 13, 1940, financing, announced on
December 11, consisted of an issue of 3/4# Treasury Notes of
Series B-1945, National Defense Series, dated December 18, 1940,
maturing December 15, 1945.
These notes were offered for cash
subscription only and the offering was for $500,000,000, or
thereabouts.
A total of $530,838,700 face amount of this
series of notes was issued.
On January 23, 1941, there was announced an offering
to the public for cash, at par and accrued interest, of
$600,000,000, or thereabouts, of 3/4# Treasury Notes of Series
D-1944, National Defense Series, dated January 31, 1941, due
September 15, 1944.
There were $635,064,400 face amount of
notes of this series issued.
The financing on March 15, 1941, announced on
February 25, 1941, consisted of an issue of 2% Treasury Bonds
of 1948-50, maturing March 15, 1950, and 3/4* Treasury Notes;
of Series D-1943, maturing March 15, 1943, both offered in
exchange for the $544,870,050 of 3-3/8* Treasury Bonds of
-231941-43 called for redemption on March 15, 1941, and $676,707,600
of 1-1/2$ Treasury Notes of Series A-1941, maturing March 15,
1941,
The amount of Treasury Bonds of 1948-50 issued in exchange
for the called 3-3/8$ Treasury Bonds of 1941-43 was $481,656,000,
and the face 3sjnoun
ojC Treasury Notes of Series D-1943 issued in
exchange for the called bonds was $4,886,600, while $633,712,400
of the maturing 1-1/2$ Treasury Notes of Series A-1941 were
exchanged for Treasury Bonds of 1948-50 and $27,513,800 of the
maturing notes were exchanged for Treasury Notes of Series D-1943.
A further financing operation was conducted on
March 31, 1941, after announcement on March 19, 1941.
It
consisted of an offering to the public for cash at par and
accrued interest of $500,000,000, or thereabouts, of 2-1/2$
Treasury Bonds of 1952-54, maturing March 15, 1954.
In addi
tion to the cash offering, the holders of $503,877,500 out
standing 1-3/8$ Treasury Notes of Series B-1941, maturing
June 15, 1941, were offered the privilege of exchanging such
notes for the 2-1/2$ Treasury Bonds of 1952-54 or for an
additional amount of the 3/4$ Treasury Notes of Series D-1943,
dated March 15, 1941, the exchanges in either case to be made
par for par, with interest adjustments as of March 31, 1941.
In addition to the cash offering for public sub
scription, $50,000,000, or thereabouts, of 2-1/2$ Treasury
-24-
Bonds of 1952-54 were made available for allotment to Govern
ment investment accounts against cash payment.
For the benefit
of small investors, preferential allotment ’was given to cash
subscriptions for $5,000 and under where delivery in registered
bonds 90 days after issue date was specified.
The amount of
Treasury Bonds of 1952-54 issued on cash subscriptions,
including allotments to Government investment accounts and
about $37,000,000 on preferred allotments, was $576,141,650.
Of the 1-3/8;? Treasury Notes of Series B-1941, maturing June 15,
1941, $447,423,200 were exchanged for 2-1/2% Treasury Bonds of
1952-54, and $32,639,300 were exchanged for Treasury Notes of
Series D-1943.
The financing on June 2, 1941, announced on May 22,
1941, consisted of an offering for cash of $600,000,000, or
thereabouts, at par and accrued interest, of 2-1/2% Treasury
Bonds of 1956-58, maturing March 15, 1958.
At the same time
holders of $834,453,200 of outstanding 3-1/4% Treasury Bonds
of 1941, maturing August 1, 1941, were offered the privilege
of exchanging them for the 2-1/2% Treasury Bonds of 1956-58
or for an additional amount of the 3/4% Treasury Notes of
Series D-1943, dated March 15, 1941, and maturing March 15,
1943, the exchanges in either case to be made par for par, ‘with
interest adjustments as of June 2, 1941.
Treasury Bonds of
1956-58 issued for cash amounted to $661,750,800 and $786,390,950
.-25of such bonds were issued in exchange for the 3-1/4$ bonds
of 1941 maturing August ft, 1941.
An additional amount of
$924,000 of 3/4$ Treasury Notes of Series D-1943, dated March 15,
1941, were issued in exchange for the 3-1/4$ Treasury Bonds of
1941.
ARANTESD ISSUES
Commodity Credit Corporation
On July 24, 1940, the Secretary of the Treasury, on
behalf of the Commodity Credit Corporation, announced an
offering, for cash at par and accrued interest, of $250,000,000,
or thereabouts, of 3/4$ notes of Series F of tne Corporation,
dated August 1, 1940, and maturing May 1, 1943.
A total of
$289,458,000 face amount of this series of notes was issued.
United States Housing Authority
On October 24, 1940, the Secretary of the Treasury,
on behalf of the United States Housing Authority, announced
an offering, for cash, at par and a,ccrueo. intexCot, o.^.
$100,000,000, or thereabouts, of one-year notes of tne
Authority designated I,/4/o HeDtes of Series E,
1940, due November I y 1941.
A tot al of $112,
amount of notes of thi.§ series
t!\ro q
V» u u
issued.
Reconstruction Finance Corporation
On April 9, 1941, the Secretary of the Treasury, on
behalf of the Reconstruction Finance Corporation, offered for
-26cash subscription, at par and accrued interest, two series
of notes of the Corporation, in the amount of $300,000,000,
or thereabouts, of each series.
A face amount of $319,895,000
of 7/8% Notes of Series U, dated April 17, 1941, maturing
October 15, 1942, was issued, and a face amount of $324,397,000
of 1-1/8% Notes of Series V, dated April 17, 1941, maturing
July 15, 1943, was issued.
In addition to the above operations involving new
issues, the following maturing securities during 1941 were
redeemed:
Home Owners*Loan Corporation
On May 15, 1941, an issue of 5/8% Series L bonds of
the Home Owners’Loan Corporation matured.
Provision was made
by the Corporation for the cash redemption of these bonds
amounting to $190,837,900.
-oOo-
TREASURY DEPARTMENT
Washington
Press Service
FOR IMMEDIATE RELEASE,
Wednesday, July, 2* 194U
t 7
^
IBS
tec
Secretary of the Treasury Morgenthau today announced the final subscription
p
and allotment figures with respect to the current offering of 1 percent notes of Series
lai
W of the Reconstruction Finance Corporation«
Subscriptions and allotments were divided among the several Federal Reserve
Icons
Districts and the Treasury as follows t
Federal
Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St« Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
Total Subscriptions
Received from Holders
of Series N Notes Tendered for Purchase
(Allotted in Fulll
irren
Total Other
Subscriptions
Received
Total Other
Subscriptions
Allotted
0i
D.
Total
Subscription
Allotted
___________
Sera,
ral
|Ive
$ 8,AAA,000
U S , 437,000
4.224.000
0 ,270,000
1.453.000
1.372.000
24,330,000
1.405.000
1.053.000
4.741.000
1.199.000
.
2 386.000
— ¿kZsM O
$209,961,000
$ 394,566,000
2,315,704,000
297.375.000
342.518.000
156.694.000
$ 27,839,000
162 , 605,000
21 , 010,000
24.295.000
2 4 1 5 0 2 .0 0 0
21.024.000
48.794.000
8.584.000
6.973.000
5.299.000
6.249.000
17.999.000
648.000
$342,695,000
.
.
686.377.000
110 9 2 1 .0 0 0
97.043.000
73.002.000
83.971.000
256,027,000
— ,....9,350,000
$5,064,950,000
.
11 3 7 6 .0 0 0
$ 36,283,00),
311,042,00)
25.234.000
32.565.000
12. 829.000
22, 396,000
73.124.000
9.989.000
riet
im
Ik
PI I iäelphi
i| elai
8.026.000 i fond
10 040.000 I la
.
7.448.000 fj ijo
20 ,385,000 « iouis
3.295.000 Ì eapolis
$572,656,000 Ills City
m '
TREASURY DEPARTAIENT
Washington
Press Service
No. 26-25
FOR IMMEDIATE RELEASE,
Wednesday, July 2, 194-1
Secretary of the Treasury Morgenthau today announced the
final subscription and allotment figures with respect to tho
current offering of 1 percent notes of Series W of the
Reconstruction Finance Corporation.
Subscriptions and < llotments were divided among the
several Federal Reserve Districts and the Treasury as follows:
Federal
Reserve
District
Total Other
Subscriptions
Received
Total Subscriptions
Received from Holders
of Series N Notes Ten
dered for Purchase
(Allotted in Full)
$ 8,444,000
Boston
148,437,000
Jfew York
4,224,000
Philadelphia
8,270,000
Cleveland
1,453,000
Richmond
1,372,000
Atlanta
24,330,000
Chicago
1,405,000
St, Louis
1,053,000
Minneapolis
4,741,000
Kansas City
1,199,000
Dallas
San Francisc o
2,386,000
2,647,"00
Treasury
$209,961,000
TOTAL
$
394,566,000
2,315,704,000
297,375,000
342,518,000
156,694,000
241,502,000
636,377,000
110,921,000
97,043,000
73,002,000
83,971,000
256,027,000
9,250,000
$5,004,950,000
-OoO
Total Other
Subs cr ipt ions
Allotted
$ 27,339,000
162,605,000
21,010,000
24,295,000
11,376,000
21,024,000
48,794,000
8,584,000
6,973,000
5,299,000
6,249,000
17,999,000
648>000
"1362,695,000
Total
Subscriptions
Allotted
$ 36,283,000
311,042,000
25,234,000
32,565,000
12,829,000
22,396,000
73,124,000
9,989,000
8,026,000
10,040,000
7,448,000
20,385,000
3,295,000
$572,656,000
FOR IMMEDIATE RELEASE,
July 2, 1941.
Bonds.
The check was signed by Thomas Kennedy, ^ecretary-plireasurer of the
union, and countersigned by
Lewis^
Tne check is to be invested in Series
G bonds and represents the limit which any one individual or organization may
buy during one year.
Philip Murray, head of the C
nited Mine
Workers Union is a jM^pfc^tfisited Secretary Morgenthau several weeks ago and
assured him of the full cooperation of the C. I. 0. j
A^ that time he not only agreed to endorse Defense Bonds and to
spread information about them throughout the
organization, but
also expressed the hope that individual unions in the C. I. 0. would invest
as much as possible in the new Defense securities.
Secretary Morgenthau announced that Governor Eugene Talmadge of
Georgia has accepted the honorary chairmanship of his state committee for
organization of the W t 'liTi'i'itlj^giaBBa^S»Savings program.
This brings to
twenty the number of Governors who have agreed to serve in the campaign
to sell Defense
%masa&^Bonds and Stamps.
-ooOoo-
ECL
TREASURY DEPARTMENT
Washington
FOR RELEASE
-'jfoes<^ay3
1> 1941
Press Service
Secretary Morgenthau announced today that Governor Eugene
Talmadge of Georgia has accepted the honorary chairmanship of his
state committee for organization of the National Defense Savings
Program.
This brings to twenty the number of Governors serving
in the campaign to sell Defense Savings Bonds and Stamps.
4
-
0O0 -
July 1, 19A1
FOR IMMEDIATE RELEASE
The Treasuiy today received a $50,000 check from John L. Lewis*s
union, The United Mine Workers of America, to be invested in Defense Savings
Bonds.
The check was signed by Thomas Kennedy, Secretary-Treasurer of the
union, and countersigned by Mr. Lewis.
The check is to be invested in
Series G bonds and represents the limit which any one individual or organiza
tion may buy.
Philip Murray, head of the C.I.O., of which the United Mine Workers
Union is a part, visited Secretary Morgenthau several weeks ago and assured
him of the full cooperation of the C.I.O. in the Defense Bond program.
At
that time he not only agreed to endorse Defense Bonds and to spread informa
tion about them throughout the C.I.O. organization, but also expressed the
hope that individual unions in the C.I.O. would invest as much as possible
in the new Defense securities.
^ K.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, July 2, 1941.
Press Service
No. 26-26
The Treasury today received a $50,000 check from the
I United Mine Workers of America for investment in Defense
Savings Bonds.
The check was signed by Thomas Kennedy,
secretary-treasurer of the union, and countersigned by
John L. Lewis, its president.
The check is to be invested
in Series G bonds and represents the limit which a.ny one
individual or organization may buy during one year.
Philip Murray, head of the Congress of Industrial
| Organisations, of which the United Mine Workers Union is a
member, visited Secretary Morgenthau several weeks ago and
)
assured him of the full cooperation of the C. I. 0 . in the
National Defense Savings campaign.
At that time he not only
agreed to endorse Defense Bonds and to spread information
about them throughout the organization, but also expressed the
j hope that individual unions in the C. I. 0. would invest as
much as possible in the new Defense securities.
Secretary Morgenthau announced that Governor Eugene
I Talmadge of Georgia has accepted the honorary chairmanship of
his State committee for organization of the Savings program.
I This brings to twenty the number of Governors who have agreed
to serve in the campaign to sell Defense Bonds and Stamps..
roOo-
2
I
Norway, Sweden and Italy are the only European countries
•*5r*
from which imports have
practically
( ^ surprising shift in the movement of commerce away from
Europe and Asia to Latin America has taken place, imports from Central
and South America for April being nearly double in value compared to
those of
1
9
4
0
^
I^JBxport shipments also have shown a tremendous gain.
Under
the Export Control Act, which became effective in Julv 1940, licenses
are required to export from the United States any commodities deemed
necessary for our national defense.
\
t
^As in the case of imports, the exports relate directly to
war materials, the Customs Bureau reported.
The list includes arms,
ammunition^ and implements of war, tin, aluminum, alloys, rubber,
wool, certain chemicals, metal-working machinery and tools essential
to the manufacture of airplanes, tanks and other w a r ^
..•-'acMru-tor.
F O O Ë E ffil’S-Ë, AFTEKÍJUUW "PAPERS
mmBSSÜÜ
1
UHNiaBa^
>N,
x/f
were
Customs receipts for t h e .riscal year
$3 9 2 ,0 0 0 ,0 00, as contrasted with $349,000,000 for the preceding
~3 (yhO,(r<^> ^
fiscal year - an increase of'
Despite shipping losses, a steady stream of imports from Great
Britian has been flowing into this country all year, Mr. Johnson
said. Wool, woolen goods, undressed furs, cut diamonds, whisky and
tin are among the commodities moving from English ports. The only
M M n o t e d
in imports from British*tuuniLf
t
was in rubber
coming from British M alaya, i^tr^Tothe large reserve of crude stored
here earlier in the year, -ft linen isApermittea to leave England or
North^Ireland, where it is manufactured, due to war needs
U
m* r * h
n
t
i
nf
l
d oolar ody war on Russia, asiie had shippe
>ds,>
lts
described ap«!1triflfrftgtt by Customs ¿gehTsjf througH
Russia over the trans-Siberian railroad to Vladivostok, whence it
was shipped by .boat to San Francisco and other Pacific Coast ports.
Notwithstanding her subjugation by Germany, France has contin
ued shipments to the United^States, using a route across the Mediterranean to Oran
overland to Casablanca
and thence to Martinique, from which possession shipments
come to our Eastern and Southern ports.
I n c r e a s e d imports
reflected
to the U n i t e d States, xexoxdxdxby as
Increased imports to the United States recorded during
the fiscal year ended June 3 O 4 are largely a result of
hostilities in E u r o p e ,Asia and Africa, as well as National Defens
activities of our own government, 1 ti mmn rih « w irn T .ffljTqi 1iy
Commissioner of Customs William R * J o h n s o n ^
submit froA i-te1"fiscal r tpm* fr-'to ,
TREA SURY DEPARTMENT
WASHINGTON
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON PAPERS,
Thursday, July 3, 1941.
7/2/41
'
Press Service
No.
26-27
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON PAPERS,
Thursday, July 3, 1941.
772/41
-------- --------------------
Press Service
No. 2G-27
iULT)0X*ts to the United States recorded
during the xiscal year ended June 30 are largely a result
of hostilities in Europe, Asia and Africa, as well as
National Defense activities of our own Government, Com
missioner of Customs William R* Johnson said today*
Customs receipts for the 1941 fiscal year were
$392,000,000, as contrasted with $349,000,000 for the pre
ceding fiscal year - an increase of $43,000,000.
Despite shipping losses, a steady stream of imports
from Great Britain has been flowing into this country all
year, Mr. Johnson said.
Wool, woolen goods, undressed furs,
cut diamonds, whisky and tin are among the commodities
moving from English ports.
The only decline noted in imports
from British sources was in rubber coming from British
Malaya, which was due to the large reserve of crude stored
here earlier in the year.
Linen is not permitted to leave
England or Northern Ireland, where it is manufactured, due
to British war needs;
- a Until its declaration of war on Russia, Germany
had shipped poods, described by Customs agents as a
"trifling" amount, through Russia over the trans-Siberian
railroad to Vladivostok, whence it was shipped by boat
to San Francisco and other Pacific Coast ports.
Notwithstanding her subjugation by Germany, France
has continued shipments to the United States, using a
route across the Mediterranean to Oran, Algeria, overland
to Casablanca, Morocco, and thence to Martinique, from
which possession shipments come to our Eastern and Southern
ports.
Norway, Sweden and Italy are the only European countrie
from which imports have practically ceased.
A surprising shift, in the movement of commerce awav
from Europe and Asia to Latin America has taken place, imporfrom Central and South America for April being nearly double
in value compared to those of the 1940 fiscal year.
Export shipments also have shown a tremendous gain.
Under the Export Control Act, which became effective in
Juiy, 1940, licenses are required to export from the United
States any commodities deemed necessity for our National
Defense.
- d As in the case of imports, the exports relate directly
to war materials, the Customs Bureau reported.
The list
includes arms, ammunition and implements of war, tin,
aluminum, alloys, rubber, wool, certain chemicals, metal
working machinery and tools essential to the manufacture
of airplanes, tanks and other war material*
- 0O 0-
7
EEEVIDESTO PAYMENTS TO CREDITORS OF INSOLVENT NATIONAL
BANKS AUTHORIZED DÜRING THE MONTH ENDED
__________________JUNE 30. 1941___________________
Name and Location of Bank
Nature of
Dividend
Date
Authorized
Number and
Percentage
of Dividends
Authorized
The First Nat!l* Bank of
Gary, Indiana
Regular
6-25“41
6th
10*
The National Bank of
Defiance, Ohio
Final
6»26-41
6th
6.25%
The Alderson Nat*1,Bank
Alderson, West Virginia
Final
6*20^4i
6th
The Commercial Nat’l.Bk of
Fond du Lac, ^.sconsin
Final
6-26-41
6th
Distribution
of Funds by
Dividend
Authorized
Total
Percentage
Authorized
Dividends
to Date
Number of
Claimants
Amount
Claims
Proved
H.5%
7,168
$ 1,683,200
72,000
86.25*
2,307
873,000
1.5%
34,400
68.53*
1,240
457,000
4.18*
96,500
96.18*
9,642
2,307,800
$ 168,300
TREASURY DEPARTMENT
Comptroller of the Currency
Washington
FOR RELEASE, MORNING NEWSPAPERS
Press Service
Turkic ~ > ?
During the month ended June 30, 1941, authorizations
were issued to receivers for payments of dividends in four in
solvent national banks*
Dividends so authorized will effect
total distributions of $371,200 to 20,357 claimants who have
proved claims aggregating $ 5 ,3 2 1 ,000 , or an average percentage
payment of 6*93#*
The smallest and largest individual dividend
percentages authorized were 4.IB# and 10#, respectively, while
the smallest and largest receivership distributions were
$34,400, and $168,300, respectively.
Of the four dividends
authorized one was for a regular dividend payment, and three
were for final dividend payments*
Dividend payments so authorized
during the month ended June 30, 1941, were as follows:
TREASURY DEPARTMENT
Comptroller of the Currency
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday, July 3, 1941.
Press Service
N o • 26 - 28
During the month ended June 30, 1941, authoriza
tions were issued to receivers for payments of dividends
in four insolvent national banks.
Dividends so authorized
will effect total distributions of $371,200 to 20,357
claimants who have proved claims aggregating $5,321,000,
or an average percentage payment o r e . 98$.
The smallest
and largest individual dividend percentages authorized were
4,18$ and 10$, respectively, while the smallest and largest
receivership distributions were $34,400, and $168,300,
respectively.
Of the four dividends authorized one was for
a regular dividend payment and three were for final dividend
payments.
Dividend payments so authorized during the month
ended June 30, 1941, were as follows:
DIVIDEND PAYMENTS TO CREDITORS OF INSOLVENT NATIONAL
BANKS AUTHORIZED DURING THE MONTH ENDED
________ _________ JUNE 30. lQ4l_______
_______
Name and Location of Bank
The First Natfl. Bank of
Gary, Indiana
Nature of
Dividend
Regular
Date
Authorized
Number and
Percentage
of Dividends
Authorized
6-25-41
6 th
10 $
Distribution
of Funds by
Dividend
Authorized
$
To tal
Percentage
Authorized
Dividends
to Date
Amount
Claims
Proved
Number of
Claimants
16 8,300
71.5$
7 ,16 8
$
1 ,633,200
The National Bank of
Defiance, Ohio
Final
6-26-41
6 th 8 .25 $
72,000
86 .25 $
2 ,3 0 7 -
873,000
The Alderson Nat*1 .Bank
Aldorson, West Virginia
Final
6-20-41
6 th 7 .53 $
34,4oo
68 .53 $
1,240
457,000
6- 26-la
6 th
96,500
96 .18 $
9,642
2 ,307,800
The Commercial Nat*l.Bk of
Jiond du Lac, Wisconsin
Final
4.16$
—oOO'
TREASURY DEPARTMENT
Washington
I FOR M E D I A T E RELEASE,.
Thursday, 'July'5, 1941,
t
Press Service
N o . 26-29
Sales -of Defense Savings Bonds for the month of June
amounted to $268,965,000, the Treasury Department reported
today.
In addition, $2,998,000 worth of Defense Savings Stamps
were sold.
The report on Bond sales is made up of the following
items, with figures rounded to even thousands:
Amount
(cost p r i c e )
Series E
$ 98,725,000
F
22,965,000
G
147,275,000
$268,965,000
This brings the total of Defense Savings Bond sales since
the program began on May 1 to $707,195,000, cost price.
The
total sales of Defense Savings Stamps during the period from
May 1 to June 30 amounted to $6,473,000.
-OoO-
I
- 3 TAX SBRIES - B~19U3
Notes of th is series w ill he issued in denominations of $100,
$500, $1,000, $10,000, and $100,000.
The amount o f these notes which
can he presented in payment o f taxes i s lim ited only hy the amount of
taxes due.
The Secretary w ill, however, reserve the rig h t to reject
any and a l l subscriptions.
The notes w ill provide a return of sligh tly
le ss than l/2 o f 1 per cent (about 0.^8$) a year, hut here, as in
Series A, in order to sim plify computations, the rate per cent w illnot he expressed.
I t w ill he stated as H cents a month fo r a $100
denomination, 20 cents fo r a $500 denomination, and so on.
he a schedule o f values printed on each note.
There w ill
These notes w ill he
redeemed fo r cash at the Federal Reserve Bank o f issu e , a fte r sixty
days and upon th ir ty days* advance notice at the price paid hy the
taxpayer.
-
2
-
for purchases of both series of notes can he made through the taxpayer*3
hank and the hank may credit the proceeds to its War Loan Deposit
Account, if it has such an account*
Applications can also he made
directly to the Federal Reserve Banks or to the Treasurer of the United
States*
These notes may he used to pay any Federal income taxes (current
and hack personal and corporation taxes, and excess-profits taxes).
Further details regarding these issues will he contained in the official
circular to he released about July 20,
19 ^1 .
TAX SERIES - A-19U3
Notes of this series will he issued in denominations of $25, $50»
and $100*
The amount of this series which can hejpresented in payment
of income taxes will he limited to
one taxpayer*
$1200
in any one tax year hy any
The notes will provide a return of about 1*92 per cent
a year, hut the rate per cent will not he expressed*
tion, it will he expressed at ^ cents a month,
8
cents a month, and for the
$100
$50
For a $25 denomina
denomination at
denomination at l6 cents a month.
By following this method it is made simple to coinpute the cost when
the taxpayer purchases the notes and simple both to the taxpayer and
the Collector of Internal Revenue to compute the credit that may he
applied to the taxes due.
on each note.
There will he a schedule of values printed
These notes will he redeemed for cash at the Federal
Reserve Bank of issue at any time at the price paid hy the taxpayer*
Secretary Morgenthau today announced a plan to make it easier
for taxpayers, large and small, to meet the unorecedented tax hills
9m•tarn cl
cAmlflC yaaiBiL
.
Under thij pla^ w o series of notes would he
issued as outlined helow, hoth dated August 1, 19^1, and maturing
August 1, I 9U3 .
On January
läffrof each year hereafter
new series will he
provided so that a taxpayer can always purchase notes during the
entire year in which he is receiving his income, to he used in payment
of his taxes due in the following year.
The reason for the two-year
note is to permit a taxpayer, if he so desires, to begin saving in
January of one year and
throughout that year^fUf'liis taxes
A
due in March, June, September, and December of the following year.
All notes are to he sold at par and accrued interest, if any, and
will he redeemed at any time after three months from the month of issue,
hut not before January^ 19^-2, when presented in payment of income taxes
at par and accrued interest up to and including the month in which such
taxes are paid.
notes.
Interest will not accrue beyond the maturity of the
If not presented in payment of income taxes, they will he
redeemed for cash under certain specified conditions at the purchase
price paid for the notes.
In other words, the taxpayer, in this case,
gets hack just the amount he paid for the notes and no more, j The
notes will not he registered, hut will have the purchaser’s name and
address inscribed thereon so that the Collector of Internal Revenue can
compare the purchaser’s name with that on his tax return.
not he transferable; nor can they he used as collateral.
They will
Applications
TREASURY^ DEPARTMENT
Washington
FOE IMMEDIATE RELEASE
Thursday, July 3, 1941.
Press Service
N o . 26-30
Secretary Morgenthau today announced a plan to make it easier
for taxpayers, large and small, to meet the unprecedented tax bills
reouired by the Rational Defense program.
Under this plan, two
series of notes would be issued as outlined below, both dated
August 1 , 1941, and maturing August 1 ,' 1943.
On January 1 of each year hereafter, two new series will be
provided so that a taxpayer can always purchase notes during the
entire year in which he is receiving his income, to be used in pay
I
ment of his taxes due in the following year. The reason for the
ttwo-year
.wnnote is to permit a taxpayer, if he so desires, to begin
saving in January of one year and continue throughout that year
-o save for „is taxes due in March, June, September, and December
of the following* year*
All notes are to be sold at par and accrued interest, if anv
and will be redeemed at any time after three months from the month
w issue, but not before January, 1942, when presented in payment
°f income taxes at par and accrued interest up to and including
the month in which such taxes are paid.
Oeyond the maturity of the notes.
Interest will not accrue
If not presented in payment of
-certa in m p ec if iec
■reffc-faXeB';
conditions at the purchase price paid for the notes.
In other
words, tne taxpayer, in this case, gets hack just the amount he~
paid for the notes and no more.
The notes will not be registered,-.but will have the pur
chaser’s name and address inscribed thereon so that the Collector
»
of Internal Revenue can compare the purchaser's name with that on
his tax return.
They will not be transferable ;J nor can they be
used as collateral.
Applications .for purchases of■both series of
notes can be made through the taxpayer's bank and the bank may
credit the proceeds to its Ivar Loan Deposit Account, if It has
such an account.
Applications can also be made directly to the
Federal Reserve Banks or to the Treasurer of the United States.
These notes may be used to-pay any RederaLinctme taxes
(current and back personal sind corporation taxes, and excess-profits taxes).
Further details regarding these issues vdll be
contained in the official circular to be released about
July 20, 1941.
TAX SERIES - A-1943
Notes of this series vdll be issued,jji--dsiromiiiatiQns of
$25, $50, and $100.
The amount of this series which can he‘~
- 3 presented iri'-'payment of income "tuxes will be limited to $1200 in
any one ¿ax year by any one taxpayer.
The notes-will provide
a return of about 1.92 per cent a year, but the- rate per cent
will not be expressed.
For a $25 denomination, it will be .-ex
pressed at 4- cents a month, $50~"denomination at 8 cents a'month,
and fo/ the $100 denomination at. 16 cents a month.
By following
this method it is made simple to compute the cost when- the tax
payer purchases the notes and simple, both to the taxpayer and
•the Collector of Internal Revenue to compute the credit that may
be applied to the taxes due.
printed on each note.
There will be a schedule of values
These notes will be redeemed for canhnaa
the Federal Re.serve Bank of issue at any time at the price paid
by the taxpayer.
TAX SERIES - B-1943
Notes of this series will be issued in denominahtans-of
$100,, $500, $1,000, .$ 10 ,000, and $100,000.
The amount of these
iotes which can oe pre sented in payment of taxes is limited only
by the amount of taxes due.
The Secretary will, however, reserve
the right to reject any andriairimtecriptions. Thè notes will
provide a return of slightly less than 1/2 of 1 percent- (about
0.48$) a year, but.here, as in Series..X^_lnorder to simplify
4
computations, tHe ’ate pen cent will not be expressed.
It will
be stated as 4 cents a month for a ‘ $100 denomination, 20 cents
for a $500 denomination*, and so on.
values-printed on each note.
There will be a schedule of
These notes will be redeemed for
cash at the Federal Reserve Bank of-issue, after sixty days and
upon thirty days' notice at the. price paid by the taxpayer.
ooOoo
Qfh'i ¡¿t>r
rv\o*tl& K ^«c
FOR IMMEDIATE RELEASE ,
W^4iiiuly
_
)h 'tie rtor "
1941The appointment of Ted R. Gambia fee ■■Agogon State Administrator
-rC?r&$?n ¡n
f t mem the National Defense Savings
announced today by the Treasury
Department.
Portland, Orégon,-esaé-
»liaia. o#»i[pgH!ietff
w i l l cooperate with the Defense Sayings Staff of the Treasury
in stimulating the sale of Defense Bonds and Stamps through establishment
of representative, non-partisan state and local committees to develop
community interest in the zIIhé Ak m h ë Savings program.
g^e* duties
tssSSESBSjSSBSi
Up
as State Administrator will begin
immediately^^! serving in this capacity without compensation.
ppo infernali t brings*.tilg" total of" Ofeeifee AdwiTréa ll'rTtO'l'S.tTr'Siff
..The appointment
—
of Palmet Hoyt, pub 1 ishe^gf..
***********
•
j
as chairman of thé^^^lm*«wa8yefcfeâÊ-0reSon> was announced
vm m etum aitm iim m m m ifunim m tas
-00 O 00-
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEAS!
Press Service
The appointment 'of Ted R. Gamble as Oregon State Adminis
trator for the National Defense Savings Program was announced today
by the Treasury Department,
|
cî,
'
^
Mr. Gamble, w j ^ lives in Portland, Oregon^will cooperate
with the Defense Savings Staff of the Treasury in stimulating the
sale of Defense Bonds and Stamps through establishment of represen
tative, non-partisan state and local committees to develop community
interest in the National Savings Program.
Mr. Gamble, whose duties as State Administrator will begin
immediately, is serving in this capacity without compensation.
TREASURY DEPARTM ENT
INTER OFFICE COMMUNICATION
date
TO
Mr* Schwarz
FROM
Mr. McCarty
h,
July 2, 1941
Mr. (Craves would like to have copies of this release mailed
aireetiy to the leading newspapers in Oregon and Washington. If you
wiil please send over 50 extra copies of the story to us, we will be
glad to mail them out here.
Date
Submi 11 ea
July
1941
PRESS SECTION
DEFENSE SAVINGS STAFF
NEWSPAPER RELEASE
Mr. Schwarz:
i-i-oo-hPrt release «* Appointment of
Ted K / Tgm BTe -17regonSU
For He lease July 3y 19E1__________
Vincent F . Callaiian^j
'
ApprovedLn7\sx
¡Lt*
) ^
meJl^^Date_
-na: iff/
1
E. W. Sloan
Harford Powel
V
flittedîiiljl
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, July'5, 1941.
Press Service
N q . 26-31
0 ■ AppsiiU
~®E7|g
u t
The appointment of Ted. R. Gamble, motion picture exhibit»,
in the northwest, as State Administrator for Oregon in the
Vincent I, l
National Defense Savings campaign was announced today by the
r
4
T v
an
Treasury Department.
Mr. Gamble, whose home is in Portland, Oregon, will
cooperate with the Defense Savings Staff of the Treasury in
!owel
torïill^
stimulating the sale of Defense Bonds and Stamps through
establishment of representative, non-partisan state and local
committees to develop community interest in the Savings
program.
nsation,
ïQLm *
His duties as State Administrator will begin immediately..
He is serving in this capacity without compensation.
/¿A^y&t'1
*'
m
L^ri.
«k il?
Ttm Bureau
/f y /
of Customs announced today preliminary fig u re s for
imports of co ffee subject to Quota lim ita tio n s under tlie Presidentas
proclamation of the Inter-American Coffee Agreement on A p ril 15, 1941*
The follow ing tabulation l i s t s the coffee quotas which have been
fille d ,
shows import fig u re s fo r the quotas now under telegraphic
control as of June 28, 1941.
Total imports under the other coffee
quotas are shown as of June 21, 1941*
Quota Periodi
: Revised l/
Country o f Production : Quota (lb s .)
:
Entered fo r Consumption"
: As o f (Date) :
Pounds
Quota Period - 12 months
from October 1 , 1940:
16,138,333
71,950,208
56,484,233
423,632,012
Dominican Republic
Guatemala
Venezuela
Colombia
(Import quota fille d )
ft
n
tt
ft
ft
tt
it
n
it
1j,250,722,887
10,758,933
80,691,799
2,689,700
63,880,975
26,224,775
June 21, 1941
tt
tt
It
tt
»
1,170,531,855
5,441,813
62,515,998
1,524,159
58,361,715
17,378,235
Costa R ica
Ecuador
H a iti
Peru
26,897,267
20,173,016
36,983,708
3,362,191
June 28, 1941
it
it
»
25,913,733
18,499,388
36,599,411
3,036,582
Non-signatory countries:
A l l types of coffee
47,742,641
June 28, 1941
,
46,113,117 3/
2,645,520
June 28, 1941
B ra zil
Cuba
E l Salvador
Honduras
Mexico
Nicaragua
Quota Period - A p ril 22 to
August 31, 1941, in c l:
Non-signatory countries:
Mocha coffee
1,015,996
Zj
X/ Quotas increased by Inter-American Coffee Board, as o f June 1, 1941.
2/ Under the terms o f an Executive order, e ffe c tiv e June 14, 1941, the
increased import quota fo r non-signatory countries i s subject to the
a llo ca tio n of a maximum of 20,000 bags fo r coffee o f the Mocha type
which may be entered fo r consumption from A p ril 21 to August 31, 1941,
in clusive •
TREASURY DEPARTMENT
Washington
Ml
% 88fo
FOR IMMEDIATE RELEASE,
Thursday, July 3, 1941.
Press Service
No. 26-32
The Bureau of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the President’s
proclamation of the Inter-American Coffee Agreement on April 15, 1941.
er
The following tabulation lists the coffee quotas which have been
filled, and shows import figures for the quotas now under telegraphic
control as of June 28, 1941.
Total imports under the other coffee
quotas are shorn as of June 21, 1941. •
Quota Period
j Revised l/
Country of Production: Quota (lbs.)
rt
1,171
Quota Period - 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Brazil
Cuba
El Salvador
Honduras
Mexico
Nicaragua
tr
(Import quota filled)
16,138,333
71,950,208
56,484,233
423,632,012
it
ti
it
it
tt
11
it
it
tt
1,250,722,887
10,758,933
80,691,799
2,689,700
63,880,975
26,224,775
June 21, 1941
Costa Rica
Ecuador
Haiti
Peru
26,897,267
20,173,016
36,983,708
3,362,191
June 28, 1941
11
25,913,733
18,499,388
36,599,411
3,036,532
Non-signatory countries:
All types of coffee
47,742,641
June 28, 1941
46,113,117
2.645.520
June 28. 1941
Quota Period - April 22 to
August 31, 1941, incl:
Non-signatory countries:
Mocha coffee
lé,
Entered for Consumption
: As of (Date)
Pounds
u
ti
h
tt
11
it
it
1,170,531,855
5,441,813
62,515,998
1,524,159
58,361,715
17,378,235
1 .015.996 2 /
1/ Quotas increased by Inter-American Coffee Board, as of June 1 , 1941.
V Under the terms of an Executive order, effective June 14, 1941, the
increased import quota for non-signatory countries is subject to the
allocation of a maximum of 20,000 bags for coffee of the iviocha type
which may be entered for consumption from April 21 to August 31.1941.
inclusive.
°
-oOOo-
JaMMac
-
2
-
Reserve Banks and Branches, following which public announcement will he made ty
the Secretary of the Treasury of the amount and price range of accepted bids.
Those submitting tenders will be advised of the acceptance or rejection thereof,
The Secretary of the Treasury expressly reserves the right to accept or reject
any or all tenders, in whole or in part, and his action in any such respect
shall be final.
Payment of accepted tenders at the prices offered must be made
or completed at the Federal Reserve Bank in cash or other immediately available
funds on _
July <8. 19Ul___________ .
jifichc
The income derived from Treasury bills, whether interest or gain iron
the sa,le or other disposition of the bills, shall not have any exemption, as
such, and loss from the sale or other disposition of Treasury bills shall not
have any special treatment, as such, under Bederal tax Acts now or hereafter
enacted.
The bills sha.ll be subject to est.e.te, inheritance, gift, or other
excise taxes, whether Federal or State, 'but shall be exempt from a.ll taxation
now or hereafter imposed on the principal or interest thereof by any State, or
any of the possessions of the United States, or by any local taxing authority.
For purposes of taxation the amount of discount at which Treasury bills are
originally sold by the United States shall be considered to be interest.
Treasury Department Circular Ro. 413, as amended, and this notice, prs*
scribe the terms of the Treasury bills and govern the conditions of their issue,
Copies of the circular may be obtained from any Federal Reserve Bank or Branch*
AMSA
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,,
F rid ay . Ju ly U. lQUl ------------- _•
The Secretary of the treasury, hy this public notice, invites tenders
for » IDO.OOP.OOP
or thereabouts, of
/_ ,%l_"day Treasury oills, to be issued
on a discount basis under competitive bidding.
be dated
July Q. lqUl
_, and will mature
Jsàk
The bills of this series wi
October ft,
when the face amount will be payable without interest.
19 UI-
Thofc
They will be issued in
bearer form only, and in denominations of $1,000, $5,000, $10,000, $100,000,
$500,000, and $1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and Branches up to the
closing hour, two o'clock p. m., Eastern Standard time, — Monday. July 7. -iffi
Tenders will not be received at the Treasury Department, Washington.
-
Each tender
must be for an even multiple of $1,000, and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
Fractions
It is urged that tenders be made on the printed forms and for-
j
warded in the special envelopes which will be supplied by Federal Reserve Banks j
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and
trust companies and from responsible and recognized dealers in investment secum
ties.
Tenders from others must be accompanied by payment of 10 percent of tht,
face amount of Treasury bills applied for, unless the tenders are accompanied ty
an express guaranty of payment by an incorporated bank or trust company.
Immediately after the closing hour, tenders will be opened at the feder
3
TREASURY DEPARTMENT
FOR RELEASE, MORNING NEWSPAPERS
Friday, July 4 , ' 1 9 4 1 , ......
The Secretary of the Treasury, by this public notice,
invites tenders for $100,000,000, or thereabouts, of 91-day
Treasury bills, to be issued on a discount basis
petitive bidding.
under com
The bills of this series will be dated
July 9, 1941, and will mature October 8 , 1941, when the face
amount will be payable without interest.
They will be issued
in bearer form only, and in denominations of $ 1 ,000, $5,000,
$10,000, $100,000, $500,000, and $1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and
Branches up to the closing hour, two o ’clock p.m., Eastern
Standard time, Monday, July 7, 1941.
Tenders will not be
received at the Treasury Department, Washington.
Each tender
must be for an even multiple of $ 1 ,000, and the price offered
must be expressed on the basis of 100 , with not more than
three decimals, e.g., 99.925.
Fractions may not be used.
It is urged that tenders be made on the printed forms and for
warded in the special envelopes which will be supplied by
Federal Reserve Bands or Branches on application therefor.
Tenders will be received without deposit from Incorpora
ted banks and trust companies and from responsible and recog
nised dealers in investment securities.
26-33
Tenders from others
must be accompanied by payment of 10 percent of the face amount
of Treasury bills applied for, unless the tenders are accom- '
panied by an express guaranty of payment by an Incorporated ban!
or trust company.
Immediately after the closing hour,
tenders will be opened
at the Federal Reserve Banks and Branches, following which
public announcement will be made by the Secretary of the Treas
ury of the amount and price range of accepted bids.
Those
submitting tenders will be advised of the acceptance or rejec
tion thereof.
The Secretary of the Treasury expressly reserves
the right to accept or reject any or all tenders,
in part, and his
in whole or
action in any such respect shall be final.
Payment of accepted tenders at the prices offered must be made
or completed at the Federal Reserve Bank In cash or other
immediately available funds on July 9, 1941.
The income derived from Treasury bills, whether interest
or gain from the sale or other disposition of the bills, shall
not have any exemption, as such, and loss from the sale or
other disposition of Treasury bills shall not have any special
treatment, as such, under Federal tax Acts now or hereafter
enacted.
The bills shall be subject to estate,
inheritance,
gift, or other excise taxes, whether Federal or State, but shall
be exempt from all taxation now or 'norafter imposed on tl
principal or interest thereof by any State, or any of the
possessions of the United States, or by any local taxing
authority.
Per purposes of taxation the amount of discount
at which Treasury bills are originally sold by the United
States shall be considered to be Interest.
Treasury Department Circular Mo. 418, as amended, and
this notice, prescribe the terms of the Treasury bills and
govern the conditions of their issue.
Copies of the
circular may be obtained from any Federal Reserve Bank or
Branch.
OoO-
wsàmm M&AS&msT
Washington
Pl* " * f ,t» <L
JOB SffiSdSB, MOMIKO BBWSPAPBRS,
tomgsto
¿U«i
l. X9UX.--
*o.JL~*r
t Tt m
fl» Secretary of the Treeeury anaouaced U i t evening that the tender«
fer $100,000,000* or thereabout«* of 9 1 -day freaeury hill«, to he dated
July 9 and to nature October 8, 19*1. ehi eh were offered ©a July U, were
opened at the federai Beeerv« Banke ©a July ?.
fhe detail« of this issue are as follow«t
fetal affliti for » |2II J 5 ^ « ^
fetal accepted
* 100,0US,Ö00
Range of accepted bide*
High
Low
Average prioe
- 99.990
• 99.972
- 99.976
Equivalent rate approximately O.OhO
•
«
•
0,111
«
O.O97
(6>* percent of the «went bid for at the lo* p r l œ va. Accepted)
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING
Tuesday,July iLt 1941
HfV'i/S
Press Service
No. 26-34
The Secretary of the Treasury announced last evening
that tiis tenders for $100,000,000,
91-day.Treasury bills,
or thereabouts, of
to be dated July 9 and to mature
October 8, 1941, Tillich w e r e offered on July 4, were opened
at the Federal Reserve Banks on July 7.
The details of this Issue are as follows:
Total applied for - $281,732>000
Total accepted
- 100,048,000
Range of accepted blds:
Hlgh
- 99.990 Equivalent rate approximately 0.040
Low
- 99.972
"
"
"
0 .1 1 1
Average
Price - 99.976
"
"
"
0.097
(64 percent of the amount bid for at the low price
was accepted)
- o 0 o
Ninety-two percent of the employes of tnS^Frocureifimt Division
have pledged regular purchase of Defense Savings Bonds or Stamps the
were made voluntarily by the
employes under a plan which has been offered to other ^government
departments.
In twenty-five Procurement field offices there was 100 percent
participation.
Among them were the three regional offices in Calif
ornia, Massachusetts and Minnesota, and the field offices in Arkansas,
Colorado, Connecticut, Florida, Idaho, Illinois, Indiana, Iowa, Kansas,
Kentucky, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey,
New Mexico, Oklahoma, Oregon, Tennessee, Wyoming, and Puerto Rico.
©u 7/r
FOR
'JKBSOtKSSmm-
RELEASE
i
July^> 1941»
7V - o L U - 3 r
"Am erica P referred-' a new rad io program in support o f the
N atio n a l D efense Savings campaign^ w ill be presented
network every Su n ^ ^ O T "t"eS*w eeks beginning Ju ly 13,
'r^ B * ^ ^ ^ m o e d to d ay.
The program, which w ill fe a tu re co n cert and o p e ra tic s ta rs
o f fo re ig n b ir t h , w ill be b roadcast from 1 1 « * to U s 30 a . w ? * H
P ie rre Van P aassen , author o f "Days o f Our Years^j1 and
f
The Time
^p3 Now” w ill a c t as n a rra to r.
Ja r m lla Novotna, M etro p o litan Opera soprano? L o u is Adamic,
w rite r o f Ju g o s la v ia n birthy and Dean A lfa g e , Greek a tto rn e y w ill
appear on th.e f i r s t program
Ja n Peerce and |a r th a Ostenso w ill appear Ju ly 2 0 * Efrem
Z im i& is ^ t F iS y 27
i a Dorfmann. August 9 and M ischa Elman
D
August 24-.
A
TREASURY DEPARTMENT
Washington
F O R - M E D I A T E RELEASE,
Wednesday, July 9, 1941
Press Service
iô. 26-35
"America Preferred/' a new radio program in support of
the National Defense Savings campaign, w i l l he presented on
the Mutual network every Sunday morning for ten weeks
beginning July 13, Secretary Morgenthau announced today.
The program, which will feature concert and operatic
stars of foreign birth, will be broadcast from 11 to 11.oO
I rn
p.S.Tu
Pierre Van Paessen, author of "Days of Our
Years" and "fhe Time Is No?/," will act as narrator*
Jarmila Novotna, Metropolitan Opera soprano; Louis
Adamic, writer of Jugoslavian birth, and Dean Aliage, Greek
attorney, will appear on the first program.
Jan Peerce aiid Martha Ostenso will appear July 20*
Efrem Zimbalist is scheduled for July 27, Ania Dorlnran^on
August 9 and Mischa Elman on August 24.
N i n e ty—two percent of the employes of tne ireaury s
Procurement Division have pledged regular purchase of Defense
Savings Bonds or Stamps, the Department reported.
The
pledges were made voluntarily by the employes under a plan
which has been offered to other Government departments.
2
In twenty-five Procurement field offices there was
100 percent participation.
Among them were the three
regional offices in California, Massachusetts find Minnesota,
and the field offices in Arkansas, Colorado, Connecticut,
Florida,
Idaho, Illinois,
Indiana, Iowa, Kansas, Kentucky,
Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey,
New Mexico., Oklahoma,'Oregon,
Tennessee, Wyoming, and
Puerto Rico.
-OoO-
(2 )
COTTON CARD STRIPS, COMBER WASTE, LAP WASTE, SLIVER WASTE, AND ROVING WASTE,
WHETHER OR NOT MANUFACTURED OR OTHERWISE ADVANCED IN VALUE. Annual quotas
commencing September 20, by Countries of Origin.
Total quota, provided, however, that not more than 33-1/3 percent of the
quotas shall be filled by cotton wastes other than card strips and comber
wastes made from cottons of 1 - 3 / 16 inches or more m staple length in the
case of the following countries: United Kingdom, France, Netherlands,
Switzerland, Belgium, Germany and Italy?
(In Pounds)
------ ,--------------------------Imports bept,
TOTAL IMPORTS : Established
Established
20 , 1940, to
Sept. 20 > 194& 33-1/3& of
: TOTAL QUOTA
June
28. 19Ul/
Total
Quota
to June 28* 1943:
?
Country of
Ori iH n
United Kingdom
....
fln n aiia
. . . . . . . . . . . .
i ’r'flnr'.p.
......................... •
British India ..........
Netherlands ...............
Switzerland ...............
Pp I
urn .................... ..
..............................
f.Vvi na
...............
Ii'.cnrn'h
............... .. • . • « •
, , , , , t(■ r * * ■ • • •
pTp'pmpviv .........................
.........
Total
l/
1,441,152
—
75,807
—
22,747
14,796
12,853
-
68,783
—
341,535
—
17,322
8,135
6,544
76,329
21,263
—
—
—
_
-
-
-
—
5,482,509
CO
Cuba
6 ,4 3 0
1,441,701
239,345
o
o
tr\
.Ta nan
A,323,457
239,690
227,420
69,627
68,240
44,388
38,559
_
_
1,753,329
25,443
7,088
1,599,886
—
6 ,4 3 0
Included in total imports, column 2.
$0 0
d
FOR IMMEDIATE RELEASE
July 8. 1941_____
The Bureau of Customs announced today that preliminary reports from the
collectors of customs show imports of cotton and cotton waste chargeable to the
import quotas established by the President’s proclamations of September 5, 1939,
and December 19, 1940, as follows, during the period September 20, 1940, to
June 28, 1941, inclusive.
COTTON HAVING A STAPLE OF LESS THAN l-ll/l6 INCHES (OTHER THAN HARSH OR ROUGH
COTTON OF LESS THAN 3/4 INCH IN STAPLE LENGTH AND CHIEFLY USED IN THE MANUFAC
TURE OF BLANKETS AND BLANKETING, AND OTHER THAN LINTERS). Annual quotas
commencing September 20, by Countries of Origin:
Country of
Origin
(In Pounds)
Staple length less
than 1-1/8"
: Imports Sept.
:
stablished
: 20, 1940, to
: E
Quota
: June 28. 1941
Egypt and the AngloEgyptian Sudan .....
Peru .................
British India ........
China .................
Mexico ...............
Brazil ...............
Union of Soviet
Socialist Republics .
Argentina ............
H a i t i ............. .
Ecuador ............. .
Honduras .............
Paraguay .............
Colombia .............
I r a q .................
British East Africa ...
Netherlands East
Indie s .............
Barbados ..............
Other British West
Indies l/...........
Nigeria ..............
Other British West
Africa 2/ ..........
Algeria and Tunisia ...
Other French Africa 3 /.
Total
:Staple length l-l/8" or more
:
but less than 1 -1 1 /16 "
:
: Imports Sept,
: Established : 20 , 1940, to
:
Quota
: June 28. .1941
783,816
247,952
2,003,483
1,370,791
8,883,259
618,723
131,682
83,126
4,221,714
618,723
4 3 ,4 5 1,5 6 6
2 ,056,299
64,942
475,124
5,203
237
9,333
752
871
124
195
2,240
5,070
9,271
—
2
-
435
506
—
—
—
—
29,909
71,388
-
71,388
-
12,554
21,321
5,377
30,139
-
16,004
689
—
—
—
14.516.882
5 ,14 0 ,9 76
4 5 .656.420
2/ Other than Gold Coast and Nigeria.
2/ Other than Algeria, Tunisia, and Madagascar.
2,626
3,808
2,002
1,6 3 4
-
28,331,550
1,698,997
204
-
164
1,737
—
w.
**
—
—
---- •
30f032f652_—
TREASURY DEPARTMENT
Washington
Press S e r vice
No. 2 6-36
FOR I M M E D I A T E RELEASE,
W e d n e s d a y , J u l y 9, 1 9 4 1 «
The Bureau of Customs announced today that prelirainary reports from the
collectors of customs show imports of cotton and cotton waste chargeable to the
import quotas established by the President’s proclamations of September 5, 1939,
and December 19, 1940, as follows, during the period September 20, 1940, to
June 28, 1941, inclusive.
COTTON HAVING A STAPLE OF LESS THAN 1-11/16 INCHES (OTHER THAN HARSH OR ROUGH
COTTON OF LESS THAN 3/4 INCH IN STAPLE LENGTH AND CHIEFLY USED IN THE MANUFAC
TURE OF BLANKETS AND BLANKETING, AND OTHER THAN LINTERS). Annual quotas
commencing September 20, by Countries of Origin:
Country of
Origin
(In Pounds)
Staple length less
than 1-1/8”
: Imports Sept.
:
: Established : 20, 1940, to
: June 28. 1941
Quota
Egypt and the AngloEgyptian Sudan .....
Peru .................
British India ........
China .................
Mexico ...............
Brazil ...............
Union of Soviet
Socialist Republics .
Argentina ............
H a i t i ............. .
Ecuador ..............
Honduras .............
Paraguay .............
Colombia .............
I r a q .................
British East Africa ...
Netherlands East
Indies .............
Barbados ..............
Other British West
Indies l/ ..........
Nigeria ..............
Other British West
Africa 2/ ..........
Algeria and Tunisia ...
Other French Africa 3 /.
Total
7 8 3 ,8 16
-
247,952
2,003,483
1,370,791
8,883,259
618,723
131,682
83,126
475,124
5,203
237
9,333
752
871
124
195
2,240
-
4,221,714
618,723
—
5,070
:Staple length l-l/8” or more
:
but less than l-ll/l6”
: Imports Sept.
: Established : 20 , 1940, to
:
Quota
: June 28. 1941
4 3 ,4 5 1,5 6 6
2 ,056,299
64,942
28,331,550
1,698,997
—
-
2,626
3,808
204
—
435
-
-
506
164
9,271
—
—
—
—
—
*
—
2
—
-
—
29,909
—
—
71,388
-
71,388
12,554
1,737
21,321
5,377
30,139
—
16,004
689
—
—
—
—
14.516.882
5,140,976
45.656,420
—
2j Other than Gold Coast and Nigeria.
3/ Other than Algeria, Tunisia, and Madagascar.
-
***
2,002
1,634
-
____ .i-ü— •
30.032,652__
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, July 9, 1941.
Press Service
No. 26-36
The Bureau of Customs announced today that preliminary reports
from the collectors of customs show imports of cotton and cotton
waste chargeable to the import quotas established by the President’s
proclamations of September 5, 1939, and December 19, 1940, as follows,
during the period September 20, 1940, to June 28, 1941, inclusive.
COTTON HAVING- A STAPLE OF LESS THAN 1-11/16 INCHES (OTHER THAN HARSH
OR ROUGH COTTON OF LESS THIN 3/4 INCH IN STAPLE LENGTH AND CHIEFLY
USED IN THE MANUFACTURE OF
iMi’OSTS
BLANKETING, AND OTHER THAN
LINTERS). Annual quotas commencing September 20, by Countries of
Origin:
(In Pounds)
Staple length less
than 1-1/8”
:Imports Sept.
iEstablished :20, 1940, to
:
Qp.ota
:June 28, 1941
:
:
Country of
Origin
Egypt and the AngloEgyptian Sudan .......
7S3,Sl6
Peru....................
21+7.952
British India ..........
2,003,483
China ..................
1,370,791
Mexico .................
8 ,883,259
Brazil............ .
618,723
Union of Soviet
Socialist Republics ...
1+7 5 ,121 +
Argentina ..............
5,203
Haiti ..................
237
Ecuador ................
9,333
Honduras ...............
752
Paraguay...............
8 71
Colombia.......... .
124
Iraq ...................
195
British East A f r i c a ....
2,240
Netherlands East
Indies ..... ..........
71,338
Barbados ............... .»s
—
Other British West
Indies 1/ ....... .
2 1 ,3 2 1
Nigeria ................
5,377
Other British West
Africa 2 / ............
16 ,0 0 4
Algeria and Tu n i s i a ....
Other French Africa 3/ ••
689
131,682
83,126
U, 221,711+
6lS,723
43,451,566
2 .056,299
64,942
2,626
23,331,550
1 .693,997
—
-
3,808
204
.,
5,070
9,271
2
-
1+35
506
—
«
29,909
~
164
-
_
71,338
-
12,55*+
1,737
-
30,139
-
-
—
-
2,002
1 ,631+
-
-
Total
14,516,882
5 ,11 +0,9 76
*/. uwier x;nan ¿JarDaaQs, nermuaa, Jamaica, ’
i ni
xì4er ^ an Gold Coast and Nigeria,
Otner than Algeria, Tunisia, andMadagascar,
¿J
:Staple length 1-1/8” or more
:
but less than 1-11/l6"
:Imports Sept.
: Established :20, 1940, to
:
Qp.ota
:June 28, 194l
45,656,420
and Tobago.
30 ,032,652
Up
(2)
COTTON
STRIPS COMBER WASTE, U P WASTE, SILVER WASTE, AND ROVING
rPT7 SDHETHER OR NOT MANUFACTURED OR OTHERWISE ADVANCED IN VALUE.
Annual quotas commencing September 20, by Countries of Origin:
Total quota, provided, however, that not more than 33-1/3o percent of
the quotas shall be filled by cotton wastes other than card strips and
comber wastes made from cottons of 1-3/16 inches or more in staple
length in^the case of the following countries: United Kingdom, France,
Netherlands, Switzerland, Belgium, Germany and Italy:,
(In Pounds)
Country of
Origin
United Kingdom ....
Canada ••••••••••••
Trance..... ......
British India •••••
Netherlands .......
Switzerland .......
Belgium ..........
Japan
China
Egypt .............
Cuba
Germany .........
Italy .......
Total
lJ
: Established
: TOTAL QUOTA
TOTAL IMPORTS : Established
Sept.20,1940 : 33-1/3$ of
To June 28. 1941: Total Quota
Imports Sept.
20, 1940, to
June 28.1941 1/
4,323,457
239,690
227,420
69,627
68,240
44,388
38,559
341,535
17,322
8,135
6,544
76,329
21,263
1,441,701
239,345
-
25,443
7,088
-
5,482,509
1,753,329
1,599,886
6,430
1,441,152
6,430
mm
75,807
68,783
mi
22,747
14,796
12,853
mm
mm
mm
M
3,500
Included in total imports, column 2.
ooOoo
mm
mm
mm
f
/9fl
Secretary Morgenthau today extended until August 30 j^he ti*
i or
for filing the census reports of all foreign-owned property in the United
m
States •
The census was ordered by the Secretary,with the approval
tire
of the President,on June 14 simultaneous with the issuance of the Executive
m
Order freezing the assets of all the countries in'ASurope not previously frozen
is
At that time the census reports were ordered to be filed by July 14.
id m
The Secretary called attention to the fact that the census
will relate not onljnto property in the United States belonging to countries and
m
nationals subject to freezing control, but to all other foreign countries ahl
nationals as well.
Treasury officials said that a new form for reporting the
census ^ F o r m TFR-300 ) is being drawn up, and indicated that it will be
available for distribution in about ten days.
«¡1,
Such forms may be obtained from
any Federal Reserve bank as well as from the Treasury Department.
Other banks
also will be in a position to furnish such forms.
Iti
^-¿4 to
Secretary^aid 4,hJiTit is expected that this extension
will afford ample opportunity for all persons and institutions to report all
foreign-owned property in the United States.
o
Press Service
No. 2 6 -37
Secretary Morgenthau today extended until August 30 j^ie time
for filing the census reports of all foreign-owned property in the United
States.
The census was ordered by the Secretary,with the approval
of the President,on June 14 simultaneous with the issuance of the executive
Order freezing the assets of all the countries inTSirope not previously frozen,
At that time the census reports were ordered to be filed by July 14.
The Secretary called attention to the fact that the census
will relate not onlAto property in the United States belonging to countries and
nationals subject to freezing control, but to all other foreign countries and.
nationals as well.
Treasury officials said that a new form for reporting the
census f Form TFR-300 ^ is being drawn up, and indicated that it will be
available for distribution in about ten days.
Such forms may be obtained fro*
any Federal Reserve bank as well as from the Treasury Department.
Other banks!
also will be in a position to furnish such forms.
SecretaryX3^aTM^ftab” it is expected that this extensio J
w ill afford ample opportunity for all persons and institutions to reportjil^
foreign-owned property in the United States.
TREASURY DEPARTMENT
Washington
«îs Senio ÎOR IMMEDIATE RELEASE,
So,26-37 [Wednesday, July 9, 1941.
Press Service
No. 26-37
Secretary Morgenthau today extended until August 30, 1941, the
a
time for filing the census reports of all foreign-owned property in
:yii th«am
the United States.
The census was ordered by the Secretary, with the approval of
the President, on June 14 simultaneous with the issuance of the
Executive Order freezing the assets of all the countries in
eof thek
continental Europe not previously frozen.
previo«
At that time the census
reports were ordered to be filed by July 14,
The Secretary called attention to the fact that the census
b r July Hi
will relate not only to property in the United States belonging to
fact that
1S£ to G W
countries and nationals subject to freezing control, but to all
other foreign countries and nationals as well.
Treasury officials said that a new form for reporting the
census (term TER-300) is being drawn up, and indicated that it m i l
be available for distribution in about ten days.
PrtffP
'or»w
Such forms may be
obtained from any Federal Reserve bank as well as from the Treasury
Department.
Other banks also will be in a position to furnish such
forms.
ascay,0efl5'!
9%rises
Secretary Morgenthau said that it is expected that this
extension will afford ample opportunity for all persons and
institutions to report all foreign-owned property in the
United States.
i#
ooOoo-
•*7 X# l t U to A])' 21, 1 9 U cm Serlas D sotos «2*93508 P** IX,000) «111 bo
paid following »cooptane* of Urn notami
f . m o m , paonsioHs
X.
Am fiscal «conta «f tbs United Stato», Pedona B o s o m Banks aro author,
lasd and requostod ta rocoivo subscriptions, ta nato allotacmta «s ths baals and
v ta tka — « « t o indicated by U w Searatary od Una Treasury to tbs Foderai ft»,
a s m ft»"*« of the respective distriots, to imana aUotaont notice«, to recoir*
payasnt far notan allotted, to aake delivery of nataa on fnlX-*aid aftbaeriptisai
«tietted, and they aay lasas intoria reeeipts pending delivery of the definiti«
a.
Th# Secretary <*f th# Trwaaury nay a t any U a » f «T f w
prescribe m ^pIononUl or aawadatory m l o o and regulation#
i l a * to Um#
gerwndog the etter*
ing, which will ho ao— onioatod prowptly to th« Föderal Sooorf« Banke,
warn m m m m v, j h .#
Secretary of th# freaaury.
sríii ip-.i |
m
Mt u
■
agendas.
Others than banking inetitutiona «111 net be per
altad te «atar eubecrlptlone exoept far thalr
m
m
aecount.
Subacrlptlon,
trm . baldara of Serias B note* tendered far purobase should be aeeoapaalsd by
«aeh note* to a par anount aquel to tha par anount af netas of Sedea 0 eobasrlbad far. Othor aubacrlptiona freo bank* and traat eanyanlas for thalr m
aooount «111 be raerirad «Ithout depoeit but «111 be raatrlctad in eaoh cae* to
R^fr
an anount not exceeding one-halí of tha combinad capital and aurplua af the eub-
m/'^i
acrlbing u*an or traat eeoyoay* Othar eubecrlptlone fron all othara rat ha
If^sf
w S
auiinapanleit by pajnant of 10 yeraent of the anount of netas epplied for.
2. tha Saorataiy of the traoeuiy raearraa tha rlght te rajaet aay eub-
jip
P i
acrlption, in «*«1« or in yert, te allot leas than tha anount of aotee epplied
fer, and te eleee the boeka as te eny er all aubacrlptiona st aay tina «lthwt
P m SS
til
netlas) and aay aetlon ha aay taha ln thaaa respecta ahall ba final. Subjaet
te thaaa raseraetlone, aubacrlptiona fien beldara of Sartas D netas *ho tender
than for purohaae hereunder «111 ba allettad la fhU.
Allotnent notice» «111
be saot e«t prwtitlj «yen alletnent, and the besla of tha •llntiwnt «111 ba
W^M
1||
yebllsly armeunead.
IT.
B
pagp
*«
g»
»
gE
£i
igpri*
p5
y8
6
np$&
■KHgteg^
I
PATKKKT
1. Paynent at yar and aaeraad intaraat, l f any, far netaa
andar a n t ba aada er eenylatad an «r befara «July
allotted
tare-
,1941« or en Inter ellet-
21
nent. In avary «ase ritan paynent i* not *o eonpleted, tha paynent rith applleatlen up to 10 paraant of the anorat of netaa nppllod for «hall, uyaa declara-
m%mt$g$
Ííi¿
tiea ir4 * by tha
/tha
Sesret&ry
of tha Troaaury ln hla dlscretlon, be forfaited te
mA
U
i
S tates. Notas of Sariae B tendered for purchaaa raat basa coi«»®
datad Auguet 1 , 1941, ettaehed, and yaynent r i l l ba aada at yar and aaeraad
intaraat te JU y 21, 1941. The principal proseada of tha Sariae B neta* «ill
ba «rrl l *^ 1» pdjaiTit of the Saltea 0 ñatea, and aaeraad Intaraat íw a IbbraSi
-i: .-Í~V ,
>.
2
2»
The note« «ill he issued tinder Authority of the act approved March 8,
1952 (52 St&t, 107), aa amended«
The income derived fron the notes «hall he
subject te all foderai taxes, non or hereafter imposed«
The notes shall he mb*
jest to surtaxe«, estate, Inheritance, «1 ft or ether exelse tax»«, whether
Federal er diate, hat «hall he exempt fren all taxation nee or hereafter I*,
poeed en the principal er interest thereof by any State, municipality, er local
taxing authority*
These notee «hall he lawful inweetnente and nay he accepted
as seearity fer all fiduciary, trust, and publie funds ths investment or deposit
ef which shall he under the authority or eentrol of the Baited States er any
officer er effleere thereof*
5»
Ths authorising act provides that in the event the Gennedtty Credit
Corporation shall he unable to pay upon denand, when due, the principal of, or
interest en, notes issued by it, the Secretary of the Treasury shall psy to tin
holder ths aasufxt thereof which is authorised to ho appropriated, out of any
money in the Treasury net otherwise appropriated, and thereupon to ths extent
ef the amount ee paid the Seeratary ef the Treasury shall succeed to all ths
rights ef the holders ef suoli notes«
4*
Bearer notes with interest coupons attached will he issued is denoaina*
tiens of «1,000, $5,000, «10,000 and «100,000«
The notes will not he issued is
registered ferm«
221«
1*
SUBSCRIPTION AND ALLOTMENT
Subscriptions edil be resolved st ths Federal Reserve Banks and Branchs
and at the Treasury Department, Washington«
Subscribers ansi agree net tc §sU
or otherwise dispose ef their subscriptions, or the eeeuritlee which «ay be
allotted thereon, prior to the dosing of the eubeeription bocks«
Banking in
stitutions generally M y submit subscriptions fer seoeuat ef euetesers, but
only the Federal Beeerve Banks and the Treasury Department axe authorised to
COMHODITT CKEDIT COKPOHATI0H
1-1/« PSaCBHT BOTES OF S1BS Q, B0E FE8HUAHT 15, 1945
Bated «ad bearing interest from July 21, 1941
* » UWCQWDITIOHAILT G0AEA8TE&P BOTH AS TO XJfTIHEST AHI)>HIHCIFAL BT THE
UHITED STATES, WHICH GUABAHTX IS MXPmsSBD W THE FACE OF EACH HOTS
19 a
nmmm nmmm,
Department Circular Hb. 665
Office of the Secretary,
Washington, July 10, I941,
fiscal Service
Bureau of tho Public Debt
X.
1,
OFFEdim OF HOTSS ABO IHTITATICH FOE T E W m S
The Secretary of the Treasury, on behalf of the Conaodity Credit Corpo-
zmtion, invites subscription«, at par and accrued interest, fro® the people of
the United States for notes of the Coaaodity Credit Corporation, designated
1-1/8 peroent notes of Series O*
The amount of the offering is $400,000,000,
OF thereabouts*
2*
The Secretary ef the Treasury, on behalf of the CoHsodlty Credit Corpo*
ration, offers to purchase on « M y 21, 1941, at par and accrued interest, the edi
standing notes of the Corporation designated Series D, Maturing August 1, 1941, ^
to the extent to which the holders thereof subscribe to tho Issue of Series 0
notes hereunder• Tenders of Series 0 notes for that purpose are invited*
The notes will be dated July a , 1 9 a , and «dll bear interest fro® that
date at the rate of 1- 1/8 percent per amuse, payable on a semiannual basis on
February 15 and August 15 in each year until the principal m o u n t beocnes paya
ble, the first coupon being dated February 15, 1942*
They will nature February
15# 1945, and will not be subject to M i l for redemption prior to naturlty*
*
- 2Subacriptions «111 be recelTed ai thè Federai Eeeerre Banks and Branche##
«nd ai tha Treasury Bepartiasnt, Washington; they will net be recalirad at thè
Coauaodity Gradii Corporation*
Banking Institution» generally aay aubadi subscrlp-
tiona for aeoount of euatonara» bui only tha Foderai Reserve Banka «od ih» tmauiy
Department ara authoriaed io act aa officiai agendo»*
Othor» tha» Banking insti.
tutlona «111 not ba pensltted io ostar subacriptions ©xcept for their orni account,
y
Subscriptione f r a holdor» of Seria» D noto» tandarod for puntina» should ba *».
coapanied by auch nota» to a par amount equal io tha par aaount of note» of Striti
0 aubacrlbad for»
Other subacriptions fron banks and trust Companies far their
own aeoount «111 ba raoal«ad without deposit bui «111 ba restrictad in each cast
to an anount not exeoeding one-half of thè costoined capitai and surplus of thè
aubaerlblng bank ar trust eoapany*
Other subacriptions fron all others ausi be
aoaonpanlad by pajraent of 10 pereant of tho anount of noto# applied for»
Tha righi la r s s e m d to oloaa tho books aa to any or all subacriptions
at aay tla* without notioa.
Subject to tho rostratiano sai forth In tha affisiti
circular» aubaariptlona f r a holdere of Borio# D notes «ho tender tha» far pur»
Chase under thls off©ring «ili be allsttsd In full»
Paynent fsr any notes allotta
m s t ba inda ar ccwplatad cn ar bafara July 21» 1941» ar on later allotnent* Seri«
B notea ara outetandlxig In tha snoust of |BD2»$53»00G»
? The taxi of thè officiai circuì»r follo«» i
treasury
f
w PAm w m
f
}Washington
FOR RELEASE, MORNING HEWSPAPERS#
Press Service
Thurafay. Ju ly 10. 1 9 U .__________
" Jv
^-3^
7/9/41
The Secretary of the Treasury, on behalf of the Commodity Credit Corpo
ration,
today announced the plan for refinancing the outstanding notes of Series
D of the Corporation maturing August 1, 1941# and raising additional funds for
the Corporation, through offering for subscription, at par and accrued interest
tfi
'
■
.¿8*?
through the Federal Reserve Banks, notes of the Corporation, designated 1-1/8 percent notes of Series 0, in the amount p i 1400,000,OCX), or thereabouts, and at the
same time offering to purchase on July 21,, 1941# at par and accrued interest, the
outstanding notes of Series D to the extent the holders of such maturing notes
subscribe for the new notes.
The notes o f Series G now o ffered w ill be dated Ju ly 21, 1941, and « ill
bear In te re st from that date a t the rate o f 1—1/8 percent per annum payable on
a semiannual b asis on February 15 and August 15 in each year, the fir s t coupon
being payable on February 15, 1942.
They w ill mature on February 15, 1945, and
w ill not be subject to c a ll fo r redemption p rio r to m tu r lty .
They w ill be
issued only in bearer form with coupons attach ed , in denominations of $1,000,
$5,000, $10,000 and $100,000.
The notes will be fully and unconditionally guaranteed both as to interest
and principal by the United States.
Pursuant to the provisions of the Public
Debt Act of 1941# interest upon the notes now offered shall not have any exemp
tion, as such, under Federal Tax Acts now or hereafter enacted.
Otherwise the
notes will be accorded the same exemptions from taxation as are accorded other
issues of Commodity Credit Corporation notes now outstanding.
These provisions
are specifically set forth in the official circular released today#
TREASURY DEPARTAIENT
Washington'
tony
V f
FOR RELEASE, MORNING- XiEWSPAPERS,
Thursday, July 10, 1941.
1/ßi
Press Service
No. 26-38
% Credit^
%M«(|
ÜUosâl
The Secretary of the Treasury, on behalf of the Commodity
Creo.it Corporation, today announced the plan for refinancing the
d accrued lr^
outstanding notes of Series D of. the Corporation maturing: August 1
design^!!
1S41, and raising additional funds for the Corporation, through
mb*U,di
offering for subscription, at par and accrued interest, through
KWÎ lstM
the Federal Reserve Banks, notes of the Cornoration, designated
ihatailii|rt
1-1/8 percent notes of Series G, in the amount of $400,000,000, or
thereabouts, snd at the same time offering to purchase on July 21,
t/M
âwpajil
thefirsts
1941, at par and accrued interest, the outstanding notes of Series D
to the extent the holders of such maturing notes subscribe for the
new notes.
11715)#(
The notes of Series G now offered will be dated. July 21, 1941,
j flll of
and will bear interest from that date at the rate of 1 - 1/8 nercent
per annum nayable on a semiannual basis on February 15 and August 15
bethn^l
in each year, the first counon being payable on February 15, 1942»
1 of tin
They will mature on February 15, 1945, and will net be subject to
I#***
call for redemption prior to maturity.
t otln^
in bearer form with coupons attached, in denominations of $1 ,000,
oW*
$5,000, $10,000 and $100,000.
They will be issued only
- g The notes will be fully and unconditionally guaranteed both
as to interest and principal by the United States.
Pursuant to
the provisions of the Public Debt Act of 1941, interest upon the
notes now offered shall not have any exemption, as such, under
Federal Tax Acts now or hereafter enacted.
Otherwise the notes
will be accorded the same exemptions from taxation as are accorded
other issues of Commodity Credit Corporation notes now outstand
ing.
These provisions are specifically set forth in the official
circular released today.
Subscriptions will be received at the Federal Reserve Banks
and Branches, and at the Treasury Department, Washington: they
will not be received at the Commodity Credit Corporation.
Banking
institutions generally may submit subscriptions for account of
customers, but onry the Federa,! Reserve Banks and the Treasurvo
Department are authorized to act as official a.gencies.
Others
than banking institutions will not be permitted to enter subscrip
tions excent for their own account.
Subscriptions from holders of
Series D notèsstpiîdefed for purchase should be accompanied by such
notes to a par amount equal to the par amount of notes of Series G
subscribed for..
Other subscriptions from banks and trust companies
for their own account will be received without deposit but will be
- 3 restricted in each case to an amount not exceeding one-half of the
combined capital and surplus of the subscribing bank or trust com
pany.
Other subscriptions from all others must be accompanied
by payment of 10 percent of the amount of notes applied for.
The right is reserved to close the books as to any or all
subscriptions at any time without notice.
Subject to the reser
vations set forth in the official circular, subscriptions from,
holders of Series D notes who tender them for purchase under this
offering will be allotted in full.
Payment for any notes allotted
must be made or completed on or before July 21, 1941, or on later
allotment.
Series D notes are outstanding in the amount of
$202,553,000.
The text of the official circular follows:
- 4 COMMODITY CREDIT CORPORATION
1-1/8 PERCENT NOTES OF SERIES G, DUE FEBRUARY 15, 1945
Dated and bearing interest from July 21, 1941
FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND
PRINCIPAL BY THE UNITED STATES, M I C H GUARANTY IS EXPRESSED
ON THE FACE OF EACH NOTE
1941
Department Circular No. 665
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, July 10, 1941.
Fiscal Service
Bureau of the Public Debt
1.
1.
OFFERING 0:1 NOTES AND INVITATION FOR TENDERS
The Secretary of the Treasury, on behalf of the Commodity
Credit Corporation, invites subscriptions, at par and accrued
interes t, from the people of the United States for notes of the
Commodi ty Credit Corporation, designated 1-1/8 percent notes of
Series
The amount of the offering is $400,000,000, or there-
abouts.
2.
The Secretary of the Treasury, on behalf of the Commodity
Credit Corporation, offers to purchase on July 21, 1941, at par
and accrued interest, the outstanding notes of the Corporation
designated Series D, maturing August 1, 1941, to the extent to
which the holders thereof subscribe to the issue of Series G
notes hereunder.
invited.
Tenders of Series D notes for that purpose are
II.
1.
DESCRIPTION OF NOTES *'T'* '
The notes will be dated July 21, 1941, and mull bear
interest from that date at the rate of 1 - 1/8 percent per annum,
payable on a semiannual basis on February 15 and August 15 in each
year until the principal amount becomes payable, the first coupon
being dated February 15, 1942.
They will mature February 15* 1945,
and will not be subject to call for redemption prior to maturity.
2.
The notes will be issued under authority of the act
approved March 8 , 1938 (52 Stat. 107), as amended.
The income
derived from the notes shall be subject to all Federal taxes,
now or hereafter imposed.
The notes shall be subject to surtaxes,
estate, inheritance, gift or other excise taxes, whether Federal
or State, but shall be exempt from all taxation now or hereafter
imposed on the principal or interest thereof by any State, muni
cipality, or local taxing authority.
These notes shall be lawful
investments and may be accepted as security for all fiduciary,
trust, and public funds the investment or deposit of which shall
be under the authority or control of the United States or any
officer or officers thereof.
3.
The authorizing act provides that in the event the Com
modity Credit Corporation shall be unable to pay upon demand, when
due, the principal of, or interest on, notes issued by it, the
- 6 Secretary of the Treasury shall pay to the holder the amount
thereof which is authorized to be appropriated, out of any money
in the Treasury not otherwise appropriated, and thereupon to the
extent of the amount so paid the Secretary of the Treasury shall
succeed to all the rights of the holders of such notes.
4.
Bearer notes with interest coupons attached Will be
issued in denominations of $1 ,000, $5 ,000, $ 10,000 and $100,000.
The notes will not be issued in registered form.
III.
1.
SUBSCRIPTION kWD ALLOTMENT
Subscriptions will be received at the Federal Reserve
Banks and Branches and at the Treasury Department, Washington.
Subscribers must agree not to sell or otherwise disease of their
subscriptions, or the securities which may be allotted thereon,
prior to the closing of the subscription books.
Banking insti
tutions generally may submit subscriptions for account of customers,
but only the Federal Reserve Banks and the Treasury Department
are authorized to act as official agencies.
Others than banking
institutions will not be permitted to enter subscriptions except
for their own account.
Subscriptions from holders of Series D
notes tendered for purchase should be accompanied by such notes
to a par amount equal to the par amount of notes of Series G
subscribed for.
Other subscriptions from banks and trust companies
7
for their own account frill be received without deposit hut will
be restricted in each case to an amount not exceeding one-half
of the combined capital
s. urplus of the subscribingo b ank or
L and
i
trust company.
Other subscriptions from all others must be
accompanied by payment of 10 percent of the amount of notes
applied for.
2.
The Secretary of the Treasury reserves the right to
reject any subscription, in whole or in part, to allot less than
the amount of notes anplied for* and to close the books as to any
or all subscriptions at any time without notice; and any action
he may take in these respects shall be final.
Subject to these
reservations, subscriptions from holders of Series D notes who
tender them for purchase hereunder will be allotted in full.
Allotment notices will be sent out promptly upon allotment, and
the basis of the allotment will be publicly announced.
IV.
1.
PAYMENT
Payment at par and accrued interest, if any, for notes
allotted hereunder must be made or completed on or before July 21,
194±, or on later allotment.
In every case where payment is not
so completed, the payment with application up to 10 percent of
the amount of notes anplied for shall, upon declaration made by
the Secretary of the Treasury in his discretion, be forfeited to
the United States.
Notes of Series D tendered for p u rch ase must
have coupons dated August 1, 1941, attached, and payment will be
made at par and accrued interest to July 21, 1941.
The principa.
proceeds of the Series D notes will be applied in payment of the
Series G notes, and accrued interest from February 1, 1941 to
July 21, 1941 on Series D notes ($2.93508 per $1,000) will be pa
following acceptance of the notes.
V . GENERAL PROVISIONS
1.
As fiscal agents of the United States, Federal Reserve
Banks are authorized and requested to receive subscriptions, to
make allotments on the basis and up to the amounts indicated by
the Secretary of the Treasury to the Federal Reserve Banks of
the respective districts, to issue allotment notices, to receive
payment for notes allotted, to make delivery of notes on fullpaid subscriptions allotted, and they may issue interim receipts
pending delivery of the definitive notes.
2.
The Secretary of the Treasury may at any time, or from
time to time, prescribe supplemental or amendatory rules and
regulations governing the offering, which will be communicated
promptly to the Federal Reserve Banks.
HENRY MORGENTHAU, JR.,.
Secretary of the Treasury.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
1
Press Service
:^
v
.'
;
1
\
Uncle Sam has inducted a new army of 32,000 men who will take part in
the Defense Program by selling Defense Savings Stamps, it was announced today
by the Treasury Department,
This new super-sales force consists of America*s 32,000 rural mail
carriers,
They will sell the Stamps to patrons on their routes, thus providing a simple
and convenient way for millions of families in rural communities to participate
in the Savings Program which is a vital part of national defense preparations.
T» Purdumy Oooond
Pootmastirr General ¿-has authorised pw U
v,maSi
ters ,.to ali-owTui'dl Cax-i-lei-s d,'credit uf $3 worth of-Stamps-each day, os*
j
^
■moro if they are imetted".
tO
On the purchase of a
Stamp, the carrier will give to the purchaser
a card on which 25 of these Stamps may be mounted and then exchanged for $2.50
worth of the larger sizes.
With the purchase of a 25$ Stamp, a handsome album is provided on which
75 Stamps may be mounted.
When filled the album can be exchanged for an $18«75 I
Defense Savings Bond, which will increase in value in ten years to $25.
The 50$ Stamp album, on which 75 Stamps may be mounted, may be exchanged
when filled for a $37*50 Bond.
This Bond will appreciate in 10 years to $50»
On the purchase of a $1 Stamp, an album having room for 75 such Stamps is
provided with a total value of $75* the purchase price of a Savings Bond that
will be worth $100 in ten years.
During 1917-1918 rural mail carriers made a fin« record selling Liberty
Bonds and go-gfeal Savings Stamps, it is pointed out by Post Office Department
officials.
oOo
>
Date
Submitted July 8,
19hi
PRESS SECTION
DEFENSE Sa VING-S STa FF
NEWSPAPER RELEASE
Mr. Schwarz:
|AN
Attached Release - Rural mail carriers
to sell Defense Savings Stamps.
For Release Immediate___________
^W-
¥
for
mmiLwr release,
1941.
if
safe® ^9».
c
Thirty-two thousand rural mail carriers are now acting as
^
agents in the sale of Defense Savings Stamps, y g r # ~“----..ll W!*»*»
jl'!^a<5is4»4i'i>J^fs8
Demand for whe stamps »in sparsely settled
districts caused the Post Office Department to authorize the carrierSfS^ salesmen.
The stamps range in value from ten cents to five dollars.
Purchasers are given albums in which they can be mounted,
^hen
filled, the albums may be exchanged foj? Defense Savings Bonds.
Post Office officials recalled that rural mail carriers
acted in similar capacities in 1917 and 1918 selling War Savings
Stamps •
JO -
JBS
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS
Thursday, July 10, 1941.
7/9/41
------ ----------------------------------
Press Service
No. 26-39
Thirty-two thousand rural mail carriers are now acting
as agents in the sale of Defense Savings Stamps, postal
officials informed the Treasury today.
Demand for the
stamps in sparsely settled districts caused the Post Office
Department to authorize the carriers to act as salesmen.
The stamps range in value from ten cents to five
dollars.
Purchasers are given albums in which they can be
mounted.
When filled, the albums may be exchanged for
Defense Savings Bonds.
Post Office officials recalled that rural mail carriers
acted in similar capacities in 1917 and 1918 selling War
Savings Stamps.
TREASURY DEPARTMENT
Washington
For I M M E D I A T E E E L E A S B p s ; ?
Thursday. J u l y 10, 1941,
Press Se r v i c e
No, 2 6 - 4 0
The Bureau of Customs announced today preliminary figures for imports
of coffee subject to quota limitations under the Presidents proclamation
of the Inter—American Coffee Agreement on April 15, 1941*
The following tabulation lists the coffee quotas which have been filled,
and shows import figure^ for the quotas now under telegraphic control as of
July 5, 1941.
Total imports under the other coffee quotas are shown as of
June 28, 1941*
Quota Period
i Revised 1/
Country of Production: Quota (lbs.)
:
Entered for Consumption
:
Pounds
: As of (Date)
Quota Period - 12 months
from October 1, 1940:
Cuba
El Salvador
Honduras
Nicaragua
Ecuador
Haiti
Peru
Brazil
Mexico
Non-signatory countries:
All types of coffee .
(import
it
it
tt
it
16,138,333
71,950,208
56,484,233
423,632,012
26,897,267
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
-
10,758,933
80,691,799
2,689,700
26,224,775
June 28, 1941
tt
H
it
20,173,016
36,983,708
3,362,191
1,250,722,887
63,880,975
July 5, 1941
it
tt
it
it
47,742,641
July 5# 1941
quota filled)
n
ti
tt
it
«
it
it
n
5,888,482
62,887,387
1,643,265
17,649,792
18,999,227
36,634,611
3,036,582
1,203,803,572
59,654,850
46,113,117 7J
Quota Period - April 22 to
August 31# 1941# incl:
Non-signatory countries:
1,015,996 ÿ
July 5, 1941
Mocha coffee
2,645#520
1/ Quotas increased by Inter-American Coffee Board, as of June 1, 1941*
2/ Under the terms of an Executive order, effective June 14# 1941# the
increased import quota for non-signâtory countries is subject to the
allocation of a maximum of 20,000 bags for coffee of the Mocha type^ _
which may be entered for consumption from April 21 to August 31# 1941#
inclusive,
•
fi
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, July 10, 1941.
Press Service
No. 26-40
The Bureau of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the President’s
proclamation of the Inter-American Coffee Agreement on April 15, 1941.
Tike following tabulation lists the coffee quotas which have been
filled, and shows import figures for the quotas now under telegraphic
control as of July 5, 1941.
Total imports under the other coffee
quotas are shown as of June 28, 1941.
Quota Period
î Revised 1/
Country of Production : Quota (lbs.)
:
Entered for Consumption
: As of (Date)
:
Pounds
Quota Period — 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
Cuba
El Salvador
Honduras
Nicaragua
Ecuador
Haiti
Peru
Brazil
Mexico
(Import quota filled)
16,138,333
71,950,208
56,484,233
423,632,012
26,897,267
10,753,933
80,691,799
2,689,700
26,224,775
June 28, 1941
it
it
a
it
tt
tt
it
it
tt
h
tt
it
it
it
it
5,888,482
62,887,387
1,643,265
17,649,792
20,173,016
36,983,708
3,362,191
1,250,722,887
63,880,975
July 5, 1941
h
47,742,641
July 5, 1941
46,113,117 2/
2,645,520
July 5, 1941
1,015,996 2/
Non-signatory countries;
All types of coffee
Quota Period - Aoril 22 to
August 31, 1941, incl:
Non-signatory countries:
Mocha coffee
it
it
it
18,999,227
36,634,611
3,036,582
1,203,803,572
59,654,850
1/ Snot .s increased by Inter-American Coffee Board, as of June 1,1941.
V Under the terms o: an Executive order, effective Jun e 14, 1941, the
increased import quota for non-signatory countries i s subject to
the allocation of a maximum of 20,000 bags for coffe e of the Mocha
type which may be entered for consumption from April 21 to
August 31, 1941, inclusive.
**O0O*r
INSOLVfiNT NATIONAL BANKS LIQUIDATED AND FINALLY CLC6 ED
______ ______________ D U R I N G T H E M O N TH O F J U N E .
Name and Location of Bank
Lee County National Bank
Marianna, Arkansas
Aurora National Bank
Aurora, Illinois
First National Bank in
Aurora, Illinois
Caribou National Bank
Caribou, Maine
First National Bank
Portland, Maine
First Nat'l.Bk & Tr.Co at
Flint, Michigan
Citizens Nat*l*Bk & Tr. Co
Hornell, New York
Peoples National Bank
Latrobe, Pennsylvania
Moshannon National Bank
Fhilipsburg, Pennsylvania
First National Bank
Portage, Pennsylvania
Second National Bank
Morgantown, West Virginia
Bate of
Failure
jfi-•.
5-1-34
Total
Disburs ernenb s
Including
Offsets Allowed
Per Cent
Dividends
JDeclared
to all
Claimants
Capital
Stock at
,Date of
Fai lure
Cash, A ss e ts,
Uncollected Stock
Assessments, etc*,
Returned to Shareholders __________
698,629
79.25*
♦ 80,000
- 0-
2,816,264
96.92*
300,000
- 0-
7-6-32
2,566,779
83.63*
200,000
* 0-
1-15-34 •
1,198,292
24.38*
100,000
- 0*
11-6-33 •
6,684,944
99.8*
600,000
- 0-
6-18-34 .
$
l ^ A .1 _________________
2-27-34 .
7,402,092
95.59*
400,000
- 0-
5-10-32
2,185,974
69.00$
125,000
- 0-
8-24-31 •
2,314,770
83*85$
200,000
- 0-
10-12-31 •
1,338,192
91.27$
150,000
-
364,330
37.47*
60,000
2,344,203
94.97*
100,000
3-25-31 ■
11-11-31
0
-
- 0-
TREASURY DEPARTMENT
Comptroller of the Currency
Washington
FOR RELEASE, MORNING NEWSPAPERS
(^
Press Service
cL(»~ *~(!
During the month of June, 1941, the liquidation of
eleven Insolvent National Banks was completed and the affairs
of such receiverships finally closed.
Total disbursements, including offsets allowed, to
depositors and other creditors of these eleven receiverships,
amounted to $29,914,469, while dividends paid to unsecured
creditors amounted to an average of 87*65 per cent of their
claims.
Total costs of liquidation of these receiverships
averaged 6*68 per cent of total collections from all sources
including offsets allowed.
Dividend distributions to all creditors of all active
receiverships during the month of June, 1941, amounted to
$1,272,304.
Data as to results of liquidation of the receiver
ships finally closed during the month a r e a s follows:
Comptroller of the Currency
Washington
FOR RELEASE, MORNING NEWSPAPERS
Friday, July 11, 1941,
Press Service
No, 26 - 41
During the month of June, 1941, the liquida
tion of eleven Insolvent National Banks was completed
and the affairs of such receiverships finally closed.
Total disbursements, including offsets allowed
to depositors and other creditors of these eleven
receiverships, amounted to $29,914,469, while dividends
paid to unsecured creditors amounted to an average of
87,65 per cent of their claims.
Total costs of liqui
dation of these receiverships averaged 6,68 per cent
of total collections from all sources including offsets
allowed.
Dividend distributions to all creditors of all
active receiverships during the month of June-, 1941,
amounted to $1,272,304.
Data as to results of liqui
dation of the receiverships finally closed during the
month are as follows:
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
_________ DURING THE MONTH OF JUNE, 194l___________
Lee County National Bank
Marianna* Arkansas
5-1-3“+
$
Aurora National Bank
Aurora* Illinois
dame 8,n& liocauiuu ux
Capital
Stock at
Date of
Failure
Cash, Assets,
Uncollected Stock
Assessments, etc*,
Returned to Share
holders
79 .25 #
$ 80,000
- 0 -
2,816,264
96 .92#
300,000
- 0 -
6-18-34
First National Bank in
Aurora» Illinois
7 -6 -32
2 ,566 ,779.
S3 .63 #
200,000
- 0 -
Caribou National Bank
Caribou, Maine
1-15-34
1,19S,292
24* 38 $
100,000
- 0 -
First National Bank
Portland, Maine
1 1 - 6 -33
6,684,944
99 .8#
600,000
- 0 -
First Nat’l.Bk & Tr* Co at
Flint* Michigan
7,402,092
95 .59#
400,000
- 0 -
2-27-3“+
Citizens Nat’l.Bk* & Tr* Co
Hornell, New York
5 - 10 -3 2
2,185,974
69 .00$
125,0 0 0
- 0 -
Peoples National Bank
Latrobe, Pennsylvania
2 ,3 16 ,7 7 0
83 .85$
200,000
- 0 -
8-24-31
1 ,3 3 8 ,19 2
9 1 .27 #
150,000
- 0 -
10-12-31
3-25-31
366,330
2 ,344,203
37 .67 #
96.97#
60,000
First National Bank
Portage, Pennsylvania
H-ll-3 1
Second Nation Bank
Mo r:gan%bwja>
Vita?gin ia-
100,000
I
Moshannon National Bank
Philipsburg, Pennsylvania
'
1 1
0 0
1 1
698,629
I
Date of
Failure
Total
Disbursements
Including
Offsets Allowed
Per Cent
Dividends
Declared
to all
Claimants
MxB&éc
-
2
-
Reserve Banks and Branches, following which public announcement will "be made by
the Secretary of the Treasury of the amount and price range of accepted "bids.
Those submitting tenders will he advised of the acceptance or rejection thereof.
The Secretary of the Treasury expressly reserves the right to accept or reject
any or all tenders, in whole or in pa,rt, and his action in any such respect
shall he final.
Payment of accepted tenders at the prices offered must he made
or completed at the Federal Reserve Bank in cash or other immediately available
funds on _
July l6, 19^1_______ .
The income derived from Treasury hills, whether interest or gain from
the sale or other disposition of the hills, shall not have any exemption, as
such, and loss from the sale or other disposition of Treasury hills shall not
have any special treatment, as such, under Federal tax Acts now or hereafter
enacted.
The hills shall he subject to estate, inheritance, gift, or other
excise taxes, whether Federal or state, hut shall he exempt from all taxation
now or hereafter imposed on the principal or interest thereof by any State, or
any of the possessions of the United States, or by any local taxing authority.
For purposes of taxation the amount of discount at which Treasury hills are
originally sold by the United States shall he considered to he interest.
Treasury Department Circular No. 418, as amended, and this notice,
scribe the terms of the Treasury hills and govern the conditions of their issue.,
Copies of the circular may he. obtained from any Federal Reserve Bank or Branch. ■
M
TREASURY DEPARTMENT
Washington
ECQ RELEASE, MORNING NEWSPAPERS,
Friday. July 11f lQUl
The Secretary of the treasury, hy this public notice, invites tenders
for $ 100,Q00»000
. or thereabouts, of
3L -day Treasury "bills, to "be issued
Gö&
X3^)
on a discount "basis under competitive "bidding.
and will mature
The "bills of this series will
October lg, I9 U 1
feXbc
Xaisk
when the face amount will "be payable without interest.
They will be issued in
bearer form only, and in denominations of $ 1,0 0 0
anu.
yi
w v
\mauuriuy v 9,iu8 / i
Tenders will be received at Federal Re
ie;
m
closing hour, two o lclock p. m., Eastern Standar
feSdt
Tenders will not be received at the Treasury Department, Washington.
Each tender
must be for an even multiple of $1 ,000 , and the price offered must be expressed
on the basis of 100, vrith not more than three decimals, e. g., 99.925.
may not be used.
Fractions
It is urged that tenders be made on the pointed forms and for
warded in the special envelopes which will be supplied by Federal Reserve Banks
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and
trust companies and from responsible and recognized dealers in investment securi
ties.
Tenders from others must be accompanied by payment of 10 percent of the
face amount of Treasury bills applied for, unless the tenders are accompanied by
an express guaranty of payment by an incorporated bank or trust company.
Immediately after the closing hour, tenders will be opened at the Eeder^
TREASURY DEPARTMENT
FOR RELEASE, M O R N I N G NEWSPAPEBf
Friday, J u l y 11, 1941«
TREASURY DEPARTMENT
The Secretary of the treasury, hy this public notice, invites tenders
for $ 100,000,000
« or thereabouts, of
91 -day Treasury hills, to he issued
on a discount basis under competitive bidding.
be dated
July
16 .
iqUi
and. will mature
The bills of this series will
Qet.oher lg, lQUl
when the face amount will be payable without interest.
They will be issued in
bearer form only, and in denominations of $1,000, $5,000, $10,000, $100,OQP,
$500,000, and $1,000,000 (maturity value).
*#>*■'amm
t
Tenders will be received at Federal Reserv^?l
??nks and Branches up to the
closing hour, two o fclock p. m., Eastern Standards time,
Monday. July lUf lQhl
Tenders will not be received at the Treasury Department, Washington.
Fach tender
must be for an even multiple of $1,000, and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
Fractions
It is urged that tenders be made on the pointed forms and for
warded in the special envelopes which will be supplied by Federal Reserve Banks
or Branches on application therefor.
Tenders w ill be received without deposit from incorporated banks and
tr u s t companies and from resp o n sib le and recognized d ealers in investment securi
tie s ,
Tenders from others must be accompanied by payment o f 10 percent of the
fa ce amount o f Treasury b i l l s ap p lied f o r , u n less the tenders are accompanied by
an express guaranty o f payment by an incorporated bank or tr u s t company.
Immediately after the closing hour, tenders will be opened at the Federal
i/!
%i
FOR RELEASE, MORNING NEWSPAPERS,
Fr iday, July 11, 1941.
TREASURY DEPARTMENT
The Secretary of the Treasury, by this public notice, invites
tenders for $100,000,000, or thereabouts, of 91-day Treasury
bills, to be issued on a discount basis under competitive bidding.
The bills of this series vail be dated July 16, 1941, and-will
mature October 15, 1941, when the face amount will be payable
without interest.
They will be issued in bearer form only, and
in denominations of $1,000, $5,000, $10,000, $100,000, $500,000,
and $ 1 ,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and
Branches up to the closing hour, two o ’clock p. m . , Eastern
Standard time, Monday, July 14, 1941.
Tenders will not be re
ceived at the Treasury Department, Washington.
Each tender
must be for an even multiple of $ 1 ,000, and the price offered
must be expressed, on the basis of 100, with not more than three
decimals, e. g . , 99.925.
Fractions may not be used.
It is urged
that tenders be made on the printea forms and forwarded ±ti the
special envelopes Which will be suppueci by .federal Reserve Banks
or Branches on application therefor.
Tenders will be received without deposit from incorporated
banks and trust companies and from responsible and recognized
dealers in investment securities.
Tenders from others must be
accompanied by payment of 10 percent of the face amount of
Treasury bills applied for, unless tiio tenders are accompanied by
an express guaranty of payment by an incorporated bank or trust
company
26-42
Immediately after the closing hour, tenders will be opened
at the Federal Reserve Banks and Branches, following which public
announcement will be made by the Secretary of the Treasury of the
amount and price range of accepted bids.
Those submitting tenders
will be advised of the acceptance or rejection thereof.
The
Secretary of the Treasury expressly reserves the right to accept
or reject any or all tenders, in whole or in part, and his action
in any such respect shall be final.
Payment of accepted tenders
at the prices offered must be made or completed at the Federal
Reserve Bank in cash or other immediately available funds on
July 16, 1941.
The income derived from Treasury bills, whether interest or
gain from the sale or other disposition of the bills, shall not
have any exemption, as such, and loss from the sale or other dis
position of Treasury bills shall not have any special treatment,
as such, under Federal tax Acts now or hereafter enacted.
The
bills shall be subject to estate, inheritance, gift, or other
excise taxes, whether Federal or State, but shall be exempt from
all taxation now or hereafter imposed on the principal or interest
thereof by any State, or any of the possessions of the United
States, or by any local taxing authority.
For purposes of taxa
tion the amount of discount at which Treasury bills are originally
sold by the United States shall be considered to be interest.
oo
Treasury Department Ci rcular 3To . 418, as amenb e d , and
notice, prescribe the terms of the Trc)asury bills and gove
conditions'of their issue.
Copies of the circular nav be
tained from any Federal Reserve Bank or Branch.
V
SALES OP UNITED STATES SAVINGS BONDS
(In t h o u s a n d s )
May 1940
Denom
ination
(Series D —
Units
Issue p r i c e )
Percent
of
Amount
total
(Series E —
Issue p r i c e )
Percent
Amount
of
total 1
Units
1 8 2.0
6,826
5.9
13.6
29 4.6
22,096
19.2
8,541
15.5
6 0 .3
22,615
19.7
46.6 ____ 5 4 , 9 2 7
63.2
75. 0
56,259
49.0
9 9 0 .6
#114,895
# 1,807
50
65.7
2,463
100
10 0 .1
7,505
500
22.8
$55,243
378.7
4.4
100.0$
$
1
I
0•
0
0
331.5
3 .3 $
1—1
Total
]
6 .2 $
96.4
1,000
M ay 1941
7,10 0
25
#
j
•J
June 1 940
Denom
ination
(Series D —
Units
#
June 1941
Issue price)
Percent
Amount
of
total
25
86.9
$ 1,629
50
60*4
100
(Series E -- Issue p r i c e )
Percent 1;
Units
Amount
of
Total
3 .4 $
4 17.6
# 7,830
2,266
4 .8
185.2
6,947
7.1
92. 1
6,904
14.5
285.9
21,446
21.7
500
20 .6
7,726
16.2
51.3
19,232
19.5
1 , 000
38.8
29,072
61.1
57.7
4 3 *270
43.8
Total
298.7
147,597
997.8
#9 8 , 7 2 5
100.0$
7 .9 $ 1
!
J
1
1 0 0 .0$
|
1
Note:
Figures hav e b e e n r o u n d e d a n d w i l l n o t n e c e s s a r i l y a dd to totals*
4
TREASURY DEPARTMENT
Washington
FOR RELEASE, M O R N I N G N EWSPAPERS,
Friday, J u l y 11, 1 9 4 1 .
Press S e r vice
No. 2 6 - 4 3
iday am *s
F i g u r e s c o m p a r i n g the sale b y denominations
of "Series E" D e f e n s e Savings
w i t h the sale of t h e old
Bonds d u r i n g M a y and
"Series D" S a v i n g s
June
Bond f o r
the same two m o n t h s last yea r w e r e m a d e public t o d a y by
the T r e a s u r y Department.
The tables s h o w a g r e a t e r p e r c e n t a g e of
s m a l l - d e n o m i n a t i o n bonds
also d i s c l o s e a h increase
bonds sold
sold this year.
in the p e r c e n t a g e
in June over the p e r c e n t a g e
The figures
of small
for M a y of this
year.
The t a b l e s for
are as follows:
t he r e s p e c t i v e m o n t h s
TP FA cjTTpy
i T)FPAPT
i .PETIT
Washington
t-x i
X 1 Ü JL«IJ & k J W i 1/
-1-S -*-J
Xi-
V i J.V*
1 • if«
OR RELEASE, MORNING NEWSPAPERS,
ridajr, July 11, 1941
Press Serv
No. 26-43
Figures comparing the sale by denominations
of ’’Series E ” Defense Savings Bonds during May and June
with the sale of the old "Series D" Savings Bond for
the same two months last year were made public today by
the Treasury Department.
The tables show a area„ter percentage of
small-deriomi:nation bonds sold this year.
Th e figures
also disclos e an increas e in the pe¡rcentage of small
bonds sold in June over the percentage for May of this
year.
The tables for the respective months
are as follows:
SALES OP UNITED STATES SAYINGS BONDS
(In thousands)
Denom
ination
Issue price)
Percent
of
Amount
total
(Series D —
Units
Units
182.0
6,826
5.9
1 3 .6
29 *+.6
22,096
19 .2
8,5^1
15-5
60.3
22,615
1 9 .7
Ub. 6
3*+,927
6 3.2
75.0
56,259
^9 .0
331-5
$55.2^3
990.6
$11^,895
$ 1,807
50
6 5.7
2 ,1+63
100
100.1
7,505
500
22.8
1,000
3 .3$
100.0$
378.7
1,6 2 9
Units
7 .95s
U.8
185.2
6,9>+7
7.1
6 ,90 ^
1^.5
285-9
2 1 ,^6
21.7
20.6
7,726
16 .2
51.3
19 ,2 3 2
19-5
38.8
29,072
6l.l
57.7
^3.2
29 S. 7
$>+7,597
100.0$
50
60 .^
2,266
100
9 2 .1
500
1,000
997-8
0'—
t
OJ
$ 7,230
86.9
Notei
Issue price)
Percent
of
Amount
total
(Series B —
^17.6
$
25
Total
100.0$
M
$
Issue price)
Percent
of
Amount
total
(Series D —
Units
$
June 19^1
June 19^+0
Denom
ination
Issue price)
Percent
Amount
of
total
6 .2 $
96.4
Total
(Series B —
7,100
25
$
19 %
May
May 19Uo
$98,725
100.0$
Figures have "been rounded and will not necessarily add to totals.
0O0 -
TREASURY DEPARTMENT
Wa«hington
FOR RELEASE, M O B H M O HEPS PAPERS,
M
t o - iftü ü r 11. IM
I.----------------
f » ' * Service
7w
» - ( , - *-í V
7/WU
t M N t a i r tf the t W M w q r Morgenthau announced last night that the tubacription book* for the eurrwnt offerta« of 1-1/8 pereent notos of Series 0
of the Coanodity Credit Corporation eloeed at the «dose of tasinsss Thuraday,
M y
ID, exeept for tbo.rooaipt of oabooripttoao fron holders of Series D
notes of the Corporation oho tender then for porche«« hr the Secretary in a
par «wont «rial to U m par aasest of netos of Sorts« 0 subscribed for.
The
subscription bosks o i U be olosed for the receipt of eubacriptiona of the
latter elaos at the d o e « of business Friday, July 11, at shloh tine the
offer to perohaee Serios 0 notos of the Corporation will torntaato.
Subscriptions of either «lass addressod to a Federal Reserve Bank or
Branch, or to the Troasary Popartnent, and plated in the sail before
12 e'eleek aidai«ht of tho respective closing days, will be considered as
baria« been entered before the sisee of the aabaerlption bodes.
Announeoaent of the aaonnt of sobeertptioa« and the baeie of allotment
will probably bo nado on Tuesday, July 19.
TREASURY DEPARTMENT
Washington
FOR RELEASE/ MORNING NEWSPAPERS,
Friday, July 11, 1941.
7/10/41
Press Service
KiM\n-> . C
P~j
ùir
Tr'-
Secretary of the Treasury Forgerthau announced last night
that the subscription books for the current offering of
1-1/8 percent notes of Series G of the Commodity Credit
p orporation closed at the close of business Thursd;
July 10, except for the receipt of subscriptions from holders
of Series D notes of the Corporation who tender them for
purchase by the Secretary in a par amount equal to the par
amount of notes of Series G subscribed for.
The subscription
books will be closed for the receipt of subscriptions of the
latter class at the close of business Fri dely> July 1 1 ; £t
which time the offer to purchase Series D notes of the Cor
poration will terminate.
Subscriptions of either class addressed to a Federal
Reserve Bank or Branch, or to the Treasury Department, and
placed in the mail before 12 o ’clock midnight of the respec
tive closing days, will be considered as having been entered
before the close of the subscription books.
Announcement of the amount of subscriptions and the
basis of allotment will probably be made on Tuesday, July 15.
-OoO-
TREASURY DEPARTMENT
W ash in g to n
FOR RELEASE, MORNING NEWSPAPERS,
S a tu r d a y , J u l y 1 2 , 1941.
W I T 7T 1
P ress S e r v ic e
N o . 26 -45
The Bureau of Customs announced today preliminary figures for imports of
commodities within quota limitations provided for under trade agreements, from
the beginning of the quota periods to June 28, 1941, inclusive, as follows:
s
Established Quota_______:Unit of :Imports as of
_____Commodity____________tPeriod & Country: Quantity {Quantity: June 28. 1941
Cattle less than 200
pounds each
f
Calendar year
Cattle, 700 pounds or
more each (other than
dairy cows)
Quarter year
from Apr. 1,
1941
Canada
Other countries
100,000
Head
51,720
8,280
Head
n
71,428
25,554
(Tariff rate
quota filled)
Whole milk, fresh or
sour
Calendar year
3,000,000
Gallon
2,941
Cream, fresh or sour
Calendar year
1,500,000
Gallon
514
Fish, fresh or frozen
filleted, etc., cod,
haddock, hake, pollock,
cusk and rosefish
Calendar year
15,000,000
Pound
3,644,110
90,000,000
Pound
42,995,331
60,000,000
Pound
13,656,526
White or Irish potatoes
Certified seed
Other
12 months
Sept. 15,
12 months
Sept. 15,
from
1940
from
1940
Cuban filler tobacco,
unstemmed or stemmed
(other than cigarette
leaf tobacco), and
scrap tobacco
Calendar year
Red cedar shingles
Calendar year
Pound
(Unstemmed
22,000,000 equivalent)
2,488,359
Square
9,550,955
1 ,6 9 0 ,554
TtREASURY DEPARTMENT
Washington
PRESS SERVICE
No. 26 - 45
FOR RELEASE, MORNINi NEWSPAPERS,
Saturday Jul: 12, 1941.
7/ri7£T
The Bureau of Customs announced today preliminary figures for
imports of commodities within quota limitations provided for under
trade agreements, from the beginning of the quota periods to June 28 t
1941, inclusive, as fo Hows:
Commodity
Cattle less than 200
pounds each
:
Established Quota
;Period & Country: Quantity
Calendar year
:Unit of Imports as of
:Quantity:June 28- 1941
100,000
Head
51,720
8,280
Head
n
71,428
Cattle, 700 pounds or
more each (other than
dairy cows)
Quarter year
from Apr. 1,1941
Canada
Other countries
Whole milk, fresh or sour
Calendar year
3,000,000
Gallon
2,941
Cream, fresh or sour
Calendar year
1,500,000
Gallon
514
Pish, fresh or frozen
filleted, etc., cod,
haddock, hake, pollock,
cusk and rosefish
Calendar year
15,000,000
Pound
3,644,110
90.000.
.Pound
000
42,995,331
60.000.
Pound
000
13,656,526
White or Irish potatoes
Certified seed
Other
12 months
Sept. 15,
12 months
Sept. 15,
from
1940
from
1940
Cuban filler tobacco,
unstemmed or stemmed
(other than cigarette
leaf tobacco), and
scrap tobacco
Calendar year
Red cedar shingles
Calendar year
25,554
(Tariff rate quota
filled)
Pound
(Unstemmed
22,000,000 equivalent)
2,488,359
Square
9,550,955
1,690,554
2
-
-
:Unit of :Imports 3/S of
:Quantity:June 28. 1941
Sstablished Quota
Quantity
^Period & Country
Silver or black foxes,
furs, and articles:
Poxes valued under
$250 ea. and whole
furs and skins
12 months from
December 1,1940
Canada
70,000 Humber
Other than Canada
Tails
Paws, heads, or other
separated parts
Piece plates
Articles, other than
piece plates
Crude petroleum, topped
crude petroleum, and
fuel oil
Molasses and sugar
sirups containing
soluble nonsugar
solids equal to
more than 6$ of
total soluble solids
12 months from
December 1,1940
30,000
if
5,000 Piece
(Import quota
filled)
(Import quote
filled)
( Inport quota
filled)
tr
500 Pounds
(Import quota
filled)
a
550 Pounds
364
H
500 Units
Calendar year
Venezuela
Hetherlands
Colombia
Other countries
Calendar year
ooOoo
35
1,913,049,600 Gallon
it
578,806,200
n
86,956,800
tt
138,587,400
970,324,727
340,137,457
13,315,494
(Tariff rate
Quota filled)
1,500,000 Gallon
(Tariff rate
quota filled)
TREASURY DEPARTMENT
W ashington/O
FOR R ELEA SE, MORNING NEWSPAPERS,
Saturday,
Press Service
Noi 2 6 - 4 t b
J u l y 12. 1941.
77ÎÎ741
--- ----
The Bureau of Customs announced today preliminary figures for imports of
commodities within the quota limitations provided for under the Philippine
Independence Act, as amended by the act of August 7, 1939, from the beginning of
the quota periods to June 28, 1941, inclusive, as follows:
Products of
Philippine Islands
:______Established Quota
: Period
:
Quantity
:Unit of :Imports as of
:Quantity: June 28. 1941
Coconut oil
Calendar year
425, 600,000
Pound
171,494,502
Refined sugars
Calendar year
1x2,000,000)
Pound
52,800,422
Pound
1,161,213,247
4,000,000
Pound
902,633
Gross
359,368
«/
Sugars other than refined
Calendar year
Cordage
Period - May 1
to Dec.31,1941
1,792,000,000)
Buttons of pearl or shell
Calendar year
807,500
Cigars
Calendar year
190, 000,000
Scrap tobacco and stemmed
and unstemmed filler
tobacco
Calendar year
4,275,000
Number
70,776,956
Pound
2,620,357
l/ The duty-free quota on Philippine sugars applies to 850,000 long tons, of which
not more than 50,000 long tons may be refined sugars.
0
^PPgpareAJaythe Bureau of Customs)
'TREASURY DEPa RTMEN mi
Washington
PRESS SERVICE
No. 26-46
I? A CT?
lUlliw/Jj
^ MORNINS NEWSPAPERS,
FOR
V^ s 1941
Saturday, Ju
vrmf—
The Bureau of Customs announced today preliminary figures for
imports of commodities within the quota limitations provided for
under the Philippine Independence Act, as amended by the Act of
August 7, 1939, from the beginning of the quota periods to June 28 )
1941, inclusive as follows:
Products of
PBilinnine Islands
:
Estabiished Quota
: Period
:
Quantity
Coconut oil
Calendar year
Refined sugars
Calendar year
Sugars other than refined
Calendar year
Cordage
Period - May 1
to Dec.31,1941
Pound
171,494,502
Pound
52,800,422
Pound
1,161,213,247
4,000,000
Pound
902,633
Cross
359,368
425,600,000
112,000,000)
)l/
1,792,000,000)
Buttons of pearl or shell
Calendar year
807,500
Cigars
Calendar year
190,000,000
Scrap tobacco and stemmed
and unstemmed filler
tobacco
Calendar year
4,275,000
1j
:Unit of : Imports as of
¡¡Quantity: June 28..1941
dumber
Pound
70,776,956
2,620,357
The duty-free quota on Philippine sugars applies to 850,000 long tons, of which
not more than 50,000 long tons may he refined sugars*
ooOoo
TREASURY DEPARTMENT
Office of the Secretary
July 11, 1941
GENERAL LICENSE NO. 52,
UNDER EXECUTIVE ORDER NO. 8389, APRIL
10, 1940, AS AMENDED, AND REGULATIONS
ISSUED PURSUANT THERETO, RELATING- TO
TRANSACTIONS IN FOREIG-N EXCHANGE, ETC. ,
(1)
A general license is hereby granted licensing any
transaction referred to in Section 1 of the Order,
if (i)
such transaction is by, or on behalf of, or pursuant to the
direction of Spain, or any national thereof, or (ii) such
transaction involves property in which Spain, or any national
thereof, has at any time on or since the effective date of
the Order had any interest, provided, that.
(a)
Such transaction is not by, or on behalf
cf, or pursuant to the direction of any
blocked country or any national thereof,
other than Spain or any national of Spain;
and
(b)
Such transaction does not involve property
in which any blocked country or any nation
al thereof, other than Spain or any nation
al of Spain, has at any time on or since
the effective date of the Order had any
interest; and
(c)
If such transaction is not by, or on behalf
of, or pursuant to the direction of the
Instituto Espanol de Moneda Extranjera, such
transaction shall not be effected until the
Instituto Espanol de Moneda Extranjera has
certified in writing that the Instituto^
Espanol de Moneda E x t r a d e r a has determined
that such transaction complies with the
conditions of paragraphs (a) and (b) above.
'# Part"l"3i; - 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; Regulations, April 10 ,
1940, as amended June 14, 1941.
26-^7
-
(2)
2
-
This general license also authorizes any payment or
transfer from a blocked account in which any national of
Spain has an interest to a blocked account in a domestic bank
in the name of the Instituto Espanol de Moneda Extranjera;
provided, however, that this authorization shall not be deemed
to authorize any payment or transfer from a blocked account
in which any national of a blocked country, other tnan S p a m ,
has an interest,
or has had an Interest at any time on or since
the effective date of the Order*
(3)
Except as provided in paragraph (2), this general
license shall not be deemed to permit any payment,
transfer or
withdrawal from any blocked account other than blocked ac
counts in the name of the Instituto Espanol de Moneda Extran
jera, until the Instituto Espanol de Moneda Extranjera has
certified, with respect to the transaction, as provided in
paragraph (l)(c) above*
(4)
This general license shall not apply with respect to
any national of Spain who is also a national of any other
blocked country*
(5)
Banking institutions within the United States en
gaging in any transactions authorized by this general license
shall file promptly with the appropriate Federal Reserve Bank
weekly reports setting forth the details of transactions
effected by them under this license.
E. H. FOLEY, JR.
A c t i n g Sec r e t a r y of the Treasury.
»rfëüij Lyziiizrzzzï
The Treasury today issued \
A
— »
general1 license unâar_diha
freezing- oritor relating to Spain and nationals thereof and their assets in
this country.
The Spanish general license authorizes any transaction
by
the Spanish Institute of Foreign Exchange, including any transaction
by the Institute for the account of other nationals of Spain, provided that
no other blocked country or national thereof is interested in such
transaction.
IVÇ
VJ
■Æba. (}»*
said that Spain has given appropriate
V -1
59UBÌfij^
TREASURY DEPARTMENT
Washington
Press Service
No* 26-48
FOR ILARDIATE RELEASE,
Friday, July 11, 1941,
The Treasury today issued a general license under the
freezing order relating to Spain and nationals thereof and
their assets in this country.
The Spanish general license authorizes any transaction
provided that
by the Spanish Institute of Foreign Exchange,
including any
transaction by the Institute for the account of other
1 such
nationals of Spain, provided that no other blocked country
or national thereof is interested in such transaction.
Treasury officials said that Spain has given approp
aopropriate
riate assurances to this Government c’
em si stent with the
general license and the purposes of the Executive Order
, \Driifll1—flf
J
Ji U
Ui
of June 14,.which extended freezing control to all
continental
countries of continental Europe.
ttootlluu
■\fju
l A
)
-OoO-
TREASURY DEPARTMENT
Office of the Secretary
July 11, 1941
GENERAL LICENSE NO. 52,
UNDER EXECUTIVE ORDER NO. 8389, APRIL
10, 1940, AS AMENDED, AND, REGULATIONS
ISSUED PURSUANT THERETO, RELATING TO
TRANSACTIONS IN FOREIGN EXCHANGE, ETC.*
(l)
A general license is hereby granted licensing any
transaction referred to in Section 1 of the Order,
if (i)
such transaction is by, or on behalf of, or pursuant to the
direction of Spain, or any national thereof, or (iiy such
transaction involves property in which Spain, or any national
thereof, has at any time on or since the effective date of
the Order had any interest, provided, tnat:
(a)
Such transaction is not by, or on behalf
of, or pursuant to the direction of any
blocked country or any national thereof,
other than Spain or any national of Spain;
and
(b)
Such transaction does not involve property
in which any blocked country or any nation
al thereof, other than Spain or any nation
al of Spain, has at any time on or since
the effective date of the Order had any
interest; and
(c)
If such transaction is not by, or on behalf
of, or pursuant to the direction of the
Instituto Espanol de Moneda Extranjera, such
transaction shall not be effected until the
Instituto Espanol de Moneda Extranjera has
certified in writing that the Instituto^
Espanol de Moneda Extranjera has determined
that such transaction complies with the
conditions of paragraphs (a) and (b) above.
* Fart 131; - Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat.
1; 54 Stat. 179; Ex. Order 8339, April 10, 1940, as amended
by Ex. Order 8785, June 14, 1941; Regulations, April 10,
1940, as amended. June 14, 1941.
26—4-7
2
(2)
This general license also authorizes any payment or
transfer from a blocked account in which any national of
Spain has an interest to a blocked account in a domestic bank
in the name of the Instituto Espanol de Moneda Extranjera;
provided, however,
that this authorization shall not be deemed
to authorize any payment or transfer from a blocked account
in which any national of a blocked country,
has an interest,
other than Spain,
or has had an interest at any time on or since
the effective date of the Order.
(3)
Except as provided in paragraph (2), this general
license shall not be deemed to permit any payment,
transfer or
withdrawal from any blocked account other than blocked ac
counts in the name of the Instituto Espanol de Moneda Extran
jera, until the Instituto Espanol de Moneda Extranjera has
certified, with respect to the transaction, as provided in
paragraph (l)(c) above*
(4)
This general license shall not apply with respect to
any national of Spain who is also a national of any other
blocked country.
(5)
Banking institutions within the United States en
gaging in any transactions authorized by this general license
shall file promptly with the appropriate Federal Reserve Bank
weekly reports setting forth the details of transactions
effected by them under this license.
E. H. FOLEY, JR.
Acting Secretary of the Treasury.
TRjiASURY D E P A R T M E N T
Washington
FOR IMMEDIATE RELEASE
^Lflkwv*^.
P r ess S e r v i c e
/
fJuly 1Ä,
1941
S e c r e t a r y M o r g e n t h a u a n n o u n c e d t o d a y that
G o v e r n o r H e n r y F. S c h r i c k e r of I n d i a n a has a c c e p t e d
H o n o r a r y Chair m a n s h i p
of h i s S t a t e c o m m i t t e e for o r g a n i
z a t i o n of the N a t i o n a l D e f e n s e S a v i n g s c a m p a i g n «
This brings to
the n u m b e r of G o v e r n o r s
serving
in the c a m p a i g n to sell D e f e n s e Sa v i n g s B o n d s a n d Stamps.
TREASURY DEPARTMENT
Washington
Press Service
No. 26-49
FOR IMMEDIATE RELEASE,
F'rldaÿ, July'11, 1941.
Secretary Morgenthau announced today that
Governor Henry F. Schricker of Indiana has accepted
Honorary Chairmanship of his State committee for organ!
zation of the National Defense Savings campaign*
This brings to twenty—one the number of Governors
serving in the campaign to sell Defense Savings Bonds
and Stamps.
-OoO-
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
WASHINGTON,
J u l y ___
P r ess Se r v i c e
—
The 756 citizens o f Shelby-
ville, Missouri,
l a y c l a i m to b e i n g
"the b i g g e s t small
tow n in A m e r i c a "
to r e g i s t e r 100 p e r cent i n the Treasury
D e p a r t m e n t Ts D e f e n s e S a v i n g s Program*
D a n M* Nee, M i s s o u r i S t a t e A d m i n i s t r a t o r , h a s informed
S e c r e t a r y M o r g e n t h a u that e v e r y o n e of S h e l b y v i l l e 1s 756
citiz e n s h a s a l r e a d y p u r c h a s e d a D e f e n s e S a v i n g s B o n d or
Stamp,
a c c o r d i n g to i n come ability*
The T r e a s u r y h a s d i s p a t c h e d a l e t t e r o f c o n g r a t u l a
tions to S h e l b y v i l l e fs citizens*
Department records,
p e r c e n t ” town*
A c c o r d i n g to T r e a s u r y
S h e l b y v i l l e is A m e r i c a n s
s e c o n d "100
The f i r s t ”1 00 p e r c e n t e r " w a s Meddybemps,
Maine, w h o s e 99 c i t i z e n s a ll p u r c h a s e d e i t h e r B o n d s or
S t a m p s o n M a y 1,
the d a y the D e f e n s e S a v i n g s P r o g r a m was
inaugurated#
* oOo
- T R E A S U R Y D E PÀ R T M E*
D epartmental S tock F ork 2*
SPECIAL
i|
It is Importanti
th a t th is Paper 1
should be made 1
Special.
V.ft.OOYIRNM
BNTPIINTIN6OFFICI 2-6010
TREASURY DEPARTMENT
Washington
F OR
P r ess Service
IMMEDIATE RELEASE
S e c r e t a r y M o r g e n t h a u t o d a y a n n o u n c e d the appo i n t m e n t
s t a t e s ’ par-ticipatiaii— in- the N a t i o n a l D e f e n s e Sa v i n g s
rcgrarti
The a d m i n i s t r a t o r s
in the s e v e n states
just n a m e d
to the T r e a s u r y D e p a r t m e n t ’s D e f e n s e S a v i n g s S t a f f are:
W i l l i a m P. Stuart,
Boise,
Idaho;
Nevada;
Island;
J o h n R. Viley,
S t e v e n P. Vidal, A l b u q u e r q u e ,
R a l p h Nicholas,
Reno,
Phoenix, A r i zona;
Denver,
Colorado;
J o s e p h V. B r o d e r i c k ,
N e w Mexico;
R o b e r t L« D o u g lass,
Providence,
Rhode
a n d F r a n k J. Kuhl, M i l w a u k e e , W i s c o n s i n .
oOo-
*p*r
4at Mi
Dan M. Nee, State Administrator' -Ur
Missouri has informed Secretary
A
J
that Shelbyville, Missouri^ with a population of
to hoinc nthii> "MggaBt small
the
limkima
1gr'liwrwi-r Uly
7
iaya claim-
luO per cent in
*v^v ki
Tib nhi,V in Iri -i
-rf M irlrlhjilii1mi mj M riimn
first
to establish a 100 percent record for their town in the purchase of Defense
v JL£--slD
Secretary Morgenthau today announced the appointment of seven
additional State Administrators to assume charge of the National Defense
Savings campaign in their «»»States.
The newly appointed Administrators are all Collectors of Internal
Revenue.
They arej^ William P. Stuart, Phoenix, Arizona; John R. Viley,
Boise, Idaho; Steven P. Vidal, Albuquerque, New Mexico; Ralph Nicholas,
Denver, Colorado; Robert L. Douglass, Reno, Nevada; Joseph V. Broderick,
ndi and Frank J • Kuhl, Milwaukee, Wisconsin.
Providence, Rhode Island!
)
TREASURY DEPARTMENT
Washington .
[FOR IMMEDIATE RELEASE,
Friday, July 11, 1941,
Press Service
No. 26-50
Secretary Morgenthau today announced the appointment of
seven additional State Administrators to assume charge of the
[National Defense Savings campaign in their States.
The newly appointed Administrators are all Collectors of
Internal Revenue.
They are William P. Stuart, Phoenix,
¡Arizona; John R. Viley, Boise, Idaho; Steven P. Vidal,
■Albuquerque, New Mexico; Ralph Nicholas, Denver, Colorado;
»Robert L. Douglass, Reno, Nevada; Joseph V. Broderick,
[Providence, Rhode Island, and Frank J. Kuhl, Milwaukee,
Wisconsin.
Dan M. Nee,
State Administrator for Missouri, has in
formed the Secretary that Shelbyville, Missouri, with a
population of 756 is the second town to register 100 per cent
in the campaign.
First to establish a 100 percent record for
1their town in the purchase of Defense Savings Bonds or Stamps
jwero the ninety-nine inhabitants of Meddybemps, Maine, who
[purchased the securities on May 1, the day the program was
I
inaugurated..
-oOo-
TREASURY DEPARTMENT
Wash!nrton
TOR RELEASE, MORNING NEWSPAPERS,
■Saturday, July 12, 1941. ____
p/11/4-1
Press Service
No. 26-51
The Treasury Department tod^y announced plans which will enable
more than 1,251,000 Federal employees throughout the United States
to participate in the National Defense Savings campaign by periodic
investment of part of their earnings in Defense Savings Bonds and
Stamps.
Both in Washington and in the field, heads of bureaus, offices
and divisions are being named to general departmental committees to
bring the campaign to the attention of the Federal employees and to
Iencourage the purchase of Defense Savings securities.
This program was started at the Treasury only a few weeks ago.
Already, more than 17,000 of the 19,982 Treasury employees in
Washington, or 85 per cent, have pledged to buy $95,944 in Bonds
and Stamps each month.
Of the 9,176 Treasury employees in field
service, 6,133, or 67 per cent, have pledged to make monthly purchase
totaling $30,265.
In all, 23,133, or 79 percent of the total number
of Treasury employees, have signed up to buy $126,209 worth of Bonds
and Stamps monthly.
Led by Administrator Jesse H. Jones, the Federal Loan Agency
is" now busily engaged in adapting the TreasuryTs plan to its com
ponent organisations, which include the Reconstruction Finance
2
Corporation, Federal Housing Administration, Electric Home and
Farm Authority, Federal Home Loan Bank Board, Home Owners’ Loan
Corporation, Export-Import Bank of Washington, and Federal Savings
and Loan Insurance Corporation.
Mr. Jones, who is also Secretary of Commerce, personally
purchased Stamps and Bonds of each denomination, starting with the
ten-cent Stamp and ending with a $10,000 Bond.
The Home Owners’ Loan Corporation has designated its Federal
Credit Union as the issuing agent for the Defense Savings Bonds and
Stamps.
Its first Bond was purchased by John H. Fahey, chairman
of the Home Loan Bank Board.
..Secretary of Labor Perkins has named Samuel J. Gompers, chief
clerk, as the Department’s representative for the employees’ pur
chase plan in that branch of the Government.
Administrator Harrytj Slatteryb of the Rural Electrification
Administration purchased the first Defense Savings Bond from the
credit union of that agency, which he designated as the REA
employees’ issuing agent for the Bonds and Stamps.
The Securities and Exchange Commission named Albert Carretta,
supervisor of the Unlisted Tradings section, to organize and super
vise the Treasury’s plan for the convenient purchase by its employees
of Defense Savinas
O Bonds and Stamps.
X
In the other Government departments, group agents are being
designated to serve as the employees’ liaison representatives for
the handling and purchase of Bonds and Stamps, and to act as the
employees ’ agent in consummating the purchase of the securities
through the "Voluntary Purchase Plan."
Under the pi a n , 1 eder al
employees on each payday will purchase a designated amount of
Defense Savings Bonds or Stamps through the means of pledge cards
which have been distributed to them
2
?he damage to the s h i p s 1 machinery,
mainly^h
ro o m s ,
lore than sixty
f o r e i g n vessels w e r e b o a r d e d
Secretar^^forgenthau
lardsmen*
today ordered. Collectors
to "take an d re t a a ^ custody^
the vessels,
t h e i r "tackle,
•e a n d e q u i p m e n t * ”
same time the CoasrJ^
to the C u s toms
the engine
rrleers m
together with
A t the
¡d to e x t e n d coop e r a t i o n
carry±ri$k out the order*
The S e ^ e t a r y d i r e c t e d t h a t no c ^ g o
be r e m o v e d f r o m
the ve§#Bls while t h e y r e m a i n in the c u s t ^ y
or pftftil s p e c i f i c a l l y a u t h o r i z e d b y the
-0O0-
o f th e Collectors,
Treasury*
F or Im m e d i a t e R e l e a s e
S e c r e t a r y M o r g e n t h a u t o d a y d i r e c t e d C o l l e c t o r s o f Customs
to take p o s s e s s i o n of n i n e t e e n A x i s vessels,
A m e r i c a n ports,
b e r t h e d a t nine
for v i o l a t i o n of the E s p i o n a g e / c t o f 1917,
f
\
The action* a f f e c t i n g eight e e n I t a l i a n ships ^ n d one G e r m a n
vessel,
is p ^ l i m i n a r y to f o r f e i t u r e p r o c e e d i n g s in the courts*
The D e p a r t m e n t s o f State and J u s t i c a ^ a n d the M a r i t i m e
C o m m i s s i o n r e q u e s t e d the for f e i t u r e a s / p e n a l t y
jf
\
o f the s h i p s ’ m a c h i n e r V
f o r ^sabotage''\
^Vj
w h i c h r e n d e r e d the
craft u n s e a w o r t h y
a n d m ade t h e m a h a z a r d t o S s h i p p i n g y i n A m e r i c a n harbors*
The C u s t o m s d i s tricts a X l the s e i z e d v e s sels in their
j urisdiction are:
X
Mobile,
Alabama
P h i l a delphia,
/
IDA Z.O.
Pennsylvania V
ANTONIETTA
M A R GLAU C O
X
X
anta
rosa
BELVEDERE
■V
Baltimore, Maryland
PIETRO CAMPANELLA
EURO \
Boston, M a s s a c h u s e t t s
pauline\
Galvestdf,
MONGIOIA
New Yo
m
Texas
, Kew York
Norfplk,
Virginia
/
/
/
Portland,
riederich
\
S A N LEON A R D O \
VILLARPEROSA \
GIUAN
GUIDONIA
LACONIA
VI TTORIN
S A N GUI SEPPE
\
\
\
\
4
Oregon
K e w Orleans,
Louisiana
L EME
ADA 0
MONFIORE
w
Portland, Or«g&m
**» « « * » • * Im U U
m
tt. f c - o to to.
* «Um . . .
■ » . » 1 « .Urt, t m i p
„ . „ I . „ , . to„i,4 £
n
.
to ’ • ^
C„.
^ Se.p.tapy M®rg*atW« U U pM i teday 4Ir.et.4 C e i l e e t » * “
t# * * * * “ * W t o t o * “ W
•* «“
’ t#*k U * •« •» »* * l***it»** m
w
m
I i , to g eth e r e i t h t h . i r
*wlsmnu*
th. CM .t 0m p 4 ea. erderei te eit«*4
»m etre ia tarrying out the direotioa.
Alth.Ma.ti»
t . the c«.toa.
» . Se.pet.py d ip ..trt that no eergo be reeved fro* m
™ M li ^
* * * * * 4» *■ **•
ef the fieUeetep. « t i l
•fM ifieeliy aatheriaei hr the Trceewy er hy the eeurte.
Only vessels which have been sabotaged are being seized.
7
.
/o ’ u : 'V'
:" A
WSmmmm&m
ili
iiilis®
W
■'¿W, :■-■/
Wmmmlw
ls(For Iw o à ia it ililiè i#
Secretar? iorganthau todaf direetei Collettore l f Cu*tome
to n i » elghteen ixì» T ii u li i berthed i t alno American porte,
for Tiolatloa of thèRaflo*age Aet of 1917,
■ :
mi
gij
Tha ootloa, iffw t*
f
lag «tToatoon Xtal ita aàip* «ad «ss 3araaa t cesai, la prallaiitarjr
to forfaiture proeeaàiaga la tha oourta baaauaa of sabotaga to
tha vaaaala «lille lylag la Aawriaaa harbora,
in
Tha aetloa ma takoa aitar tha Uopartasat of Juatiea had
tdrised tha Saaratarjr of tha Traaawy thafc thara axiatad "probabl#
cauta* for tha aalaura of tha aaaaelo,
Tha Cuatoaa dlatriata and tha aalted vaaaala la tha Ir jurìa-4
7^,
' •
7r
dlotlon ara»
ny
j
Mobile, Alabaaa
XBA £• 0»
Phiìadelphia, Pennsylvania
AMTOIIKTTA
MAI GLAUCO
SUSTA AOSA
BELVEDERI
Baltimore, Maryland
PIETRO CAMPAHELLA
EDIO
Boston, Maaaaohuaatta
p a d u ie
ffalveaton» Tasta
MOMIOIA
Ma« York, ia* !«rk
SAI! UOIM DO
VlLLAlPEiiOSÀ
fiorfolk, Virginia
GIUAN
r a iip iifi
auiimi
B
SAJ
|1|Ì|
Mm
ISFfr
“-r;:■
v^
¡filili
ilS!
Ì
¿¡SSÉ
SEPPE
mi
ss
3é®i
TREASURY -DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, Jul]/- 11, 1941.
Press Service
No. 26-52
Secretary Morgenthau today directed Collectors of
Customs to seize sixteen Axis vessels, berthed at nine
American ports, for violation of the Espionage Act of 1917.
The action, affecting fifteen Italian ships and one German
vessel, is preliminary to forfeiture proceedings in the courts
because of sabotage to the vessels while lying in American
harbors.
The action was taken after the Department of Justice had
advised the Secretary of the Treasury that there existed
"probable cause” for the seizure of the vessels.
The Customs districts and the seized vessels in their
jurisdiction are:
Mobile, Alabama
IDA Z.O.
Philadelphia, Pennsylvania
ANTONIETTA
MAR GLAUCO
SANTA ROSA
BELVEDERE
Baltimore, Maryland
PIETRO CAMPANELLA
EURO
Boston, Massachusetts
PAULINE FRIEDERICH
Galveston, Texas
MONGIOIA
New York, New York
SAN LEONARDO
VILLARPEROSA
- 2 Norfolk, Virginia
VITTORIN
SAN GIUSEPPE
Portland, Oregon
LEME
Now Orleans, Louisiana
ADA 0
MONE!ORE
The damage to the vessels first came to light on March 30,
when more than sixty foreign vessels were boarded by Coast
Guardsmen.
The Treasury Department, through the Coast Guard,
has had possession and control of the vessels since that date.
Secretary Morgenthau’s telegram today directed Collectors
to "take and retain custody” of the vessels, together with
their "tackle, apparel, furniture and equipment.” At the same
time tne Coast Guard was ordered to extend cooperation to the
Customs officers in carrying out the direction.
The Secretary directed that no cargo be removed from the
vessels while they remain in the custody of the Collectors
until specifically authorized by the Treasury or by the courts.
Only vessels which have been sabotaged are being seized.
The Pauline Friederich is of German Registry; the re
mainder are Italian.
o 0 o
Harford Powel
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Press Service
Entitled "For America We Sing", the new 99&B3B9&& program^
•eaCtfllg
is designed as a Mmusical Americana”,
~~~1nifi 111|
i iiniiljiiini ~ 1 1 p a 44-piece NBC orchestra
and chorus, under the baton of Frank Black, NBC’s musical director. |^rf
•bcoadAAsd*
The radio time and the
services of the artists are being donated by NBC a & ^ m iMKC38?
na+.wiylffo
-- --------- rflu ^fHTIfgl
Dorothy Maynor and Frank Munn will be featured on the
first broadcast on Tuesday, July 22.
Other stars scheduled for
the ”For America We Sing1* series include Helen Jepson and Frank
Parker on July 29, Rose Bampton and Robert Weede on August 5 and
Lanny Ross and Gladys Swarthout on August 12.
on succeeding programs will be announced later.
oOo -
Artists to be heard
(o
new ^ ei*ens© Savings Bond radio program featuring
operatic and concert
singers will be broadcast every Tuesdav
evening for a year , beginning July 22 , the Treasury Department
announced today • The broadcast will go on the air <PtT from 7:30
a Z /?
P ’m# EST over the blue netw°rk of the National Broadcasting
Sompany
{
i
TREASURY DEPART®]
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, July 15, 1941,
featuring
ryTuesday
Press Service
No. 26-53
A new Defense Savings Bond radio program featuring
1Spartii
* frc operatic and concert singers will be broadcast every Tuesday
IBroadcast
evening for a year, beginning July 22, the Treasury Department
announced today.
The broadcast will go on the air from 7:30
to 8 p.m., E.S.T. ever the blue network of the National
Broadcasting Company.
Entitled ,!For America We Sing", the
new program is designed as a "musical Americana".
A 44-piece
NBC orchestra and chorus, under the baton of Frank Black,
NBC’s musical director, will accompany the artists.
The
radio time and the services of the artists are being donated
by N B C .
Dorothy Maynor and Frank Munn will be features on the
first broadcast on Tuesday, July 22.
Other stars scheduled
for the "For America We Sing" series include Helen Jepson and
Frank Parker on July 29, Rose Bampton and Robert Weede on
I
August 5 and Lanny Ross and Gladys Swarthout on August 12.
Artists to be heard on succeeding programs will be announced
later.
-OoO-
FOR RELEASE, FORKING NEWSPAPERS
Tuesday, July 15, 1941,_ _ _ _ _ _ _
Press Service
No. 26-54
The Secretary of the Treasury announced last evening that
the tenders for $100,000,000, or thereabouts, of 91-day Treasury
bills, to be dated July 16 and to mature October 15, 1941, which
were offered on July 1 1 , were opened at the Federal Reserve Banks
on July 14.
The details of this issue are as follows:
Total applied for - $3Q6,089>000
Total accepted
- 100,337,000
Range of accepted bids:
High - 39.990 Ecp ivalent rate approximately 0.040
u
Low
- 99.972
0 .111
Average tt
n
price - 99.975
0.097
(68 percent of the amount bid for at the low price Was accented)
o 0 o
PRESS RELEASE:
The Bureau of Customs announced today, preliminary figures showing the
quantities of wheat and wheat flour entered, or withdrawn from warehouse, for
consumption under the im port quotas established in the President's Proclamation
of May 28, 1941, for the twelve months coraaencing May 29, 1941, as follows:
IIP/
insestt
Wheat
Country of
Origin
Canada
China
Hungary
Hong Kong
Japan
United Kingdom
Australia
Germany
Syria
New Zealand
Chile
Netherlands
Argentina
Italy
Cuba
France
Greece
Mexico
Panama
Uruguay
Poland and Danzig
Sweden
Yugoslavia
Norway
Canary Islands
Rumania
Guatemala
Brazil
Union of Soviet
Socialist Republics
Belgium
Toted
«
•
Established :
Quota
:
(Bushels)
795,000
—
—
100
—
100
100
—
100
2,000
100
1,000
100
J ■*
—
—
—
—
—
—
1,000
100
100
100
100
800,000
Imports May
29, 1941 to
June 28.1941
(Bushels)
85,438
**
m
mm
mm
mm
mm
mm
mm
mm
mm
mm
mm
mm
mm
_
mm
mm
mm
mm
mm
—
mm
mm
Wheat flour, semolina,
crushed or cracked wheat,
and similar wheat Droducta
#
• Imports May 29,
Established : 1941 to June 28,
Quota
: 1941
(Pounds)
(Pounds)
3,815,000
1,037
24,000
2,500
1 3 ,00 a
13,000
400
8,000
; ijil
75,000
is
1,000
5,000
5,000
I
1,000
1,000
1,000
14,000
2,000
12,000
57
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
IS
11m
1,000
Iff
I lisiDuui
mm
-
-
-
4,000,000
3,994
mm
85,438
iW
TREASURY DEPARTMENT
Washington
FOR I M M E D I A T E RELEASE,
Tuesday, J u l y 15, 1 9 4 1 *
Press Service
No* 2 6 -55
rne uureau of Customs announced today, preliminary figures showing the
quantities of wheat and wheat flour entered, or withdrawn from warehouse, for
consumption under the import quotas established in the Presidents Proclamation
of May 28, 1941, for the twelve months commencing May 29, 1941, as follows:
Wheat
Country of
Origin
Canada
China
Hungary
Hong Kong
Japan
United Kingdom
Australia
Germany
Syria
New Zealand
Chile
Netherlands
Argentina
Italy
Cuba
France
Greece
Mexico
Panama
Uruguay
Poland and Danzig
Sweden
Yugoslavia
Norway
Canary Islands
Rumania
Guatemala
Brazil
Union of Soviet
Socialist Republics
Belgium
Total
*
•
Established :
Quota
:
(Bushels)
795,000
-
100
—
100
100
—
—
100
2,000
100
1,000
~
100
1\ —
—
Imports May
29, 1941 to
June 28,1941
(Bushels)
85,438
—
—
—
—
—
—
—
—
—
_
—
—
—
—
—
—
—
—
—
—
—
-
—
-
—
—
—
1,000
100
100
100
100
800,000
Wheat flour , semolina,
crushed or cracked wheat,
and similar wheat Droducta
•
• Imports May 29,
Established : 1941 to June 28,
Quota
: 1941
(Pounds)
(Pounds)
3,815,000
1,037
24,000
2,500
1 3 ,0 0 Q l
m
13,000
400
8,000
75,000
1,000
5,000
5,000
1,000
1,000
a*
1,000
«.
14,000
2,000
12,000
57
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
&
1,000
m i
mm
mm
mm
mm
mm
mm
mm
—
—
mm
—
mm
mm
—
—
-
—
—
—
mm
85,438
4,000,000
3,994
TREASURY DEPA1
Washington
FOR ILLEDIATE RELEASE,
Tuesday, July 15, 194],.
iTT
Press Service
No. 26-55
The Bureau of Customs announced toda J? t
preliminary figure;
shovdng the quantities of vdieat and wheat flour entered, or
withdrawn from Yfarehouse, for consumption under the import
quotas established in the President’s Proclamation or iviay w28 ,
1941, for the twelve lonths commencing Iviay 29, 1941, as follows
Wheat flour semolina,
crushed or cracked wheat,
and similar wheat products
,
Wheat
Country of
Origin
Canada
China
Hungary
Hong Kong
Japan
United Kingdom
Australia
Germany
Syria
New Zealand
Chile
Netherlands
Argent ina
Italy
Cuba
France
Greece
Mexico
Panama
Uruguay
Poland and Danzig
Sweden
Yugoslavia
Norway
Canary Islands
Romania
Guatemala
Brazil
Union of Soviet
Socialist Republics
Belgium
Total
Imports May
Established: 29, 1941 to
June 28,1941
(Bushels)
(Bushels)
795,000
85,438
-
-
-
-
100
-
-
-
100
100
-
-
-
-
100
2,000
100
-
-
1,000
-
-
-
100
-
-
-
-
-
-
-
-
-
-
-
-
-
a .
Established
Quota
(Pounds)
3,815,000
24,000
13,000
13,000
8,000
75,000
1,000
5,000
5,000
1,000
1,000
1,000
14,000
2,000
12,000
1,000
1,000
1,000
1,000
1,000
1,000
•1,000
1,000
1,000
1,000
1,000
100
100
-
-
100
100
-
-
800,000
:
i
:
Imports May 29,
1941 to June 28,
1941
(Pounds)
1,037
2,500
400
M»
aw
•a
m
m
aw
»7
m.
mm
m»
m
mm
-
mm
85,438
-oOo-
4,000,000
m
3,994
;
TEE&Smi DEPAHTMENT
Washington
roa
Presa Service
SLXp^^Ìq
tm a sm n
Ttt»«d«r» Jalr li. m i
Secretar? e t thè Treasuiy Morgenthau today announeed thè subscription
figure« and thè basì« of allotiasnt fa r thè o ff «ring of 1-1/8 percent note#
o f Serie« 0 o f thè Coonodlty Credit Corporation*
Esperte reoeìved froa thè Federai Reaerve Baite show that subscriptiene aggregate #5,357,000,000*
Of th is to ta l, about 1201,000,000 «ere
reoeìved frora holdere o f Serie« B notes o f thè Corporation it e tenderei
a H ke par amount o f snob notes te thè Seeret&ry fo r purchaee.
S ite sub-
scrip t ione nere a llo tte d In f u l l , and a l l other subscription« «ere
a llo tte d
percent, but net lese thaxi 11,000 on any one subscription*
Further dotali« ae te «ebacrlptian* and alletaen te «111 be announeed
« Ite fin a l reports are reoeìved f i t e thè foderai Heserve Benha*
0 60
TREASURY DETARTRENT
V/ashineton
FOR IiuEEpIATE RELEASE,
Tuesday, July 15, 1941
Press Service
No. 26-56
Secretary of the Treasury Morgenthau today announced
the subscription figures and the basis of allotment for
the offering of 1-1/8 percent notes of Series G of the
Commodity Credit Corporation.
Reports received from the Federal Reserve Banks show
that subscriptions aggregate $5,357,000,000.
total, about 5201,
Of this
ere received from holders o.
Series D notes of the Corporation who tendered a like par
amount of such notes to the Secretary for purchase.
Such
subscriptions were allotted in full, and all other sub
scriptions were allotted 4 percent, but not less than
$ 1,000 on any one subscription.
Further details as to subscriptions and allotments
will be announced when final reports are received from
the Federal Reserve Banks.
-ouo-
TREASURY DEPARTMENT
Office of the Secretary
July 15, lÿU.
AMENDMENT OE GENERAL LICENSE NO# ^5*
UNDER EXECUTIVE ORDER NO. S3 S9 , APRIL
10, 19 UO, AS AMENDED, AND REGULATIONS
ISSUED PURSUANT THERETO, RELATING TO
TRANSACTIONS IN FOREIGN EXCHANGE, ETC.*
General License No. U 5 is hereby amended as follows:
(a)
Paragraph (l) thereof is amended to read as follows:
"(1) A general license is hereby granted authorizing
any banking institution within the United States to make
payments from blocked accounts, other than blocked accounts
of Norway, Denmark, the Netherlands, Belgium, Luxembourg,
France, Latvia, Estonia, Lithuania, Rumania, Bulgaria,
Hungary, Yugoslavia, or Greece, or any national thereof,
of documentary drafts drawn under irrevocable letters of
credit issued or confirmed by a domestic bank prior to
June 1^+, 19^1.”
(b)
Paragraph (U) thereof is amended to read as follows:
»This license shall expire at the close of business on
August 15, 19^1*n
E. H. FOLEY, JR.
Acting Secretary of the Treasury.
tìvn
* Part 131; - Sec. 5(b), 40 Stat. 415 and
Sec. 2, US Stat.l;
b Stat. 179; Ex. Order S3&9, April 10, 19 UO, as amended by
x. Order S?S5, June 1^, 19Ul; Regulations, April 10, 19^0, as
amended June iH, 19^-1•
PRESS RETKASEs
The Bureau of Customs announced today preliminary figures for imports of
coffee subject to quota limitations under the Presidents proclamation of the
Inter-American Coffee Agreement on April 15, 1941#
The following tabulation lists the coffee quotas which have been filled,
and shows import figures for the quotas now under telegraphic control as of
July 12, 1941*
Total imports under the other coffee quotas are shown as of
July 5, 1941.
Quota Period
Country of Production
: Revised 1/
: Quota (lbs*)
Entered for Consumption
:
••
Pounds
: As of (Date )
Quota Period - 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
Cuba
El Salvador
Honduras
Nicaragua
Ecuador
Haiti
Peru
Brazil
Mexico
Non-signatory countries:
All types of coffee
Quota Period - April 22 to
August 31, 1941, i n d :
Non-signatory countries:
Mocha coffee
(Import quota filled)
it
n
it
f!
II
It
ft
M
M
ff
H
ft
16,138,333
71,950,208
56,484,233
423,632,012
26,897,267
10,758,933
80,691,799
2,689,700
26,224,775
July 5, 1941
it
it
tt
7,065,708
65,086,688
1,896,014
19,736,067
19,222,602
36,696,225
3,037,584
1,219,626,585
60,240,750
20,173,016
36,983,708
3,362,191
1,250,722,887
63,880,975
July 12, 1941
tt
tt
tt
tt
47,742,641
July 12, 1941
46,121,876 7j
2,645,520
July 12, 1941
1,024,755 2/
3/ Quotas increased by Inter-American Coffee Board, as of June 1, 1941. #
2/ Under the terms of an Executive order, effective June 14, 1941, the increased
import quota for non-signatory countries is subject to the allocation of a
marirmim of 20,OCX) bags for coffee of the Mocha type which may be entered for
consumption from April 21 to August 31, 1941, inclusive*
ŒREASURY DEPARTMENT
Washington
POR I M M E D I A T E RELEASE,
W e d n e s d a y , J uly 16, 1 9 4 1 ,
P r e s s Service
No. 26-58
f
!
The Bureau of Customs announced today preliminary figures for imports of
coffee subject to quota limitations under the Presidents proclamation of the
Inter-American Coffee Agreement on April 15, 1941.
The following tabulation lists the coffee quotas which have been filled,
and shows import figures for the quotas now under telegraphic control as of
July 12, 1941*
Total imports under the other coffee quotas are shown as of
July 5, 1941.
Quota Period
Country of Production
: Revised 1/
: Quota (lbs.)
:
Entered for Consumption
: As of (Date )
:
Pounds
Quota Period - 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
Cuba
El Salvador
Honduras
Nicaragua
Ecuador
Haiti
Peru
Brazil
Mexico
Non-signatory countries:
All types of coffee
Quota Period - April 22 to
August 31, 1941, incl:
Non-signatory countries:
Mocha coffee
(Import quota filled)
tt
it
ti
N
It
it
11
it
11
it
«
h
16,138,333
71,950,208
56,-184,233
423,632,012
26,897,267
10,758,933
80,691,799
2,689,700
26,224,775
July 5, 1941
n
H
ft
7,065,708
65,086,688
1,896,014
19,736,067
20,173,016
36,983,708
3,362,191
1,250,722,887
63,880,975
July 12, 1941
it
it
it
it
19,222,602
36,696,225
3,037,584
1,219,626,585
60,240,750
47,742,641
July 12, 1941
46,121,876
2,645,520
July 12, 1941
1,024,755 g j
1/ Quotas increased by Inter—American Coffee Board, as of June 1, 1941. '
f
2/ Under the terms of an Executive order, effective June 14, 1941, the increased <
import quota for non-signatory countries is subject to the allocation of a
I
mp-Hrmim of 20,000 bags for coffee of the Mocha type which may be entered for
consumption from April 21 to August 31, 1941, inclusive.
/r
Quota Period - 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
16 *138,333
71,950,208
56,484,233
423,632,012
26,897,267
Cuba
El Salvador
Honduras
Nicaragua
Ecuador
Haiti
Peru
Brazil
Mexico
10,758,933
80,691,799
2,689,700
26,224,775
(import quota filled)
July 5,1941
tt
n
tt
tt
tt
tt
tt
tt
tt
tt
it
u
tt
u
tt
7,065,708
65,086,688
1,896,014
19,736,067
20,173,016
36,983,708
3,362,191
1 ,250,722,887
63,880,975
July 12, 1941
47,742,641
July 12, 1941
46,121,876 2/
2,645,520
July 12, 1941
1,024,755 2/
Non-signatory countries:
All types of coffee
Quota Period - April 22 to
August 31, 1941, incl:
Non-signatory countries:
Mocha coffee
tt
tt
tt
tt
19,222,602
36,696,225
3,037,584
1,219,626,585
60,240,750
y Quotas increased by Inter-American Coffee Board, as of June 1, 1941.
2 / Under the terms of an :Executive order, effective June 14, 1941, the increased
import quota for non-s ignatory countries is subject to the allocation of a
maximum of 20,000 bags for coffee of the Mocha type which may be entered for
consumption from April 21 to August 31, 1941, inclusive.
,*
J-
-,
- 2Reserve Banks and Branches, following which public announcement will he made "by j
the Secretary of the Treasury of the amount and price range of accepted bids.
Those submitting tenders will be advised of the acceptance or rejection thereof,
The Secretary of the Treasury expressly reserves the right to accept or reject
\
I
any or all tenders, in whole or in part, and his action in any such respect
shall be final.
Payment of accepted tenders at the prices offered must be made
or completed at the Federal Reserve Bank in cash or other immediately available
funds on
Jnly
PI, IQUi____________ .
The income derived from Treasury bills, whether interest or gain from
the sale or other disposition of the bills, shall not have any exemption, as
such, and loss from the sale or other disposition of Treasury bills shall not
<
have any special treatment, as such, under Federal tax Acts now or hereafter
enacted.
The bills shall be subject to estate, inheritance, gift, or other
excise taxes, whether Federal or State, but shall be exempt from all taxation
now or hereafter imposed on the principal or interest thereof by any State, or
any of the possessions of the United States, or by any local taxing authority.
For purposes of taxation the amount of discount at which Treasury bills are
originally sold by the United States shall be considered to be interest.
Treasury Department Circular Ho, 418, a.s amended, and this notice, pre-j
scribe the terms of the Treasury bills and govern the conditions of their issue,
Copies of the circular may be obtained from any Federal Reserve Bank or Branch, i
1
I
4
TREASURY
l?ARTMENT
^ecr
ishington
EOR REREAD
MORN DIG NEWSPAg
Friday.
is.. iM .
The Secretary of the treasury, by this public notice, invites tenders
for » 100.000.000
or thereabouts, of
91 -day Treasury hills, to he issued
on a discount basis under competitive bidding*
be dated
.Tt-TLy
F%
The Dills of this series will
. 19^1 ______ , and will mature — Opt
xWc
when the fane amount will be payable without interest.
J
:1 0
S2t.--l.9kl-
ityvai
fa*
They will be issued in
bearer form only, and in denominations of »1,000, $5,000, $10,000, $100,000,
thecio
$500,000, and »1 ,000,000 (maturity value).
Tenders will be received at Federal Reserve nanks and Branches up to the
closing hour, two o ^ l o c k p. m., Eastern Standard time, Monday, July 21,..1^3--- I
4
Tenders will not be received at the Treasury Department, Washington.
Each tender
must be for an even multiple of »1 ,000 , and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
Fractions
It is urged that tenders be made on the pointed forms and for
¡¡lilt
warded in the special envelopes which will be supplied by Federal Reserve Banks
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and
trust companies and from responsible and recognized dealers in investment securi-i
ties*
Tenders from others must be accompanied by payment of 10 percent of the
face amount of Treasury bills applied for, unless the tenders are accompanied by ^
an express guaranty of payment by an incorporated bank or trust company.
Immediately a.fter the closing hour, tenders will be opened at the Federal
fiEdOPS
TREASURY DEPARTMENT
POR RELEASE, MORNING NEWSPAPERS
Friday, Jul'
T R S A S m rS i^ iU t'rM S iv r
ashington
<
FOR RELEAS^f MORNING NEWSP
F r id a v .y ^ ily I S . 19Ul
kxbck
The Secretary o f the Treasury f hy th is p u b lic n o tic e , in v ite s tenders
fo r $ 100,000,000
or thereabouts, o f
91 - day Treasury h i l l s , to he issued
on a discount b a sis under com petitive b id d in g.
be dated
The D ills o f t h is s e r ie s w ill
JifL v 2^. IQUl________ » and w ill mature — Op% QÌ2QT SR
x^c4)c
when the fa c e amount w ill be payable without in t e r e s t .
------------------ »
sdxx
They w ill be issued in
bearer form o n ly , and in denominations o f $1,000, $5,000, $10,000, $100,000,
$500,000, and $1,000,000 (m aturity v a lu e ) .
Tenders w ill be received at Federal Reserve Banks and Branches up to the ■
c lo s in g hour, two o ^ lo c k p . m ,, Eastern Standard tim e, Monday, Ju ly 21,.,-L9kl----Tenders w ill not be receiv ed at the Treasury Department, Washington,
I
Each tender j
must be fo r an even m u ltip le o f $1,000, and the p r ic e o ffe re d must be expressed
on the b a sis of 100, with not more than three decim als, e . g . , 99,925.
may not be used.
Fractions
I t is urged that tenders be made on the pointed forms and for
warded in the sp e cia l envelopes which w ill be supplied by Federal Reserve Banks
or Branches on a p p lic a tio n th e r e fo r .
Tenders w ill be received without deposit from incorporated banks and
tr u s t companies and from respo n sib le and recognized d ealers in investment securitie s .
Tenders from others must be accompanied by payment of 10 percent o f the
fa ce amount o f Treasury b i l l s ap p lied f o r , u n less the tenders are accompanied by i
an express guaranty o f payment by an incorporated bank or tr u s t company.
Immediately a ft e r the c lo s in g hour, tenders w ill be opened at the Fedeni
S3- (o " ^>°j
TREASURY DEPARTMENT
FOR RELEASE, kORNING NEWSPAPERS,
Friday, July 18, 1941.
Secretary of the Treasury, by this public' notice, invites
The
tenders for $100,000,000, or thereabouts, of 91-day Treasury bills,
to be issued on a discount basis under competitive bidding.
The
bills of this series will be dated July 23, 1941, and will mature
rites tender
Oc tober>
99
1941, when the face amount virili be payable without
I to lie is* :
interest.
They will be issued in bearer form only, and in denomina
series vili
a_
be issued io
tions of $ 1 ,000, $5,000, $ 10,000, $100,000, $500,000, and $ 1 ,000,000
(maturity value).
Tenders will be re ceivc.d at Federal Reserve Banks and Branches
P
upX to the clos inec■u.our,
two o 1
anches fit
Monday, July 21, 1941.
T end.or
ci
nlA
T.
Department y y
V’i7
clo
ng ton*
Each
of $ 1 ,000, and "Cue price offer
100, wx tn not ;
mor e than throe
j
not •oc
use d.
It is urged that
and f or warded in th e spe cla 1 e.
Fed c-ral Re serve Banks or Branch
ed b a n ^ l
est#*li
jeeßt
Tende rs will b e roc eived i
and trust comp ani e s and from r
inv estment s ecuri ti es.
Tendon
accodi paynent of 10 ;P er cent of Cue x<
spas?*
for , unies s th O lj,■endors are aei
j
aiit« payment by an incorporated bank or trust company.
26-59
2
Immediately aft'or the closing hour, tenders will be opened at
the federal Reserve Banks and Branches, following which public
announqemont v«ill be m c.e by the Secretary of the Treasury of the
amount, and price range of accepted bids.
Those submitting tenders
i/all be advised of the acceptance or rejection thereof.
The
Secretary of the Treasury- expressly reserves the right to accept or
reject any or all tenders, in whole or in part, and his action in
any such res-met shall be final,
raiment of accepted tenders at the
prices offo,red must be made or completed at the Federal Reserve Bank
in cash or other immediately available funds on July 23, 1941,
The income derived from Treasury bills, whether interest or
-j-T_ 1
eae sa
le or other disposition of the bills, shall not have
ga,n from the
sale
ion, a s such., and
y bi 11 s shai 1 not
dl
il
x Ac
.L
v/O n or
r O
q4V
“ L
m
ft ?
ù
Q -L^
O mml CC>
sed on
or her;
enacted.
The bills shall b
inh ¡riti
but shall
+- :ie
p rincir
pos se Q~JBu ions of th
[authority.
<s such, under
Station now or heroI-vr a
CnJm_t
rjit4C-/w-v
or
)y any local taxing
For purposes of taxation the amount of discount at which
Treasury bills are oririnally sold by the United States shall be coniBiacred to be interest.
Treasury Department Circular No. 418, as amended, and this notice,
describe the terms of the Treasury bills and govern the condition of
heir issue.
Copies
of the circular may b e obtained from any Federal
•Jv
.¿serve Bank or Branch.
-OoO-
TREASURY DEPARTMENT
f-
r*
Washington
FOE m m U T E RELEASE,
Press Servio*
IW A '60
b
Secretary of tbs Treasury liorgenthau today announced the final subscrlptioe
and allotaent figurée with respect to the current offering of 1-1/8 percent note* of
Series 0 of the Genaodlty Credit Oerporatlon*
Subscriptions and allotnsnts were divided among the several Fédéral B e e e m
Districts and the Treasury as follows i
Fédéral
Reseñe
Distriet
Total Subscriptions
Received from Holders
of Series D Kotes Ten-»
dered for Purchaeo
1Allot ted in Full)
Total Other
Subscriptions
Received
Total Other
Subscriptions
Allotted
Total
Sub scriptloi
Allotted
„»istia
Iota!
Boston
Ksw York
Philadelphia
CleveLand
Richnond
Atlanta
Chicago
St, Louis
Minneapolis
Kansas City
Dallas
San Prancdseo
Treasury
TOTAL
I
7*083*000
i 138*500*000
120 ,7 9 6 ,0 0 0
2*371,O U * 0 0 0
282*515*000
317,533*000
158*612,000
5*133*000
10,262,000
4,611*000
1 ,05t ,000
226,291*000
21,527*000
2,228,000
1,029*000
12*911*000
686*296*000
1*891*000
81*783*000
5*328*000
■gaMB
1201*053*000
124,770,000
99*129,000
76,930*000
252*358*000
ÀëfiiWMiMiw
m
»9,156,536,0«)
» 17,688,000
95.250.000
11.417.000
U , 189,000
» 25,571,(
216 ,046,1
6 ,690,000
11,304,<
13,977,«
»,613,(
8,143,«
5,150,«
16,147,«
5,832,1
15,463,«
9.919.000
28,086,000
5.915.000
4.121.000
3.233.000
3.941.000
10,135,000
193.000
*210,777,000
16,850,<
dered :
24,451,(
1411,830,1
¡s e o
\Qo —
rinREASURY DEPARTK E N T
Washington
I in .,p T~
1; U X I
rl
1
r\T
-i-L' R fM A-'-L
* J nr -
A r p p D I t r ft q I ?
H^
T . , 1 i-T
P p OSS SoFViCG
•*•-*2
1 Q
"I C * A !
ppidaj , uUl} lu a i-^i*
1\T
OH
I't 0 •
iJ O — u U
£C\
Secretary of the Treasury Lorgenthau today announced the final
subscription and allotment figures with respect to the current
ofibrine of 1-1/8 percent notes of Series'G of the Commodity Credit
Cornorati on.
Subs c r in t ioni and a llotm& .ts were divided among the several
Districts and the Tr easury
aeaer a
Federal
Reserve
District
Total Other
Subscriptions
Received
Total Subscriptions
Received from Holders
of Series D Notes Ten<
dered for Purchase
(Allotted in Full)__
Boston
New York
Philadelphia
'Cleveland
Richmond
Atlanta
Chicago
’St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
7,883,000
120,796,000
5,433,000
10,262,000
4,614,000
4,058,000
24,527,000
2,228,000
1,029,000
12,914,000
1,891,000
5,328,000
90,000
£201,053,000
§
438,500,000
2,374,014,000
282,515,000
347,533,000
158,612,000
226,291,000
686,296,000
124,770,000
99,129,000
76,930,000
84,783,000
252,353,000
4,805,000
$5,156,536,000
s follows
Total Other
Subscriptions
Allotted
Total
Subscriptions
Allotted
$ 17,688,000
95,250,000
11,417,000
14,189,000
6,690,000
9,919,000
28,086>000
5,915,000
4,121,000
3,233,000
3,941,000
10,135,000
193,000
$210,777,000
$ 25,571,000
216,046,000
16,850,000
24,451,000
11,304,000
13,977,000
52,613,000
8,143,000
5,150,000
16,147,000
5,832,000
15,463,000
283,000
$411,830,000
2
• —
L i n addition to the preparation of Emergency Specifications,
the Division is intensifying its effort to bring into agreement
specifications for items necessary to the defense program which
now are covered by conflicting specifications of two or more
Government agencies.
should be covered by Federal
Specifications is being prepared for the Division by the
Office of Production
and the War and Navy Departments*
—
"
O
JZ -( o ~
(et
/
Emergency alternate specifications to existing standard
Federal specifications are being prepared by the Procurement
Division in an effort to conserve certain materials in which acute
shortages exist, Director ulifton E. Mack disclosed today*
The emergency alternate specifications, drawn in collab
oration with the Office of Production Management, are for those non
military items in general Federal use in which one or more
strategic materials are utilized*
By means of the alternate specifications, the Division
plans to minimize, and in some cases entirely eliminate these
scarce materials which now appear in many non-defense items.
Already promulgated are twenty-six emergency alternate
specifications designed to conserve zinc, chromium, bronze, cork,
nickel, brass, aluminum and steel alloys.
The amended specifications cover such items as corrugated
JLA**
i, laundry appliances, chain-link or welded
fencing, etc.
Under the standard Federal Specifications, for example,
zinc is used as a galvanizer f
T
h
e
Emergency
Specification eliminates the use of zinc and substitutes metallic,
painted, lacquered or enameled corrosion protective coating.
In
another Emergency specification, use of zinc is minimized by pro
viding for a thinner coat of the metal through use of electro
plating rather than hot dipping.
r&'j- JL*!?
TOR RELEASE,
MORNING NEWSPAPERS8 * ^ *
20, 1 9 4 1 . ° ■A P E R S '
Press S e r vice
No. 2 6 h
(c>l
Federal specifications are being prepared by the Procurement
Division in an effort to conserve certain materials in which acute
shortages exist, Director olifton E. Mack disclosed today.
The emergency alternate specifications, drawn in collab
oration with the Office of Production Management, are for those non
military items in general Federal use in which one or more
strategic materials are utilized.
By means of the alternate specifications, the Division
plans to minimize, and in some cases entirely eliminate these
scarce materials which now appear in many non-defense items.
Already promulgated are twenty-six emergency alternate
specifications designed to conserve zinc, chromium, bronze, cork,
nickel, brass, aluminum and steel alloys.
The amended specifications cover such items as corrugated
t, laundry appliances, chain-link or welded
fencing, etc.
Under the standard Federal Specifications, for example,
zinc is used as a galvanizer f
o
T
h
e
Emergency
Specification eliminates the use of zinc and substitutes metallic,
painted, lacquered or enameled corrosion protective coating.
In
another Emergency specification, use of zinc is minimized by pro
viding for a thinner coat of the metal through use of electro
plating rather than hot dipping.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Sunday, July 20, 1941.
v
Press Service
No. 26-61
Emergency alternate specifications to existing standard
Federal specifications are being prepared by the Procurement Divi
sion in an effort to conserve certain materials in which acute
shortages exist, Director Clifton E. Mack disclosed today.
The emergency alternate specifications, drawn in collabora
tion with the Office of Production Management, are for those nonmilitary items in general Federal use in which one or more strategic
materials are utilized.
By means of the alternate specifications, the Division plans
to minimize, and in some cases entirely eliminate these scarce
materials which now appear in many non-defense items.
Already promulgated are twenty-six emergency alternate specifi
cations designed to conserve zinc, chromium, bronze, cork, nickel,
brass, aluminum and steel alloys.
The amended specifications cover such items as corrugated
sheet iron containers, laundry appliances, chain-link or welded
fencing, etc.
Under the standard Federal Specifications, for example, zinc
is used as a galvanizer for pails, tubs and cans.
The Emergency
Specification eliminates the use of zinc and substitutes metallic,
- 2 painted, lacquered or enameled corrosion protective coating.
In
another Emergency Specification, use of zinc is minimized by pro
viding for a thinner coat of the metal through use of electroplating
rather than hot dipping•
In addition to the preparation of Emergency Specifications, the
Division is intensifying its effort to bring into agreement specifi
cations for items necessary to the defense program which now are
covered by conflicting specifications of two or more Government
agencies.
À list of items which should be covered by Federal Specifica
tions is being prepared for the Division by the Office of Production
Management and the War and Navy Departments *
-0O 0-
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, July 18, 1041.
Press Service
No. 28-62
At the request of Mayor LaGuardia of New York, Director
of Civilian Defense, tlie Treasury Department, through the
Procurement Division, has agreed to take charge of the disposi
tion oi the donated scrap aluminum now being collected throughout
the Uniced States by the Office of Civilian Defense.
this scrap aluminum will be sold to smelters engaged in defense
contracts.
Tr,e aluminum will be used for national defense
purposes and the proceeds of the sales will be deposited in the
General Fund of tne Treasury of the United States, subject to
disposition of the Congress.
-OoO
- 4 from ta x a tio n , and (3) to begin the taxation of future issues#
Assuming that Congress carries out these recommendations, no
holders of Triborough Bridge Authority and sim ilar obligations have | i
any reason to fear the imposition of taxes on obligation s now out
standing, Treasury attorneys said#
!
- 3 President Roosevelt thereupon recommended on January 19, 1939, i
that Congress correct the situ a tio n .
The silence of Congress since j
j
then, in the opinion of Treasury o f f i c i a l s , has l e f t the Department
no a lte r n a tiv e .
In h is message, the President sa id :
“Unless the Congress passes some le g is la tio n dealing
with th is situ a tio n prior to March 15th, I am informed by
the Secretary o f the Treasury that he w ill be obliged to
c o lle c t back taxes for at le a st 3 years upon the employes
of many State agencies and upon the security holders of
many State^corporate in stru m e n ta litie s, who mistakenly but
in good fa it h believed they were tax exempt. The assessment
and c o lle c tio n of these taxes w ill doubtlessly in many cases
produce great hardship.
"Accordingly, I recommend le g is la tio n to correct the
e x istin g inequitable situation, and at the same time to
make private income from a l l Government sa la rie s hereafter
earned and from a l l Government se cu ritie s hereafter issued
subject to the general income-tax laws o f the Ration and of
the several S ta te s . I t is d i f f i c u l t fo r almost a l l citizens
to understand why a co n stitu tio n a l provision perm itting
taxes on ’ income from whatever source derived* does not
mean ’ from whatever source derived.*"
<
Congress p a r tia lly followed th is recommendation by abating back i
taxes on public employes through the enactment o f the Public Salary
Tax Act o f 1939, but has
taken sa^ action to relieve from
tax l i a b i l i t y the holders o f outstanding se cu ritie s o f public
corporations.
Should the Supreme Court now uphold the Treasury’ s position,
the Treasury intends to renew i t s recommendation to Congress (1) to j
abate the payment o f back ta x e s, (2) to exempt outstanding issues
7
-
2
4
Coimissioner Sbamberg's assertion that the in terest on h is bonds
.
was exempt*
The present action represents no change in the Administration's
p o licy o f seeking to tax only 4&e future issues o f State and munici- j
pal s e c u r itie s .
Secretary Morgenthau^ has [ c o n s i s t e n t l y ^ iced opposi*
tio n to proposals which would subject the in te re st on outstanding
State and municipal se cu ritie s to Federal ta x e s.
I'
Treasury o f f i c i a l s b e lie v e , however, that the importance of
the issue warrants having more than one bondholder and one Authority j
i
before tbe courts.
In order to avoid putting a large class of tax- j
payers to unnecessary expense, the Bureau of Internal Revenue w ill <
proceed only against two of the many Triborough Bridge Authority
bondholders.
According to Treasury attorneys, the Bureau of Internal Revenue ii
had once ruled that the in te re st on Triborough Bridge Authority bond*
was tax exempt, but that in the lig h t o f the trend o f recent judicial
decisions the Department had to enforce the income tax law as de
clared in those d ecisio n s.
They pointed out that Secretary Morgen- ]
thau had calle d President R oosevelt's atten tion to the u$gn*t need
of le g is la tio n to remove ttaa uncertainties created by the Supreme
Court's decision in the Port Authority salary case [S04 U .S . 405;
305 U .S . 669],
M:
'
,.
4"
4■
TREASURY DEPARTMENT
Washington
f
'
FOR RELEASE AFTERNOON PAPERS*
Saturday, Ju ly 19, 1943,»
#
Press Service
No. c^ T -fa j
The Bureau of Internal Revenue today in stitu te d another test
I
case intended u ltim ately to prove in the courts that the Federal
Government has the rig h t under the Constitution to tax the income
from State and municipal se cu ritie s*
ite / ^ c tio n consisted in sending n otices of d eficien cy to two
bondholders of the Triborough Bridge Authority who had not included
in terest from th e ir bonds in th eir tax returns*
*
The Bureau1s f i r s t step was taken on March 14, 1941, when
notices of d eficien cy were sent to seven bondholders o f the Port
.1!v
<
o f New York Authority who had not included in te re st from th eir
bonds in th e ir tax returns f i l e d on March 15, 1938.
S ix o f the seven bondholders subsequently paid the deficiency
in tax claimed by the Treasury Department.
The seventh, Alexander
J . Shamberg, a Commissioner o f the Port of New York Authority,
f i le d h is appeal on June 5, 1941,
Within three weeks the Bureau
Internal Revenue f i le d i t s answer which, maintained i t s position
j
that public corporations lik e the Port o f New York Authority are
neither S ta te s , t e r r it o r ie s , nor " p o lit ic a l su b d ivisio n s", and that,!
th erefore, the in te re st from th e ir se c u ritie s is subject to the
Federal income tax under the Internal Revenue Code, and denied
TREASURY DEPARTMENT
o C f*. ' v> -t>4*OOIl
Alf
f''uOUj.Uc'
\!\!
rOR RELEASE AFTERNOON PAPSxCi
Saturday, July 19. 1941
m e s s Service
No. 26-63
The Bureau of Internal Revenue today Instituted another
Lt;Su case intended ultimately to prove in the courts that the
feaerax ‘rovernment lias the n g n t under the Constitution to tax
tne income from State ana municipal securities*
Action consisted in sending notices of deficiency to lw o
Dondhoxucrs of iuv iriborough m a g e Authority ™ho had not included
Interest from their bonds m
Vp p TOtif»nc,Ij*g
theii tax returns.
'3 l, step rqs caicen on March i4 , 1941, when
notices of deficiency were sent to seven bondholders ‘of the Port
of New York Authority who had not included interest from their
bonds in their tax returns filed on March 15. 1938,
Six of tne seven bondholders subsequently paid the deficiency
in tax claimedlby the Ire a surV
y Department,
The1 seventh, Alexanaer
J. Shamberg, a Commission•fy iP OJJLŸ the Port of New York Authoritv,
tr y
■p*ifed his appeal on June O
& X
1Got±i. ■-a t nan three weeks the Bureau
OXr* Internal Revenue filed Xàj
V— answer, which maintained its posaf
tion that public corporat ions lrke the Port of New York Authority
V
are neither States, terri tor ie O,
t? HOi.
V! v> -JOJ.i11f X C pi i subdivisions”,
and that, tnereiore, the interest jfrojs their securities is sub
ject to the federal income tax under the Internal revenue Code,
C m
President Roosevelt thereupon recommended'on January 19,
1939, that Congress correct the situation.
The silence of Congress
since then, in the opinion of Treasury officials, has left the
Department, no alternative.
In his message, the President said:
''Unless the Congress passes some legislation
dealing with this situation prior to March 15th, I
f am Informed ’ey the Secretary'of the Treasury that he
*will be obliged to collect back taxes for at least
3 years upon the employes of many State.,ag-ncies and
upon the security•holders of many State corporate
instrumentalities, who mistakenly but in good faith
believed they were tax exempt* The assessment and
collection of these taxes will doubtlessly in many
cases produce great hardship.
"Accordingly, I recommend legislation to correct
•the existing inequitable situation, and at the same
time to make private income from all Government
salaries hereafter earned and from, all Government
securities hereafter issued subject to the general
income-tax laws of the Nation and of the several
States. It is difficult for almost all citizens
to understand why a constitutional provision -per
mitting taxes on Tincome from whatever source derived!
does not mean ’from whatever source derived.’"
Congress partially followed this recommendation by abating
back taxes on public employes tnrough the enactment of the Public
Salary Tax Act of 1939,.but has taken no action to relieve from
ta.x liability the holders of outstanding securities ox rublic
corporations.
Should the Supreme Court now uphold the Treasury’s position,
the Treasury intends to rene~"r its recommendation to Congress
(1 ) to abate the payment oi back t*xes, (2 ) to exempt outstanding
- 4 issues from taxation, and (3) to begin the taxation of future
issues.
Assuming that Congress carries out these recommendations,
no holders of Triborough Bridge Authority and similar obliga
tions have any reason to fear the imposition of taxes on oblige
tions now outstanding, Treasury attorneys said.
- 0 O0 -
The Bureau of Customs announced today that preliminary reports
from the collectors of customs show that the tariff rate quota for
the third quarter of the calendar year 194-1 on imports of cattle
weighing 700 pounds or more each, other than dairy cows, the produce
of countries other than Canada, was filled during the period July 1
to July 5, 1941, inclusive*
The Presidents proclamation dated November 30, 1940, provides
that not more than 3,280 head of this class of cattle the produce of
countries other than Canada may be entered, or withdrawn from ware
house, for consumption in any calendar quarter year during 1941 at
the reduced rate of duty provided in the trade agreement with Canada*
TREASURY DEPARTI
Washington
Press Service
No* 26-64
FOR TIA,EDIATE RELEASE,
ronela y , J u l y 21, ; 19-
&§ LjSI eau of !
H I
i n
1 i.lC
col l e c t o r s
fron i th e
the
L/ i. à
1 X*
0 ..
qU;a r t ' ;r o
700
we i i p o in g
OI (3oun tr i e s
noiorids
j.
o h Ler
J u l ;| 1 to J u ì y
o
J5, i
The Pr e s i d e n t ’
tha' U
il0"ty mor e t.1 XL
i.
Oc
Sn
01 c o u n tr R e s o t h e r
war ehouse
1941 a
? -1-'or
con s
tiie reduced rate of duty provided in the trade agre,erne
with Canada
-OoO-
FOR IkLùDlÂÏE E l LEÂSE,
Eonday,
Julyu. 21,
1941*
s u i* .
4, Z...
— -------------
-------------- -------- —
Press Service
No. 26-65
-----------------
karke t transactions in Government securities for Treasury
investment accounts in June, 1941, resulted in net purchases
of $447,000 , Secretary korgenthau announced today.
-OoO-
rrvp'PA n r i T ' V
Tv ©"D ■
’ P H T “pttiti
iliiliiloUi'lX
id i l u i i . i
/ashin? ton
Service
hr ess
7T
wo.
Eo-bo
FOR BIADIATE RELEASE,
konday, July 21, 1941.
d
p
p
n
A general sixty-day extension of the period for
filing capital stock tax returns was announced today
by Secretary Lorgenthau.
The extension makes September 29 the final day
for filing such returns.
Without extension, the dead-
line would have been July 31,
H r. f0 interest will not be chargeable
The treasury said 4U- "Bol
on unpaid capital s tock taxes until a fter September 29,
whereas ordinarily interest would be charged on such
taxes unpaid after July 31.
Treasui>y offic ials explained that the extension
[jlLClf0 exists as ;
was granted because of the uncertainty fU«
consequence of the fact that the Congre ss is presently
considering changes in the revenue laws
Un til the
changes under consideration are definitely determined, it
is difficult for corporations to calculate the valuations
that must be declared for capital stock tax purposes.
- 2 The extension was prompted also by the fact that
the Ways and Means Committee’s recommendation to
increase the capital stock tax from $ 1.10 to $1.25
per $ 1,000 is intended to apply to the taxable year
recently concluded, for which returns would have been
due July 31.
Any corporation which lias already filed its return,
under the assumption that no general extension of time
would be granted, has the privilege under the law and
regulations of amending tne valuation declared in such
return by filing an amended return, provided such
amended return is received by the Collector of Internal
Revenue on or before September 29, 1941.
- - 0 O0 - -
TREASUHT d e p a e t w e n t
Washington
POH HELEASE, ÌIOBBIHG HSSSPAPSHS,
Mafer.i,,
7/ava
_____
press Service
Ko*
The Seeretary of the Treasury announced laet evening that the
tender» fer $100,000,000, or thereaboete, of 9X-day Treasiuy bill»,
to be dated Joly 23 end to nature October 22, 1941, which mire offerrod on Jttly 16, nere opened et the Federal Reserve Bank» cm July ai.
The details of thie lesti» ere es follone:
Total applied for - $292,756,000
total aecepted
- 100,127,000
Range of aeeepted bidet (Excepting two tendere aggregating $250,000)
High — 99*962 Equivalent rate approximtely 0*071
Um - 99*974
*
»
»
0*103
Average
Price - 99*975
»
«
«
0*096
11
(61 percent of the aaoiant bid for et the low priee was aecepted)
TREASURY d e p a r t m e n t
m ;hington
FOR RELEASE, HORNING- N
Tuesday, July 22, 1941
772I75I
----- —
>1
A\±
PXhj'DO
IUO«
Press Service
No. 26-67
The Secretary of the Treasury announced last evening the
tenders for $100,000,000, or thereabouts, of 91-day'Treasury bills,
to be dated July 22 and to mature October 22, 1941, which were offerred on July 18, irere opened,at the Federal Reserve Banks on
July 21.
The details of this issue are as follows:
f -Total applied for
-I_ ’’i
Total accepted
- $2923758
rtn'
100,127,000
Range of accepted bids: (Excepting two tenders aggregating
$250,000)
High - 99.982 Equivalent rate approximately 0.071 percent
Low - 99.974
"
"
"
0.103 J ”
Average
Price- 99.975
"
,!
tf
0.098
(81 percent of the amount bid for at the low price was accepted)
-OoO-
/
VIRGINIA (continued)
PENNSYLVANIA (continued)
Clyde C. Coffindaffer>
Paul Alan Lutz,
19 Bell Avenue,
Crafton
Naval Operating Base,.
Norfork
Herbert J. Lynch,
564. Pine Street,
Meadville
Harry N. Jones, II
2600 West Avenue. ’
;
Newport News
Richard S. Strickler.
I 53 O Second Avenue
Elmwood, York,
J
George John Kelley, Jr.,
117J 10th Street,
Richmond
James Henry VauleS|
2420 Greenhill Roan,
Lanedowne
Raymond R . McHenry, Jr.,
U. S. Marine Hospital,
Norfolk
Henry Redwood Wharton, m
Glenmary Road,
St. Davids >
J
Joseph Anthony Montagna,
1215 DeBree Avenue.
Norfolk
0
ggODE ISLAND
WASHINGTON
Arthur E. Briggs,
8 Francis Street,
Anthony
Richard P. Ariander,
I232 20th. Avenue, North,
Seattle
TEXAS
Robert F. Bierly .
Battery H 26Qth-£A
Fort Bliss, Texas.
William H. Brinkmeyer,
601 Lamont Avenue.
San Antonio, Texas.
Vance King Randle, Jr.,
226 E. St. Louis. Street,
Gonzales
David Harold Rasmusseni
Seadrift
Jeremiah Milton Stark
Robert 0. Bundey
4023 42nd Avenue, S.W.
Seattle
Garth D. Clizbe,
Co. *0» 103 Antitank Battalion
Fort Lewis
Curran D. Dempsey»
18 West 2.5-th Street ^
Spokane
UTAH
Joseph K, Everton 3
518 North Main St 3
Logan,-Utah
•
VIRGINIA
Carl Blanchett,
6O 6 ^outh Barton Street,
Arlington
X
NEW YORK
NEW YORK (continued)
Frank Barnettj
-45-33 Zion Street,
Little Neck, Long Island,
John D. McCann^
42-17 Judge Street,
Elmhurst, Long Island,
Joseph S. Berliner. :
2116 Norris Avenue,
New York
William Emmet Murphy.
170 Lake Avenue \
Tuckehoe
Ronald T. Bow
Alf red Owre, Jr.,
4 2 1 East-52nd Street,
New York
Congers
Peter S. Branson\
c/o Mr. Fred Vaughni
Edward Roger Ralph;
Coast Guard Receving Station
Ellis Island
Lake George
Bernard S, Brown»
1474 FlatbuSh Avenue,
Brooklyn
Paul Thomas Ifyan^
I 55 Lexington Avenue
Rochester
)
Robert Roy Schaefer .
John D. Callahan |
42 Townsend Avenuej
Newburgh
Port Richmond, S^atfn Island,
John M. Dempsey, Jr.,
135 75th Street,
Brooklyn
Wesley Matthew Thorsson
36 Sidney Place*
Brooklyn
58 GanseVoort^lvd^ '
;
Harley E. Dilcher
Chapel Street,
Elba
Louis R. Ford, Jr.,
1223 Avenue L
Brooklyn
William Jay Werther
210-29 29 Avenua
Bayside
George Henry Wittier, Jr.,
18 Amity Street,
Patchogue
PENNSYLVANIA
Herbert R, Harris,
45-65 172 Street,
Flushing
Lawrence M. Hecker,
91 Pilot Street, /
City Island
Archibald B. How,
40 Orient Avenue,
John A. .Ballint ine,
I32 O Carlisle Street,
Tarentum
Robert M. Speck,
Mahlon D. Clements.,
202 Taylor Avenue *
Easton
James H. Durfee,
II25 Morgan Avenue
Drexel Hill
/
M a SSá CHUSE TTS (conti mied)
George Alfred Warren,
105 Pilgrim Hoad,
North Weymouth
M ARYLAND
OKLAHOMA
James W. Carroll,
2721 Beryl Avenue^
Baltimore,
^
Kenneth Hugh lieidling #
3608 Hamilton Avenue«
Baltimore
'
Robert C. Phillips^
2733 Edmondson AvenueBait imore
'
Virgil Nourse Woolfork, Jr
3207 South Robinson Street
Oklahoma ^ity
Robert A. Schneblyy
Summit Avenue- 7
Hagerstown
MICHIGAN
Caleb R. Crandall, Jr.,
c/o Lt. Comdr. C. R. Crandall )
625 Federal Building,
Detroit
MISSOURI
Donald Henry hollert »
2203 E. Meyer^Blv3*>
Kansas City '***•«— Jr*
NEBRASKA
650
Frederick^. Kroll.
Arbor Street
Omaha
385 O
Don Richard Rodgers .
I409 Que Street *
LindoIn
v/
NEW HAMPSHIRE
C. -Bo ardman,
Clarence R. Easter^
254-2 Scott Avenue,
Independence
MONTANA
Roger J. Alke,
Montana School of Mines,
Butte
#1 >
NEW JERSEY
-----
Id
Robert J. Donovani
234 Newark'Avenue.
Bloomfield
*
Alfred W* Brass, Jr.,
Route A,
Helena
OHIO
Robert D. Johnson*
32 North Clinton Street,
East Orange
Jay H. Bramson,
2837 East Overlook hoad,
Cleveland heights
Raymond Grant Parks.
57 Howard Avenue.
Passaic
Philip S# Hofmann.
115 Charles Court,
Elyria
26 O
Robert B. Waddington /
E. Second Avenue,
J
Roselle
IDAHO
MASSACHUSETTS
George Francis Thometz, Jr.,
Route 1,
Twin Falls
ILLINOIS
Milan A. Broderickj
I 638 W. Garfield Blvd.,
Chicago
Gilbert N. Bell.
IB Howitt Road,
West Roxbury
John J. Fehrenbacher,
40b Hunter Avenue,
Joliet
Sumner E. Dolberj
23 Washington Ave,
Waltham
Curtis William Sphar.
206 West Washington,'
Benton
Arthur a . Fontai ne
508 Brock Avenue
New Bedford
John Bellyard Wade,
North Hall.
Carthagb
)
IOWA
John N. Austin \
432 North Booth
Dubuque
Robert J. Healy
27 Kensington Street
Feeding Hills
Bernise Clarence Lowman
509 N. 5th Street,
Clear Lake
KANSAS
Harold L. Davison.
622 Chestnut Street,
Leavenworth'
Neilus Andrew Speare,
1727 South Valley.
Kansas City
John a . Devlin)
7 Sherman Street
Matick
)
)
J
Robert F. Henderson
240 West Street,
Readi ng
John B# Lape, Jr.,
7 Dartmouth Stree
East Lynn
pt-lliam llerryman Page, Jr.,
1 Page Road,
Marblehead
Robert Donald Parkhurst,
6 Arbutus %ad,
Swam^Ccott
Lilbourn Amos Pharris, Jr.,
128 Forest Street,
Medford
LOUISIANA
And rev/ Wakefield Wofford,
Louisiana Polytechnic Institute,
Ruston
Ma i n e
Richard W. Goode.
3
Houlton,
Theodore Cha2d.es Rapalusy
103 Cottage Street
Easthampton
Stanley Theodore Siegel.
15 Short .Street,
Brookline
George Warren Wagner,
386 Riverway.
Boston
Gordon A. Tyne.
4 Springfield (St.W^
Gloucester, Mass.
/
CONNECTICUT
DISTRICT OF COLUMBIA (continued)
Homer G. Anderson^
48 Prospect Street,
New Britain
John B. Freeman.
1542 44th Street, N. W.,
Washington
Pa rke r G . Chapman^
Admirai Billard Academy,
New London
_
rJohn N, Dorsey,
57 Pacific Streetj
New London
William E. Fuller, Jr.,
1923 N Street, N. W.,
Washington
Walter R. Goldhammer,
Coast Guard Academy,
New London
Frederick W. Hermesj
Admiral Billard Academy,
New London
Andrew Mazzotta,
1 3 1 Brook Street*
Hartford
Albert J. McCullough,
Coast Guard Academy,
New London
Edward Duncan Middleton, Jr.,
858 Ocean Avenue,
New Londo'n
James Edward Murphy,
25 Edgerton Street^
Manchester
William Francis Powell, III,
20 Woodmere Road,
West Hartford
Revel Floyd Stratton.
Collinsville
DISTRICT OF COLUMBIA
Dimitiy George Leslie
1613 30th Street, N.
Washington
Richard S. Lodge)
1510 Van Buren Street, N. W.
Washington
/
James E. Maher,
3718 Huntington Street, N.
Washington
V
y
Kendall Crenin McCallum^
3024 Wisconsin Avenue, N. W. ,
Washington
FLORIDA
Harold K. Goodbread,
1218 Ninth Avenue,*TBSKB&-~
St. Petersburg
ITilliam L. Martin.
2108 Marjorie Avenue
Tampa
)
Octavius Hopkins'.Smith, III
919 North 12th Avenue»
/
Pensacola
*
George Earnest Williams »
410 Iowa Street »
Bartow
/
GEORGIA
Richard L. Bailey Jr.,
5 13 O Seventh Street, N. W . ,
Washington
Harrison Ballard Smith,
118 ,St.- Louis Place, N. &.,
Atlanta
William H. Boswell*
425 D Street, S. W, ,
Washington
Selwyn Lee Willey^
2254 Beecher,Road,
Atlanta
Henry C. Grawford, Jr.,
1457 Park rtoad, N. W.,
Washington
Robson H. C. Wright,
112 E. Princeton Avenue,
College Park
ALASKA
CALIFQENIA (continued)
James À. Hodgman,
309 George Street,
Ketchikanj
James 0. Lyon,
4216 East Second Street,
Long Beach
David Anderson Webb,
S . Coast Guard Cutter h A I D A ,
jjmeau
James Thomas Maher.
'3IX D Street^
San Rafael
U„
ARIZONA
William Hamilton Wallace,
Arizona State Teachers College,
Tempe
Milton Lee McGregor,
2164 Oregon Street,
^Berkeley
Mobley Meadows Milam.
413i San Emidio,
Taft
J
CALIFORNIA
Conald B. Crews t
II36 Holt Avenuej
Los Angeles
_
^
Gustavus Simmons Miller, Jr.
735 N. California Street,
Stockton
Earl A. Parker, Jr.,
2013 West 74th Street »
Los Angeles
'
Marion G. Shrode, Jr.,
735 Geary Streetj
Paul Powers j?erez>
1211 Horn Avenue»
W« Hollywood
Gordon F. Hempton,
26 OI 3rd Avenue
Sacramenti
James L. Harrison,
930 Brazil Street,
Compton
Julian Johansen,
2231 64th Avenue,
Oakland
Kenneth Howard Langenbeck^
1306 South Van Ness Avenue»
Santa Ana
Elmer Maurice Lipseyj
443 S. Cochran j,
Los Angeles
Bill Llewellyn, Jr.,
Route 3 ,
Anaheim
San Francisco
Raymond B. Starbuck
834 N. Woods,
Fullertoh
Benjamin N. Ward, Jr.,
Marquita Avenue N
San Clemente
230
George Herbert Weller,
2710 W . Jeffersonf^Tva'
Los Angeles
Mark Allen Yorstonj
W. palmer Avenue
Comptop
3I5
COLORADO
Paul Reed Peak, Jr.,
982 South Emerson,
Denver
x
TREASURY,DEPARTMENT
Washington.
or
,___
HI
Press Service
No. X G
/ ? ¥ /
ral R. R. Waesche, Commandant of the United States
Coast Guard, today announced the names of one hundred and forty-four
new cadets who have
been selected for training at the Coast
jjp£
Guard Academy at New LondonJLco'nnT^
îiisc
|This class represents the top contestants, physicially and men
tally, among the large group of young men who took the -■aminnM'tmj
open competit^v^axaminations for admission to the Academy, They
come from
as follows:
States and Alaska and the District of Columbia
t.3
«etitive
TREASURY DEPARTMENT
Washington
Press Service
No, 26-68
Rear Admiral R. R. Waesche, Commandant of the United States
Coast Guard, today announced the names of one hundred and fortyfour new cadets who have been selected for training at the Coast
Guard Academy at New London, Connecticut.
This class represents the top contestants, physically and
mentally, among the large group of young men who took the open
competitive examinations for admission to the Academy.
They
come from 29 States and Alaska and the District of Columbia, as
follows:
ALASKA
CALIFORNIA (continued)
Jame s A . Ho dgman,
309 George Street
Ketchikan.
Gordon F. Hampton
2601 3rd Avenue,
Sacramento.
David Anderson Webb,
U. S. Coast Guard Cutter HA ID.
Juneau.
James L. Harrison
930 Brazil Street
Compton
ARIZOE
William Hamilton Wallace,
Arizona State Teachers College
Tempe.
CALIFORNIA
Julian Johansen,
2231 64th Avenue
Oakland.
Kenneth Howard Langenbeck,
1306 South Van Ness Avenue
Santa Ana.
Conald B. Crews,
1136 Holt Avenue,
Los Angeles.
Elmer Maurice Lipsey,
443 S. Cochran,
Los Angeles.
Paul Powers Perez
1211 Horn Avenue,
W. Hollywood.
Bill Llewellyn, Jr.,
Route 3,
Anaheim.
CALIFORNIA (continued)
James 0. Lyon,
4216 East Second Street,
Long Beach.
James Thomas Maher,
311 D Street,
San Rafael.
Milton Lee McGregor,
2164 Oregon Street,
Berkeley.
Mobley Meadows Milam,
4131 San Emidio,
Taft.
Gustavus Simmons Miller, Jr.,
735 N. California Street,
Stockton.
Earl A. Parker, Jr.,
2013 lest 74th Street,
Los Angeles.
Marion G. Shrode, Jr.,
735 Geary Street,
San Francisco.
Raymond B. Starbuck,
834 N. Woods,
Fullerton.
Benjamin N. Ward, Jr.,
230 Mar qui ta Avenue,
San Clemente.
George Herbert Weller,
2710 W. Jefferson Boulevard,
Los Angeles.
Mark Allen Yorston,
315 W, Palmer Avenue,
Compton.
COLORADO
Paul Reed Peak, Jr.,
982 South Emerson,
Denver.
CONNECTICUT
Homer G. Anderson,
48 Prospect Street,
New Britain.
Parker 0. Chapman,
Admirai Billard Academy,
New London.
John N. Dorsey,
57 Pacific Street,
New London.
Waiter R. Goldhammer,
Coast Guard Academy,
New London.
Frederick W. Hermes,
Admiral Billard Academy,
New London.
And r ew Maz zo 11 a ,
131 Brook Street,
Hartford.
Albert J. McCullough,
Coast Guard Academy,
New London.
Edward Duncan Middleton, Jr.
858 Ocean Avenue,
New London.
James Edward Murphy,
25 Edgerton Street,
Manchester.
Q
O
CONNECTICUT (continued)
FLORIDA
William Francis Powell, III,
20 Woodnere Road,
West Hartford.
Harold K. Goodbread,
1218 Ninth Avenue,
N. St. Petersburg.
Revel Floyd-i Stratton,
William L. Martin,
2108 Marjorie Avenue,
Tampa.
DISTRICT OF COLUMBIA
Richard L. Bailey, Jr.,
5130 Seventh Street, N. W.,
Washington.
William H. Boswell,
425 D Street, S. 1.,
Washington.
Octavius Hopkins Smith, III,
919 North 12th Avenue,
Pensacola.
George Earnest Williams,
410 Iowa Street,
Bartow.
GEORGIA
Henry C. Crawford, Jr.,
1457 Park Road, N. W . ,
Washington.
John B. Freeman,
1542 44th Street, N. W.,
Washington.
William E-. Fuller, Jr.,
1923 N Street, N. W . ,
Washington.
Dimitry George Leslie,
1613 30th Street, N* W . ,
Washington.
Richard S. Lodge,
1510 Van Buren Street, N. W .,
Washington.
o
James E. Maher,
3718 Huntington Street, N. W .,
Washington.
Kendall Crenin McCallum,
3024 Wisconsin Avenue, N. W.,
Washington.
Harrison Ballard Smith,
118 St. Louis Place, N. E.,
Atlanta.
Selwyn Lee Willey*
2254 Beecher Road,
Atlanta.
Robson H. C. Wright,
112 E. Princeton Avenue,
College Park.
IDAHO
George Francis Thometz, Jr.,
Route 1,
Twin Falls.
ILLINOI o
Milan A. Broderick,
1638 W. Garfield Boulevard,
Chi cago.
John J. Fehrenbacher,
408 Hunter Avenue,
Joliet,
Curtis William Sphar,
206 West Washington,
Benton.
John Bellyard Wade,
North Hall,
Carthage.
ISAIKE
Richard W. Goode,
Route 3,
Iloulton.
MASSACHUSETTS
Gilbert N. Bell,
18 Howitt Road,
West Roxbury.
John A. Devlin,
7 Sherman Street,
Matick.
Sumner E. Dolber,
23 Washington Avenue,
Waltham.
John N. Austin,
432 North Booth,
Dubuque.
Arthur A. Fontaine,
508 Brock Avenue,
New Bedford.
Bernise Clarence Lowman,
509 N. 5th Street,
Clear Lake,
Robert J. Healy,
27 Kensington Street,
Feeding Hills.
Harold L. Davison,
622 Chestnut Street,
Leavenworth.
Neilus Andrew Speare,
1727 South Valley,
Kansas City.
LOUISIANA
Andrew Wakefield Wofford,
Louisiana Polytechnic Institute,
Ruston.
Robert F. Henderson,
240 West Street,
Reading.
John B. Lape, Jr.,
7 Dartmouth Street,
East Lynn,
William Merryman Page
1 Page Road,
Marblehead.
Robert Donald Parkhur
6 Arbutus Road,
Swamp scott.
5
m S S A C m S E T T S (continued)
Lilbourn Amos Pharris, Jr.,
128 Forest Street,
Medford.
Theodore Charles Rapalus,
103 Cottage Street,
Easthampton.
Stanley Theodore Siegel,
15 Short Street,
Brookline.
George Warren Wagner,
386 Kiverway,
Boston.
MICHIGAN
Caleb R. Crandall, Jr.,
c/o Lt. Comdr. C. R . -Crandall,
625 Federal Building,
Detroit.
MISSOURI
Clarence R. Easter,
2542 Scott Avenue,
Independence.
Donald Henry Roller!,
2203 E. Meyer Boulevard,
Kansas City.
MONTANA
Cordon A. Tyne,
4 Springfield Street,
Gloucester.
George Alfred Warren,
105 Pilgrim Road,
No r th Woymouth.
Roger J. Alke,
Montana School of Mines,
Butte.
Alfred W. Brass, Jr.,
Route A,
Helena.
MARYLAND
NEBRASKA
James W. Carroll,2721 Beryl Avenue,
Baltimore.
Kenneth Hugh Me idling,
3608 Hamilton Avenue,
Baltimore.
Robert C. Phillips,
2733 Edmondson Avenue,
Baltimore.
Robert A. Schnebly,
650 Summit Avenue,
Hagershown.
Frederick J. Kroll,
3850 Arbor Street,
Omaha.
Don Richard Rodgers,
1409 Quo Street,
Lincoln.
NEW HAMPSHIRE
Robert C. Boardman,
Route 1;
Milford.
6
NEW JERSEY
NEW YORK (continued)
Robert J. Donovan,
234 Newark Avenue,
Bloomfield.
John M. Dempsey, Jr.,
135 75th Street,
Brooklyn.
Robert D. Johnson,
32 North Clinton Street,
East Orange.
Harley E. Dilcher,
Chapel Street,
Elba.
Raymond Grant Parks,
57 Howard Avenue,
Passaic.
Louis R. Ford, Jr.,
1223 Avenue L,
Brooklyn,
Robert B. Waddington,
260 E. Second Avenue,
Roselle.
Herbert R. Harris,
45-65 172 Street,
Flushing.
NEW YORK
Frank Barnett,
45-33 Zion Street,
Little Neck, Long Island.
Joseph S. Berliner,
2116 Norris Avenue,
New York.
Ronald T. Bow,
Congers.
Peter S. Branson,
c/o Mr. Fred Vaughn,
Route 1,
Lake George.
Bernard S. Brown,
1474 Flatbush Avenue,
Brooklyn.
John D. Callahan,
42 Townsend Avenue,
Newburgh.
Lawrence M. Hecker,
91 Pilot Street,
City Island.
Archibald B. How,
40 Orient Avenue,
Douglaston,
John D. McCann,
42-17 Judge Street,
Elmhurst, Long Island.
William Emmet Murphy,
170 Lake Avenue,
Tuckehoe.
Alfred Owre, Jr.,
421 East 52nd Street,
New York.
Edward Roger Ralph,
Coast Guard Receiving Station,
Ellis Island.
Paul Thomas Ryan,
155 Lexington Avenue,
Rochester.
- 7 NSW YORK (continued)
PEMSYLVANIA
Robert Roy Schaefer,
58 Gansevoort Boulevard,
Port Richmond, Staten Island.
John A. Ballintine,
1320 Carlisle Street,
Tarentum.
Wesley Matthew Thorsson,
36 Sidney Place,
Brooklyn.
Mahlon D. Clements, Jr.,
202 Taylor Avenue,
Easton.
William Jay Wert her,
210-29 29 Avenue,
Bays!do.
James It. Burfee,
1125 Morgan'Avenue,
Drexel Hill.
George Henry Wittier, Jr.,
18 Ami tv
U Street,7
Patchogue.
Paul Alan Lutz,
19 Bell Avenue,
Crafton.
OHIO
Jay H. Bramson,
2837 East Overlook Road,
Cleveland Heights.
Philip S. Hofmann,
115 Charles Court,
Elyria.
OKLAHOMA
Worley'Berry Lynn,
Madill.
Virgil Nourse Woolfork, Jr.,
3207 South Robinson Street,
Oklahoma City.
v
9
Herbert J. Lynch,
564 Pine Street,
Meadvilie.
Richard S. Strickler,
1530 Second Ayenue,
Elmwood, York.
James Henry Vaules,
2420 Greenhill Road,
Lanedowne.
Henry Redwood Wharton, III,
Glenmary Road,
St. Davids.
Robert M. Speck,
249 N. 23rd Street,
C amp Hi 1 1 .
-
8
-
RHODE ISLAND
VIRGINIA
Arthur E. Briggs,
8 Francis Street,
Anthony.
Carl Blanchett,
606 South Barton Street,
Arlington.
TEXAS
Robert F. Bi erly,
Battery H 260th C. A.,
Fort Bliss, .
William H. Brinkmeyer,
601 Lamont Avenue,
San Antonio.
Vance King Randle, Jr.,
226 E. St. Louis Street,
Gonzales.
David Harold Rasmussen,
Seadrift.
Jeremiah Milton Stark,
Denton.
UTAH
Joseuh K. Everton,
518 North Main Street,
Logan. 'A:-; .
Clyde C. Coffindaffer,
Naval Operating Base,
Norfolk.
Harry N. Jones, II/
2600 West Avenue,
Newport News.
George John Kelley, Jr.,
1171 10th Street,
Richmond.
Raymond R. McHenry, Jr.,
U. S. Marine Hospital,
Norfolk.
Joseph Anthony Montagna,
1215 DeBree Avenue,
Norfolk.
WASHINGTON
Richard P. Arlander,
1232 20th Avenue, North,
Seattle.
Robert 0. Bunce,
4023 42nd Avenue, S. W.,
Seattle,
Garth D. Clizbe,
Co. "C" 103 Antitank Battalion,
Fort Lewis.
Curran D. Dempsey,
18 West 25th Street,
Snokane.
Mrs. Ross reported that the*Mints were required to work
r vi? /
A
;
twenty-four hour^k seven days a week in order to keep up with the
demand.
She attributed the unusually high demand for coins to the
sharp expansion in general business activity arising mainly from the
*
ellie Tayloe RojiC, Director
the Mint./&isclosed today
/
ew production jrecord was e
*?&?**■
ÿÀs Ær*
al year 194]
e$ by/the Mints during the
Len the, totajf of coins »truck was more than twice
as great as anjr previous yc
A totajrof 1,770,021,507 coins was
struck off/€y the thre^/wlints during this period,} The nearest; ap-
jF
proach^o this pro^jifbtion was j?03,785,830 in the fiscal^ÿear 1940.
COIN PRODUCTION
1941
mestic Coj&age
oinage f
Poreig^/bountries
Total
255,566,260
48,187
303,75^-60
1,599,3^007
35,695*000
803,785,830
>,672,500
*f770,021,507
The value of the 1#L1 domestic output jafis $74,987,420.0J*»
for ^40, $39,994,684.0^fand for 1939, $15^538,378.14.
Th§^<^roducti?»i
each denominatiop^exceeded that of #asiy previous y&ar^in the hiltory
ljy,. Uf '"'6ho
Production during the past three fiscal years by denominations
and pieces was:
1939
Halves .........
3,620,037
Quarters .......
16,865,748
Dimes ..........
50,026,021
Nickels ........
66,469,400
Cents---*....... 118,585,054
1940
1941
13,677,280
40,965,907
97,275,543
175,632,300
440,539,800
23,182,094
77,807,861
181,685,402
315,228,278
1,001,445,372
I Expressed in terns of weight, the coins manufactured during
the fiscal year 1941 was 7,063 tons, of which 536 tons were for foreign
countries.
It would have required 2,355 three-ton trucks to have
hauled the coins from the Mint
/'U-,
/
Production of the United States Mint reached a n M R all-
IS
L»IS) MTIf1
time record during the fiscal year ended June 3 0 with a total of
1
#7 7 0 #0 2 1 , 5 0 7
coins struck off in the twelve-month period, Nellie
Tayloe Ross,Director of the Mint, reported today* The previous high
was noted in the 1 9 ^ 0 fiscal year when S03#7&5#33° coins were
3,11)11
produced*
is
^ T h e value of the 1 9 ^ 1 domestic output
»ft1
$7^ #9^7 #^20*07
f IlCSS;
as compared with $ 3 9 #9 9 ^, 6 6 ^* 0 5 : In the 19^0 fiscal year and
$15#53S#37S.l1* for the 1939 fiscal year.
| R S 23'
j In numbers coin production for the three past fiscal yea:
T
Vmh'—"~
was recorded as follows:
1939
19^0
191*-!
ItIWiHR
VÜUjlilu
Irani
p i c et
Mini
'buCo'wi
TREASURY DEPARTMENT
m s hingt on
FOR RELEA.SE, MORNING- NEWSPAPERS,
Friday, July 25, 1941.
7723741--- ----- —
Press Service
No. 26-69
Production of the United States Mint reached an all-time
record duringc.1 the fiscal year ended June 30 with a total of
o
1,770,021,507 coins struck off in the twelve-month period, Nellie
Tayloe Ross, Director of the Mint, reported today.
high wàs noted in the
nol1
The previous
year when 803,785,830 coins were
produced.
The value of the 1941 domestic output is $74,987,420.07
as compared with $39,994,684.05 in the 1940 fiscal year and
$15,538,373.14 for the 1939 fiscal year.
In numbers coin production for the three past fiscal years
was recorded as follows:
1940
1941
Domestic coinage
255,566,260
768,090,830
1,599,349,007
Coinage for
Foreign Countries 48,187,200
35,695,000
170,672,500
nQü ,/o
ryrmO a aa 'ry,
üOU
803,785,830
1,770,021,507
Total
Production during the past three fiscal years by
denominations and pieces was:
1940
1941
13/677,280
40,965,907
97,275,543
175,632,300
440,539,800
23,132,094
77,807,861
181,685,402
315,228,278
1, 001,445,372
1939
Halves......... . 3,620,037
. 16^865^ 748
. 50,026,021
Nickels........ . 66,469,400
C ents.......... .118,585,054
expressed in terms of wei.ght, the coins nianufactured
during the fiscal year 1941 was 7,053 tons, of which 536 tons were
for foreign countries.
It would have required 2,355 three-ton
trucks to have hauled the coins from the Lint*
Jars'. Ross reported that the three Lints were required to
work twenty-four hours daily seven days a week in order to keep up
with the demand.
She attributed the unusually high demand for coins
to the sharp expansion in general business activity arising mainly
from the development and progress of the National Defense program.
-oOo-
t T
the program
Machinery
been set up in the Procurement Division.
has
Two units have been created^
OKKJ6U
m
to record purchases made oy Federal agencies in which the major
m
&L u& I a.
¡f*— *
commodities are classified,
an analysis section where buying
techniques for specific commodities will be determined.
^ The Division’s Specification Section
will be
to augnent the work of the analysis section by revising speci
fications for commodities so as to effect their more efficient purchase.
J From the information obtained G w
it will be possible for the Division to estimate requirements
in terms of dollar volume and volume of specific commodities for an
advanced period.
The Division then will be able to determine what
commodities should be carried in stock in its warehouse; whether a
commodity should be handled as a term contract (one which runs for a
definite period) which would be made available to all Federal agencies
and under which indefinite quantities of a commodity would be
purchased; or whether a commodity should be grouped
a con
solidated purchase.
Ctoj
ighft consolidati^/of
be able
iap tl
ïnefits op"'lai
-quantity
dll saweTon trs
changes<
Mr. MackÆald the.
the duration
fill
te prelent emèrgen<
#
will
¡¡special value
/ *
V
n
t—C?~4^:
'Ci
J
The Procurement Division has launched a program to
place Federal purchasing of non-military items on a planned basis,
..
Director Clifton E. Mack announced today,
'TsfoJL
L
First step toward establi
program was taken more than a month ago after Congress provided funds
to establish units for gathering and analyzing data on Federal
purchasing.
At that time, Federal departments and agencies, and their
field offices, were requested to submit to the Division complete data
on their purchases.
The reports « p
m I
h)
be submitted monthly,
t
I On July 10, the first of these reports Wttm received
^
jjx?
by the Division and now av* undergoing analysis,
for the first time in history, comprehensive
data on Government non-defense purchases will be centralized,
^The information
will enable the Division
better to determine policies and methods for Federal purchasing
officers.
It should increase the efficiency of buying while*
effecting substantial economies in overall Government purchasing,
C In announcing the program, Mr, Mack said^jMIts long
range value lies in the fact that the Division will
he
able to estimate in advance the needs of the Government for % specific
perio
ihere^Br possible, the Government will place orders during
slack seasons
way
to take advantage of better prices.
In this
industry and the Government will benefit-industry because of
To
elimination of lags in production and no disrpption irregular
commercial trade.
It will * èêêê> enable purchasing officers to WKÊËk
orderJF properly
and will give fcMMI freedom of choice in detemining
the market in which to buy , u
cr*";
TREASURY DEPARTMENT
ua smn.fi:ton
FOR RELEASE, EARNING NEWSPAPERS.
Friday, July 25, 1941.
vw^r
--------
Pr5ess Service
No. 26-70
The rrocurement Division has launched a program to place
Federal purchasing of non-military items on a planned basis,
Dir e(d o r (ullf ton
Firsi
Q
O
j
rnor e than
C\
CX
tep
am was taken
mont'
ids to establish
units3 for gathering
ga ther
units
and analyzing data on Federal purchasing.
At
•j*Tiq g time,
time.» Federal
that
departments and agencies, and their field
F eden
offices, were requested to submit to the Division complete data
on their purchases.
The reports will be submitted monthly.
On July 10, the finst of these reports was received by
the Division and now ds
undergoing analysis.
Now, for the first time in history, comprehensive data on
Government non-defense purchases will be centralized.
The information will enable the Division better to determine
policies and methods for Federal purchasing officers.
115 should
increase the efficiency of buying while effecting substantial
economies in overall Government purchasing.
In announcing the program, Lr. Mack said:
’’Its long range
value lies in the fact that the Division will be able to estimate
in advance the needs of the Government for specific periods.
idlere possible, the Government will place orders during slack
-
2
-
seasons to take advantage of better prices.
In this way industry
and the Government will benefit— industry because of elimination
of lags in production ana no disruption to regular commercial
trade. .It will enable purchasing officers to regulate orders
properly and will give freedom of choice in determining the
market in which to buy.
Machinery to facilitate the program has been set up in the
Procurement Division.
Two units have been created; one to record
purenases made by Federal agencies in which the major commodities
are classified, the other an analysis section where buyinr
techniques for specific commodities will be determined.
The Division’s Specification Section will be used to augment
the work of the analysis section by revising; specifications for
commodities so as uo effect their more efficient "purchase.
From the information obtained it will be possible for the
Division to estimate requirements in terms of dollar volume and
volume of specific commodities lor an advanced period.
The
Division then will be able to determine what commodities should
be carried in stock in its warehouse; whether a commodity should
cC handled as a term contract vone which runs for a definite
period) which would be made available to all Federal agencies
and under which indefinite quantities of a commodity would be
purchased; or whether a commodity should be grouped with a
consolidated nurchase.
PRESS RK1KA3E
The Bureau of Customs announced today preliminary figures for imports of
coffee subject to quota limitations under the President’s proclamation of the
Inter-American Coffee Agreement on April 15, 1941.
The following tabulation lists the coffee quotas which have been filled,
and shows import figures for the quotas now under telegraphic control ad of
July 19, 1941.
Total imports under the other coffee quotas are shown as of
July 12, 1941.
Quota Period
Country of Production
s Revised ] /
: Quota (lbs)
s
:
Entered for Consumption
As of (Date)
:_____ Pounds_____
Quota Period - 12 months
from October 1, 1940s
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
Brazil
(Import quota filled)
16,138,333
71,950,208
56,484,233
423,632,012
26,897,267
1,250,722,887
tt
n
it
H
It
it
it
H
n
tt
tt
it
11
it
it
£1 Salvador
Honduras
Nicaragua
80,691,799
2,689,700
26,224,775
July 12, 1941
68,241,010
1,937,078
22,257,278
Cuba
Ecuador
Haiti
Peru
Mexico
10,758,933
20,173,016
36,983,708
3,362,191
63,880,975
July 19, 1941
8,383,972
19,469,437
36,696,002
3,037,588
60,387,143
Non-signatory countries:
All types of coffee
47,742,641
July 19, 1941
46,585,949 2/
2,645,520
July 19, 1941
1,488,828 2/
Quota Period - April 22 to
August 31, 1941, incls
Non-signatory countries:
Mocha coffee
it
tt
H
It
It
tt
j
I
i
1/ Quotas increased by Inter-American Coffee Board, as of June 1, 1941.
I
2/ Under the terms of an Executive order, effective June 14, I94 I, the increased \
import quota for non—signatory countries is subject to the allocation of a
mflYirmim of 20,000 bags for coffee of the Mocha type which may be entered for
consumption from April 21 to August 31, 1941, inclusive.
TREAS
DEPARTMENT
FOR IMMEDIATE RELEASE »
Wednesd
>mb»r 24, 1941.
Press Service
No. 26-71
imS55E- - - - ----
The Bureau of Customs announced today that the quota of 795,000
bushels for wheat (other than wheat unfit for human consumption), the
produce of Canada, which may be entered for consumption or withdrawn
from warehouse for consumption during the twelve months commencing
May 29, 1941, established by the Presidents Proclamation issued on
May 28, 1941, was exhausted during the week ended September 20.
oOo
(Prepared - Appeal's an^’,ProTe
control as of July 91, 1941.
Total imports under the other coffee
quotas are shown as of July lk, 1941.
Quota Period
: Revised l/
Country of Production : Quota (lbs)
:
:
Entered for (Consumption
As of (Date)
;
"Pounds
Quota Period - 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
Brazil
16,138,333
71,950,208
56,484,233
423,$gj|,0l2
26,897,267
1,250,722,887
(Import quota filled)
»»
«
H
tt
tt
tt
tt
tt
tt
tt
tt
tt
H
tt
tl
El Salvador
Honduras
Nicaragua
80,691,799
2,689,700
26,224,775
July 12, 1941
Cuba
July 19, 1941
Haiti
Peru
Mexico
10,758,933
20,173,016
36,983,708
3,362,191
63,880,975
Non-signatory countries :
All types of coffee
47,742,641
July 19, 1941
46,585,949 2/
Quota Period - April 22 to
August 31, 1941, incl:
Non-signatory countries:
Mocha coffee
2,645,520
July 19, 1941
1,488,828 2/
Ecuador’
tt
tt
tt
«
It
tt
68,241,010
1,937,078
22,257,278
8,383,972
19,469,437
36,696,002
5,057,588
60,387,143
T T Quotas increased by Inter-American Coffee Board, as of June 1, 1941.
Under the terms of an Executive order, effective June 14, 1941, the increased im
port quota for non-signatory countries is subject to the allocation of a maximum of
20,000 bags for coffee of the Mocha type which may be entered for consumption
from April 21 to August 31, 1941, inclusive.
-OoO-
- 2Reserve Banks and Branches, following which public announcement will "be made by 1
the Secretary of the Treasury of the amount and price range of accepted bids.
j
Those submitting tenders will be advised of the acceptance or rejection thereof,
The Secretary of the Treasury expressly reserves the right to accept or reject
any or all tenders, in whole or in part, a.nd his action in any such respect
shall be final.
Payment of accepted tenders at the prices offered must be made j
or completed at the Federal Reserve Bank in cash or other immediately available
funds on
July 30„ 1 9 4 1 ______________ ,
The income derived from Treasury bills, whether interest or gain from I
the sale or other disposition of the bills, shall not have any exemption, as
such, and loss from the sale or other disposition of Treasury bills shall not
have any special treatment, as such, under Federal tax Acts now or hereafter
enacted.
The bills shall be subject to estate, inheritance, gift, or other
excise taxes, whether Federal or state, but shall be exempt from all taxation
now or hereafter imposed on the principal or interest thereof by any State, or
any of the possessions of the United States, or by any local taxing authority. ;
For purposes of taxation the amount of discount at which Tree.sury bills are
originally sold by the United States shall be considered to be interest.
Treasury Department Circular No. 418, as amended, and this notice, pre
scribe the terms of the Treasury bills and govern the conditions of their issue,j
Copies of the circular may be obtained from any. Federal Reserve Bank or Branch, j
-d<5o-
i
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,,
Friday. July 25, 19A1_________ •
D
The Secretary of the treasury, hy this public notice, invites tenders
fo r $ 100,000,000
or thereabouts, o f
9 lirday Treasury b i l l s , to be issued
on a discount b a s is under com petitive b id d in g .
be dated
July 30, 1941_______ , and will mature
the
141
fli fi
The D ills o f t h is se rie s w ill
October 29, 1941__________ .
when the face amount will be payable without interest*
xhey will be issued til
bearer form only, and in denominations of $1,000, $5,000, $10,000, $100,000,
$500,000, and $1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and Branches up to the
closing hour, two o*clock p. m., Eastern Standard time, Monday, July 28, 1941 ...
Tenders will not be received at the Treasury Department, Washington.
Each tender
must be for an even multiple of $1,000, and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
Fractions
It is urged that tenders be made on the pointed forms and for
warded in the special envelopes which will be supplied by Federal Reserve Banks
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and
i Ellul
trust companies and from responsible and recognized dealers in investment securi
ties.
Tenders from others must be accompanied by payment of 10 percent of the
face amount of Treasury bills applied for, unless the tenders are accompanied ty
mw
an express guaranty of payment by an incorporated bank or trust company.
Blued
Immediately after the closing hour, tenders will be opened at the Bedei
ofto
U ' 7 2-
Y
TREASURY DEPARTMENT
FOR RELEASE, M O R N I N G PAPFRq
M d a y , J u l y 25, 1941 .
S>
The Secretary of the treasury, by this public notice, invites tenders
fnr $ 100.000,000
, or thereabouts, of
9 i ~day Treasury bills, to be issued
on a discount basis under competitive bidding.
The bills of this series will
and will mature
October 29, 1941-------- -)
July 3Q* 19A-1____
------when the face amount will be payable without interest. They will be issued ify
be dated
bearer form only, and in denominations of $1,000, $5,000, $10,000, $100,000,
$500,000, and $1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and Branches up tp.
closing hour, two o lclock p. m.f Eastern Standard time, Monday,
28, 194,
1,
Tenders will not be received at the Treasury Department, Washington.
Each tender
must be for an even multiple of $1,000, and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
Fractions
It is urged that tenders be made on the pointed forms and for
warded in the special envelopes which will be supplied by Federal Reserve Banks j
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and :
trust companies and from responsible and recognized dealers in investment securi
ties.
Tenders from others must be accompanied by payment of 10 percent of the
face amount of Treasury bills applied for, unless the tenders are accompanied tyj
an express guaranty of payment by an incorporated bank or trust company.
|j
Immediately after the closing hour, tenders will be opened at the Bedel
£ 0 - 7 3 .
TREASURY DEPARTMENT
FOR RELEASE, MORNING PAPERS
Friday, July 25, 1941.
The Secretary of the Treasury, by this public notice,
invites tenders for $100,000,000, or thereabouts, of 91-day Treasury
bills, to be issued on a discount basis under competitive bidding.
The bills of this series will be dated July 30, 1941, and will mature
jOctober 29, 1941, when the face amount will be payable without
invitestei
¡interest.
They will be issued in bearer form only, and in denom
Lis, toteis
is seriesIj
inations of $1,000, $5,000, $10,000, $100,000, $500,000, and
m _ j[$1 ,000,000 (maturity value).
&
Tenders will be received at Federal Reserve Banks and
Ll lie issue!i
)0,$100,000, •Branches up to the closing hour, two o Tclock p. m., Eastern Stand
ard time, Monday, July 28, 1941.
Branches ti?■
Tenders will not be received at
the Treasury Department, Washington.
Each tender must be for an
even multiple of $1 ,000, and the price offered must be expressed on
#
jton, M'
the basis of 100, with not more than three decimals, e. g., 99.925.
ist teef;j
fractions may not be used.
It is urged that tenders be made on the
19.926, m
printed forms and forwarded in the special envelopes which vail be
idformsa®|
supplied by Federal Reserve Banks or Branches on application
] Reserved]
therefor.
Atedl-::1j
Tenders will be received without deposit from incorporated
3fests®^;| banks and trust companies and from responsible and recognized
percent I
dealers in investment securities.
Tenders from others must be
3gCCC# . accompanied by payment of 10 percent of the face amount of Treasury
bills applied for* unless the tenders are accompanied by an express
guaranty of payment oy an incorporated bank or trust company.
2
Immediately after the closing hour, tenders will be opened
Lt the Federal Reserve Bamcs and Branches, following which public
announcement will be made by the Secretary of the Treasury of the
amount and price range of accepted bids.
Those submitting tenders
will be advised of the acceptance or rejection thereof.
The
(Secretary of the Treasury expressly reserves the right to accept
lor reject any or all tenders, in whole or in part, and his action
in any such respect shall be final.
Payment of accepted tenders
¡at the prices offered must be made or completed at the Federal
Reserve Bank in cash or other immediately available funds on
July 30, 1941.'
The income derived from Treasury bills, whether interest
or gain from the sale or other disposition of the bills,- shall not
IhaVe any exemption, as such, and loss from the sale or other disposi~
tion of Treasury bills shall not have any special treatment, as such,
under Federal tax Acts now or hereafter enacted.
The bills shall be
'subject to estate, inheritance, gift, or other excise taxes, whether
[Federal or State, but shall be exempt from all taxation now or hereIfter imposed on the principal or interest thereof by any State, or
F y of the possessions of the United States, or by any local taxing
authority.
For purposes of taxation the amount of discount at which
treasury bills are originally sold by the United States shall be
Considered to be interest.
Q
KJ
Treasury Department Circular No, 418, as amended, and
this notice, prescribe the terms of the Treasury bills and govern
the conditions of their issue.
Copies of the circular may be
obtained from any Federal Reserve Bank or Branch"*
-OoO-
KÄME OF CORPORATION
AM) OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMISSION
BONUS
OTHER
COMPEN
SATION
M
TOTAL
VERMONT
CHICAGO STOCK YARDS COMPANY
Prince, Frederick H.
12/31/39
10 0 ,000.00
100.000.00
VIRGINIA
UNIVERSAL LEAF TOBACCO COMPANY, INC.
Edwards, K. R.
WEST VIRGINIA
STERLING PRODUCTS (INCORPORATED)
Diebold, A. H.
Weiss, W. E.
WEIRTON STEEL COMPANY
Weir, Ernest, T.
12/31/39
87 ,*+2 0 .65
87,1+20.65
100.00
100.00
1 2 5 ,10 0 .0 0
•
1 2 /3 1/3 9
1 2 5 ,000.00
1 2 5 ,000.00
125,100.00
1 2 /3 1/3 9
*+3.750.00
32,800.00
76,550.00
WISCONSIN
KIMBERLY-CLARK CORPORATION
Sensenbrenner, F. J.
12/31/39
75.735.00
a
75.735.00
NAME OF CORPORATION
AND OFFICERS OB
EMPLOYEES
CALENDAR OR
FISCAL YEAR
SALARY
COMMISSION
ENDED_____________________________
BONUS
OTHER
COMPENSAT ION
TOTAL
PENNSYLVANIA (Con.)
UNITED STATES STEEL COBPORATION
OF DELAWARE
Fairless, B. F.
JOHN Wa NAMAKER PHILADELPHIA
Shipley, C. R,
WESTINGHOUSE ELECTRIC & MANU
FACTURING COMPANY
Bucher, George H.
Robertson, A. W.
12/31/39
1 /3 1 /U0
1 2 /3 1/3 9
99 .999.96
99.999.96
60 ,000.00
33,808.21
70,110.60
2 5 ,9 11.0 0
34 ,5 *4-8.00
1 0 1 ,26 3.30
93.808.21
1 ,750.00
1 ,600.00
9 7 ,7 7 1.8 0
1 3 7 ,4 3 1.3 0
RHODE ISLAND
Ca RR-FULFLEX, INC.
Carr, Arthur H.
7/31/40
79 .189.60
79 .18 9 .6 0
TENNESSEE
COCA-COLA BOTTLING COMPANY
(THOMAS) INC.
Hunter, George T.
12/31/39
9 1 ,12 0 .0 5
9 1 .12 0 .0 5
TEXAS
ANDERSON, CLAYTON & COMPANY
Schmid, T. 0.
POLLOCK PAPER & BOX COMPANY
Jacobs,L. L.
WEST PRODUCTION COMPANY
West, J. M.
7/31/40
1 7 2 ,15 6 .5 0
12/31/39
1 2 /31/3 9
172,156.50
5 0 ,000.00
55.627.9i
105,627.91
7 5 ,000.00
6 ,250.00
81,250.00
NAME OP CORPORATION
AND OPPICERS OR
EMPLOYEES
Ca l e n d a r o r
FISCAL YEa R
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
PENNSYLVANIA (Con.)
M c Ke e s p o r t t i n p l a t e c o r p o r a t i o n
Parkins, G. V.
THE MIDVALE COMPANY
Frevert, Harry L.
G. C. MURPHY COMPANY
Mack, J. S.
NATIONAL STEEL CORPORATION
Pink, George R.
THE PENNSYLVANIA RAILROAD COMPANY
Clement, M. W.
THE PHILADELPHIA NATIONAL BANK
Wayne, Joseph Jr.
PHILADELPHIA STORAGE BATTERY COMPANY
Buckley, James T.
PITTSBURGH PLATE GLASS COMPANY
Brown, Clarence M.
Clause, Robert L.
Higgins, Harry B.
Wherrett, Harry S.
J. j. POCOCK, INC.
Pocock, J. J.
Ja c o b s i e g e l c o m p a n y
Siegel, Jacob
SMITH, KLINE & FRENCH LABORATORIES
Kline, C. Mahlon
SOUTHWEST SUPPLY COMPa NY
Bell, John A., Jr.
Ta s t y b a k i n g c o m p a n y
Baur, Phil J.
M orris, H. C.
THE UNITED GAS IMPROVEMENT COMPANY
Zimmerman, John E.
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
1/31/*+o
12/31/39
1 2 /3 1 / 3 9
1 2 /3 1 / 3 9
1 2 /3 1 / 3 9
75.833.U2
75.833. *+2
30.000. 00
*+5,000.00
30.000. 00
70. *+35.03
50.000.00
37,500.00
75.2*+0.00
100,*+35.03
500.00
100.000. 00
88,000.00
605.00 100,605.00
100, 008.00
23.000. 00
2*+o.oo
8,33Î+. 00 108, 3*+2.00
52,1+32.60
75,^32.60
93, 331.28
8*+, 698. *+9
8*+,70*+.*+l
115,80*+. 17
16,000.08
62,6*+*+. 33
90.000. 00
10,000.00
100,000.00
30.000. 00
52,200.00
82, 200.00
220.00
78,86*+. 1+1
77.062.00
77.O62.OO
86.576.61
86.576.61
86.576.61
86.576.61
90,000.00
90,000. 00
MAME OE CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
PENNSYLVANIA
ALUMINUM COMPANY OF AMERICA
12/31/39
Davis, Arthur V.
ARMSTRONG CORK COMPANY
12/31/39
Prentis, H. W.
BETHLEHEM STEEL CORPORATION
1 2 /3 1 / 3 9
Schwab, C. M.
BETHLEHEM STEEL COMPANY (DELAWARE)
12/31/39
Mackall, Paul
BETHLEHEM STEEL COMPANY (PENNSYLVANIA) 12/31/39
Bent, Q.
Buck, C. A.
Grace, E. G.
McMath, R. E.
Shlck, F. A.
Wakeman, S. W.
CARNEGIE-ILLINOIS STEEL CORPORATION
12/31/39
Perry,J. L.
COPPERWELD STEEL COMPANY
12/31/39
Bramer, S. E.
FELS & COMPANY
1 2 /3 1 / 3 9
Robson, A. Roy
GREAT LAKES STEEL CORPORATION
12/31/39
Fink, George R.
HERSHEY CHOCOLATE CORPORATION
12/31/39
Murrie, Wm. F. R.
HUBBARD AND COMPANY
1 2 /3 1 / 3 9
Hubbard, John W.
JONES & LAUGHLIN STEEL CORPORATION
1 2 /3 1 / 3 9
Lewis, H. E.
McCLOSKEY AND COMPANY (DELAWARE)
McCloskey, M. H. , J r .
1 2 /3 1 / 3 9
112.630.00
112,650.00
100.000.
00
100.000.00
135.000.
00
135,000.00
90.000. 00
90.000.
90.000. 00
00
180,000.00
60.000.
60.000.
00
00
80.000.
00
27.364.00
117. 364.00
27.364.00
27.364.00
117 .364.00
117. 364.00
271. 224.00
91.224.00
2^,332.OO
24.332.00
28.858.00
77.909.5s
8 4 .3 3 2 .0 0
84. 332.00
.
108 8 58 .00
I3 O.OO
7S,039.5s
25.000.
00
71,3^.53
9 6 .31+0 . 5 3
30.000.
00
1 0 1 ,6 8 4 .7 6
131, 684.76
50.000.
00
37.500.00
87.500.00
91.550.00
91.550.00
100,000.00
100.000.00
118,125.00
118,125.00
10A,000.00
1 0 4 .0 0 0 . 00
28
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPENSATION
TOTAL
OHIO (Con.)
THE KROGER GROCERY & BAKING COMPANY
Bracy, Harry W.
Morrill, Albert H.
THE F, a ND R. LAZARUS AND COMPANY
Lazarus, Fred, Jr.
Lazarus, Simon
■THE MIDLAND STEEL PRODUCTS COMPa NY
Kulas, E. J.
THE NATIONAL Ca SH REGISTER COMPANY
Deeds, Edward A.
OWENS-ILLINOIS GLASS COMPANY
Levis, Wm. E.
THE PLAIN DEALER PUBLISHING COMPa NY
McCarrens, John S.
THE PROCTER & GAMBLE COMPANY
Deupree, R. R.
French, H. G.
THE STANDARD OIL COMPANY (OHIO)
Holliday, V/. T.
THE YOUGHIOGHENY & OHIO COAL COMPANY
Brown, Robert Y.
12/31/39
1 /3 1 /iW
12/31/39
1 2 /31/3 9
12/31/39
2 5 .000.00
83.397-1*3
196.993-1)6
83.397-1*3
10 0 ,000.00
10 0 ,000.00
10 0 ,000.00
10 0 ,000.00
96 ,2 6 1.7 5
96 .2 6 1.7 5
171.993-1*6
7 5 ,000.00
2 5 ,000.00
10 0 ,000.00
1 2 5 ,000.08
2 5 ,000.00
15 0 ,000.08
60 ,000.00
1 1 1 ,276 .25
1 7 1 .276 .25
5/31/1)0
6 /30 /1+0
10 0 ,000.00
60 ,000.00
50 ,000.00
2 5 ,000.00
15 0 ,000.00
8 5 ,000.00
12/31/39
81,000.00
81,000.00
12/31/39
88,030.94
88 ,030 .91+
OKLAHOMA
E. H. MOORE, INC.
Moore, E. H.
PHILLIPS PETROLEUM COMPANY
Phillips, Frank
WARREN PETROLEUM CORPORATION
Warren, W. K.
12/31/39
12/31/39
6 /30 /i+O
10 0 ,000.00
10 0 ,000.00
10 0 ,000.00
10 0 ,000.00
81,800.00
81,800.00
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
21
TOTAL
I « YORK (Con.)
WARNER BEOS. CIRCUIT MANAGEMENT
CORPORATION
Bernhard, Joseph
WESTERN ELECTRIC COMPANY, INC.
Bloom, Edgar S.
THE WESTERN UNION TELEGRAPH COMPANY
White, R. B.
F. W. WOOLWORTH COMPANY
Deyo, C. W.
Weher, R. W*
8/31/UO
98 ,900.00
12/31/39
12/31/39
26 .5 OO.OO
1 2 5 .400.00
90 ,000.00
480.00
90,480.00
8 5 ,000.00
2 ,0 15 .0 0
8 7 ,0 15 .0 0
12/31/39
19 lt.6 s 7.0 7
8 2 ,18 7 .8 0
19 4 ,687.07
8 2 ,18 7.8 0
NORTH CAROLINA
R. J. REYNOLDS TOBACCO COMPANY
Williams, S. Clay
12/31/39
10 0 ,000.00
10 0 ,000.00
12 0 ,000.00
17 0 ,000.00
12 0 ,000.00
17 0 ,000.00
OHIO
CHAMPION SPa RK PLUG COMPANY
Stranahan, Frank D.
Stranahan, Robert A.
CLOPAY CORPORATION
Johnson, Sam J.
EATON MANUFACTURING COMPANY
Eaton, J. 0.
THE ELECTRIC AUTO-LITE COMPANY
Martin, Royce G.
THE GLIDDEN COMPANY
Joyce, Adrian D.
THE GOODYEAR TIRE & RUBBER COMPANY
L i t c h f i e l d . P . W.
12/31/39
12/31/39
1 5 ,000.00
77 .9 53.36
9 2 .9 53.36
1*5,000.00
5 3 ,500.00
98,500.00
12/31/39
12/31/39
1 0 /31/4 0
12/31/39
100,000.08
3 OO.OO
10 0 ,300.08
96 ,000.00
4o. 00
96,040.00
87.500.00
87.500.00
name of corporation
AND OFFICERS
____ EMPLOYEES
or
CALENDAR OR
FISCAL YEAR
SALARY
COMMISSION
BONUS
---M ™ ? __________________ _______________________
OTHER
COMPENSAT ION
TOTAL
HEW YORK (Con.)
WARNER BROS. PICTURES, INC.
Blanke, Henry
Boyer, Charles
Brent, George
Cagney,James
Curtiz, Michael
Davis, Bette
Dieterle, Wilhelm
Flynn, Errol
Forbstein, Leo
Foy, Bryan
Hellinger, Mark
Hopkins, Miriam
Keighley, William
Litvak, Anatole
Lord, Robert
Oberon, Merle
0*Brien, Pat
Raft, George
Rains, Claude
Robinson, Casey
Robinson, Edward G.
Steiner, Max
Wallis, H. B.
Warner, Albert
Warner, H. M.
Warner, J. L.
VITAGRAPH, INC.
Einfeld, S. C.
Sears, Gradwell L.
9 2 ,750.00
10 0 ,000.00
1 1 0 ,8 3 3 .3 3
368 ,3 3 3 .3 3
1 8 3 ,900.00
12 9 ,750.00
78 .500.00
2 1 3 .3 3 3 .3 3
79 .500.00
13 8 ,750.00
80 ,625.00
10 2 ,500.00
1 1 7 ,0 8 3.34
15 0 ,000.00
92 ,750.00
10 0 ,000.00
1 1 0 ,8 3 3 .3 3
368 ,3 3 3 .3 3
183,900.00
12 9 ,750.00
78 ,500.00
2 1 3 .3 3 3 .3 3
7 9 .500.00
13 8 ,750.00
80r625.00
140,450.00
85,000.00
16 4 ,666.67
13 8 ,000.00
9 5 .000.00
99 .8 3 3 .3 3
2 5 5 .000.00
79 .500.00
2 6 5 ,000.00
9 2 ,750.00
1 3 2 ,500.00
15 9 ,000.00
1 3 ,250.00
26 ,500.00
26 ,500.00
10 2 ,500.00
1 1 7 ,0 8 3.34
15 0 ,000.00
14 0 ,450.00
8 5 ,000.00
16 4 ,666.67
13 8 ,000.00
9 5 .000.00
99 .s3 3 .3 3
2 5 5 ,000.00
79 .500.00
265 ,000.00
10 6 ,000.00
15 9 ,000.00
18 5 ,500.00
8 5 ,650.00
8 5 ,650.00
1 3 ,250.00
1 3 ,250.00
98 ,900.00
98 ,900.00
8/31/40
NAME OP CORPORATION
AND OPPICERS OR
EMPLOYEES
CALENDAR OR
PISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
NEW YORK (Con.)
TWENTIETH CENTURY-POX PILM CORP.
Tugend, Harry
Wurtzel, Sol
Zanuck, Darryl P.
UNDERWOOD ELLIOTT PISHER COMPANY,
DELAWARE
Wagoner, P. D.
UNITED ARTISTS CORPORATION
Silverstone, Maurice
UNITED STATES RUBBER COMPANY
Adamson, Percy
Adamson, Percy (Trustee)
Coughlin, E. J.
Davis, P. B. Jr.
Humphreys, H. E. Jr.
Needham, T. J.
Roberts, Elmer
Smith, Herbert E.
Tompkins, L. D.
UNITED STATES STEEL CORPORATION
(NEW JERSEY)
Stettinius, E. R., Jr.
Taylor, Myron C.
Voorhees, E. M.
r . t . Va n d e r b i l t c o m p a n y , i n c .
Somerville, A. A.
Vanderbilt, R. T.
WALLERSTEIN COMPANY, INC.
G-raf, William
W a lle rste in , Leo
WARNER BROS. PICTURES, INC.
Bacon, Lloyd
76 ,500.00
178,500.00
2 5 5 .000.00
7 6 ,500.00
I7 S,500.00
2 5 5 .OOO.OO
1 2 /3 1/ 3 9
108,000.00
1 2 /3 1/ 3 9
U80.00
lU5 ,500.00
108,USO.00
1 U 5 .500.00
1 2 /3 1/ 3 9
9,000.00
3 6 ,000.00
1 5 0 ,000.00
3 6 ,000.00
3 6 ,000.00
3 6 ,000.00
U 8 .000.00
Us,000.00
180.00
220.00
220.00
10 6 ,2 1 1 . 7 2
9 7 .3 1 9 .5 5
1 1 8 .79 8 .75
1 5 0 ,220.00
9 5 .620.00
220 .00
220 .00
220 .00
200.00
1 1 8 ,838 .75
1 U 7 .36 2 .5 0
1 U7 .3 U2 .5 0
5 ,600.00
2 ,10 0 .0 0
5 ,600.00
1 0 5 .600.00
98 ,10 0 .0 0
1 0 5 .600.00
97.211.72
9 7 .3 i9 .5 5
82,618.75
5 9 .Uoo.oo
8 2 ,6 18 .7 5
8 2 ,6 18 .7 5
99 .14 2 .5 0
99 .14 2 .5 0
118.838.75
12/31/39
1 0 0 ,000.00
9 6 ,000.00
10 0 ,000.00
200,000.00
2 7 s.ug6 .ll
2 7 s,U8Ô. 1 1
200 ,000.00
12/31/39
g/31/ho
81,000.00
81,000.00
9U.000.00
9 }+,000.00
196.000.00
196,000.00
2U
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
HEW YORK (Con.)
TWENTIETH CENTURY-FOX FILM COHP.
Ameche, Don
Baxter, Warner
Brown, Harry Joe
Colbert, Claudette
Cummings, Irving
Day, Richard M.
Del Ruth, Roy
Dwan, Allan
Faye, Alice
Fonda, Henry
Ford,John
Goetz, William
Griffith, Raymond
Henie, Sonja
Johnson, Nunally
Jolson, A1
Kent, S. R.
King, Henry
Koenig, William
Lanfield, Sidney
Lang, Walter
Mac Gowan, Kenneth
Markey. Gene
Me Guire, Wm. Anthony
Power, Tyrone
Ratoff, Gregory
Schenck, Joseph M,
Scott, Randolph
Seiter, William
Ston e, John
Temple, S h ir le y Jan e
12/31/39
12S , 5S3.33
101,923.06
I27.5OO.OO
150, 079.50
137.70s.33
76,500.00
110.U90.9U
109,125.00
1U0.291.66
103.2U6.17
235,000.00
102,000.00
10U.625.00
2UU.166.67
25. 833.33
128,125.00
179.370.00
1 5 5 .8 3 3 .3 3
76,500.00
112,875.00
77.O83.3U
102,000.00
97. 875.00
96,708.33
151,250.00
109.375.00
1 1 3 .8 3 3 .3 3
80, 208.33
119,000.00
76,500.00
116,570.50
128, 583.33
101,923.06
127,500.00
150,079.50
137.708.33
76,500.00
110.U90.9U
109,125.00
1U0.291.66
103.2U6.17
235,000.00
102,000.00
io U,625.oo
5,000.00 2U9,166.67
85.833.33
128,125.00
179,370.00
155.833.33
76,500.00
112,875.00
77, 083. 3U
102,000.00
97,875.00
96,708.33
15,000.00 166,250.00
109,375.00
113.833.33
80, 208.33
119,000.00
76,500.00
116,570.50
M M E OP CORPORATION
AND OPPICERS OR
EMPLOYEES
CALENDAR OR
PISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
NEW YORK (Con.)
RKO RADIO PICTURES, INC.
Haight, George
Krasna, Norman
La Cava, Gregory
Laughton, Charles
Lombard, Carole
McCarey, Leo
Menjou, Adolphe
0 *Brien, George
Rogers, Ginger
Stevens, George
ROCKEFELLER CENTER, INC.
Robertson, Hugh S.
SOCONY-VACUUM OIL COMPANY, INC.
Brown, John A.
Corwin, Arthur P.
STANDARD BRANDS, INC.
Smith, Thomas L.
Wilshire, Joseph
STANDARD OIL COMPANY OP NEW JERSEY
Sadler, E. J.
STATES MARINE CORPORATION
Mercer, H. D.
STERN BROTHERS
Riordan, William 0.
THE TEXAS COMPANY (DEL. )
Klein, H. T.
Rieber, T.
Rodgers, W. S. S.
J. WALTER THOMPSON COMPANY
Re sor, Stan ley
90 ,500.00
8 2 ,500.00
I7 5 .OOO.OO
1 1 6 ,1 7 0 .15
90 ,500.00
8 2 ,500.00
211,111.08
I2 7 .5 OO.OO
7^,999-99
12 0 ,^00.00
2 19 ,500.02
13 9 .3 3 3 .3 ^
175,000.00
1 1 6 ,1 7 0 .15
211,111.08
12 7 ,500.00
7M99.99
12 0 ,^00.00
219,500.02
139.833*3^
80,000.00
80,000.00
12 0 ,000.00
7 5 ,10 0 .0 0
12 0 ,000.00
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
1 /3 1 /1«)
7 5 .000.00
10 0 ,000.00
600.00
500.00
7 5 ,600.00
10 0 ,500.00
90 ,000.00
90 ,000.00
10 5 ,000.00
10 5 ,000.00
5 0 ,000.00
12/31/39
75,100.00
2 5 .000.00
16 0 .0 0
7 5 .16 0 .0 0
9 1 ,000.00
1 2 3 ,000.00
1 2 3 ,000.00
9 1 ,000.00
1 2 3 ,000.00
1 2 3 ,000.00
81,000.00
81,000.00
12/31/39
name of corporation
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
____ 22
OTHER
SALARY
COMISSION
BONUS
COMPEN___________ __ __________________ SAT ION
TOTAL
NEW YORK (Con.)
PARAMOUNT PICTURES, INC.
MacMarray, Fred
Buggies, Charles Sherman
Haggles, Wesley
Sandrich, Mark
Stanwyck, Barbara
Sturges, Preston
Thompson, Harlan
Van Every, Dale
Wellman, William A.
Zukor, Adolph
PERIODICAL PUBLISHERS* SERVICE
BUREAU, INC.
1 2 /3 1 / 3 9
Ball, H. G.
Dymond, 0. L.
Lockard, C. A.
Ory, L. E.
PHELPS DODGE CORPORATION
1 2 /3 1 / 3 9
Cates.Louis S.
RADIO CORPORATION OF AMERICA
1 2 /3 1 / 3 9
Sarnoff, David
THE READER* S DIGEST ASSOCIATION, INC. 1 2 /3 1 / 3 9
Payne, Kenneth W.
REMINGTON RAND, INC.
3 /3 1 /to
Rand, J. H. Jr.
BKO RADIO PICTURES, INC.
1 2 /3 1 / 3 9
Aherene, Brian
Berman, Pandro S.
Cromwell, John
Dieterle, William
Grant, Cary
2^0,333.33
79,666.67
2 3 .3 3 3 .3 O
si,500.00
9 2 ,500.00
14 3 .000 .
8 3 ,16 6.6 6
7 2 ,000.00
148,354. 6s
104.000.
240 ,3 3 3 .3 3
7 9 .666.67
2 3 .3 3 3 .3 0
8 1 .500.00
9 2 .500.00
14 3 ,000.00
8 3 ,16 6.6 6
00
200.00
00
86,283.In
80 ,588.67
7 7 .6 7 7 .2 1
96 ,3 8 1.8 9
86,283.41
80 ,588.67
7 7 ,6 7 7 .2 1
96 ,3 2 1.8 9
100,000.00
100,000.00
100,000.00
240.00
3 6 ,000.00
6 3 ,500.00
24 ,999.96
5 .636.85
82,500.00
1 6 1 ,868.35
14 4 ,16 6.6 6
1 0 3 .3 3 3 .3 3
9 3 .750.00
78,000.00
148,354.68
104,200.00
100,240.00
99 .500.00
2 ,14 5 .0 0
9 2 ,7 2 1 .8 1
8 2 .500.00
1 6 1 ,868.35
14 4 ,16 6 .66
10 3 ,3 3 3 .3 3
9 3 .750.00
Ail OP CORPORATION
AND OPPICERS OR
EMPLOYEES
CALENDAR OR
PISCAL YEAR
SALARY
COMISSION
BONUS
__ m m _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ *.
OTHER
COMPEN-
TOTAL
sat Ion
NEW YORK (Con,)
NESTLE’S MILK PRODUCTS, INC,
12/31/39
Norton, D. P,
THE NEW JERSEY ZINC COMPANY
12/31/39
Hayes, J. E.
NSW YORK LIPE INSURANCE COMPANY
12/31/39
Buckner, T. A,
NEW YORK TELEPHONE COMPANY
12/31/39
Kilpatrick, J.L.
THE NEW YORK TRUST COMPANY
12/31/39
Buckner, Mortimer N,
Gates, Artemus L,
PARAMOUNT PICTURES, INC.
1 2 /3 1/ 3 9
Benny, Jack
Binyon, Claude Howard
Burns, Robert (Bob Burns)
Carroll, Madeline
Colman, Ronald
Cooper, Gary
Crosby, Harry L., Jr. (Bing Crosby)
Del Ruth, Roy
Pairbanks, Douglas, Jr.
Preeman, Y. Prank
Griffith, Edward H.
Hathaway, Henry
Hope, Bob
Hornblow, Arthur,Jr.
Hurley,HaroId H.
LeBaron, William
Leisen, James Mitchell
Lewin, Albert Parsons
Lloyd, Prank
50.000. 00
2 3 .744.20
33*744.20
75*000.00
3.O56.79
99.999.S4
99,999.84
26.333.33
90.000.
75.ooo.oo
125.000.
00
00
76.952.33
77*380.95
127.166.67
150.000. 00
179*000.00
250.000.
00
84.166.67
161,718.75
104.000.
100. 000. 00
128, 500.00
00
1.840.00
88 .17 3 .3 3
5 ,000.00
4 .700.00
9 5 .000.00
2 .500.00
1 2 7 .500.00
98,000.00
92,375.00
10 8 .500.00
79.700.00
76.958.33
77.380.95
44 ,747.04
8 .7 13 .5 5
1 2 7 ,16 6 .6 7
194,747.04
187.7 13 .55
2 5 0 .000 .
84 ,16 6 .6 7
00
1 6 1 ,7 1 8 .7 5
100.00
104.100.00
10 0 .000 .
12 8 .500.00
77*247.17
156,000.00
116.355.00
182,000.00
7 8 ,0 5 6 .79
77,847.17
1 5 6 .000 . 00
1 ,378.25
9 3.6 3
117,733.25
1 8 2 ,0 93.63
98.000. 00
92.375.00
108,500.00
00
NAME OP CORPORATION
AED OPPICERS OR
EMPLOYEES
CALSEDAR OR
PISCAL YEAR
ENDED
SALARY
COMMISSION
OTHER
COMPEN
SATION
BONUS
TOTAL
NEW YORK (Con,)
MANUFACTURERS TRUST COMPANY
Gibson, Harvey D.
MARCUS LOEW BOOKING AGENCY
Priedman, Leopold
Moskowitz, Charles C.
THE Ma THIESOH ALKALI WORKS (IEC.)
Allen, E. M.
MoCALL CORPORATION
Warner, Wm. B.
METROPOLITa N LIPE INSURANCE COMPANY
Lincoln, Leroy A.
MORGAN STANLEY & COMPANY, INC.
Stanley, Harold
PHILIP MORRIS & COMPANY, LTD. INC.
Chalkley, 0. H.
Lyon, A. E.
THE MUTUAL LIPE INSURANCE COMPANY
OP NEW YORK
Houston, D. P.
NATIONAL BISCUIT COMPANY
Tomlinson, R. E,
THE NATIONAL CITY BANK OP NEW YORK
Perkins, James H.
Rentschler, Gordon S.
NATIONAL DAIRY PRODUCTS CORPORATION
Mclnnerney, Thos. H.
NATIONAL DISTILLERS PRODUCTS
CORPORATION
Jones, Charles L.
Porter, Seton
NATIONAL THEATRES AMUSEMENT CO. , INC.
Skouras, Charles P .
Skouras, Spyros P,
12/31/39
8 /3 1 /1+0
12/31/39
12/31/39
12/31/39
8 /3 1 /1+0
3 /3 1 /U0
12/31/39
12/31/39
I3 5 .OOO.OO
l,9b^.50
136,96U.50
83,200.00
8 7 ,10 0 .0 0
1 6 ,900.00
83,200.00
10U.000.00
9 1 ,200.00
9 1 ,200.00
7 5 .000.00
38,022.50
370.^2
1 2 5 ,000.00
1 2 5 ,000.00
7 5 .000.00
2 5 .000 .
2 5 .000 .
113,392.92
l.SUO.OO
00
00
5 2 ,500.00
5 2 ,500.00
76 .8U0.00
77.500.00
7 7 .500.00
1 2 5 ,000.00
1 2 5 ,000.00
96 ,000 .0 0 -
5 OO.OO
96,500.00
1.21+0.00
12/31/39
1 2 /3 1/3 9
12/31/39
9 2 .1+99-8^
9 ^.999.92
3 .56 O.OO
93,739.81+
98.559-92
15 0 ,000.00
Uso. 00
150*U80.00
8 7 ,500,00
10 0 ,000.00
35.000.
0 5 .000 .
00
00
1 2 2 ,500.00
16 5 ,000.00
12/31/39
7 S.O O O .O O
1 5 0 ,0 0 0 .0 0
1 5 0 ,0 0 0 .0 0
1 5 0 ,0 0 0 .0 0
2 2 8 , OOO. OO
name op corporation
A N D OPPICERS OR
EMPLOYEES
CALENDAR OR
PISCAL YEAR
ENDED
____________________ ______ ____________ _____________
SALARY
COMMISSION
BONUS
__ _____________ __ __________
OTHER
COMPENSATION
19
TOTAL
NEW YORK (Con.)
HEARST MAGAZINES, INC.
Berlin, R. E.
HURON ATTRACTIONS, INC.
Anderson, Marian
INGERSOLL-R a ND COMPANY
Doubleday, George
INTERNATIONAL BUSINESS MACHINES
CORPORATION
Nichol, Frederick W.
Watson, Thomas J.
JOHNSON & HIGGINS
Coe, Geo. V.
Davey, W. N.
LaBoyteaux, W. H.
Lowe, H. W.
JOHNS-MANVILLE CORPORATION
Brown, Lewis H.
KENNECOTT COPPER CORPORATION
Birch, Stephen
Stannard, E. T.
KING FEATURES SYNDICATE, INC.
McManus, George
Ripley, R. L.
THE LANDER COMPANY, INC.
Oestreich, Charles H.
LENNEN A N D MITCHELL, INC.
Lennen, Philip W.
M. LOWENSTSIN & SONS, INC.
Veit, Howard
R. H. MACY & COMPANY, INC.
Marks, Edwin I ,
S tra u s, Percy S .
1 2 /31/3 9
1 2 /31/39
12/31/39
12/31/39
1 2 /31/3 9
1 2 /31/3 9
1 2 /31/3 9
1 2 /31/3 9
1 2 /3 1/3 9
1 2 /31/3 9
1 2 /31/3 9
^9. 999.92
51.8U7.17
101, 8U7.09
95.S l 6.39
95.816.39
78.000.00
78, 000.00
60.000. 00
100,000.00
25.000.00
87 ,1*25 .oU
S7 .U25 .0 U
1 3 3 .3 2 3 .18
S7 .U25 .0 U
68,061.62
9.000.00
75. 000. 00
100, 000.00
2,600.00
UU2.560.17
60.00
260.00
220.00
2U0.00
87.U85.0U
87 . 685. 0 U
133.5}+3.18
87.665.0U
1,350.00
78.U11.62
1U0.00
220.00
100,220.00
99.960.85
1U3.09s.U0
99.960.85
lU3.O98.UO
85.197.35
80 , 000.00
2 U. 999.96
1/31/U0
65,000.00
75.1U0.00
87.797.35
80, 000.00
99.999.9s
85 , 000.00
3^2,560.17
lU.AUi.UU
80 ,3 5 1 .3 1
IO5.351.27
280.00
7 9 .7 2 1.bb
1 0 0 .1 7 9 .9S
18 0 . OO
18
NAME OP CORPORATION
AND OPPICERS OR
EMPLOYEES
CALENDAR OR
~ — —
PISCAL YEAR
SALARY
COMMISSION
BONUS
ENDED_________________________________
OTHER
COMPENSAT ION
TOTAL
NEW YORK (Con.)
16 4 .987.52
0 0 0
0 0 0
• • •
0 0 0
0 0 0
0 0 0
Stetson, E. W.
H E A R S T E N T E R PRISES INCORPORATED
Brookes, John S. . Jr.
104,987.52
57*487.49
104,987.52
0 0 0
VO -rt- VO
GENERAL ELECTRIC COMPANY
12/31/39
Swope, Gerard
Wilson, Charles E.
Young, Ov/en D.
GENERAL POODS CORPORATION
12/31/39
Chester, Colby M.
Prancis, Clarence
Igleheart, Austin S.
Metcalf, Charles W.
Prescott, John S.
Young, Udell C.
GENERAL MOTORS ACCEPTANCE CORPORATION 12/31/39
Schumann, John J., Jr.
GIMBEL BROTHERS, INC.
1/31/ko
Gimbel, Bernard P.
W. R. GRACE & COMPANY
12/31/39
Garni, A.
Holloway, W. G.
Iglehart, D. S.
Roig, H. J.
THE GREAT a TLaNTIC & Pa CIPIC TEA COMPANY
(NEW JERSEY)
2/24/40
Adams, 0. C.
Brooks, C. A.
Byrnes, W. M.
Smith, R. B.
GUARa NTY TRUST COMPANY OP NEW YORK
12/31/39
Conway, W. P,
Potter, W. C.
84,000.00
69 ,959.96
5 5 ,8 33.30
49 ,862.80
4 5 ,000.00
3 9 .999.96
57.000.
57.000.00
48,000.00
4 3 .298.00
3 7 .500.00
3 7 .500.00
6 5 ,000.00
84,802.00
97,487.49
16 4 .987.52
00
141,000.00
12 6 .999.96
1 0 3 ,8 33.30
9 3 ,16 0 .8 0
8 2 ,500.00
7 7 .499.96
275.00
7 5 ,600.00
4 5 ,000.00
4 5 ,000.00
48,000.00
45,000.00
7 5 ,600.00
68 .400.00
5 3 .200.00
1 2 1 ,600.00
5 3 ,200.00
1 1 3 .400.00
98 .200.00
16 9 ,600.00
20.00
10 0 ,020.00
10 0 ,000.00
10 0 .060.00
10 0 .020.00
100,000.00
100,000.00
100,000.00
100,000.00
60.00
20.00
100,000.00
100,000.00
75*000.00
7 ,2 8 4 .9 1
6 ,13 4 .0 3
1 0 ,9 11.7 6
12/31/39
35,0 50 .0 0
15 0 ,077.00
98.200.00
10 7 ,2 8 4 .9 1
10 6 ,13 4 .0 3
85.911.76
3 5 ,0 5 0 .0 0
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
NEW YORK (Con.)
CONSOLIDATED OIL CORPORATION
12/31/39
Gallagher, H. R.
Sinclair, E. W.
Sinclair, H. F.
CORN EXCHANGE BANK TRUST COMPANY
12/31/39
Frew, Walter E.
Sherer, Dunham B.
THS CROWELL-COLL1ER PUBLISHING CO.
12/31/39
Beck, Thomas H.
CRUCIBLE STEEL COMPANY OF a MERICa
12/31/39
Hufnagel, F. B.
DAILY MIRROR, INC.
12/31/39
Kling, Kenneth
■THE DELAWARE, LACKAWANNA AND WESTERN
RAILROAD COMPANY
12/31/39
Davis, J . M.
THE DIAMOND MATCH COMPANY
12/31/39
Fairburn, W. A.
DONAHUE & COE, INC.
12/31/39
Churchill, E. J.
EASTMAN KODAK COMPANY
12/31/39
Lovejoy, Frank W.
ELECTROLUX CORPORATION
12/31/39
Groff, Chas. G.
ETHYL GASOLINE CORPORATION
12/31/39
Webb, Earle W.
THE FIRST NATIONAL BANK OF THE CITY
OF NEW YORK
12/31/39
Fraser, Leon
Welldon, Samuel A .
g en er al a n i l i n e & f il m corporation
12/31/39
Schmitz, D. A .
110 ,000.00
100,000.00
200,000.00
9 10 .0 0
9 10 .0 0
290.00
1 1 0 .9 10 .0 0
10 0 .9 10 .0 0
200 .290.00
75.000.00
75,000.00
740.00
980.00
7 5 ,740.00
7 5 .9s0.00
75.000.00
240.00
75.240.00
135.000.00
3 ,604.96
1 3 5 ,000.00
64,282.1+1
75.000.00
8 ,8 8 8 .3 1
76 .775.70
2 ,950.00
7 7 .950.00
100,000.00
100,000.00
129,400.00
150,000.00
1 1 ,647.60
1 6 1 ,647.60
100,000.00
80,000.00
2 .6 35.75
1 2 7 ,3 ^3 .2 3
75.000.00
75.000.00
800.00
1,000.00
76 ,000.00
7s.333.31
550.00
78,883*31
44,707.48
75,800.00
l6
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYERS
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
OTHER
COMPEN
SATION
BONUS
TOTAL
NEtf YORK (Con.)
4o,ooo.oo
40,000.00
•
12/31/39
0
0
12/31/39
•
1/31/1+0
0
0
12/31/39
s7.575.72
66,000.00
*+1 ,115 .0 0
ISO. 00
100,159.60
30 3 .3 2
75,303.32
75.764.15
764.15
175,000.00
6,180.00
7,580.00
12/31/39
181,180.00
10 7 ,580.00
76 ,500.00
102,000.00
0
m
0
0
12/31/39
iH C\J
75,000.00
100,000.00
COï«müRClAE IHV3STK3NT TRUST, IEC.
Dietz, A r t h u r 0 .
Ittleson, H e n r y
107.295.00
10 0 ,159 .6 0
100,000.00
12/31/39
78.360.00
111.574.00
111,573.98
75.000.00
75.000.00
COLUMBIA BROADCASTING SYSTEM, INC,
Klauber, Edward
Paley, William S.
80 .570.00
87,575.72
12/31/39
12/31/39
7 5 .26 O.OO
80,000.00
k 'i
75.000.00
75.000.00
0
0
0
0
LC\ 0
Johns, Wm. H.
BEST & COMPANY, INC.
Le Boutillier, Philip
CELANESE CORPORATION OF AMERICA
Dreyfus, Dr. Camille
Dreyfus, Dr. Henry
CENTRAL HANOVER BANK AND TRUST CO.
Gray, Wm. S., Jr.
CERRO DE PASCO COPPER CORPORATION
Clark, Edward H.
Kingsmill, Harold
THE CHASE NATIONAL BANK OF THE CITY
OF NEW YORK
Aldrich, Winthrop W.
Campbell, H. Donald
CHEMICAL BANK & TRUST COMPANY
Houston, Frank K.
Johnston, Percy H.
12/31/39
0
OSBORN,INC.
12/31/39
0
&
2 *10.00
75.020.00
tes
BATTEN, BARTON, BURSTINE
12/31/39
in
AMERICAN’ WATER WORKS AND ELECTRIC
COMPANY, INC.
Porter, H. Hobart
ASIATIC PETROLEUM CORPORATION
Wilkinson, H.
BANKERS TRUST COMPANY
Colt, 3. Sloan
Prosser, Seward
94,484.76
204,270.35
9 1.2 5 0 .0 0
10 0 .000 .00
1 1 O . OO
8 0 . OO
9 1,3 6 0 .0 0
100
.0 8 0 .00
NAME 0? CORPORATION
a n d officers or
EMPLOYEES
M
C mTii'|1’JT)A ri OR
FISCAL YEAR
ENDED
OTHER
Salary
commission
BONUS
f i Oi v f P V. N Sa TION
JERSEY (Con.)
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA
D*01ier, Franklin
THE SINGER MANUFACTURING COMPANY
Alexander, Sir Douglas, Baronet
UNITED STATES PIPE AND FOUNDRY CO.
Russell, N. F. S.
1 2 /3 1 / 3 9
100,000.00
100,000.00
1 2 /3 1 / 3 9
12/31/39
100,000.00
100,000.00
60,000.00
32,567.00
200,000.00
111+.1+0
92.6Sl.l4-O
NEW YORK
1 /31/Uo
1 /31/U0
12/31/39
1 2 5 ,000.00
1 2 5 .000.00
5 0 ,000.00
68 ,732.^0
180.00
1 1 8 ,9 12 .1+0
7 5 .000.00
1 5 .000.00
10 0 .0 0
90 ,10 0.00
1,800.00
1 .550.00
80 ,550.00
151.550.00
78 ,750,00
15 0 ,000.00
12/31/39
70,620.81+
12/31/39
12/31/39
11+1+.893.21
215,5ll+. 05
7 7 .250.00
7 7 .250.00
77.250.00
77.250.00
99 .999.96
206 ,250.00
2,200.00
3 ,300.00
10 2 ,199.96
209,550.00
1 2 /3 1 / 3 9
•
00 00 00 00 00
00000
•
*
180,179.75
300 ,299.58
18 0 ,17 9 .71+
t
180,179* 7^
•
N e ile y , Charles F.
R ig g io , Vincent
12/31/39
O O O Q O
O O O O O
OOOOO*
ir\cvi irvimr»
rH
ALLIED CHEMICAL & DYE CORPORATION
Atherton, H. F.
ALLIED STORES CORPORATION
Puckett, B. Earl
B. ALTMAN & COMPANY
Burke, John S.
AMERICAN CAN COMPANY
Baker, Herbert A.
Phelps, Henry W.
AMERICAN CYa N a MID COMPANY
Bell, W. B.
AMERICAN SMELTING AND REFINING CO.
Brownell, Francis H.
Guess, H. A.
AMERICAN TELEPHONE a ND TELEGRAPH CO.
Cooper, C. P.
Gifford, W. S.
THE AMERICAN TOBACCO COMPANY
Hahn, Paul M.
Hill, George W.
Hill, George W . , Jr.
180.179- 75
230.179.75
1+20,299.58
. 230 ,17 9 .71+
2 30 ,17 9 .71+
2 30 .179 .75
NAME OE CORPORATI Oli
AED OEFICERS OR
____ EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
l4
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
MISSOURI (Con.)
THE MAY DEPARTMENT STORES COMPANY
Dauby, N. L.
May, Morton J.
THE PULITZER PUBLISHING COMPACT
Pulitzer, Joseph
1/31/uo
1w.7us.32
100, 000.04
12/31/39
7M 99-60
125.00
U6.75U.27
1u6.7us.32
100,125.oU
75,000.00
19 6 ,753.87
100,000.00
100,000.00
200 ,000.00
40, 000.00
3 s ,000.00
75,000.00
75,000.00
115,000.00
113,000.00
NEW JERSEY
ATLAS CORPORATION
Odium, Eloyd B.
P. BALLANTINE & SONS
Badenhausen, Carl W.
Badenhausen, Otto a .
BSNGUS, INC.
Seltzer, Theodore
BESSEMER INVESTMENT COMPANY
Layman, David T.,Jr.
CAMPBELL SOUP COMPANY
Dorrance, Arthur C.
CONGOLBUM-NriIRN, INC.
Hawkes, Albert W.
HENRY L. DOHERTY & COMPANY, INC.
Doherty, Henry L.
Ha RMON COLOR WORKS, INC.
Chartrand, Victor J.
HOEEKANN-LAROCHE, INC.
Bobst, E. H.
INTERNATIONAL CIGAR MACHINERY CORP.
Patterson, R. L.
LEHN & FINK PRODUCTS CORPORATION
Plaut, Edward
12/31/39
3/31/Uo
12/31/39
12/31/39
7/31/U0
8 ,000.00
79 .19 2 .9 5
87,192.95
80,000.00
80,000.00
91,500.00
91,500.00
12/31/39
12/31/39
80,000.00
80,000.00
100,000.00
1 0 0 ,000.00
12/31/39
17,100.00
12/31/39
12/31/39
12/31/39
30,965.lU
2 8 .6 3 g . 35
77,000.00
77.000.00
147, 151.81
90 ,000.00
76.703.u9
147,151.81
180.00
90 ,18 0 .0 0
MAKE OP CORPORATION
AND OPPICERS OR
EMPLOYEES
Calendar or
PISC a L YEAR
ENDED
SALARY
COMMISSION
OTHER
BONUS
13
nOMPTilT-
Sa TION
MICHIGAN (Con.)
NATIONAL BANK OP DETROIT
12/31/39
McLucas, W. S.
NATIONAL ELECTRIC WELDING MACHINES co. 10/31/ito
Brueckner, Ju liu s R.
RINSHSD-MASON COMPANY
12 /31/39
E l l i s , Robert
SENIOR INVESTMENT CORPORATION
12/31/39
Pisher, Pred J .
UNIVERSAL CREDIT CORPORATION
1 2 /3 1 / 3 9
Kanzler, Ernest
YELLOW TRUCK & COACH MANUPa CTURING co. 12/31/39
Babcock, Irvin g B.
50,000.00
38,100.00
88,100.00
10!+, 163.03
104,163.03
11*1, 573.^9
141, 573.49
144, 000.00
i 44.ooo.oo
90,000.00
90,000.00
49*999.92
29, 511.46
75.000.00
35,000.00
60.00
79. 571. 38
MISSOURI
ANHEUSER-BUSCH, INC.
Busch, Adolphus
D'ARCY ADVERTISING COMPa NY
Lee, A. L.
J ames r . kearney corporation
Kearney, James R ., Sr.
LAWTON-BYRNE-BRUNER INSURANCE
AGENCY COMPANY
Lawton, Carl S.
LIGGETT & MYERS TOBACCO COMPANY
Andrews, J . W.
Carmichael, W. D.
C a rro ll, Ben
Pew, B. P.
Thurston, E. H.
Whitaker, G. W,
12 /31/39
1 2 /3 1 / 3 9
1 2 /3 1 / 3 9
134,102.00
110,000.00
134,102.00
75*000.00
20,717.20
95.717.20
12/31/39
12/31/39
132,267.18
132,267.1s
35.000.
25.000.
25.000.
25.000.
25.000.
25.000.
00
00
00
00
00
00
52.173.06
52.173.06
52.173.06
52.173.06
52.173.06
52.173.06
87.173.06
77.173.06
77*173.06
77.173.06
77.173.06
77.173.06
NAME OP CORPORATION
AND OPPICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
OTHER
COMPEN
SATION
BONUS
TOTAL
MICHIGAN (Con.)
GENERAL MOTORS CORPORATION
Howard, Graeme K.
Hunt, Ormond E.
K ettering, Charles P.
K lin g le r, Harry J .
Knudsen, William S.
Kroeger, Frederick C,
Kunkle, Bayard D.
McCuen, Charles L.
Mooney, James D.
Prenti s , Meyer L.
Sloan, A lfred P . , Jr*
Smith, John T.
Tanner, Floyd 0 .
Weatherald, Charles E*
Wilson, Charles E.
GENERAL MOTORS SALES CORPORATION
H o ller, William E*
THE J . L. HUDSON COMPANY
Webber, Richard H.
Webber, Oscar
Webber, James B.
HUDSON MOTOR CAR COMPANY
B a r it, A. E.
S. S. KRESGE COMPANY
T u ttle , C. B.
W illiam s, R. R.
METAL MOULDINGS CORPORATION
Chamberlin, C. P,
N A S H - KELVI NAT O R COR P O R A T I O N
Mason, George W.
1+5. 000,00
75.000,00
100,000.00
250.00
200.00
60 , 000.00
150, 000.00
30 . 000.
35 . 000.
60 . 000.
75 . 000.
35 . 000. 00
200,000.00
00
00
00
00
100, 000,00
36 . 000.
*+9 . 999.92
00
1+00.00
I+5O.OO
I+5O.OO
100,000.00
12/31/39
60 . 000.
150.00
350.00
00
l/31/to
52 , 166.67
26 . 0 53.33
26 . 033.33
12/31/39
12/31/39
12/31/39
9/30/ho
81.000.
2l+,000.00
1 2 5 . 00 0.00
1+8 , 069.00
107,637.50
58.315.00
5M27.00
101, 860.50
1+6,270.50
*+.359.25
9 . 032.50
11 . 503.75
4 , 250.75
16 . 773.75
3 . 993.00
4,864.25
3.753.75
8 , 661.50
3 . 859.50
108,073.50
1+6,924.50
69.705.50
125, 622.50
9 , 1+84.50
3.7^2.50
5 .SO3.50
10 , 611.50
138,702.50
56.242.00
205 . 192.50
1+8 , 886.50
97.1+28.25
191 , 920.00
250 , 406.25
120, 492.75
372 , 366.25
82 , 879.50
98 . 179.25
118,580.75
185 , 672.00
85 . 130.00
200 , 450.00
218,008.00
86 , 667.00
125 . 5O8.92
236,584.00
76.790.50
136,790.50
55 . 000 . 00
129. 000.00
65 . 000.
107, 166.67
i 55 .O83.33
91,083.33
00
81,000.00
00
89 . 250.00
89 . 250.00
89 ,250.00
89 ,250.00
52,440.62
76 , 440.62
5 5 0 .0 0
1 2 5 , 5 5 0 .0 0
M M E 01 CORPORATION
CALENDAR OR
------------- gfggg’
------------AND OFü ICüiRS OR
FISCAL YSAR
SALARY
COMMISSION
BONUS
COMPENTOTAL
EMPLOYEES_____________________ 5NDED_____________________________________ ____
SATION
MICHIGAN
BURROUGHS ADDING MACHINE COMPANY
Backus, Standish
Doughty, a . J .
CHRYSLER CORPORATION
Chrysler, W. P.
Hutchinson, B. E.
K e lle r, K. T.
Zeder, Fred M.
THE DETROIT EDISON COMPANY
Dow, Alex
FORD MOTOR COMPANY
Craig, B. J .
Ford, Edsel B.
Martin, P. E.
Sorensen, Chas. E«
Wibel, A. M,
GENERAL MOTORS CORPORATION
Archer, Thomas P.
3 iech ler, Elmer G.
Bradley, Albert
Brown, Donaldson
Coyle, Marvin E>
Crawford, James M.
Cu rtice, Harlow H,
Dreystadt, Nicholas
E a r l, Harley J .
Evans, Ronald K.
Fish er, Alfred J .
Fish er, Edward F.
Fisher, Lawrence P.
Fisher, W i l l i a m A,
Grant, Richard H,
12 /31/39
12 /31/39
12 /31/39
12/31/39
12/31/39
85,000,00
80 , 000.00
200,000.16
90.000. 00
100 , 000.08
85.000.
08
88,167.80
150.00
150.00
85,150.00
80,150.00
500.00
U50.00
200,00
200,000.16
90,500.00
100,U50.08
85,200.08
320,00
88,U87.80
IO3.999. 92
1^2 , 999.92
168.999.96
168 . 999.96
78,000.00
Uo.ooo.oo
U7.O83.3O
100,000,00
100,000,00
100,000.00
36,000.00
75.ÛOO.OO
U5.000.00
50.000.
50.000.
75.000.
75.000.
75.000.00
75 . 000.00
75.000.00
103.999.92
1^2,999.92
168,999.96
168,999.96
78,000.00
300.00
100.00
36,896.50
37.005.50
125,622.50
108, 073.50
120,390.50
55,699.00
95.6U7.50
*+3. 5U5.50
U7.578.50
53.301.00
27,250.00
68,016.00
90, 088.50
16,023.00
250.00
102.02U.00
U50.00
350.00
250.00
00
00
00
00
2,752.50
3.U16.00
10,611.50
9.U8U.50
9.632.75
u ,629.75
8,025.75
3.UUU.00
3. 77U.00
U , 5U2.25
2 ,69U.25
6,076.25
7.905.50
l,UiU.25
8 ,6 7 2 .0 0
79.6U9.00
87,50U.80
236.6su.00
217,908,00
230,273.25
96,328.75
178,673.25
91.929.50
101,352.50
107.8U3.25
10U.9UU.25
1U9.092.25
173.29U.00
92,537.25
1S5,9h6.00
NAM.& OP CORPORATION
CALENDAR OR
AND OFFICERS OR
FISCAL YEAR
SALARY
COMMISSION
BONUS
EMPLOYEES_______________________________ ENDED_________________________________ ____ ________________
OTHER
C0MP2 NSAT! ON
10
TOTa L
Maryland (con.)
commercial cred it company
Duncan, A. E.
CONSOLIDATED GAS ELECTRIC LIGHT AND
POWER COMPANY OF BALTIMORE
Wagner, Herbert A,
CROWN CORK & SEAL COMPANY, INC.
McManus, Charles E.
THE HECHT COMPANY
Dulcan, C. B . , Sr.
12 / 31/3 9
85,000.08
85,000.08
12/31/39
12/31/39
ihl/kO
75.000.00
U 17 .ll
100, 000.00
75.U17.11
100.000.00
5 0 , 000.00
5 7 .1 3 7 .S3
30.000.00
U6,750.oo
107.137.83
Massach usetts
DRAPER & COMPANY, INC.
Draper, Paul A.
WM. FILENE’ S SONS COMPANY
F ile n e , Lincoln
Fro st, Edward J .
K ir ste in , Louis E.
HUNT SPILLER MANUFACTURING CORP.
E l l e t , V ictor W.
LEVER BROTHERS COMPANY
Countway, F. A.
UNITED SHOE MACHINERY CORPORATION
Winslow, Sidney W., J r .
U. S. BRANCH OF THE EMPLOYERS’
LIABILITY ASSURANCE CORP., LTD.
Stone, Edward C.
Palmer,
Sydney H.
l l / 30 /UO
l/3l/U0
12/31/39
80.000. 00
80,000.00
80,000.00
80,000.00
80,000.00
80,000.00
78, 986.32
6 /3 O/UO
2 /29 /UO
76,750.00
30.000.00
78, 986.32
353*210.92
383,210.92
90.000. 00
90,000.00
12/31/39
81,000.00
U0.000.08
i9i.336.35
UU,075.17
272, 336.35
SU.075.25
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
riscal tear
salary
ENDED
COMMISSION
BONUS
____________
OTHER
C0MP3NSAT ION
1
TOTAL
ILLINOIS (Con.)
STANDARD Ra ILWAY EQUIPMENT COMPANY
Prank, A. A.
Arnold, D. R.
TRIBUNE COMPANY
Rose, L. H.
Macfarlane, W. E.
1 2 /31/39
1 2 /31/39
100,000.00
37.000.00
26,666.67
75.000.00
137.000.
101,666.67
00
100.000.
00
111.1+19.79
INDIANA
Ba l l
brothers
company
Ball, Prank C.
SERVEL, INC.
Ruthenburg, Louis
12/31/39
75.000.
00
5.00
60.000.
00
27,500.00
75.005.00
IO/31/HO
1,200.00
88,700.00
KENTUCKY
PRANKPORT DISTILLERIES, INC.
Jones, Lawrence
Brownlee, J. P.
6/30/1+0
95.000.00
95,000.00
125,000.08
125,000.08
LOUISIANA
LOUISIANA COCA-COLA BOTTLING CO.,LTD. 12/31/39
Preeman, A. B.
LOUISIANA MATERIALS COMPANY, INC.
2/29/1+0
Stevens, W. L.
6, 000.00
2l+,000.00
71,352.46
36,259.^2
18,000.00
77,352.46
i5.57O.OO
93.229.42
150.00
75.150.00
MARYLAND
ACACIA MUTUAL LIFE INSURANCE COMPANY
Montgomery, William
12/31/39
75.000.00
HAME OP COBPOEA.TION
CALEHDAB OR
~ ------------------ ~ --- 5
AHD OFFICERS OH
FISCAL YEAR
SALAHY
COMMISSION
BOOTS
COMPEH_________EMPLOYEES_____________________ENDED______________ _______________________________ SAT IOU
TOTAL
ILLINOIS (Con.)
LORD & THOMAS, INC.
Francisco, Don
Coons, Sheldon R.
MARS INCORPORATED
Mars, Mrs. E. V.
MIAMI CORPORATION
Erminger, H. B. Jr.
W. H. MINER, INC.
Withall, A. P.
MONTGOMERY WARD & COMPANY, INC.
Avery, S. L.
Fogler, R. H.
Folsom, F. M.
MORTON SALT COMPANY
Peterkin, Daniel
NEWS SYNDICATE COMPANY, INC.
Holliss, R. C.
Flynn, F. M.
Annenberg, M.
Wilken, R. T.
NORTHWEST ENGINEERING COMPANY
Houston, L. E,
THE PEPSODENT COMPANY
Smith, Kenneth G.
J. P. SEEBURG CORPORATION
Seeburg, J. P.
Seeburg, N. M.
Roberts, H. T.
A. E. STALEY MANUFACTURING COMPANY
Staley, Augustus Eugene
STANDARD OIL COMPANY (INDIANA)
Seubert, Dd.wa.rd. G-.
12/31/39
102 .536.70
109.536.70
12 /31/39
120 ,000.00
120,000.00
12 /31/39
75 .000.00
400.00
12 /31/39
50,000.00
48 ,958.38
75 .400.00
98,95s.38
1/31/U0
100,000.00
75.000.00
^9.999.92
37 .500.00
15,000.00
60,165.65
75.165.65
50,000.00
50,000.00
50,000.00
47.916.59
60,205.10
60,205.10
60,205.10
28 ,707.45
110.205.10
110.205.10
110.205.10
76,624.04
50,000.00
50,000.00
100,000.00
12/31/39
350.00
350.00
25.350.00
100.350.00
112.850.00
75 .3^9.92
12/31/39
12/31/39
12/31/39
143.720.71
143,780.71
9 /30 /ifO
50.000.
50.000.
12/31/39
12 /31/39
3 6 . 000 . 00
109.999*92
00
00
82,830.02
41,011.55
28,603.11
7 9 . 4 4 3 .7 9
91,011.55
72,603.11
82,830.02
115.443.79
109.999.92
OF C O R P O R A T I O N C A L E N D A R OR
—
------- om m
AND OFFICERS OR
FISCAL YEAR
SALARY
COMMISSION
BONUS
COMPEN_______ EMPLOYEES
______________ ENDED_________________________________
_______ SATION
I
name
TOTAL
ILLINOIS (Con.)
BORG-WARNER c o r p o r a t i o n
Ingersoll, R. C.
Davis, C. S.
Borg, Geo. W.
Simpson, J. M.
BRINK*S# INCORPORATED
Allen, Frank
Allen, John D.
THE CELOTEX CORPORATION
Dahlberg, Bror
CHAIN STORE PRODUCTS CORPORATION
Goldberg, Sol H.
CHICAGO ROTOPRINT COMPANY
Geiger, Alfred B.
CONTINENTAL ILLINOIS Na TIONa L BANK
a ND TRUST COMPANY OF CHICAGO
Cummings, Walter J.
CRa NE c o m p a n y
Nolte, C. 3 .
R. R. DONNELLEY & SONS COMPANY
Littell, C. G.
FAIRBANKS, MORSE & COMPANY
Morse, Robert H.
HALES & HUNTER COMPANY
Woolman, C. S.
HOUSEHOLD FINANCE CORPORATION
Henderson, B. E.
JEWEL TEA COMPANY, INC.
Karker, M. H.
LADY ESTHER, LTD.
Busiel, Syma
Busiel, Alfred
12/31/39
50, 562.50
76,266.68
56, 969.96
U2.000.00
12/31/39
10/31/Uo
5/31/1«)
3/31/40
sU . 999. sU
SU,999. 8U
35.000.00
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
12/31/39
1 ,200.00
U00.00
700.00
U00.00
99.U 62.50
95.S 7U.52
120.00
120.00
8 5 ,1 1 9 .SU
s5 .1 1 9 .su
U 6.osi.iU
8U.669.96
SU.U00.00
SI, 081.
120,000.00
15,000.00
12/31/39
U7.700.00
19,207.8U
27,000.00
U2.000.00
lU
120,000.00
S S . 9U5 .6 3
73.9U5.63
100,000.00
600.00
100,600.00
80, 000.00
550.00
s o ,550.00
26,000.00
95.6s0.50
60,000.00
55.12s.00
10,020.00
121,680.50
600.00
115, 728.00
212.909.so
222,929.SO
75,000.00
50,000.00
3U.96
i25.O3U.96
50,000.00
U7.191.70
300.00
97.U 91.70
96,000.00
96,000.00
96,000.00
96,000.00
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
DELAWARE (Con.)
COLUMBIA GAS & ELECTRIC CORPORATION
Gossler, Philip G.
E. I. du PONT de NEMOURS & COMPANY
Fürst, Edward W.
Bolton, Elmer K.
Wardenburg, Frederic A.
Yerkes, Leonard A.
Robinson, Edmund G,
Yancey, Edward B.
Brown, J. Thompson
Carpenter, Walter S., Jr.
Crane, Jasper E.
du Pont, Lammot
Echols, Angus B.
Harrington, Willis F.
McCoy, John W,
Stine, C. M. A.
Grasselli, Thomas S.
Richter, Wm.
Rykenboer, Edward A.
HERCULES POWDER COMPANY
Dunham, R. H.
Higgins, C. A.
VICK CHEMICAL COMPANY
Preyer, W. Y.
12/31/39
9 0 .000 . 00
9 0 ,0 0 0 .0 0
12/31/39
39.204.00
44.625.00
55.375.00
44,876.52
59.875.00
55.995-79
39.009.02
4 3 ,50 0 .0 0
6 6 ,6 9 7 .0 8
47,764.71
3 3 .000 . 00
3 2 .4 0 0 .0 0
4 9 .5 0 0 .0 0
4 2 .9 0 0 .0 0
3 6 .000 . 00
42.000.
6 0 .000 .
42.000.
1 5 0 .000 .
42.000.
42.000.
42.000.
42.000.
00
00
00
00
00
00
00
00
42.900.00
32.400.00
46,825.98
4 8 ,0 7 5 .9 8
5 6 ,6 9 5 .7 9
6 1 ,4 4 5 .7 9
6 7 ,2 5 0 .0 0
35.853.93
4 9 ,1 2 5 .0 0
5 2 .0 5 0 .0 0
47,250.00
29,000.00
34,ooo.oo
39.727.00
220.00
2SO.00
2 6 0 .0 0
220.00
2 6 0 .0 0
280.00
2 6 0 .0 0
2 6 0 .0 0
2 6 0 .0 0
2 6 0 .0 0
240.00
240.00
220.00
83,829.00
88,375.00
77.276.52
IO9 .5 9 5 .OO
9 9 .i7 5 . 7 9
7 5 .2 6 9 .O2
85.720.00
126,957.08
90,044.71
1 5 0 ,2 6 0 .0 0
89.085.98
90,335*98
98.955*79
lO3 .6 8 5 .7 9
lO7 .2 i7 .OO
78.973-93
81,525.00
12/31/39
81,050.00
81,250.00
6/30/40
47.000.
00
3 6 ,2 5 0 .0 0
3 6 0 ,0 0
83,610.00
ILLINOIS
BLACKETT-SAMPLE-HUMMERT, INC.
Sample, J . G.
Blackett, H i l l
H u m m e r t . E, J1.
2/29/40
90. 000. 00
90.000, ©o
60 .0 0 0 . -00
5 9 .3 A 3 .0 9
15.OOO.OO
15.000.00
105.000.00
1 05,000.00
119.3A3.09
NAME OE CORPORATION
AND OPPICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
OTHER
COMMISSION
BONUS
C0MP3NSATION
1
TOTAL
CALIFORNIA (Con.)
SELZNICK INTERNATIONAL PICTURES, INC. 8/31/1«)
Selzn ick , David 0.
Hitchcock, Alfred
MYRON SELZNICK & COMPANY, INC.
9/30/1+0
Selzn ick , Myron
STANDARD OIL COMPANY OF CALIFORNIA
12/31/39
Berg, William H.
WALTER WANGER PRODUCTIONS, INC.
6/30/1+0
Wanger, Walter F .
McCrea, Jo e l
Garnett, Tay
WELLS FARGO BANK & UNION TRUST CO.
12/31/39
Llpman, F. L.
185.500.00
135.275.00
185.500.00
9*+3.50
1 3 0 ,0 0 0 .0 0
1 3 0 ,0 0 0 .0 0
9 0 ,0 0 0 .0 0
9 0 ,0 0 0 .0 0
1 3 0 ,00 0 .0 0
8M
1 3 6 ,8 1 8 . 5 0
99.99
75,000.00
2 1 ,8 8 3 .8 8
50,000.00
2 6 .8 3 3 . 3 3
55.000.08
3 0 ,0 0 0 .0 0
130,000.00
8^99.99
9 6 ,8 8 3 .8 8
7 6 .8 3 3 . 3 3
CONNECTICUT
UNITED AIRCRAFT CORPORATION
Brown, Donald L.
NORTHAM WARREN CORPORATION
Warren, Northam
12/31/39
1,950.00
86,950.08
100.00
100,100.00
12/31/39
100,000.00
DELAWARE
AMERICAN SUPPLIERS, INC.
Lipscomb, J . E . , J r .
BENEFICIAL MANAGEMENT CORP. ( N .J .)
Watts, Charles H.
BENEFICIAL MANAGEMENT CORP.
Watts, Charles H.
THE COCA-COLA COMPANY
Woodruff, R. W.
Acklin, A. A.
Sibley, J. A.
12/31/39
100,000.00
100,000.00
12/31/38
1 0 3 ,1+8 3 . 3 2
820.00
10^,303.32
1 0 5 ,1 5 0 .0 0
795.00
105 ,9U5 .00
550.00
108,883.33
12/31/39
12/31/39
108,333.33
8^-,000.00
sh.ooo.oo
550.00
L50.00
8k,550.00
8k,A50.00
K ä m e OE CORPORATION
~
CALENDAR o h
ä NE o f f i c e r s o r
FISCAL y e a r
_____ EMPLOYEES__________ _____________gjÿTïïnp
SALARY
COMMISSIOK
BONUS
OTHER
COMPENSATION
TOTAL
CALIFORNIA (Con.)
THE FELDMa N-BLUM CORPORATION
6 /30 /hO
Feldman, Chas. Kenneth
SAMUEL GOLDWYN INC,, LTD.
b/?q/Un
Goldwyn, Samuel
'
Swerling, Jo
Mayo, Archie
Wood, Sam
Wyler, William
Cooper, Gary
HEARST CONSOLIDATED PUBLICATIONS, INC,
12/31/39
I Hearst, William Randolph
IDAHO MARYLAND MINES CORPORATION
12/31/39
f MacBoyle, Errol
LOS ANGELES EVENING HERAT/H & EXPRESS
12/31/39
Barham, Frank E,
LOS ANGELES TURF CLUB, INC.
6/30/î+o
Strub, Chas. H.
NORTH AMERICAN a VIa TION, INC.
12/31/39
Kindelberger, J. H.
Atwood, John L.
OCCIDENTAL l i f e INSURANCE COMPa NY
1 2 /31/3 9
Leisure, Hoyt M.
Pa c i f i c g a s a n d e l e c t r i c c o m p a n y
1 2 /3 1/3 9
Black, J. B.
HàLRQôCH STUDIOS INCORPORATED
ó / 31 / k O
Roach, Hal E.
Laurel, Stan
Menjou, Adolphe
SAFEWAY STORES, INC.
Warren, L. A.
Giles, Lawrence
75.925.27
107.000.
81,666.66
175.156.25
177.000. 00
10h.999.3h
295.106.92
75.925.27
00
107.000.
81,666.66
175.156.25
177.000. 00
10^.999*3^
295.106.92
100,000.00
100.000.
12,000.00
81.250.00
80 ,000.00
Ih6.i50.5ll
00
00
150 ,000.00
55 .000.00
158.150.5h
110.00
90.00
139.932.82
1 .280.00
103,500.00
82,500.01
76,280.00
103 .500.00
82,500.01
00
100, 000.00
12 /31/39
6 0 .000 . 00
3 0 .000 . 00
186 ,110.00
75.090.00
189 ,932.82
75.000.00
10 0 .000 .
93.250.00
80 ,000.00
12,000.00
36.000.
20.000.
00
9 6 .70 9 .0 1
1 5 6 .70 9 .0 1
hs.35h.51
78,35h. 51
00
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
-----------21
salary
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
ALABAMA
THE BIRMINGHAM NEWS COMPANY
Hansen, Victor H.
LIBERTY NATIONAL LIFE INSURANCE CO.
Jordan, R. C.
12 /31/39
93,600.00
1,800.00
95. W o . 00
12/31/39
79 . W 1.7 9
79 . W 1.7 9
ARIZONA
ARIZONA LUMBER & TIMBER COMPANY
Gibson, Bruce
12 /31/39
l6l.018.75
l6l.018.75
Ca l i f o r n i a
ARGOSY CORPORATION
Ford, John
PHIL BÜRG - BERT ALLENBERG, INC.
Berg, Phil
Allenberg, Bertram
BULLOCK*S, INC.
Winnett, P. G.
CHARLES CHAPLIN FILM CORPORATION
Chaplin, Charles
DARMOUR, INC.
Holt, Jack
DESMOND*S
Huesman, Ralph R.
WALT DISNEY PRODUCTIONS
Disney, Walter E.
DOUGLAS AIRCRAFT COMPANY, INC.
Bertrandias, V. E.
FAMOUS PRODUCTIONS, INC.
Edington, H. E.
8/31/40
12 /31/39
85,000.00
85,000.00
H 3.437.5O
84.000.
00
13.750.00
10,000.00
127,187.50
94.000.
1/31/40
20,000.00
75.000. 00
95.000. 00
12/31/39
152,000.00
152,000.00
80,384.62
80,384.62
4/30/40
7/31/40
60.000.
00
85 .000.
00
22.309.00
82,309.00
9/30/40
85.000.00
11/30/39
5 ,200.00
12 /31/39
101 ,000.00
75.9SO.67
81,180.67
101,000.00
00
-
2
-
"The S e c r e t a r y s h a l l com pile from the r e t u r n s
made a l i s t c o n t a in in g the names o f , and the amounts
p a id t o , each such o f f i c e r and employee and the
name o f the p a y in g c o r p o r a t io n and s h a l l make such
l i s t a v a i l a b l e to the p u b l i c .
I t s h a l l be u n la w fu l
f o r any p e rso n to s e l l , o f f e r f o r s a l e , or c i r c u l a t e ,
f o r an y c o n s i d e r a t i o n w h a t s o e v e r , any copy or re p ro
d u c tio n o f any l i s t , or p a r t t h e r e o f , a u t h o r iz e d to
be made p u b lic by t h i s A ct or by an y p r i o r A ct r e
l a t i n g to the p u b l i c a t i o n o f in fo r m a tio n d e r iv e d
from income t a x r e t u r n s ; and an y o f f e n s e a g a i n s t
the f o r e g o i n g p r o v i s i o n s h a l l be a misdemeanor and
be punished by a f i n e not e x c e e d in g $ 1 , 0 0 0 or by
imprisonment not e x c e e d in g one y e a r , or b o t h , a t
the d i s c r e t i o n o f the c o u r t ; P r o v id e d , That nothing
i n t h i s se n ten c e s h a l l be c o n stru e d to be a p p li c a b le
w i t h ^ r e s p e c t to any new sp aper, o r o th e r p e r i o d i c a l
p u b l i c a t i o n e n t i t l e d to a d m iss io n to the m a ils as
se c o n d -class m a tte r ."
The names o f the c o r p o r a t i o n s and o f the o f f i c e r s and
em ployees who r e c e i v e d com pensation in e x c e s s o f $ 7 5 ,0 0 0 , as
r e p o r t e d to the S e c r e t a r y by the Bureau o f I n t e r n a l Revenue,
are as fo llo w s ;
FOR RELEASE, MORNING NEWSPAPERS
Sunday, August 3 , 1 9 4 1 . _________
8 /2/41
Press Service
S e c r e t a r y o f the T r e a s u r y Morgenthau to d a y made p u b lic ,
i n accord an ce w ith a p r o v i s i o n o f the I n t e r n a l Revenue Code, a
l i s t o f i n d i v i d u a l s r e c e i v i n g from c o r p o r a t i o n s compensation
f o r p e r s o n a l s e r v i c e s i n e x c e s s o f $ 7 5 ,0 0 0 f o r the cale n d ar year
19 3 9 or f i s c a l y e a r s ending i n 19 4 0 ,
The S e c r e t a r y o f the T r e a s u r y i s r e q u i r e d by S e c t io n 148 (f) I
o f the Code, a s amended by S e c t i o n 407 o f the Revenue Act of 1939,1
to make p u b lic th e names o f such i n d i v i d u a l s a s were reported by '
em ploying c o r p o r a t i o n s i n t h e i r income t a x r e t u r n s .
The l i s t
com piled shows the amounts p a id to o f f i c e r s and employees by
r e p o r t i n g c o r p o r a t i o n s i n the form o f s a l a r y , commission, bonus
or o th e r com pensation f o r p e r s o n a l s e r v i c e s .
S e c t i o n 14 8 ( f ) o f the I n t e r n a l Revenue Code, a s amended
by S e c t i o n 407 o f th e Revenue A ct o f 1 9 3 9 , i s a s f o l l o w s :
’’Compensation o f O f f i c e r s and Em ployees: - Under
r e g u l a t i o n s p r e s c r i b e d by the Commissioner w ith the
a p p r o v a l o f the S e c r e t a r y , e v e r y c o r p o r a t i o n s u b je c t
to t a x a t i o n under t h i s c h a p te r s h a l l , i n i t s r e t u r n ,
submit a l i s t o f the names o f a l l o f f i c e r s and em
p l o y e e s o f such c o r p o r a t io n and the r e s p e c t i v e amounts
p a id to them d u r in g the t a x a b l e y e a r o f the c o rp o ra tio n
J,
p
^ n. a s s a l a r y , com m ission, bonus", or
o th e r com pensation f o r p e r s o n a l s e r v i c e s re n d e r e d , i f
the a g g r e g a t e amount so p a id to the i n d i v i d u a l i s in
e x c e s s o f $ 7 5 ,0 0 0 .
TREASURY DEPARTMENT
W ashington
FOR RELEASE, MORNING NEWSPAPERS*
Sunday, August 3 , 1 9 4 1 .
575751--- ----
-------------
P ress S e rv ic e
No. 2 6 - 7 3
S e c r e t a r y o f the T r e a s u r y Morgenthau to d ay made p u b l i c ,
in accord ance w ith a p r o v i s i o n o f the I n t e r n a l Revenue Code, a
l i s t o f i n d i v i d u a l s r e c e i v i n g from c o r p o r a t i o n s com pensation
f o r p e r s o n a l s e r v i c e s i n e x c e s s o f $ 7 5 ,0 0 0 f o r the c a le n d a r y e a r
1939 or f i s c a l y e a r s ending i n 1 9 4 0 .
The S e c r e t a r y o f the T r e a s u r y i s r e q u i r e d by S e c t i o n 14 8 ( f )
of the Code, a s amended by S e c t i o n 407 o f the Revenue A ct o f 1 9 3 9 ,
to make p u b li c th e names o f such i n d i v i d u a l s as were r e p o r t e d by
employing c o r p o r a t i o n s i n t h e i r income t a x r e t u r n s .
The l i s t
compiled shows the amounts p a id to o f f i c e r s and em ployees by
r e p o r t in g c o r p o r a t i o n s i n the form o f s a l a r y , com m ission, bonus
or o th er com pensation f o r p e r s o n a l s e r v i c e s .
S e c t i o n 14 8 ( f ) o f the I n t e r n a l Revenue Code, as amended
by S e c t i o n 407 o f the Revenue A ct o f 1 9 3 9 , i s as f o l l o w s :
tfCompensation o f O f f i c e r s and Em p lo yees: - Under
r e g u l a t i o n s p r e s c r i b e d by the Commissioner w ith the
approval o f the S e c r e t a r y , e v e r y c o r p o r a t i o n s u b je c t
to t a x a t i o n under t h i s c h a p t e r s h a l l , i n i t s r e t u r n ,
submit a l i s t o f the'n am es o f a l l o f f i c e r s and em
p lo y e e s o f such c o r p o r a t i o n and the r e s p e c t i v e amounts
p a id to them d u rin g the t a x a b l e y e a r o f the c o r p o r a t io n
by the c o r p o r a t i o n a s s a l a r y , com m ission, bonus, or
o th e r com pensation f o r p e r s o n a l s e r v i c e s re n d e r e d , i f
the a g g r e g a t e amount so p a id to the i n d i v i d u a l i s in
e x c e s s o f $ 7 5 ,0 0 0 .
*.
-
2
.
-
"The Secretary shall compile from the returns
made a list containing the names of, and the amounts
paid to, each such officer and employee and the
name of the paying corporation and shall make such
list available to the public. It shall be unlawful
for any person to sell, offer for sale, or circulate,
for any consideration whatsoever, any copy or repro
duction of any list, or part thereof, authorized to
be made public by this Act or by any prior Act re
lating to the publication of information derived
from income tax returns; and any offense against
the foregoing provision shall be a misdemeanor and
be punished by a fine not exceeding $ 1 ,000.or by
imprisonment not exceeding one year, or both, at
the discretion of the court: Provided, That nothing
in this sentence shall be construed to be applicable
with respect to any newspaper, or other periodical
publication entitled to admission to the mails as
second-class matter."
The names of the corporations and of the officers and
employees who received compensation in excess of $75,000, as
reported to the Secretary by the Bureau of Internal Revenue,
are as follows:
1
M M E OE CORPORATION
AND OEEICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPENSATION
TOTAL
ALABAMA
THE BIRMINGHAM NEWS COMPANY
Hansen* Victor H.
LIBERTY NATIONAL LIEE INSURANCE CO.
Jordan, R. C.
12 /31/39
1 ,800.00
93,600.00
95,400.00
12 /31/39
79.1+61.79
79.1+61.79
ARIZONA
ARIZONA LUMBER & TIMBER COMPANY
Gibson, Bruce
12/31/39
161,018.75
161,018.75
CALIFORNIA
ARGOSY CORPORATION
Ford, John
PHIL BERG - BERT ALLENBERG, INC.
Berg, Phil
Allenberg, Bertram
BULLOCK*S, INC.
Winnett, P. G.
CHARLES CHAPLIN FILM CORPORATION
Chaplin, Charles
DARMOUR, INC.
Holt, Jack
DESMOND’S
Huesman, Ralph R.
WALT DISNEY PRODUCTIONS
Disney, Walter E.
DOUGLAS AIRCRAFT COMPANY, INC.
Bertrandias, V. E.
Fa m o u s p r o d u c t i o n s , i n c .
Edington, H. E.
S/3I/2+O
12/31/39
85,000.00
85,000.00
113.1+37.50
84 ,000.00
13 *750.00
10,000.00
127,187.50
94,000.00
75,000.00
20,000.00
95,000.00
1/31/1+0
12/31/39
152,000.00
152,000.00
80 ,384.62
80 ,384.62
4 /30/40
7/31
M
22,309.00
60,000.00
82,309.00
9/30/1+0
85,000.00
85,000.00
11/30/39
5,200.00
75.920.67
81 ,180.67
12/31/39
101,000.00
101,000.00
N a ME OF CORPORATION
CALENDAR OR
AND OFFICERS OR
FISCa L YEAR
_____ EMPLOYEES______________________ ENDED
____________ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ k
SALARY
COMMISSION
BONUS
OTHER
CÔMPENSATION
TOTAL
CALIFORNIA (Con.)
THE FELDM a N-BLUM CORPORATION
6/30/1+0
Feldman, Chas. Kenneth
Sa m u e l g o l d v y n i n c . , l t d .
b/29/1+0
Go ldwyn, Samuel
Swerling, Jo
Mayo, Archie
Wood, Sam
Wyler, William
Cooper, Cary
HE a RST c o n s o l i d a t e d PUBLICATIONS, INC, 12 /31/39
, Hearst, William Randolph
.IDAHO MARYLAND m i n e s c o r p o r a t i o n
1 2 /3 1/3 9
-cr
MacBoyle, Errol
LOS ANGELES EVENING-HSRAIiD & EXPRESS
7 5 , 925.27
1 0 7 .0 0 0 .
00
S i , 666 .66
175 , 156.25
1 7 7 .0 0 0 . 00
10*4, 999 . 3*4
2 9 5 ,10 6 .9 2
10 7 ,0 0 0 .0 0
8 1,6 6 6 .6 6
1 7 5 ,1 5 6 . 2 5
17 7 ,0 0 0 .0 0
10 *4, 999 . 3 ^
2 9 5 ,10 6 .9 2
10 0 ,0 0 0 .0 0
1 0 0 »000.00
1 2 ,0 0 0 .OO
8 1,2 5 0 .0 0
8 0 , 00 0 .0 0
1*46,150.5*4
j-rr
O
) 000# ru'
2 0 ,0 0 0 .0 0
15 0 ,0 0 0 ,0 0
5 5 ,0 0 0 .0 0
1 5 8 , 150 . 5*4
1 1 0 .0 0
9 0 .0 0
12 /31/39
139 * 9 3 2.82
1 2 /3 1/39
b/31/U0
i s 6 , 1 1 0 .0 0
7 5 ,0 9 0 .0 0
189 , 93 2 .8 2
7 5 ,0 0 0 .0 0
1 , 2 8 0 .0 0
10 3 ,5 0 0 .0 0
8 2 ,5 0 0 .0 1
10 0 ,0 0 0 .0 0
12/31/39
9 3 ,2 5 0 .0 0
80 , 0 0 0.00
12 ,0 0 0 .0 0
12 /31/39
00« 00•
0 0
0 0
0 0
0 0K\
VO
Barham, Frank F.
LOS ANGELES TURF CLUB, INC.
Strub, Chas. H.
NORTH a MERICAN a VIa TION, INC.
Kindelherger, J. H.
Atwood, John L.
OCCIDENTAL LIFE INSURANCE COMPa NY
Leisure, Hoyt M.
Pa c i f i c gas a n d electric company
Black, J, B,
HALRQèCH STUDIOS INCORPORATED
Roach, Hal E.
Laurel, Stan
MenJou, Adolphe
SAFEWAY STORES, INC.
Warren, L. A,
.Giles, Lawrence
12 /31/39
7 5 ,9 2 5 .2 7
7 6 ,2 8 0 .0 0
10 3 ,5 0 0 .0 0
8 2 ,5 0 0 .0 1
10 0 ,0 0 0 .0 0
9 6 .7 0 9 .0 1
*+2,351+. 5 1
1 5 6 ,7 0 9 .0 1
7 8 ,3 5 * 4 .5 1
5
M M E OR CORPORATION
AND ORRICERS OR
_____EMPLOYEES_______
CALENDAR OR
RISCAL YEAR
SALARY
COMMISSION
BONUS
SIDED
OTHER
COMPENSAT ION
TOTAL
CALIFORNIA (Con.)
SELZNICK INTERNATIONAL PICTURES, INC. 8/31/ito
Selznick, David 0 .
Hitchcock, Alfred
MYRON SELZNICK & COMPANY, INC.
9 /3 0 /1*0
Selznick, Myron
STANDARD OIL COMPANY OR CALIRORNIA
12/31/39
Berg, William H.
WALTER WANGER PRODUCTIONS, INC.
6/30/1+0
Wanger. Walter R.
McCrea ; To el.
Garnetts lay
WELLS RARGO BANK & UNION TRUST CO.
12/31/39
Lipman, E. L.
185 ;500.00
135»375.00
9^3*50
185,500.00
136,818.50
130,000.00
130,000.00
90,000.00
90,000.00
130,000.00
3*+,^99.99
75*000.00
130,000.00
3^ 99*99
96,883.88
21,883.88
50,000.00
26,833.33
55 *000.08
30,000.00
76,833.33
CONNECTICUT
UNITED AIRCRAFT CORPORATION
Brown, Donald L.
NORTHAM WARREN CORPORATION
Warren, Northam
12/31/39
1,950.00
86,950.08
100.00
100,100.00
12/31/39
100,000.00
DELAWARE
AMERICAN SUPPLIERS, INC.
Lipscomb, J. E., Jr.
BENEFICIAL MANAGEMENT COBP. (N.J.)
Wattss Charles H.
BEBEEICIAL MANAGEMENT CORP.
Watts, Charles H.
THE COCA-COLA COMPANY
Woodruff, Rc W.
Acklin, A. A.
Sibley, J. A.
12/31/39
100,000.00
100,000.00
12/31/3S
103,^83.32
820.00
10^,303.32
105,150.00
795.00
105 ,9^5 .0 0
108,333.33
8^,000«00
8^,000.00
550.00
550.00
U50.OO
108,883.33
8*I0550.00
8^,%0.00
12/31/39
12/31/39
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
____________
SALARY
COMMISSION
BONUS
OTHER
COMPENSAT ION
6
TOTAL
DELAWARE (Con.)
COLUMBIA GAS & ELECTRIC CORPORATION
Gossler, Philip G.
E. I. du PONT de NEMOURS & COMPANY
Fürst, Edward W.
Bolton, Elmer K.
Wardenburg, Frederic a .
Yerkes, Leonard A.
Robinson, Edmund G,
Yancey, Edward B.
Brown, J. Thompson
Carpenter, Walter S. , Jr.
Crane, Jasper E.
du Pont, Lammot
Echols, Angus B«
Harrington, Willis F.
McCoy, John W.
Stine, C. M. A.
Grasselli, Thomas S.
Richter, Wm.
Rykenboer, Edward A.
HERCULES POWDER COMPANY
Dunham, R. H.
Higgins, C. A.
VICK CHEMICAL COMPANY
Preyer, W. Y.
12 /31/39
90,000.00
90,000.00
12/31/39
39 ,204 .00
33,000.00
32, ta). 00
^9,500.00
42,900.00
36,000.00
42 ,000.00
60,000.00
4 2 ,000.00
150,000.00
42 ,000.00
4 2 ,000.00
42 ,000.00
4 2 ,000.00
39 ,727.00
42,900.00
32 ,400.00
46 ,825.92
48,075,98
56,695.79
61,445.79
67,250,00
35 ,853.93
49,125.00
52,050.00
47 ,250.00
29,000.00
34 ,000.00
47 ,000.00
36,250.00
90,000.00
90,000.00
60,000.00
15,000.00
15,000.00
44,625.00
55 .375.00
44,876.52
59 .875.00
55 ,995.79
39.009.02
43,500.00
66,697.08
47,764.71
220.00
280.00
260.00
220.00
260.OO
280.00
260.OO
26O.OO
260.00
26O.OO
240.00
240.00
220.00
12 /31/39
83,829.00
88 ,375.00
77 .276.52
109 ,595.00
99.175.79
75 ,269.02
85,720.00
126,957.08
90,044.71
150,260.00
89 ,085.98
90 ,335.98
98 ,955.79
103 ,685.79
107,217.00
78 ,973-93
81,525.00
si,050.00
81,250.00
6/30/40
360.OO
83,610.00
ILLINOIS
BLACKETT-SAMPLE-HUMMERT, INC.
Sample, J. G.
Blackett, Hill
Hummert, E. F.
2/29/40
59 .343.09
105,000.00
105,000.00
119.343.09
I
NAME OP CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
PISCAB YEAR
ENDED
SALARY
COMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
ILLINOIS (Con.)
BORG-WARNER CORPORATION
Ingersoll, R. C.
Davis, C. S.
Borg, Geo. W.
Simpson, J. M.
BRINK’S, INCORPORATED
Allen, Prank
Allen, John D.
THE CELOTEX CORPORATION
Dahlberg, Bror
CHAIN STORE PRODUCTS CORPORATION
GolcLberg, Sol H.
CHICAGO ROTOPRINT COMPANY
Geiger, Alfred B.
CONTINENTAL ILLINOIS NATIONAL BANK
a ND TRUST COMPANY OP CHICAGO
Cummings, Walter J.
CRANE COMPANY
Nolte, C. B.
R. R. DONNELLEY & SONS COMPANY
Littell, C. G.
Fa i r b a n k s ,
morse
&
company
Morse, Robert H.
HALES & HUNTER COMPANY
Woolman, C. S.
HOUSEHOLD FINANCE CORPORATION
Henderson, B. E.
JEWEL TEA COMPANY, INC.
Karker, M. H.
LADY ESTHER, LTD.
Busiel, Syma
Busiel, Alfred
12/31/39
50 ,5 b2.5 0
12/31/39
76,266.6s
47,700.00
19,207.8 4
56,969.96
1+2,000.00
42 ,000.00
27,000.00
84 , 999.84
64 ,999.84
400.00
700.00
400.00
99 ,462.50
95.87^.52
84 ,669 .96
84 ,400.00
120.00
120.00
85 ,119.84
85 ,119.84
1,200.00
10/31 ,/Uo
35,000.00
46 ,0 Sl.l4
81 ,081.14
5/31/uo
120,000.00
120,000.00
3/31/1+0
15,000.00
12/31/39
73 ,9^5 .63
88,945.63
100,000.00
600.00
100,600.00
80 ,000.00
550.00
80,550.00
12/31/39
12/31/39
26,000.00
95.6s0.50
60,000.00
55 ,128.00
121,680.50
12/31/39
600.00
115,728.00
2i2.9O9.SO
222,929.20
12 /31/39
10,020.00
12 /31/39
12 /31/39
75,000.00
50,000.00
34.96
125 ,034.96
50,000.00
47,191.70
300.00
97,^91.70
12 /31/39
96,000.00
96,000.00
96,000.00
96,000.00
NAME OE CORPORALIOlì
AMD OFFICERS OH
EMPLOYEES
8
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
ILLINOIS (Con.)
12 / 31/39
12 /31/39
12 /31/39
120 , 000.00
37,500.00
49 , 999.92
12 /31/39
12 /31/39
12 /31/39
-f?
350.00
350.00
25 , 350.00
100,350.00
112,850.00
75 , 3^9.92
15 ,0 0 0 .0 0
60,165.65
75 , 165.65
5 0 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
47 . 910.59
60,205.10
60,205.10
60,205.10
28 , 707.45
110,205.10
110,205.10
110,205,10
76 , 624.04
5 0 ,0 0 0 .0 0
50,000.00
100,000.00
1^3,780.71
143,780.71
0
0
'-Jsl
<0
12 /31/39
0
0
98 , 958.38
100,000.00
7 5 ,0 0 0 .0 0
0
0
;+
48 , 958 .38
LT3
5 0 ,0 0 0 .0 0
1—
7 9 ,0 0 0 .0 0
•
1/ 3 1/ 4 0
120,000.00
0
0
12 / 31/39
102 . 536.70
109 . 536.70
0
0
LORD & THOMAS, INC*
Francisco, Don
Coons, Sheldon R.
MARS INCORPORATED
Mars, Mrs. E. V,
MIAMI CORPORATION
Erminger, H, B. Jr.
W. H. MINER, INC.
Withall, A. P»
MONTGOMERY WARD & COMPANY* INC.
Avery, S. L.
Fogler, R. H.
Folsom, F. M.
MORTON SALT COMPANY
Peterkin, Daniel
NEWS SYNDICATE COMPANY, INC.
Holliss, R. C.
Flynn, F. M.
Annenberg, M,
Wilken, R. T.
NORTHWEST ENGINEERING COMPANY
Houstony L. E.
THE PEPSODSNT COMPANY
Smith, Kenneth G.
J. P. SEEBURG CORPORATION
Seeburg, J. P,
Seeburg, N. M.
Roberts, H ä T,
A* E. STALEY MANUFACTURING COMPANY
Staley, Augustus Eugene
STANDARD OIL COMPANY (INDIANA)
Seubert, Edward G.
5 0 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
41,011.55
28,603.11
91,011.55
78,603.11
82,830.02
79. ^ 3 .7 9
115,443.79
82,830.02
12 / 31/39
12 /31/39
3 6 ,0 0 0 .0 0
109 , 999*92
109 , 999.92
NAME OE CORPORATION
AID OPEICERS OR
PMPLOYEBö
CALENDAR OR
PISC a l TEAR
ENDED
Sa l a r y
COMMISSION
BONUS
OTHER
COMPEHSATION
TOTAL
ILLINOIS (Con.)
STANDARD RAILWAY EQUIPMENT COMPANY
Prank, A. A,
Arnold, D. R.
TRIBUNE COMPANY
Rose, L. H.
Macfariane, W„ E.
12 /31/39
37,000.00
26,666.67
100,000.00
75.000.00
137.000.00
101,666.67
12/31/39
100.000.
111,419.79
INDIa BA
B a l l BROTHERS COMPANY
Ball, Prank C.
SERVEL, INC.
Ruthenburg, Louis
12/31/39
75.000.00
5.00
60,000.00
27,500.00
75,005.00
10/31/U0
1,200.00
ss,700.00
KENTUCKY
PRANKPORT DISTILLERIES, INC.
Jones, Lawrenee
Brownlee, J. P.
6 /30/40
95.000.00
125.000.OS
95,000.00
125,000.08
LOUISIANA
LOUISIANA COCA-COLA BOTTLING CO. ,LTD. 12/31/39
Preeman, A. B.
Lo u i s i a n a m a t e r i a l s c o m p a n y , INC.
2 /29/40
Stevens, W. L.
71 ,352.46
6,000.00
24 ,000.00
36,259.42
IS,000.00
77 .352.46
15,570.00
93 .829.42
150.00
75,150.00
MARYLaND
ACACIA MUTUAL LIEE INSURANCE COMPANY
Montgomery, William
I2/3I/39
75.000.00
00
NAME OP CORPORATION
CALENDAR~ÔR
ÔTEËR
AND OPPICERS OR
PISCAL YEAR
SALARY
COMMISSION
BONUS
COMPSNEMPLOYEES_______'
____________ ENDED_____________________ ____________________ SATION
10
TOTa L
______
Ma RYLa ND (Con.)
COMMERCIAL CREDIT COMPANY
Duncan, A. E.
CONSOLIDATED GAS ELECTRIC LIGHT AND
POWER COMPANY OP BALTIMORE
Wagner, Herbert A.
CROWN CORK & SEAL COMPANY, INC.
McManus, Charles E.
THE HECHT COMPANY
Dulcan, C. B . , Sr.
12/31/39
85*000.,08
85 ,000.08
12/31/39
75.000. 00
12/31/39
1+17,« h
100,000. 00
75 .^17.11
100 ,000.00
1/31/40
50,000. 00
57 »137.S3
107.137.s3
30,000. 00
46 ,750.00
76,750.00
Massachusetts
DRAPER & COMPANY, INC.
Draper, Paul A.
WM. PILSNE’S SONS COMPANY
Pilene, Lincoln
Prost, Edward J.
Kirstein, Louis E.
HUNT SPILLER MANUPACTURING CORP.
Ellet, Victor W.
LEVER BROTHERS COMPANY
Countway, P. A.
UNITED SHOE MACHINERY CORPORATION
Winslow, Sidney W . , Jr.
U. S. BRANCH OP THE EMPLOYERS’
LIABILITY ASSURANCE CORP., LTD.
Stone, Edward C.
Palmer, Sydney H.
11/30/40
1/31/40
80 ,000 .00
80 ,000 .00
80 ,000 .00
80 ,000.00
80 ,000.00
80 ,000.00
12 /31/39
78 ,986,32
78,986.32
6 /30/40
30,000. 00
383 ,210.92
353.210.92
2 /29/40
90,000. 00
12 /31/39
81 ,0 0 0 .1
00
4o ,o o o a 08
90,000.00
191.336.35
1+M75.17
272 ,336.35
84 ,075.25
11
NAME OE CORPORATION
AND 0EEICER3 OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
'
SALARY
COMMISSION
BONUS
OTHER
COMPELSATION
TOTAL
MICHIGAN
BURROUGHS ADDING MACHINE COMPANY
Backus, Standisti
Doughty, A. J.
CHRYSLER CORPORATION
Chrysler, W. P,
Hutchinson, B. E.
Keller, K. T.
Zeder, Fred M.
THE DETROIT EDISON COMPANY
Dow, Alex
FORD MOTOR COMPANY
Craig, B. J.
Ford, Edsel B.
Martin, P. E.
Sorensen, Chas. E,
Wibel, A. M.
GENERAL MOTORS CORPORATION
Archer, Thomas P.
Biechler, Elmer G.
Bradley, Albert
Brown, Donaldson
Coyle, Marvin E>
Crawford, James M.
Curtice, Harlow H.
Dreystadt, Nicholas
Earl, Harley J.
Evans, Ronald K.
Fisher, Alfred J.
Fisher, Edward F.
Fisher, Lawrence P.
Fisher, William A.
Grant, Richard H,
12/31/39
12/31/39
12/31/39
85,000*00
80, 000.00
150.00
150.00
85,150.00
80,150.00
200,000.16
90,000,00
100, 000.08
85,000.08
500.00
U50.00
200.00
200,000.16
90,500.00
100,U50.08
85,200.08
&8,l67.S0
320,00
88.U87.80
12/31/39
103,999.92
1U2.999.92
168,999.96
168,999.96
78 ,000.00
103*999.92
1U2.999.92
168.999.96
168.999.96
78,000.00
12/31/39
UO.OOO.OO
U7.083.30
100 ,000.00
100 ,000.00
100 ,000.00
36,000.00
75,000.00
U50.00
350.00
250.00
U5.OOO.OO
50.000.
50.000.
75.000.
75.000.
75.000.
75,000.00
75,000.00
00
00
00
00
00
300.00
100.00
250.00
36,896.50
37,005.50
125,622.50
108,073.50
120,390.50
55,699.00
95.6U7.50
U3.5U5.50
U7.57s.50
53,301.00
27,250.00
68,016.00
90 ,088.50
16,023.00
102.02U.00
2,752.50
3,Ui6.oo
10,611.50
9.U8U.50
9.632.75
u , 629.7 5
8,025.75
3 ,UUU.oo
3. 77U.OO
U . 5U2.25
2. 69U.25
6,076.25
7.905.50
1,U i U.25
8,672.00
79.6U9.00
87.50U.8O
236.68U.00
217,908.00
230,273.25
96,32s .75
178,673.25
91,939.50
101,352.50
107.8U3.25
10U.9UU.25
1U9.092.25
173.29U.00
92,537.25
185 .9U6.00
M M E OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
12
0TH3B
Sa l a r y
commission
bonus
_________________ ,
___ ___________________
compen-
total
s a t i o n ____________
MICHIGAN (Con.)
general motors
corporation
Howard, Graeme K.
Hunt, Ormond E.
Kettering, Charles F.
Klingler, Harry J.
Knudsen, William S.
Kroeger, Frederick C.
Kunkle, Bayard D.
McCuen, Charles L.
Mooney, James D.
Prentis, Meyer L.
Sloan, Alfred P , , Jr.
Smith, John T.
Tanner, Floyd 0.
Weatherald, Charles E.
Wilson, Charles E.
GENERAL MOTORS SALES CORPORATION
Holler, William E.
THE J. L. HUDSON COMPANY
Webber, Richard H.
Webber, Oscar
Webber* James B.
HUDSON MOTOR CAR COMPANY
Barit, A. E.
S. S. KRESGE COMPANY .
Tuttle, C. B.
Williams, R. R,
METAL MOULDINGS CORPORATION
Chamberlin, C. P.
NASH-KELVINATOR CORPORATION
Mason, George W.
1+5*000.00
75.000.
100.000.
60.000.
150.000.
30.000.
35.000.
60.000.
00
00
00
00
00
00
00
75*000.00
250.00
200.00
1+00.00
150.00
35.000.
00
200.000.
00
100.000.
00
36.000. 00
**9 ,999.92
100,000.00
1450.00
1+50.00
350.00
1+8,069.00
107.637.50
132.702.50
56,21+2.00
205*192.50
1+8,886.50
52,315.00
5*+,827.00
101.860.50
1+6,270.50
108.073.50
1+6,924.50
69.705.50
125.622.50
*+,359.25
9.032.50
11.503.75
l+,250.75
16.773.75
3,993.00
1+.861+.25
3.753.75
8.661.50
3.259.50
9 ,1+81+. 50
3,71+2.50
5.803.50
10,611.50
97 ,*+28.25
191,920.00
250,1+06. 25
120 ,1+92.75
372 ,366.25
82 ,879.50
98 ,179.25
118 ,580.75
185.672.00
85,130.00
200,1+50.00
218 .008.00
86,667.00
125 ,508.92
236,581+. 00
12/31/39
60.000.
00
1 /31/40
52,166.67
26.083.33
26.033.33
76,790.50
136 ,790.50
55.000. 00
129,000.00
65.000.
i55.O83.33
91,083.33
107,166.67
00
12/31/39
81 .000 .
00
81 ,000.00
12/31/39
12 /31/39
2*+,000.00
89.250.00
89.250.00
89, 250.00
52,1+1+0.62
76 ,1+1+0 .6 2
89,250.00
9 /30/40
125,000.00
550.00
125 ,550.00
NAME 01 CORPORATION
AND OPPICERS OR
Ei'ìp±iüYEES
Ca l e n d a r o r
RISCAL YEAR
ENDED
---------------- — - - - - - — _______________ 12
SALARY
COMMISSION
________________
BONUS
OTHER
COMPENSAT ION
TOTAL
MICHIGAN (Con.)
NATIONAL BANK OP DETROIT
12 /31/39
McLucas, W. S.
NATIONAL ELECTRIC WELDING MACHINES CO. 10 /3l /40
Brueckner, Julius R.
RINSHED-MASON COMPANY
12/31/39
Ellis, Robert
SENIOR INVESTMENT CORPORATION
12 /31/39
Pisher, Pred J.
UNIVERSAL CREDIT CORPORATION
12/31/39
Kanzler-, Ernest
YELLOW TRUCK & COACH MANUPa CTURING CO. 12 /31/39
Babcock, Irving B.
50,000.00
3s,100.00
88,100.00
10^,163.03
104,163.03
141,573.49
1^1,573.^9
l 4 4 , 0 QG.0 0
i 4 4 ,o o o .o o
90,000.00
90,000.00
^ 9 , 999-92
29 ,511.46
60.00
79,571.3s
MISSOURI
ANHEUSER-BUSCH, INC.
Busch, Adolphus
D ’ARCY ADVERTISING COMPANY
Lee, A. L.
ja m e s r . k e a r n e y c o r p o r a t io n
Kearney, James R. , Sr.
La WTON-BYRNR -BRUNER INSURANCE
agency company
Lawton, Carl S.
LIGGETT & MYERS TOBACCO COMPANY
Andrews, J. W.
Carmichael, W. D.
Carroll, Ben
Pew, B. P.
Thurston, E„ H.
Whitaker, G. W.
12/31/39
75.000.
00
35,000.00
110 ,000.00
12/31/39
134,102«00
134,102.00
12/31/39
75.000.
00
20,717.20
95,717.20
12 / 31/39
132,267.18
132,267.18
12 / 31/39
35.000.
25.000.
25.000.
25.000.
25.000.
25.000.
00
00
00
00
00
00
52 .173.06
52 .173.06
52 .173.06
52 .173.06
52 .173.06
52 .173.06
87.173.06
77.173.06
77.173.06
77.173.06
77.173.06
77.173.06
MAMS o p CORPORATION
AMD OPPICERS OR
EMPLOYEES
CALENDAR OR
~
PISCAL YEAR
SALARY
COMMISSION
BONUS
TTIJT'VT',
--- M r r R_______________________ ___________ _
* OTHER
COMP PNSAT ION
~~
TOTa T
xw axloj
MISSOURI (Con.)
THE MAY DEPARTMENT STORES COMPANY
Dauby, N. L.
May, Morton J.
THE PULITZER PUBLISHING COMPANY
Pulitzer, Joseph
1/31/U0
12/31/39
lU6.7US.32
100,000.oU
7U.999.60
125.00
U6.75U.27
75 *000.00
1U6.7Ug.32
100,125.oU
196 ,753*S7
NEW JERSEY
Campbell soup company
Dorrance, Arthur C.
CONGOLEUM—NAIRN, INC.
Hawkes, Albert W.
HENRY L. DOHERTY & COMPANY, INC.
Doherty, Henry L.
Ha r m o n color w o r k s , i nc .
Chartrand, Victor J.
HOPPMANN-LAROCHE, INC.
Bobst, E. H.
INTERNATIONAL CIGa R MACHINERY CORP.
Patterson, R. L.
LEHN & PINK PRODUCTS CORPORATION
Plaut, Edward
12/31/39
100,000.00
100,000.00
200.000. 00
0 0
0 0
• »
0 0
0 0
0 0
0 00
J* K-\
ATLAS CORPORATION
Odium, Ployd 3 .
P* B a LLa n T IHE & SONS
Badenhausen, Carl W.
Badenhausen, Otto a .
BENGUE, INC.
Seltzer, Theodore
BESSEMER INVESTMENT COMPANY
Layman, David T.,Jr.
75.000.00
75#000.00
115.000. 00
113.000. 00
3/31/ko
12/31/39
8,000.00
12/31/39
79,192.95
27.192.95
80 ,000.00
80 ,000.00
91,500.00
91.500.00
80 ,000.00
80 .000.
7 /3 i/**0
12/31/39
12/31/39
100 ,000.00
100,000.00
12/31/39
17,100.00
3 0 ,9 6 5 .lU
2 8 ,6 3 g .35
76.703.U9
12/31/39
77,000.00
77. 000.00
12/31/39
1U7.151.s1
1U7.151.81
12/31/39
90,000.00
180.00
90 ,180,00
00
NAME OF c o r p o r a t i o n
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
PISCAL YEAR
ENDED
_____________ IS
salary
comission
bonus
OTHER
COMPENSAT ION
TOTAL
NEW JERSEY (Con.)
THE PRUDENTIAL INSURANCE COMPANY
OP AMERICA
D ’Olier, Pranklin
THE S INDER MAFJFACTURING COMPANY
Alexander, Sir Douglas, Baronet
UNITED STATES PIPE AND FOUNDRY CO.
Russell, N. P. S.
12/31/39
100 ,000.00
100,000.00
12/31/39
100 ,000.00
100,000.00
60,000.00
32,567.00
200,000.00
12/31/39
n 4 .4o
92 ,681.40
NEW YORK
ALLIED CHEMICAL & DYE CORPORATION
Atherton, H. P.
ALLIED STORES CORPORATION
Puckett, B. Earl
B. ALTMAN & COMPANY
Burke, John S.
AMERICAN CAN COMPANY
Baker, Herbert A.
Phelps, Henry W.
AMERICAN CYANa MID COMPANY
Bell, W. B.
AMERICAN SMELTING AND REPINING CO.
Brownell, Francis H.
Guess, H. A.
AMERICAN TELEPHONE AND TELEGRAPH CO.
Cooper, C. p.
Gifford, W. S.
THE AMERICAN TOBACCO COMPANY
Hahn, Paul M.
Hill, George W.
Hill, George W . , Jr.
Neiley, Charles P.
Riggio, Vincent
12 /31/39
125,000.00
125,000.00
1/31/uo
50,000.00
68,732.40
180.00
118 ,912.40
75,000.00
15,000.00
100.00
90.100.00
1 ,800.00
1,550.00
80.550.00
151,550.00
1 /31/40
12 /31/39
78 ,750.00
150,000.00
12/31/39
70,620.84
144 ,893*21
215,51^.05
12/31/39
77.250.00
77.250.00
12/31/39
99,999.96206,250.00
2,200.00
3,300.06
77»250.00
77.250.00
\ 1’3
102,199.96
¿Q$,ifed.OÔ
12/31/39
50,000.00
120 ,000.00
50,000.00
50,000.00
50,000.00
18 0 , 1 )9.74
230.lf9.75
^20,299.58
230.179.
^
230.179. f 1*
180.179.75
230.179.75
180 .179.75
300,299.58
180,179.7^
NAME OE CORPORATION
AND OEEICERS OR
EMPLOYEES
CALENDAR OR
EISCAL YEAR
ENDED
16
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
NEW YORK (Con.)
AMERICAN WATER WORKS AND ELECTRIC
COMPANY, INC.
12/31/39
Porter, H. Hobart
ASIATIC PETROLEUM CORPORATION
12/31/39
Wilkinson, H.
BANKERS TRUST COMPANY
12/31/39
Colt, S. Sloan
Prosser, Seward
BATTEN, BARTON, DURST INE & OSBORN, INC,• 12/31/39
Johns, Wm. H.
BEST & COMPANY, INC.
I/31/4O
Le Boutillier, Philip
CELANESE CORPORATION OE AMERICA
12/31/39
Dreyfus, Dr. Camille
Dreyfus, Dr. Henry
CENTRAL HANOVER BANK AND TRUST CO.
12/31/39
Gray, Wm. S . , Jr.
CERRO DE PASCO COPPER CORPORATION
12/31/39
Clark, Edward H.
Kingsmill, Harold
THE CHASE NATIONAL BANK OE THE CITY
OE NEW YORK
12/31/39
Aldrich, Winthrop W.
Campbell, H. Donald
CHEMICAL BANK & TRUST COMPANY
12/31/39
Houston, Erank K.
Johnston, Percy H.
COLUMBIA BRO a DCa STING SYSTEM, INC.
12/31/39
Klauber, Edward
Paley, William S.
COMMERCIAL INVESTMENT TRUST, INC.
1 2 /3 1/3 3
Dietz, Arthur 0.
Ittleson, Henry
75.020.00
240.00
40,000.00
40 ,000.00
75.000.00
75.000.00
75,260.00
80 ,000.00
5 ,570.00
3,360.00
s7.575.72
80 ,570.00
78 ,360.00
S7.575.72
66,000.00
41 ,115.00
ISO. 00
107 ,295.00
111 *574.00
111 *573 .9 S
100,159.60
75.000.00
75.000.00
100,159.60
303.32
764.15
75,303.32
75 ,764.15
175.000.00
100,000.00
75,000.00
10 0 ,000.00
6 ,180.00
7 .5 SO.OO
1,500.00
2 ,000.00
181 ,180.00
107 ,580.00
76,500.00
102 ,000.00
94,484.76
204,270.35-
9 1 ,250.00
10 0 ,000.00
110.00
SO. 00
9 1 ,360.00
100,080.00
NAME OE CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
____ H
SALARY
COMMISSION
BONUS
_________________
OTHER
COMPENSAT ION
TOTAL
NEW YORE (Con.)
CONSOLIDATED OIL CORPORATION
Gallagher, H. R.
Sinclair, E. W.
Sinclair, H. P.
CORN EXCHANGE BANE TRUST COMPANY
Frew, Walter E.
Sherer, Dunham B.
THE CRGWELL-COLLISR PUBLISHING CO.
Beck, Thomas H c
CRUCIBLE STEEL COMPANY OF AMERICA
Hufnagel, F. B.
DAILY MIRROR, INC.
Kling, Kenneth
THE DELAWARE, La CKAWANNA AND WESTERN
RAILROAD COMPANY
Davis, J. M e
THE DIAMOND ¿-LATCH COMPANY
Fair turn, W. A.
DONAHUE & COE, INC.
Churchill, E. J.
EASTMAN KODAK COMPANY
Lovejoy, Frank W.
ELECTROLUX CORPORATION
Groff, Chas. G.
ETHYL GASOLINE CORPORATION
Wehb, Earle W.
THE FIRST NATIONAL BANK OF THE CITY
OF NEW YORK
Fraser, Leon
Welldon, Samuel A.
GENERAL ANILINE & FILM CORPORATION
12 /31/39
110,000.00
100,000.00
200,000.00
910.00
910.00
290.00
110,910.00
100,910.00
200,290.00
75,000.00
75,000.00
7^0.00
980.00
75 .740.00
75.980.00
75,000.00
240.00
75»24o.00
12/31/39
12 /31/39
12/31/39
135,000.00
135.000.
00
12 /31/39
3,604.9s
64 ,282.41
8 ,8 8 8 .3 1
76,775.70
2,950.00
77 .950.00
12 /31/39
75.000.00
12 /31/39
100,000.00
100.000. 00
12/31/39
129,400.00
12 /31/39
150,000.00
11,647.60
161,647.60
I2/3I/39
10 0 .000 .
12 /31/39
80 ,000.00
44,707.48
2,635.75
1 2 7 ,3 ^3 .2 3
800.00
12 /31/39
75,000.00
75,000.00
1 ,000.00
75 .800.00
76,000.00
78.333.31
55Q.OO
78,883.31
I2/3I/39
00
M m
OF CORPORATION
CALENDAR OR
—
—
—
AND OFFICERS OR
FISCAL YEAR
SALARY
COMMISSION
BONUS
_____ gKPLOYEES__________________
ENDED_________________________________________
--------------
COMPENSATION
TOTAL
NEW YORK (Con.)
GENERAL ELECTRIC COMPANY '
1 2 /3 1/3 9
Swope, Gerard
Wilson, Charles E.
Young, Owen D.
GENERAL FOODS CORPORATION
1 2 /3 I /39
Chester, Colby M.
Francis, Clarence
Igleheart, Austin S.
Metcalf, Charles W.
Prescott, John S.
Young, Udell C.
GENERAL MOTORS ACCEPTANCE CORPORATION 1 2 /3 1/39
Schumann, John J . , Jr.
GIMBEL BROTHERS, INC.
X/ 3 1 /UO
Gimbel, Bernard F.
w,
r , grace
&
company
12/31/39
Garni, A.
Holloway, W. G.
Iglehart, D. S.
Roig, H. J %
THE GREAT ATLANTIC & P a CIFIC TEA COMPANY
(NEW JERSEY)
2/24/40
Adams, Q. C.
Brooks, 0. A.
Byrnes, W\ M.
Smith, R. ^
GUARANTY TRUST COMPANY OF NEW YORK
12/31/39
Conway, W. p.
Potter, W. C,
Stetson, E. VT.
HEARST ENTERPRISES INCORPORATED
12/31/39
Brookes, John. |L , Jr .
104 ,987.82
60.000.
00
57,487.49
40.000.
00
97,487.49
104,987.52
60.000.
00
164.987.52
57.000.
00
34.000.
699
55.S33.3O
00
164.987.52
l4l,000.00
57.000.00
126,999.96
103,833.30
93,160.80
48,000.00
49 ,862.80
4 5 .000 .
3 9 , 99 9.96
00
65.000.
00
43. 292.00
37.500.00
37.500.00
84.802.00
82,500.00
77,499.96
275.00
75 ,600.00
45 .000 .
45 .000 .
48 .000 .
4 5 .000 .
100 ,000.00
100, 000.00
100,000.00
100,000.00
100 ,000.00
100 ,000.00
75,000.00
8 5 , 0 5 0 .0 0
150.077.00
75.600.00
00
00
00
00
68.400.00
113.400.00
53.200.00
98.200.00
121,600.00
1^9,600.00
53,200.00
98.200.00
20.00
100, 020.00
100,000.00
60.00
100.060.00
20.00
100.020.00
7,284.91
6,134.03
10,911.76
107,284.91
106,134.03
85,911.76
8 5 , 0 5 0 .0 0
Na m e o e c o r p o r a t i o n
AND OEEICERS OR
EMPLOYEES
CALENDAR o r
FISCAL YEAR
ENDED
------SALARY
- - - - - - - - - - - —____________ 12
OTHER
COMMISSION
BONUS
COMPEN_____________________________ SATION
TOTAL
NEW YORK (Con.)
magazines, inc.
Berlin, R. E.
HURON ATTRACTIONS, INC.
Anderson, Marian
INGERSOLL-Ra ND COMPANY
Doubleday, George
INTERNATIONAL BUSINESS MIACHINES
CORPORATION
Nichol, Frederick W.
Watson, Thomas J.
JOHNSON & HIGGINS
Coe, Geo. V.
Davey, W. N.
LaBoyteaux, W. H.
Lowe, H. W.
JOHNS-MANYILLE CORPORATION
Brown, Lewis H.
KENNECOTT COPPER CORPORATION
Birch, Stephen
Stannard, E. T.
KING FEATURES SYNDICATE, INC.
McManus, George
Ripley, R. L.
THE LANDER COMPANY, INC.
Oestreich, Charles H.
LEINEN AND MITCHELL, INC.
Lennen, Philip W.
M. LOWENSTSIN & SONS, INC.
Veit, Howard
R. H. MACY & COMPANY, INC.
Marks, Edwin I.
Straus, Percy S.
hearst
12 /31/39
■♦9.999.92
12/31/39
5 1 .8U 7 .1 7
101 ,847.09
95.216.39
95 ,816.39
78 ,000.00
78 .000 .
12 /31/39
12 /31/39
60,000.00
100,000.00
25,000.00
342,560.17
12/31/39
87 ,425.04
87,425.04
133,323*18
87 ,425.04
68,061.62
12 /31/39
9,000.00
75,000.00
100,000.00
I2/3I/39
12 /31/39
2,600.00
12/31/39
220.00
240.00
87 ,485.04
87 ,685.04
133 ,543.18
87 ,665.04
1,350.00
78 ,411.62
i4o . 00
220.00
75 ,140.00
100 ,220.00
99 ,960.85
143,09s. 4o
99 ,960.85
143,098.4 0
60.00
260.00
12 /31/39
8 5 .1 9 7 .3 5
87 ,797*35
80 ,000.00
80 ,000.00
12 /31/39
2^,999.96
1/31/1+0
65,000.00
99,999.98
85 .000 . 00
442 ,560.17
14 ,441 .4 4
80,351.31
105,351.27
280.00
180.00
79,721.44
100,179.98
00
20
M M E OE CORPORATION
AM) OFFICERS OR
EMPLOYEES
CA L E E M E OR
EISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
NEW YORK (Con.)
12 /31/39
135,000.00
1 ,904.50
136 ,964.50
83,200.00
87,100.00
16,900.00
83,200.00
104 ,000.00
g/31/to
12/31/39
91,200.00
91,200.00
I2/3I/39
75.000.00
38,022.50
370.42
113 ,392.92
I2/3I/39
125,000.00
125,000.00
8 /31/40
1 ,840.00
75»ooo.00
76 ,840.00
3 /31 / ^
25.000.00
25,000.00
52.500.00
52.500.00
77.500.00
77.500.00
12 /31/39
125,000.00
125,000.00
12/31/39
12 /31/39
90,000.00
500.00
96,500.00
9 2 ,499.84
9 4 ,999.92
1 .240.00
3.560.00
93 ,739.-24
98 ,559.92
150,000.00
480.00
150 ,480.00
12/31/39
12 /31/39
87,500,00
100,000.00
CTvVj-4
vjivn
*0
O O
O O
O •
O
•
O O
O O
MANUFACTURERS t r u s t c o m p a n y
Gibson, Harvey D.
MARCUS LOEW BOOKING AGENCY
Eriedman, Leopold
Moskowitz, Charles C.
THE MATHISSON ALKALI WORKS (INC.)
Allen, E. M.
MoCALL CORPORATION
Warner, Wm. B.
METROPOLITAN LIES INSURANCE GOMPANY
Lincoln, Leroy A.
MORGAN STANLEY & COMPANY, INC.
Stanley, Harold
PHILIP MORRIS & COMPANY, LTD. INC.
Chalkley, 0 . H.
Lyon, A. E.
THE MUTUAL LIEE INSURANCE COMPANY
.OE NEW YORK
Houston, D. E.
NATIONAL BISCUIT COMPANY
Tomlinson, R. E.
THE NATIONAL CITY BANK OE NEW YORK
Perkins, James H.
Rentschler, Gordon S.
NATIONAL DAIRY PRODUCTS CORPORATION
Mclnnerney* Thos. H.
NATIONAL DISTILLERS PRODUCTS
CORPORATION
Jones, Charles L.
Porter, Setcn
NATIONAL THEATRES AMUSEMENT CO.,INC.
Skouras, Charles P*
Skouras, Spyros P.
122,500.00
165,000.00
12/31/39
78 ,000.00
150,000.00
150,000.00
150.000.
228 .000.
00
00
NAME OE CORPORATION
AND OEEICERS OR •
EMPLOYEES
21
CALENDAR OR
ElSCAL YEAR
SALARY
COMMISSION
ENP3P______________________________
BONDS
OTHER
COMPENSAT ION
TOTAL
NEW YORK (Con.)NESTLE1S MILK PRODUCTS, INC.
Norton, D. E.
THE NSW JERSEY ZINC COMPANY
Hayes, J. E.
NEW YORK LIEE INSURANCE COMPANY
Buckner, T. A.
NEW YORK TELEPHONE COMPANY
Kilpatrick, J.L.
THE NEW YORK TRUST COMPANY
Buckner, Mortimer N.
Gates, Artemus L.
PARAMOUNT PICTURES, INC.
Benny, Jack
Binyon, Claude Howard
Burns, Robert (Bob Burns)
Carroll, Madeline
Colman, Ronald
Cooper, Gary
Crosby, Harry L., Jr. (Bing Crosby)
Del Ruth, Roy
Fairbanks, Douglas, Jr.
Freeman, Y. Frank
Griffith, Edward H.
Hathaway, Henry
Hope, Bob
Hornblow, Arthur,Jr.
Hurley»Harold H.
LeBaron, William
Leisen, James Mitchell
Lewin, Albert Parsons
Lloyd, Frank
12 /31/39
50,000.00
33 ,7 ^ .2 0
83,744.20
12 /31/39
75 .000.00
3,056.79
78,056.79
12 /31/39
99 .999 .s4
99 ,999.84
12/31/39
86 ,333.33
1 ,840.00
88 ,173.33
90,000.00
75,000.00
5.000.00
4 ,700.00
95,000.00
79,700.00
125,000.00
76 ,958.33
77 .380.95
127,166.67
150,000.00
179,000.00
250,000.00
84,166.67
161,718.75
104 ,000.00
100 ,000.00
128 ,500.00
77 .847.17
156,000.00
116,355.00
182 ,000.00
98 ,000.00
92,375.00
108,500.00
2,500.00
127,500.00
76 ,958.33
77 ,380.95
127,166.67
194 ,747.04
187 .713.5 5
250,000.00
84,166.67
161,718.75
104 ,100.00
100 ,000.00
128,500.00
77 ,847.17
156,000.00
117.733.25
182,093.63
98,000.00
92,375.00
108 ,500.00
12/31/39
12/31/39
44 ,747.04
8 ,713.55
100.00
1,378.25
93.63
NAME OF CORPORATION
AMD OFFICERS OR
EMPLOYEES
ca len d a r
o r
FISCAL YEAR
ENDED
22
--------- - --- -- - - - - - - - - - - - - - - - - - - - SALARY
COMISSION
BONUS
______________ ________________
OTHER
COMPENSAT ION
TOTAL
MEW YORK (Con.)
PARAMOUNT PICTURES, INC.
MacMurray, Fred
Ruggles, Charles Sherman
Raggles, Wesley
Sandrich, Mark
Stanwyck, Barbara
Sturges, Preston
Thompson, Harlan
Van Every, Dale
Wellman,‘William A.
Zukor, Adolph
PERIODICAL PUBLISHERS* SERVICE
BUREAU, INC.
null, H. Gr.
Dymond, 0 . L.
Lockard, C. A.
Ory, L. E.
PHELPS DODGE CORPORATION
Cates,iiOuis S.
RADIO CORPORATION OF AMERICA
Sahnoff, David
THE READER’S DIGEST ASSOCIATION, m o.
Payne, Kenneth W.
REMINGTON RAND, INC.
Rand, J. H. Jr.
RKO RADIO PICTURES, INC.
Aherene, Brian
Berman, Pandro S.
Cromwell, John
Dieterle, William
Grant, Cary
240 ,333-33
79,666.67
23,333.30
81,500.00
92,500.00
143.000.
83,166.66
7 S.000.00
148 ,354.68
104 .000.00
00
200.00
240 ,333-33
79,666.67
23,333.30
81,500.00
92,500.00
143,000.00
83*166.66
78,000.00
148 ,354.68
104 ,200.00
12/31/39
86,283.41
80,588.67
77,677.21
96,381.89
86,283.41
80,588.67
77,677.21
96,381.89
12 /31/39
100,000.00
100,000.00
12 /31/39
100,000.00
240.00
12/31/39
36,000.00
S3,500.00
84,999.96
5.636.85
100 ,240.00
99,500.00
3/31/40
2,145.00
92 ,781.81
12 /31/39
82.500.00
161,868.35
144,166.66
103.333.33
93.750.00
82.500.00
161,868.35
l4 4 ,166.66
103,333.33
93.750.00
M M E OE CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 21
SALARY
COMMISSION
BONUS
_ ______
OTHER
COMPENSAT ION
TOTAL
NEW YORK (Con.)
REO RADIO PICTURES, INC.
Haight, George
Krasna, Norman
La Cava, Gregory
Laught on , Charle s
Lombard, Carole
McCarey, Leo
Menjou, Adolphe
O ’Brien, George
Rogers, Ginger
Stevens, George
ROCKEFELLER CENTER, INC.
Robertson, Hugh S_
SOCONY-VACUUM OIL COMPANY, INC.
Brown, John A.
Corwin, Arthur F.
STANDARD BRANDS, INC.
Sm ith, Thomas L.
Wilshire, Joseph
STANDARD OIL COMPANY OF NEW JERSEY
Sadler, E. J.
STATES MARINE CORPORATION
Mercer, H. D.
STERN BROTHERS
Riordan, William 0 .
THE TEXAS COMPANY (DEL.)
Klein, H. T.
Rieber, T.
Rodgers, W. S. S.
J. WALTER THOMPSON COMPANY
Resor, Stanley
90,500.00
82 ,500.00
175,000.00
116,170.15
I2/31/39
90,500.00
211 , 111.08
127,500.00
7^,999-99
120 ,1*00.00
219,500.02
139 .233-3^
82, 500.00
175 .000 . 00
116,170.15
211 ,111,08
127,500.00
7^,999-99
120 ,^0 0 .00
219 ,500.02
139 ,233-3^
80 , 000.00
80 ,000.00
12 /31/39
120,000.00
120 .000 . 00
75 ,100.00
75.100.00
12/31/39
75.000. 00
100 ,000.00
600.00
500.00
75,600.00
100,500.00
12/31/39
90.000.
00
90,000.00
12/31/39
105.000.
00
105,000.00
1/31/ta
50.000.
00
91.000.
123.000.
123.000.
00
00
00
25,000.00
160.OO
75,l60.00
12/31/39
12/31/39
81 . 000 . 00
91,000.00
123.000. 00
123.000. 00
81 ,000.00
24
NAME OF CORPORATION
AND OEEICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
OTHER
SALARY
COMISSION
BONUS
COMPENSATION
TOTAL
NEW YORK {Con.)
TWENTIETH CENTURY-FOX FILM CORP.
Ameche, Don
Baxter, Warner
Brown, Harry Joe
Colbert, Claudette
Cummings, Irving
Day, Richard M.
Del Ruth, Roy
Dwan, Allan
Faye, Alice
Fonda, Henry
Ford.J ohn
Goetz, William
G-riffith, Raymond
Henie, Sonja
Johnson, Nunally
Jolson, A 1
Kent, S. R.
King, Henry
Koenig, William
Lanfield, Sidney
Lang, Walter
Mac Gowan, Kenneth
Mar key, Gene
Me Guire, Wm. Anthony
Power, Tyrone
Ratoff, Gregory
Schenck, Joseph M.
Scott, Randolph
Seiter, William
Stone, John
Temple, Shirley Jane
12/31/39
128 ,583-33
101 ,923.06
127,500.00
150 .079.50
137.70 5 .33
76.500.00
110,490.94
. 109,125.00
140.291.66
103,246.17
235,000.00
128.55 3.33
101,923.06
127,500.00
150.079.50
137.708.33
1 0 2 ,000.00
104.625.00
244.166.67
25.s33.33
5,000.00
76.500.00
110,490.94
109.125.00
140,291.6 6
103,246.17
235.000. 00
102.000. 00
104.625.00
249,166.67
25.233.33
1 2 8 .125.00
128.125.00
179 .370.00
155 ,233-33
76.500.00
112 875.00
77,083.34
179.370.00
155.233.33
76.500.00
112.875.00
77.083.34
102.000. 00
.
1 0 2 ,000.00
97 ,275.00
97.275.00
96.708.33
151.250.00
109.375.00
113.233.33
96.702.33
166,250.00
80.208.33
119,000.00
76,500.00
116.570.50
15,000.00
109.375.00
113.233.33
80 .208.33
119.000. 00
76.500.00
116.570.50
KÄME OE CORPORATION
AND OEEICSRS OR
EMPLOYEES
CALENDAR OR
EISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
________ _____
OTHER
COMPENSAT ION
25
TOTAL
NEW YORK (Con.)
TWENTIETH CENTURY-FOX FILM CORP.
Tugend, Harry
Wurtzel, Sol
Zanuck, Darryl F,
UNDERWOOD ELLIOTT FISHER COMPANY,
DELAWARE
Wagoner, P. D.
UNITED ARTISTS CORPORATION
Silverstone, Maurice
UNITED STATES RUBBER COMPANY
Adamson, Percy
Adamson, Percy (Trustee)
Coughlin, E. J.
Davis, F. B. Jr.
Humphreys, H. E. Jr.
Needham, T. J.
Roberts, Elmer
Smith, Herbert E.
Tompkins, L. D.
UNITED STATES STEEL CORPORATION
(NEW JERSEY)
Stettinius, E. R. , Jr.
Taylor, Myron C.
Voorhees, E. M.
R. t . Va n d e r b i l t c o m p a n y , i n c .
Somerville, A. A.
Vanderbilt, R. T.
WALLERSTEIN COMPANY, INC.
G-raf, William
Wallerstein, Leo
WARNER BROS. PICTURES, INC.
Bacon, Lloyd
70,500.00
172,500.00
255 ,000.00
76 ,500.00
17S,500.00
255 ,000.00
12/31/39
108 ,000.00
480.00
108 ,480.00
12/31/39
1^5,500.00
145 ,500.00
12/31/39
9,000.00
97.2II.72
97.319.55
82 ,618.75
36,000.00
150,000.00
36,000.00
36.000. 00
36.000. 00
48 .000 . 00
48 .000 . 00
59 .400.00
82.618.75
82.618.75
99 .142.50
99 .142.50
220.00
200.00
106,211.72
97 ,319.55
118 ,798.75
150,220.00
95 »620.00
118 ,838.75
118,838.75
147,362.5c
147,342.50
5,600.00
2 ,100.00
5,600.00
105,600.00
98 ,100.00
105,600.00
180.00
220.00
220.00
220.00
220.00
12/31/39
100 ,000.00
96,000.00
100 ,000.00
12/31/39
278 ,486.11
200 ,000.00
278 ,486.11
200 ,000.00
81 ,000.00
94 ,000.00
81 ,000.00
94 ,000.00
196,000.00
196,000.00
12/31/39
s/31/uo
MME OF CORPORATI Olì
AÏJD OFFICERS OH
EMPLOYEES
CALENDAR OR
FISCAL YEAR
E 3© E D
--------------------- ---- ----------------------- —
SALARY
COMMISSION
BONUS
------------------ ---------------
______ ___ 26
OTHER
COMPEN—
SATION
TOTAL
NEW YORK (Con.)
WARNER BROS. PICTURES, IRC.
Blanke, Henry
Boyer, Charles
Brent, George
Cagney, James
Curtiz, Michael
Davis, Bette
Dieterle, Wilhelm
Flynn, Errol
Forbstein, Leo
Foy, Bryan
Hellinger, Mark
Hopkins, Miriam
Keighley, William
Litvak, Anatole
Lord, Robert
Oberon, Merle
O ’Brien, Pat
Raft, George
Hains, Claude
Robinson, Casey
Robinson, Edward G.
Steiner, Max
Wallis, H. B.
Warner, Albert
Warner, H. M.
Warner, J. L.
VITAGRAPH, INC.
Einfeld, S. C.
Sears, Gradwell L.
92 ,750.00
100,000000
110.833.33
368.333.33
183.900.00
129.750.00
78.500.00
213.333.33
79.500.00
138.750.00
80.625.00
102.500.00
117.083.34
150.000.
00
140.450.00
85.000. 00
164,666.67
138.000.
00
95.000. 00
92.750.00
100.000.
00
110.833.33
368.333.33
183.900.00
129.750.00
78.500.00
213.333.33
79.500.00
138.750.00
80.625.00
102.500.00
117.083.34
150.000.
00
140.450.00
85 .000 .
00
164,666.67
138.000.
00
95.000.00
99-.833*33
255*000.00
79.500.00
265.000.
92.750.00
132.500.00
159.000.
8/31/40
85.650.00
85.650.00
99,833.33
13.250.00
26.500.00
26.500.00
255.000.
79.500.00
265.000.
106.000.
159.000.00
185,500.00
13.250.00
13.250.00
98.900.00
98.900.00
00
00
00
00
00
NAME OI CORPORATION
AMD OPPICERS OH
EMPLOYEES
CALENDAR OR
RISCAL YEAR
ENDED
il
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
NEW YORK (Con.)
WARNER BROS. CIRCUIT MANAGEMENT
CORPORATION
Bernhard, Joseph
WESTERN ELECTRIC COMPANY, INC.
Bloom, Edgar S.
THE WESTERN UNION TELEGRAPH COMPANY
White, R. B.
E. W. WOOLWORTH COMPANY
Deyo, C. W.
Weber, R. W.
S / ^ l / k O
I2 A 1 A Q
I2 /3 1/ 3 9
98 ,900.00
125 ,400.00
26,500.00
90,000.00
480.00
90 .480.00
S5 .ooo.oo
2,015.00
37.015.00
12/31/39
194 , 637.07
S2 .1S7.8 0
194,6S7.O7
S2 .1S7 .S0
NORTH CAROLINA
R. J. REYNOLDS TOBACCO COMPANY
Williams, S. Clay
12/31/39
100,000.00
100 ,000.00
OHIO
CHAMPION SPARK PLUG COMPANY
Stranahan, Prank D.
1 2 /3 1/ 3 9
120.000.
170.000.
Stranahan, Robert A.
CLOPAY CORPORATION
Johnson, Sam J.
EATON MANUPACTURING COMPANY
Eaton, J. 0.
THE ELECTRIC AUTO-LITE COMPANY
Martin, Royce G.
THE GLIDDEN COMPANY
Joyce, Adrian D.
THE GOODYEAR TIRE & RUBBER COMPANY
Litchfield, P. W.
00
00
120,000.00
170,000.00
12/31/39
1 2 /3 1/ 3 9
I2 /3 1/ 3 9
IO/3 1 /UO
1 2 /3 1/ 3 9
15.000.
00
45.000. 00
100,000.0s
96.000.
s7.500.00
00
77,953.36
92 ,953.36
53.500.00
98,500.00
300.00
100,300.08
40.00
96,040.00
87,500.00
28
NAME 01 CORPORATION
AND 01PICERS OR
EMPLOYEES
CALENDAR OR
1 ISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
OHIO (Con.)
THE KROGER GROCERY & BAKING COMPANY
Bracy, Harry W.
Morrill, Albert H.
THE 1 . AND R. LAZARUS AND COMPANY
Lazarus, Pred, Jr.
La zarus, Simon
THE MIDLAND STEEL PRODUCTS COMPa NY
Kulas, 1 . J.
THE NATIONAL Ca SH REGISTER COMPANY
Deeds, Edward A.
OWENS-ILLINOIS GLASS COMPANY
Levis, Wm. E.
THS PLAIN DEALER PUBLISHING COMPa NY
McCarrens, John S.
THE PROCTER & GAMBLE COMPANY
Deupree, R. R.
Erench, H. G.
THE STANDARD OIL COMPANY (OHIO)
Holliday, W. T.
THE YOUGHIOGHENY & OHIO COAL COMPANY
Brown, Robert Y.
12/31/39
25,000.00
S3 .397.^3
196,993.1+6
63 .397-^3
171,993.1+6
I/3I/UO
100,000.00
100,000.00
100,000.00
100,000.00
96,261.75
96.261.75
12 /31/39
12 /31/39
75,000.00
25,000.00
100,000.00
125,000.08
25,000.00
150,000.08
60,000.00
111 ,276.25
171.276.25
12/31/39
5/31/lK)
6/30/ko
100,000.00
00,000.00
150,000.00
85,000.00
50,000.00
25,000.00
12/31/39
81 ,000.00
81 ,000.00
12/31/39
88,030.QU
88,030.9*1
OKLAHOMA
E. H. MOORE, INC.
Moore, E. H.
PHILLIPS PETROLEUM COMPANY
Phillips,. Prank
WARREN PETROLEUM CORPORATION
Warren, W. K.
12/31/39
100,000.00
100,000.00
100,000.00
100,000.00
81 ,600.00
81 ,800.00
12/31/39
6/30/U0
M M E OE CORPORATION
AED OFFICERS OR
_
3iMPLOYEES.
CALETEAR OR
fiscal year
ENDED
SALARY
COMMISSION
BONUS
— ._________________ ;_______
OTHER
COMPENSa t io n
Í2.
TOTAL
PENNSYLVANIA
ALUMINUM COMPANY OE AMERICA
12 /31/39
Davis, Arthur V.
ARMSTRONG- CORK COMPANY
12/31/39
Prentis, K. W.
BETHLEHEM STEEL CORPORATION
12/31/39
Schwab, C. M.
BETHLEHEM STEEL COMPANY (DELAWARE)
12/31/39
Mackall, Paul
BETHLEHEM STEEL COMPANY (PENNSYLVANIA) 12/31/39
Bent, Q.
Buck, C. A.
Grace, E. G.
McMath, R. E.
Shick, E. A.
Wakeman, S. W.
Ca RNEGIE-ILLINOIS STEEL CORPORATION
12/31/39
Perry,J. L.
COPPERWELD STEEL COMPANY
12 /31/39
Bramer, S. E.
EELS & COMPANY
12/31/39
Robson, A, Roy
GREAT LAKES STEEL CORPORATION
12/31/39
Pink, George R.
HERSHEY CHOCOLATE CORPORATION
12/31/39
Murrie, Wm. E. R.
HUBBARD AND COMPANY
12/31/39
Hubbard, John W.
JONES & LAUGHLIN STEEL CORPORATION
12/31/39
Lewis, H. E.
McCLOSKEY AND COMPANY (DELAWARE)
12/31/39
McCloskey, M. H. , Jr.
112,650.00
112,650.00
100,000.00
100,000.00
135,000.00
135,000.00
90,000.00
90.000.
90.000. 00
180 ,000.00
60.000.
60.000.
80 .000 .
00
00
00
00
27,364.00
117,364.00
27.364.00
27.364.00
91 .224.00
24 .332.00
24.332.00
28.858.00
117.364.00
117.364.00
271 ,224*00
84,332.00
84 ,332*00
108.858.00
77.909.58
I3O.OO
78,039.5s
25,000.00
71 ,340.53
96 ,340.53
30,000.00
101 ,684.76
131 ,684.76
50,000.00
37 ,500.00
87 ,500.00
91,550.00
91 ,550.00
100,000.00
100,000.00
118,125.00
118,125.00
104 ,000.00
104 ,000.00
mn
M i l OF CORPORATION
AND OFFICERS OR
EMPLOYEES
Ca l e n d a r o r
PISCa L y e a r
ENDED’
JO
SALARY
COMMISSION
BONUS
OTHER
COMPEN
SATION
TOTAL
PENNSYLVANIA (Con.)
M c Ke e s p o r t t i n p l a t e c o r p o r a t i o n
Parkins, G. V.
THE MIDVALE COMPANY
Prevert, Harry L.
G. C. MURPHY COMPANY
Mack, J. S.
NATIONAL STEEL CORPORATION
Pink, George R.
THE PENNSYLVANIA RAILROAD COMPANY
Clement, ML, W.
THE PHILADELPHIA NATIONAL BANK
Wayne, Joseph Jr.
PHILADELPHIA STORAGE BATTERY COMPANY
Buckley, James T.
PITTSBURGH PLATE GLASS COMPANY
Brown, Clarence M.
Clause, Robert L.
Higgins, Harry B.
Wherrett, Harry S.
J. J. POCOCK, INC.
Pocock, J. J.
Ja c o b s i e g e l c o m p a n y
Siegel, Jacob
SMITH, KLINE & FRENCH LABORATORIES
Kline, Cr Mahlon
SOUTHWEST SUPPLY COMPANY
Bell, John A., Jr.
tasty baking company
Baur, Phil J.
Morris, H. C.
THE UNITED GAS IMPROVEMENT COMPANY
Zimmerman, John E.
12/31/39
75 ,833 .1+2
75 *833.42
12/31/39
30,000.00
45,000.00
30,000.00
70 ,435.03
240.00
75 ,240.00
12/31/39
100 ,435.03
12/31/39
50,000.00
37 ,500.00
500.00
88,000.00
100 ,000.00
605.00
100,605.00
100 ,008.00
8 ,334.00
108 ,342.00
12/31/39
12/31/39
12/31/39
23,000.00
75 .432.60
52,432.60
12/31/39
93 ,331.28
84 ,698.49
84 ,704.41
115,804.17
12/31/39
16 ,000.08
62,644.33
220.00
78 ,864.41
1/31/1+0
90.000.
00
10 ,000.00
100 ,000.00
30.000.
00
52,200.00
82 ,200.00
12/31/39
12/31/39
77,062.00
77,062.00
86.576.61
86.576.61
86.576.61
86.576.61
12/31/39
12 /31/39
90.000.
00
90,000.00
NAME 0? CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
SALARY
COMMISSION
BONUS
OTHER
COMPENSAT ION
31
TOTAL
PENNSYLVANIA (Con.)
UNITED STATES STEEL CORPORATION
OF DELAWARE
Fairless, B. F.
JOHN W a Na Ma KER PHILADELPHIA
Shipley, C. R.
WESTINGHOUSE ELECTRIC & MANU
FACTURING COMPANY
Bucher, George H.
Robertson, A. W.
12 /31/39
99 *999*96
99.999.96.
1/31/U0
60,000.CO
33 ,808.21
70,110.SO
101,283.30
25*911.00
3i+,54s.oo
93 ,808.21
12/31/39
1,750.00
1,600.00
97,771.80
137,^31.30
RHODE ISLAND
Ca RR-FULFLEX, INC.
Carr, Arthur H.
7/31/to
79.ls9.60
79,189.60
TENNESSEE
COCA-COLA BOTTLING COMPANY
(THOMAS) INC.
Hunter, George T.
12/31/39
91,120.05
91,120.05
TEXAS
ANDERSON, CLAYTON & COMPANY
Schmid, T. 0 .
POLLOCK PAPER & BOX COMPANY
Jacobs,L. L.
WEST PRODUCTION COMPANY
West, J. M.
7 /31 /1«
172,156.50
172,156.50
12 /31/39
50,000.00
55,627.91
105,627.91
6,250.00
81,250.00
12/31/39
75,000.00 '
NAME OF CORPORATION
AND OFFICERS OR
EMPLOYEES
CALENDAR OR
FISCAL YEAR
ENDED
_____ -_______ 22
SALARY
COMMISSION
BONUS
OTHER
COMPENSATION
TOTAL
VERMONT
CHICAGO STOCK YARDS COMPANY
Prince, Frederick H.
12 /31/39
100 ,000.00
100 ,000.00
VIRGINIA
UNIVERSAL LEAP TOBACCO COMPANY, INC.
Edwards, K. R.
12/31/39
87.U2O.65
87,U20.65
WEST VIRGINIA
STERLING PRODUCTS (INCORPORATED)
Diebold, A. H.
Weiss, W. E.
WEIRTON STEEL COMPANY
Weir, Ernest, T.
12/31/39
100.00 125.100.00
100.00 125.100.00
125,000.00
125,000.00
12 /31/39
^3,750.00
32,SOO.OO
76 ,550.00
WISCONSIN
KIMBERLY-CLARK CORPORATION
Sensenbrenner, P. J.
12/31/39
75 .735-00
75 .735.00
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, July 25, 1941#
Press Service
No. 26-74
Commissioner cf Customs Bas.fi It rri. today issued the follovang statement
showing imports of dlstll^ . l i q u 9i
r ^ and vrines, and duties collected thereon,
cov2&i£$ >^1
comparative figures for the months of.
February *
and the ©i-ght-month* periods ending
frto-u, I
if at/, and February, 3r94v, respectively:
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded Warehouses
a t beginning
Total imports (Free and Dutiable)
A vailable for Consumption
Entered into Consumption (a)
S n orted from Cue-turns ~StE§tody— *
Stock in Customs Bonded Warehouses
a t end
STILL WINES (Liquid G allons):
Stock in Customs Bonded Warehouses
at beginning
Total imports (Free and Dutiable)
A vailable for Consumption
Entered into Consumption (a)
Exported from Quet^ms-GuBtody—
Stock in Customs Bonded Warehouses
at end
SPARKLING WINES (Liquid Gellons) :
Stock in Customs Bonded Warehouses
at beginning
Total imports (Free and Dutiable)
A vailable fo r Consumption
Entered into Consumption (a)
Exported from Ousts ms One-tody
Stock in Customs Bonded Warehouses
at end
DUTIES COLLECTED ON?
D is t ille d Liquors
S t i l l Wines
Sparkling Wines
Total Duties Collected on Liquor
Tot^l Duties CoH^ct^fikon
May
1941
April
1941
8,216,116
920,042
9,136,158
1,535,273
8,282,976
990,863
9,273,839
1,052,391
..
6,769,120
1,592,688
8,361,808
866,479
-1■ •-- -m«fti
*
6,976,713
10,999,187
17,975,900
10,367,601
— —-—if|'4tY
7,600,885
8,216,116
7,495,018
7,590,885
7,495,018
1,806,644
239,389
2.046.5p
157, 590
-a-
1,690,825
250,586
1,941,411
134,413
1,699,267
385, 307
2,084,574
305,907
1,526,805
2,183,197
3,710,002
1,817,808
1^51,290
3^870,489
5,021,779
3,236,857
1,888,443
1,806,644
1,778,500
1,888,443
1,778,500
222,342
6,888
229,230
7,077
** *•
221,356
474,799
395,772
8,288
37,842
80,949
229, 644
512,641
476,721
7,204
39,393
252,481
"~S8‘-g--- ... ..2*087..
321,014
695,459
1,016,473
542,570
222,153
222, 342
473,227
222,153
473,227
$ 3,785,354 $ 2,603,948
151,121
121,668
20,820
20,808
Î 3,957,295 9 2, 309,211
$ 2,138,710
248,886
117,538
2,505,134
$25,532,192
1,650,615
746,094
$ 27,928,901
$ 26,140,288
2,741,835
1.619,460
$ 30,501,583
May
1940
11 months ending May 31
1941
1940
4,137,917
13,994,731
18,132, 648
10,557,872
T 179-,758"—"
OonMo^tties
TOTAIj^sdTtES COLZ&&
ca 3LjLected on Ijjj
*
w i tla d L ro w E Q .3
fo r
s h ip
s u p p lie e
sjn< 3. d i p l o m a t i c
use.
m is
fi*
ßL
S '
3. £ |
s*
R «21
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, July 25 , 1941 .
Press Service
No.26-74
Commissioner of Customs W. R. Johnson today issued the following statement
showing-• imports of distilled liquors and wines, and duties collected thereon,
covering the month of May, 1941 * with comparative figures for the months of May, 194C
and April 1941* and the eleven-month periods ending May, 1940, and May, 1941,
respectively.
May
April
May
11 months ending May 31
1941
1940
1941
1940
1941
DISTILLED LIQUORS
(Proof Gallons);
Stock in Customs
Bonded Warehouses
at beginning.....
8 ,216,116
8,282,976
6 ,769,120
6 ,976,713
4 ,137,917
Total Imports (Free .
and Dutiable)....
920,042
990,863
1 ,592,688
10 ,999,187 13,994,731
Available for Con- .
sumption..... .
9,136,158
9 ,273,839
8 ,361,808
17 ,975,900 18 ,132,64 S
Entered into Con—
sumption (a).....
1,535,273
1 ,052,391
366,479
10 ,367,601 10 ,557.872
Stock in Customs
Bonded Warehouses
at e n d . +
8 ,216,116
7 ,600,885
7 ,495,018
7,590,885 7 ,495,018
S7ELL WINES (Liquid
Gallons);
Stock in Customs
Bonded Warehouses
at beginning.....
1 ,806,644
1 ,690,825
1 ,699,267
1 , 526,805 1, 151,290
Total Imports (Free
and Dutiable)...*
250,586
239,389
385,307
2,183,197 3 ,870,489
Available for Consumption..... ...
2 ,046,033
3 ,710,002 5,021,779
1 ,941 ,4II
2 ,084,574
Entered into Consumption (a).....
157,590
305 ,9 OT
134,413
1 ,817,808 3,236,857
Stock in Customs
Bonded Warehouses
at end........ .
1 ,778,500
1 ,888,443
1 ,806,644
1 ,888,443 1 ,778,500
SPARKLING WINES
(Liquid Gallons);
Stock in Customs
Bonded Warehouses
at beginning.....
222,342
221,356
395,772
474,799
321,014
Total Imports (Free
and Dutiable)..••
6,888
8,288
37,842
80,949
695,459
Available for Con«*
sumption.••••••••
229,230
229,644
476,721 1 ,016,473
512,641
Entered intoCon—
sumption (a)....*
7,077
7,204
252,4SI
39,393
542,570
Stock in Customs
Bonded Warehouses
at end.••••••••..
222,342 __ 473*227
222,153
222,153
473,227
Distilled Liquors
42 ,603,948 42,138,710
$25, 532,192 $ 26^ 40,#38
$3 ,785,-354
Still lines
151,121
121,668
248,886
1 ,650,615
2,741,835
Sparkling Wines
^sparkling
20,820
20,808
117,538
746 "084
1&L9 346Q
Total.duties Collectedro ncn
$2,309,211 $2,505,134
$27 ,928,901 $3Q£C1 , 583
on Liquor
$ 3,9 5 ',¿ 9 5
(a) including withdrawals for ship supplies and diplomatic use*.
TREASURY DEPARTMENT
Washington
,
W 0 /r
FOR IMMEDIATE RELEASE,
Saturday, July 26 . 19Z1 .
The Treasury today announced the denial of applications for
licenses authorizing the purchase of Silesian Holding Company stock and
loan to Silesian—American Corporation by European interests*
-OoO-
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE.
■Saturday, July 26. 1941.
The
Treasury
Press Service
No. 26-75
today announced the denial of applications
for licenses authorizing the purchase of Silesian Holding
Company stock and a loan to Si.Lesian-American Corporation
by European interests.
TREASURY DEPARTMENT
Washington
FOR RELEASE, .MORNING PAPERS
Tuesday, July 29, 1941.
7 7 2 8 7 1 1 --------------------------
Press Service
No. 26-76
xhe Treasury announced today it had formulated plans for
the consolidation of its emergency work-relief accounting and
disbursing activities in the field in order to effect the
economies contemplated in the Emergency Relief Appropriation
Act of 1942.
into 22 regional offices and the termination of the services
of approximately 974 employees, to be effected by next
September 30.
ihe accounting and disbursing work of the department
incident to the curtailed emergency relief program will be
conducted in the folloviring cities, each office serving the
States listed below it:
Massachusetts
Connecticut
Maine
Vermont
New Hampshire
Rhode Island
NEW YORK, NEW YORK
New York
New Jersey
DALLAS, TEXAS
Texas
Oklahoma
Arkansas
KANSAS CITY, MISSOURI
Kansas
Nebraska
Missouri
MINNEAPOLIS, MINNESOTA
Minnesota
North Dakota
South Dakota
-
PHILADELPHIA, PENNSYLVANIA
Pennsylvania
District of Columbia
(WPA Projects only)
Maryland
Delaware
WASHINGTON, D, C,
District of Columbia
(Exclusive of WPA Projects)
RICHMOND, VIRGINIA
~ Virginia
~
North Carolina
South Carolina
ATLANTA, GEORGIA
Tennessee
Georgia
Florida
Kentucky
CLEVELAND, OHIO
Ohio
West Virginia
CHICAGO, ILLINOIS
Illinois
Michigan
Indiana
Iowa
Wisconsin
NEW ORLEANS, LOUISIANA
Louisiana
Mississippi
Alabama
2
-
DENVER, COLORADO
Colorado
Wyoming
New Mexico
HELENA, MONTANA
Montana
SALT PAKE CITY, UTAH
“ Utah
~~
Idaho
SEATTLE, WASHINGTON
Washington
PORTLAND, OREGON
Oregon
SAN FRANCISCO, CALIFORNIA
Northern California
Nevada
LOS ANGELES, CALIFORNIA
Southern California
Arizona
SAN JUAN, PUERTO RICO
""Puerto Rico
ST, THOMAS, VIRGIN ISLANDS
Virgin Isiands
JUNEAU, ALASKA
Alaska
A regional office of the Division of Disbursements, Treasui
Department, will be established in Richmond, Virginia, and the
function of disbursement formerly exercised in Richmond; Columbi
South Carolina; and Raleigh, North Carolina, by the United State
- 3 -
Treasury-State Disbursing Offices of the Division of Disbursement
will be transferred there.
Becau se o f a r e d u c t i o n i n the Work P r o j e c t s A d m i n i s t r a t i o n
program, and a c o r r e s p o n d i n g r e d u c t i o n i n the a p p r o p r i a t i o n to
enable the T r e a s u r y to c o n t in u e the a c c o u n ti n g and d i s b u r s i n g
work i n c o n n e c tio n w i t h the program f o r the e n su in g f i s c a l y e a r ,
i t w i l l be n e c e s s a r y to t e r m i n a t e the s e r v i c e s o f a p p r o x i m a t e l y
760 employees i n the emergency T r e a s u r y a c c o u n ts o f f i c e s and 2 1 4
in the emergency T r e a s u r y d i s b u r s i n g o f f i c e s .
In making t h e s e r e d u c t i o n s , a l l
s t a t e o f f i c e s w i l l be
r e q uire d to c o n t r i b u t e p r o p o r t i o n a t e l y to the r e d u c t i o n as n e a r l y
as p o s s i b l e .
R ed u c tio n s w i l l be made on the b a s i s o f e f f i c i e n c y ,
g i v i n g due c o n s i d e r a t i o n to r e l a t i v e need f o r work, dependency,
length o f s e r v i c e , and v e t e r a n s ' p r e f e r e n c e .
Employees e l i g i b l e
fo r r e t e n t i o n upon b a s i s o f r e l a t i v e e f f i c i e n c y , need f o r work,
dependency, l e n g t h o f s e r v i c e , or v e t e r a n s ' p r e f e r e n c e , 'w ill be
given an o p p o r t u n i t y to i n d i c a t e whether t h e y d e s i r e . ' t o be
t r a n s f e r r e d to the r e g i o n a l o f f i c e s i n t h e i r r e g i o n s .
- o 0 o
TSBASOHX D8PARTHEKT
Washington
R)H 8KLEAS2, W B X B B HBWSFAPSBS
Press Servios
JMAr,
7/28/a
is(p~77
t o r $100,000,000, or there&beuts, of 91-day Treaaury billa, to bo datad July 30
*ad to «atara Oqfcober 29, 1941, which «ara offered on July 2 5 , «are opened at
the Federal Beeenre B&nka en J u ly 28*
The detalla of thia laaue are aa folleves
Total applied for - $266,617,000
Total accepted
- 100,015,000
Bango of accepted bldai
High
lam
Ararage prlee
* 100.
99*972
«* 99*976
JSquivalent rata approxiaately 0.111 peroent
•
*
•
0.094
*
TREASURY DEPARTIRENT
Washington
FOR RELEASE, LOANING HES8SPAPERS
Tuesday, July 29, 1941.
-----------7/20731 --- ^
Press Service
No. 26-77
Tiie Secretary of the Treasury announced last evening that the
wi optsdn tenders for $100,000,000 or thereabouts, of 91-day Treasury bills,
be daoed July 30, and to mature October 29, 1841, which were
offered on July 25, were opened at the Federal Reserve Banks on
Mht\)T Hi
‘■-'O•
•
The details of this issue are as follows:
O.Ulpm0,0%
aeMpUd)
Total applied for - $$%617*t}00
Total accepted
100,015,000
Range of accepted bids:
High
- 100.
Low
- 99.972 Equivalent rate approximately 0 .111 nercent.
Average
'
x
price
- 99,976
"
"
if
0.094
u
(29 percent, of tne amount bid for at the low price was accepted]
o 0 o
17 -
Smuggling King broken Uo
'¿rr—
The Enforcement Division of the Alcohol Tax Unit, in protecting
the revenue on alcoholic beverages, also had a very busy year,
O/stW
Mr. Irey's report shows*
Illicit stills numbering|1 ,8 24
were
v
r
seized, 26,010 arrests made and 6 ,898,178 gallons of mash confiscated.
mmimm jt
11
cooperation with the Customs Service and the Royal Canadian
Mounted Rolice, the Alcohol Tax Dnit, after persistent sleuthing,
uncovered one of the largest illicit liquor conspiracies ever organized
in this country*
This was the Hyman Drank—Abe Moss—Hjman Rrojansky
gang, which operated like a well oiled business, having distilleries
in Chicago, fleets of trucks operating between Chicago and Detroit,
ana from Chicago into Ohio, Indiana and Southern Illinois, and
smuggling into Canada.
the Government
So huge were its operations that it defrauded
of #2, 500,000 in excise taxes, and the Dominion of
Canada out of large excise and war taxes.
all caugRt and sent to prison.
entered pleas of guilty.
The leaders of the gang were
More than twenty of their subordinates
The dragnet caught some thirty-five persons.
Tied in with rum running was a fur smuggling conspiracy, which was also
uncovered and those engaged in it sent to jail.
-QUO-
- 16 -
the cases of the Secret Service brought to trial.
Big Income Tax bvaders
\
reporting for the Intelligence Unit of the Bureau of Internal
m mmmn
f-evenue, over which he also presides, Mr. Irey found that 172 persons
from all walks of life were indicted for evasion of income and other
taxes; 192 individuals were tried during the year and 156 were con
victed.
In addition to prison sentences, fines aggregating *300,000
were assessed.
Additional taxes and penalties totaling 433,810,418.30
were recommended for assessment in cases investigated during the year.
^Criminal proceedings were instituted against 1 5 .other individuals
on miscellaneous charges, due to investigations made by the Intelligenc
Unit.
Seventeen individuals, some of whom were indicted prior to the
present fiscal year, were tried and 16 were convicted.
^Mo
outstanding cases
were
those of Joseph M. Schenck, one of the most important figures in the
moving picture industry, and George Scalise, a powerful figure in
organised labor.
Both were charged with income tax evasions, Schenck
of *250,000 for several years, and Scalise of 4104,682 for 1937 to
1939.
Schenck stood trial, with his principal accountant, Joseph H.
Moskowitz, was convicted and sent to prison for three years and to
pay a fine of 420 ,000. Moskowitz also was convicted, and went to
prison for a year and a day, and was fined $.10 ,000.
Scalise pleaded
guilty and was sent to prison for three and one half years.
15 -
j Losses to the public through the acceptance of counterfeit coins
other than slugs during the year totaled U 9 >857,56 against 451 ,737.42
the previous year.
[ i new form of counterfeiting was uncovered by the Secret Service
when Agents in New York arrested Louis Carlo Avila, Angelo M. Castellano,
Pompey Thomas be Carolis and Ralph Joseph Zirpoli for conspiring to
make counterfeit 250 bepartment of Agriculture food stamps.
The
plates were seized TP#wMMii^filMiihiiriiMiwpiificaMtr before the printing began.
iForged Government checks is another racket that the Secret
service is devoting much attention to, this report discloses.
Last
year M , l 6 l such cases were investigated, as a result of which reimburse
ments were obtained ana other collections and recoveries were obtained
for the Government in the amount of 4248,7^1
Insert p 3È6
A recent case of f o r g e d Government checks resul
re s u l t e d in the arrest
of Samuel N e w t o n Hedges,
f i n i shing
aged 6 2 , s u p e r i n t e n d e n t o f the paint and
shop, Senate Office Building,
by the S e c r e t Service,
since 1 9 1 7 . A n investigation
at the i n s t i g a t i o n o f S e nator B y r d of Virginia,
e s t a b l i s h e d the fact that in 1 9 3 4 H e d g e s b e g a n to place fictitious
names on the payroll of his
shop,
se c u r i n g their m o n t h l y checks and
forging their names to the same, f h e
total amount of the peculation
involved 361 checks and $ 4 1 ,7 9 0 .8 5 . H e d g e s ad m i t t e d guilt, and is out
on bond,
aw a i t i n g actio
~
- .14 -
1 Second in importance to making and passing counterfeit money is
the growing use of slugs in coin-operated machines.
"This form of
American business is suffering stupendous monetary losses from a growing
evil akin to counterfeiting, 11 Mr. Irey said.
Millions of worthless coin
slugs have been used to operate vending machines.
stores are the victims of this widespread fraud.
Owners of small retail
Telephone and traction
companies, cigarette vendors and restaurants « « M f a heavy annual loss.
The slug racket, Mr. Irey's report stated has resulted in the startling
yearly loss of £ 5*000,000.
took years of effort before the Secret Service could obtain an
interpretation of the counterfeiting laws which would permit Federal
prosecution of slug makers and dealers.
In December, 1940, Max tasserman,
a slug dealer, was convicted in federal Court in O m a h a ^ I n ifer^h of this
year oecret Service agents arrested Philip 0 . and Eugene Flint, owners
of two slug factories at Dayton, Ohio.
At their plants agents seized
451,000 completed slugs of the size of 50, 100 and 250 coins, 26 dies
for making slugs, and 4,000 pounds of metal.
Investigation disclosed
that slugs from the Flint factory were sold throughout the country
through mail orders at the rate of 30,000 a day.
^Acting upon information gathered from the records of the Flint
brothers and other sources, Secret Service Agents and Post Office
Inspectors, aided by local police, in quick succession, caused the
indictment of other slug manufacturers and dealers in Minnesota,
Wisconsin, Michigan, New York, Kentucky and Texas.
- 13 ■which is profiled;/ illustrated -with
currency.
photographs of counterfeit
It is the only publication in circulation containing
photographs of
money, ^-beiiig-uiiiawi'ui--to print.picture^, of
Wc
'
ihis brochure was firotr issued:"It has been distributed by
the Secret Service to police departments, merchants, banks and higli
schools j/l
________
_ r*
In a number
of _
instances /embers of
JLjSL**»'
y-3 large blocks m
6SBfcfcr^&'©- their
•iP**fflSBSÎ5SS^^
r
Congress have
constituents.
During the school year just closed it was successfully
d7 '
used, as a textbook in several high schools,treceiving- universal
.
,1mufrm
i
WlwnwnKiirifiTx
/
approval from Boards of/ e d u c a t i o n f f i t h . the
will be more widely
nlffliruruimo.
To
date 14.8 ,0 80 copies have been distributed.
IjChief Frank J. Wilson reported to Mr. Irey that the educational
campaign conducted during the past four years by the Secret Service has
are decidedly more effective in the suppression of note counterfeiting
demonstrated that the use of modern educational methods to prevent crime
than the century old methods of prosecution and imprisonment.
For this
reason, on January 1 , 1941, the decision was made by; the Decret Service
to adopt education as a permanent program in the war on counterfeiters.
Attention is called in the report to the fine cooperation the
Secret Service received in the »Know Your Money» campaign from local
police, mayors and school boards, as a result of which local merchants
and others have found a decrease in their counterfeit money losses.
%
-
12
-
Counterfeiting losses Cut
?
a.t
,
iReviewing the work of the Secret Service for the fiscal year,
^
'C
Irey direct^ attention to its three outstanding accomplishments,
viz.:
.
t !•
i/'c'T'
mdiiftg -ef education of the public in the detection of
counterfeit money, a permanent program*
_ 5 ?-.* t '
—
2 . The cmtiriued-decrease
srer
^ S d ^ o f losses to the
public through the acceptance of counterfeit bills.
^-e successful prosecution of manufacturers and dealers in
worthless slugs.
| Prior to the inauguration, in 1937 , by Chief Wilson, of the
Know lour Money** educational campaign, the annual loss to the public
through the acceptance of counterfeit notes for
)r a four
lour year period
pea
PP / W
(1933- 1936 ) was $771 ,000 . This was reduced in 194.1 to $91 ,096 .
~
'
A.
Agents of the Secret Service, the report states, exhibited its
sound motion picture, **Know lour Money**, and lectured on how' to detect
counterfeit money to 2 ,749 *04.4. retail merchants.
Students in public
and other schools and members of civic organizations, to whom the
picture was shown and before whom the lecture was given, broughtjthe
total to 5*749*939 persons, since January 194-0 , when the campaign was
introduced.
as
a text-book to be used in this educational campaign, the
Secret Service has issued a 32 -page booklet, e n title d “Know Tour Money**,
-
11
-
In June of this year Walter S. Hooper, an ex—convict who had
served twelve years for a major violation of the narcotic laws was
arrested at San Mateo, California, by Narcotics' officers.
He was
posing as a respectable hardware merchant, and it developed that he
,,
... ...
-./yi4
.
was tne racific Goas t^represent ative of
I
'
■
y
¿p\J , i
0
I "notier member of this notorious gang, Samuel Bernstein, was taken
by officers of the Bureau of Narcotics, who apprehended him in the
operation of a chemical plant at Moonachie, N.J., where he was found
to be experimenting with the alteration and adulteration of narcotic
drugs designed for sale in the illicit traffic.
He had
been
twice convicted on narcotics charge and was regarded as a major figure
in the underworld. -H
with "Pfatllp
to
ape11iiivdT^Tlg*"“h!Kh
'
04^ ' -*+r-**e
I Climaxing a year of intense activity against large gangs of ^
narcotics peddlers, Mr. Irey's report calls attention to the destruction
of two such gangs in Chicago by the Bureau of Narcotics:
the Nathan
Banks gang, in which the principal got fifteen years in prison and
five of his lieutenants ten years each; and the Daniel Morbete gang,
in which Morbete, Anthony Valenti, Henry Guardino, Peter Galiano and
Charles Friedlander, all vicious criminals and substantial violators
of the narcotics laws, were given ten years eachj Eugene Eomano, eight
years; and Albert Eoginski three years.
,
tsut
/^
-
10
-
Mother physician, in the same State, hr* Vi• E. Bailey,
Little Rock, was sent to prison for five years, after he had made
several illegal sales of morphine to Narcotics’ officers.
During
a six months'period Dr. Bailey had written 3,376 prescriptions calling
for 55*165 morphine tablets.
Through the activities of the Bureau of Narcotics, according to
Mr. Irey’s summation, sane -h&g ti&e dfeimA&als were brought to^ook.
Among these were members of the notorious gang headed by Louis (Lepke)
Buchalter and Emanuel Weiss, leader of the notorious ,rMurder, Inc.M
'
j
'
f'
Reiss was indicted in Manhattan, in Brooklyn and in Fort Worth, Texas,
on narcotics charges.
fugitive.
Forfeiting a substantial bond, he became a
In July, 1940, many of his co-defendants were tried at
Fort Worth. I It developed that the Weiss organization planned to
distribute narcotics from New York to Illinois and throughout the
Southwest.
Sixteen monbers of this gang were convicted.
were two notorious and dangerous criminals:
Among than
Philip Chadwick, sentenced
to 12 years imprisonment; and Charles Schiffman, sentenced to 10 years
imprisonment.
Included with Weiss in the Brooklyn indictment were
Philip Cohen, Samuel Bernstein, Albert Angelson and Abraham Lorber,
who were given long prison terms.
Weiss, Cohen, James Russo alias
Feraco and Buchalter are under indictment in New York City for murder.
Weiss was captured by Narcotics* officers at Kansas City, Mo., in
ft
April 1941* while posing as the president of a mining company, and
returned to New York to stand, trial on the Narcotics and murder charges.
jff
#/ £/
%
__ I
|
id laws placT!
sale of.
preparation/: and
ojrben
“done
5ns%
r
development in the illicit narcotics traffic has
been the increase in the number of violations among persons registered
under the Harrison Narcotic Law to dispense such drugs lawfully.
This
Mr. Irey attributes to the fact that peddlers and addicts were driven
in increasing numbers to seek supplies through diversion from the
legitimate trade.
Two such cases will serve as illustrations.
^Francesco A*vessa, owner of a drug store in New York City, was
caught selling narcotics.
He pleaded guilty in May 1941 and was
sentenced to imprisonment for a year and a day.
The charge against him
was the unlawful sale of paregoric in large quantities.
In trying to
J ? Z er up hlS tracks R e q u i r e d purchasers to drink at least two ounces
of the drug at the time of the. sale.
This case was so flagrant that the
court, in passing sentence, expressed the hope that Congress would make
more restrictive the laws affecting the sale of paregoric and similar
preparations.
|In Leachvilie, Arkansas, a physician, Ur. Vernon E. Fox, and two
druggists, Eobert Lee Eblen and Joe Curtis Garrett, were detected selling
and filling prescriptions for narcotics in violation of the Harrison
Narcotic Law.
All three were
this case there were
16 illegal sales, covering 3,145 morphine tablets, for which 397 pretended
prescriptions were written in many fictitious names and variously
dated.
*
jr
There was a d e c l i n ^ J J P t h e amount of illicit narcotics
seized in the internal traffic while there was an increase in the
amount of drugs seized at ports and borders* The combined total of
tN
seizures for the fiscal year 19^1#5#363 ounces approximated very
W
]
closely the combined seizures for the fiscal year 1 9 *K), 5,$5^ ounces
but these amounts were far below the average for the three
preceding years— —
2 1 ,2 0 9 *
ifj
I Mr * Irey found some satisfaction in th e marihuana eradication
program, in which the Bureau of Narcotics, in cooperation with other
Treasury agencies, and with the assistance of federal, State and local
authorities, destroyed an estimated 33,235 acres of growing marihuana.
This "was almost a 300 percent increase*
IjThe scarcity of narcotic drugs in the illicit traffic, and the
shortage of smuggled drugs in many sections of the country, have forced
peddlers and addicts to resort to burglary, robbery,
crimes to get their supplies.
forgery and other
Robberies and burglaries of pharmacies
and other registered establishments are of frequent occurrence;
cases involving the forgery of narcotic prescriptions by addicts or
peddlers have increased^Wholesale drug houses and manufacturing
chemists who are^ n p w
to keep a large supply of crude narcotic
drugs in stock have so carefully safeguarded their stocks »that large losses of these drugs have been
comp ar atively few*
^
Many addicts x x k still are attempting to satisfy their
j
cravings for narcotics b y resorting to paregoric or similar so-ealli
exempt preparations* During the year several states passed legislatï
plaoing further safeguards about narcotic preparations of this typej
in consequence
many cases have been noted where drug addicts migrate
J
to adjoining states where these restrictions did not apply*
^ I n its patrol work over merchant shipping, the Coast Guard sighted
and identified 269,531 foreign and domestic vessels during the year.
1
I,
I In recent months the Coast Guard took -^ -• r- -j - n1)l ii imuj__^
-
German, 27 Italian and 35 Danish merchant vessels immobilized in ports
of the United States.
^ D u ring the year Coast Guard vessels cruised 2,236,454 miles and
Coast Guard aircraft f-lew 125,744 miles.
smuggling, 3,593 vessels were trailed.
In the prevention of narcotics
Regattas patrolled numbered
431, and vessels boarded 34,948, of which 708 were reported for violations.
farcotics Violations Decrease
' the natter of narcotics violations, the illicit traffic in
heroin continues to carry the flag, Mr. Irey's report shows; but in
that activity drug seizures declined more than 50 percent, so far as
the internal or domestic trade
s.
' , V ;L^ t
concerned.
Opium led the van at
Seizures of both crude and smoking
*,«s jpere was a decrease in the number of persons
arrested by the Bureau of Narcotics for violations of the Federal
Lhuana), 3^13 persons being arrested in
the fiscal year 194,1 as compared with 2 ,7 9 6 in the previous year.
There was some increase in the number of persons arrested for violations
of the Marihuana Tax Act - 1,010 as compared with 788 for the fiscal
year 1940.
The combined arrests for all types of narcotics violations
decreased from 3,534 to 2 ,823 .
r6Coast. Guard.Had Busy Year
The Coast Guard, (^^HMCttMHHtenationai maritime law enf or cement
agency of the Government, had a very active year-, Mr. Irey's report
discloses. l"There was a complete absence of organized liquor smuggling
by sea11, it states.
This was due to two factors,^SMii^traceable to
^and smugglers had-difficulty obtaining stocks of cheap alcohol# and
'
liquor|f from Europe.
^ D u r i n g the year the Coast Guard trailed 3,595 vessels to prevent
contact with small boats used in the smuggling trade.
Coast Guard air
craft, Mr. Irey says, in cooperation with the Alcohol Tax Unit located
708 illicit stills, 92 of which were seized, with 3,860 gallons of non
tax paid liquor and 246 ,320 gallons of mash.
the enforcement of the neutrality laws the Coast Guard, during
the fiscal year|"sealed 9 ,C98 radio-apparatus on merchant vessels owned, controlled or operated by the governments or nationals of belliger
ent countries, to prevent unauthorized radio transmissions while the
_ .........
were in f l B S S P M
.
United S t a t e s ^ h l K ^
*
7\
Armaments on 613 merchant^hips-were inspected to determine if
they were armed for defensive or offensive purposes and thereby
establishing whether the vessels should be treated as commercial ships
or ships of war.
5 -
convicted and sent to prison
1 Seizures of a number of soft metal tubes of smoking opium, in
the autumn of 1940, at San Francisco and at hew York, led to an in
vestigation which disclosed that these tubes had been packed in the
British Opium Monopoly plant in Singapore and shipped to the British
Monopoly at Hong Kong.
I During the year there were several seizures by Customs» and
arcotics' officers of so-called »«chop-stick»* opium, bearing Arabic
utm
characters, indicating it ¿ M * * of ,Persian origin.
This opium had
been smuggled from the Far East by way of Curacao, Netherlands
West Indies.
I 0f unusual interest was -the arrest by Customs» officers, at
Blaine, Washington, of Leo E. Morland, a British subject, who had in
his possession fifty-seven bars of gold, which he had attempted to
smuggle into the country.
111
The gold, valued at $55,000, was concealed
compartment of a trunk.
It originated in New Guinea and
Australia, and was taken to New Zealand and smuggled from there into
Canada.
1
Customs' officers at Hew York, in May of this year, seized 124 .
Vxniiwm**1-
bales of Oriental rugs from Persia, of an estimated forfeiture value
of |89,000, which had come into the country on false invoices and
undervaluation. ,
\jJuring the fiscal year 1941 (11 months) the Customs Service sent
301 persons to prison, an increase of 98 over the previous year.
ML
Customs/
Seizures
i Narcoties
Naj
1
seizures by the Bureau of Customs for the fiscal year
/
aggregated BOO, a gain of 200 over the preceding year.
This, coupled
with a decrease in shipping, due to world conditions, drove prices of
illicit narcotics j ^ t o new highs, indicating, the report says, an
increasing scarcity of these drugs.
|Total seizures oí all kinds of smuggled commodities totaled 8000,
an inciease over the previous year.
Smuggled liquors showed a decrease.
^ M e x ican raw opium and marihuana continued to trickle across the
border^¿nto the Southwest.
Southern California and the Pacific Coast ports received some raw
opium from Mexico and the Far East.
This region, however, was so close
ly policed by Customs agents that, although there were many indications
of an increase in attempted smugglin¡II most of it was aborted.
^ C ustoms officers also broke up a conspiracy of certain Japanese
seamen to smuggle narcotics into Pacific Coast ports on April 2, when
they arrested, at San Francisco, a Japanese crew member of the '(¡■■¡¡T*
NITTA MAEU, who was attempting to bring in 186 ounces of smoking
opium packed in tins of Far Eastern origin.
A Customs officer, posing
as a longshoreman, went aboard the vessel and took delivery^
\
^ne
^he largest individual seizures of narcotics during the
fiscal year was made at Baltimore on March 22, I94 .I.
It consisted of
one hundred and twenty-one 5-tael tins of smoking opium, weighing 774
ounces.
A Filipino steward on an American vessel was arrested, tried,
National defense Activities •
National defense occupied much of the time and attention of the
enforcement agencies of the Treasury, Mr. Irey reported.
They met
these unusual tasks with high resolve and admirable success, which in
no way interfered with the usual course of their varied duties.
The
results of the fiscal year's work in each of these agencies, Mr. Irey
is most gratifying;
Income tax dodgers
y
pSrcotics and fur smugglers, and other
criminals whose unlawful pursuits cheated the Treasury out of millions
Close cooperation of the Treasury enforcement agencies in their
varied work is commended by Mr. Irey, and attention is directed to the
help they received from other Government agencies and from State and
local police and such world—famed organizations as the Royal Canadian
Mounted Folic
Em m i u■
¡gad
aa^ppHvpp
- 2
The Japanese fishing boats operating out of Honolulu, and the
three fishing companies which buy and sell their “catch", handle their
finances and do their buying, have long been under suspicion by U, S.
Guard, supporting both agencies with its service when needed, worked
for many months on this case.
Many of the Japanese involved in this
conspiracy had American-born Japanese wives and
children and
relatives.
¿merican-born
Japanese
Placing the registry of their boats
under the names of such relatives they thus sought to evade the U.S.
navigation Laws.
In some instances these Japanese lived in Japan, in
others they made regular trips to Japan, ostensibly
medical
treatment or to take the baths.
Some of the nineteen fishing boats were covered by mortgages which
uad been financed through the fishing companies under indictment,
mortgages said to be too heavy for the individual Japanese owners to
carry.
The financing of these boats was one of the suspicious threads
in the conspiracy.
In view of world conditions this is regarded as the most momentous
case developed by any of the enforcement agencies of the Treasury during
the iis cal year ended June 30, and in recognition of its importance,
and of the brilliant way in which it was handled, Acting Secretary of
Commerce ¿vayne C. Taylor wrote Secretary Morgenthau:
I,
I N , / f# <//
lip
Seizure of nineteen Japanese fishing boats in Hawaiian waters
and the subsequent forfeiture of six to the United States Government
was revealed today when Elmer L. Irey, Chief Coordinator of Treasury
law enforcement agencies, submitted his annual report to Secretary
Morgenthau.
Seventy-one Japanese, most of them aliens, but a few of
American birth, and three Honolulu fishing companies were indicted
in March, 1941> as the result of coordinated efforts of the Customs
Agency Service^ t h e United States Coast Guar^/^jR the Intelligence
Unit of the Bureau of Internal K e v e n \ ^ f e i i n d i c t m e n t s charged
conspiracy to violate the navigation laws of the United States, and
allege the use of false »bills of sale,» and false “managing owners'
oaths," in registering the vessels.
The specific charge involved is violation of an Act of Congress
passed in 1793, which requires that all vessels of American registry
must be American owned.
None of these Japanese ships was so owned,
Mr. Irey's report indicates.
Also involved in this case is a further conspiracy to defraud the
treasury out of income taxes.
—
\
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Wednesday, July 30, 1941.
Press Service
No. 26-78
Seizure of nineteen Japanese fishing boats in Hawaiian
waters and the subsequent forfeiture of six to the United States
Government was revealed today when Elmer L. Irey, Chief Coordi
nator of Treasury law enforcement agencies, submitted his annual
report to Secretary Morgenthau.
Seventy-one Japanese, most of them aliens, but a few of
American birth, and three Honolulu fishing companies were in
dicted in March, 1941, as the result of coordinated efforts of
the Customs Agency Service, the United States Coast Guard and
the Intelligence Unit of the Bureau of Internal Revenue.
The
indictments charged conspiracy to violate the navigation laws .
of the United States, and allege the use of false "bills of
sale," and false "managing owners* oaths," in registering the
vessels.
The specific charge involved is violation of an Act of
Congress passed in 1793, which requires that all vessels of
American registry must be American owned. None of these
Japanese ships was so owned, Mr. Irey's report indicates.
Also involved in
*c aQ ±urtaer
, conspiracy to
ixi tin
oii±b^ f'ocp
case xs
defraud the Treasury out of income taxes.
ihe. Japanese fishing boats operating out of Honolulu, and
the three fishing companies which buy and sell their "catch",
handle their finances and do their buying, have long been under
suspicion by U. S. Government agencies.
Acting for the Deoart-
i»ent of Commerce, the Customs Agency Service, which does all of
its investigatory work, the Intelligence Unit of the Bureau of
Internal Revenue, and the Coast Guard, supporting both agencies
with-its service when needed, worked for many months on this
case.
Many of the Japanese involved in this conspiracy had
American-born Japanese wives and American-born Japanese children
Olid
otdsp
i56-18. t i V 0 3 ,
P lR C iT lO *
1 51^.
t h e T* P O' i & f-YJTr n -P f -> •
r
9+ their boats
under
ne
1
the names of such relatives they thus sought to evade the U. S.
Navigation Laws.
Japan, m
In some instances these Japanese lived in
others they made regular trips to Japan, ostensibly
to get medical treatment or to take the baths.
Some of the nineteen fishing boats were covered by mort
gages which had been financed through the fishing companies un
der indictment, mortgages said to be too heavy for the individual
Japanese owners to carry.
The financing of these boats was one
of the suspicious threads in the conspiracy.
v
a
In view of world conditions this is regarded as the most
momentous case developed
by any of the enforcement agencies
of the Treasury during the fiscal year ended June 30, and in
recognition of its importance, and of the brilliant way in
which it was handled, Acting Secretary of Commerce Wayne C,
Taylor wrote Secretary Merge nthau:
"This Department apprec iates the thoroughness with which
the Customs Agency Service h m completed this long and tedious
po4est s tha t ti.ié m
task , and suo5
in.ent concern ed be comirend ed
à
Ï or
leer
.sury Deoart-
¿.t.
the investig at ion TWjrCokoq coirrpleted •ÎT
isa l ione ]-, L ef e.ns e
Nationa 11 def ense o c cuni ed much
of the enforcement agencies o
n
measury, Mr. Irey reported.
They met these unusual tasks with high resolve and admirable
success, which in no way interfered with the usual course of
their varied duties.
The results of the fiscal year's work in
each of these agencies, Mr. Irey stated, is most gratifying.
4
Income tax dodgers, rum, narcotics and fur smugglers,
and other criminals whose unlawful pursuits cheated the Treasury
out of millions of taxes, were sent to prison.
Close cooperation of the. Treasury enforcement agencies in
their varied work is commended by Mr, Irey, and attention is
directed to the help they received from other *Government agen
cies and from State and local police and such world-famed
organizations a.s the Royal Canadian Mounted Police.
Customs Seizures
Narcotics seizures by the Bureau of Customs for the fiscal
year aggregated 800, a gain oi 200 over the preceding year.
This, coupled with a decrease In shipping, due to world con
ditions, drove prices of illicit narcotics to new highs, in
dicating, the report says, an increasing scarcity of these drugs.
Toua.1 seizures of all kinds of smuggled commodities totaled
8,000, an increase over the previous year.
Smuggled liquors
showed a decrease.
Mexican raw opium and marihuana continued to trickle across
the border into the Southwest.
Southern California and the Pacific Coast ports received
some raw opium from Mexico and the Far East.
This region,
however, was so closely policed by Customs agents that, although
there were many-'indications of an increase in attempted smug
gling most of it was aborted.
Customs officers also broke up a conspiracy of certain
Japanese seamen to smuggle narcotics into Pacific Coast norts
on April 2 , when they arrested, at San Francisco, a Japanese
crew member of the NITTA MARU, who was attempting to bring in
186 ounces of smoking opium packed in tins of Far Eastern origin.
A Customs officer, posing as a longshoreman, went aboard the
vessel and took delivery.
One of the largest individual seizures of narcotics during
the fiscal year was made at Baltimore on March 22, 1941,
It
consisted of one hundred and twenty-one 5-tael tins of smoking
opium, weighing 774 ounces.
A Filipino steward on an American
vessel was arrested, tried, convicted and sent to prison.
Seizures of a number of soft metal tubes of smoking opium,
in the autumn of 1940, at San Francisco and at New York, led to
an investigation which disclosed that these tubes had been
packed in the British Opium Monopoly plant in Singapore and
dipped to the British Monopoly at Hong Kong.
0
- 6 During the year there were several seizures by Customs’
and Narcotics' officers of so-called "chop-stick" opium, bear
ing Arabic characters, indicating it was of Persian origin.
This oniurn had been smuggled from the Far East by way of
Curacao, Netherlands lest Indies.
Of unusual interest was the arrest by Customs’ officers,
at Blaine,
ishington, of Leo
Moriand, a British subject,
who had in his possession fifty-seven bars of gold, which he
had attempted to smuggle into the country.
The gold, valued
at $55,000, was concealed in a false compartment of a trunk.
It originated in New Guinea and Australia, and was taken to
Nevr Zealand and smuggled from there into Canada.
Customs
officers at New York, in May of this year, seized
124 bales of Oriental rugs from Persia, of an estimated for
feiture value of $89,000, which had come into the country on
false invoices and were undervalued.
During the fiscal year 1941 (11 months) the Customs
Service sent 301 persons to prison, an increase of 98 over
the previous year.
4
- 7 Coast Guard Had Busy Year
TBe ooast Guards national maritime law enforcement agency
of the Government, had a very active year, Mr, Ireyfs report
discloses.
"There was a complete absence of organized liauor smumgling by sea , it states.
This was due to two factors, each
traceable to world conditions.
Foreign shipping was brought
under more strict control, and smugglers had difficulty obtain
ing stocks of cheap alcohol and liquor from Europe.
During the year the Coast Guard trailed 3,595 vessels to
prevent contact witn small boats used in the smuggling trade.
Coast Guard aircraft, Mr. Irey says, in cooperation with the
Alcohol Tax Unit located 708 illicit stills, 92 of which were
seized, with 3,860 gallons of non-tax paid liquor and 246,320
gallons of mash.
In the enforcement of the neutrality laws the Coast Guard,
during the fiscal year sealed 9,098 radio apparatus on merchant
vessels owned, controlled or onerated by the governments or
nationals of belligerent countries, to prevent unauthorized
radio transmissions while the vessels were in United States
- -8 Armaments on 613 merchant ships were inspected to deter
mine if they were armed for defensive or offensive purposes
and thereby establishing whether the vessels should be treated
as commercial ships or ships of war.
In its patrol work over merchant shipping, the Coast Guard
sighted and identified 269,531 foreign and domestic vessels
during the fjpfr.
In recent months the Coast Guard took into protective
custody 2 German, ¿7 Italian and 35 Danish merchant vessels
immobilized in ports of the United States.
During the year Coast Guard vessels cruised 2,236,454
miles and Coast Guard aircraft flew 125,744 miles.
In the pre
vention of narcotics smuggling, 3,598 vessels were trailed.
Regattas patrolled numbered 481, and vessels boarded 34,948,
of which. 708 were reported for violations.
Narcotics Violations Decrease
In the matter of narcotics violations, the
in heroin continues tci carry the flag, Mr. IreyT
but in that activity cl.rug seizur es declined more
cent, so far as the internal or domestic trade is concerned.
Opium led tne van at seaports and along the borders.
Seizures
of both crude and smoking opium showed heavy increases.
- 9 'There was a decrease in the number of persons arrested
by the Bureau of Narcotics for violations of the Federal
narcotics laws (excluding marihuana), 1,813 persons being
arrested in the fiscal year 1941 as compared with 2,796 in
the previous year.
There was some increase in the number of
persons arrested for violations of the Marihuana Tax Act 1,010 as compared with 788 for the fiscal year 1940.
The
combined arrests for all types of narcotics violations de
creased from 3,584 to 2,823,
There was a decline in the amount of illicit narcotics
seized in the internal traffic while there was an increase in
the amount of drugs seized at oorts and borders.
The combined
total of seizures for the fiscal year 1941, 5,863 ounces,
approximated very closely the combined seizures for the fiscal
year 1940, 5,854 ounces, but these amounts were far below the
average for the three preceding years—
21,209.
-
10
Mr. Irey found some satisfaction in the marihuana
eradication program, in which the Bureau of Narcotics, in
cooperation with other Treasury, agencies, and with the assist
ance of Federal, State and local authorities, destroyed an
estimated 33,235 acres of growing marihuana.
This was almost
a 300 percent Increase.
The scarcity of narcotic drugs In the illicit traffic,
and the shortage of smuggled drugs in many sections of the
country, have forced peddlers and addicts to resort to burglary, robbery, forgery and ot,her crimes to get their supplies,
Robberies and burglaries of pilarmacies and other registered
establishments are of frequent occurrence; cases involving the
forgery of narcotic prescriptions
by
!JT
o addicts or peddlers have
increased.
Wholesale drug houses and manufacturing chemists
who are required to keep a large supply of crude narcotic
drugs irj stock have so carefully safeguarded their stocks that
large losses of these drugs have been comparatively few.
11
-
Many addicts still are attempting to satisfy their crav
ings for narcotics 'by resorting to paregoric or similar socalled exempt preparations.
During the year several states
passed legislation placing further'safeguards about narcotic
preparations of this type; in consequence many cases have been
noted where drug addicts migrated to adioinipg states where
these restrictions did not apply.
A development in the illicit narcotics traffic has been
the increase in the number of violations among persons regis
tered under the Harrison Narcotic Law to dispense such drugs
lawfully.
This Mr. Irey attributes to the fact that peddlers
and addicts were driven in increasing numbers to seek supplies
through diversion from the legitimate trade.
Two such cases
will serve as illustrations.
Francesco A ’Vessa, owner of a drug store in Nevr York. City,
was caught selling narcotics.
He pleaded guilty in May 1941
and was sentenced to imprisonment for a year and a day.
The
charge against him was the unlawful sale of paregoric in large
quantities.
In trying to cover up his tracks he had required
purchasers to drink at least two ounces of the drug at the
time of the sale.
This case was so flagrant that the court,
in passing oentence, expressed the hope that Congress would
make more restrictive the laws affecting the sale of paregoric
and similar preparations.
In Leaehville, Arkansas, a physician, Dr. Vernon R. Fox,
and two druggists, Robert Lee Eblen and Joe Curtis Garrett,
were detected selling and filling prescriptions for narcotics
m violation of the Harrison Narcotic Law.
sentenced.
All three were
In this case there were 16 illegal sales, cover
ing 3,145 morphine tablets, for which 397 pretended prescrip
tions were written in many fictitious names and variously
dated.
Another physician, in the same State, Dr. W. E. Bailey, of
little Rock, was sent to nrison for five year's, after he had
made several illegal sales of morphine to Narcotics
officers.
During a six months’ period Dr. Bailey had written 3,376 pre
scriptions calling for 55,165 morphine tablets.
4
- 13 Through the activities of the Bureau of Narcotics, ac
cording to Mr. Irey's summation, some big time criminals were
brought to book.
Among these'were members of the notorious
gang headed by Louis (Lepke) Buchalter and Emanuel Weiss,
leader of the notorious "Murder, Inc."
fteiss was indicted in
Manhatta¡¡J in Brooklyn and In Fort Worth, Tex:as, on narcotics
charges. Forfeiting a substantial bond, he b>ecame |1 fugitive
In July, 1940, many of his co-defendants were tried at Fort
Worth.
It developed that the Weiss organization planned to dis
tribute narcotics from New York to Illinois end throughout
the Southwest.
Sixteen members of this gang were convicted.
Among them were two notorious and dangerous criminals:
Philip
Chadwick, sentenced to 12 years imprisonment; and Charles
Schiffman, sentenced to 10 years imprisonment. Included with
Weiss in the Brooklyn indictment were Philip Cohen,,Samuel
Berns cem, Albert Angelson and Abraham Lorber, who were given
long prison terms.
Weiss, Cohen, James Russo alias Feraco
and Buchalter are under indictment in New York City for murder.
Weiss was captured by Narcoticsr officers at Kansas City, Mo.,
in April 1941, while posing as the president of a mining com
pany, and returned to New York to stand trial on the Narcotics
and murder charges.
- 14 -
In June of this; year Walter S. Hooper, an ex-convict, who
had served twelve years for & major violation of the narcotic
laws was arrested at San Mateo, California, by Narcotics
officers.
He was posing as a respectable hardware merchant,
and it developed that he was the Pacific Coast narcotics repre
sentative of "Mendy" Weiss.
Another member of this notorious gang, Samuel Bernstein,
was taken by officers of the Bureau of Narcotics, who appre
hended him in the operation of a chemical plant at Moonachie,
N. J., where he was found to be experimenting with the altera
tion and adulteration of narcotic drugs designed for sale in
the illicit traffic.
He had been twice convicted on narcotics
charge and was regarded as a major figure in the underworld.
He was found guilty and sentenced to seven years in addition to
the Brooklyn sentence of ten years.
Climaxing a year of intense activity against large gangs
of narcotics peddlers, Mr. Irey’s report calls attention to the
destruction of two such Ogangs
in Chicago
by the Bureau of
O
O
V
Narcotics:
the Nathan ' Banks gang, in which the principal got
fifteen years in prison and five of his lieutenants ten years
each; and the Daniel Morbete gang, in which Morbete, Anthony
Valenti, Henry Guardino, Peter Galiano.and Charles Friedlander,
- 15 all vicious criminals and substantial violators of the narcotics
laws, were given ten years each; Eugene Romano, eight years;
and Albert Roginski three years.
Counterfeiting Losses Cut
Reviewing the work of the Secret Service for the fiscal
year, Mr. Trey directed attention to its three outstanding
accomplishment s, vi gg,;
1,
The making of education of the public in the detection
of counterfeit money a permanent program.
2.
The continued decrease on a large scale of losses to
the public through the acceptance of counterfeit bills.
3.
The successful prosecutionmanufacturers
of
and dealers
in worthless slugs.
Prior to the inauguration, in 1937 , by Chief Wilson, of the
’’Know Your Money” educational campaign, the annual loss to the
public through the acceptance of counterfeit notes for a four
year period (1933-1936) was $771,000.
This was reduced in 1941
by 88 percent to $91,096.
Agents of the Secret Service, the report states, exhibited
its sound motion picture, "Know Your Money", and lectured on
how to detect counterfeit money to 2,749,044 retail merchants.
Students in public and other schools and members of civic organ
izations, to whom the picture was shown and before whom the
- 16
lecture was given, brought the total to 5,749,989 persons, since
January 1940, when the campaign was introduced.
As a text-book to be used in this educational campaign, the
Secret Service has issued a 32-page booklet, entitled "Know Your
Money”„ Milch is illustrated with photographs of counterfeit
currency.
It is the'only publication in circulation containing
photographs of counterfeit money,, it being unlawful to print
pictures of genuine or counterfeit money.
This brochure has been distributed by the Secret Service
to police departments, merchants, banks and high schools.
In
a number of instances, members of Congress have obtained large
blocks for their constituents.
During the school year just
closed it was successfully used as a text-book in several high
schools, receiving universal approval-from Boards of Education,
With the coming of the Fa.ll term it will be more widely used.
To date 148,080 copies have been distributed.
Chief Frank J. Wilson reported to Mr-. Irey that the educai-
tional campaign conducted during the past four years by the
Secre 4t- Se rvice has .emonstrat ed that the use of modern educationpm
al me tio H!§g ~oj~o prove: .t crime are decidedly more effective in the
suppr es SIon of note counterfeiting than the century old methods
of pr 0s uti on and
imprisonment.
For,this reason, on January 1,
fhe decision
de cis5ion 1was made by the Secret Service to adopt
1941, the
education as a permanent program in the war on counterfeiters.
- 17 -
Attention is called in the report to the fine cooperation
the Secret Service received in the "Know lour Money" campaign
from local police, mayors and school boards, as a result of
which local merchants and others have found a decrease in their
counterfeit money losses.
Second in importance to making and passing counterfeit
money is the growing use of slugs In coin-operated machines.
This form of American business is suffering stupendous monetary
losses from a growing evil akin to counterfeiting," Mr. Irey
said.
Millions of worthless coin slugs have been used to operate
vending machines.
Owners of small retail stores are the victims
of this widespread fraud.
Telephone and traction companies,
cigarette vendors and restaurants sustain a heavy annual loss.
The slug racket, Mr. Ireyfs report stated, has resulted in the
startling yearly loss of $ 5 ,000,000.
It took years of effort before the Secret Service could
obtain an interpretation of the counterfeiting laws which would
permit Federal prosecution of slug makers and dealers.
In
December, 19 4 0 , Max Wasserman, a slug dealer, was convicted in
Federal Court in Omaha, Nebraska.
In March of this year, Secret
Service agents arrested Philip 0. and Eugene Flint, owners of
two slug factories at Dayton, Ohio,
At their plants agents
seized 4 5 1,0 0 0 completed slugs of the size of 5^ , 1 0 £ and 25jzf
- 18 coins, 26 dies for making slugs, and 4,000 pounds of metal.
Investigation disclosed that slugs from the Flint factory were
sold throughout the country through mail orders' at the rate of
30,000 a day.
Acting upon information gathered from the records of the
Flint brothers and other sources, Secret Service Agents and Post
Ofixce Inspectors, aided by local police, in quick succession,
caused the indictment of other slug manufacturers and dealers in
Minnesota, Wisconsin, Michigan, Hew York, Kentucky and Texas,
Losses to the public through the acceptance of counterfeit
coins other than slugs during the year totaled $49,857.56 against
$51,737.42 the previous year.
A new form of counterfeiting was uncovered by the Secret
Service when Agents in New York arrested Louis Carlo Avila,
Angelo M. Castellano, Pompey Thomas De Carolis and Ralph Joseph
Zirpoli for conspiring to make counterfeit
Agriculture food stamps.
Department of
The plates were seized before the
printing began.
Forged Government checks is another racket that the Secret
Service-ia devoting-much-at-t-ention to, this report discloses.
Last year 14,161 such cases were investigated, as a result of
which reimbursements were obtained and other collections and
recoveries were obtained for the Government in the amount of
$248,721.
- 19
c
A recent case of forged Government checks resulted in the
arrest of Samuel Newton Hedges, aged 62, superintendent of the *
paint and finishing shop, Senate Office Building, since 1917,
An investigation by the Secfet Service, at the instigation of
Senator Byrd of Virginia, established the fact that in 1934
Hedges began to place fictitious names on the payroll of his
shop, securing their monthly checks, and forging their names to
the same.
The total amount of the peculation involved 361 checks
and $41,790.85.
Hedges admitted guilt, and is out on bond,
awaiting action of the District of Columbia grand jury.
As many Government checks are cashed by merchants, the
Secret Service is promoting a "Know Your Endorser" campaign,
through which it is planned to teach business men and cashiers
to demand proper identification when cashing such checks.
The Secret Service made a total of 2,949 arrests during the
year, as compared with 3,281 in 1940.
These arrests represented
the following violations:
198 for making or passing counterfeit bills.
554 for making or passing counterfeit coins.
1,859 for forging Government checks.
338 for miscellaneous offenses.
Convictions were ootamed in 2,451 cases.
cases awaiting court action.
There are 894
Convictions were obtained in 97.1
percent of the cases of the Secret Service brought to trial.
20
Big Income Tax Evaders
Reporting for the Intelligence Unit of the Bureau of
Internal Revenue, over which he also presides, Mr. Irey found
that 172 persons from all walks of life were indicted for evasion
oi income and other taxes; 192 individuals were, tried during the
year and 156 were convicted.
In addition to prison sentences,
fines aggregating $300,000 were assessed.
Additional taxes and
penalties totaling $33,810,418.30 were recommended for assessment
in cases investigated during the year.
triminaa proceedings were instituted against 15 other indi
viduals on miscellaneous charges, due to investigations made by
the Intelligence Unit.
Seventeen individuals, some of whom were
indicted prior to the present fiscal year, were tried and 16 were
convicted.
Two outstanding cases were those of Joseph M. Schenck, one
of the most important figures in the moving picture industry, and
George Scalise, a powerful figure in organized labor.
Both were
charged with income tax evasions, Schenck of $250,000 for several
jGo.rs, and Scalise of $104,682 for 1937 to 1939.
Schenck stood
trial, with his principal accountant, Joseph H. Moskowitz, was
convicted and aent to prison for three years and to pay a fine
of $20,000.
Moskowitz also was convicted, and went to prison
tor a year and a day, and was fined $10,000.
Scalise pleadeA
guilty and was sent to prison for three and one half years.
-
21
Smuggling Ring Broken Up
The Enforcement Division of the Alcohol Tax Unit, in pro
tecting the revenue on alcoholic beverages, also had a very busy
year, Mr. Irey’s report shows.
Illicit stills numbering 11,824
were seized, 26,010 arrests made and 6,898,178 gallons of mash
confiscated.
In cooperation with the Customs Service and the Royal Canadiar
Mounted Police, the Alcohol Tax Unit, after persistent sleuthing,
uncovered one of the largest illicit liquor conspiracies ever
organized in this country.
This was the Hyman Frank-Abe Moss-
Byman Pro Jansky gang, which operated like a '.well oiled business,
having distilleries in Chicago, fleets of trucks operating
between Chicago and Detroit, and from Chicago into Ohio, Indiana
and Southern Illinois, and smuggling into Canada.
So huge were
its operations that it defrauded the Government of $2,500,000
•in excise taxes, and the Dominion of Canada out of large excise
and war taxes.
The leaders of the gang were all caught and sent
to prison.
More than twenty of their subordinates entered pleas
of guilty.
The dragnet caught some thirty-five persons.
Tied
in with rum running was a fur smuggling conspiracy, which was
also uncovered and those engaged in it sent to jail.
-oOo-
Tb* I m M
of Contorna anaonacod today timi reporta fro® ih»
collectora of conto»» sho» H o n o m i import f o l i ©f 8*883*259
poqnda far IniiiB cottoti of In o H o c 1-1/2 inche» io st&plo
longth (othor thaa borali or « m # cotto» of loca then 3/4 tneh
io stoico longtfc
m à
ehiefly aao4 la thè awkmf&eture of blarikete
and blanketinf* «od othor tha« liniere)* prorided in thè
Freaident1* proci amition of Sepiewber 5* 1939# far tho M f »
amlH» poriod oanm^fli Septentoer 20* 1940* boa boa» ftlled.
(Frepered by tho garosa of Conto»»)
«IMtfs
2_6>“ 7 ?
k.
July 29, 1941
MR, SCHWARZ:
This is a carbon copy of a Bureau of
Customs release forwarded to your office
on July 28, I have been advised by telephone
this morning that the original has not been
received by your office. When the release
has been mimeographed please have 10 extra
copies forwarded to Miss Henry, Room 403,
Wilkins Bldg., 1512 H. St., N. w.
PRESS RELEASE:
The Bureau of Customs announced today that reports from the
collectors of customs show the current import quota of 8,883,259
pounds for Mexican cotton of less than 1—1/8 inches in staple
length (other than harsh or rough cotton of less than 3/4 inch
in staple length and chiefly used in the manufacture of blankets
and blanketing, and other than linters), provided in the
President’s proclamation of September 5, 1939> for the twelve
months period commencing September 20, 1940, has been filled.
(Prepared by the Bureau of Customs)
TT?
Fji'ifliT
P J-T?P
vrXrn
X 1 oX
G IP
I IY
1 U
X xAi P
i l T1
i '"T?T
j
Washington
FOR ILLEDIÀTE RELEASE,
Tuesday, July 29, 1941.
Press Service
No. 26-79
The Bureau of Customs announced today that reports from the
collectors of customs show the current import nuota o f .8,883 259
pounds for Lexican cotton of less than 1 - 1/8 inches in staple length
(other than harsh or rough cotton of less than 3/4 inch in staple
length and chiefly used in the manufacture of blankets and blanket
ing, and other than 1 inters), provided in the Presidents proclama
tion of September 5, 1939, for the twelve months period commencing
September 20, 1940, has been filled.
-OoO-
4
*
TREASURY DEPARTMENT
Washington
for release morning newspapers ,
Tuesday, Angust 5, 194U.
7/a/4i
Secretary of the Treasury Morgenthau today made public preliminary statistics of corpo
ration income and (declared value) excess-profits tax returns for 1939, filed -through
December 31, 1940, prepared under the direction of Commissioner of Internal Revenue^Mluy T#
Helvering.
The preliminary report will be published at a later date.
RETURNS TABULATED
The returns covered by this release are, in general, for the calendar year ending
December 31, 1939.
However, a considerable number of returns for a fiscal year, other than
the calendar year, ending within the period July 1939 through June, 1940, are tabulated with
the calendar year returns for 1939.
There are also included part year returns for which the
greater part of the accounting period falls in 1939.
Data are tabulated from Forms 1120 and 1120A filed by domestic corporations and resident
foreign corporations not exempt from tax under section 101, Internal Revenue Code as amended}
also from Forms 1120L filed by domestic life insurance companies and by foreign life insurance
companies carrying on insurance business within the United States or holding reserve funds
upon business transacted within the United States.
The data are tabulated from -the returns as
filed by the taxpayer, and prior to revisions that may be made as a result of audit by the
Bureau of Internal Revenue.
Amended returns and tentative returns are not included in the
tabulations•
TAXES PROVIDED BY/INTERNAL REVENUE CODE AS AMENDED
The corporation income tax rates in sections 13 and 14 of the Internal Revenue Code as
amended became effective for taxable years beginning after December 31, 1938^and the (declared
value) excess-profits tax rates in section 600 of the Code as amended became effective for
income-tax taxable years ending after June 30, 1939.
Consequently, the majority of returns
covered by this release are filed under the provisions of the Internal Revenue Code as amended.
The corporation income and (declared value) excess-prof its tax rates are the same for all
returns covered by this release, since the Internal Revenue Code, approved February 10, 1939,
contains the tax rates which were in force on January 2, 1939 —
1938.
those of the Revenue Act of
Moreover, the income and (declared value) excess-profits tax rates, applicable to all
returns for 1939 filed through December 31, 1940, are the same as those applicable to the
majority of returns for 1938 filed through December 31, 1939.
-! 2 The name of the existing excess-profits tax in section 600 of the Internal Revenue Code
was changed to "Declared Value Excess-profits Tax", effective February 10, 1939 (see section
506 of the Second Revenue Act of 1940, approved October 8, 1940).
The new name is used through
out this release, even though it did not appear on the returns for 1939, many of which were
filed prior to the date of approval of the Second Revenue Act of 1940.
NUMBER OF RETURNS, NET INCOME OR DEFICIT, TAX, AND DIVIDENDS PAID
IN CASH'AND ASSETS OTHER THAN CORPORATION*S OWN STOCK f 3
The number of corporation income and (declared value) excess-profits tax returns for 1939
filed through December 31, 194C^s 515,960, of which 199,479 show net income for (declared value)
exoe8s-profits tax computation of $8,826,713,029, while 270,138 show a deficit of $2,092,147,535,
and 46,343 have no income data (inactive corporations).
The income tax is $1,216,450,292, the
(declared value) excess-profits tax $15,805,962, and the total tax $1,232,256,254.
Die total
amount of dividends paid in cash and assets other than corporation*s own stock is
rted on returns with net income and $134,465,848
data for 1938 shows that the total number of
saber of returns with net income for (declared
value) excess-profits tax computation increased 29,595 or 17.4 per cent, the number of returns
with no net income decreased 31,008 or 10.3 per cent, and the number of returns with no income
data (inactive corporations) decreased 3,126 or 6.3 per cent.
The net income for (declared
value) excess—profits tax computation increased $2,300,733,772 or 35.3 per cent, and the
deficit decreased $760,945,735 or 26.7 per cent.
The income tax increased $362,872,361 or 42.5
per cent, the (declared value) excess-profits tax increased $9,818,326 or 164.0 per cent, and the
total tax increased $372,690,687 or 43.4 per cent.
DEFINITIONS OF ITEMS TABULATED AND CLASSIFICATIONS
OF THE RETURNS ,7
In this release "Gross income"* for 1939 equals "Tbtal income"* (item 14, page 1, Forms 1120
and 1120A), plus the sum of "Cost of goods sold", "Cost of operations" (items 2 and 5, respec
tively, page 1, Forms 1120 and 1120A) and the negative items reported as sources of income.
"Net income" or "Deficit"' for 1939 shown in this release is the amount reported for
(declared value) excess-profits tax computation (item 26, page 1, Forms 1120 and 1120A), and is
equal to the difference between "Total income" and "Total deductions"' (items 14 and 27, respec
tively, page 1, Forms 1120 and 112QA)*
The classification of the 1939 returns with net income
and with no net income is based on net income for (declared value) excess-profits tax oomputation,
—>■*3
Ihe amount tabulated as ttIncome tax” for 1939 represents an amount prior to the allowance
of credit claimed for income tax paid to a foreign country or United States possession*
Ihe "(Declared value) excess-profits tax** for 1939 is the amount reported as a tax lia
bility (item 8, Schedule A, page 2, Form 1120, and item 40, page 1, Form 1120A).
This amount
is the same as that taken as a deduction in the computation of net income for income tax
purposes, which is reported as item 29, page 1, Forms 1120 and 1120A* unless the return
rendered on a cash basis*
is
If the cash basis of accounting is used, the deduction is the amount
of excess-profits tax aotually paid within the taxable year covered by the return.
Corporations are classified industrially on the one business activity which accounts for
the largest percentage of "Total receipts**.
Therefore, the industrial groups contain corporations
not engaged exclusively in the industries in which they are classified*
the sum of the following items *
"Tbtal receipts”'means
gross sáles (where inventories are an income-determining factor) ;
gross receipts (where inventories are not an income-determining factor); interest on loans, notes,
mortgages, bonds, bank deposits, etc.? taxable interest on obligations of the United States;
rents; royalties; capital gain; gain from sale or exchange of property other than capital assets;
dividends; and other income required to be included in gross income*
The major^industrial groups for 1939 are comparable with those for 1938*
The industrial
classification for 1939 and 1938 is based on the Standard Industrial Classification, issued by
the Division of Statistical Standards, Bureau of the Budget, Executive Office of the President.
Since the Standard Industrial Classification, as at present designed, is on an establishment
basis, certain modifications were necessary to make it applicable to corporation income tax
returns which are filed on an ownership basis*
In analyzing the data compiled from returns classified under the major industrial group
"Insurance carriers, agents, etc*", allowance should be made for the two special deductions from
gross income permitted life insurance companies under section 203(a), Internal Revenue Code as
amended, relating to reserve funds required by law, and reserve for dividends.
On 1939 returns
with net income this deduction is $17,344,708 and on returns with no net income $899,758,292*
DESCRIPTION OF TABLES
Table 1, pages
5 -
6 ,
All returns are segregated by major industrial groups and by
returns with net income and returns with no net income.
Totals for the following items are
shown for each segregation to which the items are applicable«
Number of returns, gross income,
net income or deficit, income tax, (declared value) excess-profits tax and dividends paid in cash
and assets other than corporation’s own stock.
- 4 -
liable Z, pages
7
ing items are shownt
-
8 •
All returns are segregated as in liable 1.
Totals for the follow
Dividends received on stook of domestic corporations; and interest received
on Government obligations» amount subject to (declared value) excess-profits tax and amount
wholly tax-exempt*
Table 3» page
9 , contains a historical summary of certain items for the years 1930 - 1939*
Bie data prior to 1934 are not strictly comparable with those for subsequent years by reason of
the discontinuance, under the Revenue Act of 1934, of the privilege of filing consolidated returns
except by railroad corporations*
Furthermore, certain data for 1936 - 1939 are not strictly
comparable with those for 1934 and 1935*
For 1936 - 1939, gross income, net income, deficit, and
tax liability, as well as the classification of the returns by those with net income and with no
net income, are materially affected by several provisions of the Revenue Act of 1936 and subse
quent acts, especially by the provisions relating to the method of reporting dividends received
on stook of domestic corporations*
TREASURY DEPARTMENT
Washington
FOR RELEASE MORNING NEWSPAPERS,
Tuesday, August 5, 1941.
T7SUT.I---------
.Press Service
No. 26-80
Secretary of the Treasury Morgenthau today made public
preliminary statistics of corporation income and (declared
value) excess-profits tax returns for 1939, filed through
December 31, 1940, prepared under the direction of
Commissioner of Internal Revenue Guy T. Helvering»
The pre-
liminary report will be published at a later date.
RETURNS TABULATED
The returns covered by this release are, in general,
for tne calendar year ending December 31, 1939,
However, a
considerable number of returns for a fiscal year, other than
the calendar year, ending within the period July 1939 through
June 1940, are tabulated with the calendar year returns for
1939.
There are also included part year returns for which
the greater part of the accounting period falls in 1939.
Data are tabulated from Forms 1120 and 1120A filed by
domestic corporations and resident foreign corporations not
exempt from tax under section 101, Internal Revenue Code as
amended; also from Forms 1120L filed by domestic life in
surance companies and by foreign life insurance companies
carrying on insurance business within the United States or
holding reserv e funds upon business transacted within the
United States,
The data are tabulated from the returns as
filed hy the t axpayer, and prior to revisions that may be
made as a result of audit by the Bureau of Internal Revenue.
Amended returns and tentativ e returns are not included in
the tabulations.
riAAnb
pAVT?Q TMi
tT)OVIDED BY
INTERNAL REVENUE CODE AS | ìTENDED
The corporation income tax rates in section s 13 and 14
of the Internal Reve nue Code as amende d became eifective for
taxable years beginn ing afte r December tQ1
-'X 9 —fi-OlKJOj and the (ded a r e d value) excess-profits tax rates in section 600 of
the Code as emended became effective for income-tax taxable
years ending after June 30, 1939.
Consequently, the majority
of returns covered by this release are filed under the pro
visions of the Internal Revenue Code as amended.
The corporation income and (declared value) excessv U are the same for all returns covered by
profits tax r UafUpq
this release, since the Int ernal Revenue Code, approved
February 10, 1939, contains the tax rates whicli were in force
on January 2, 1939 -- those of the Revenue Act of 1938,
More
over, the income and (declared value) excess-profits tax rates t
applicable to all returns for 1939 filed through December 31,
1940, are the same as those applicable to the majority of
returns for 1938 filed through December 31, 1939.
_ q _
The name of the existing excess-profits tax in section
600 of the Internal Revenue Code was changed to "Declared
Value Excess-profits Tax,f, effective February 10, 1939 (see
section 506 of the Second Revenue Act of 1940, approved
October 8, 1940).
The new name is used throughout this re
lease, even though it did not "appear on the returns for 1939,
many of which were filed prior to the date of approval of the
Second Revenue Act of 1940.
jMBER OF RETURNS, NET INCOME
OR DEFICIT, TAX, AND DIVIDENDS PAID IN CASH
AND ASSETS OTHER THAN CORPORATIONS OWN STOCK
The number of corporation income and (declared value)
excess-profits tax returns for 1939 filed through December 31,
1940, is 515,960, of which 199,479 show net income for (de
clared value) excess-profits tax computation of $8,826,713,029,
while 270,138 show a deficit of $2,092,147,535, and 46,343
have no income data (inactive corporations).
The income tax
is $1,216,450,292, the (declared value) excess-profits tax
$15,805,962, and the total tax $1,232,256,254.
The total
amount of dividends paid in cash and assets other than cor
poration’s own stock is $5,746,738,970, of which $5,562,273,122
is reported on returns with net income and $184,465,848 on
returns with no net income.
A comparison of the data for 1939 with the data for
1933 shows that the total number of returns decreased 4,539
or 0.9 per cent, the number of returns with net income for
R
(declared value) excess-profits tax computation incjreaser
29,595 or 17.4 per cent, the number of returns with no net
income decreased 31,008 or 10.3 per cent, and the number
of returns with no income data (inactive corporations) de
creased 3,126 or 6.3 per cent.
The net income for (declared
value) excess-profits tax computation increased .$2,300,733,772
or 35.3 per cent, and the deficit decreased $760,945,735 or
26.7 per cent.
The income tax increased $362,872,361 or
42.5 per cent, the (declared value) excess-rpofits tax in
creased $9,818,326 or 164.0 per cent, and the total tax in
creased $372,690,687 or 43.4 per cent.
DEFINITIONS OF ITEMS TABULATED
AND CLASSIFICATIONS OF THE RETURNS
In this release "Gross income" for 1939 equals "Total
income" (item 14, page 1, Forms 1120 and 1120A), plus the
sum of "Cost of goods sold", ’‘Cost of operations" (items 2
and 5, respectively, page 1, Forms 1120 and 1120A) and the
.negative items reported as sources of income.
4a "Net income”
o f
"Deficit" for 1939 shown in this re
lease is the amount reported for (declared value) excessprofits tax computation (item 28, page 1, Forms 1120 and
1120 A.), and is equal to the difference between "Total
income” and "Total deductions” (items 14 and 27, respec
tively, page 1, Forms 1120 and 1120A).
The classification
of the 1939 returns with net income and with no net income
is based on net income for (declared value) excess-profits
tax computation.
The amount tabulated as "Income tax" for 1939 repre
sents an amount prior to the allowance of credit claimed
for income tax paid to a foreign country or United States
possession.
The "(Declared value) excess-orofits tax” for 1939 is
the amount reported as a tax liability (item 8, Schedule A,
page 2, Form 1120, and item 40, page 1, Form 11204).
This
amount is the same as that taken as a deduction in the com
putation of net income for income tax purposes, which is
reported as item 29, page 1, Forms 1120 and 11204, unless
the return is rendered on a cash basis.
If the cash basis
of accounting is used, the deduction is the amount of excess
—
tax actually paid within the taxable year covered
by the return.
4b Corporations are classified industrially on tbs ons
business activity which accounts for the largest percentage
of
Total receipts . Therefore, the industrial groups con
tain corporations not engaged exclusively in the industries
m which they are classified*
sum of the following items:
”Total receipts” means the
gross sales (where inventories
are an income-determining factor); gross receipts (where
inventories are not an income-determining factor); interest
on loans, notes, mortgages, bonds, bank deposits, etc.; tax
able interest on obligations of the United States; rents;
royalties; capital gain; gain from sale or exchange of
property other than capital assets : dividends; and other
income required to be included in gross income.
The major industrial groups for 1939 are comparable
with those for 1938.
The industrial classification for 1939
and 1938 is based on the Standard Industrial Classification,
issued by the Division oi Statistical Standards, Bureau of
the Budget, Executive Office of the President.
Since the
Standard Industrial Classification, as at ^resent designed.
*•*
w
"
is on an establishment basis, certain modifications were
necessary to make it applicable to corporation income tax
returns vrhich are filed on an ownership basis.
- 4c
In analyzing the data compiled from returns classified
under the major industrial group ’’Insurance carriers, agents,
etc.”, allowance should be made for the two special deductiorio ¿rom gross income permitted life insurance companies
under section 20$(a), Internal Revenue Code as amended, re
lating to reserve funds required by law, and reserve for
dividends.
On 1939 returns with net income this deduction
is $17,344,708 and on returns with no net income $899,758,292.
DESCRIPTION OF TABLES
Table 1, pa.ges 5 - 6 .
All returns are segregated by
major industrial groups and by returns with net income and
returns with no net income.
Totals for the following items
are shown for each segregation to which the items are appli
cable:
Number of returns, gross income, net income or
aelicit, income t&x, (declared value) excess-nrof'its tax
and dividends paid in cash and assets other than cornoration’s own stock.
Table 2, pages 7 - 8.
in Table 1.
All returns are segregated as
Totals for the following items are shown:
Dividends received on stock of domestic corporations; and
interest received on Government obligations, amount subject
to (declared value) excess-profits tax and amount wholly
tax-exemrt.
Table 3, page 9, contains a historical summary of cer
tain items for the years 1930 - 1939.
The data prior to
1934 are not strictly comparable with those for subsequent
years by reason of the discontinuance, under the Revenue
Act of 1934, of the privilege of filing consolidated returns
excent by railroad corporations.
Furthermore, certain data
for 1936 - 1939 are not strictly comparable with those for
and 1935.
For 1936 - 1939, gross income, net income,
deficit, and tax liability, as well as the classification
of the returns by those with net income and with no net
income, are materially affected by several nrovisions of
the Revenue Act of 1936 and subsequent axts, esnecially by
the nrovisions relating* to the method of renorting dividends
received on stock of domestic corporations
Tabi© 1.
m o d ^ r?ugfl
51* 1940* tT major Industrial group» and by return» with net income and with no net income.
m»ber of retun«, grow» incow., net Income or deficit, income tax, (declared value) excess-profits tax, and dividends p S d iToaah
and assets other than corporation's own stock
(honey figures in thousands of dollars)
Returns with net income 5/
Major industrial groups
\/
Total
industrial group«
Metal mining
Anthracite mining
Other coal lining
Petroleum
Honmetallio mining and quarrying
Mining and quarrying not allocable
feSitSftfifegg «3 8 S g S S
3888
SgSggSggSSSSKgSSPg
Manufacturing
Food and kindred producta
Beverages
Tobacco manufactures
Textile-mill products
Apparel and products mads iron fabrics
leather and producta
Subbar products
Ixnber and timber basic producta
Furniture and finished lumber products
Paper and allied products
Printing and publishing Industries
Chemicals and allied products
Petroleum and coal producta
Stone, d a y and glass products
Iron, steel, and products
Bonierroue metals and their products
Electrical machinery and equipment
Machinery, except transportation equipment
and electrical
Automobiles and equipment, except electrical
Transportation equipment, except automobile a
Other manufacturing
Manufacturing not allocable
Public utilities
Transportation 6/
Communication
Other public utilities
Tj
trade
Wholesale
Retail
Department, general merchandise, dry goods
limited-price variety stores
Mail-order houses
Food stores
Package liquor stores
Drug stores
Apparel
Furniture and house furnishings
Eating end drinking pieces
Dealers in automobiles, accessories, tires,
batteries
Filling stations
Hardware
Tar footnotes, eee pages ID end 11«
Gross
income 4/
Net
income 5/
Income
tax
Returns with no net income 5/
(Declared
value)
Excessprofits
tax 5/
Dividends
paid in cash
and assets
other than
corporation*s
own stock
Number
of
returns
Gross
Incan« 4/
Deficit $/
Dividends
paid in cash
and assets
other than
corporation'I
own stock
515,960
199,479
105,457,187
8,826,715
1,216,450
15,806
5,562,273
270,138
26,977,78£
2,092,148
184,466
14,454
2,587
150
2,055
6.974
1,916
1,774
5,622
555
25
505
1,892
818
51
1,712,464
687,755
18,135
590,472
405,560
211,288
1,477
250,590
154, 383
507
18,257
69,695
27,407
541
56,882
18,766
77
2,802
10,854
4,556
27
588
184
5
42
71
86
1
199,291
120)457
587
12,195
47)720
18’101
433
7,198
1,020
96
1,515
5,582
942
445
1,162,87c
155,417
183,728
425, 55C
545,627
45,55]
7,198
119,414
11,751
18,545
24,425
67,561
6,752
1,421
18,569
869
462
819
1 6 ,9 a
295
6
89,347
10,144
5,191
507
4,925
8,515
2,157
565
2.975
4,567
2,0.3
11,690
7,049
755
5,626
6,816
2,60
1,727
43,002
5,040
1,656
116
2,578
5,725
1,080
526
1,297
2,156
1,425
4,817
5,568
550
1,771
3,917
1,566
880
49,985,526
9,058,129
1,443,685
1,296,268
5,166,755
1,756,675
992,294
1,010,660
617,558
978,264
1,545,985
1,778,016
4,095,205
4,130,859
1,520,926
4,976,695
1,550,774
1,731,699
5,948,528
418,789
150,967
129,169
189,459
51,644
46,506
64,766
58,288
58,028
120,417
157,999
553,738
196,590
157,645
544,662
152,202
187,240
624,575
67,575
25,598
21,148
51,729
8,302
7,605
10,457
5,991
9,548
19,562
25,814
84,947
20,542
25,805
56,006
24,846
50,226
9,701
640
183
7
1,242
506
ISO
115
129
194
515
227
1,401
192
557
1,421
554
276
2,176,241
'236)660
72)554
94)106
69)972
19^165
22) 553
50,696
22,844
27)141
541659
92,682
550l512
172,524
87;986
170,540
68;914
110,162
45,181
4,697
1,321
181
2,252
4,694
1,050
219
1,552
2,551
744
6,511
5,417
525
1,752
2,685
1,195
784
8,510,698
1,069,050
252,163
28,150
728,121
610,192
248,575
75,654
507,070
264,157
224,672
490,564
259,758
1,279,042
184,471
1,045,493
106,116
155,688
580,572
51,626
17,027
1,187
58,436
17,601
10,449
1,687
20,888
14,565
19,828
29,454
17,912
16,828
11,799
46,157
4,740
8,707
55,559
5,027
262
15
5,151
659
517
515
5,045
402
656
1,500
1,269
14,502
664
1,028
155
97
6,299
916
847
5,502
1,968
5,289
457
559
2,587
682
5,178,895
5,456,897
719,989
957,886
280,456
550,945
584,159
84,769
108,767
21,595
55,254
60,459
14,150
18,010
5,424
959
292
565
295
102
170,898
219;626
58;479
55,790
s;eoo
2,798
418
445
2,955
861
565,485
231,550
150,948
220,689
49,553
25,484
18,092
11,284
14,789
4,042
1,882
58
284
502
94
25,895
15,764
5,885
4,244
10,586
6,605
1,650
2,531
9,132,441
4,254,784
1,584,097
5,515,580
1,525,801
474,757
457,265
611,779
215,685
72,551
47,807
95,524
1,198
1,055
55
91
1,174,122
29l)369
565,906
SIS; 847
11,478
8,025
1,977
1,476
5,968, 511
5,555,255
164,620
440,458
555,274
296,295
12,608
46,571
55,278
7,412
925
26,945
141,474
63,174
54,500,018
1,031,271
165,821
2,645
499,709
75,055
8,245,249
US, 710
11,519
56,826
19,567
16,559,117
397,773
61,924
1,611
184,505
16,454
5,204,568
68,920
4,745
is 8 888S 3 8 88 3 BBSBSPgSSSKKSBKPS
/
Number
of
returns
88,284
6,169
570
274
6,492
1,702
5,706
11,471
5,467
8,848
55,195
5,016
160
92
1,901
654
1,807
4,518
2,415
2,058
15,195,952
4,050,950
943,242
111,895
5,084,448
45,024
440,902
1,271,862
581,725
551,606
526,902
202,126
69,228
4,258
64,975
778
15,478
41,505
22,278
14,256
84,887
55,746
11,737
751
10,635
98
2,049
6,655
5,551
2,158
766
97
4
1
111
10
26
69
69
41
264,764
99,567
45;558
2,565
40)975
80
6,560
15)550
7)455
6)986
51,086
5,044
202
171
4,579
1,008
5,782
6,942
2,977
6,558
4,224,831
379,878
10,291
17,448
585,959
40,510
171,979
500,488
186,816
578,558
122,276
10,892
425
1,076
9,555
980
4,676
18,555
8,962
15,585
5,910
5U
1,909
52
797
10
29
462
209
156
47
10,795
2,020
5,547
5,155
669
1*554
2,104,846
170,584
155,446
24,618
7,486
5,625
5,440
1,198
508
67
7
IS
6,982
4*187
5,545
1,293
1,974
916,542
76,249
74,075
12,184
1,798
5,208
271
14
47
'9 7 5
Table 1. - Corporation», 1959, return» filed through December 51, 1940, by major Industrial group» and by return» with net Incone and with no net inooaet
nuaiber of returns, gross incone, net lnoowe or deficit, inoone tax, (declared value) exeesa-profits tax, and dividend» paid in cash
and assets other than corporation'» own stock - Continued
(Money figures In thousands of dollars)
Returns with net income 5/
Major Industrial groups 1/ - Continued
Total
umber of
returns i/
Humber
of
returns
dross
incase 4/
Met
lnooms
§/
Incoa®
tax
Returns with no net inoone 6/
(Declared
value)
Excessprofits
tax 5/
Dividends
paid in cash
sad assets
other than
corporation'a
own stock
Nunber
of
returns
Gross
income
jj
Deficit
1/
Dividends
paid in cash
and assets
other than
corporation's
trade (Coat'd)
61
65
SE
54
(Coat'd)
Lusher end coal yards
Other retail trade
Retail trade not allocable
Trade fint
56 AKSlfit
66 Personal service
•7 Business service
N
Autusot&le repair services
1» Amuseacnt
60 Other, including schools
61 Serfloe not allocable
68 fLaftnoS. Insurance, real estate and lessors
at real property
6» Banks and trust companies
6« 'Mortgage and title companies
66 Investment trusts and Investment companies
66 Holding companies 8/
67 Other corporations holding securities 9/
68 Security and commodity-exchange brokers and dealers
69 Coauneroial credit and finance companies
TO Industrial and personal loan companies
71 Other finance companies
7E Insurance carriers, agents, etc.
75 Real estate, including lessors of buildings
74 Lessors of real property, »accept buildings
76 Finance, Insurance, real estate and lessors of
real property not allocable
T6
77
Construction
3
3
Agriculture, forestry sad fishery
Forestry
Fishery
Agriculture and services
Agriculture, forestry- and fishery not allocehi«
6E
Mature of business not allocable, except trade
For footnotes, ses pagts 10 and 11.
a52
8,555
14,895
2,400
4,222
6,255
1,179
755,455
952,547
217,640
25,482
26,412
6,618
5,667
5,781
986
85
119
55
10,058
16,006
1,915
5,964
8,296
1,155
524.601
482.602
81,557
11,982
19,814
4,591
16,564
8,414
2,744,989
106,697
17,010
268
50,449
7,495
816,850
27,614
866
45,008
14,485
7,576
4,822
10,426
7,447
252
14,114
4,646
2,757
1,245
5,575
1,852
61
2,265,445
618,169
544,556
94,246
822,904
180,488
6,105
179,975
52,185
46,075
5,569
85,974
15,184
189
27,001
4,7176,587
474
12,867
2,552
25
551
84
71
15
102
59
1
85,011
12,428
25,566
1,027
59,109
7,018
75
26,916
9,297
4,285
5,406
5,769
4,015
146
1,402,607
621, 595
178,8a
U S , 865
556,559
149,865
2,279
99,874
45,585
10,062
4,527
26,685
12,950
268
2,965
»7
265
68
1,902
210
5
157,150
18,058
1,712
806
717
5,521
2,205
2,651
2,502
2,888
7,898
101,402
4,584
55,646
11,114
549
490
522
2,097
852
1,419
1,495
524
5,405
28,517
1,874
5,900,267
1,587,917
25,811
148,452
889,569
225,859
95,540
206,485
115,855
46,157
1,670,024
829,726
158,052
1, 776,514
271,224
5,611
100,722
650,719
174,152
15,257
61,459
51,665
15,659
214,926
152,065
81,521
915
256
7
56
22
25
62
25
14
20
69
521
51
1,574,846
195,982
2,904
155,255
528,787
155,408
7,220
46,648
18,825
11,002
104,509
74,178
75,769
86,666
4,992
902
278
165
1,265
1,251
1,059
661
1,550
4,072
64,562
2,a5
2,890,928
507,251
54,654
16,476
51,591
16,269
54,522
19,499
9,454
16,594
1,282,495
1,025,864
28,546
840,416
74,194
18,482
10,508
55,858
54,259
17,275
5,527
2,092
26,425
299,442
277,050
17,485
78,7a
19,668
1,207
9,190
2,718
1,249
512
109
1,500
24,048
8,504
1,562
7*
75
74
8,608
2,992
105,104
27,766
2,745
29
25,788
5,926
48,554
26,065
2,862
76
17,196
5,600
1,470,281
70,244
10,701
467
26,742
10,461
778,860
57,679
1,509
76
2,240
1,010
57,212
5,685
528
156
5,199
7
5
151
22,290
1,861
255
20,176
5,797
559
248
5,205
5
190,901
6,954
10,816
175,114
57
27,912
5,552
1,262
25,107
12
1,576
289
11
1,075
1
77
78
79
80
81
57,566
12,296
1,592
82
9,500
519
581
8,595
7
111
104
2,624
15,902
21,097
584,972
18,178
896
72,975
151,558
14,569
485
2,807
29,756
7,556
1,711
9,065
5,059
1,984
24,568
18,409
15,068
746
4,021
757
674
75
,a
5 9
55
54
555676
58
59
60
61
62
65
64
65
66
67
68
69
7710
Tabi* 2. - Corporations, 1939» returns filed through December 81» 1940» by major industrial groups and by roturas sitò not Income and
with no net incoast dividends received on stock of domestic corporations and Interest received on Government obligations
(Money figures in thousands of dollars)
465,886
262,686
201,151
126,486
299,605
67,607
242,099
56,480
26,190
88
1,472
7,669
922
188
2,236
1,180
15
474
584
178
5
1,576
608
IS
325
517
115
860
575
2
149
67
65
5
4,888
116
640
2,143
1,925
59
6
781
28
216
226
297
13
4SI
9
199
195
24
4
550
19
15
55
275
9
Manufacturing
Food and kindred products
Beverages
Tobacco manufactures
Textile-Brill products
Apparel and products made Atom fabrics
Leather and products
Rubber products
Limber and timber basic products
Furniture and finished lumber products
Paper and allied products
Printing and publishing Industries
Chemicals and allied products
Petroleum and coal products
Stone, clay and glass products
Iron» steel, and products
Nonferrous metals and their products
Heotrical machinery and equipment
Machinery, except transportation equipment and
electrical
Automobiles and equipment, except electrical
Transportation equipment, except automobiles
Other manufacturing
Manufacturing not allocable
349,247
27,301
8,344
4,508
4,536
1,180
1,145
4,528
2,179
1,788
5,826
18,600
70,224
93,519
7,124
18,826
8,745
12,386
25,181
2,090
429
592
1,141
809
192
82
250
659
930
2,181
5,816
1,251
1,082
1,972
506
1,981
13,595
1,215
199
569
644
195
121
71
176
465
690
1,244
1,604
506
667
1,229
SIS
847
11,588
878
230
225
498
116
71
11
74
194
241
957
2,212
745
416
744
190
1,154
17,718
538
67
97
557
58
84
50
300
118
182
456
276
10,650
197
546
48
41
1,505
165
25
14
105
55
4
37
57
50
17
ISO
125
49
59
152
5
12
7*7
85
24
10,501
44,549
5,867
3,359
1,485
3,705
879
609
393
151
1,939
538
411
233
118
1,766
541
198
157
14
579
462
2,564
599
75
Public u t l i m e f
Transportation 6/
Communication
Other public utilities
271,558
49,904
177,751
43,924
6,594
4,647
166
1,785
4,488
5,467
67
955
2,106
1,179
98
850
21,721
19,676
1,067
980
k to ud s
3888
SSBRS BBI S gsS tS SKKei SP S
Minins and Quarrying
Metal mining
Anthracite mining
Other coal mining
Petrols urn
Nonmetalllo mining and quarrying
Mining and quarrying not allocable
3 « SSSS
Interest received cm Government
obligations
Subject to
Wholly tax(declared
Total
exempt 12/
value) excessprofits tax 11/
1,779,462
All Industrial
mSfcSfcfcfceftSS
Dividends
received on
stock of
domestic
corporations 10/
Tj
tote.
Retail
Department, general merchandise, dry goods
Limited-price variety stores
Mail-order houses
Food stores
Package liquor stores
Drug stores
Apparel
Furniture and house furnishings
gating and drinking places
Dealers in automobiles, accessories, tires, batteries
Filling stations
Hardware
W
2
2
15/
75
22
758
82
1
9
92
14
19
5
115
49
54
24
110
2
11
57
50
50
IS
55
76
15
15
42
1
2
150
117
55
80
5
81
2
24
55
5
70
115
51
47
1
1,155
998
15
119
580
554
1
44
755
664
14
76
6
2
2
w
50,595
4,617
2,707
1,910
2,025
415
224
191
52,758
2,106
1,176
950
981
156
84
71
16,205
8,088
1,083
15
1,670
2,094
668
9
21
579
1,550
336
8
8
490
•
13/
5
172
38
22
20
91
1
744
552
1
12
89
5
38
50
15
10
103
685
106
206
45
7
25
£
12
28
18
10
1
1
115
22
5
5
-
95
24
—
1
19
-
W
1,167
643
276
966
831
146
81
W
9
210
67
38
30
194
2
ÌS/
W
16
88
w
15
54
128
9
46
1
IS
2
w
4
14
14
5
1
w
8
15
5
5
18/
w
8888888883
Major industrial groups j/
Returns with no net income 5/
Interest received on Government
obligations
Subject to
Total
(declared
Wholly taxexempt 12/
value) excessprofits tax 11/
3 8 852355 3 8 8 8 3
Returns with net income 5/
Dividends
received on
stock of
domestic
corporations 10/
8*6$6**6Se688
’
“ **'-'■ssrwa.'saür« ass s ä s ä
i ä
ü
t ä
ä s t “-
(Money figures ln thousands of dollars)
Returns with net income 3/
Major industrial groups - Continued
Dividends
received on
stock of
doneatic
corporations 10/
Returns with no net income 5/
Interest received on Government
obligations
Subject to
Total
(declared
Wholly taxvalue) excessexempt 12/
profite tax U /
Dividends
received on
stock of
domestic
corporations 10/
Interest received on Government
Total
Subject to
(declared
value) excessprofits tax 11 /
Wholly taxexempt 12/
Trade (Coat'd)
Bétail (Coat'd)
Lumber end coal yards
Other retail trade
Retail trade not allocable
finance» insurance, real estate and lessors of real
property
—
—
Banks and trust companies
Mortgage and title companies
Investment trusts and investment companies
Holding companies 8/
Other corporations holding securities 9/
Security and commodity-exchange brokers and dealers
Commercial credit and finance companies
Industrial and personal loan companies
Other finance companies
Insurance carriers, agents« etc.
Real estate, including lessors of buildings
Lessors of real property, except buildings
Finance, Insurance, real estate and lessors of real
property not allocable
Construction
P8SS3
S2aSfägSgSS82S
Service
Personal service
Business service
Autonobile repair services
Amusement
Other« Including schools
Service not allocable
S
S 3888
Trade not allnwtKI«
82
Agriculture, forestry end fishery
Forestry
Fishery
Agriculture and services
Agriculture, forestry and fishery not » n i w « W t
feture of business not allonahi«. «ecent tr*H«.
Par
footnotes, see pegos 10 and 11.
784
833
179
111
134
23
11
1,651
417
182
16,514
1,236
3,786
525
96
147
10,733
720
18
86
307
43
80
5
44
134
22
8
188
1
73
75
58
85
1592
112
14
27
9
21
20
3
19
255
359
54
27
27
54
217
53
66
4,467
450
99
268
58
105
157
25
77
111
28
29
42
54
15/
5,704
213
i»/
90
55
56
57
58
59
60
61
238,969
219,015
285
638
1,522
1,788
677
54
26
51
15,088
858
275
183,941
155,769
552
518
1,974
1,988
16
62
9
20,141
852
173
73,279
4,681
551
7,689
13,716
5,227
960
65
15
341
50,003
4,341
255
294,967
71,098
1,549
19
15
565
1,507
10
62
281
218,570
695
52
1
5
21
15/
"
1,042,909
18,059
281
102,172
640,834
170,991
3,126
8.070
1.070
6,434
64,313
10,660
2,655
422,910
574,784
405
1,170
2,040
3,762
2,664
70
14,244
2,479
693
1,787
5,437
614
5,752
759
424
535
537
249
771
159
1,492
88
60
35,229
1,710
448
120
5,277
257
931
13
4,988
907
758
9
149
1,483
254
4
1
229
1,155
84
49
54
359
54
52
10
12
1
2
8
15/
11
44
**
55, 395
24,895
195
14
7
57
179
4
19
42
29,525
261
14
7
6
2
W
9
45
“
51
52
58
239,573
46,203
1,354
6
6
508
1,528
6
43
190
189,045
434
18
69
70
71
72
78
74
182
452
78
94
155
76
59
2
1
56
175
1
lg/
Ï74
77
78
79
80
81
22
32
82
62 oo
6848 I
6668
67
68
other than corporation's own stock) also number of returns of inactive corporations
(Money figures in thousands of dollars)
1959 14/
gpg
Returns with net income and with no net incomei
Number of returns
Gross income 4/
Net Income less deficit £/
Income tax
(Declared value) Excess-profits tax § J
Dividends paid in cash and assets
other than corporation's own stock
Returns with net income §/t
Number of returns
Gross income 4/
Net income y
Income tax
(Declared value) excess-profits tax §/
Dividends paid in cash «»< assets
other than corporation's own stock
Returns with no net income y x
18
Number of returns
1«
Gross income 4 /
Deficit ¡J
16
Dividends paid in cash and assets
other than corporation's own stock
17 Number of returns of inactive corporations
15
For footnotes, see pages 10 and 11.
469,617
152,434,975
6,754,565
1.216.450
15.806
5,746,759
199,479
105,457,187
8,826,715
1.216.450
15.806
5,562,275
1958
1957
1956
471,032
477,838
478,857
119,995,842 141,967,077
152,277,935
5*672,882
7,555,991
7,526,218
¿2/855,578 ±2/1,232,857 ±2/1,169,765
5.988
43.555
21.615
5,015,455
1935
1954
1953
1952
1951
1950
477,115
115,936,170
1,695,950
710.156
±2/24,969
469,804
100,851,255
94,170
588.375
¿§¿7,675
446,842
85,642,420
*2/2,547,367
416.095
£1/6,976
451,884
81,085,738
22/6*645,574
¿2/285,576
459,704
17,515,259
'5,287,545
398,994
.
463,056
±2/136,062,059
1,551,218
711.704
¿2/8,184,241
7,514,017
7,579,553
5,940,620
¿2/4,859,579
3,127,459
5,885,601
6,151,068
169,884
192,028
80,068,303 108,989,095
6*525,979
9,654,857
¿2/855,578 ±2/1,232,857
5.988
45.555
205,161
104,765,755
1 » ,9*478,241
¿2/1,169,765
21.615
164,251
77,441,506
5,164,725
710.156
±2/24,969
145,101
62,920,954
4,275,197
588.375
¿§/7,675
109,786
46,752,566
2,985,972
416.095
£1/6,976
82,646
51,707,965
,2*155,115
¿2/285,576
175,898
52,051,055
5,685,368
598,994
4,651,002 ¿2/3,822,599
2,585,889
2,520,586
8,871,880
¿2/6,825,050
4,780,202
7,508,774
7,179,220
221,420
7
19/89,561,495
8
6,428,815
9
711.704 10
11
270,158
26,977,788
2,092,148
501,148
59,927,558
2,855,096
285,810
52,977,981
2,280,846
275,696
27,514,178
2,152,024
512,882
56,494,664
5,468,774
524,703
37,910,299
4,181,027
537,056
56,890,055
5,555,559
369,258
49,575,775
7,796,687
285,806
55,464,204
6,970,915
241,616
46,500,564
4,877,595
184,466
46,545
235,251
49,469
205,245
51,259
200,112
1,289,618
56,518
1,056,781
59,094
741,570
57,258
1,565,215
56,752
2,279,205
56,700
1,561,181
55,700
51,922
12
18
14
18 ,
16
17
-
10
-
Footnotes for Tables 1» 2 and 3
1/ The major industrial groups for 1939 are
comparable with those for 1938 published
in the "Preliminary Report, Statistics of
Income for 1938, Corporation Income and
Excess-Profits Tax Returns". The indus
trial classification for 1939 and 1938 is
based on the Standard Industrial Classi
fication, issued by the Division of
Statistical Standards, Bureau of the
Budget, Executive Office of the President.
Sinoe the Standard Industrial Classi
fication, as at present designed, is on an
establishment basis, oertain modifications
were neoessary to make it applicable to
corporation inoome tax returns whioh are
filed on an ownership basis.
Inoludes number of returns of inaotive
corporations.
J T h e name of the existing excess-profits tax
was changed to "Declared Value Bxoess-Profits
Tax", effective February 10, 1939 (see
section 506 of the Seoond Revenue Aot of
1940, approved Ootober 8, 1940). The new
name is used throughout this release, even
though it did not appear on the returns for
1939, many of whioh were filed prior to the
date of approval of the Second Revenue Act
of 1940.
6/ Includes "Tbll roads and toll bridges* whioh
were classified in "Other public utilities*
for 1938, and exoludes "Natural gas pipe
lines" whioh are classified in "Other public
utilities* for 1939 (see note 7).
T/ Includes "Natural gas pipe lines* whioh wars
classified in "Transportation" for 1938, «wd
excludes "Tbll roads and toll bridges" whioh
are classified in "Transportation* for 1939
(see note 6).
Z/ "Net income" or "Deficit" for 1939 (Table
1) and for 1936-1939 (Table 3) is the
amount reported for (declared value)
excess-profits tax confutation (item 28,
page 1, Forms 1120 and 1120A for 1939), and
is equal to the difference between "Total
income" and "Total deductions* (items 14
and 27, respectively, page 1, Forms 1120
and 1120A). "Net inoome* or "Defioit" for
1933-1955 (Table 3) is the amount reported
for income-tax confutation, and for 19301932 (Table 3) is the current year net
income (before deduction of prior year
loss). The classification of the returns
by those with net inoome and with no net
income for 1939 (Thble 1) and for 19371959 (Thble 3) is based on net inoome for
(deolared value) excess-profits tax
confutation) for 1933-1956 (Table 3) on
net income for income-tax confutation,
and for 1930-1932 (Table 3) on ourrent
year net inoome (before deduction of prior
year loss). For 1936, the amount of "Net
income" or "Defioit* tabulated is greater
than the item used for the classification
of the returns by the amount of the
excess-profits tax deducted in the compu
tation of the income tax.
&/ Consists of corporations who at any time
during the taxable year owned 60 percent or
more of the voting stock of another corpo
ration and whose inoome from such stook was
50 percent or more of the amount of dividends
received.
9/
Consists of corporations (other than invest
ment trusts and investment companies) who
(a) at no time during the taxable year
owned 50 peroent or more of the voting
stook of another corporation or (b) at any
time during the taxable year owned 50 per
cent or more of the voting stook of another
corporation but whose Inomwe from such
stook was less than 50 peroent of the amount
of dividends reoeived.
10/
Dividends from domestlo corporations subjeot
to taxation under Title I of the effective
revenue aot (oolumn 2, Schedule G, page 3,
Form 1120 and oolumn 2, Sohedule B, page 2,
Form 112QA), whioh is the amount used for
the computation of the dividends reoeived
credit. Exoludes dividends from corpo
rations organised under the China Trade
Act, 1922, corporations entitled to the
benefits of section 251 of the Internal
Revenue Code as emended and foreign corpo
rations, whioh dividends are not used for
the computation of dividends reoeived oredit.
ll/
Consists of interest on United States savings
bonds and Treasury bonds owned in principal
amount of over 15,000 reported as item 8,
page 1, Form 1120 and 1120A,
12/
Consists of interest on obligations of States,
Tsrritories, or political subdivisions there
of, or the District of Columbia, or United
States possessions, obligations of the
U n ite d states issued on or before
September 1, 1917, Treasury notes. Treasury
A/ "Gross inoome* for 1939 (Table 1) and for
1932-1939 (Table 3) equals "Total income"
(item 14, page 1, Forms 1120 and 1120A
for 1939) plus the sum of "Cost of goods
sold", "Cost of operations* (items 2 and
5, respectively, page 1, Forms 1120 and
1120A for 1939), and the negative items
reported as sources of income. "Gross
income" for 1930 and 1931 (Table 3) equals
"Tbtal inoome", plus the sum of "Cost of
goods sold" and the negative items
reported as sources of inoome. Taxable
interest on Government obligations is
included in "Gross income" for 1936-1939
and is exoluded from "Gross inoome* for
1930-1935 ("Gross inoome* for 1934 and
1935 is adjusted to exolude this item).
-11Footnotes for Tables 1, 2 and 3 - Continued
bills and Treasury certificates of indebt
edness* United States savings bonds and
treasury bonds owned in prinoipal amount
of 15*000 or less* and obligations of
instrumentalities of the United States.
13/
Less than |500.
2S/
Preliminary figures.
15/
16/
Consists of |41*569*498 normal tax and
$7*778*561 surtax on undistributed pro
fits reported on returns for a fiscal
year ending in period July through
November, 1938 (and on returns for a
part year beginning in 1937 and ending
in 1938* the greater part of the
aocounting period falling in 1938)* and
$804*230*054 inoome tax reported on
returns for the calendar year 1938 and
on returns with fiscal year ending in
period January through June, 1939 (and
on returns for a part year beginning
and ending in 1938* and for a part year
beginning in 1938 and ending in 1939*
the greater part of the accounting
period falling in 1938).
calendar year 1936 and on returns with
fiscal year ending in period January
through June* 1937 (and on returns for
a part year beginning and ending in
1936* and for a part year beginning in
1936 and ending in 1937, the greater part
of the accounting period falling in 1936).
18/
Inoludes a small amount of excess-profits
tax which appears on returns with no net
inoome for inoome tax purposes beoause
the oredit for interest received on
oertain obligations of the United States
and its instrumentalities, which is
allowed against net income in the compu
tation of the income tax, is not allowed
against net income in the computation of
the excess-profits tax. (See article
1(d), Treasury Decision 4469, "Regulations
relating to excess-profits tax imposed
by section 702 of the Revenue Act of
1934".)
19/
Revised. For dividends paid in cash and
assets other than corporation*s own
stock* for 1934 and 1930* see Statistics
of Inoome for 1935* Part 2* page 9*
footnote 2. For inoome tax for 1932*
see Statistics of Inoome for 1933*
page 37. For gross inoome for 1930*
see Statistics of Income for 1931, pages
32-33.
20/
Deficit in excess of net inoome.
21/
9ie excess-profits tax for 1933 beoame
effective June 30* 1933, under seotion
216 of the National Industrial Reoovery
Act.
Consists of $1*056*939*166 normal tax and
$175,897*696 surtax on undistributed
profits.
17/ Consists of $59*289*827 inoome tax
reported on returns with fiscal year
ending in period July through
November, 1936 (and on returns for a
part year beginning in 1935 and end
ing in 1936* the greater part of the
accounting period falling in 1936)*
and $965*503*111 normal tax and
$144*972*284 surtax on undistributed
profits reported on returns for the
&>uu7aa>.
^
Reserve Banks and Branches, following which public announcement will he made by
the Secretary of the Treasury of the amount and price range of accepted bids.
Those submitting tenders will be advised of the acceptance or rejection thereof.
The Secretary of the Treasury expressly reserves the right to accept or reject ^
any or all tenders, in whole or in part, and his action m
shp.ll he final.
any ouch
Payment of accented tenders at the prices offered nus, he made
or completed at the Federal Reserve Bank in cash or other immediately avail»!«
funds on
August 6f 1911------ _--- — •
The inco^Tderived from Treasury bills, whether interest or gain from | I
the sale or other disposition of the hills, shall not hare any exemoti
,
1
such, and loss from the sale or other disposition of Treasury hills shall
■
have any special treatment, as such, under Pederal tax Acts now or hereafter
j
enacted.
j
The bills shall be subject to estate, inheritance, gift, or other
excise taxes, whether Federal or S t a t e , but shall be exempt from all taxation
. . -i „
now or hereafter imposed on the principal or l
"hTipreof hv any State, or
■
any of the possessions of the United States, or by any local taxing authority.
I
For purposes of taxation the amount of discount at which Treasury bills ™
M
originally sold by the United States shall be considered to be interest. x
Treasury Department Circular Ho. 418, as amended, and this notice, P
1
1
scribe the terms of the Treasury bills and govern the conditions of their issue.
Copies of the circular may be obtained from any Federal Reserve Bank or Branch. I
<
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPÜS,,
Friday, August 1, 19A1________ •
The Secretary of -the treasury, hy this public notice, invites tenders
-pnr & 100,000,000
, or thereabouts, of --- _91_-day Treasury 0llls» to be issued
on a discount basis under competitive bidding.
be dated August 6, 1941
The Dills of this series wi
and will mature
November 5. 194L
Imt
when the face amount will be payable without interest.
XSÖQC
They will he issued in
’
hearer form only, and in denominations of *1,000, $5,000, $10,000, $100,000,
$500,000, and $1,000,000 (maturity value).
Tenders will he received at Federal Reserve Banks and Branches up to the
closing hour, two o'clock p. m., Eastern Standard time,
Tenders will not he received at the Treasury Department, Washington.
Each tender
must he for an even multiple of $1,000, and the price offered must he expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not he used.
Fractions,
It is urged that tenders he made on the pointed forms and for- ;
warded in the special envelopes which will he supplied hy Federal Reserve Bantat 1
or Branches on application therefor.
Tenders will he received without deposit from incorporated hanks and
trust companies and from responsible and recognized dealers in investment secun-I
ties.
Tenders from others must he accompanied hy payment of 10 percent of the
I
face amount of Treasury hills applied for, unless the tenders are afcoompanied hy i
an express guaranty of payment hy an incorporated bank or trust company.
,
|
Immediately after the closing hour, tenders will he opened at the Federl
TREASURY DEPARTMENT
FOR RELEASE, MORNING NEWSPAPERS,
Friday, August 1, 1941.______ _
The Secretary of the Treasury, by this public notice, invites
uenaers for $100,000,000, or tnereabouts, of 91—day Treasury bills,
to be issued on a discount basis under competitive bidding.
The bills
of tnis series will be dated August 6, 1941, and will mature
November 5, 1941, when the face amount Bill be payable without interGot.
ihey will be issued in bearer form only, and in denominations
of it,000, $5,000, $10,000, $100,000, $500,000 and $1,000,000
(maturity value).
Tenders will be received at Federal Reserve Banks and Branches
up to the closing hour, two o'clock p.m.,. Eastern Standard time,
feonday, August 4, 1941.
Tenders will not be received at the Treasury
Bepartmenu, Washington.
Each tender must be for an even multiple of
$1,000, and the price offered must be expressed on the basis of 100,
with not more than three decimals, e.g., 99.925.
be used.
Fractions may not
It is urged that tenders be made on the printed forms and
forwarded in the special envelopes which will be supplied by
Federal Reserve Banks or Branches on application therefor.
Tenders will be received without deposit from incorporated banks
and trust companies and from responsible and recognized dealers in
investment securities.
Tenders from others must be accompanied’by-
payment of 10 percent of the face amount of Treasury bills applied
for, unless the tenders are accompanied by an express guaranty of
payment by an incorporated bank or trust company.
26-81
- 2 Immediately after the closing hour, tenders id 11 be opened at
the Federal Reserve Banks and Branches, following which public
announcement will be made by the Secretary of the Treasury of the
amount and price range of accepted bids.
Those submitting tenders
will be advised of the acceptance or rejection thereof.
The
Secretary of the Treasury expressly reserves the right to accept or
reject any or all tenders, in whole or in part, and his action in
any such respect shall be final.
Payment of accepted tenders at the
prices offered must be made or completed at the Federal Reserve Bank
in cash or other immediately available funds on August S, 1941.
ine income derived from Treasury bills, whother interest or gain
from the sale or other disposition of the bills, shall not have any
exemption, as such, and loss from the sale or other disposition of
Treasury bills shall not have any special treatment, as such, under
Federal tax Acts now or hereafter enacted.
The bills shall be sub-
jecc to estate, inneritance, gift, or other excise taxées, whether
Federal or State, but shall be exempt from ail taxation now or
hereafter imposed on the principal or interest thereof by any State,
or any oi the possessions of the United States, or by any local
taxing authority.
For purposes of taxation the amount of discount
at which Treasury bills are originally sold by the United States
shall be considered to be interest.'
OO “
Treasury Department Circular No. 418, as amended, and this
notice, prescribe the terms of the Treasury bills and govern the
conditions of their issue.
Copies of the circular may be obtained
from any Federal Reserve Bank or Branch.
-OoO-
c£D
PRESS RELEASE:
m
The Bureau of Uustoms announced today preliminary figures for imports of
coffee subject to Quota limitations under the President's proclamation of the
inter—American Coffee Agreement on April 15 , 194-1*
The following tabulation lists the coffee quotas which have been filled,
and shows import figures for the quotas now under telegraphic control as of
July 26, 1941.
Total imports under the other coffee quotas are shown as of
July 19> 1941*
Quota Period - 12 months
from October 1, 1940s
Dominican Republic
uuatemala
Venezuela
colombia
costa Rica
Brazil
(Import quota filled}
16,138,333
tt
71,950,208
«
it
56,484,233
423,632,012
26,897,267
1,250,722,887
El Salvador
Honduras
nicaragua
80,691,799
Cuba
Ecuador
Haiti
Peru
Mexico
10,758,933
2,689,700
July 19, 1941
tt
26,224,775
20,173,016
36,983,708
July 26, I94I
tt
69,394,142
2,009>947
23,154,333
8,414,634
19,732,082
36, 696,002
3,090,570
60,520,232
3,362,191
63,880,975
Non-signatory countries:
All types of coffee
47,742,641
July 26, 1941
Quota period - April 22 to
August 31, 1941, incls
Non-signatory countries:
Mocha coffee
2,645,520
July 26, 1941
46,594,769 2/
1,497,648
Quotas increased by inter-American uoffee Board, as of June 1, 1941.
2/ Under the terms of an executive order, effective June 14, W41,
“ i Z r t quota for non-signatory countries is subject to the allocation of
mari mum of 20,000 bags for coffee of the Mocha type which may
consumption from April 21 to August 31, 1941, inclusive.
U
(Perpared by the Bureau o f Customs)
{
P'
JREASURT DEPARTMENT
Washington
Press Service
No. 26-82
FOR IMMEDIATE RELEASE
Thursday, July 31, 1941.
The Bureau of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the President’s
proclamation of the Inter-American Coffee Agreement on April 15, 1941.
The following tabulation lists the coffee quotas which have been
filled, and shows import figures for the quotas no?/ under telegraphic
control as of July 26, 1941.
Total imports under the other coffee
quotas are shown as of July 19, 1941.
Quota P eriod
Country o f P roduction
:
:
R evised \ J
Quota ( lb s )
:
:
Entered fo r Consumption
As o f (Date)
:
Pounds
Quota P eriod - 12 months
from October 1, 1940:
Dominican Republic
Guatemala
Venezuela
Colombia
Costa R ica
Brazil
16,138,333
71,950,208
56,484,233
423,632,012
26,897,267
1 ,250,722,887
( Import quota f i l l e d )
it
ti
ti
n
ii
ii
it
ii
ii
tt
ii
ii
ti
it
ii
El Salvador
Honduras
Nicaragua
80,691,799
2,689,700
26,224,775
J u ly 19, 1941
ti
it
69,394,142
2,009,947
23,154,333
Cuba
Ecuador
Haiti
Peru
Mexico
10,758,933
20,173,016
36,983,708
3,362,191
63,880,975
J u l y 26, 1941
tr
ti
ii
fi
8,414,634
19,732,082
36,696,002
3,090,570
60,520,232
Non-signatory co u n trie s J
A ll types o f c o ffe e
47,742,641
J u ly 26, 1941
46,594,769 2/
Quota Period - A p r il 22 to
August 31, 1941, i n c l :
Non-signatory co u n tries :
Mocha c o ffe e
2,645,520
J u ly 26, 1941
1,497,648 2/
1/ Quotas increased by Inter-American Coffee Board, as o f June 1, 1941.
y Under the terms of an Executive order, effective June 14, 1941, the
increased import quota for non-signatory countries is subject to the
allocation of a maximum of 20,000 bags for coffee of the Mocha type
which may be entered for consumption from April 21 to August 31,
1941, inclusive.
-OoO-
-
2-
T h e T r e a s u r y also had word of a 100 per cent
investment
in the D e f e n s e sec u r i t i e s by the officers and
m e n of the U n i t e d States C o a s t Guard patrol boat COLFAX,
C h i e f B o a t s w a i n S. A,
c o m m a n d i n g officer of the ship.
E, H, P e t e r s e n is the
The e x e c u t i v e officer
is B o a t s w a i n J o h n J. McSally,Jr,
In Texas,
the D a llas N ews ann o u n c e d t hat eighty
em p l o y e e s had signed up at the first c a l l for r e gular
p u r c h a s e s of the bonds and M. M. Donosky, t r e a s u r e r of
the
new s p a p e r ,
said that m a n y m o r e w o uld
p r o g r a m after v a c a t i o n time.
00O00
join in the
¿P- (o " £ 3
For Friday pms
telephone operators in Missouri these days
are saying/’Defense Bonds4?” instead of 4HiMkaii^ the familiar
’’Number, Please?”
The automatic time signal records in Tulsa,
Oklahoma, meanwhile are repeating, ’’Now is the time to
buy Defense Bonds; the titoe is • • . . ”
These two innoviations are part of a nationwide
effort on the part of telephone companies to aid in the
sale of Defense Savings Bonds and Stamps, the Treasury
Department reported tod ay •
The American Telephone and Telegraph Company
was one of the first large corporations to
m sa S
?arrange
a systematic savings plan for the purchase cf Defense Bonds
by its employees.
Local telephone companies, such as the
Michigan Bell Telephone Company, the Southwestern Bell
Telephone Company and the Chesapeake and Potomac Telephone
Company, have adopted similar"ifik payroll plans.
TREASURY D EPAR.TIEN
K®a shington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Friday,'August 1, 1S41.
7/SP/4I:
-------
Press Service
No* 26-a3
Telephone operators in Missouri these days are saying, "Defense
Bonds?" instead of the familiar "Number, Please?"
The automatic time s ignal r ecords in Tulsa, Oklahoma, meanwhile
are repeating, "Now is the time to buy Defense Bonds; the time is
These two innovations are part of a nationwide effort on the
part of telephone companies' to aid in the sale of Defense Savings
Bonds and Stamps, the Treasury Department reported today.
The American Telephone and Telegraph Company was one of the
first large corporations to arrange a systematic savings plan for the
purchase of Defense Bonds by its employees.
Local telephone companic
such as the Michigan Bell Telephone Company, the Southwestern Bell
Telephone Company and the; Chesapeake and Potomac Telephone Company,
have adopted similar payroll plans.
The Treasury also had word of a 100 per cent investment in the
Defense securities by the officers end men of the United Spates Coast
Guard patrol boat COLFAX.
Chief Boatswain S.A. E. II. Petersen is the
/Commanding officer of the ship.
The executive officer is Boatswain
John J. LcSally, Jr.
In Texas, the Dallas News announced that eighty employees had
signed up at the first call for regular purchases of the bonds and
L. iv.. Donosky, treasurer of tne newspaper, said that many more would
join in the program after vacation time.
-OoO-
Press Service
Fn
iw # 49&-&A
jO Owl:
Secretary Lorgenthau today announced the final details with
0
respect to the two tax series of Treasury notes which go on sale this
looming at the Federal Reserve Banks.
The Series A-1943 notes, in
the denominations of $25, $50 and SloO, provide a return of about
1.92 percent a year, are designed to be attractive to the snail tax
payer, and their presentation in payment of income taxes will be
limited to $1,200 from, any taxpayer in any one tax year.
The Series
B-1943 notes vail be issued in denominations of $100, $500, $1,000,
$10,000 and $100,000, will provide a return of about 0.43 nercent a
year, and the amount of these notes which may be presented in pay
ment of taxes will be limited only by the amount of taxes due.
The owner's name and address, and the date of issue, will be
entered on each note at the time cf'its issue by a Federal Reserve
Bank.
The month in which payment is received by a Federal Reserve
Bank or Branch, or by the Treasurer of the United States, will
determine the purchase price, and issue date of each note.
Particular
attention is called to the fact that checks or other remittances not
immediately available should be received by.a Federal Reserve Bank
or Branch, or by the Treasurer of the United States, in time to be
cleared and the funds actually available to the Treasury before the
end of a month in order to get that month's dating.
T h e se n o t e s a r c b e i n g o f f e r e d
fo r s a le to ta x p a y e r s fo r
c o n v e n ie n c e in ' s e t t i n g a s i d e r e g u l a r l y t h e fu n d s
r e q u ir e d t o m eet t h e u n p r e c e d e n t e d t a x e s
on t i l l s
y e a r 's
in c o m e .
The i n t e r e s t
•ri-,iic&n
t r e y w i l l pj
tlie i
v a i l oe
n ext year
e a r n e d on t h e s e no
m u ch
w i l l be c r e d i t e d r a t h t h e p r i n c i p a l i n p a y m en t o f in co m e t a x l i a
is
e x p e cte d
o Oe a t t r a c t i v e
j—i
|Jf
b ility ,
t h is r e a s o n many wi
l e n t to meo t t h e
to t a x p a y e r s
g e n e r a lly *
ao u b i l e s s p u r c h a s e a n am ount o f n o t e s
For
s u ffio
ec t in lit t ed t a x 1 l a D i l i t y f or t h e ne x t two y e a r s ,
as much th e r e o f a s th e i r K
\t
V- r»
i l l p e r m it,
or
s in c e th e n o te s bear
1o
"I or. s s s o o n e r r e d e e m e d .
i n t e r e s t to humus t 1
.-i--L
x 5 1 o d-v- l y nLtjr*
The n o t e s wi 11
be a c c e p t a b l e
a t a n y tim e
i n na jTie n t o f an y F e d e r a l in co m e t a x e s
Ico n m cn cin r w i t h
th e t h i r d m onth a f t e r
•not o e i o r e . o a n u a r i 1 ,
ta x ^ s,
I f n o t p r e s e n t e d i n ra y m e n t o f in co m e
th e y c a n h e r adeem ed a t t h e F e d e r a l R e s e r v e B ank o f i s s u e
fo r c a s h ,
and i n
1S 4 2 .
t h e m onth o f p u r c h a s e , b u t
in
1nmlluttU
c i i n o t e s Vv it b o u t
l/li e c a s e o f S e r i e s ■
ad ve nice :n o t ce
^jy n
:
th e r* <IS 6 Qi
S e n e Q -P._1
i--' j*. 0/
v m\1
3 n o t e s a f t er
OA d
o f i s s u e an d on eu
d aV
ys advance n o t ic e .
a t L-iiC p o r c n a s e
p ayer,
p r i c e p a ic . l o r
in t h is c a s e , g e ts b ack
ohe n o t e s •
c ir c u la r
S u c h V: edemp t i o n wi 11 oe
in o i l
lo r d s
j u s t t h e am ount he p a i d f o r
noCes a n a no m ore*
The o f f i c i a l
■
j O d a y s from i t n e d a
is a tta ch e d .
C 1/otX
th
T H E U N IT E D S T A T E S O F A M E R IC A
TREASURY NOTES
Tax Series A-1943
____________________
Dated August 1,1941
Tax Series B-1943
Due August 1,1943
Issued at Par and Accrued Interest
Acceptable at Par and Accrued Interest in Payment of Federal Income Taxes
1941
Department Circular No. 667
TREASURY DEPARTMENT,
Of f ic e of t h e S ecr etar y ,
Washington, July 22,1941.
Fiscal Service
Bureau of the Publie Debt
I. OFFERING OF NOTES
L The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act,
as amended, offers for sale, to the people of the United States, through the Federal Reserve Banks, at
par and accrued interest, two issues of nontransferable notes of the United States, designated TreasUf J
of Tax Series A-1943, and Treasury Notes of Tax Series B-1943. As hereinafter proI vided, the notes of both series will be acceptable at par and accrued interest in payment of Federal
o taXef \ ^ romded> however, that not exceeding $1,200 principal amount of notes of Tax Series
A-1943, and the accrued interest thereon, will be accepted from any one owner in any period of
welve consecutive months m payment of taxes due from such owner. I f not presented in payment
ot taxes, the notes will be redeemable at the purchase price as hereinafter provided.
2. Descriptions of the notes of both series, and their terms are hereinafter fully set forth
9 , 1 0 1 *,^
be
on sale be« innin8'. A “ g«st 1,1941, and the sale will continue until December
, 1941, unless earlier terminated, as to either or both series, by the Secretary of the Treasury.
11
II. DESCRIPTION OF NOTES
i
n° teS ° f b° th SeriGS Wil1 be dated Au^ust t 1941> ^ d will mature August
h 194?* The °wner s name and address, and the date of issue will be entered on each note at the
time of its issue by a Federal Reserve Bank. The month in which payment is received by a Federal
Reserve Bank or Branch, or by the Treasurer of the United States, will determine the purchase
price and issue date of each note. The notes may not be transferred. No hypothecation of the
notes on any account will be recognized by the Treasury Department, and they will not be accepted
to secure deposits of public money. Except as herein provided, the notes will be subject to the
general regulations of the Treasury Department, now or hereafter prescribed, governing bonds
and notes of the United States.
« ie r e s f.-T h e notes of Tax Series A-1943 will be issued in denominations of $25, $50, and $100, and interest thereon will accrue during each month after August 1941 in
the amount of 16 cents on each $100 principal amount, that is, 4 cents on each $25, 8 cents on each
$50, and 16 cents on each $100 denomination of note. The notes of Tax Series B-1943 will be
issued in denominations of $100, $500, $1,000, $10,000 and $100,000, and interest thereon will accrue
each month after August 1941, m the amount of 4 cents on each $100 principal amount, that is 4
o r e L T Itn n n o o 0^ 2° C?nt®.on each ?500> 40 cents on each $1.000, $4 on each $10,000, and $40
m
^OO.OOO denommahon of note. In no case, however, shall interest accrue beyond the
onth in which the note is presented in payment of taxes, or beyond its maturity. Exchanges of
authorized denominations of each series from higher to lower, but not from lower to higher may
be arranged at the Federal Reserve Bank of issue.
’
g s
and tax-'<>aVmewt value.— The notes of both series will be sold at par during
941, and will be sold at par and accrued interest during each subsequent month while they
E g f S “ I*’
f ° r 3 note of any ^nomination of either series advancing each
onth after August 1941, m the amount of one month’s interest on that note. Tables, showing for
16— 22407
2
each month from August 1941, to August 1943, for each denomination of each series, the principal
amount of the notes with accrued interest added, are appended to this circular. The total shown
for any denomination for any month— August through December 1941— while the notes remain on
sale, is the purchase price, or cost, of the note during that month. Also, the total shown for any
denomination for any month thereafter is the tax-payment value, or the amount at which the note
will be acceptable during that month in payment of Federal income taxes as herein provided.
4. Acceptability in payment of taxes.— The notes of both series (but not more than $1,200 prin
cipal amount of notes of Tax Series A-1943 from any one owner in any period of twelve consecutive
months) will be acceptable, at par and accrued interest, in payment of Federal income taxes (cur
rent and back personal and corporation taxes, and excess-profits taxes). The conditions of presenta
tion, surrender and acceptance of the notes in payment of such taxes are set forth in Section IV of
this circular.
5. Payment ov redemption for cash.— The notes of either series m a y not be called by the Secre
tary of the Treasury for redemption prior to maturity. If such notes are not presented in payment
of taxes: (1) they will be payable at maturity, or (2) they will be redeemable prior to maturity,
at the owner’s option and request, as hereinafter provided in Section V and in either case payment
will be made only at the price paid for the notes.
6. Taxation.— -Income derived from the notes shall be subject to all Federal taxes, now or here
after imposed. The notes shall be subject to estate, inheritance, gift or other excise taxes, whether
Federal or State, but shall be exempt from all taxation now or hereafter imposed on the principal or
interest thereof by any State, or any of the possessions of the United States, or by any local taxing
authority.
III. PURCHASE OF NOTES
1. Applications and payment.— Applications will be received by the Federal Reserve Banks and
Branches, and by the Treasurer of the United States, Washington, D. C. Banking institutions gen
erally m a y submit applications for account of customers, but only the Federal Reserve Banks and
the Treasurer of the United States are authorized to act as official agencies. Every application must
be accompanied by payment in full, at par and accrued interest to the month in which payment is
received by a Federal Reserve Bank or Branch, or the Treasurer of the United States. Any form
of exchange, including personal checks, will be accepted subject to collection, and should be drawn
to the order of the Federal Reserve Bank or of the Treasurer of the United States, as the case may
be. A n y depositary, qualified pursuant to the provisions of Treasury Department Circular No. 92
(revised February 23,1932, as supplemented) will be permitted to make payment by credit for notes
applied for on behalf of itself or its customers up to any amount for which it shall be qualified in
excess of existing deposits.
2. Reservations.— The Secretary of the Treasury reserves the right to reject any application in
whole*or in part, and to refuse to issue or permit to be issued hereunder any notes in any case or in
any class or classes of cases if he deems such action to be in the public interest, and his action in any
such respect shall be final. If an application is rejected, in whole or in part, any payment received
therefor will be refunded. The Secretary of the Treasury, in his discretion, m a y designate agen
cies other than those herein provided for the sale of, or for the handling of applications for, Treasury
notes to be issued hereunder.
3. Delivery of notes.— Upon acceptance of full-paid applications, notes will be duly issued and,
unless delivered in person, will be delivered by registered mail within the Continental United States,
the Territories and Insular Possessions of the United States, the Canal Zone and the Philippine
Islands. N o deliveries elsewhere will be made.
4. Form of application.— In applying for notes under this circular, care should be exercised to
specify whether those of Tax Series A-1943, or Tax Series B-1943 are desired, and there must be
furnished the name and address of the individual, corporation or other entity in which the notes are
to be issued; and if address for the delivery of the notes is different, appropriate instructions should
16—22497
be given. The name should be in the same form as that used in the Federal income tax return ox
the purchaser. The use of an official application form is desirable, but not necessary. Appropriate
forms m a y be obtained on application to any Federal Reserve Bank or Branch, and banking insti
tutions generally will supply such forms.
IV. PRESENTATION IN PAYMENT OF TAXES
1. After three months from month of purchase (as shown by the date of issue on each note),
but not before January 1, 1942, during such time, and under such rules and regulations as the C o m
missioner of Internal Revenue, with the approval of the Secretary of the Treasury, shall prescribe,
notes issued hereunder in the name of a taxpayer (individual, corporation, or other entity) m a y be
presented and surrendered by such taxpayer, his agent, or his estate, to the Collector of Internal
Revenue, to w h o m the tax return is made, and will be receivable by the Collector at par and accrued
interest from August 1941, to the month, inclusive (but no accrual beyond August 1943) , in whicn
presented in payment of any Federal income taxes (current and back personal and corporation taxes,
and excess-profit taxes) assessed against the original purchaser or his estate, but not more than
$1,200 principal amount of notes of Tax Series A —1943, and the accrued interest thereon, m a y be
accepted by the Collector in any period of twelve consecutive months in payment of Federal income
taxes due from such owner. The notes must be forwarded to the Collector at the risk and expense of
the owner, and, for his protection, should be forwarded by registered mail, if not presented in person.
V. CASH REDEMPTION AT OR PRIOR TO MATURITY
1. General.— A ny Treasury note of Tax Series A-1943 or Tax Series B-1943 will be redeemed
for cash at the purchase price at or before maturity. Notes of Tax Series A-1943 m a y be redeemed
before maturity without advance notice, but notes of Tax Series B —1943 m a y be redeemed before
maturity only after 60 days from date of issue and on 30 days’advance notice. The timely surren
der of a note of Tax Series B-1943, bearing a properly executed request for payment, will be ac
cepted as constituting the advance notice required hereunder.
2. Execution of request for payment.— The owner in whose name the note is inscribed must ap
pear before one of the officers authorized by the Secretary of the Treasury to witness and certify re
quests for payment, establish his identity, and in the presence of such officer sign the request for
payment appearing on the back of the note, adding the address to which check is to be mailed.
After the request for payment has been so signed, the witnessing officer should complete and sign
the certificate provided for his use.
3. Officers authorized to witness and certify requests for payment.— A n y officers authorized to
witness and certify requests for payment of United States' Savings Bonds, as set forth in Treasury
Department Circular No. 530, Fourth Revision, as amended, are hereby authorized to witness and
certify requests for cash redemption of Treasury notes issued under this circular. Such officers
include United States postmasters, certain other post office officials, and the executive officers of all
banks and trust companies incorporated in the United States or its organized territories, including
officers at branches thereof who are certified to the Treasury Department as executive officers.
4. Presentation and surrender.— Notes bearing properly executed requests for payment must
be presented and surrendered to the Federal Reserve Bank of issue, at the expense and risk of the
owner. For the owner’s protection, notes should be forwarded by registered mail, if not presented
in person.
5. Disability or death.— In case of the disability or death of the owner, and the notes are not to
be presented in payment of Federal income taxes due from his estate, instructions should be obtained
from the Federal Reserve Bank of issue before the request for payment is executed, or the notes
presented.
6. Partial redemption.— Partial cash redemption of notes of either series, corresponding to an
authorized denomination, m a y be made in the same manner, appropriate changes being made in the
request for payment. In case of partial redemption of a note, the remainder will be reissued with
the same date of issue as the note surrendered.
4
7.
Payment.— Payment of any note, either at maturity or on redemption before maturity, will
be made only by the Federal Reserve Bank that issued the note, and will be made by check drawn
to the order of the owner, and mailed to the address given in his request for payment. In any case,
payment will be made at the purchase price of the note, that is, at par and accrued interest (if any)
paid at the time of purchase.
VI. GENERAL PROVISIONS
1. Federal Reserve Banks, as fiscal agents of the United States, are authorized to perform
such services or acts as m a y be appropriate and necessary under the provisions of this circular, and
under any instructions given by the Secretary of the Treasury.
2. The Secretary of the Treasury m a y at any time or from time to time supplement or amend
the terms of this circular, or of any amendments or supplements thereto, and m a y at any time or
from time to time prescribe amendatory rules and regulations governing the offering of the notes,
information as to which will promptly be furnished to the Federal Reserve Banks.
HENRY MORGENTHAU, Jr.,
Secretary of the Treasury.
(Filed with the Division of the Federal Register, July 31, 1941)
16—32497
TREASURY NOTES—TAX SERIES A-1943
Purchase Price and Tax-Payment Value During Successive Months
.
a m o u n t^ th ^ ^ ru e d finterest added1
1941’ t0 Au| ust 1.943’ for notes of each denomination, the principal
$25
$50
$100
PURCHASE PR ICE
August, 1941_______
September, 1941__
October, 1941................
November, 1941__
December, 1941_____
----------------------------- --------------
January, 1942.............
February, 1942________
MARCH, 1942______
April, 1942__ ______
May, 1942............. .
JUNE, 1942___ ____
July, 1942______ R_ _ _ _
August, 1942___ _____
SEPTEMBER, 1942...
October, 1942_____ ___
November, 1942__ ___
DECEMBER, 1942_____
January, 1943.
February, 1943........ ..
MARCH, 1943________
April, 1943__ ______ .
May, 1943_________
JUNE, 1943_______
July, 1943________ ..
August, 1943_____ __
—
—
.
........
m m . [JUmm
(PaO. U0
25. 04
25. 08
25» 1.2
25. 16
$50. 00
50. 08
50. 16
50. 24
50. 32
$100. 00
100. 16
100. 32
100. 48
100. 64
YALUÜi
$25. 20
25. 24
Atl. Zo
25. 32
25. 36
25. 40
25. 44
25. 48
Zut o2
25. 56
25. 60
25. 64
25. 68
25. 72
25. 76
25. 80
25. 84
25. 88
25. 92
25. 96
$50. 40
50. 48
50. 56
50. 64
50. 72
50. 80
50. 88
50. 96
51. 04
51. 12
51. 20
51. 28
51. 36
51. 44
51. 52
51. 60
51. 68
51. 76
51. 84
51. 92
$100. 80
100. 96
101. 12
101. 28
101. 44
101. 60
101. 76
101. 92
102. 08
102. 24
102. 40
102. 56
102. 72
102. 88
103. 04
103. 20
103. 36
103. 52
103. 68
103. 84
Purchase Price and Tax-Payment Value During Successive Months
while the notes remain on sale, is the
through December 1941—
any denomination for any month thereafter is the Tax-Pavment VaIup nr +v,0 0m®
.nA*80*
shown for
during that month in payment of ^FederalIconS taxes 7
’ the am0Unt at which the note wiU be acceptable
$100
$500
$1,000
$10,000
$100,000
PURCHASE PRICE
August, 1941..................................
September, 1941.........................
October, 1941... ...............
November, 1941...............
December, 1941________ _
$100.
100.
in n
100.
100.
00
04
no
12
16
vuUU. UU
k a a an
OUU.
¿0
OUU. 40
CAA £ÎA
0 UU. oU
500. 80
$1, 000.
1, 000.
1, 000.
1, 001.
1, 001.
00
40
80
20
60
$10,
10,
10,
10,
10,
000
004
008
012
016
$100,
100,
100,
100,
100,
000
040
080
120
160
TAX-PAYMENT VALUE
January, 1942.___ ________________ _____
February, 1942_____
MARCH, 1942__________________ W f£3
April, 1942___________
May, 1942................... .......
JUNE, 1942__________ ________ _____
July, 1942__________ ______ ___________
August, 1942 _________ .
SEPTEMBER, 1942....__ ___ :____
October, 1942.......... ............ .................... .........
November, 1942................
DECEMBER, 1942......................
January, 1943............ ...L________L............. ....
February, 1943_______
MARCH, 1943................. ............---Z.'.'.'l” ” ” ' ”
April, 1943___ _________ ___ ____________
May, 1943____________ .
JUNE, 1943.......................
' ......
juiy, 1943 ----------- -—
....... ..............
August, 1943.:............ ................................. ......................... I
$100. 20
100. 24
100. 28
100. 32
100. 36
100. 40
100. 44
100. 48
100. 52
100. 56
100. 60
100. 64
100. 68
100. 72
100. 76
100. 80
100. 84
100. 88
100. 92
joo.
100. 96
U . S . GOVERNMENT PR IN T IN G O F F IC E
$501. 00 $1, 002. 00
501. 20
1, 002. 40
501. 40
1, 002. 80
501. 60 1, 003. 20
501. 80
1, 003. 60
502. 00
1, 004. 00
502. 20
1, 004. 40
502. 40
1, 004. 80
502. 60
1, 005. 20
502. 80
1, 005. 60
503. 00
1, 006. 00
503. 20
1, 006. 40
503. 40
1, 006. 80
503. 60
1, 007. 20
503. 80
1, 007. 60
504. 00
1, 008. 00
504. 20
1, 008. 40
504. 40
1, 008. 80
504. 60 1, 009. 20
504. 80 1, 009. 60
1 6 — -2 2 4 9 7
$10, 020
lOj 024
10j 028
10j 032
10' 036
10; 040
10, 044
10; 048
lOj 052
10' 056
10j 060
10i 064
10i 068
10, 072
lOj 076
loi 080
10^ 084
10' 088
10; 092
10', 096
$100, 200
100, 240
100, 280
100, 320
100, 360
100, 400
100, 440
100, 480
100, 520
100, 560
100, 600
100, 640
100, 680
100, 720
100, 760
100, 800
100, 840
100, 880
100, 920
100,960
in handling the sale of these notes should be very simi
lar to that now in effect with respect to United States
Savings Bonds of Defense Series F and G. I very much
appreciate the valuable assistance being rendered in that»
connection by the banking institutions of the country as
well as in the handling of our regular Treasury issues.
I am certain that I can count on your cooperation in this
further important phase of the National Defense Program.
f'lt is important that the taxpayers of the Nation
become aware of the unprecedented taxes they will have to
pay next year on this year’s income, and they should be
encouraged to set aside funds now with which to meet those
later payments.
The new tax series notes provide an orderly
method of laying aside the amounts each taxpayer will require
for that purpose.
X would therefore appreciate it if the
Treasury could have your continued cooperation in acquaint
ing your customers with the facts concerning these tax notes
and your assistance in handling their applications and remit
tances with your Federal Reserve Bank.,J
Very truly yours,
Secretary of the Treasury
y \p -c \z °
^ You have doubtless learned through the press or
your district Federal Reserve Bank the basic features of
the two tax series of Treasury notes which I propose to
offer for sale on August 1. The Series A-1943 notes in
the denominations of $25, $50 and $100, providing a re
turn of about 1.92 percent a year, are designed to be at
tractive to the small taxpayer and their presentation in
payment of income taxes will be limited to $1,200 from
any taxpayer in any one tax year. The Series B-1943 notes;
will be issued in denominations of $100, $500, $1,000,
$10,000 and $100,000, they will provide a return of about.
0.48 percent a year, and the amount of these notes which
can be presented in payment of taxes will be limited only
by the amount of taxes due.
n A table of values appears on each note and in
Treasury department Circular No. 667 governing the issue.
It should be understood that principal and accrued inter
est will be credited by the Collector of Internal Revenue
against the owner’s tax liability at the value stated in
the table for the month in which the notes are presented
in payment of that liability.
If the owner purchases more
notes than he requires for his tax payments, or if for any
other reason he wishes to cash the notes in, he will get
back only the purchase price paid for the notes. Cash re
demption may be accomplished only through the Federal Re
serve Bank of issue and under the conditions specified in
the official circular.
^I have asked the Federal Reserve Bank of your
district to send you copies of the official offering cir
cular, a booklet giving the salient features of the notes,
for quick reference purposes, and a supply of application
forms. It is my feeling that the procedure to be followed
TREASURY DEPARTMENT
Washington
FOR RELEASE,: MORNING NEWSPAPERS,
Friday, August 1, 1941,_ _ _ _ _ _ _
PRESS SERVICE
No* 26-85
The following letter was sent today by Secretary Liorgenthau
to all banking institutions in the country in connection with
the new offering of tax notes:
uYou have doubtless .learned through the press or your
district Fe-deral Reserve Bank the basic features of the two
tax series of Treasury notes which I propose to offer for
sale on August 1.
The Series A-1942 notes in the denominations
of $25, $50 a n d *$100, providing a return of about 1*92 percent
a year, are designed to be attractive to the small taxpayer and
their presentation in payment of income taxes will be limited
to $1,200 from any taxpayer in any one tax year.
The Series
B-1943 notes wall be issued in denominations of $100, $500,
$1,000, $10,000 and $100,000, they will provide a return of
about 0,48 percent a year, and the amount of these notes which
can be presented in payment of taxes will be limited only
by the amount of taxes due*
UA table of values appears on each note and in Treasury
Department Circular No. 667 governing the issue.
It should
be understood that principal and accrued interest vdll be
oó
credited by the Collector of Internal Revenue against the
owner's tax liability at the value stated in the table for
the. month in which the notes are presented in payment of that
liability.
If the owner purchases more notes than he requires
for his tax payments, or if for any other reason he washes
to cash the notes in, he. will get back only the pin?chase price
paid for the notes.
Cash redemption may-be accomplished
onlv
x
■i-
o
d
thr ough the Federal Pn2serve 3an]0 01 is;sue ;and unde■r th c condi
tions s]ieci fied in the; 0i.i 1C1a 1A , c ir cu liir •
"I 1lave asked the jl'|Srjp jo |
D.
:■s erve ]Bank of your di strict
to send you copies of the of fi c:Lai off,srinjZ cir cuiar, a
n
booklet giv.ing the salLieAt fea tlAi
tisi'SteOb m the- not es, lor
quick
reference purposes, and a supply of applicati on forms.
It is
my feeling that the procedure to be followed in handling the
sale of these notes should be very similar to that now in
f
h res-pect to Unit ed. mSta
tes Sav
1 and G-.
I very- much appr
yrp;^jgg eciate
1
-----in that connection
connec tion by
bvc the banking inst
1T
as ■well as in the
•
n
Pi oUT'.i
ilc
dlin,
I am c er tain that I ca-
p
u
cooperation in this further important phase of the National
Defense Program.
o
"It is important that the taxpayers of the Nation become
aware of the unprecedented taxes they ¡¡rill have to pay next
year on this year’s income, and they should be encouraged to
set aside funds now with which to meet those later payments.
The new tax series notes provide an orderly method of lavinp*
aside the amounts each taxpayer m i l require for that purpose
I would therefore appreciate it if the Treasury could have
your continued cooperation In acquainting your customers
with the facts concerning these tax notes and your assistance
in handling their applications and remittances li th your
Federal Reserve Bank.
Very truly yours,
H. II ¡agKriair,
jr.
Secretary of the Treasury
t b e a & ìrt
smàsmm
Washington
Proto Service
FOR RELSA3E, M0HHI8Q KEWSPÀPERS,
T yy»o r. *n«n»t 5. m i . __________
2 4 -
8/4/41
S ' 4’
The Secretar^ of thè Treasury anaounced Iati ovonìng that thè tendere for
$100,000,000, or theroaboute, of 91-day Treasury bilie, to be dated August 6
and to saturo Hovember 5, 1941# ohich «ero offered on August 1, sere opened at
thè Pedexml Reserve Banks on August 4»
The dettile of this leene are as folloest
Total applied for « $293,242,000
Total aeeepted
* 100,232,000
Rango of aeeepted bidet
High
lem
Ave rag© price
« 100.
m
-
99*970
99*973
Bquivalent rate approxia&tely 0.119 percont
m
m
*
0.106
*
(56 percont of thè aaount bid for at thè lo« price was aeeepted)
i i T7TTrP
.SIJRY DEF1Ir>l rrp
Washington
FOR RELEASE,
Tue; ha1L»l
mm
c
new«
DERS,
Press Service
No. 26-86
The Secretary of the Treasury announced last evening that
the tenders for $100,000,000 or thereabouts, of 91-day Treasury
bills, to be dated August 6, aid to mature November 5,. 1941,
which were offered on August 1, were opened at the Federal
Reserve Banks on August 4:
The details of this issue are as follows:
Total applied for - $293>242',000
Total accepted
- 100,232,000
Range of accepted bids:
CD
CO
High
- 100.
HO Eqi ivalent rate approximately 0.119 percent.
Low
- 99. Oy/u
Average
price
99.
*
*
*
0.106
*
(56 per cent' of th amount bid for at the l#r price was
accept ed)
o 0 o
August 2,
19 HI
STATUTORY DEBT LIMITATION
AS OF JULY 31, 19^1
Section 21 of the Second Liberty Bond Act, as amended, provides that the
face amount of obligations issued under authority of that Act 0 shall not exceed
in the aggregate $6 5 ,000 ,000,000 outstanding at any one time."
The following table shows the face amount of obligations outstanding and the
face amount which can still be issued under this limitation«
Total face amount of bonds, savings bonds, certificates,
bills, notes, savings certificates, stamps, etc.,
which may be oustanding at any one time
Outstanding as of July 3^* 19^15
Interest-bearing:
Bonds $30,215,052,700
Treasury
Savings (maturity
5,800,801,350
value)*
H0 ,2 lH ,000
Depositary
739.oxg.756
Adjusted Service
Treasury notes
Certificates of
indebtedness
Treasury bills
(maturity value)
$65,000,000,000
$36,795,092,606
$ 9,169.829.500
2 ,35 2 ,000,000
1 .603,3 32.0 0 0
13,125.221,500
$U9 ,920,314,30 &
Matured obligations, on
which interest has ceased
167,021,350
Race amount of obligations
issuable under above authority
50.0g7.335.656
$14,912,664,344
Reconcilement with Daily Statement of the United States Treasury
July 31, 191*!
Total face amount of outstanding public debt obligations
issued under authority of the Second Liberty Bond Act,
as amended
Deduct, unearned discount on Savings bonds (difference
between current redemption value and maturity value)
$50,087,335,656
1,151.351,62*
$**8,935.9SM32
Add other public debt obligations outstanding but not
subject to the statutory limitation:
Interest-bearing (Pre-War, etc.)
$
196,046,600
Matured obligations on which interest
has ceased
Bearing no interest
3p 7.79o .73o
Total gross debt outstanding aB of July 31, 19^1
576.556,096.
$i+9.512_i«l
•Approximate maturity value.
Principal amount (current redemption value)
according to preliminary public debt statement $4,610,41+9,726.
M - r
?
August 5, 1941.
STATUTORY DEBT LILITAT
AS of.juLT~5irrg4i—
D
Section 21 of the Second Liberty Bond Act, as amended, provides
that the face amount of obligations issued-under authority of that
Act 'shall not exceed in the aggregate $65,000,000,000 outstanding at
Aliy one time.
The following: able shows the face amount of obligations out
standing and the face amount wliich can still be issued under this
limitation:
Tot^.1 face amount of bonds, savings bonds, certificate;
bills, notes, savings certificates, stamps, etc.,
which may be outstanding at any one time
Outstanding as of July 31, 1941:
Interest-bearing :
Bonds Treasury
¡>30,215,058,700
Savings (maturity
value)*
5,800,801,350
Depositary
40,214,000
Adjusted Service
739,018,756
Treasury notes
i 9,169,889,500
Certificates of
indebtedness
2,352,000,000
Treasury bills
(maturity value)
1,603,332,000
Matured obligations on
which interest has ceased
Face amount of obligations
issuable under above authority
,000,000,Q0C
$36,795,092,806
13,125,221,500
$49,920,314,306
167,021,350
50,087,335,65C
$14,912,664,34<
Reconcilement with Daily Statement of the United States Treasury
‘• JuTÿTl,.1941
Total face amount of outstanding public debt obligations
issued under authority of the Second Liberty Bond Act,
as amended
$50,087,335,651
Deduct, unearned discount on Savings bonds (difference
between current redemption value and maturity value)
1,151,351,62'
$48,935,984,031
Add ether public debt obligations outstanding but not
subject to the statutory limitation:
Interest-bearing (Pre-War, etc.)
$ 196,046,600
Matured obligations on which interest
has ceased
12,712,760
Bearing no interest
367,796,736
Total gross debt outstanding as of July 31, 1941
576,556,096
$49,512,540,12£
♦Approximate maturity value. Principal amount (current redemption value)
according to preliminary public debt statement $4,649,449,726.
26-87
X L :
¡L
$ $
O ^ «"WN
Sisrf
**
*
'TREASURY DEPART!!!iff
Washington
Press Service
No. 26-88
t—b
This report on Traffic In Opium and Other Dangerous Drugs
for the year ended December 31, 1940, by the Bureau of Narcotics,
U.S. Treasury Department, is for release to afternoon newspapers,
Friday, August 8, 1941.
-OoO-
U. S. TREASURY DEPARTMENT
BUREAU OF NARCOTICS
T R A F F IC IN O P IU M
AND
OTH ER
D ANGERO US DRUGS
FOR THE
YEAR ENDED DECEMBER 31, 1940
REPORT BY THE GOVERNMENT OF THE
UNITED STATES OF AMERICA
UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON : 1941
For sale by the Superintendent of Documents, Washington, D. C.
Price 25 cents (Paper)
TABLE OF CONTENTS
A.
GENERAL
Page
1
New legislation..--^--^----:- - - ------ — ---------- ------------------Uniform Narcotic Drug Act-----------------------------------------1-2
Proposed amendment to------ ---------------------------------17
II. Administration _B_-----r --------------- --------- - — -------------- ,2
Chart showing_______________ - - - ____ — — T— opposite
Drug Addiction- ———__-------------- - -------- - — - — .------ . 2-;Sl
®
III. Control of international trade------ ---------- ------------------------ - - 8
Chart showing control---- .----| — ----------------------- opposite
IV. International cooperation------------ — ---------------------- :--------- 9
V. Illicit traffic——- —- —S—.-— ___ _ __------- -— •----------Raw o p i u m . --- — ______ _ — _______—
9-10
Prepared opium — _---- j |-------------------------------------------- 10-12
Morphine------------------- .--------- ----------------------------------- 12-13
Heroin--- -------- ii------------------------------------------------------ 13-14
14
Cocaine____ -it------------ ---------------------------------------------Codeine-------------------------14
Marihuana (Cannabis sativa L.)-----------------------------14, 15, 49-51
Developments in the trend of the traffic---------------------------- 15-16
Analysis of illicit traffic---------------16-19
Adulteration---------'—-------------------- ------------ --------------19
Drug-law violators in Federal prisons------------------------------19
Seizures and violations-------------------------------------------------21, 22
Examples of seizures---- —jj----- ?----- -----------------------------22-45
Atlantic coast area-----------------------------------------------22
Pacific coast area-------------------------------------------------29
North-South Central area--------------39
43
Hawaiian Islands-------------------------------------------------Illicit traffic by post, express, railway, and air------------------45
Diversions---------------------------------------------------------------46
Illicit traffic in marihuana (Cannabis sativa L.)------------------49
VI. Other information-----------------------------------------------------------33
Educational work------------------------------------------------------53
Courts. —------------------------------------------------------------54
Recidivism in narcotic law violators-------------------------------54
Deportation of aliens--------------------------------------------------55
Vehicles seized----------------------------------------------------------56
State boards-------------------------------------------------------------57
Lost order forms----- -------------------------------------------------57
Thefts____________________________________________ —
58
I.
B. RAW MATERIALS
VII. Raw opium-------------------------------------------------VIII. Coca leaf______________________
IX. Marihuana (Cannabis sativa L., Indian hemp)-----------------------Research work on marihuana----------
m
58
58
59
59
CONTENTS
IV
C.
X.
MANUFACTURED DRUGS
1. Internal control of manufactured drugs____________ ____ —
2. Licenses______________________________________________
3. Manufacture---------------------------------------------------------------4. Trade and distribution__________________________________
Consumption_____ _________________________________
D.
XI.
XII.
X III.
Page
61
63
63
64
66
OTHER QUESTIONS
Chapter IV of The Hague Opium Convention of 1912.........
Prepared opium--------------------------------------------------------------Other drugs__________________________ __________________
65
65
66
APPENDIX
Statistical tables_________________________________
67
List of countries parties to international opium conventions_____ 87, 88
age
61
63
63
64
65
65
65
66
67
88
LETTER OF TRANSMITTAL
T reasury D epartment,
B ureau of N arcotics,
Washington,April 1,1941.
The H onorable the S ecretary of the T reasury.
S ir : I have the honor to transmit, in accordance with Article 21 of
the Convention of 1931 for Limiting the Manufacture and Regulating
the Distribution of Narcotic Drugs, the report of the Government of
the United States on the Traffic in Opium and Other Dangerous Drugs,
for the calendar year ended December 31, 1940, in the established form
for distribution through the Secretary of State to the nations signatory
to the International Drug Conventions of 1912 and 1931. Copy of
this report will be transmitted to Congress as required by the act of
June 14,1930.
Respectfully,
H. J. A nslinger,
Commissioner oj Narcotics.
REPORT BY THE GOVERNMENT OF THE UNITED STATES OF
AMERICA FOR THE CALENDAR YEAR ENDED DECEMBER
31, 1940, ON THE TRAFFIC IN OPIUM AND OTHER DANGER
OUS DRUGS
A. GENERAL
I. Laws and Publications.
The usual Federal law, enacted annually, making an appropriation
for narcotic enforcement was approved March 25, 1940, and allotted
the sum of $1,303,280 for the enforcement of the Federal narcotic
drug laws for the fiscalyear ending June 30,1941.
The revenue accruing to the Government from application of the
Federal narcotic laws for the year 1940 was $1,337,090.25, made up as
follows:
Customs duties on opium released to manufacturers________ __ $520, 209. 90
77, 647. 01
Customs duties on coca leaves imported__________________ —
Internal Revenue collections—registrations, tax stamps, order
forms—on opium, coca leaves, and marihuana_______________
574, 753. 06
Paid fines and compromises_______________________________
51, 174. 28
Value of seized cars______________________________________
113, 306. 00
Total_____________________ _____________________ - 1, 337, 090. 25
The act of Congress approved June 28, 1940, amended the immigra
tion laws so as to provide for the deportation of any alien convicted
for violation of or conspiracy to violate any narcotic drug or marihuana
law of the United States or of any State, Territory, possession, or the
District of Columbia.
U niform N arcotic D rug A ct
N o additional States adopted the Uniform Narcotic Drug Act
during the year. Prior to 1940 it had been adopted in 39 States, in
the District of Columbia, and in the Territories of Hawaii and Puerto
Rico.
The act proves very valuable in coordinating enforcement machinery
through mandatory cooperation of State and Federal officers, and it is
therefore hoped that the following States will pass it at the forth
coming sessions of their legislatures:
ST A T E S W H ICH H A V E N O T P A SS E D TH E U N IFO R M NARCOTIC DR U G ACT OR
O TH ER A D E Q U A T E NARCOTIC L E G ISLA T IO N
Kansas
Maine
Massachusetts
New Hampshire
North Dakota
Vermont
Washington
3
TRAFFIC IN OPIUM
2
The States of California,1 Pennsylvania,1 Indiana, Illinois, N e w
York, Connecticut, Florida, and Ohio are commended for the work
they have done during the year on the narcotic problem. Iowa and
Kansas have made excellent progress on marihuana eradication pro
grams.
O n July 1, 1940, the State of California placed into effect corrective
legislation to check the prescribing of drugs to addicts by physicians,
the filling of such prescriptions by pharmacists, and the procurement
of drugs by addicts by means of forged prescriptions. In a check-up in
October 1940 it was disclosed that an unusually large amount of nar
cotics was being supplied to individuals throughout the State, many
prescriptions were being written for addicts well known to the State
Division, addicts were procuring narcotics from two or more physicians
at the same time, and addicts were using different names with various
physicians. The Chief of the California Division of Narcotic Enforce
ment reports that the results already procured by this new legislation
are gratifying.
II. Administration.
N o changes were made during the year in the administrative arrange
ments for the implementation of the international conventions, the
Bureau of Narcotics, under the supervision of the Commissioner of
Narcotics, being charged with these responsibilities. A chart showing
the present organization and principal functions of the Bureau is
shown on the opposite page.
D ecrease
in
D rug A ddiction 2
(To opium and its derivatives and the coca leaf and its derivatives)
Reports such as those quoted below, which have been received from
many reliable sources during the year, indicate that drug addiction
in the United States is steadily decreasing, and that there are few
instances where an individual has recently acquired a drug habit.
The number of nonmedical drug addicts known to the authorities is
estimated at not more than 1 in every 3,000 of the population, a reduc
tion of at least 66 percent in the past two decades.
T
y p ic a l
Sta tem en ts
R e c e iv e d
F r o m P o l ic e
Y ear
D
epartm ents
T hroughout
the
Bellingham, Wash.—“There are two known drug addicts here.”
Yakima, Wash.—1“Between 1935 and 1940 there has been practically no local
narcotic traffic whatsoever, with the exception of a few marihuana cases.
Montesano, Wash.—“The narcotic conditions now obtaining in this locality
exhibit an almost total lack of addicts. Within narrow limitations marihuana
i California and Pennsylvania have adequate narcotic legislation other than the Uniform Narcotic Drug
Act.
* See also Analysis of Illicit Traffic on p. 16.
BUREAU OF NARCOTICS
TREASURY1DEPARTM
ENT
COM
M
ISSIONER
TheCommissioner, under the directionandsupervision
of the Secretary of the Treasury, has general super
vision of the enforcement of the HarrisonNarcotic
Law, theMarihuanaTaxAct of 1937, andrelated stat
utes, includingthe administrationof the permissive
features of the Narcotic Drugs Import andExport Act,
andcooperates withthe Customs Bureauinthe enforce
ment of the prohibitive features of the latter act.
Healso cooperates (1) withthe State Department In
the discharge of international obligations of the
UnitedStates concerningthe traffic innarcotic drugs
and (2) withthe several States inthe suppressionof
the abuse of narcotic drugs intheir respective juris
dictions.
FIELDINSPECTIONANDSPECIALREPRESENTATION
Field Inspectors examine field offices, install
uniformmethods of organizationandprocedure,
andreport the conditionof narcotic lawenforce*»
mentwithinthe several districts. Special rep
resentatives act as liaison officers, contacting
Federal andState officials, civic organizations,
andothers, in order to secure enactment of the
UniformState Narcotic Law, other effective nar
cotic legislation, andthe cooperationof judges,
prosecutors, parole boards, andState licensing
b
oeanrd
m
t.s in matters affecting narcotic lawenforce
ADM
INISTRATIVEDIVISION
Has charge of all matters pertaining to
organizationandgeneral administration.
M
ISCELLANEOUSSECTION
Performs suchcustodial andmessenger
services as are required.
CHEM
ICALRESEARCH
Assists the Commissioner of Narcotics generally in
the administrationof the Federal Narcotic Laws and
acts as Commissioner of Narcotics inthe absence or
disability of the Commissioner, Supervises adminis
trative andPermissive Control functions of the Bureau,
Has charge of matters involving interpretationof the
Narcotic Drugs Import andExport Act, HarrisonNar
cotic Law, SmokingOpiumLaw, MarihuanaTaxAct,
other statutes, decisions andregulations; the legal
reviewof all violation cases andactionthereon;
a
ndmain
info
term
nanactio
en
of. records anddigests of narcotic
legal
PERSONNELSECTION
Handles matters pertainingto personnel,
time, pay, leave andefficiency ratings.
TheEnforcement Division, incharge of anAssistant to
the Commissioner, directs all investigations of vio
lations of narcotic laws, whichare conductedthrough
15 enforcement districts, eachin charge of a district
supervisor, withheadquarters at Boston, NewYork,
Philadelphia, Baltimore, Atlanta, Louisville, Detroit,
Chicago, Houston, Kansas City, Minneapolis, Denver,
SanFrancisco, Seattle, andHonolulu. It maintains
criminal identification files inWashington, furnishes
penal institutions with informationnecessary to pro
per classification of narcotics prisoners andsupplies
parole boards withinformationpertinent to applica
tions for parole, pardonor other executive clemency.
DEPUTYCOM
M
ISSIONER
LEGALDIVISION
(Narcotic Section- General Counsel's Office)
FISCALSECTION
Handles matters pertaining to appropriations,
budget estimates, accounts, andgeneral
fiscal items.
ENFORCEM
ENTDIVISION
Conducts chemical researchonnarcotic drugs, methods
for their identification, isolationandassay; acts
as technical adviser to Commissioner inmatters in
volving the chemistryof narcotics; advises Drugs Dis
posal Committee intechnical matters; andmakesmiscel
la
eous assays andanalyses of narcotic of unusual
chnaracter.
DRUGSDISPOSALCOM
M
ITTEE
Examines andmakes proper disposition as pro
videdbylawof all drugs seized or purchased
a
idlen
e inticcola
nnw
es.ctionwithenforcement of
Fsedeevra
ncarco
M
AIL&FILESSECTION
Receives anddistributes incomingmail,
seals, stamps anddispatches outgoingmail,
maintains indexfiles, miscellaneous cor
respondence files andviolation files for
the Bureau.
SUPPLY&EQUIPM
ENTSECTION
Handles matters pertaining to estimates,
requisitions, purchase contracts of sup
plies, equipment, printing andbinding,
maintains automobile operating records,
etc.
RETURNSDIVISION
Has charge of matters pertaining to the
importation, exportation,’ manufacture,
storage anddistribution of narcotic
drugs throughlegitimate channels fbr
medical andscientific purposes.
ABSTRACTANDSTATISTICALSECTION
AUDITSECTION
Maintains records of narcotic purchases
of retail dealers andpractitioners «nri
institutes investigations of suchregis
trants in cases of suspecteddiversion of
narcotic drugs to illicit channels; pre
pares statistical data andcompiles reports
of d
omestic andinternational traffic in
narcotic drugs, maintains anaccounting for
narcotic drugs seizedor purchasedas evi
dence andstatistical records of enforce
m
ent activities,
viction
s, etc. arrests, violations, con
Handles matters relating to the audit and
administrative examinationof monthlyand
quarterly returns renderedby importers,
manufacturers andwholesale dealers innar
cotics; directs inspections andinvesti»
gâtions of suchestablishments; andhandles
matters relating to the proper storage and
safeguardingof narcotic stocks.
IM
PORTANDEXPORTPERM
ITS
Handles matters relating to importations,
exportations andih-transit shipments of
narcotic drugsthroughthe UnitedStates
andthe issuance of permits therefor.
319383—41. (Face p 2)
TRAFFIC IN OPIUM
3
cigarettes find their way here, but I would say that the almost negligible infiltra
tion of this drug is on the wane.”
Raymond, Wash.—“There seem to be no addicts here outside of those with
cancer, etc. During the twenties there were quite a few addicts.”
Anacortes, Wash.—“We have had only one real case of drug addiction in the
last 20 years. I believe the woman is dead now.”
Centralia, Wash.—“We know of no one locally who is addicted to drugs at
present.”
Chehalis, Wash.— “Drug addiction is confined to transients who are usually
kept moving.”
Colfax, Wash.—“We have one medical case.”
Kelso, Wash.—“At the present time we have, about six known drug addicts in
this city.”
Kent, Wash.—“There are at present no known drug addicts or dealers among
our population.”
Mount Vernon, Wash.—“To my knowledge there are no narcotic addicts in
Mount Vernon.”
Olympia, Wash.—“We have no known addicts except transients. There are a
few possible medical cases.”
Pasco, Wash.—“There are reportedly a couple of users in this town.”
Port Townsend, Wash.—“Once in a while rumors originate about narcotic
traffic but on investigation are found to be false.”
Shelton, Wash.—1“There are no drug addicts in town now to my knowledge.
We have one or two stop once in a while, but they do not stay very long.”
Walla Walla, Wash.—“In past years we have made several raids on narcotics,
but in recent years the narcotic situation has been practically nil.
Wenatchee, Wash.—“I only know of one case of drug addiction.”
Toppenish, Wash.—“In 1920 there were around 40 drug addicts and drugs
could be obtained very easily. Outside of a few plants of marihuana grown here
we know of no drug activities or addicts in or around Toppenish at the present
time.”
S3
.,
Spokane, Wash.—“It is quite evident that the traffic in narcotics is considerably
less now than it was 20 years ago.”
Ellensburg, Wash.—“From the information I have been able to gather I would
say that during the past there has been considerable drug addiction in this com
munity. At present this has changed and there is very little evidence of addiction.”
Vancouver, Wash.— “In 1920 narcotics were very easy to obtain and at that
time we had about 18 or 20 local addicts and about 3 distributors. At present
we have to my knowledge 5 habitual addicts who obtain drugs on doctor’s prescrip
tions or are using barbituric preparations caused by the scarcity of pure narcotics.
Everett, Wash.—“Number of drug addicts in 1920 was approximately 50; in
1940, approximately 12.”
Bremerton, Wash.—1'‘About 5 years ago we had four known drug addicts and
at the present time we have only one known addict.”
Seattle, Wash.—'“During the early twenties, it was a simple matter to go out
and round up in a very short period from 5 to 25 known addicts. Due to persistent
efforts to stamp out this evil, the situation is 100 percent better now. Six years
ago Seattle was unfortunate in having one of the most persistent doctor violators
that has existed in the Northwest. His operations caused an influx of addicts
from all parts of the United States. This condition resulted in a considerable
increase in larcenies in Seattle. Today there are not in Seattle more than 50
known addicts. I feel safe in saying that 90 percent of the addicts are known to
the police department. I am pleased to say that taking the situation as a whole
4
T R A F F IC I N
O P IU M
today as compared with 20 years ago, the narcotic traffic in Seattle, due to the
continued vigilance of the Seattle Police Department in close cooperation with
law enforcement agencies, particularly the Bureau of Narcotics, has been reduced
to a point where it can no longer be considered a problem.”
Tacoma, Wash.—“The situation with respect to the prevalence of drug addiction
in this community 20 years ago was quite serious. The city was infested with
many local dope peddlers of which approximately 50 were convicted in Federal
court. At the present time this situation is well in hand, due largely to the
cooperation readily rendered by the Bureau of Narcotics.”
Providence, R. I .—“ Not a single complaint relative to narcotic suspects has
reached this office and the illicit traffic is reported to be practically at a standstill.
The use of barbituric acid preparations which was quite prevalent a year ago among
certain groups who were reputed to be drug addicts has practically ceased due to
vigilance on the part of police officers who cautioned all druggists as to precautions
to be taken.”
Washington, D. C.—“It is well apparent that the supply of illicit narcotic
drugs has been greatly depleted in recent months. This has been brought about
through the arrest by members of our two Bureaus of the persons responsible for
the distribution of these illicit drugs. Arrests of this kind are now on the decline.
Numerous former habitual drug addicts have told our officers that they have
stopped the use of drugs because of the fact that the small quantity of drugs
available is so highly adulterated that they cannot afford to use them. I have
also noted in recent months a decided decline in the number of drug addicts
appearing in our regular police lineups.”
C om m ents of a D ist r ic t S u p e r v iso r of t h e B u r ea u of N arcotics
I have been in direct contact with narcotic conditions for 40 years. Condi
tions prior to control legislation 3 were such that the sale, distribution and use of
narcotic drugs was regular routine business. The result was thousands of cases
of addiction. In one section of the small city in Michigan where I was reared,
there were about 50 addicts. After narcotic enforcement became effective I
could find only 3 or 4 drug addicts in the same locality. There has not come to
my attention in any district over which I have had jurisdiction in the last 6 years
more than 2 or 3 cases where an individual had recently acquired a drug habit.
We need only to survey the few drug addicts today as compared with the
number 25 years ago to determine the change for the better. With the continued
support of the public, the various groups of peace officers and courts, the Bureau
of Narcotics will continue to reduce drug addiction to practical nonexistence.
This will be true if our limited resources are not curbed in the belief that the danger
is past. Only a few months of throwing the gates open to the flood would be
necessary for this vice to spread again to the shocking proportions it had reached
25 years ago.
The following letter shows the situation which has recently arisen
when drug addicts, unable to obtain heroin or morphine because of
scarcity, dilution, or prohibitive price, resort to the use of the various
barbituric acid derivatives to satisfy their craving:
T h e C ity of O klahom a C it y , January S, 1941.
F ed e r a l N arcotic A g e n t ,
Oklahoma City.
D e a r S i r : In reference to our conversation, a check of our files discloses 61
old time narcotic users arrested during 1940 who had in their possession or were
• Act of December 17,1914, known as the Harrison Narcotic Law.
TRAFFIC IN OPIUM
5
under the influence of derivatives of barbituric acid. I also find that during 1940
there were about 75 arrests of nonusers of a narcotic drug that were under the
influence or had in their possession derivatives of barbituric acid, 5 of which were
arrested in automobiles trying to drive under the influence of this drug which in
my opinion is more dangerous than trying to drive under the influence of alcohol,
owing to its paralyzing effect.
Capt. W a l t e r A c o r d ,
Vice Bureau.
The narcotic agent in Oklahoma City who transmitted Captain
Acord’s report stated that one of these former drug addicts is suffering
from barbituric acid poisoning. The addict had been unable to
secure any morphine derivatives for some time.
The following is one of many reports received during the year show
ing that the drugs now obtainable on the illicit market are so highly
diluted that they do not establish a real tolerance for the drug, and
also showing how addicts are now resorting to substitutes for drugs:
D
C o m m is s io n e r
of
N
B o a r d o f P u b l ic W e l f a r e ,
C o l u m b ia P e n a l I n s t i t u t i o n s .
is t r ic t o f
a r c o t ic s ,
Washington, D. C.
During the past 6 months I have noticed a considerable decline in
the number of drug addicts passing through these institutions who suffer from
acute withdrawal symptoms. Prior to this period we have had many admissions
of drug addicts, and it is significant that in nearly every instance very acute
withdrawal symptoms were evident.
These factors were so noticeable that I started an inquiry among both male
and female addicts as to the possible reason for this. The general trend of their
replies was to the effect that the drugs were very difficult to procure because of
the fact that many of the known peddlers and contact men had been arrested
and taken out of circulation. They also seem to be in agreement that the nar
cotics they are able to procure are adulterated to an unusual degree and the
prices are ridiculously high. I have observed that many of the addicts admit
tedly resorted to the use of barbituric acid derivatives as substitutes for nar
cotics. I also noticed that there was little desire on their part to persist in the
practice but for short periods, mainly I believe because the injection of these
compounds is very irritating to the tissues and I have seen many instances where
large sloughs and numerous abscesses have been produced over short periods.
This fact as well as the prohibition of barbiturates recently enacted which requires
prescriptions for these compounds have been discouraging factors to the drug
addicts.
In recent months I have noticed many former drug addicts committed here
for various offenses who still have scars over their veins, but suffer no withdrawal
symptoms. They state in general that they have given up the habit because of
the existing conditions.
I have concluded from further questioning of the addicts suffering from with
drawal symptoms that new devices are being resorted to by them as a whole
such as the forging of physicians’ prescriptions and the raising of those obtained
under various pretexts. The addicts that I have questioned also seem to be in
agreement that heroin is becoming increasingly difficult to procure and what
D
ear
Sir :
6
T R A F F IC I N
O P IU M
small amounts are available contain but a small quantity of the active drug,
generally of a poor quality and the prices are very high.
Very truly yours,
W a l ter K. A n g e v in e , M. D.,
Medical Officer.
The fact that cocaine addiction has practically disappeared in the
United States is borne out by the following conclusions of the United
States Public Health Service:
S e p t e m b e r 6, 1940.
Dr. W a l t e r J. B r ist o w ,
Columbia, S. C.
D e a r D r . B r ist o w : Your letter of August 10 concerning cocaine addiction
has been referred to the Public Health Service for consideration and reply.
You are advised that in my experience pure cocaine addiction is now very rare,
if not actually nonexistent, in this country. There are, of course, some persons
who take cocaine now and then when they can secure it, but cocaine is mostly
indulged in by these persons in much the same way as some people get drunk on
Saturday or on week ends. According to studies I made some years ago most
persons who start to use cocaine eventually become addicted to morphine or
heroin through taking these drugs to relieve themselves from the distressing effects
(anxiety and restlessness) caused by cocaine, but even this type of temporary
cocaine addiction is now quite rare. I had charge of the Lexington narcotic
hospital for three years and during that time there were no cases of pure cocaine
addiction admitted and I am not aware of any that has been admitted since then.
There were, however, some cases who had indulged in cocaine off and on at some
time during their addiction career.
By direction of the Surgeon General.
Respectfully,
L a w r en c e K olb ,
Assistant Surgeon General, Division of Mental Hygiene.
In commenting editorially on the traffic in narcotic drugs, the
American Medical Association in its Journal dated December 28, 1940,
stated:
The Journal commends the enlightened and effective administration of the
Bureau of Narcotics. A record such as that here reported (the article summarized
accomplishments of the Bureau of Narcotics) indicates effective control. The
cooperation of the medical profession has been freely and fully rendered, owing
no doubt to recognition by the medical profession of the desire of the Bureau
to destroy criminal practice without undue interference with the legitimate pre
scription of narcotic drugs. Complete cooperation with the Bureau by State
licensing agencies will do much to further this significant work.
D rug “ C linics”
or
F eeding S tations
Case of Dr. Henry John Nelson, Mangum, Okla.
O n November 14, 1940, narcotic agents reported Dr. Henry John
Nelson who was in charge of dispensing narcotic drugs in the CoOperative Hospital in Mangum, Okla., for violations of Federal nar
cotic laws. Dr. Nelson was conducting a virtual “clinic” or drug
feeding station for numerous addicts having no medical need for drugs.
TR A FF IC I N
O P IU M
7
In less than a 2-year period he had purchased 19,500 one-quarter grain
tablets of morphine sulphate, only 1,497 of which could be accounted
for as having been administered by nurses to patients in the hospitals
During the same period, 10 other physicians and all the drug stores
in M a n g u m combined purchased 8,100 tablets. So-called “prescrip
tions” for drugs in “treatment” of drug addiction were written by
Dr. Nelson for the same addicts under many different names, and
others were written in the names of persons who did not even know
the doctor.
Dr. Nelson was convicted on 19 counts of an indictment charging
him with violations of the Federal narcotic law. Dr. Nelson was
sentenced to 3 years imprisonment and to pay a fine of $1,000.
CONTAGION OF ADDICTION AS EXEMPLIFIED IN ONE FAMILY
The Seattle Post-Intelligencer on October 21, 1940, published a
timely analysis in connection with the bills presented at the last two
sessions of the Washington legislature proposing that the State set up
“clinics” to dispense narcotic drugs at cost to addicts.
After reviewing the progress which has been made by the United
States Government in substantially reducing drug addiction, and con
trasting therewith the fallacy of setting up “clinics,” the article
entitled “N e w Facts on the Dope Problem” continues:
A fair judgment would seem to be that the present laws, State and Federal,
restricting the production, sale, and use of narcotics, have reduced addiction
sharply, perhaps to a point near the irreducible minimum. The problem of curing
present addicts is a separate and baffling one. The evidence tends to indicate that
patients are cured, from a medical standpoint, when they are discharged from
Government hospitals, but the tendency is for them to relapse as a result of renew
ing associations with uncured addicts.
TRAFFIC IN OPIUM
8
In any event long steps have been taken toward meeting the major problem.
It is clearly no time to upset the present system as a whole and attempt to make
the State of Washington a haven for the Nation’s addicts.
III. Control of International Trade.4
Opium and cocaleaves.— The system of import certificates and export
authorizations in force for the control of imports and exports of opium
and coca leaves and their salts, derivatives, and preparations has
operated satisfactorily in 1940; and no cases involving forged or falsi
fied import certificates or export or in-transit authorizations have come
to the knowledge of the Government during the year.
N o changes were made during the year as to the authority respon
sible for issuing import certificates or export and in-transit authoriza
tions,all of which are issued by the Commissioner of Narcotics. There
was likewise no modification in the conditions of issue of such docu
ments, these being controlled by the Narcotic Drugs Import and
Export Act.
Endorsements of export authorizations, in accordance with the pro
cedure recommended in the Model Administrative Code, have been
received during the year from Australia, British Guiana, Canada,
Cuba, Curacao, England, Finland, Hong Kong, India, Mexico, N e w
Zealand, and the Union of South Africa. Applications for permits to
export quantities of morphine, codeine, cocaine, and dionin, to Argen
tina, the Belgian Congo, N e w Guinea, and Saudi Arabia, were denied
during the year inasmuch as these countries are not parties to the
International Opium Convention of 1912. Adherence to this conven
tion is required by the Narcotic Drugs Import and Export Act as a
condition precedent to the issuance of a permit for the exportation of
narcotics from the United States.
In-transit authorizations are issued on the merits of the particular
case, but in general the requirements relating to exports are applied,
the factor of principal consideration being a satisfactory import per
mit issued by the appropriate authorities of the impoiting country.
Permission was granted during the year for 87 in-transit shipments,
all through the port of N e w York, based on import authority from the
countries of destination.
Cannabis.— The Federal marihuana legislation provides for Federal
control of cannabis and its preparations, and the regulations issued
under that legislation provide for export authorizations for such
products. However, no authorizations were issued for the exportation
of cannabis or its preparations during 1940. Importations of cannabis
are subject to a revenue transfer tax, generally regarded as prohibitive,
and it is not expected that any commercial importations of cannabis
or its preparations as covered by the international conventions will
be made. One permit was issued for the in-transit shipment, through
* See chart on opposite page.
SUPERVISION OF THE LEGITIMATE MANUFACTURE AND DIS TRIBUTION OF NARCOTICS
IN THE UNITED STATES*
ESTIM
ATES
The Commissioner of Narcotics makes Annual Esti
mates of Americanneeds for rawopiumandcoca leaves
andsubmits these estimates to the international drug
authorities at Geneva* Under our treaty obligations
these established estimates maynot be exceeded* Bothimportations of materials andmanufacture of narcotics
are therefore limited*
ALLOTM
ENTSANDQUOTAS
The totals of the estimates are dividedbetweenthe
qualified andauthorizedAmericanmanufacturers for im
portationof the rawmaterials andmanufacture of the
narcotic derivatives*
RAWCOCALEAVES
^✓ AjvPpca/leaves, produced in Java
■ 'and,*Pertp/ar§collected at the mar
kets of
Trujillowhere
theyare purcha'sedby AmeriU’aumanufacturers for importation into ifce--*
UnitedStates*
IM
PORTATIONSUNDERPERM
IT
Opiumandcoca leaves are importedunctoyosvjsits
issued by the Commissioner of Narcotics agft
per
mits issuedbythe governments o£theJp£p0^t^gcoring
.Separatej><
ationaiu bfeejHt&giha:
>
permit must accompany
v
.
IM
PORTEXAM
INATION f
Opium,produced inthe poppy
fields of Jugoslavia andTurkey, is
eollectedat the opiummarkets
Belgrade andIstanbul where itffs c
purchasedbyAmericanmanufacturers
for importation into the UntiedStates c
)
l
\j
* When reo3i4fed a t th e p o rt o f im p o rv th e shi;
Examined by th e C o lle c to r , th e c o n te n ts ar& sjrel
the opium assayedyto determ ine i t s morphine (ci
Phis w eight and assh y a re re p o rte d t o th e Cobb
3f N a rc o tic s and becbqes t h e b a s is f o r fu tu r e ac<
fo r t h e m a te ria ls andrfcrugs*
W
ITHDRAW
AL'—
Coca leaves, which'£fô\JLwportedpûly'as^n^ede]
delivered tojg&acrfacturersNi^&edlatelyoniaposftat
OpiumJ.s.-'iflpbrtedin advance^O^need^, as a nacfc$oj
Motion, andstored in Custoniqbonded/w^rehous«
whence it is releasedby the Commissioner fts^thenoun*
try’s medical needs mayrequire*
v— 1 1
ORIGINALM
ANUFACTURE
Manufacturers whoImport opiumandcoca leerafe' and
extract the basic alkaloids therefrom, submit quarterly
returns accountingfor manufacturingoperations, anSx
monthly returns accountingfor all merchandisingoperL
ations* These returns are carefully audited inthe j
office of the Commissioner, andare supplementedby )
inspections of manufacturingplants and inventories of
stocks* Finishedproducts are sold principally to phar
maceutical manufacturers, but sales are also madedlirect
to wholesalers, andother registrants* Someproducts
are exported*
i
W
HOLESALEDISTRIBUTION
Wholesale dealers - whopurchase narcotic drugs,
andpreparations in original stampedpackages and
distribute suchpackages intact to retail druggists,
practitioners andhospitals - render monthlyreturns
accounting in detail for all purchases andsales of
suchdrugs* These returns are carefullyaudited in
the office of the Commissionerandare supplementedby
inspections of thewholesale establishments andinven
tories of their stocks* Wholesalers mayalso make
occasional exports.
M
ANUFACTURERSOFEXEM
PT
PREPARATIONS
Persons procuringnarcotic
drugs for manufacture into preparations of lownarcotic content
exemptedunder the narcotic laws,
must keepfor a period of 2 years,
records accounting for the narcotics so received andusedand
of the exempt preparations sold.
These records are subject to
inspection at anytime bynarcotic
officers.
RETAILDEALERS
Retail druggists are not requiredto render returns but all 'N
purchases madebythemshowupas
sales in the returns of manufacturers andwholesalers fromwhomthe
drugs are obtained. Anyexcessive
purchases of narcotics are duly
investigated. Sales are made by
retail druggists only pursuant to
physicians* prescriptions and such
prescriptions must be kept in*a
separate file for at least two
years where theyare subjbct to
frequent inspection, as maybecome
necessary, by narcotic officers.
_ byone''»^
✓‘\All sales
✓ ^registrant to another‘s
must be acconxliahed by use"’
of special, oTficial order
forms issuìid
<by Interne Colley**'
nal Rtors
eveu
//
\V
PHARM
ACEUTICALREM
ANUFACTURE
Pharmaceutical manufacturers whopurchase the basic
alkaloids for manufacture into pills, tablets, ampoules
andother medicines andpreparations informs suitable
for use bythe patient, render monthlyreturns account
ing indetail for all manufacturing, packaging andmer
chandisingoperations* These returns are carefully
audited in the office of the Commissioner andare sup
plementedby inspections of the plants andinventories
of the stocks. Thefinished products are sold primarily
to wholesale dealers,for distribution but sales are also
madeto retail..druggists, practitioners andhospitals.
Someproducts ar e exported.
PRACTITIONERS
HOSPITALS, CLINICS, ETC.
Physicians, dentists, veterin
Hospitals, sanitaria, clinics,
arians andother practitioners are etc., are not required to render
not required to render returns but returns but all purchases madeby
all purchases madebythemshowup themshowupas sales inthe re
as sales in the returns of manu
turns of manufacturers andwhole
facturers andwholesalers fromwhom salers fromewhomthe drugs are ob
the drugs are obtained. Any excess tained. Excessive purchases are
ive purchases of narcotics are duly investigated. Suchinstitutions
investigated. Records must be kept are required to keeprecords of
of all purchases anddispensing of all narcotics purchasedanddis
narcotics, andthese must be retain pensed. These records are require(
edfor at least twoyears where
to be retained for at least two
theyare subject to inspection, as years where they are subject to
frequently as maybe necessary, by inspection, as frequently as may
narcotic officers.
become necessary, bynarcotic
officers.
EXPORTS
Narcotic drugs are exported
under permits issued bythe Com
missioner. Before suchexport per
mit canbe issued the applicant
must present animport permit
issuedbythe government of the
country to whichthe drugs are to
be exported, andmust otherwise
complywiththe requirements of
the international conventions and
the Import andExport Act.
319383—41 (Face p. 8)
TRAFFIC IN OPIUM
9
the port of N e w York, of a product containing cannabis, consigned
from France to Panama.
R eserve S tocks
of
Opium
Before the Mediterranean Sea was closed to shipping on account of
the war, the Secretary of the Treasury, Hon. Henry Morgenthau, Jr.,
had the foresight to obtain a 3 years’ supply of crude opium to take
care of the medical needs of the United States. This opium is stored
in the Treasury Department gold vaults.
From these reserves, the Treasury Department has supplied nar
cotic drugs for the sick and injured of many countries whose supplies
have been cut off due to the war.
The quantities of opium and coca leaves imported and of narcotic
preparations exported during 1940 are shown in tables 9, 9-A, 10, and
16, pages 80, 81, and 86.
IV. International Cooperation.
N o international treaties or additional arrangements for the infor
mal direct exchange of information in regard to the illicit traffic were
concluded during the calendar year 1940. Arrangements of this kind
are in effect between the United States and 21 other governments.
The American Government appreciates the cooperation extended dur
ing the year by enforcement officers of other countries, especially the
close cooperation of Canada.
V. Illicit Traffic.
The illicit traffic in narcotic drugs in the United States of America
and its possessions displays such varying characteristics in different
portions of the country that it has been found convenient to review
the situation separately in connection with each drug in the following
areas:
1. The Atlantic coast area.
2. The Pacific coast area.
3. The North-South Central area.
4. The Hawaiian Islands.
5. The Philippine Islands.®
R aw Opium
Based on seizures effected, it would appear that there were few
heavy arrivals of raw opium in the United States. In the Atlantic
coast area, there were made only two seizures of consequence of raw
opium. The largest individual seizure was effected at Calexico,
Calif., and consisted of 10 pounds 5 ounces (4 kg. 677 gm.), net, of
raw opium. This opium was of Mexican origin and was smuggled
5 Separate report on the traffic in opium and other dangerous drugs is submitted by the Commonwealth
of the Philippines.
10
TRAFFIC IN OPIUM
into the United States at Nogales, Ariz., from Culiacan, Mexico, via
Nogales, Sonora, Mexico. The seizure next in importance was that
involving 161 ounces (4 kg. 564 gm.), net, of raw opium, effected at
Douglas, Ariz., which resulted from a conspiracy investigation origi
nating in N e w York City. Narcotic and customs officers participated
in this seizure. The opium was of Mexican origin. A seizure of 7
pounds 5.31 ounces (3 kg. 326 gm.), net, of raw opium of Turkish
origin was effected at Jersey City, N. J.
In a seizure made at N e w York City of 5 pounds 14 ounces (2 kg.
665 gm.), net, of raw opium from a Chinese, evidence was unearthed
indicating that the opium was smuggled into the United States from
Curacao.
R a w opium of Yugoslav origin, weighing 27.50 ounces (780 gm.),
net, was seized from an employee of the Appraiser’s Stores in N e w
York City. The opium had been stolen from a consignment imported
legally by an American firm from Yugoslavia.
There appeared to be fewer seizures than in 1939 of raw opium at
points on, or adjacent to, the Mexican border.
Prices of raw opium in the illicit traffic in N e w York City fell off
slightly from the extremely high level of the previous year. However,
the scarcity of raw opium is still evident, and at times, no price quota
tions were available, as there appeared to be none on the market.
Since August 1940, prices have remained constant, whenever such
figures were available, $300 being asked for 1-pound bricks. In the
South Central area, no prices have been quoted, but it is believed
that no marked change has occurred. The fact that quotations were
not available indicated that few sales were being made.
P r e p a r e d O p iu m
During the calendar year, the heaviest arrivals of prepared opium
occurred in the Pacific coast area, although the largest individual
seizure was effected in the Philippine Islands. This seizure consisted
of 500 1-tael tins of prepared opium, of a total net weight of approxi
mately 552 ounces 325 grains (15,670 gm.). The seizure next in
importance occurred at San Francisco, Calif., the opium being in
5-tael and 1-tael tins and weighing 242 ounces 292 grains (6 kg.
879 gm.), net. At Seattle, Wash., there were seized twenty-nine
5-tael tins of prepared opium, weighing 190 ounces (5 kg. 386 gm.),
net. In the Atlantic coast area,, there was only one seizure of material
importance, this occurring at Newark, N. J., and consisting of 108
1-tael tins of prepared opium, of a total net weight of 144 ounces
(4 kg. 82 gm.). A seizure of twelve 5-tael tins of prepared opium,
weighing approximately 73 ounces (2 kg. 70 gm.), was made at N e w
York City. Apparently, the opium was shipped to the United States
Small, soft metal tubes containing prepared opium seized at New York, N. Y.,
San Francisco, Calif., and Phoenix, Ariz. On the folded-over end of each tube,
the words “Hong Kong” and Roman numerals appeared; on the other side,
the words “Packing Plant Singapore.”
These tubes were similar to those understood to be packed by the British Opium
Monopoly in Singapore.
TR A FF IC I N
O P IU M
11
from Hong Kong, via the Netherlands and Curacao. At Seattle and
San Francisco, the opium seized had been brought into the countryon vessels arriving from the Far East, but in southern California,
prepared opium of Mexican origin appeared to be available at times.
At San Francisco, Calif.; Phoenix, Ariz.; and N e w York, N. Y.;
seizures were effected of small soft metal tubes of prepared opium,
each tube having stamped into the metal at one folded-over end the
words “Hong Kong” and the Roman numerals M C M X L in the case
of the seizure at San Francisco, M C M X X X X in the case of the
seizure at Phoenix, and M C M X X X I X in the case of the seizure at
N e w York. O n the other side appeared the words “Packing Plant
Singapore.” These tubes were similar to those understood to be
packed by the British Opium Monopoly in Singapore and distributed
among other opium monopolies in the British colonies and possessions
in the Far East. Tubes of the same dimensions, bearing the “Packing
Plant Singapore” stamping and the words “North Borneo— N. B.,”
were seized in the Philippine Islands in 1939.
A 6-tael tin of prepared opium, bearing the familiar “Rooster and
Elephant” impressions, was seized at N e w York City. This tin was
similar to those described in the annual report of the United States
Government on Traffic in Opium and Other Dangerous Drugs for
1935, and was, in fact, the first 6-tael tin encountered in the illicit
traffic since 1935.
Seizures of prepared opium continued to be made in the South
Central area at points on or near the Mexican border, but these
seizures were less frequent than in 1939. This opium, believed to
have been prepared from raw opium grown in Mexico, was of low
morphine content. There was evidence that Mexican opium was
available in the illicit traffic in California, but it did not seem to meet
with great popularity among addicts. There was also some indication
that N e w York traffickers were seeking to purchase supplies in Mexico.
The most common marks encountered were “L a m Kee” (Rooster
and Elephant) and “L a m Kee Ying” (Eagle brand— 1-tael tins) in the
Atlantic coast area, “L a m Kee,” “Lo Fook Kee” (in 5-tael and 1-tael
tins) in the Pacific coast area, and “Red Lion” (Lion and Globe) and
“L a m Kee Ying” in the Philippine Islands. These tins appeared to
be similar to those alleged to be manufactured in and exported from
Macao and the French leased territory of Kwangchow-wan.
With the exception of opium encountered on the Mexican border,
practically all of the prepared opium seized came from the Far East.
The total quantity of prepared opium seized during the calendar
year 1940 showed a decrease of 75 percent, as compared with the
quantity seized during 1939.
319383— 41
-2
12
T R A F F IC I N
O P IU M
The following table shows seizures of prepared opium, by years, from
1932 to 1940, inclusive:
Ounces
1932
1933
19.34
1935
1936
1937
19.38
1939
1940
--------- -- ------------------------_ _____ __________________
__________________ _______________ -.............................. ............. ................. .
.................................... .................. ............. .
........ ......... ......... ..... .......... ....
___ ____ ___ ____ _______________ ____
___________ _______ __________ __
------- ----- --- ----- ---- ---- ----------
5,220
11,982
6,085
12,485
7,807
12,150
21,270
4,113
1,024
Grains
289
31
410
245
347
58
144
92
164
Kilograms
148
339
172
353
221
344
602
116
29
Grams
006
689
537
968
347
205
982
610
41
It was apparent that the scarcity of prepared opium in the illicit
market continued and prices remained correspondingly high. In the
Atlantic coast area, the prices quoted on prepared opium per 5-tael tin
ranged from $300 to $350. In the South Pacific coast area, few price
quotations, except for small quantities, were available. At San
Francisco, peddlers often demanded as much as $2 a grain for prepared
opium. In the North Pacific coast area, on two occasions, prices of
$425 and $525 were asked for 5-tael tins of prepared opium. The
practice of selling non-narcotic substances falsely labeled as prepared
opium spread to N e w York City, where a Chinese was arrested in
possession of eight tins, simulating 5-tael opium tins, which contained
a molasses-like substance. In San Francisco, a Japanese was de
frauded of $1,700 when he purchased 70 tins of purported prepared
opium, which, in fact, contained a non narcotic substance resembling
opium.
Seizures indicated that there is still an ample supply of prepared
opium available in China, Macao, Kwangchow-wan, and Hong Kong.
Hence, the American narcotics administration continues to view the
situation in the Far East with some concern.
M
o r p h in e
Morphine was seized in each of the areas under consideration.
However, the distribution of morphine of the smuggled type (mor
phine hydrochloride) seemed to be restricted, appearing in the illicit
traffic only on the Pacific coast area and in the North Central area, in
Kansas City and vicinity. In one case, involving a joint investiga
tion by narcotic and customs officers, resulting in the arrests of several
Japanese subjects, a total of 349 ounces 34.4 grains (9 kg. 896 gm.),
net, of morphine hydrochloride was seized. This morphine was of
the so-called “cotton’’ variety and was of Japanese origin. Of the
total, approximately 189 ounces (5 kg. 358 gm.) were seized on the
Pacific coast and 160 ounces (4 kg. 536 gm.) at N e w York City,
Following the conclusion of this investigation no more morphine of
the “cotton” type was encountered in the illicit traffic during the
remainder of the year.
TR A FF IC I N
O P IU M
13
That the shortage of morphine and all drugs of addiction in the
illicit traffic was acute during the year was evidenced by the increasing
number of thefts of this drug from pharmacies and drug manufacturers
and the forging of prescriptions.
In the North Central area $200 to $365 an ounce was asked for
morphine hydrochloride with reports that none was available during
the later months of the year. In San Francisco during the year $200
an ounce was demanded with none available in the later months. In
the North Pacific coast area during the investigation of the “cotton”
morphine case referred to above, “cotton” morphine was purchased at
the low price of approximately $70 an ounce in 14-ounce lots, this pur
chase fifing made direct from the smugglers. However, following the
conclusion of these cases narcotic officers in that area were unable to
discover that “cotton” morphine hydrochloride was being sold during
the last half of the year. The total quantity of morphine seized
during the calendar year showed an increase as compared with the
quantity seized during 1939. This was due principally to the one
series of “cotton” morphine cases to which reference has been made.
H
e r o in
Heroin was found at times in the illicit traffic in most parts of the
United States. Heroin seizures, though considerable in the aggre
gate, were individually small. The largest individual seizures were
effected in the North Central area, consisting of approximately 120
ounces (3 kg. 402 gm.) of heroin either purchased or seized from
Daniel Morabito and others in an investigation which was concluded
in September 1940. Morabito was shown to be a ring leader in one
of the most important illicit drug distributing organizations operating
at that time in Chicago, 111. The next largest amount of drugs
secured in a single case was purchased or seized in connection with the
case of Michael Miller, M a x Friedman, and others, and involved a
total of 75 ounces (2 kg. 126 gm.) of heroin. These men were dis
tributing heroin on an extensive scale in N e w York City, A seizure
of pure heroin was made at San Francisco from a crew member of the
steamship President Pierce, the drug being contained in rubberized
silk bags. Investigation disclosed that the heroin was procured in
Shanghai. Several small seizures of heroin were effected at United
States ports of entry on the Mexican border, the heroin having been
smuggled from Mexico.
The traffic in red heroin pills seems to have practically disappeared
and no seizures of importance were made.
The total quantity of heroin seized during the calendar year 1940
showed a decrease in comparison with the quantity seized during
1939. There were definite indications of a curtailment in the supply
14
T R A F F IC I N
O P IU M
of heroin in most sections of the country and the degree of adulteration
increased. Early in the year in the Atlantic coast area, the price of
so-called pure heroin (about 65 percent pure) ranged from $225 to
$285 an ounce, while heroin of 10 percent purity sold at N e w York
City for $100 an ounce. Twenty-seven dollars an ounce was asked
for heroin of 2 percent. As heroin passed from dealer to dealer and
was adulterated by each one in turn, some fantastic prices were
demanded, particularly in the later months of the year— $100 an
ounce being asked for 2.03 percent heroin at Boston, and $41 an
ounce being asked for 1.33 percent heroin in N e w York. In Chicago
representative prices were $40 for 1 ounce of 3.8 percent heroin at the
beginning of the year and $60 an ounce for 1.5 percent heroin in
December. In Kansas City heroin could still be bought in December
at the rate of $100 an ounce for 4.2 percent.
c o c a in e
In the aggregate, seizures of cocaine were few and small. However,
the total quantity of cocaine seized during the calendar year 1940
showed an increase as compared with the total quantity seized during
1939. This was due to two seizures of cocaine at San Francisco,
Calif., one of over 247 ounces (7kg. 2 gm.) and the other of approxi
mately 17 ounces (482 gm.). These seizures were made from persons
coming from the Far East, the cocaine in one instance originating in
Japan and in the other instance in Shanghai. The price of cocaine in
the illicit traffic was without noticeable change, and the sale of cocaine
continued to be so small as to be without significance.
C O D E IN E
The illicit traffic in codeine continued to be negligible.
Investigation following a seizure of “Veganin” tablets containing
codeine at Nogales, Ariz., disclosed that two defendants in the case,
one known to be a drug addict, had proceeded to Nogales, Sonora,
Mexico, from Tucson, Ariz., for the express purpose of obtaining these
tablets for the satisfaction of addiction.
M
a r ih u a n a
( Cannabis
Saliva,L .)
Marihuana was seized and eradicated by Federal or State authori
ties in all of the areas under review with the exception of the Philippine
Islands; or in a total of 42 of the 48 States within the continental limits
of the United States, and in the Territory of Hawaii. (See tables
3-C, 3-D, and 4.)
There was an appreciable increase in the petty smuggling of mari
huana into the United States by seamen on vessels touching at
Central American, South American, and other ports. There was
likewise an increase in the smuggling of marihuana over the border
T R A FF IC I N
15
O P IU M
from Mexico. Due to the ease with which the plant can be cultivated
domestically, the smuggling of marihuana was of relatively small
importance. Few cases involved interstate transportation.
The abuse of marihuana in the United States consists principally
in the smoking, for the narcotic effect, of the resinous flowering tops
and crushed portions of the plant, rolled into cigarettes. The price
of the cigarettes ranged from 1 cent to $1 each, the usual price being
from 10 to 25 cents per cigarette, and the price of bulk marihuana
ranged from $5 to $50 per pound.
D
e v e l o p m e n t s in
the
T
rend
of the
T
r a f f ic
It appeared that on almost every arrival at N e w York City of vessels
making the regular run to Veracruz and to Brazilian ports, American
customs officers would discover small quantities of marihuana con
cealed in various places on the vessels in question. There also
appeared to be an increase in the petty smuggling of marihuana from
Mexico.
Information obtained during the year indicated that traffickers
continued to rely on the Far East for supplies of prepared opium.
However, raw and prepared opiums of Mexican origin were found in
the illicit traffic in the South Central and Pacific coast areas. Reports
received during the latter part of the year 1939 to the effect that
so-called “cotton” morphine of Japanese origin was being smuggled
into Pacific coast ports were confirmed during the calendar year 1940,
as a result of several seizures of considerable quantities of morphine of
this type from Japanese crew members of Japanese vessels. In one
of these cases, a large quantity of cocaine was also seized, and later
in the year, a second seizure of an appreciable amount of cocaine was
effected. However, it is believed that these were isolated cases, as
cocaine was not encountered in the illicit traffic in any appreciable
amounts. In several instances, prepared opium seized on the Atlantic
and Pacific coasts and in the Philippine Islands appeared to have been
smuggled from Hong Kong. In addition to evidence of the continued
movement of drugs, particularly raw opium, from Curacao to the
United States, mostly for the use of Chinese crew members of vessels,
seizures indicated that Curacao was also a base for the smuggling of
larger quantities of raw and prepared opium to Atlantic coast ports.
In the South Central and South Pacific coast areas, seizures of raw
and prepared opium of Mexican origin decreased slightly. This
opium was encountered in the States of Texas, Arizona, and California,
but was not as popular as opium with a higher morphine content.
Prepared opium in soft metal tubes, and apparently diverted after its
purchase from monopoly stocks in Hong Kong, was seized in Cali
fornia, Arizona, and N e w York.
16
T R A F F IC I N
O P IU M
Traffickers appeared to be dispatching their drugs in even smaller
quantities than in 1939 and few seizures were made of narcotic drugs
in commercial quantities. In most instances, attempts were made to
smuggle the drugs on the persons of crew members of vessels. Al
though prices in the wholesale illicit traffic of raw and prepared opium
were slightly lower than in some periods in the preceding year, it is
not believed that this indicated that the demands of the traffic were
fully met. In fact, it is probable that the prevailing prices were the
utmost that traffickers could afford, and were frequently so high as to
be out of reach for many addicts.
At the close of the year, morphine hydrochloride did not appear to
be available to any appreciable extent in the illicit traffic. Heroin was
available in some sections at extremely high prices and often so highly
adulterated as to be almost valueless from the standpoint of addiction.
A
n a l y s is
of
I
l l ic it
T
r a f f ic
(In opium and its derivatives)
In conformity with the regular practice instituted at the request
of the Opium Advisory Committee, there follows an analysis of the
illicit traffic, in the country as a whole, and a considered opinion on
the significance of the prices of drugs in the illicit traffic and on the
conclusions to be drawn from such price movements.
The increasing curtailment in the amount of smuggled drugs which
has reached the internal illicit traffic in the past several years, and
particularly in 1939, was even further accentuated during 1940 by
war conditions which have disrupted shipping routes. Before the
war started the illicit narcotic drug traffic in the United States had
been suppressed to the point where heroin (the favorite drug of
addiction) available in the illicit traffic was only about 5 percent pure,
and adulteration has since then gradually become higher due to
scarcity. The average addict now obtains what amounts to less than
1 grain of heroin daily. In many cases, the habit is so slight that
withdrawal symptoms are scarcely noticeable. The addict is thus
undergoing an involuntary reduction cure.
Prices of drugs on the illicit market continued at prohibitive heights
during the year, and at times evidence indicated an almost total
absence of illicit drugs in large sections of the country. Information
shows that many drug addicts are being forced to take cures for
economic reasons.
There is reason to believe that the decrease in drug addiction (re
viewed on p. 2 of this report) has closely paralleled the scarcity, pro
hibitive prices, and dilution of drugs on the illicit market.
The shortage in many sections of smuggled drugs has resulted in
additional efforts being made by peddlers and addicts to divert drugs
from medicinal sources. There was an increase both in the number
235 bottles which contained 334 ounces of paregoric purchased by one addict
in Detroit, Mich., from 74 drug stores during a 3-month period, for his own
use. He had been addicted to the use of heroin for about 14 years but has
been unable to obtain heroin since February 1, 1940, when he resorted to the
use of paregoric for the satisfaction of his addiction.
Also showing paraphernalia used in preparing paregoric for injection.
T R A FF IC I N
O P IU M
17
of robberies and in the amounts stolen from pharmacies, wholesale
houses, and other sources for legitimate narcotics. Because of the
cooperation of the legitimate drug trade in affording maximum pro
tection to large concentration of supplies, however, and also because
of close checking maintained by the Bureau of Narcotics, the total
amount of drugs thus made available to the illicit traffic was mini
mized. A significant problem which still persists is the prescribing
or dispensing by a relatively small number of physicians in violation
of the narcotic laws, of large quantities of narcotic drugs to addicts,
not in the course of bona fide medical treatment but solely to satisfy
the craving of addicts for their drug of addiction.
Considerable attention was devoted by the Bureau of Narcotics
during the year to the problem presented by those persons who
because of the scarcity, dilution or prohibitive price of heroin and
morphine, have been resorting to paregoric, other so-called exempt
preparations 6 and barbituric acid derivatives to satisfy their addic
tion. This practice has greatly increased the consumption of
paregoric.
It has therefore become necessary to remove from the exemption
provision of State narcotic acts and the Federal narcotic act, paregoric
and other preparations which might be deviated to illicituses. Letters
have been written to the Governors of those Stated having a uniform
narcotic drug act and whose legislatures meet during 1941, setting
forth the essential points of the present situation and soliciting their
cooperation in amendiiig the State laws. A similar amendment to the
Federal narcotic laws has been recommended by the Bureau of Nar
cotics for introduction in Congress. Such legislation, which would
have the effect of restricting the use of paregoric solely to medicinal
needs, is considered necessary in order to eliminate the sales now being
made to gratify addiction. It becomes even more urgent due to the
fact that this illicit consumption is unnecessarily depleting reserve
stocks of opium for medicinal needs at a time when they are difficult
to replace due to world conditions.
The following case is cited as an example of the problem presented
when narcotic addicts, unable to secure drugs in the illicit market,
resort to the use of paregoric for the gratification of addiction:
Evidence was obtained that Carlo J. Zummo, a retail druggist of
N e w Orleans, La., had made numerous sales of paregoric to addicts for
the purpose of gratifying the drug addiction of these persons. A check
of his records indicated that during a 2-year period his small drug
store which did only a very moderate regular business, had disposed
« Exempt preparations are those containing such a small amount of narcotic drugs as to he conditionally
exempted from the usual requirement of the law that narcotic drugs be dispensed on prescriptions only.
The text of the regulation and the law makes it clear, however, that this exemption is conditional—pare
goric is exempt from the provisions of the law only when sold by registered pharmacists in good faith for
medicinal purposes.
18
T R A F F IC I N
O P IU M
of over 321 gallons of paregoric. As a result Z u m m o was indicted in
M a y 1940 for violation of the narcotic laws, and upon his plea of
guilty was sentenced to imprisonment for 1 year and 1 day, fined $25
and placed on probation for 5 years. The facts surrounding this case
were reported to the Board of Pharmacy of the State of Louisiana.
Twenty-eight States have thus far passed legislation controlling
the barbituric acid preparations. It is not considered advisable for the
Federal Government to step in until all of the States have enacted
Control legislation and until there is evidence of interstate trafficking.
Total narcotic seizures (excluding marihuana) were approximately
4,578 ounces in 1940 as compared to 12,439 in 1939. (In the internal
traffic the Bureau of Narcotics seized approximately 2,292 ounces of
narcotic drugs in 1940, compared with 3,544 ounces in 1939. The
Bureau of Customs seized at ports and borders approximately 2,286
ounces in 1940 as compared to 8,895 in 1939.) These figures are most
enlightening, as they show a very large decrease in the totals of
seizures of smuggled narcotics. Prior to 1940 it was evident that the
gradual falling off in seizures of smuggled drugs was due largely to
efficient Treasury Department enforcement activities. However,
since the European war has now spread so widely as to practically stop
all shipping between the United States and the European continent,
one cannot escape the conclusion that shipping curtailment is greatly
responsible for the aggravated shortage which developed during 1940.
While the situation is, naturally, encouraging, no one should become
complacent in the belief that the enemy is conquered. Heroin is still
available in certain districts. O n the Pacific coast during 1940 an
important case (reviewed on p. 29 of this report) was made which
involved large-scale operations by Japanese smugglers after a lapse of
several years. O n the Mexican border, the situation must also be
closely watched. W h e n hostilities finally cease in Europe, an increase
in smuggling attempts m a y be expected, and enforcement officers
must be more active and alert than ever in order that narcotic condi
tions will not be allowed to revert to the undesirable levels which
existed during and after the war of 1914-18.
The following are characteristic of reports received during the
year from various district supervisors of the Bureau of Narcotics:
Detroit, Mich.— “Illicit narcotic drugs are still very difficult to obtain. Ad
dicts are approaching numerous doctors for their supply and also forging pre
scriptions. They are also continuing the use of barbituric acid preparations as
substitutes for drugs.”
Philadelphia, P a.— “The information we have is that Philadelphia and vicinity is
freer of illicit narcotics than at any time since I have been in charge of this district.”
Louisville, K y .— “There is a notable scarcity of illicit drugs on the market,
and addicts are besieging country physicians for morphine and are supplementing
T R A FF IC I N
19
O P IU M
what supply can be obtained in that manner with paregoric purchased at drug
stores. Several cases were reported involving such violations on the part of
registered dealers.”
Houston, Tex.— “During March a check by a city detective and a narcotic
agent disclosed that about 21 known local addicts who had been addicted to the
use of heroin are now using paregoric and drugs containing barbituric acid.”
Boston, Mass.— “The scarcity of heroin in the illicit market continues in this
district.”
New York, N. Y.— “The result of the dilution of the drug upon the addict has
been that of an involuntary reduction cure.”
Honolulu, T. H.— “From interviews had with various district supervisors in
the continental United States it is evident that conditions in* Hawaii are similar
to those on the mainland regarding the acute shortage of drugs in the illicit traffic.
Addicts complain that the scarcity is compelling them to take forced cures, and
when illicit drugs are available the price is so high that they are unable to purchase
sufficient to satisfy their addiction.”
San Francisco, Calif.— “In years past an ounce of morphine or heroin, or a
5-tael tin of opium, could be purchased for much less than $100. Now an ounce
of morphine cannot be bought in San Francisco for $500, or a 5-tael tin of good
opium; for less than $600 or $700. Heroin is practically unobtainable.”
Washington, D. C.— “C. H., an addict of long standing, who has just been
arrested for an attempted hold-up, states that he was released from prison about
8 months ago, and that he is not now addicted to the use of drugs; that since his
release he has not reverted to the use of drugs due to the poor grade of illicit
drugs. Another man, J. M., who had been addicted to the use of drugs for about
20 years up until the first of this year, states that he stopped using heroin because
it was so weak that it was useless. He stated he did not have much trouble in
stopping the habit like he would have had in the old days when the “stuff”
was good. He also said “If I could get good heroin or morphine again I would
probably go back to using the drugs. As it is, I won’t touch it as it has so much
other stuff mixed with it that it is dangerous’.”
A
d u l t e r a t io n
Adulteration in varying degrees has been found in the morphine,
heroin, and cocaine sold in the illicit traffic. Two hundred twentyeight separate chemical analyses of morphine seizures, 1,836 analyses
of heroin seizures, and 9 analyses of cocaine seizures were made
during jth,e calendar year 1940 to determine the percentage of purity,
and it was found that the morphine ranged from less than 1 to 100
percent pure; heroin from less than 1 to 100 percent pure; while
cocaine ranged from 63 to 98 percent pure. The average percentage
of purity was 69.33 percent for morphine, 3.31 percent for heroin,
and 97.12 percent for cocaine.
C
o m p a r is o n
of
P
N
D
a r c o t ic
r is o n s
W
it h
T
L
rug
otal
P
aw
r is o n
V
P
io l a t o r s
in
F
ederal
o p u l a t io n
On June 30, 1940, there were 21,201 persons confined in institu
tions other than United States Public Health Service hospitals at
Lexington, Ky., and Fort Worth, Tex., for convictions of Federal
offenses, 20,273 being males and 928 females. Of this total, 1,935
to
o
AVERAGE PER C EN T OF ADULTERATION OF HERO IN FO U N D IN ILLICIT TRAFFIC, [CALENDAR YEARS 1938,
1939, A N D 1940.
1938
1939
U40
T R A F F IC I N
O P IU M
I PERCENT 07
---- 1 PURITY
■ ■ ■ ■ ■
PERCENT OP
ADULTERATION
*by the time the drug reaches the addict, much of it is less than 1% pure.
TR A FF IC I N
O P IU M
21
were serving sentences imposed for violations of the Federal narcotic
drug laws, 1,550 being males and 385 females, and 459 were serving
sentences imposed for violations of the Federal marihuana law, 444
being males and 15 females. (See table 5—A.) On the same date
there were, out of a total of 584 female prisoners, 283 narcotic drug
and marihuana law violators confined in the Federal Reformatory
for W o m e n at Alderson, W. Va.
On June 30, 1940, there were 1,162 convicted narcotic drug law
violators and 109 marihuana law violators in confinement at the
United States Public Health Service hospitals at Lexington, Ky.,
and Fort Worth, Tex., undergoing treatment looking toward cures
of their addiction, all these men having been transferred to the hos
pitals from Federal penitentiaries.
S
e iz u r e s
and
V
io l a t io n s
A comparative statement of seizures, violations, and general
enforcement statistics under the Federal narcotic drug laws for the
10-year period from 1931 to 1940, inclusive, will be found in the
appendix as table 1-C.
The quantities of narcotic drugs seized under the Narcotic Drugs
Import and Export Act and customs laws and under the Federal
internal-revenue narcotic laws are also shown in the appendix in
tables 3 and 3-A. Seizures under the Federal marihuana law by
Federal officers and under local laws by State and municipal officers,
are shown in tables 3-C and 4.
The division of statistics of cases (tables 1 and 1-A) and of seizures
(tables 3 and 3-A) between the two principal Federal narcotic drug
laws is approximately accurate, although in a number of indictments
under the internal-revenue narcotic laws there were also included
charges against the same defendants for violations of the Narcotic
Drugs Import and Export Act. Customs enforcement officers in
vestigate violations of the Import and Export Act in connection
with their general duty of enforcing all customs laws. The enforce
ment statistics with reference to the Narcotic Drugs Import and
Export Act reflect, in substance, the activities of customs enforce
ment officers, while those under the Federal internal-revenue narcotic
laws reflect generally the activities of narcotic officers, of w h o m an
average number of 226 constituted the force available during the
calendar year 1940. The two enforcement branches cooperate closely
in the discovery and prevention of attempted illicit introduction of
narcotic drugs into the United States.
The Bureau of Narcotics requested the Governors of the various
States to furnish, for inclusion in this report, statistical data covering
narcotic law enforcement activities during 1940 by State officers
acting more or less independently of Federal enforcement officers.
22
T R A F F IC I N
O P IU M
In response, reports were submitted by authorities in 16 States,
namely, California, Connecticut, Delaware, Florida, Georgia, Illinois,
Indiana, Iowa, Massachusetts, N e w Jersey, N e w York, Ohio, Oregon,
Pennsylvania, Rhode Island, and Utah. Reports were also received
from the police departments in Boston, Mass.; Chicago, 111.; Detroit,
Mich.; and Philadelphia, Pa.
M a n y State and local enforcement officers collaborate with Federal
officers in the investigation of the illicit narcotic traffic, but table
2, appearing in the appendix, reflects the results of (enforcement
activity in those States which has to a great extent been conducted
independently.
E
xam ples
of
S
e iz u r e s
Resumes of the circumstances surrounding the following important
seizures illustrate briefly a few of the intricate and devious methods
employed in the illicit narcotic traffic:
S IG N IF IC A N T C A SE S OF IL LIC IT TR A FF IC IN T H E A TL A N TIC COAST A R E A
CaseofIwaJcichi Kinoshita,oileron Japanese steamship uNankai Maru”
The seizure at N e w York City on April 28, 1940, of 10 pounds
(4 kg. 536 gm.) of morphine hydrochloride was the largest individual
seizure of morphine effected within the continental limits of the United
States during the year. This seizure resulted from an investigation
on the Pacific coast which will be reviewed under cases of illicit traffic
in that area. The investigation in N e w York led to the arrest by
customs officers of one Iwakichi Kinoshita, oiler on the Japanese steam
ship Nankai Maru, as he attempted to deliver the morphine in a local
hotel room. Kinoshita confessed that the morphine had been given
to him in Yokohama by a Japanese named Kakeichi Yamada; that
during the voyage the morphine was concealed in the engine room
under some rags and waste; that he had taken the drugs off the vessel
by placing two of the packages in belts wrapped around his body and
carrying the remaining three packages suspended at the end of a line,
as he walked around the stringpiece of the pier to the street, keeping
the morphine packages out of sight suspended on the line. O n M a y
28, 1940, Kinoshita was sentenced at N e w York City to 5 years’
imprisonment. This seizure was called to the attention of the
Japanese authorities.
British steamship “Silverwalnut” case
In January 1940, information was received to the effect that 450
tins of prepared opium had been concealed on the steamship Silverwalnut, which had just sailed from Hong Kong. In February 1940,
agents of the Kerr-Silver Line reported that on December 30, 1939,
T R A FF IC I N
O P IU M
23
while the SUverwalnut was en route from Hong Kong, ship’s officers
discovered 150 tins of prepared opium hidden in a barrel of lime, and
that a second search resulted in the discovery of 70 additional tins of
prepared opium. The tins were thrown overboard, and, therefore, it
was not possible to determine definitely their size or origin, although
it is believed that they were 1-tael tins.
“Lam Kee Ying” Brand Opium, Ostensiblyfrom Government Monopoly
Shop in the French Leased Territory of Kwangchow-wan
During the month of October 1939, twenty-two 5-gallon cans of
paint were sold by a N e w York firm to the steamship SUverwalnut
for use on board this vessel. Upon the return of the SUverwalnut to
the port of N e w York in March 1940,13 cans of this paint were returned
to the selling firm as unsatisfactory. This paint was returned by the
paint company to its stock and was resold in July 1940 to a dry
docking company of Weehauken, N. J. In one of these cans of paint,
an employee of the dry-docking company found 108 1-tael tins of pre
pared opium. The company immediately notified narcotic agents at
Newark, who made seizure of the opium on August 7, 1940. Joint
investigation by narcotic and customs agents failed to identify the
person or persons who placed this opium in the paint can. The 1-tael
tins of prepared opium were of the “L a m Kee Ying” (“Eagle”) brand,
similar to those originating in the French leased territory of Kwang
chow-wan.
“ Lam Kee Macao” Brand Opium Ostensiblyfrom Government Monopoly
Shop in the French Leased Territory ofKwangchow-wan
On September 22 and 24, 1940, narcotic agents at N e w York City
arrested two Chinese named Low Bing and Young Yee Hop and
seized ten 5-tael tins of prepared opium and five bricks of raw opium,
each weighing approximately 1 pound. Previously, the agents in
question had purchased from these Chinese two 5-tael tins of pre
pared opium and one 1-pound brick of raw opium. The total net
weight of the prepared opium purchased and seized was 74.23 ounces
(2 kg. 104 gm.), while that of the raw opium was 5 pounds 14 ounces
(2 kg. 665 gm.). The prepared opium tins were of the familiar
“Rooster and Elephant” brand (Lam Kee-Macao), similar to those
which have previously been purchased in the French leased territory
of Kwangchow-wan. The raw opium bricks bore no identifying
marks or labels. The raw opium seized was contained in a biscuit
tin which bore the label “Angelus Superior Biscuits— Made in Hong
Kong.” Chinese characters on one side of the label represented the
manufacturer as The Garden Confection & Biscuit Co., Hong Kong.
Also found on the premises of Low Bing was a bag of heavy canvas-
24
T R A F F IC I N
O P IU M
like cloth, measuring 13% inches by 12% inches. This bag bore on
a white strip the word “ Curacao” and on a blue strip the words
“ Perfumery Shop.” Investigation indicated that this bag had been
used in smuggling opium into the United States from Curacao. In
the possession of one of the Chinese were found two pairs of Americanmade shoes with removable innersoles, giving access to a hidden
compartment, believed to have contained % pound (227 gm.) each of
raw opium, which were allegedly utilized in smuggling opium into
the port of N e w York from vessels coming from Curacao. The
defendants in this case will be prosecuted. The seizure has been
brought to the attention of the British and Netherlands authorities.
Jacob A. Rasmussen case
A customs guard at Jersey City, N. J., on February 7, 1940, when
searching the steamship Exmouth, arrived in port from near eastern
ports, discovered concealed in the fan-tail, aft of the steering gear,
under a wooden platform, six bricks of raw opium, weighing 7 pounds
5.31 ounces (3 kg. 326 gm.), net. The opium bore plain, watersoaked wrappers. According to the master of the Exmouth, one
Jacob A. Rasmussen, a seaman on the vessel, was arrested at Izmir
on December 31, 1939, in possession of a quantity of raw opium.
The seizure at Jersey City was called to the attention of the Turkish
authorities who subsequently confirmed the report of the arrest at
Izmir of Jacob A. Rasmussen, stating that Rasmussen purchased
the opium at Izmir from the notorious Greek trafficker, Minos
Bouyoucas, who was likewise arrested. The Turkish authorities
reported that on July 3, 1940, Rasmussen was condemned, in absentia,
to 6 months’ imprisonment and was fined 260 Turkish pounds. In
the meantime, Rasmussen had arrived at N e w York City on April
25, 1940, and was taken into custody and questioned. However, he
was released because of insufficient evidence linking him with the
Jersey City seizure.
Seizure oj Tubes of Opium Similar to Prepared Opium Tubes Packed
by the British Opium Monopoly in Singapore
O n November 15, 1940, narcotic agents at N e w York City arrested
Sang Cheung and C how Fook, Chinese, and seized six small soft
metal tubes of prepared opium, weighing 1,438 grains (93 gm.), net,
a 6-tael tin of prepared opium, weighing 8 ounces (227 gm.), net, and
a glass jar of prepared opium, weighing 2% pounds (1 kg. 134 gm.),
gross. Previously, there had been purchased from these Chinese
nine of the small metal tubes of prepared opium which weighed 1,954
grains (127 gm.), gross. The Chinese will be prosecuted. The tubes
of prepared opium were 2% inches long and one-half inch in diameter
and were apparently made of lead foil. A n open end was folded over
TR A FF IC I N
O P IU M
25
and sealed with an “eye” around which, on one side, were the words
“Hong Kong M C M X X X I X . ” On the other side of the eyelet were
the words “Packing Plant Singapore.” On the closed end in raised
characters appeared the letters “H K . ” The 6-tael tin of prepared
opium bore on one end the figure of a rooster and on the other an
elephant. The glass jar of opium bore no distinguishing marks or
labels. The tubes of opium were identical in size and design with
others seized at Phoenix, Ariz., and San Francisco, Calif., except
that those seized at Phoenix bore the numerals “M C M X X X X , ” while
those seized at San Francisco bore the numerals “M C M X L , ” which
seizures are reviewed elsewhere in this report, and would appear to be
similar to prepared opium tubes packed by the British Opium Monop
oly in Singapore and distributed among other opium monopolies in
the British colonies and possessions in the Far East. They are also
identical in size and certain other respects with tubes of prepared
opium seized in the Philippine Islands in 1939 (see Annual Report of
the Philippine Government for the Calendar Year 1939), in that the
tubes seized in the Philippines bore the words “Packing Plant Singa
pore” on one side, while on the other side appeared the words “North
Borneo,” and on one end the letters “NB.” The 6-tael tin of pre
pared opium was among the few of that type seized in the United
States. Previously, there had been only two seizures in the United
States of prepared opium in 6-tael tins, both of these seizures having
occurred in the State of California in 1935 (reviewed in the Annual
Report on Traffic in Opium and Other Dangerous Drugs for that
year). Among papers found on defendants in this case were letters
indicating that the actual shippers of the opium seized were Wong
Yuen Shee and Ching Kee, Hong Kong. One W o n g Kee Cheong,
222 Sai Yung Choy Street, Yaumati, Hong Kong, may also be im
plicated. This information has been transmitted to the British
authorities.
Jmnett-Gohen Case
A n interesting case developed at N e w York City as a result of a
joint investigation by narcotic and customs agents involved the theft
of raw opium from a Government warehouse by an employee therein.
Acting on information that the proprietor of a second-hand store in
N e w York City was receiving stolen opium from an employee of the
warehouse in question, the investigating agents ascertained that there
was at the Appraiser’s Stores a consignment of raw opium of 259
cases which had been imported under valid import permit by Merck
& Co. from Yugoslavia. It was also disclosed that one Edward J.
Jennett was employed in the Appraiser’s Stores in repacking opium
into its original containers after the opium had been weighed by the
customs examiner and sampled by a representative of Merck & Co.
Jennett was arrested by customs officers and in his possession were
26
T R A FF IC I N
O P IU M
found 5 pieces of raw opium, weighing 27.50 ounces (780 gm.), net.
H e admitted that he had stolen the opium from the Stores and intended to sell it to one Sam Cohen, and that previously he had stolen
3 pieces of raw opium and sold them to Cohen for $80. Sam Cohen
Was then arrested. H e pleaded guilty. O n June 20, 1940, Jennett
was sentenced to serve 1 year and 9 months in a Federal penitentiary.
The case against Cohen is still pending. The 5 pieces of raw opium
bore the numerals 11, 13, 14, 14, and 15 and each was stamped at the
bottom with a criss-cross impression. They were the product of the
Bureau Turco Yugoslav pour ^Exportation de 1 Opium, Belgrade.
11Lam Kee-Macao” Brand Opium Ostensiblyfrom Government Monopoly
Shop in the French Leased Territory of Kwangchow-wan
Seizures of “Rooster and Elephant brand (Lam Kee-Macao)” pre
pared opium in tins similar to those which have been purchased in
the French leased territory of Kwangchow-wan, were effected in
Baltimore, Md., and N e w York City on June 26 and August 3, 1940.
The seizure at Baltimore consisted of two 5-tael tins which were
found by customs officers concealed in the fresh-water tank of the
steamship Steel Navigator after it arrived in port from Singapore.
N o arrests were made. At N e w York City, one 5-tael tin of this
description was purchased from a Chinese. The case is still pending.
Newman Brothers Case
In January 1940, after a painstaking and prolonged investigation,
sufficient evidence was assembled to indict the notorious N e w m a n
brothers (Charles, George, and Harry) of N e w York City. The true
family name of these brothers is Neiditch, but it is seldom used.
Charles, George, and Harry N e w m a n for a number of years were
believed to be the largest dealers in illicit drugs in the United States.
In addition to their ostensible occupations of owning and operating
hotels of doubtful reputation, they were alleged to have had a hand
in many unlawful activities, including gambling, confidence-game op
erations, stock frauds, liquor smuggling, and narcotic law violations.
They formerly owned the Langwell Hotel in N e w York City, a ren
dezvous for drug peddlers. However, because of careful methods of
operation and discrimination in the selection of their contacts, it was
extremely difficult to obtain evidence on which they could be prose
cuted, and with the exception of a 4-year term for larceny imposed
in 1923 on Charles Newman, these men were successful in avoiding
prosecution. They have been associated with such persons as Sidney
Goldbarth, Harry Kessler, and such well-known narcotic traffickers
as Albert Spitzer, Abe Stein, Sam Bernstein (see Annual Report on
Traffic in Opium and Other Dangerous Drugs for 1934), and Irving
Halper (see Annual Reports on Traffic in Opium and Other Dan-
TR A FF IC I N
O P IU M
27
gerous Drugs for 1932, 1937, and 1939). They are believed to have
been the source of supply for drugs distributed by William (“Big
Bill”) Hildebrandt (see Annual Reports on Traffic in Opium and
Other Dangerous Drugs for 1937 and 1938) in Minneapolis, Minn.,
by the Kayne-Gordon (see Annual Report on Traffic in Opium and
Other Dangerous Drugs for 1936) organization in Chicago, 111., and
by many other large narcotics distributing rings. They had connec
tions with the Lyon-Bacula organization in France. Their organiza
tion is believed to have been the recipient of trunks containing nar
cotics shipped to the United States from Shanghai, China, by Harry
Kessler. For more than 2 years customs agents and narcotic officers
were assigned to an intensive investigation, the object of which was
to end the law-breaking activities of the N e w m a n brothers. With
the launching of this investigation the Newmans discontinued much
of their narcotic business. W h e n the inquiry of the customs and nar
cotics officers began to disclose evidence that the N e w m a n brothers
may have evaded the payment of income taxes, the Bureau of In
ternal Revenue came into the inquiry and as a result in January
1940 income-tax evasion indictments were returned against them.
Shortly afterward an indictment for conspiracy to violate the Federal
narcotic laws was returned and with the cooperation of the Immigra
tion and Naturalization Service and the Department of State a fur
ther investigation resulted in the indictment of Charles N e w m a n with
two others for a conspiracy to obtain passports by fraudulent repre
sentations. Evidence presented to the grand jury in the narcotic
-case indicated that the N e w m a n brothers prior to 1938 were the source
of supply for narcotic drug dealers in Chicago and in Texas, at which
time they sold drugs in $50,000 and $100,000 lots which they procured
from France and other European countries, and from Shanghai, China,
in large quantities. O n April 26, 1940, Charles, George, and Harry
N e w m a n pleaded guilty to the narcotic conspiracy indictment against
them and each received sentences of 2 years’ imprisonment. The
N e w m a n brothers are now serving these sentences in the Federal
Correctional Institution, at Sandstone, Minn.
Louis Kravitz, Yanis Isounias, George L. Mexis Case
In the Report on Traffic in Opium and Other Dangerous Drugs for
the year 1939, in referring to the conviction of Louis Buchalter and
other members of the notorious Katzenberg-Lvovsky-Buchalter
organization, mention was made of the fact that all of the principals
in this case had been brought to justice with the exception of Louis
Kravitz, a fugitive believed to be in the United States, and Yanis
Tsounias and George L. Mexis, believed to be still in Shanghai, China.
In October 1940, Louis Kravitz was apprehended and upon his plea
of guilty was given a penitentiary sentence of 1 year and 1 day. The
319383— 41----3
28
TRAFFIC IN OPIUM
United States Treasury Department through the Department of ofBe
State has submitted to the Shanghai authorities evidence in great jjezz
detail showing an extensive traffic in illicit narcotics by Tsounias and
Mexis in the hope that action would be taken on this evidence by the ip:
Shanghai authorities, but to date no notification of any action has
been received.
Emanuel Weiss-Philip Cohen Case 7
In March 1940, an indictment was returned in the Southern Dis
trict of N e w York against Emanuel Weiss, Philip Cohen, Abe Lorber,
A1 Angelson, (see Annual Report on Traffic in Opium and Other
Dangerous Drugs for 1939), Sam Bernstein (see Annual Report on
Traffic in Opium and Other Dangerous Drugs for 1934), and others,
as an outgrowth of an investigation by narcotic and customs officers
which showed that Weiss and certain of his associates had been
implicated in a series of major infractions of the Federal narcotic
laws, including the attempted smuggling of approximately 20 pounds
(9 kg. 72 gm.) of heroin into this country at Rouses Point, N. Y., in
1937, the sale of large amounts of heroin in N e w York City, and the
setting up in N e w York City and the operation during the latter
part of the year 1939 of a clandestine laboratory in which morphine
was adulterated and later distributed in the illicit traffic. Weiss was
also indicted in Dallas, Tex., in M a y 1940, with 28 other persons in
a case which will be described in more detail. Weiss is considered
one of the most vicious and dangerous criminals in N e w York City.
Following his arrest in this case and subsequent release on $10,000
bond, he became a fugitive from justice after an indictment charging
him (and Louis (Lepke) Buchalter as a codefendant) with murder
had been returned against him in June 1940 in Kings County, N. Y.
Weiss was later apprehended by narcotic agents and held under
$100,000 bond for prosecution.
Samuel Bernstein et al. case
In October 1940, narcotic officers again arrested Samuel (“Butch”)
Bernstein (while he was on bond and awaiting trial in the above case)
at Moonachie, N. J. Bernstein has a long record as a major violator
of the narcotic laws (see Annual Report on Traffic in Opium and Other
Dangerous Drugs for 1934). H e was operating a clandestine chemical
laboratory apparently set up for the purpose of manufacturing mor
phine or heroin from opium, and also for the purpose of producing an
adulterated smoking opium. Arrested with him was John Edwin
Jackson, a chemist, until then a highly respected member of the
community. Subsequent investigation resulted in the indictment
1(See also p. 39.)
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TRAFFIC IN OPIUM
29
of Bernstein, Jackson, Nathan Horowitz, Arthur Bieler, and Salvatore
Mezzasalma.
S IG N IF IC A N T
CA SES
O F I L L I C I T T R A F F IC I N
T H E P A C IF IC
CO AST A R E A
Case ofShigeo Shiraishi, Japanese Seaman,Mrs. Mineko Ogata, Chotaro
Minatogawa, Japanese, Shohei Takeda, Japanese Fireman on Japa
nese Steamship“ ToseiMaru,” Iwakichi Kinoshita, Oiler on Japanese
Steamship “Nankai Maru,” Yoshimoto Wada, Crewman on Japanese
Steamship “Nanman Maru”; and Other Japanese
Following the appearance in the illicit narcotic traffic on the Pacific
coast area during the early part of the year of small amounts of socalled Japanese “cotton” morphine, an intensive investigation was
made which resulted in the purchase on March 25, 1940, by narcotic
and customs officers of 13 ounces 235 grains (384 gm.) of this mor
phine at Seattle, Wash., and the arrest of a Japanese, Chotaro Mina
togawa. Earlier on the same morning agents of the California State
Narcotic Enforcement Division in San Francisco arrested two Chinese
named J. C. Young and L u m Wah, alias George Wong, alias Frank
Huey, when found in possession of approximately 2 pounds (907 gm.)
of morphine in powdered form, commonly referred to as “cotton”
morphine. Inasmuch as it was believed that this morphine had been
smuggled into the United States from Japan, information concerning
the seizure was given immediately to Federal narcotic and customs
officers, and a joint investigation soon established both seizures to be
the product of one smuggling venture and approximately 46 ounces
of the drug were recovered from an employee of the smuggling ring,
Mrs. Mineko Ogata at Tacoma, Wash. Further investigation of this
smuggling organization by Treasury Department officers in collabora
tion'with the California State authorities resulted in the arrest at N e w
York cm>ApriL29, 1940, of Iwakichi Kinoshita, oiler on therJapanese
steamship Nunkai Maru, in possession of 10 pounds (4 kg. 536 ,gm.) of
morphine.
Investigation disclosed that L u m W a h when previously serving a
term in a United States Federal penitentiary met a fellow-prisoner,
a Japanese, named Shigeo Shiraishi and made arrangements with him
for future morphine deals when both were released. Shiraishi
subsequently returned to Japan and entered into correspondence with
L u m Wah, using the address 944-2 Kawase Machi, Numazu-Shi,
Japan. According to L u m Wah, in 1938, he received in San Francisco
3 pounds (1 kg. 361 gm.) of morphine from Shiraishi through a Japanese
crew member of a Japanese vessel. In 1939, at N e w York City, he
took delivery of 3 pounds (1 kg. 361 gm.) of morphine from another
Japanese seaman acting as carrier for Shiraishi. In November 1939,
30
TRAFFIC IN OPIUM
he again proceeded to N e w York and received 3 pounds (1 kg. 361
gm.) of morphine from a Japanese seaman, this deal having been
arranged through correspondence with Shiraishi, as in the previous
cases.
In January 1940, L u m W a h received a letter from Shiraishi, intro
ducing one Koki Osugi, crewman on the steamship Tosei Maru.
However, he failed to make contact with this Japanese. In March
1940 he received another letter from Shiraishi, instructing him to
proceed to a Japanese laundry in Tacoma, Wash., where he could
take delivery of a quantity of morphine. Accordingly, he went to
this address, accompanied by J. C. Young, and there met Mrs.
Mineko Ogata, who gave him 3 pounds (1 kg. 361 gm.) of morphine,
stating that she had just smuggled a quantity of morphine into the.
United States from Japan, via Vancouver, British Columbia, Canada.
It was the morphine obtained from Mrs. Ogata that was in the
possession of L u m and Young when they were arrested in San Fran
cisco on March 25.
O n April 1, 1940, Chotaro Minatogawa stated in jail that Mrs.
Ogata had recently returned from Japan with a quantity of morphine,
and that he had been commissioned to dispose of the narcotics for her.
O n April 3, Mrs. Ogata was arrested by narcotic and customs officers
and 45 ounces 392^ grains (1 kg. 301 gm.) of morphine were found
concealed in her premises. She confessed that she had recently
returned from Japan, carrying with her 15 packages of morphine.
She- took 8 of these packages ashore at Vancouver on March 9, 1940,
concealed on her person, and placed them in a suitcase which she
purchased there, checking the suitcase at a bus station. She then
returned to the steamship Hie Maru, on which she had arrived from
Japan, and proceeded to Seattle, at which port she concealed the
remaining 7 packages of morphine in her clothing and in her baby’s
diapers, and smuggled them ashore. She then returned to Vancouver
by auto-stage, picked up the 8 packages of morphine and placed them
in a paper shopping bag, together with soiled diapers, and smuggled
the morphine into the United States on March 15, 1940, at Blaine,
Wash. She further confessed that she had delivered 3 pounds (1 kg.
361 gm.) of this morphine to L u m W a h on March 25, and that she
also delivered to Minatogawa the morphine which was seized from
him.
While it would appear that the morphine seized from L u m Wah,
Chotaro Minatogawa, and Mrs. Mineko Ogata was supplied by Shigeo
Shiraishi, in the case of Mrs. Ogata, there was another Japanese
implicated in the affair, whose name will be furnished subsequently.
O n April 8, 1940, Mrs. Ogata received a letter from the Japanese
whose identity will be disclosed subsequently, advising that a crew
member of the steamship Tosei Maru would deliver to her a quanti ty
TRAFFIC IN OPIUM
361
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31
of morphine. As a result of this information, investigating officers
arrested the above-mentioned Koki Osugi and Shohei Takeda, Jap
anese firemen on the Tosei Maru, on M a y 8, 1940, after they had
smuggled ashore at Seattle 6 pounds (2 kg. 722 gm.) of morphine
and twenty-nine 5-tael tins of prepared opium. L u m W a h also re
ceived a letter from Japan, from Shiraishi, stating that Osugi would
deliver a quantity of morphine to Mrs. Ogata, and suggesting that
he proceed to Tacoma and take delivery of the morphine from Mrs.
Ogata. Thus, it will be seen that Shiraishi and the unnamed Japanese
were also the suppliers of this drug shipment.
Also, on April 8, L u m W a h received a letter from Shiraishi, in
structing him to go to N e w York and there take delivery of certain
morphine from a crew member of the steamship Nankai Maru. The
investigation was carried to N e w York and there, Iwakichi Kinoshita,
oiler on the Nankai Maru, on the night of April 28, was arrested as
he attempted to deliver 10 pounds (4 kg. 536 gm.) of morphine in a
hotel room. This seizure was reviewed in this report with those in
the Atlantic coast area.
On M a y 12, 1940, L u m W a h received a letter signed Shiraishi,
stating that he was forwarding 10 pounds (4 kg. 536 gm.) of cocaine
which should arrive at San Francisco near the end of M a y or the
first of June, and enclosing one-half of a Japanese 50 sen bill as identi
fication when L u m should meet the carrier. (Previously, Kinoshita
had been identified in N e w York in the same manner.) On July 19,
1940, investigating officers met the carrier, Yoshimoto Wada, crew
man on the steamer Nanman Maru and a customs agent, posing as
the purchaser, arranged for delivery of the cocaine. On the following
morning, the customs agent, dressed as a stevedore, boarded theNanman Maru and met W a d a in the boiler room. W a d a gave him two
packages which he took ashore and delivered to waiting officers. He
then returned to the boiler room of the vessel, where W a d a handed
to him the third package. The waiting officers then went aboard the
ship and arrested Wada. The seizure consisted of slightly over 15
pounds (6 kg. 804 gm.) of cocaine contained in typical “smuggling
belts.”
Wad a stated that he had been given the cocaine in Kobe by Shinjiro
Shimizu, who resides on Hirato Cho, Suma, Ku, Kobe City, Japan,
and is the proprietor of the “Shimizu Tekko Jo” iron foundry. Al
though Shimizu was the actual shipper of the cocaine, Shigeo Shiraishi
must have participated, since he signed the letter to L u m Wah.
O n M a y 18, 1940, Chotaro Minatogawa was sentenced at Tacoma,
Wash., to 2 years’ imprisonment and fined $1,100 (3,410 Swiss gold
francs) to stand committed until the fine is paid.
Iwakichi Kinoshita was sentenced at N e w York City on M a y 28,
1940, to serve 5 years in a Federal penitentiary.
32
T R A F F IC I N
O P IU M
Yoshitomo W a d a was sentenced at San Francisco on August 3,
1940, to imprisonment for 5 years and to pay a fine of $1,000.
O n August >9,. 1940, Koki Osugi was sentenced at Seattle; Wash.,
to 11 years’ imprisonment and fined $500. At Seattle, on the same
date, Shohei Takeda was sentenced to imprisonment for 2‘years and
fined $500.
The cases against the other defendants are still pending.
Shigeo Shiraishi is known to authorities in the United States, having
been sentenced at Seattle, Wash., on February 20, 1935, to 18 months’
imprisonment for moral turpitude, and being deported to Japan on
October 24, 1936.
Shinjiro Shimizu is also known, inasmuch as this Japanese was
implicated in a seizure of morphine at Los Angeles, Calif., on October
11, 1936. (See seizure reports Nos. 525, 586, 525 (a) and 586 (a),
and League of Nations O. C. S./confidential documents 131, 279,
and 131 (a).) The investigation in this case disclosed that one
Samuel Onuma, Japanese, was implicated in the shipment of these
narcotic drugs to the United States. O n u m a previously was con
sidered an important smuggler of narcotic drugs in Tacoma, Wash.,
being arrested in possession of 30 pounds (13 kg. 608 gm.) of morphine
in February 1933, sentenced to 9 years’ imprisonment, but paroled
and deported to Japan. According to correspondence received by
L u m W a h from Shigeo Shiraishi, O n u m a made a special trip to China
from Japan for the purpose of securing narcotic drugs to be shipped
from Japan to L u m W a h in the United States. It is understood that
Samuel O n u m a is now residing in Shanghai.
The facts in these continuing cases have been reported'to the Jap
anese authorities.
“Lam, Kee Ying,” “Lo Fook Kee” and “Lam Kee” Brands Opium
Ostensibly From Government Monopoly Shop in the French Leased
Territory of Kwangchow-wan
O n M a y 30, 1940, a customs guard at San Francisco, Calif., noticed
that Clarence Erwin, crewman on the S. S. President Coolidge, when
coming ashore, was apparently opening a package of cigarettes.
During the customary search of Erwin’s person, the guard saw that
he had a partially filled package of cigarettes in one of his pockets.
Thinking it peculiar that Erwin should be opening a package of
cigarettes when he had another in his pocket, he took the package
from Erwin’s hand and immediately noted that it was heavier than an
ordinary cigarette package. W h e n the package was opened, it was
found to contain one 1-tael tin of prepared opium.
Erwin was taken to his quarters aboard the ship, and in a steel locker
beside his bunk were found ten 1-tael tins of prepared opium concealed
in packages of cigarettes. It appeared that 1-tael tins of the type
TR A FF IC I N
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O P IU M
33
seized, which are generally 2 inches high, 1% inches wide, and %
of an inch in thickness, were in this instance placed in cigarette
packages* the contents having been removed previously. First, in
order to open the sealed cigarette packages, the cellophane wrappings
were opened without being torn; then the United States revenue
stamps across the tops were steamed oif; and the cigarettes removed.
After the tins had been inserted in the packages, a space of approxi
mately three-quarters of an inch remained at the top. The cigarettes
were, therefore, cut in three-quarter inch lengths and placed in regular
order on top of the tins. The Revenue stamps were then pasted
back* in place and the cellophane folded neatly over it.
Further search of Erwin’s quarters on M a y 31 disclosed two 1-tael
tins of prepared opium concealed in the hollowed heels of a pair of
shoes, and nine 1-tael tins of prepared opium underneath some
laundry on top of a locker. W hen questioned, Erwin led customs
officers to a cache of five 1-tael tins of prepared opium which had been
landed by him and concealed in the flushing tank in the lavatory of the
pier lunchroom.
Each of these 1-tael tins of opium was stamped “L a m Kee Ying,”
these tins being known familiarly as “Eagle Brand opium,” which are
alleged to be packed and exported from Kwangchow-wan, French
leased territory in China.
A thorough search of the ship resulted in the further seizure of
thirty-one 5-tael tins of prepared opium which were found concealed
in a spare bunk, buried under suitcases in the crew’s quarters in the
glory hole. Erwin at first denied ownership of these 5-tael tins.
Twenty-seven of the 5-tael tins were of the familiar “Yick Kee”
brand, also believed to originate in Kwangchow-wan, while four of
the 5-tael tins were of the equally familiar “Lo Fook Kee” brand,
likewise said to be from Kwangchow-wan.
Erwin confessed to customs agents that the 1-tael tins of opium
were to be delivered to a Los Angeles Chinese named Frank Wong.
This Chinese was immediately arrested. Erwin stated that the
thirty-one 5-tael tins were for delivery in Honolulu to a Chinese
named Chun Wo, through the connivance of a customs guard named
Joseph Tirrell, and that this customs guard had on two previous
occasions taken ashore for him for delivery to Chun W o tins of pre
pared opium. Search of the premises in Honolulu of Chun W o led to
the discovery of a 5-tael tin of prepared opium of the “L a m Kee ‘K ’”
variety and quantities of prepared opium and opium dross contained
in porcelain jars and teacups, these being buried under the ground in
a fern bed. Chun W o and Tirrell were arrested, the latter being
suspended from duty. Both were subsequently removed to San
Francisco for trial.
34
T R A F F IC I N
O P IU M
Erwin further stated that he had obtained the opium from one
George Wong, a Chinese, of Kowloon, Hong Kong.
O n July 24, 1940, Frank W o n g was found guilty, as charged, and on
August 9 was sentenced to serve 1 year and 1 day in a Federal
penitentiary.
O n September 4, 1940, Clarence Erwin, Chun Wo., and Joseph
Tirrell were found guilty in Federal court at San Francisco. O n
September 5, Chun W o and Joseph Tirrell received sentences requiring
them to serve 3 years each. The case against Erwin is still pending. |
This information has been transmitted to the British authorities.
O n M a y 30, a customs guard was informed that a Chinese passenger
on the President Coolidge had opium in his possession. This Chinese,
W o n A h Lim, and his three small children were searched. W o n was
in possession of a 1-tael tin of prepared opium, of the Lo Fook Kee
brand, while one of the boys had a package of opium dross concealed
on his person. The other boy had an opium pipe and a |toy” holding
a small quantity of prepared opium, while the little girl had a package
of opium dross concealed under her clothes. W o n A h Lim, an Ameri
can citizen and an addict, was incarcerated for several weeks, and, as
he seemed to have broken himself of his habit, was released after the
payment of a fine.
Seizure of Tubes of Opium Similar to Prepared Opium Tubes Packed
by the British Opium Monopoly in Singapore
Upon the arrival of the steamship President Taft at San Francisco,
Calif., on October 2, 1940, the master of the vessel turned over to
customs officers four metal tubes of prepared opium, stating that
they had been found concealed in a deck locker on A deck of the
vessel, when on the high seas. Although the ship was searched
thoroughly at sea by ship’s personnel, and in port by customs officers,
no further contraband was found. Ownership of the opium was not
ascertained. The tubes were identical in every respect with leadfoil tubes seized at N e w York City, which seizure has been reviewed
above under “Atlantic coast” seizures. They also appeared to be
of the same origin as certain tubes seized at Phoenix, Ariz., which
seizure will be discussed below. These soft metal prepared opium
tubes would seem to be similar to those understood to be packed by
the British Opium Monopoly in Singapore and distributed among
other opium monopolies in the British colonies and possessions in
the Far East. The British authorities have been informed of this
seizure.
T R A FF IC I N
O P IU M
35
“ Lam Kee-Macao” Brand Opium OstensiblyFrom Government Monopoly
Shop in the French Leased Territory ofKwangchow-wan
Narcotic agents at San Francisco, Calif., on February 4, 1940,
arrested a Chinese named Yee Duck Ming, alias Jins M. Yee, alias
Yee Tuck Min, in possession of a 5-tael tin of prepared opium,
weighing 6 ounces 291 grains (189 gm.), net, five jars of prepared
opium, of a total net weight of 401 grains (26 gm.), and two packages
of opium dross, weighing 246 grains (16 gm.), net. The 5-tael tin
was of the familiar “Rooster and Elephant’’ brand (“L a m KeeMacao”), believed to originate in the French Leased Territory of
Kwangchow-wan. The Chinese will be prosecuted.
Seizure of Drugs Allegedly Purchased From a Chinese in Shanghai
In January 1939, information was received that a plumber on the
steamship President Cleveland was suspected of smuggling small
quantities of narcotic drugs into the United States upon arrival from
far eastern ports. Customs officers at Pacific coast ports were given
the name of this suspect, which was Alexander Dashevsky. On
November 19, 1940, Dashevsky arrived at San Francisco, Calif., on
the steamship President Pierce. As a result of continuous surveillance
by customs officers, 5.64 ounces (160 gm.) of pure heroin were found
concealed in Dashevsky’s overcoat pocket. The officers later learned
from Dashevsky that there were additional quantities of drugs con
cealed aboard the vessel. Subsequent search revealed the presence of
13.11 ounces (372 gm.) of pure heroin and 5.62 ounces (159 gm.) of
cocaine concealed in the traps of two spare toilet bowls in the forward
thermal room, while in the same room, under a ventilator duct at the
bulkhead, were found 11.66 ounces (331 gm.), net, of cocaine. The
heroin and cocaine were contained in rubberized silk bags, upon each
of which was an impression, evidently made with a rubber stamp, of a
five-pointed star within which appeared Japanese characters which if
executed slightly differently could be translated “the good brilliant
man.” Dashevsky, who is a naturalized American citizen of Russian
origin, stated that he had been smuggling narcotics into the United
States for several years; that the drugs just seized had been purchased
from a Chinese in Shanghai; that he met this Chinese through intro
duction from a Chinese narcotic dealer in Hong Kong from w h o m he
had previously purchased drugs; that he paid $450, gold, to the
Shanghai Chinese; that he owed a balance of approximately “ten or
twelve thousand Shanghai dollars” which was to be paid upon the
vessel’s return to Shanghai. Subsequently, the person for w h o m the
drugs were intended, a Chinese named W o n g K i m Keung, alias
“T o m m y ” Wong, was arrested. O n December 5, 1940, Dashevsky
36
T R A F F IC I N
O P IU M
was sentenced at San Francisco to 3 years’ imprisonment.
against the Chinese is pending.
The case
“Lo FooJc Kee” Brand Opium Ostensibly From Government Monopoly
Shop in the French Leased Territory oj Kwangchow-wan
A seizure of a 5-tael tin of prepared opium of the “Lo Fook Kee”
variety, of probable Kwangchow-wan origin, was effected by narcotic
agents at Seattle, Wash., on June 25, 1940. The tin was found
washed up on the beach at Ocean Park, Wash., and was turned over to
the agents. It was crushed as if by having been bound tightly by a
heavy wire to other similar tins, and also had been punctured by its
finder in an endeavor to learn the nature of its contents. Hence,
part of the opium was missing, and the gross weight of the tin was
4 ounces 330 grains (135 gm.).
uLam Kee” Brand Opium Ostensibly From Government Monopoly
¡iShop in the French Leased Territory oj Kwangchow-wan
Four 5-tael tins of prepared opium of the “Rooster and Elephant”
variety were found by ship’s officers on the steamship President Pierce
while it was on the high seas, en route from Honolulu to San Francisco,
and turned over to customs officers upon the arrival of the vessel at
San Francisco, on January 14, 1940. These tins were discovered
concealed in a false compartment of a dresser drawer. Ownership
was not established. In addition to the customary stamped impres
sions of the rooster and elephant appearing on “L a m Kee” tins, these
tins bore a small square paper label on which appeared the figure of a
rooster similar to the likeness stamped into the metal at the ends and
sides of the so-called “Rooster No. 1” opium tins. (See Report on
Traffic on Opium and Other Dangerous Drugs for 1939.) In the
center of the paper labels appeared the Chinese character “Wan.”
Painted on the side of one of the four tins was the number “130”
in Chinese characters.
Seizure oj Prepared Opium Pills Allegedly Purchased jrom a Chinese
in Hong Kong
James John Golden, seaman on the steamship President Tajt, who
was arrested by customs officers at San Francisco, Calif., on April
17, 1940, in possession of two prepared opium pills, weighing about 5
grains (0.32 gm.), net, stated that he purchased these pills and others
which he had already consumed orally from a Chinese named “Ching”
in Hong Kong. Golden had been an addict for more than a year,
claiming that he was formerly just a “pleasure smoker,” but that he
had developed a “stomach habit,” which he satisfied by taking the
opium, dissolved in water, orally. O n April 27, 1940, Golden was
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O P IU M
37
sentenced to imprisonment for 1 year and 1 day. No doubt the im
position of this sentence was influenced by his previous criminal
record. On the voyage from Hong Kong to the United States, the
master of the vessel found 10 small tubes of prepared opium which
he threw overboard. Search of the crew’s quarters resulted in the
discovery of 100 prepared opium pills in Golden’s clothes. All ex
cept 2 of these pills were destroyed. Unfortunately, the markings
on the metal tubes of opium were not ascertained. This seizure has
been called to the attention of the British authorities.
Seizure of Prepared Opium Pills Allegedly Purchased in Sydney,
Australia
At San Francisco on April 16, 1940, Harold Briggs, crew member
of the steamship Monterey, was arrested by customs officers in pos
session of two prepared opium pills, weighing 8 grains (0.52 gm.),
net. Briggs stated that he purchased these pills and seven others in
Sydney, Australia, and that he consumed all except the two pills
seized after drinking bouts en route to San Francisco. H e claimed
that he was not a drug addict, but took the opium to relieve him of
illness after a night of drinking, making a solution of the opium and
injecting it intravenously by means of a hypodermic needle. On
M a y 4, 1940, the defendant was placed on probation for 1 year.
The Australian authorities have been given details in connection with
this seizure.
The following cases covering the smuggling of narcotic drugs into
the Pacific coast area of the United States from Mexico are of
interest:
.Customs patrolmen at Nogales, Ariz., becoming suspicious of a
shipment labeled “Syrup” from Culiacan, Mexico, to Mexicali,
Mexico, via Nogales and Calexico, Calif., entered on In Transit and
Transportation and Exportation entries by express, immediately
notified customs officers at Calexico. A n inspection of the shipment
upon its arrival at Calexico disclosed that it consisted of 10 pounds
5 ounces (4 kg. 678 gm.) of raw opium, packed in red peppers. The
consignee of the shipment, Manuel Monge, was arrested the same
day and is being held for prosecution. The seizure was called to the
attention of the Mexican authorities, and it is understood that the
matter is now under investigation in Mexico.
A Chinese named W o n g M a y Kwong, arrested by immigration
officers at San Diego, Calif., on February 18, 1940, was found to
have in his possession two 5-tael tins of prepared opium, of a total
net weight of 13% ounces (374 gm.). The prisoner was turned over
to customs officers for prosecution and the case is still pending. The
Chinese stated that the opium was of Mexican origin, of very poor
38
T R A F F IC I N
O P IU M
grade, and that he had paid $50 for each tin. The tins bore no iden
tifying marks or labels. The construction of the tins indicated that
they had been made in a first-class sheet metal works plant.
A seizure of a 5-tael tin, containing 3 ounces (85 gm.), net, of pre
pared opium, two similar empty tins, several empty ointment jars,
opium-smoking paraphernalia containing traces of opium, and a com- I
plete soldering outfit was effected by narcotic agents at San Diego,
Calif., on April 12, 1940, from Charles Dong, alias T o m W a y Ting, ,I
alias T o m M a y Teng, Chinese. The 5-tael tins were obviously home- |j|
made, since they were smaller than the usual type and were soldered
rather crudely at the ends and on one side. The top consisted of a
slip cover. They bore no distinguishing marks or labels. Dong !
pleaded guilty and on April 19, 1940, was given a 5-year sentence. |
At the time of his arrest this defendant, who is known as a major nar
cotic law violator in southern California, was on probation under a |
10-year suspended sentence. In the former case made in September
1939 it was known that Dong had been obtaining his supply of drugs |!
from Tia Juana, Mexico, through one Albert Miller, a Mexican, who
smuggled the drugs into the United States. Evidence in the instant |
case indicated that the opium had come from Mexico.
Officers learned that Dong had customers in various cities in Cali
fornia and that his distribution was made from a gambling house he
conducted in San Diego. In searching Dong’s gambling house, agents
found 15 lethal weapons, consisting of 6 wooden bludgeons with leather
grips and 9 wrapped gas pipes. These were scattered about the prem
ises in a way that a person could lay his hands on one within 3 or 4
feet from any point in the room.
Dong claimed he was not addicted to the use of drugs.
O n September 28, 1940, customs patrolmen at Calexico, Calif., j
pursued a m a n who had crossed the border from Mexicali, Mexico,
and who was suspected of having smuggled narcotic drugs in his
automobile. The m a n attempted to escape by running his automobile
into that of the customs officers, but he was captured and a glass jar
and two paper “bindles” of prepared opium, of a total net weight of
435 grains (28 gm.), were found concealed in the automobile. The
prisoner, who was named Melvin Elmer Darling, admitted that he I
purchased the opium in Mexicali for $12. H e will be prosecuted.
The glass jar of opium bore Chinese characters, a translation of which
would appear to mean “the highly valuable tiger brand oil.” Seals
on the jar bore pictures of tigers and the words in Chinese “Yellow
Gold Balm.”
Four loaded revolvers which Philip N. Chadwick was carrying in a zipper brief case at the time of his arrest on narcotic charges
TR A FF IC I N
O P IU M
39
S IG N IF IC A N T CASES OF ILLICIT TR A FFIC IN T H E N O R T H -SO U T H C EN TRAL
AREA.
George Klein Case
In June 1940, George Klein, alias George Brooks, was arrested in
Minneapolis, Minn., after making several sales of heroin in ounce
lots to narcotic agents. H e pleaded guilty in November 1940, and
was sentenced to 12 years’imprisonment. '
Brooks, who is not addicted to the use of drugs, has a long criminal
record extending back to 1921. H e has been arrested, among other
places, in Louisville, Ky.; Cedar Rapids, Iowa; Jacksonville, Fla*;
N e w Orleans, La.; Los Angeles, Calif.; Kalamazoo, Mich.; Richmond,
Va.;Philadelphia, Pa.;West Palm Beach, Fla.;and Milwaukee, Wis.;
for offenses ranging from pickpocketing, carnal knowledge, and con
spiracy to bribe, to narcotic law violations.
Case of Weiss, Chadwick, Beland etal
O n M a y 14, 1940, at Dallas, Tex., a gang having its headquarters
in N e w York and its principal object the distribution of illicit drugs
in Illinois and Texas, was broken up though the indictment of the
following persons: Jake Leftak, Emanuel Weiss (see Report on
Traffic in Opium and Other Dangerous Drugs for 1939); Albert Gold
stein, Charles Schiffman, Louis Sherman, T o m m y Cooper, Mrs.
Tom m y Cooper, Abe Chapman, James Russo, Henry Grossberg, and
Shama Dubinbaum (see Report on Traffic in Opium and Other Dan
gerous Drugs for 1939), allof N e w York City;Thomas Stobble, George
Taylor (see Report on Traffic in Opium and Other Dangerous Drugs
for 1939); Arthur C. Roberts (see Reports on Traffic in Opium and
Other Dangerous Drugs for 1932 and 1939), Jerry Siegel, Charles
Bernardi, and Jacob Roamer, all of Chicago, 111.; and Nelson Harris,
Jesse Harris, Glenn Cox, Dewey Ross, Marie Ross, Philip N. Chad
wick, Mrs. Philip N. Chadwick, Bernard H. Schaffer, Henry Moore,
Charles Beland (see Report on Traffic in Opium and Other Dangerous
Drugs for 1938), and Cliff Green, all of Texas. This indictment re
sulted from an investigation which had been carried on by narcotic
officers for several months prior to the date of its return.
The inquiry disclosed that Emanuel Weiss, M o e Liss alias T o m m y
Cooper, Jake Leftak, and Charles Schiffman were ring leaders of the
organization. Grossberg supplied the ring with “chemicals” for
adulterating the narcotic drugs. Dubinbaum supplied fancy packages
and labels. The principal dealer in Chicago was Thomas Stobble
alias Dago New. During the course of the conspiracy in January
1939, Charles Schiffman sent to Chicago the defendant Goldstein, and
Goldstein was employed there for several months under the super
vision of Stobble as a so-called “plant man.” H e had custody of the
* (See also p. 28.)
I
40
T R A F F IC I N
O P IU M
illicit narcotics, adulterated them, did some of the distributing, and
also carried drugs from N e w York to Chicago and money from Chicago
to N e w York. In this work in Chicago he came in contact with Arthur
C. Roberts, Jerry Siegel, George Taylor, Charles Bemardi, and Jacob
Roamer, lesser figures in the conspiracy there. During certain por
tions of the year 1939 this organization sold in Chicago approximately
360 ounces (10 kg. 206 gm.) of highly diluted heroin weekly. As
has been stated, the other principal outlet for the illicit narcotics of
the N e w York traffickers was Illinois and Texas. Abe Chapman and
James Russo, prior to their arrests, took large quantities of illicit
narcotics to Texas for the conspirators. A n important outlet for
Chapman was the notorious Charles Beland of Fort Worth. Some
time after the arrest of Russo and Chapman in N e w Orleans and their
subsequent imprisonment, Philip N. Chadwick became the principal
distributor for illicit narcotics in the northern Texas area. It was
estimated that during certain periods in 1939 this ring sold in the Texas
area approximately 500 ounces (14 kg. 175 gm.) of adulterated heroin
weekly. Chadwick lived at various addresses in Fort Worth until
about January 1939, when he rented a farm in the vicinity of Arlington,
Texas, and from that point continued to carry on a narcotic traffic,
the distribution having been several hundred ounces of drugs weekly.
InM ay 1939, Chadwick leftFort Worth and did not return, apparently
because of reports which he had received that his activities were being
scrutinized. With his departure from Fort W orth, Chadwick en
trusted the distribution of narcotics to one Nelson Harris. Harris
was arrested in 1939. As the investigation disclosed the scope of
Chadwick’s activities an intensive effort was made to apprehend him
which culminated in his arrest at Chicago, 111., on M a y 22, 1940.
It is interesting to note the habitual and in some cases desperate,
criminal character of many of the defendants in this case. All except
5 of the 29 had previous criminal records. At the time of his indict
ment dn this matter Chadwick was a fugitive in connection with a
pay roll“robbery in Los Angeles, Calif: (he was carrying 4 loaded
revolvers in a brief case when arrested); Schiffman was on parole
from an Illinois penitentiary in connection with a sentence for robbery
and had a pending charge in N e w Jersey for a hold-up with a gun;
2 others involved, Emanuel Weiss and James Russo, alias James
Feraco, are fugitives and under indictment for murder in Kings
County, N. Y., as co-defendants with the notorious Louis (Lepke)
Buchalter and Philip Cohen. Russo also had a previous conviction
on violations of the Federal narcotic laws and for violation of the
postal laws, and a 25-year sentence in N e w Jersey for robbery.
Arthur C. Roberts’ criminal record shows three previous con
victions for violations of the Federal narcotic laws; and a conviction
for receiving stolen property and for disorderly conduct.
TRAFFIC IN OPIUM
41
Jerry Siegel had been arrested in 1938 in Chicago, 111., for robbery.
After being released on bond and while awaiting trial in the instant
narcotic case, Siegel was murdered in Chicago by persons unknown.
Glenn Cox had four previous convictions for violations of the
Federal narcotic laws, and Jake Leftak had one.
Charles Beland had four previous convictions for violations of the
Federal narcotic laws and a conviction and 3-year sentence for theft.
Moe Liss, alias Tommy Cooper, had two previous convictions for
violations of the Federal narcotic laws, one for carrying a concealed
deadly weapon as well as for grand larceny. He has been arrested on
several occasions for homicide, and is alleged to be a professional
killer.
Thomas Stobble, in addition to two previous convictions for viola
tions of the Federal narcotic laws, was convicted in 1921 for robbery
and sentenced to from 3-20 years.
Dewey O. Ross had served six prior sentences for narcotic law
violations and two for burglary.
Abe Chapman had two prior convictions for Federal narcotic law
violations, and an arrest for theft.
After convictions at Fort Worth, Tex., in July 1940, the following
sentences were imposed upon the defendants named:
■Charles Schiffman__________ 10 years’ imprisonment (this sentence is to be
served after he completes a 6-year parole
violation term for robbery imposed as a result
of this investigation).
Jake Leftak________ - - - - - - 2 years’ imprisonment.
Philip N. Chadwick________ 12 years’ imprisonment (he still faces pay-roll
robbery charges).
Mrs. Philip N. Chadwick____2 years to serve and thereafter probation for 5
years.
Abe Chapman_____________ 8 years, imprisonment (to commence after expira
tion of a 4-year sentence he is now serving).
Nelson Harris________ -- - - - 2 years’ imprisonment.
Bernard H. Schaffer________ 4 years’ imprisonment.
Charles Beland____- ____ __ Conviction for conspiracy. Sentence pending.
Cliff Green_________- _____ 2 years to run concurrently with sentence of 3
years he is now serving.
Tommy Stobble___________ 2 years’ imprisonment.
Henry Moore___________ _ Sentence suspended pending cure at U. S. Public
Health Service hospital.
Albert Goldstein___________ 2 years’ imprisonment, suspended for 5 years.
■George Taylor_____ U__ ;_H__ 2 years’ imprisonment, suspended for 5 years.
Arthur Roberts____________ 18 months’ imprisonment to run consecutively
with sentence he is now serving.
Jacob Roamer______ ______ 2 years’ imprisonment to run concurrently with
sentence he is now serving.
Charles Bernardi- __________ 2 years’ imprisonment, suspended for 3 years.
Louis Sherman and Mrs. Nelson Harris were found not guilty by
the jury, and dispositions as to the remaining defendants are pending.
42
TRAFFIC IN OPIUM
Isadore Kayne and Robert Gordon Case
After having been fugitives from justice for more than 4 years in
connection with their indictment for Federal narcotic law violations,
Isadore Kayne and Robert Gordon, important figures in the illicit
narcotic traffic, were finally apprehended in New York City in July
and August 1940. They were taken to Dallas, Tex., where they
pleaded guilty and both were sentenced, on August 8, 1940, to 15
years’ imprisonment.
Kayne and Gordon had been indicted in Texas in 1936 along with
18 other members of the Ginsberg gang. (Under these indictments,
containing 55 counts, Louis Ginsberg, Dallas leader of the drug syndi
cate, was convicted in 1936 and sent to prison for 50 years and fined
$10,000. The syndicate distributed to jobbers in the Southwest
approximately 500 ounces of adulterated heroin weekly which they
obtained from Kayne and Gordon in Chicago, and which in turn had
been obtained through the Newman 10 brothers in New York City.)
Kayne was also indicted along with the Newman 10 brothers in
New York City but in view of the substantial sentence given to him
in Texas, the indictment against him in New York City was dismissed.
Smuggling from Mexico
Leopoldo Trevino, Lewis L. Steelman, and Jesus Varela were
arrested by customs officers and a narcotic agent at Douglas, Ariz.,
after they had smuggled 161 ounces (4 kg. 564 gm.), net, of raw opium
into the United States from Mexico. The opium was contained in an
old gallon cocoa tin and a smaller tin can. This seizure was effected
as a follow-up of a conspiracy originating in New York City, and Tre
vino admitted that the smuggling scheme was planned in Leavenworth
Penitentiary last year when he and Steelman were serving sentences
there for violation of the narcotic laws. On July 29, 1940, Trevino and
Steelman appeared in Federal court at Tucson, Ariz., and entered
pleas of guilty. Trevino received a prison sentence of 2}i years, a
fine of $500, and was placed on probation for 5 years to begin at the
expiration of the prison sentence; Steelman was sentenced to 3 years’
imprisonment, fined $500, and placed on probation for 5 years to
begin at the expiration of the prison sentence; Varela was later
sentenced to 13 months’ imprisonment, fined $500, and placed on
probation for 5 years to begin at the expiration of the prison sentence.
The Mexican authorities were apprised of the facts in this case, and it is
understood that they have instituted an investigation in Mexico.
City police at El Paso, Tex., on August 11, September 11, and
September 13, 1940, respectively, arrested Trinidad Lozano, Jose
Gallardo, and Jose Benito Gomez, Mexican citizens, in possession of
(ioNewman brothers case reviewed on p. 26of this report.)
TRAFFIC IN OPIUM
43
small quantities of heroin and morphine. Since it appeared in each
instance that the drugs were smuggled into the United States from
Mexico, the prisoners were turned over to customs officers for prose
cution, and the cases are pending. The Mexican authorities were
notified of these seizures, as well as of the seizure of a small amount of
heroin at El Paso on July 8, 1940, by customs patrolmen from one
Arthur Fraley, American citizen. Fraley, who will be prosecuted,
obtained the heroin in Juarez, Mexico.
Two persons are being held at Nogales, Ariz., for prosecution by
customs officers in connection with their attempt to smuggle 29
tablets containing codeine into the port from Nogales, Sonora, Mexico.
The tablets were contained in paper envelopes and a glass vial,
marked “Veganin—Anti-Neuralgica—La Campana, Mexico, D. F.,
Mexico, and Godecke & Co., Berlin.” Although there have been
many technical seizures during recent years of “Veganin” tablets
containing codeine, this is the first instance of a criminal prosecution
resulting from such seizure. In this case the defendants, Frank
Jones and Rose Carter, proceeded to Nogales, Mexico, from Tucson,
Ariz., for the express purpose of securing the codeine tablets for
satisfaction of drug addiction.
SIGNIFICANT CASES OF ILLICIT TRAFFIC IN THE HAWAIIAN ISLANDS
Upon the arrival of the steamship President Coolidge at Honolulu
on January 26, 1940, the master of the vessel reported to customs
officers that on January 25, while at sea, he had found sixteen 2-ounce
packages of cocaine, of a total net weight of 32 ounces (907 gm.),
concealed in a sand locker, and that he had thrown the cocaine over
board. According to the statement of the master, he had received
information while in Hong Kong that a quantity of cocaine was
concealed on board the ship, and he had instituted many searches,
without result. Finally, on January 25, while searching the sand
locker which contained 10 or more 100-pound bags of sand, he noticed
that all were tied with wire, except 1 which was tied with a grass
string. This seemed significant to him and he immediately opened
the bag and found therein the 16 packages of cocaine.
NONNARCOTIC SUBSTANCES FALSELY LABELED AS NARCOTIC DRUGS
Seizures in the South Central area of nonnarcotic substances falsely
labeled as narcotic drugs and smuggled into the United States from
Mexico, were three in number, in comparison with two such seizures
in the year 1939.
On January 6, 1940, customs patrolmen at Laredo, Tex., acting on
information that Jose Maria L. Garza had smuggled a quantity of
morphine into the United States from Mexico, arrested this person
and found in his possession two tins bearing the purported label of
319383— 41------- 4
44
TRAFFIC IN OPIUM
E. Merck, Darmstadt, with the serial number 273946 and marked
“ clorhidrato de morfina.” Chemical analysis disclosed that this
substance was a mixture of brucine and caffeine. The criminal case
is pending. The Report on Traffic in Opium and Other Dangerous
Drugs for 1937 reviewed two seizures of nonnarcotic substances bear
ing the forged label of E. Merck, Darmstadt. The labels were
identical with those described above.
On February 20, 1940, narcotic agents at Houston, Tex., purchased
141 grains (9 gm.) of heroin from Mrs. W. L. Knobles. On March 4,
1940, they arrested Mrs. Knobles and one Joe Edgar Bullington and
seized 281 grains (18 gm.) of heroin and three bottles of alleged
morphine, which was, found to be brucine sulfate. The labels on
these bottles were forgeries of those of the Merck firm and bore the
serial number 6110. These labels are more elaborate than those on
the tins described above and are a rather clever forgery of genuine
Merck labels. A description of this particular forged label was given
in the Report for the year 1939. The defendants in this latter case
admitted that they purchased the bottles of brucine in Mexico.
Acting on information that Patrick N. Collino would attempt to
smuggle a quantity of narcotic drugs into the United States from
Mexico, customs patrolmen stationed themselves near a school in
Nogales, Ariz., and observed Collino pick up a package from the
ground. He was arrested and examination of the package disclosed
that it contained a glass jar of prepared opium, weighing 6 ounces
(170 gm.), net, and a glass bottle of purported morphine, bearing
the alleged label of E. Merck, Darmstadt. Chemical analysis dis
closed that the substance was actually brucine. The label was
identical with that described in the seizure from Mrs. W. L. Knobles,
et al. Subsequently, two companions of Collino, Domenico Nicolas
Prato and Raffaele Quasarano, were arrested. The defendants are
being held for prosecution.
These three seizures were called to the attention of the Mexican
and German authorities.
When narcotic agents at New York City on September 11, 1940,
apprehended a Chinese fugitive, wanted on a narcotic charge at
Chicago, 111., they found in his possession eight 5-tael tins of pur
ported prepared opium. Examination of the contents of the tins
disclosed that the substance was of a black, gummy nature, resembling
prepared opium, but having no narcotic content. The tins, which
bore no marks or labels, were made of copper and resembled 5-tael
tins, except that they were somewhat larger.
At Oakland, Calif., during September 1940, a Japanese was de
frauded of $1,700 by two other Japanese in a “bunco game” involving
the sale of a number of tins of alleged prepared opium which was
subsequently found to be of a nonnarcotic nature. The victim
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TRAFFIC IN OPIUM
45
.
swore out a grand larceny warrant against the other two Japanese,
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who are believed to have perpetrated the same trick on other victims.
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Seizures of Medicinal Preparations Containing Narcotic Drugs
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During the year, there were a great number of seizures, not involv
ing criminal prosecutions, of a codeine preparation called “ Gelonida
Anti-neuralgica,” or “ Veganin.” The majority of these seizures
were effected at New York City, and the manufacturer of the preparation was, in most instances, the firm of Godecke & Co., Berlin. However, there were also effected a number of seizures of “Veganin”
at Mexican border ports, the labels bearing the “ Godecke” firm
name, as well as that of the Mexico City firm of La Campana, S. A.
One seizure at Nogales, Ariz., resulted in the arrests of three persons,
one of whom, at least, is a drug addict. Seizures of Chinese medicinal
preparations containing narcotic drugs appeared to be less frequent
than in recent years, the 100 percent examination by customs officers
of such shipments, no doubt, acting as a deterrent,
Seizures of Opium Poppy Pods
From figures available, it would appear that there were no important
seizures of opium poppy seed pods effected during the period under
review.
Illicit Traffic by Post, Express, Railway, and Air
With the exception of a case involving the smuggling of raw opium
from Culiacan, Mexico, to Mexicali, Mexico, via Nogales, Sonora,
Mexico, Nogales, Ariz., and Calexico, Calif., and a few instances of
the smuggling of marihuana (cannabis) from Mexico to Los Angeles,
Calif., via El Paso, Tex., there were no significant cases of the trans
portation of narcotic drugs by post> express, railway, or air.
Drugging,of Race Horses
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The following are examples of cases made in connection with the
drugging of race horses:
Based on information submitted to the Bureau of Narcotics by the
New York State Racing Commission indicating that the horse “Sun
Plume” had been stimulated with narcotics before winning a race, an
investigation was made which resulted in the indictment of several
persons for conspiracy to violate the Federal narcotic laws. The case
was tried in May 1940, at which time Richard Hohman and Peter
Panza, persons not connected with the race track, were convicted.
Hohman was sentenced to imprisonment for a year and a day, and
Panza to imprisonment for 19 months.
46
TRAFFIC IN OPIUM
Following a report from the New York State Harness Racing
Commission that saliva tests taken from two horses which had com
peted in a race at Westbury, Long Island, in September 1940, indicated
stimulation of the horses by narcotic drugs, an investigation was made
by the Bureau of Narcotics. It resulted in the arrest of Edward
Horton, a stable manager, and Edward P. Jones, in connection with
the unlawful possession by Horton of a quantity of heroin; and in
October 1940 Horton was tried, convicted, and sentenced to 2 years’
imprisonment. Jones has not yet been brought to trial.
DIVERSIONS
As in the past 4 years, cases involving unusual gravity in the matter
of prescribing or dispensing large quantities of narcotic drugs to addicts
not in the course of bona fide medical treatment but solely for the
purpose of satisfying or catering to drug addiction have been concluded
during 1940 against several physicians and druggists who have thus
abused their professional function and entirely disregarded the Federal
narcotic laws. Such diversions remain a significant problem. Brief
summaries of some of the cases follow:
Case of Dr. Alexander S. Waiss, Los Angeles, Calif.
Following a joint investigation by Federal narcotic agents and
officers of the California State Narcotic Enforcement Division, Dr.
Alexander S. Waiss, a physician practicing in Los Angeles, Calif.,
was indicted on 60 counts on November 27, 1940, for violations of the
Federal narcotic laws.
The inquiry disclosed that the doctor was supplying drugs (by
means of so-called prescriptions) to addicts to satisfy their addiction
when there was no medical need. It was also ascertained that addicts
had passed the word along to other addicts that this doctor would
readily supply drugs; that he would prescribe any variety of drugs
desired—in other words, the doctor permitted the addict to indicate
his own prescription. In line with this practice Dr. Waiss had written
“prescriptions” for laudanum, pantopon, dilaudid, and morphine.
It was found that at least 12 addicts to whom he furnished “prescrip
tions” did not have a legitimate medical need for drugs. An extraor
dinary feature of the case was that every one of the addicts them
selves claimed that they really had no need for drugs but they had
called on this physician merely because they understood he would
supply drugs readily. The case was declared by the Assistant United
States Attorney to be a “particularly vicious one” in that several
addicts who “were off the stuff” for a period of years, assertedly had
resumed its use after being put in contact with Dr. Waiss. The
criminal records of the “patients” for whom this physician had been
TRAFFIC IN OPIUM
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47
prescribing narcotics reveal prior arrests and convictions for every
type of criminal activity, many of the records being exceedingly
lengthy.
On December 9, 1940, Dr. Waiss entered a plea of nolo contendere
and was later placed on probation for a period of 2 years, upon condition that he refrain from dispensing or prescribing narcotic drugs
during the period of such probation.
The facts surrounding these violations of the Federal narcotic drug
laws by Dr. Waiss were presented to the Secretary of the Board of
Medical Examiners for the State of California with a view to the
revocation or suspension of the license theretofore issued him and the
consequent withdrawal of his right to purchase, sell, or dispense
.
narcotic drugs,
Case oj Dr. Vernon B. Fox, and Bobert Lee Eblen and Joe Curtiss
Garrett, Druggists, Leachville, Arkansas.
After information had been received that Dr. Vernon R. Fox, of
Leachville, Ark., was commercializing in narcotic drugs on a large
scale and was selling them to persons having no medical need for such
drugs, an investigation was concluded on May 29,1940, with the arrest
of Dr. Fox and the two druggists involved, Robert Lee Eblen and
Joe Curtiss Garrett. The transactions which resulted in these arrests
were 16 illegal sales covering 3,145 morphine tablets, for which 397
“prescriptions” were written in many fictitious names and variously
dated. No examination was made by the doctor at any time to determine the person’s alleged need for drugs, and apparently he sold
drugs in large quantities to any person having the money to pay for
them.
Dr. Fox would take the money from the purchaser, secure the drugs
from the druggist or his assistant, and deliver them himself to the
purchaser. He would then write a number of fictitious “prescriptions” and give them to the druggist to be placed on file in the Eblen
Drug Store to explain the transactions. On 1 occasion $14 was paid
to Dr. Fox for a “prescription” for a 4-day supply of drugs for 2 men;
another time $28 was paid and the doctor wrote “prescriptions” in
5 fictitious names, after which he and the druggist furnished 336
morphine tablets. On other occasions $50 was paid for 598 tablets,
and $60 for 700 tablets.
During a 9-month period the Eblen Drug Store had purchased
38,000 morphine tablets. In the same period Dr. Fox had written
1,454 so-called prescriptions calling for 31,667 morphine tablets, all
of which were filled at the Eblen Drug Store.
Dr. Fox pleaded guilty and was sentenced on November 25, 1940,
to serve 2 years in a United States penitentiary and was also placed
48
TRAFFIC IN OPIUM
on probation for a 5-year period following expiration of his prison |
sentence, on condition that he handle no narcotic drugs in his practice
and refrain from re-registering under the Federal narcotic law during
the period of his probation.
Robert Lee Eblen, druggist, pleaded guilty and was also sentenced
to serve 2 years in a United States penitentiary, on the grounds that
he had furnished large quantities of morphine to Dr. Fox in return for
fictitious prescriptions, with full knowledge that the morphine so fur
nished was intended for illicit sale. He shared equally with Dr. Fox
in the profits of these illicit sales. Joe Curtiss Garrett pleaded guilty
and was given a 3 years’ sentence, which was probated, for the reason
that this defendant, although he participated in furnishing morphine
on known fictitious prescriptions, did not share in the profits of the
illicit sales and took part in the transaction only because he was an
employee of Eblen.
The facts regarding these violations by Dr. Fox and Druggists
Eblen and Garrett have been reported to the State licensing boards
for the State of Arkansas with a view to the revocation or suspension
of their licenses.
Case of Dr. W. E. Bailey, Little Rock, Ark.
After making 16 illegal sales of morphine to Federal officers, Dr.
W. E. Bailey, of Little Rock, Ark., was arrested on May 10, 1940.
Investigation disclosed that in 6 months Dr. Bailey had written
3,376 prescriptions calling for 55,165 morphine tablets; 2,253 of these
so-called prescriptions were written for 26 known addicts having no
medical need for drugs. On 2 occasions the defendant exchanged 50
grains of morphine to a narcotic agent for watches represented to he
stolen property. Later Dr. Bailey was re-arrested while attempting
to influence testimony of a Government witness by giving him mor
phine. In some instances this doctor issued as many as 4 “prescrip
tions” (these were filled at different drug stores) for the same addict
on the same day. Several of the drug addicts in turn sold to other
addicts the excess morphine thus obtained.
On November 13, 1940, Dr. Bailey pleaded guilty and was sentenced
to serve 5 years in the United States penitentiary and to 5 years
probation at the expiration of his sentence. In sentencing him, the
United States district judge made the following comments:
You have prescribed more morphine than most doctors in this State would
prescribe over a long, long period. You have created destruction of character by
your methods.
You have proved yourself unworthy to practice medicine or to prescribe medi
cine for. anyone. You and men like you are tearing down the morale of our youth.
The condition is terrible in Arkansas. It became so bad that the Government had
to bring special investigators in from other States to cope with it. The practice
has got to stop.
TRAFFIC IN OPIUM
49
I am not going to take any chances on any State medical boards in your case.
1 am going to place you on probation for 5 years at the conclusion of your sentence
on the other counts against you, providing you surrender your certificate to
practice medicine in this State. You cannot be trusted to practice here or in any
other State.
The facts in this case have been reported to the State medical board
of Arkansas.
The following item from the Arkansas Gazette, Little Rock,
November 24, 1940, shows the improvement in conditions in Arkansas
after the prosecution of a number of physicians who had been upre
scribing’; or dispensing large quantities of drugs to addicts not in the
course of bona fide medical treatment:
Arkansas no longer is the mecca for “dope” addicts that it was only 12 months;
ag0 * * * at that time, Government officials say, there were at least 75
known addicts in Little Rock * * * they came here, and it was borne out in
testimony in several narcotics cases in United States district court in the past
2 weeks, because it was easy to get narcotics here * * * many of the addicts
testified to this, and the comparatively low prices brought them here * * *
one told the court he came here from Texas. Those persons convicted in the past
2 weeks of selling morphine found little sympathy from the courtroom (spectators,,
especially after the addicts had been placed on the stand. The reason that
Arkansas no longer is the mecca for addicts is the work of an entirely new force
of agents of the Bureau of Narcotics here and stiff penalties imposed by Federal
Judge Trimble * *’ * the agents let it be known that they meant business,
and the court signified his approval of the agent’s work by meting out long prison
sentences. Since the agents started their drive early this year, addicts testified
they have been forced to stop using the stuff because they no longer can get it.
I llicit T raffic
in
M arihuana 11 (Cannabis Sativa L.)
The illicit traffic in marihuana continues to be a serious enforcement
problem although further progress was made during the year in
bringing it under control. As pointed out in previous reports the traffic
in this drug.is separate and distinct, except in isolated instances, from
the traffic in other drugs, both as to sellers and users.
During the year Federal officers reported 950 violations of the
Federal marihuana law, involving 1,732 seizures of marihuana in
various forms, and 870 arrests. (See table 1-B.) The arrests and
seizures of marihuana by State officers, acting independently of
Federal officers, are set out in table 4. In addition the Federal
Government, in cooperation with State and municipal enforcement
agencies throughout the country, conducted a program of marihuana
eradication involving growths of varying density on 47,584.553 acre»
(19,257 hectares) of land, of which that growing on 19,209.24 acres(7,774 hectares) of land was definitely reported to have been destroyed.
'Many State and city officers throughout the country have rendered
valuable assistance in marihuana eradication work.
» For informationregardinglegitimate cultivation see IX, Marihuana (Hemp).
50
TRAFFIC IN OPIUM
Few of the cases of internal traffic reported under the Federal
marihuana law are of sufficient international interest to be set out in
detail.
While most of the marihuana in the illicit traffic was supplied from
internal growth, there was an appreciable increase in the petty smug
gling of marihuana into the United States by seamen on vessels touch
ing at Central American, South American, and other ports. There
was likewise an increase in the smuggling of marihuana over the
border from Mexico. Several of the most important of such cases
follow:
On October 26, 1940, Bernabe Figueroa, crew member of the Ameri
can steamship Argentina, just arrived at the port of New York from
South America, was arrested by customs officers in possession of 1;
pound 15.1 ounces (882 gm.) of bulk marihuana concealed in the false
bottom of a suitcase. Subsequently, the defendant was sentenced
to imprisonment for 1 year and 1 day. On October 28, customs i
officers at New York City found 1 pound 1.28 ounces (490 gm.), net,
of bulk marihuana concealed in a locker on the S. S. Argentina. On
the same day, Eligio Rijos and Raymundo Gonzalez, seamen on the
Argentina, were arrestecl by customs officers after they had effected
the smuggling ashore of 9 pounds 1.35 ounces (4 kg. 121 gm.), net, of
Si lesAr
bulk marihuana. The prisoners stated that they purchased the
marihuana in Santos, Brazil. On November 13, 1940, Gonzalez was
sentenced to 3 years’ imprisonment, while Rijos received a sentence m
of 18 months.
Customs officers at Jersey City, N. J., on October 2, 1940, were
informed by the master of the steamship President Van Buren, arrived
in port from Far Eastern ports, that George A. Harms, an oiler on the
vessel, had been under a physician’s care, owing to narcotic addiction.
The captain turned over to the officers the following quantities of ci fette
narcotic drugs found in Harms’ possession: Prepared opium, weighing
0.00474 ounce (0.13 gm.), net; cannabis, of a total net weight of 0.4726
ounce (13 gm.). The cannabis in one instance consisted of a brown
gum, containing a resin of the plant, which appeared to be similar to
hashish, or charas, as it is termed in British India. A small paper
box containing dried, pulverized tops and leaves of the cannabis,
bore the following marks: “Govt, opium and hemp drugs depot,
Bombay— 1/2 Tola Ganja.” The cannabis in the box had the same
general appearance as the marihuana commonly encountered in the
United States, except that it was not quite so finely pulverized and
was of a somewhat more sticky consistency. This seizure was called
to the attention of the British authorities.
Cannabis in the form of hashish, or charas, was seized by customs
officers at Savannah, Ga., on December 8, 1940, on the American
steamship Black Condor, which vessel arrived at Savannah from Bom-
TRAFFIC IN OPIUM
51
raj bay and other Far Eastern ports. As in the case of the cannabis
in seized at Jersey City, this seizure consisted of a brown gum, and
weighed 2>){ ounces (92 gm.), net. Ownership of the cannabis was
)IDnot determined.
The following seizures of cannabis seed on Japanese vessels were
>b. effected, the seeds being carried for use as a condiment in the preparair6 tion of “Sushi,” a popular Japanese dish:
H July 7, 1940, at Honolulu, 2 pounds (907 gm.) of cannabis seed, ex
3eg S. S. Tatuta Maru.
September 12, 1940, at Terminal Island, Calif., 58 pounds (26 kg.
srj. 308 gm.), net, of cannabis seed, ex S. S. Kansai Maru.
3J,, September 18, 1940, at Wilmington, Calif., 6 pounds 5 ounces (2 kg.
[ j 863 gm.), net, of cannabis seed, ex S. S. Kansai Maru.
lse October 25, 1940, at Boston, Mass., 1 pound (454 gm.) of cannabis
,e(j seed, ex S. S. Nozima Maru.
ms Seizures of marihuana in the form most frequently encountered in
the United States were effected at New Orleans on the steamships
Oj Delmundo, coming from South American ports, and Allister, arriving
-j™direct from Coatzacoalcos, Mexico.
he(j A seizure of marihuana cigarettes and bulk marihuana was made
0j by customs officers at Honolulu on September 27, 1940, ex United
Oj. States Army transport Republic.
p.as Customs officers at Wilmington, Calif., on July 6, 1940, seized
1C( marihuana cigarettes from a crew member of the Philippine steamship
Don Jose, coming from Manila.
At Mayaguez, P. R., on May 24, 1940, customs officers arrested
^e(j two seamen on the steamship American Press in connection with the
ljJ seizure of 28 marihuana cigarettes.
on At points on, or adjacent to, the Mexican border, marihuana in
j cigarette and bulk form was seized at the following ports: Ysleta,
• Mercedes, Laredo, Brownsville, McAllen, Eagle Pass, and El Paso,
Tex.; Douglas and Nogales, Ariz.; Deming, N. Mex.; and Calexico
WE and Los Angeles, Calif. In connection with two seizures of marihuana
. at Los Angeles, investigation disclosed that the drug had been smuggled into the port of El Paso, Tex., from Mexico, and then shipped to
Los Angelas by express.
>0 fi
C rimes A ssociated W ith M arihuana
,me
the The following incidents observed by Federal narcotic agents during
md the course of an investigation into a marihuana law violation have
Lied been cited by the agents as an illustration of the unexpected action
that an individual under the influence of marihuana may take:
>ms On February 24,1940, in Sacramento, Calif., five men were involved
car in a deal for a half pound of marihuana; two informants, one contact
>m-man and two peddlers of marihuana identified as J. and R. R. was
52
TRAFFIC IN OPIUM
negotiating the sale. The money, $ 12, was paid to him and he told
J. to “Give it to him,” meaning to give the marihuana to one of the
purchasers. | J. being under the influence of marihuana misunderstood
what was wanted and instead of handing the marihuana to the man,
he threw it over the bridge into the Sacramento River, drew a knife, j
slashed the two informants and eventually turned on his own partner,
rushing at him with the knife.
This transaction is an example of the danger sometimes experienced
in dealing with marihuana users as well as pointing to the danger of
having users of this potent drug at large in the community, when one
will make an assault with a deadly weapon» on his own partner during -j
the regular course of his business.
The murders and suicide described in the following cases are typical |
of the crimes associated with marihuana:
Near Del Rio, Tex., on September 11, 1940, one Eleutero Gonzalez,
allegedly while under the influence of marihuana, shot to death two
women and then committed suicide in a manner which indicated that ■
he was bereft of all reasoning. A description of the crimes was con
tained in the Sheriffs’ Association of Texas Magazine for September
1940, excerpts of which are quoted:
T R I P L E T R A G E D Y S H O C K S D E L R IO A N D E N T I R E S O U T H W E S T
* * * The Gonzalez case was one of the most brutal that Del Rio has seen
in many years. The victims were Antonia and Margareta Gomez, sisters, the
former a 34-year-old school teacher and the latter 23 years old, a nurse. The
third victim,. Eleutero Gonzalez, about 30 years old, who subsequently died of
self-inflicted wounds, had slain the two sisters near Del Rio. The young women
were shot to death. * * * The killer, probably maddened in the realization
of the magnitude and horribleness of his crime, * * * literally sliced himself
to bits about the abdomen, around the heart and throat. He was found about 38
hours after the crime in a semiconscious condition and died a few hours later.
Gonzalez did not remember anything which had taken place.
No trouble had ever been known to exist from the association of Gonzalez and
the teacher, who was highly respected in the Del Rio community, and had taken
an active part in Girl Scout work and whose family likewise was held in high esteem.
The only thing officers knew about the habits or conduct of Gonzalez was that
he had, earlier in the year, been sentenced to a long penitentiary sentence upon
conviction of rape, the victim being a 12-year-old Mexican girl. At* the time of
the latest tragedy Gonzalez was free on bail pending appeal.
It was the opinion of the law enforcement officers that Gonzalez
was under the influence of marihuana at the time of the double murder
and suicide. They also believed that he had previously used mari
huana. A handful of marihuana was found in Gonzalez’ room after
the tragedy. It was the opinion of the doctor who saw Gonzalez
just before he died, that no one could have mutilated himself as
Gonzalez was mutilated, unless he was unable to feel “ shock” and the
only thing he knew tl^ t would produce such a condition, to such a
TRAFFIC IN OPIUM
53
degree, is marihuana. The doctor further stated that no amount of
alcohol could possibly “ de-sensitize” the nerve centers to the extent
►od. that .it would be possible fôT-anyone to receive>so many cuts and stabs
without collapsing. Indications were that Gonzalez had wandered
tfe, around in the fields for hours after the killing and after his selfer> mutilation.
jed On August 4, 1940, in a hotel room in Spokane, Wash., Joseph
of Mines, 26 years of age, battered almost beyond recognition the body
me of 74-year-old John Karakinikas. Apparently Mines had never
ing known Karakinikas before the moment he jumped through the window
of his room and beat him to death. Mines had jumped from his own
room 18 feet above, and after the crime jumped 30 feet to an alley
cal without injury to himself. He said he felt as if he Were flying, and he
claimed to have no recollection of what he had done,
bz,
Mines alleged that he had been crazed by smoking two marihuana
wo cigarettes. A small quantity of the drug was found in his room, and
tiat he had just been released a few days previously after serving a sentence
on- for the possession of marihuana.
ber
He pleaded guilty to the manslaughter charge and was sentenced
to serve 20 years in a State penitentiary.
VI. Other Information.
E d u c a t io n a l W ork
the
During the year, preventive educational work, particularly regardrhe ing the abuse of marihuana, was continued. Direct propaganda to
1 °f youth has been discouraged because of the danger of arousing curiosity.
I!en
Continued assistance has been rendered by various women’s organizations throughout the country, particularly by the National Woman’s
138 Christian Temperance Union and the General Federation of Women’s
/ter. Clubs, in the dissemination of educational material to prevent the
abusive use of narcotic drugs.
and
There has been considerable demand for speakers and for written
' ^ information on the narcotic and marihuana problems. Numerous
-hat addresses were delivered, on request, by various supervisory officials
pon of the Bureau to organizations in all sections of the country
e °f such as the various medical associations, various police schools, the
American Legion, various churches, hospital groups and lodges,
liez Kiwanis, Rotary, and other clubs, colleges of pharmacy and science,
der parent-teacher associations, Peace Officers Associations, Annual Conari- vention of the Pacific Coast International Association of Law Enforcefter ment Officials, meeting of International Association of Chiefs of Police,
liez National Association of Retail Druggists, American Pharmaceutical
as Manufacturers’ Association, National Association of State Racing
the Commissioners, American Prison Association Conference, and other
h a interested groups.
TRAFFIC IN OPIUM
54
The Commissioner of Narcotics personally fulfilled a number of
lecture engagements before national groups on the narcotic problem.
Excerpt from report received during 1940 from District Supervisor
of the Bureau of Narcotics, Boston, Mass.:
During a routine investigation it became necessary to check the records of a
local firm which compounds a certain preparation containing 2 grains of opium j
per ounce. The order forms covering the past 4 years show purchases of 6 |
pounds of opium per year for use in the preparation. The same person had been
in charge of the drugs in this laboratory for about 60 years. He stated that
when he first worked there, the company purchased opium in 100-pound lots
yearly for use in this same preparation.
C ourts
shot
er!
c rgia-Te
1»meed1
■as
In sentencing Dr. John M. Stanford, of Russellville, Ark., on Novem- j 11 »dhoun
ber 8, 1940, to serve a year and a day in a United States penitentiary, j loevi
and to be placed on 5 years’ probation, for violations of Federal nar
cotic laws, the United States district judge denounced physicians IigCfl.
“who,” he said, “violate the ethics of their profession of healing by
destroying character in the illegal handling of narcotics and the trust
bugs,
placed in them as physicians.”
e apt to
The judge declared that “these men violate a sacred trust when they
Issisi
prescribe narcotics without treatment, and this reckless practice
yO
among doctors of this state must be put to an end.”
R ecidivism
in
N arcotic L aw V iolators
'orotl
Nonaddided Narcotic Law Violators Frequently Have Records as d ie 39 (
Dangerous Criminals
During the year it was noted that a number of the persons involved
in narcotic law violation cases were desperate criminals. As a general
rule, these criminals were not addicted themselves to the use of drugs,
and had long previous police records of a nonnarcotic nature. The
following case is of interest in this connection:
On December 14, 1940, at Lincoln, Nebr., in a robbery at gun point,
about 400 tablets of morphine, pantopon, and codeine were taken from
the Fenton Drug Co. safe by an unknown person. About 10 days
later, the Lincoln police department noticed a news item relative to
the arrest in the State of Georgia of one Charles Edward Coates, who
was charged with murdering a highway patrolman. The Bureau of
Narcotics was requested to investigate because of the statement indi
cating that narcotics had been found in the possession of Coates, and
it was learned that these drugs bore the label “Fenton Drug Co.” thus
linking Coates to the crime in Nebraska.
Before the hold-up which he committed in Lincoln, Coates had
escaped from a penitentiary in Missouri where he was serving a life
sentence. He managed to steal an automobile in Oklahoma, and
lurini
assist
)ue
t n wi
I del
Id
ere
the
o
TRAFFIC IN OPIUM
55
later shot and killed the highway policeman in Georgia, when the
officer stopped his car to caution him about reckless driving. He
then escaped again and became the object of a 5-day hunt in the
Georgia-Tennessee woods. He was finally apprehended and con
victed at Ringgold, Ga., of the murder of the State police officer, and
sentenced to be electrocuted.
Coates was 28 years of age and had a long criminal record dating
from 1929 for serious offenses, but none of which was concerned with
the narcotic laws. He had served sentences on at least three occa
sions; had escaped from prison twice; and had been a deserter from
the Army.
It was the opinion of certain officials in Georgia that stimulation
from narcotics had enabled Coates to keep ahead of the posse and
bloodhounds that searched for him for 5 days and nights, but there
was no evidence at the time of his capture to show that he had been
using drugs although about 100 of the tablets stolen from the Fenton
Drug Co. were missing from those in Coates’ possession when he was
apprehended. Indications were that Coates never had been addicted
to drugs. He refused to make any statement regarding the narcotics
except to insist that his wife whom he had married 3 days previously
in Mississippi was innocent of any connection with them. Appar
ently Coates knew the value of the drugs as he had made the state
ment that he had “about $ 1,000 worth of drugs.”
For other criminal records of violators, see cases of Emanuel Weiss,
page 39 of this report, Charles Dong, page 38, George Klein, Charles
Schiffman, James Russo, Jerry Siegel, and Abe Chapman, pages 39,
40, and 41.
During the year the Federal Bureau of Narcotics secured from the
Federal Bureau of Investigation of the Department of Justice, and
made available for use at trials of the respective defendants, the
criminal history of 3,286 persons arrested for violation of the Federal
narcotic laws. This criminal background of defendants is furnished
to assist the courts in imposing adequate sentences.
D
e p o r t a t io n o f
A l ie n s
Due to war conditions abroad such as the lack of transportation
facilities, some difficulty was encountered during the year- in connec
tion with the deportation of aliens convicted of violations of the
Federal narcotic laws. Of 142 cases pending on January 1, 1940, and
71 reported during the year, deportations were accomplished in only 36
cases, as compared with 53 in 1939.
Under authority of legislation approved in 1931, in every case
where the convict is, prima facie, an alien, the conviction is reported
to the Bureau of Immigration and Naturalization of the Department
of Justice, which makes further investigation to determine whether the
TRAFFIC IN OPIUM
56
person is actually an alien and. whether there is any bar to deports-j
tion. The alien is not deported until his release from confinement
under the sentence imposed.
j
Action is taken by the Bureau of Immigration and Naturalization!
causing warrants of deportation to be issued m all cases of deportablel
aliens convicted and sentenced. Under the Federal deportation law,|
alien narcotic drug addicts who are convicted of violations of the
Federal internal-revenue narcotic drug laws not involving sale are not
deportable.
The statistical table showing the result of action taken in deporta
tion cases, with respect to convicted violators of the Federal narcotic!
drug laws, during the calendar year 1940, together with the number!
of cases previously reported and pending on January 1, 1940, will be
found in the appendix in table 7. This brings the total of aliens de
ported after serving sentences for narcotic offenses up to 930 since the
legislation became effective in 1931.
V ehicles S eized
in
C onnection W ith V iolations
N arcotic D rug L aws
of the
F ederal
On January 1, 1940, there were pending cases against 66 automo
biles valued at $25,695, and 3 trucks valued at $775. During the
calendar year 1940, 137 automobiles valued at $59,930 and 1 truck!
valued at $500 were seized in connection with violations of the Federal
narcotic drug laws.
The following table shows the disposition of the 207 vehicles valued
at $86,900:
V a lu e
Forfeited summarily--------------Forfeited judicially----------------Compromised-------------------- - Returned----------------------------Pending Dec. 31, 1940------------
___ $42,930
123 cars_ __ _
650
2 trucks________ ____
7,071
12 cars ---------- ______
1,630
2 cars -- ----- ______
___ 16,"866
-33.cars __ ------____
"625
2 trucks. --------___ 17,708
33 cars __ --------86, 900
207
Of the 137 vehicles forfeited, 69 were delivered under statutory
authority to field narcotic law enforcement officers for use pursuant to
the performance of their official duties, 21 were delivered to other
Federal agencies for official use, and 47 were ordered to be sold at
public auction.
V ehicles S eized
in
C onnection W ith V iolations
M arihuana L aw
of the
F ederal
On January 1, 1940, there were pending cases against 16 automobiles
valued at $6,215. During the calendar year 1940, 49 automobiles
57
TRAFFIC IN OPIUM
porta valued at $19,386 and 4 trucks valued at $805 were seized in connec
emeu tion with violations of the Federal marihuana laws.
The following table shows the disposition of the 69 vehicles valued
zatioi at $26,406:
Value
•rtaU
Forfeited summarily___________________ 34 cars. ---------- ------------ -- $10,390
n lai
2 trucks. 1 _____ . . . -----295
o f ft Compromised___________^-------------------2 cars------------------------ -4
485
“
ixeM
Returned__________________ ----------------Pending Dec. 31, 1940---------------------------
12 ca r s..,.---------------------17 cars__________________
2 trucks________________
4, 695
10; 031
510
porti
ircôü
69
26,406
umili
Of the 36 vehicles forfeited, 11 were delivered under statutoryv ili t
authority to field narcotic law enforcement officers for use pursuant to
us è
the performance of their official duties, 8 were delivered to other
ic e ti
Federal agencies for official use, and 17 were ordered to be sold at
public auction.
S t a t e B o ards
IDEE!
Under authority of the Federal law approved June 14, 1930, as
amended,
the Commissioner of Narcotics, on behalf of the Secretary
[itomi
of
the
Treasury,
continued furnishing the respective licensing boards
n g tk
in
the
several
States
with information in cases where licensed physi
i tm
cians,
dentists,
veterinarians,
osteopaths, or pharmacists had been
J1
eden
convicted of violations of the Federal narcotic drug laws or had been
reported by investigating officers as being addicted to the use of
valut
narcotic drugs. Assistance has been rendered these boards in the
Và prosecution of such persons with a view to the revocation or suspen
$42,1 sion of the licenses issued to them and the consequent withdrawal
I of their right to purchase, sell, or dispense narcotic drugs.
7,|
rii Statistical tables showing the number of convicted or addicted
16,Ü physicians, dentists, veterinarians, osteopaths, and pharmacists whose
4 cases were reported to and pending before the various licensing boards
17,1 at the beginning of the calendar year 1940, the number of persons
whose cases were reported during the year, and the action taken
86
thereon as reported to the Commissioner of Narcotics, together with
atutor the number of persons whose cases were pending at the end of the
uantt
calendar year 1940 will be found in the appendix as tables 6, 6-A,
o otte 6-B, 6-C, and 6-D .
soldi
As quoted on page 6, the American Medical Association made the
statement that “ Complete cooperation with the Bureau by State
licensing agencies will do much to further this significant work.”
,»
E DEE!
L ost O r d e r F orms
mobili
mobil
Official narcotic order forms, which must be used to cover all sales
or transfers of narcotic drugs under the law, are issued and sold to
58
TRAFFIC IN OPIUM
registrants by the Federal Government. From time to time some os
these official order forms are lost by or stolen from registrants, who arc
required thereupon to report the loss to the Commissioner of Narcoticsj
During the year 1940, 15 thefts and 226 instances of unaccounted for;
losses of such order forms were reported to the Bureau of Narcotics]4
The Commissioner sends a monthly list of such lost forms, showing
their identifying serial numbers, to registrants who are authorized to!
make sales of drugs, with instructions to refuse to honor those reported!
as lost or stolen when and if presented, but to report the circumstances,
transmitting the order form or forms to the Bureau of Narcotics for
investigation.
T hefts
Thefts of narcotic drugs from wholesale drug houses, retail pharma-!
cists, and physicians reported during the calendar year 1940, were
again greater than those reported during 1939 both in number and in
quantities of drugs involved. The increasing frequency of such
thefts notwithstanding the precautions taken against them reflects
the greater difficulty encountered by the addict and peddler in securing
their supplies of narcotics in the illicit traffic. A schedule of such
thefts by enforcement districts is set out in table 8 in the appendix.
B. RAW MATERIALS
VII. Raw Opium.
Raw opium is not produced in the United States and opium deriva-j
tives are not imported. All supplies of raw opium are, therefore, im
ported under official permit and all supplies of opium derivatives are
manufactured within the United States from the opium thus imported.
Such importation is permitted only for the manufacture of such
derivatives and for other medical and scientific purposes.
The importations of raw opium during the calendar year 1940 are
shown in the appendix, tables 9 and 9-A.
The revenue represented by the opium imported during the year
was $762,044.63, based on an import duty of $3 per pound and an
internal-revenue tax of 1 cent per ounce, or 16 cents per pound upon
the same opium.
VIII. Coca Leaf.
The coca leaf is not grown in the United States and coca derivatives I
are not imported. All supplies of coca leaves are, therefore, imported |
under official permit, and all supplies of coca derivatives are manu-i
f actured within the United States from the coca leaves thus imported, j
A comparative statement of importations of coca leaves for the!
16-year period from 1925 to 1940, inclusive, will be found in the |
appendix table 10.
The revenue represented by the coca leaves imported during the
calendar year 1940 was $201,882.23, based on an import duty of 10
TRAFFIC IN OPIUM
59
cents per pound and an internal-revenue tax of 1 cent an ounce, or
16 cents a pound upon the same leaves.
IX. Marihuana { C a n n a b i s s a t i v a L., Indian Hemp).
During the year 1940 hemp was grown on about 2,506 acres (1,014
hectares) in the States of Kentucky and Wisconsin for seeds and fiber.
Of this approximately 1,436 acres (581 hectares) were grown in the
State of Wisconsin for fiber, mainly for cordage purposes. The crop
grown in Kentucky was cultivated for both the fiber and seed, approxi
mately 579 acres (235 hectares) being grown for fiber and 490 acres
(198 hectares) for seed. The production of hemp seed amounted to
approximately 359,655 pounds (163,138 kg.).
No one registered during the year to grow the plant for the flowering
or fruiting tops for the production of cannabis for medicinal purposes.
It is not believed that the plant will be cultivated for this purpose in
view of the tax of $1 an ounce which is imposed under the act on the
transfer of the flowering tops, the whole plants, or any extracts or
preparations made therefrom.
Importations of hemp seed during 1940 totaled 1,160,194 pounds
(526,260 kg. 546 gm.) as compared to 1,290,265 pounds (585,253 kg.
728 gm.) during 1939. The importations for 1940 are slightly less
than in 1939 and are far below those formerly made, 62,911,204
pounds (28,536,334 kg. 930 gm.) of seeds having been imported during
1936. The internal-revenue tax of 2 cents per pound, effective
August 21, 1936, on the importation of hemp seed remained in effect
during 1940. The importations of such seed during the years 1930
to 1940 are shown in table 10-A in the appendix.
The system of control of the legitimate manufacture and distribu
tion of cannabis products for industrial and medicinal purposes was
described in the annual report for the calendar year 1938. The num
ber of persons registered in each of the several classes under the Fed
eral marihuana law is set out in the appendix table 11-A.
R esearch W ork
D uring 1940
on
M arihuana (Cannabis sahva), C onducted
B ureau of N arcotics L aboratory
by the
The activities of the Bureau’s technical staff on marihuana research
may be divided into two functions: (1) The continued expansion,
stimulation, and facilitating of a broad national research activity
covering the chemical, pharmacological, psychiatric, and agronomic
aspects of the plant, its preparations and derivatives; (2) an intensive
laboratory attack (coordinated with the national program) upon the
problem of isolating, identifying, and studying of the active principles
contained in marihuana.
In furtherance of the broad program of intensive research the
Bureau of Narcotics technical staff has supervised the extraction of
approximately 12 tons of marihuana for the purpose of providing a
319383— 41------- 5
60
TRAFFIC IN OPIUM
large quantity of uniform resin to be distributed to the several labora- ,
tories participating in this program. The several experimenters, each
in turn employing his own technique, have prepared a number of
significant products. These range from single isolated chemical
compounds to concentrated mixtures characterized by high physiologi
cal activity. These compounds and mixtures have been tested on
dogs, mice, and rabbits, as well as by other procedures.
Definite progress in the unravelling of the marihuana problems
has been recorded during 1940. Of greatest significance are the
following: (1) Dr. Roger Adams, head of the department of chemistry,
University of Illinois, in a series of publications, has announced the
isolation of cannabidiol, a physiologically inactive compound con
vertible to a compound of high physiological activity strikingly
similar to that physiological activity characterizing marihuana.
This latter compound has been designated as tetrahydrocannabinol.
The chemistry of these compounds is being intensively investigated
by Dr. Adams and his staff. (2) Dr. A. J. Haagen-Smit, of the Califor
nia Institute of Technology, has announced the isolation of “ Cannin,”
an extremely potent crystalline substance derived from Cannabis resin.
(3) Dr. S. Loewe, of New York, studying the pharmacology of deriva
tives of marihuana supplied to him by several investigators cooperating
in this national program, has found indications pointing to the conclu
sion that incoordination in dogs, corneal anaesthesia in rabbits, and
sleep in mice, produced by marihuana extracts, result from different
compounds contained therein. (4) Mayor LaGuardia’s committee
on marihuana research, conducting studies on humans at Welfare
Hospital in New York City, and employing not only the original leaf
but also highly concentrated derivatives therefrom, as well as syn
thetic products, is defining the character of the physiological and
psychiatric behavior patterns. (5) Dr. A. H. Blatt, of Queens
College, New York, has reviewed all of the chemical researches
conducted previous to the present investigations and, by critical
examination, brought them into consonance with present studies.
(6) The Mary Shay Memorial Laboratory of Organic Chemistry,
St. Bonaventure College, New York, reports progress in its study of
the behavior characteristics of red oils and yellow oils derived from
Cannabis extracts. (7) The Bureau of Narcotics laboratory staff,
continuing its study of the partition of Cannabis resin by distillation
and chromatographic adsorption techniques, has isolated a sub
stance which apparently is the most active material yet derived from
the plant Cannabis sativa.
The above record of progress in the evaluation of the chemistry
and pharmacology of marihuana, and its derived products, points to
a relatively early solution of some of the major problems anent
thereto.
TRAFFIC IN OPIUM
a-
'h
61
C. M ANUFACTURED D RUGS
X. 1. Internal Control of Manufactured Drugs.12
of
i
The internal control of manufactured drugs is accomplished by: ( 1)
r-_ A control of manufacture exercised through a system of monthly and
’
quarterly returns covering the essential details of all manufacturing
operations, carefully scrutinized in the course of thorough adminis
trative examination and audit, supplemented by official inspections
of the manufacturers’ premises, operations, and records by technically
qualified inspectors who verify such records and returns and inventory
^ each narcotic substance in stock; (2) a control of distribution by
manufacturers and wholesale dealers, exercised through a system of
j
serially numbered official order forms required to be used for all
transactions of purchase, sale, ofTtransfer, and by a system of monthly
returns which report the complete details of every such transaction,
which returns are scrutinized in the course of a thorough adminisr trative examination and audit, supplemented by official inspections
„ of their places of business, operations, and records by technically
^ qualified inspectors who verify their records and returns and inventory
each narcotic substance in stock ; and (3) a control of dispensing
exercised through official inspections of the prescription records of
druggists and the dispensing records required to be maintained by
^ physicians, dentists, and other practitioners and through official
inspections of the premises, operations, and sales records of persons
who manufacture or deal in preparations of low narcotic content sold
1*0 directly
47 to the consumer for medical use.
This system of control is supplemented by a requirement for the
placing of identification numbers on all packages containing 1 ounce
^ or more of morphine or cocaine and the keeping of permanent sales
registers from which the identity of each successive purchaser of a
particular package can be ascertained when the name of the manufacturer and the serial number of the package are known. While this
\
has been required only for the drugs morphine and cocaine, and only
a ' for packages containing 1 ounce or more in quantity, a number of
^ manufacturers actually apply such numbers to each package of their
production regardless of the kind or quantity of drug which it
contains. These identification numbers and the registers in which
’ they are recorded are of value in ascertaining the points at which
,
drugs are diverted from legitimate channels into the illicit traffic.
and coca-leaf derivatives is effected from
Ml g All manufacture
, . of opium
.
imported materials. Limitation of manufacture of the basic opium
and coca-leaf alkaloids commences with a limitation set upon the quan^ tities of raw materials made available to manufacturers. The annual
^ estimates for manufacture are prepared in accordance with article 6,
12See chart opposite p. 8.
62
TRAFFIC IN OPIUM
kport,
section Î, of the Narcotics Limitation Convention of 1931, and only
those quantities of crude opium and of coca leaves which are calcu- ijj re reT
lated on the basis of experienced factory efficiency to be necessary 3be r1
»pel
for the manufacture of the drugs included in such estimates are made
! ticens
available.
The total of these predetermined quantities is allocated to the sev p e l
eral manufacturers in accordance with the ratios of their experienced i the in
requirements and their existing or available stocks. Thereafter, the jimp01
quarterly return of each manufacturer is promptly examined and the I Manu!
I Three
total manufacture to date of each derivative ascertained in order that ;j
the necessary action may be taken in the event that production of any p e a )
derivative in excess of estimates is in prospect. This plan has oper fannia1
I ich. '
ated very effectively in limiting manufacture to actual requirements.
Since neither the importation of manufactured narcotics nor the j p j
return to the United States of narcotics which have been exported is F ]
permitted under the law, there are no quantities to be deducted from 1 1
the manufacturing estimates under provision (i) of article 7 of the
Limitation Convention. The quantities of confiscated drugs utilized The 1
for domestic consumption consist only of small quantities of crude leseti
opium, opium derivatives, and cocaine turned over to other Govern
ment establishments for medical and scientific uses. Diacetylmorphine, or heroin, is not manufactured in the United States.
I
Manufacturers are informed as to the drugs included in the annual
estimates submitted on behalf of the United States in accordance with
the provisions of the Narcotics Limitation Convention of 1931, and .
have been instructed that no other phenanthrene alkaloid or dériva- j |A io
tive of opium or ecgonine alkaloid or derivative of the coca leaf may as au
be produced for the trade unless and until the approval of the proper (aloi
governmental authorities has first been obtained and estimates aulii
therefor have been submitted. Since the convention came into effect, .¡The
the Commissioner of Narcotics has had occasion to consider applica iport
tions for authorizations to manufacture small quantities of dihydro-1
inai
morphine (paramorfan), dihydrocodeine (paracodin), dihydrodesoxymorphine D (desomorphine), dihydrocodeinone (dicodide), eucodal,
eucodin, dinitrophenylmorphine, monoacetylmorphine, methyldihy-j
dromorphinone, and benzoyl-ecgonine, all for scientific or experi- j
mental purposes, but no manufacture of these products for the trade
has yet been authorized.
Those drugs falling in group II of the Narcotics Limitation Con lami
vention of 1931 are subjected to the same rigid control as those in flïcb
group I, no distinction being made between the two groups under P
the laws of the United States. The manufacture of derivatives of >vei
opium and of coca leaves is confined to those establishments .and le fi
premises which are duly registered under the Federal law, and only 1m
such persons or firms as are so registered are permitted to import, uari
TRAFFIC IN OPIUM
iiy
1U -
ry
de
63
export, manufacture, sell, distribute, or transfer such drugs. Records
are required to be maintained continuously and reports or returns
to be rendered monthly and quarterly, covering the details of all
transactions of importation, exportation, manufacture, sale, or transfer.
2. Licenses.
liv
ed
he
he
iat
No change was made during 1940 in the qualifications for engaging
in the international or internal trade in narcotic drugs, and the system
of import permits and export authorizations remains the same.
3. Manufacture.
Three establishments were authorized to import raw opium during
ny the year for the purpose of manufacturing medicinal, powdered, and
erhe
[ is
Dm
granulated opium and for extracting ulkaloids for sale or export as
such. These are as follows:
Merck & Co., Inc., Rahway, N. J.
Mallinckrodt Chemical Works, St. Louis, Mo.
New York Quinine & Chemical Works, Inc., Brooklyn, N. Y.
the
The following opium derivatives were produced during the year by
ned
ide these three establishments, both for domestic use and export:
rnMethylmorphine.
Powdered opium.
orEthylmorphine.
Granulated opium.
ual
ith
md
vaìay
per
ites
3Ct,
LcaLroxyial,
hyeriade
!on3 in
Lder
3 of
and
>nly
>ort,
Papaverine.
Morphine.
Narcotine.
Dihydromorphinone.
Narceine.
Dicodide
Apomorphine.
Thebaine.
A fourth establishment, Hoffmann-La Roche, Inc., Nutley, N. J.,
was authorized to import raw opium for the purpose of extracting the
alkaloids therefrom, not for sale as such but for use exclusively in the
manufacture of its specialty, pantopon.
The following four additional establishments were authorized to
import comparatively small quantities of raw opium for the purpose
of manufacturing medicinal opium, tinctures, and extracts:
Parke, Davis & Co., Detroit, Mich.
Eli Lilly & Co., Indianapolis, Ind.
Sharp & Dohme, Inc., Philadelphia, Pa.
E. R. Squibb & Sons, Brooklyn, N. Y.
These establishments do not extract alkaloids. They do, however,
manufacture tablets and pharmaceutical preparations from alkaloids
purchased by them from alkaloid-extracting manufacturers.
Alkaloid-extracting manufacturers render returns each quarter to
cover the details of their manufacture. These quarterly returns cover
the full details of the crude materials on hand and substances in process
of manufacture or conversion at the beginning and end of each
quarter; the importations, quantities used in manufacture and con-
64
TRAFFIC IN OPIUM
latienfi
version, and manufacture therefrom. In addition to the quarterly
returns, each, manufacturer is required to submit monthly returns jelaa
covering the full details of each receipt or disposition, including the if prep«
date, the serial number of the official order form pursuant to which the Iff Dar'
i class
transaction was made, the name, address, district, and registry number
arcotic
of both the consignor and consignee, and the name and quantity of the
jred ii
drug involved.
i class
These returns are carefully examined and audited in the Federal
Bureau of Narcotics to determine whether proper yields from the raw Ikefigi
materials are obtained, whether all transactions of purchase, sale, or listen
manufacture have been properly accounted for, and whether the stocks | [Statis
of raw materials, materials in process, and finished drugs in the pos- I iffs, tb
session of each factory are properly and fully reported. In addition ¡mg of
to this audit special representatives of the Bureau make periodic j j rude d
inspection of factory premises, study their operations, examine factory j j [on of
records, inventory all stocks, and verify the reports of substances on pantit
ie sali
hand.
icture
The establishments specified below were authorized to import coca
rugs t
leaves for the purpose of producing cocaine:
ill be
Merck & Co., Inc., Rahway, N. J.
Maywood Chemical Works, Maywood, N. J.
The Maywood Chemical Works, in addition to importing coca
Dur
leaves for the manufacture of cocaine, was also authorized to import a
fthoi
further supply of coca leaves for the purpose of manufacturing there
from a nonnarcotic flavoring extract, as authorized by law. All j roup
cocaine, ecgonine, and salts, derivatives, and preparations from which wrph
cocaine or ecgonine might be made, which were contained in such i the
additional supplies of coca leaves, were destroyed under the super-! )nsui
vision of a personal representative of the Commissioner of Narcotics.
4. Trade and Distribution.
LChi
The extent of the manufacture, sale, and distribution of narcotic
drugs and preparations in the legitimate trade may be gaged somewhat The
by the number of persons registered in the various classes under the fera
law, these several classes having been previously described. On onvi
June 30, 1940, there were 168 persons or firms registered in class 1 as HP
importers, manufacturers, producers, and compounders, which figure Th
includes the factories authorized to import crude opium and coca ie!
leaves for the purpose of manufacturing medicinal opium and extract reps
ing morphine and cocaine. There were 1,314 persons or firms regis ubst
tered in class 2 as wholesale dealers in taxable narcotic drugs on June xpo:
30, 1940. The remaining 4 classes of registered persons included l i t
retail dealers (druggists), registered in class 3, physicians, dentists, bel
veterinarians, and other practitioners lawfully entitled to distribute, inui
dispense, give away, or administer narcotic drugs and preparations to moi
TRAFFIC IN OPIUM
65
■ly patients upon whom they in the course of their professional practice
are in attendance, registered in class 4 ; manufacturers and distributors
of preparations and remedies not subject to commodity tax because of
low narcotic content, registered in class 5; and persons not registered
in class 1, but lawfully entitled to obtain and use in a laboratory
narcotics for the purpose of research, instruction, or analysis, regis
tered in class 6. On June 30, 1940, there were 51,528 registrants
ral in class 3, 158,986 in class 4, 145,043 in class 5, and 105 in class 6.
iw The figure for those registered in class 5 includes persons or firms also
or registered in one or more of the other classes.
Statistical tables showing registrations under the Federal narcotic
:ks
laws, the quantities of crude opium and coca leaves held at the begin
3S on ning of the year by the importing manufacturers, the quantities of
lie crude drugs imported during the year, the quantities used for extrac
►ry tion of alkaloids and manufacture of tinctures and extracts, the
on quantities of alkaloids produced for conversion into other drugs,
the sales of such manufactured drugs, the stocks of crude and manu
>ca factured drugs on hand at the end of the year, the exportation of
drugs during the year, and shipments of drugs to insular possessions,
will be found in the appendix, tables 9 to 19, inclusive.
ns
he
he
>er
he
C o n s u m p t io n
>ca
ta
reAI1
ich
ich
er-
During the year there was a slight decline in the licit consumption
of those drugs included in the Geneva Drug Convention of 1925 or in
group I of the Narcotics Limitation Convention of 1931: opium,
morphine, dilaudid, heroin and pantopon, while there was an increase
in the consumption of codeine. A statement of the principal drugs
consumed during the year will be found in table 15 in the appendix.
D . O T H E R Q U E S T IO N S
)tic
bat
the
On
as
ure
oca
ict?isane
led
sts,
ite,
3 to
XI. Chapter IV of The Hague Opium Convention of 1912.
The Government has no additional information to submit with
reference to the execution of the provisions of chapter IV of The Hague
Convention.
XII. Prepared Opium.
There is at present no lawful manufacture of prepared opium in
the United States. The importation of prepared opium, or of opium
prepared for smoking, into the United States, the admission of the
substance for transfer or transshipment to another country, and the
exportation thereof to another country are absolutely prohibited.
It is believed that there is comparatively little opium smoking in
the United States among the native population, although there con
tinues to be a certain indulgence in the habit, more particularly
among the alien population, especially the Chinese. There were
TRAFFIC IN OPIUM
66
reported during the year 5 cases of violations of the law governing
the manufacture of smoking opium, as compared with 3 in 1939.
These do not include the offenses of possession or sale. Sixteen such
cases were pending on January 1, 1940. Of these 21 cases, prose
cution was instituted in 2, with 2 convictions, and 3 cases were
dropped, leaving 16 such cases pending at the close of the year.
An aggregate sentence of 3 years and a fine of $1 were imposed upon
the persons convicted. These figures have been included in the
statistical table of enforcement activity of Federal narcotic officers
under the Federal internal-revenue narcotic laws.
A total of 1,024 ounces 164 grains (29 kg. and 41 gm.) of smoking
opium was seized and confiscated during the calendar year 1940.
Practically all of the prepared opium seized came from the Far East
in the manner hereinbefore described in the discussion of seizures.
XIII. Other Drugs.
See X. 1. Internal Control of Manufactured Drugs, p. 61.
APPENDIX
T a b le 1.— Number of violations of the Narcotic Drugs Import and Export Act and
customs laws reported during the calendar year 1940 and their disposition, and
the penalties
Violations reported-------------------------------------------------------------------637
Dèfendants presented for prosecution------------------------------------------166
Defendants convicted-------------------------- ----------------- •-------------------85
Defendants acquitted----------------------1----------------------------------------19
Penalties:
Aggregate sentences imposed__________________115 years 8 months 8 days
Total amount of fines imposed------- ------------------------------------- $4, 576. 62
Number of vessles upon or in connection with which narcotic drugs
were seized on account of failure to manifest----------------------------69
Amount of penalties assessed against such vessels 1— .......................... $48, 889. 64
Amount of penalties collected----- ------------------------------------------------ 13, 002. 18
i
A statute places a liability upon the master or owner of a vessel in the amount of $25 per ounce for each
ounce of smoking opium discovered on board the vessel which has not been manifested. This penalty
automatically attaches, except that the master or owner of a vessel used as a common carrier shall not be
liable to the penalty if it appears that neither the master nor any of the officers nor the owner knew, and could
not by the exercise of the highest degree of care and diligence, have known th at smoking opium was on
board. A penalty is also imposed upon the master or owner of a vessel arriving at a port of the United States
with respect to any narcotics, other than smoking opium, found on board the vessel without being included
or described in the vessel’s manifest, said penalty being $50 for each ounce of heroin, morphine, or cocaine,
and $10 for each ounce of crude opium.
A further provision of the customs laws gives to the owner or master of the vessel the right to file with the
Secretary of the Treasury a petition setting forth any facts which in the judgment of the latter official should
warrant relief being granted from the assessment of the full penalty. The purpose of this provision is to
grant to a master or owner equitable relief when it is clearly shown that they have exercised every precau
tion to prevent the bringing aboard of smoking opium or other narcotics intended for illegal introduction
into the United States. Hence, the penalties finally collected are but a part of the penalties originally
assessed, due to the showing made by and on behalf of the masters and owners of preventive measures taken
by them.
N o t e .— It is not possible to show the occupations of the persons prosecuted as shown in the above table,
but it is believed that they have no known lawful occupation or profession, with the exception of those few
persons who were employed as members of crews of vessels plying between this country and foreign ports.
T able 1-A . — Number of violations of Federal internal revenue narcotic laws reported
during the calendar year 1940, with their disposition, and the penalties
Item
Persons reported for criminal violations:
Federal cases _
_ _________________________
Joint cases _
______________________ - ___________
Persons tried in courts:
Federal eases in Federal courts__
________________
Federal eases in State courts____ _ _________________
Joint cases in Federal courts____________________ : ____
Joint cases in States courts__________________________
Persons convicted:1
Federal eases in Federal courts_______________________
Federal cases in State courts_________________________
Joint cases in Federal courts_________________________
Joint cases in State courts___________________________
Persons acquitted:
Federal cases in Federal courts_______________________
Federal cases in State courts_________________________
Joint cases in Federal courts_________________________
Joint cases in State courts___________________________
Penalties:
Aggregate sentences imposed, in years: *
Federal cases in Federal courts___________________
Federal cases in State courts_____________________
Joint cases in Federal courts______________________
Joint cases in State courts........................................... .
Registered
Unregistered
Total
655
42
1,881
431
2,536
473
139
2
17
5
1,355
188
273
155
1,494
190
290
160
132
2
16
5
1,335
180
266
148
1,467
182
282
153
7
1
20
8
7
7
27
8
8
7
239
1
21
2,893
136
500
113
3,132
137
521
113
67
TRAFFIC IN OPIUM
68
T a b l e 1-A.— Number of violations of Federal internal revenue narcotic laws reported
during the calendar year 1940, with\their disposition, and the penalties—Continued
Item
Penalties—Continued.
Total amount of fines imposed:
Federal cases in Federal courts____________________
Federal cases in State courts------- ------------------------Joint cases in Federal courts----------------------------- —
Joint cases in State courts---------- ------- -----------------Number of cases compromised:3
Registered
$36,402.19
200.00
1, 575.00
925.00
Unregistered
$54,243.00
1.443.02
8.087.02
2,212.00
Total
$90,645.19
1.643.02
9.662.02
3.137.00
156
15
156
15
Total amount accepted in eases compromised:
$18,247.00
$18,247.00
2.265.00
2, 265.00
Joint cases,________________ _______ ____ ______—
1 These figures include 15 persons who were placed on indefinite probations and 8 persons whose sentences
were indefinitely suspended.
.
,«
2 These figures include definite probationary sentences aggregating 551 years and sentences aggregating
41 years which were suspended. Sentences aggregating 2,939 years running concurrently with those in
cluded in these figures were imposed in addition thereto.
.
s In addition to the 171 cases in which compromises were accepted, 9 cases involving tax liability were
closed on payment of taxes and penalties amounting to $90.47.
N o t e s .— This table also includes 2 convictions in the Federal courts of violations of the laws governing
the manufacture of smoking opium, the convicted persons receiving aggregate sentences of 2 years 6 months
1 day and an aggregate fine of $1.
„
. ,
,
Cases described as Federal are those made by Federal officers working independently, while those de
scribed as joint are those made by Federal and State officers working in cooperation with each other. The
column headed Registered (registered under the Harrison Narcotic Law, as amended) represents practi
tioners of the healing arts and druggists who were prosecuted for narcotic-law violations, while the column
headed Unregistered represents persons whose occupations or professions cannot be determined, b ut who
were in the main underworld characters.
T a b le 1 -B . — Number of violations of the Federal Marihuana law reported during
the calendar year 1940, with their dispositions and the penalties
Item
Persons reported for criminal violations:
Fed eral eases
__________________________
______________________________
Joint eases
Persons tried in courts:
Federal cases in Federal emirts
_ ______________
Federal cases in State courts _
__________________
Joint cases in Federal eoiirts _ ____________________
Joint cases in State courts
Persons convicted:1
Federal cases in Federal courts
Federal cases in State courts _____________________
Joint oases in Federal courts
_-_______________
Joint cases in State courts
Persons acquitted :
Fori oral oases in Federal courts
_______________
Federal cases in State courts
Joint oases in Federal courts
_____________________
Joint oases in State courts
____ _ _______________
Penalties:
Aggregate sentences imposed, in years:8
Federal cases in Federal courts
__________ ____
Federal cases in State courts
________ ________
Joint cases in Federal courts - _____ _____________
Joint cases in State courts __ __________________
Total amount of fines imposed:
Federal oases in Federal courts _ _ ________________
Federal cases in State courts __ __________________
Joint cases in Federal courts____ _________________
Joint oases in State courts
___
Number of cases compromised:
Federal cases
________ _________
Joint cases
Total amount accepted in cases compromised:
Federal cases
_______________________
Joint cases
_ __________
Registered
Unregistered
Total
563
387
563
387
401
30
284
30
401
30
284
30
390
30
275
27
390
30
275
27
11
11
9
3
9
3
524
44
370
24
524
44
370
24
$2,406.00
37.50
1,877.00
$2,406.00
37.50
1,877.00
1
1
16.00
16.00
1 These figures include 9 persons who were placed on indefinite probations.
3
These figures include definite probationary sentences aggregating 86 years and sentences aggregating 23
years which were suspended. Sentences aggregating 348 years running concurrently w ith those included
in these figures were imposed in addition thereto.
Cases described as Federal are those made by Federal officers working independently, while those de
scribed as joint are those made by Federal and State officers working in cooperation w ith each other. The
column headed Registered (registered under the M arihuana Tax Act of 1937) represents practitioners of the
healing arts and druggists who were reported for m arihuana law violations, while the column headed U n
registered represents persons whose occupations or professions cannot be determined, b ut who were in the
main underworld characters.
Pi co
o
o
O Oí o
o o o
CO Oí
o^^
to -<l rfk. to
to ^
S\g
cooo coo
©**•©►-*
coco
Oí œ
«>
aa,
o to to to
T able 1 -C . — Comparative statement of quantity of drugs seized,1violations, convictions, sentences, and fines under Federal narcotic laws, calendar
years 1931 to 1940, inclusive
1932
1933
1934
1935
1936
1937
1938
1939
1940
Kilograms
Drugs seized or purchased:
At ports and b o r d e r s . --------- ---------------- ------ 1,4Ô3.498
Internal traffic........ . .. ---------------- ------------- 1,124.596
Kilograms
284.799
223.394
Kilograms
487. 526
113.086
Kilograms
353.036
86. 579
Kilograms
306.345
205.647
Kilograms
377.913
63.371
Kilograms
437.889
133.949
Kilograms
651.874
130.164
Kilograms
252.185
100.483
Kilograms
64.827
66.374
Item
1931
2, 528.094
508.193
600.612
439.615
511.992
441.284
571.838
782.038
352.668
131.201
575
4,460
902
4,267
863
3,529
1,872
3,826
2,268
3,727
2,063
3,468
2 603
3,468
588
3,195
567
3,733
697
2,312
Total____________________________________
5,035
5,169
4,392
5,698
5,995
5,531
4,071
3,783
4,300
3,009
133
2,995
103
2,785
137
2,453
203
2,471
191
2,927
155
2,725
119
2,458
95
2,436
107
2,590
155
1,929
3,128
2,888
2,590
2,674
3,118
2,880
2,577
2.531
2,697
2,084
6,591
$149,194
100
8,669
$200.904
104
7,285
$155,165
97
9,999
$224,754
171
9,869
$218, 572
155
9,508
$163,426
200
6,842
$105,087
191
Convictions (number): ¡È
Of registered persons___________ ___________
Of unregistered persons..... .....................................
Total________ _______ ____ _____ ______
Sentences imposed (years), including concurrent
sentences____________ __________________ ____
Fines imposed (amount in dollars)________________
Automobiles seized (number)____________________
9,867
$163, 514
146
6,740
$115,148
130
5,680
$136, 274
121
i Seizures are stated in terms of the actual quantities of all drugs in the forms in which seized.
J The decrease during 1937, 1938, 1939, and 1940, in the number of cases reported pertaining to registered persons is largely due to the fact th at the Bureau no longer includes as
cases reports showing merely technical or minor violations of the regulations.
TRAFFIC IN OPIUM
Total------ -----------------------------------------------Violations reported (number) :
By registered persons__________ _____ ________
Bv unregistered persons____________ ____ _____
05
©
TRAFFIC IN OPIUM
70
T able 2 — Results of enforcement activity by State and municipal enforcement
396
California...............
34
Connecticut.___-3
Delaware_______ :
District of Colum bia..
6
Florida....................
365
Illinois.....................
522
Indiana...................
Iowa....-.................
187
Massachusetts----6
Michigan.............. .
12
New Jersey............
2,082
New Y ork__ ____
a 10
Ohio_______ _____
Oregon........ ...........
« 150
Pennsylvania.........
28
Rhode Island____
3
Texas......................
6
U tah .......................
W ashington...........
1
1
1
1
m34 1
1
1
3
1
6
365
36
81
g
187
n
1
1
19
2
1
6
6
1,630
10
1
150
1
76
29
1
2
52
4
3
1
2
1
111
17
132
4
6
1
10
6
6
2
6
8
4
15
$100
2
3
3,957
300
285
6
9,035
100
2
2
6
jm
IM
/lsM
lIlß1
Total fines im.
posed
Days
(0
M onths
(l)
A g g reg ate s e n
tences imposed
Years
m
1
C ases p en d in g ,
Dec. 31,1940
(0
Cased dropped
ö
Persons becom
ing fugitives
S
Persons deceased
al
wo
State
Persons ac
quitted
officers under the State narcotic drug laws, in the calendar year 1940
jp*
24
1
600
9
ghtofthe
rencetoc
¡bemical
lugthee
poidsof1
ratages(
jle3-
»flderii
fe e s t
p
2 Com iertiS^Stede1D epartm ent oUHealth reported 27 committed to State institutions for treatm ent,
a Ohio State Board of Pharm acy reported 2,277 investigations made.
< Pennsylvania State Departm ent of Health reported 2,122 investigations made.
T a ble 3.— Gross weight and calculated anhydrous alkaloid content of the various
narcotic drugs seized at ports8 32and borders under the Narcotic Drugs Import and
Export Act during the calendar 3year 1940
1
6
258
28
1
Kind of drug and form in which seized176
5
3
1,602
8
.1
98
Opium, smoking--------------------------------—
4
3
Morphinp. salts _______________________5
Heroin gaits _ __________ __________ ____
P.fiHoiTui salts
Dionin sdlts
_______________
OJooavnfi sftlts
1
Gross weight in form
seized
Kilograms
32
15
7
7
Conversion
factor used
Kilograms
Grams
964
540
27
175
448
537
150
5
556
425
Ö. 753175
.8714
. 772259
.8120
. 902197
adofdr
Finwhir
N et weight in terms
of anhydrous alka
loid
5
6
Grams
610
468
116
4
817
N ote.—T he first column represents the kind of drug seized; the second column represents the gross weight j
of the drug in the form in which seized; the third column shows the conversion factor used with^ reference
to morphine, heroin, codeine, dionin, and cocaine salts; while the last column represents the net weight, with
respect to morphine, heroin, codeine, dionin, and cocaine salts, of the anhydrous alkaloidal content for each
kind of drug, based on a calculation which ignores any adulteration, no quantitative chemical analyses hav
ing been made to determine the adulteration present in any given seizure.
( dm:
Crade.
Smotta
Medici)
Tinctui
tracts
I pitae.
I tin....
< tine...
i ita....
( line...
1 iejfcet
Total
71
TRAFFIC IN OPIUM
ent
■g>o
o
Pi
T
3 - A . —Gross weight and calculated anhydrous alkaloid content of the various
narcotic drugs seized in the continental United States under the Federal internal
revenue narcotic laws during the calendar year 1940
able
Kind of drug and form in which
seized
Gross weight in form
seized
Kilograms
$100
,'957
3286ÖÖ
,035
100
600
O p iu m ftnidp!
O n i^ m sm o k in g
O p in m , m ed icin al
O p iu m in tin c tu re s a n d e x tra c ts .
4 ■
13
Morphine salts__ _ __________
4
42
TTeroin salts _
C odeine salts
"Dionin salts
C ocaine salts
M iscellaneous d ru g s
___________
Grams
691
501
372
610
760
18
290
5
115
12
Percent
Conver
age of
sion factor anhydrous
used
alkaloid
Net weight in terms
of anhydrous alka
loid
Kilograms
Grams
486
210
224
2
1
52.22
2.88
0.772259
87.62
101
N o t e —T he first column represents the kind of drug seized; the second column represents the gross
weight of the drug in the form in which seized; the third column shows the conversion factor used with
reference to codeine salts; the fourth column represents the average percentage of anhydrous alkaloid based
on chemical analyses of 228 samples of morphine, 1,836 samples of heroin, and 9 samples of cocaine made
during the calendar year 1940, while the last column represents the actual net weight of the anhydrous
alkaloids of morphine, heroin, codeine, and cocaine, taking into account the conversion factors and the
percentages of purity shown in the third and fourth columns, respectively.
T able 3 -B . — Comparison of quantities of narcotic drugs seized at ports and borders,
under the Narcotic Drugs Import and Export Act, and in the continental United
States under the Federal internal revenue narcotic laws, calendar years 1939 and
1940
[Gross weight of drug in form seized]
OUS
Increase
and
Kind of drug and form
in which seized
arms
ilk a-
ms
Opium:
Crude
S m oking
M ed ic in al
Tinctures and extracts
610
468
116
4
817
M o rp h in e
TTeroin
C odeine
D io n in
C ocaine
Miscellaneous drugs__
T otal---
eight
rence
with
each
hav-
Decrease
Quantity
Quantity
PerPercent
centage
Kilo Grams age
Kilo Grams Kilo Grams Kilo Grams
grams
grams
grams
grams
140
116
4
86
2
352
909
610
151
634'"
684
390
667
169
108
346
668
37
29
12
42
7
131
655
41
399
785
208
555
440
10
671
437
201
248
164.24
7
151
524
23.82
160.63
7
563
7,002. 76
103
87
254
569
73.28
75.10
43
835
227
159
50.74
34.03
94.08
1
909
81.37
221
467
62.80
TRAFFIC IN OPIUM
72
T a b l e 3—C.— Number of seizures and quantity of Cannabis {marihuana) seized
during the calendar year 1940 by Federal enforcement officers
N um
Cigaber of
rettes
seiz (number)
ures
B y narcotic officers—State:
Alabama
Arizona
Arkansas
_ _____
California
_
Colorado
District of Columbia
Florida
_ . _ _____
Georgia
Hawaii__
Idaho . ^
. _________ _
Illinois
Indiana
3 _ ___
Iowa
Kansas
- __ ____
Kentucky _
___ __
Louisiana
_ _ ____________
M aryland
_ . ____
M assachusetts
_________
Michigan
M innesota
________
Missouri
.
_ _ ________
M ontana
Nebraska
_______
Nevada
N ew Jersey
N ew Mexico
__ ___ __________
N ew Y o r k .. __________________
Ohio
________
O klahom a____ _ ____________
Pennsylvania___________ ______
South Carolina . . .
. _________
Tennessee.’— . _______________
Texas_________________________
U tah__________________________
Virginia_______ _______ _______
W ashington___________________
W est Virginia..
Wisconsin_____________________
W yoming_______ _____________
T o ta l.____ _____________ ____
B y customs officers—Port:
Boston, M ass__________________
N ew York, N . Y _______________
New-Orleans, La_______________
Galveston, Tex . .
__ _______
Laredo, T ex_______ __________
E l Paso, Tex___________________
San Diego, Calif_______________
Nogales, Ariz____ ____________
Los Angeles, Calif______________
Honolulu, T . H ____________ ___
San Juan, P . R . . _________ . .
3
25
8
144
43
15
13
1
3
10
19
10
10
77
21
194
58
21
65
16
36
11
13
1
16
2
146
58
23
59
5
410
11
4
12
1
1
1
1,573
1
74
4
1
11
37
8
13
8
2
1
1
230
3
889
273
131
147)4
8
3
297
252
38
169
137)4
4,726
276
94
665
17
136
.31
4
6
275
5,103
858)4
90)4
453
32
17)4
'3,065)4
25
20
104
Bulk marihuana
Kilo
grams
Grams
i
288
3
3
2
23
10
8
20
2
3
2
1
4
37
11
5
2
2
53
1
Growing
plants
Grams (number)
Kilo
grams
6
98
75
230
28
213
91
13
67
3
35
8
569
791
56
398
107
836
694
558
873
9
426
37
514
26
11
57
746
658
435
8
87
13
495
976
75)4
18
170
4
229
297)4
478
2
1
71
4
3
792
872
347
428
219
380
668
142
8
3
18
43
319
2
824
499
978
887
186
3
18,578
Marihuana seeds
63
i
317
1
1
79
15
120
5
2
i
803
359
454
1
36
70
926
28
T otal____ ___________________
160
1,284
100
856
37
451
Grand total_______________ . .
1,733
19,862
596
832
39
254
359
73
TRAFFIC IN OPIUM
T able 3-D .—Summary of marihuana eradication program, by states, calendar
year 1940
D e
stroyed
Located
but not
reported
destroyed
D e
stroyed
Total
Located
but not
reported
destroyed
Total
State
State
E sti
mated
area
(hectares)
E sti
E sti
mated
mated
area
area
(hectares) (hectares)
0.004
0.004
California - ___
.101
. 101
Georgia..*______
162.247
191.358
353.605
Illinois
4.249
4.249
Indiana_________
Iowa ________ 3,764.468 11,284.904 15,049.372
3j 692.983
Kansas__ _______ 692.983
.027
.027
Massachusetts___
Michigan _
1.510
1. 510
.202
.202
Missouri .
Minnesota
4.845
4.845
9 09-3
2 0?3
15.000
15; 000
N ew Jersey______
Esti
Esti
Esti
mated
mated
mated
area
area
area
(hectares) (hectares) (hectares)
N ew York North Dakota___
Ohio.
_
___
Oklahoma_______
Oregon.
- ___
Pennsylvania.. . . .
South Dakota___
Texas___________
W ashington_____
W isconsin_______
34.025
.445
2.529
.002
.008
29.111
4.047
.017
.005
56.050
34.025
.445
2.529
.002
.008
29. I ll
4.047
.017
.005
63.092
7.042
T otal______ 7,773.871 11,483.331 19,257.202
T able 4.—Number of seizures and quantity of Cannabis (marihuana) seized during
the calendar year 1940 by State and municipal enforcement officers
Kilograms
California__________ *________________ Connecticut______________ - _________
Florida
_ _ ____ ____________________
I llin o is ________ _
___________________
Indiana_______________ _______________
Kansas
M assachuse t ts _________________________
Michigan
___ _____________ _
N ew J e r se y ._________________________ N ew Y ork.. ._ ___________ _ _________
Ohio *
. -- _______________
Pennsylvania______ ____________ ______
Rhode Island
HTexas
_
___________
Utah
_ _ _____________
Total_________________ _________
101
2
9
54
86
1
2
2
30
76
1
49
16
3
1
433
Growing
plants
Bulk marihuana
Number of Cigarettes
(number)
State
Grams
Number
1,204
89
247
317
66
272
662
12
140
20
613
227
5,000
36,654
5
10
256
6,231
1
445
1
35,833
17,603
35,051
361
758
1
879
71,129
106
750,000
76,000
16
1
9,168
885,575
T able 4 -A . —-Quantities of narcotic drugs seized as reported by State officials,
calendar year 1940
[Gross weight in form in which seized]
California
Georgia
N ew York
Pennsyl
vania
Grams
Grams
Grams
Grams
Kind of drug
Opium, sm oking.. _________ _____________________
Opium in tinctures and extracts
.
_ __
M orp hine________________________________________
Heroin
_____________________________________
Cncaine
- - _______
760
884
63
680
786
567
2,211
92
7,811
4
340
1
133
TRAFFIC IN OPIUM
T a b le 5.— Percentage of all persons arrested in the United States during the calendar
year 1940 having previous fingerprint records
Percent
Offense
Vft^TflriP.y
________ ________
Violations of narcotic drug laws— ..........
Robbery
___________________
Pmrlr^TiTiftps
_____- ______ _____
Forgery and counterfeiting---------------—Prostitution and commercialized vice—
Embezzlement and fraud---------- ---------Suspicion
_______ ________
Burglary—breaking or entering------------Auto theft
- ___
A ll other offenses
_______ _________
Disorderly conduct _______. . . . . . . . . . . .
Larceny—theft
_____- - - - - - - - - - - - - - - Jyjrp-]of ]fl,ws
____
65.7
63.8
59.0
57.5
56.8
54.1
52.7
50.2
49.2
48.1
48.1
46.8
46.5
45.7
Offense
Percent
Offenses against fam ily and children----Weapons; carrying, possessing, etc--------Stolen property; buying, receiving, e tc ..
Violations of other traffic and motor
vehicle laws__ ____ — -------------------Rape______ --------------------------------------G a m b lin g ............. g a & J j.........a------ —
Other sex offenses_____________________
D riving while intoxicated— ............ *----Parking violations1__________________ _
Arson...........................................................—
Violations of road and driving law s..........
Criminal homicide____________________
43.4
39.6
39.6
38.2
38.0
36.5
36.0
35.4
34.7
32.7
31.6
31.6
30.9
i Only 49 fingerprint cards were received representing arrests for violation of parking regulations.
T a b l e 5-A.—Comparison of narcotic and marihuana law violators with total
Federal prisoners, on June SO, 1940
1. Male prisoners convicted of Federal offenses and confined on June 30,
1940:
For all offenses______________________ ___________________ 20, 273
For narcotic drug law violations------------------ -------------------- -- 1> 550
For marihuana law violations----------------------- --------------------444
2. Female prisoners convicted of Federal offenses and confined on June 30,
1940:
For all offenses--------------- ---------------- - - --------------------------^28
For narcotic drug law violations--------- ------------------------------385
15
For marihuana law violations.----------------------------- -------------3. Male prisoner patients confined in United States Public Health Serv
ice Hospitals at Lexington, Ky., and Fort Worth, Tex., on June 30,
1940:1
For narcotic drug law violations----------------------------------------■- L 162
For marihuana law violations--------------------- - - ’-------------------109
l These figures are not included under item 1 above. In addition to the prisoners shown, there were 114
probationers at the Fort Worth and Lexington hospitals on June 30,1940, under treatment for narcotic drug
addiction, many of whom had been convicted of drug-law violations.
narcotic i r r e g u l a r i t i e s , a n d d i s p o s i t i o n o f c a s e s b y
74
s
ET. S
S3
T a b l e 6 .—
^ seESÉg.sssî.æ æ ss
fs & i
I
•s ¡ i l
Number of persons, by class authorized to obtain narcotic drugs legally, reported for narcotic irregularities, and disposition of cases by
State licensing boards— Physicians
CO
Reported for narcotic irregularities
1
1
3
1
6
6
2
1
2
1
2
6
1
2
1
5
5
2
4
1
1
2
1
3
1
4
«2
2
4
1
6
3
2
2
1
1
1
1
1
2
1
6
7
1
3
2
1
2
3
1
1
1
2
1
1
1
2
2
1
2
1
2
1
1
1
1
10
4
4
2
2
2
15
1
2
1
1
2
1
i
1
1
1
3
8
5
1
1
5
2
1
1
4
15
21
1
1
See fo o tn o te s a t end o f ta b le.
1
1
«1
1
3
1
1
4
4
1
7
1
1
4
3
1
2
1
2
2
7
5
2
1
1
2
For addiction
1
3
1
For conviction or ad
diction in other
States
N o t convicted or ad
dicted 1
For conviction
For addiction
For conviction or ad
diction in other
States
Pending action on
Dec. 31,1940
1
1
1
D e
ceased
2
2
1
2
2
1
1
1
2
1
4
1
5
1
Dismissed w ith
out disciplinary
action
For addiction
Adm oni
tions
For conviction
For conviction
For addiction
Proba
tions
1
For addiction
For conviction
For addiction
For conviction
For addiction
1
4
2
2
1
5
3
1
For conviction or ad
diction in other
States
For conviction
For addiction
1
5
2
4
Probations
w ithout nar
cotic privi
leges
J For addiction
1
For conviction or ad- 1
diction in other
|
States
| For addiction
1
Licenses
sus
pended
For conviction
Alabama 2________
4
Arizona......._.............
1
Arkansas______ __
California 3_____
Colorado_____ . .. __
District of C olum bia..
4
Florida_____________
11
Georgia _. __________
Illinois__ ____________ . 11
2
Indiana. ______________
Iow a___________________
1
Kansas___ ________
K en tu ck y 5 ...... ..........
4
Louisiana_____________
3
M a r y l a n d . ________
1
M assachusetts___________
M ichigan..______________ 2
Minnesota ____ ____ ___
M ississippi___________ _
2
1
M issouri_____________ _
M ontana..........................
4
Nebraska_______________
N evada_______ _____ ____
3
N ew Jersey_______ ____ _
1
N ew M exico. _________
N ew York..............................
North Carolina________ _ 30
North Dakota_______ '___
Ohio 2_________ _______ _
1
Licenses re
voked
1
1
4
1
1
9
3
3
1
2
6
1
1
10
1
3
2
1
1
3
1
1
3
1
2
1
30
1
3
15
22
1
4
TRAFFIC IN OPIUM
For conviction
State
Reported dur
ing 1940
For conviction
CO
For conviction or ad- !
diction in other
States
N ot convicted'or ad- I
d ieted 1
Pending action on
Dec. 31,1939
For conviction
Action taken
0
0
CO
For conviction or ad
diction in other
States
CD
CO
2
•<!
Oi
of persons, by class authorized to obtain narcotic drugs legally, reported for narcotic irregularities, and disposition of cases by
State licensing boards—Physicians—Continued
Total.
2
1
8
8
1
1
1
1
5
3
1
2
2
12
T
2
1
2
4
2
1
1
2
2
1
3
2 io 82
78
8
4
2
2
«5
1
1
1
1
1
1
H
1
1
1
10
15
2
5
1
1 These physicians, while not convicted and apparently not addicted to narcotic drugs,
were reported because of evidence of narcotic irregularities.
. .
8 In addition to these reported cases, the bciard restored the license of 1 physician but
placed him on probation without narcotic privileges.
.
#. .
,
i in addition to these reported casés, the State authorities, as the result of independent
investigation, instituted action before the board against 5 physicians on account of narcotic
irregularities. T he board placed these physicians on probation for 5 years w ithout
narcotic privileges.
,
...
. . . ,.
4 1 of these physicians was reported to the board during 1940, while an addiction case
included in this*chart under the Heading “ Pending action on Dec. 31, 1939,” was still
pending before the board.
. . . .
.„ , . .
, .
« In addition to these reported cases, the board restored the licenses of 2 physicians but
placed them on probation without narcotic privileges.
5
9
14
1
12
10
1
3
2
1
1
3
1
1
1
1
1
1
1
3
1
4
30
27
4
For conviction or ad
diction in other
¡ 1 States
I N ot convicted or ad
dicted
2
For addiction
For conviction or ad
diction in other
States
For addiction
For conviction
For addiction
For conviction
For addiction
Pending actior on
Dec. 31,194
2
2
6
1
1
—
21
D e
ceased
1
1
146 124
For conviction
For addiction
[ For conviction
For addiction
For conviction
For conviction or ad
diction in other
States
For,conviction
For addiction
For addiction
For conviction or ad
diction in other
States
2
1
3
2
2
Dismissed without discipl inary
actioi
For addiction
____
For conviction
For conviction or ad
diction in other
States
N ot convicted or ad
dicted
__
Admoni
tions
Proba
tions.
For conviction
3
1
3
28
17
4
9
2
6
Probations
without nar
cotic privi
leges
Licenses
sus
pended
Licenses re
voked
For conviction
1
Reported dur
ing 1940
05
9
8
5
8
21
19
2
2
1
6 166 138
23
2
8 T his physician was reported to the board during 1940, w hile an addiction case»
included in this chart under the heading “ Pending action on D ec. 31,1939,” was still
pending before the board.
H H
|H H j
7 In addition to these reported cases, the board, as the result of independent investiga
tion; revoked the license of 1 physician on account of his conviction under the Federal
narcotic law in another State.
8 In addition to these reported cases, the board, as the result of independent investiga
tion, revoked the license of 1 physician on account of narcotic irregularities.
« T his action was taken b y the division of narcotic drug control of the State department
of health.
a
.
M M
....
i« This total (82) includes 2 physicians reported to State licensing boards during 1940,
while an addiction case w ith respect to each, included in the chart under the heading
“ Pending action on D ec. 31, 1939,” was still pending before the boards. (See footnotes
TRAFFIC IN OPIUM
Oklahoma_____
Oregon................
Pennsylvania 8_
South Carolina _
South D a k o ta ..
Tennessee..........
T exas_________
U ta h _________
V erm ont______
V irginia.............
W ashington___
W est V irginia..
W isconsin_____
W yom ing--------
For addiction
State
For conviction '-f P'f>
Pending action on
Dec. 31,1939
*<r
Action taken
Reported for narcotic irregularities
For conviction or ad
diction in other
States
T a b l e 6 . — Number
77
TRAFFIC IN OPIUM
— Number of persons, by class authorized to obtain narcotic drugs legally,
reported for narcotic irregularities, and disposition of cases by State licensing
boards— Dentists
T able 6 -A
Action taken
Reported for narcotic irregularities
Reported during
1940
Pending action
on Dec. 31,1939
State
L icen ses Dismissed w ith
revoked out disciplinary
action
Pending action
on Dec. 31,1940
con For ad
For con For ad For con For ad For con For con For ad For
viction diction viction diction viction viction diction viction diction
Iowa — -------------M ichigan-------------MinnesotaMissouri------- — -
1
1
--
1
1
Tennessee________
Total-
1
1
1
1
1
1
1
1
1
1
3
3
1
2
1
1
1
1
1
3
T a ble 6—B . — Number of persons, by class authorized to obtain narcotic drugs legally»
reported for narcotic irregularities, and disposition of cases by State licensing
boards— Veterinarians
State
Reported for
narcotic
irregularities
Action taken
Pending action
on D ec. 31,
Dismissed
w ithout dis
ciplinary ac
tion ‘
For conviction
For conviction
2
2
2
2
--------------- L------------T a ble 6—0 . — Number of persons by class authorized to obtain narcotic drugs legally»
reported for narcotic irregularities, and disposition. of cases by. Stale licensing
boards— Osteopaths
___
Reported for narcotic
irregularities
State
Action taken
Pending
action on
Pend
Li
Dec.
31, 1940
Probations
ing
censes without nar Proba
action Reported during 1940
tions
re
cotic
privileges
on Dec.
voked
31,1939
For
For
con-,
con
For
For
For
viction
For
For viction For |
For
For
con addic
con or ad con
con addic or ad con
con
tion
viction
viction
diction
viction
viction viction tion diction viction
in other
in other
States
States
1
__________
Missouri
Nebraska----------------------N ew M exico------------------Tennessee_______________
9
1
3
3
1
13
5
1
3
1
7
1
1
West Virginia_____ _____
T otal----- ---------------
1
1
1
1
3
1
1
2
1
2 1
3
1
7 1
6
1
2
T able
6-D.— Number of persons, by class authorized to obtain narcotic drugs legally, reported for narcotic irregularities, and disposition of
cases by State Licensing Boards—Pharmacists
Action taken
Reported for narcotic irregularities
Pending action on
Dec. 31, 1939
Reported during
1940
Licenses
revoked
Licenses
suspended
D is
N ot
D e
missed licensed
ceased
Admonitions without
disci
plinary
action
Probations
State
A la b a m a
A rk an sas
C a lifo rn ia
For
ad
dic
tion
For con
viction For
or ad con
diction vic
in other tion
States
1
1
For
ad
dic
tion
For con
viction For
or ad con
diction vic
in other tion
States
i
i
For
ad
dic
tion
For
con
vic
tion
For con
For viction For
con or ad con
vic diction vic
tion in other tion
States
For
ad
dic
tion
For
con
vic
tion
For
con
vic
tion
For
ad
dic
tion
For
con
vic
tion
For
con
vic
tion
«1
i
N ew York
N o r th C a ro lin a
O k la h o m a
S o u th C a ro lin a
T en n esse e
Texas
W e s t V ir g in ia
W isoonsin
T o ta l..______
i
1
7
1 *:r_*v *
7
2
1
2
1
2
1
1
14
3
1
1
i
3
3
1
1
36
1
1
i
1
1
1
5
2
For con
viction
or ad
diction
in other
States
4
4
Florida2
G eo rg ia
Illin o is
I n d ia n a
K e n tu c k y
L o u is ia n a
M assach 11s etts
M ie h ig a n
M in n e s o ta
M isso u ri
For
ad
dic
tion
27
3
10
1
1
i
1
1
1
2
1
i
1
1
i
u
1
5
2
1
2
1
i
4
1
2
1
i
1
2
16
i
i
6
1
6
1
2
1
i
1
5
1
6
31
i
41
1
6
1 This revocation was effected with respect to a druggist’s permit to conduct a drug store.
2 In this State, the board, as a result of independent investigation, placed on probation 1 pharmacist who had been convicted under the Federal narcotic law.
* This pharmacist allowed his license to lapse and, due to his narcotic conviction, the board refused to allow him to take an examination for reinstatement.
r io a a g g
\
1
>
TRAFFIC IN OPIUM
For
con
vic
tion
Pending action
on
Dec. 31,1940
79
TRAFFIC IN OPIUM
T able 6 - E
Number of registered nurses reported for narcotic irregularities and
disposition of cases by State licensing boards
Action taken
Reported during
1941 for narcotic
irregularities
Licenses revoked
State
For con
viction
Michigan__________
Nebraska— ---------N ew York.»-----------LIDIO______________
Wisconsin_________
o
T otal________
2
For ad
diction
For con
viction
Pending action on
D is
D ec. 31,1940
missed
without
disciplin
ary action
Proba
tions
For ad
diction
For ad
diction
..................
1 ..............r
1
1
1
1
1
2
6
For ad
diction
For con
viction
For ad
diction
1
1
1
1
3
i
1
1
1
1
i In this State, the authorities, as a result of independent investigation,_ revoked the licenses of 2 registered
nurses, both addicts, 1 of whom had been convicted under the State Uniform Narcotic Drug Act.
T a b le 7. — Number of aliens reported for deportation and disposition of cases
Country of nationality
Previously
reported
and pend
ing on Jan.
1, 1940
A u str ia ..,............ —.........- ...........-'— ..............
Brazil____ _____ . . . --------- •---------- . . . — . .
1
1
1
2
1
China
____________________
Cuba_____________________ ____________—
78
5
France_____________ - - --------------- ----------England—
-----— — --------- Kcilfldor
_______________________
Germany__________ L ,----------------—
Greece— , — — — — -------------- — —
1
4
1
1
3
Deported
during
1940
Reported
during
1940
Cases
pending on
Dec. 31,
1940
N ot de
portable
1
1
1
1
34
1
1
19
1
31
2
1
1
1
1
i
1
1
1
13
3
8
3
3
1
35
3
8
1
1
3
2
— ........ | — ------ — - —
27
2
1
1
P anam a._______ i------------— - -----------------Poland_________________________________
Spain__________________________________
1
1
4
6
1
2
1
5
1
1
_____- - - - - - - - - - - - - - - - - -
142
71
36
41
Total
2
1
1
62
1
M exico.. --J— --------- - - - - - - ------ !------------T he Netherlands....................... - ......................
Nicaragua______________________________
I t a ly .....— —
1
2
1
2
1
1
2
5
136
—
80
TRAFFIC IN OPIUM
T a b l e 8.— Narcotics reported stolen from registrants under the Harrison narcotic
Number of thefts
law, as amended, during the calendar year 1940, by districts
District
Boston.
N ew York
Philadelphia
B a ltim o r e ____
Atlanta
Louisville
Detroit
Chieago
Houston TCansas C ity
Minneapolis
Denver _
San Francisco___
Seattle__________ .
T otal............
29
82
25
64
81
57
46
70
103
94
76
34
87
67
M edici
nal
opium
a
0s*3
tuo
0
«
2
2
—
915
8
§o3
O
Morphine Codeine
a
c3
H
tub
Q
CO
a
03
S-4
0
a
a
03
&
s
a
0
Sh3
O
1
597
21
173
157
78
109
5
913
166
547
481
204
99
683
744 . . . .
487
422
136
375
414
265
341
295
618
472
346
103
429
691
6
11
394
10
972
D eriva
tives,
Her Dio- Dilau- miscel 1Cocaine Coca
oin
nin
dide laneous
leaves
opium
1
CÖ
O
0S-48
O
S-4
323
456
168
151
156
190
256
266
402
233
100
178
634
371
3
23
4
3
2
884
92
CO
a
01-43
O
a
a
0S-43
G
0o
O
S
08
S-4
co
ic5
S-4
O
1
2
25
1
68
32
5
1
3
4
3
1
5
6
2
3
17
22
6
3
3
14
15
1
3
38
218 . . . .
104
141
17
63
34
11
106
23
111
79
62
30
165
193
185
73
329
1
139
2
3
10
4
5
3
4
6
17
32
3
17
5
5
1
22
3
a
a
08
S-4
O
82
82
N ote.—Figures for medicinal opium and coca leaves represent the actual quantities involved, either as
such or contained in tinctures, extracts, etc. Figures for miscellaneous opium derivatives represent the ac
tual quantities of such derivatives. A ll other figures are in terms of the respective anhydrous alkaloids.
T a b le 9.— Importations of crude opium into the United States during the calendar
year 1940, by country of export and country of production
Country of production
Total
Country from which exported to the
U nited States
Turkey
Kilograms Grams
Kilograms
Yugoslavia
Grams Kilograms
Turkey in Europe............ ..............................
Yugoslavia____________________________
Java__________________________________
61,856
47,131
397
211
683
314
61,856
211
397
314
T o ta l.......... ........................................... .
109,385
208
62,253
525
Grams
47,131
683
47,131
683
T a b le 9 -A . —Importations of crude opium into the United States by calendar years
1925 to 1940, inclusive
Calendar year
1925-__________ ____ _______
1926_____ _____ ____________
1927.................................................
1928________________________
1929.................. ........................
1930________________________
1931________________________
1932.................................................
1 Includes reserve stocks.
Kilograms
Grams
46,655
64,837
64,927
44; 586
76,993
54', 243
61,165
59, 292
326
217
312
41
593
805
681
455
Calendar year
1933_______________________
1934_______________________
1935 ..
1936_______________________
1937___________
1938_______________________
1939_______________________
1940 ...
Kilograms
52,520
61,454
32,147
87; 188
130,064
64', 335
» 175,413
1 109,385
Grams
723
272
644
438
948
20
715
208
81
TRAFFIC IN OPIUM
T a b le 10.— Importations of coca leaves into the United States by country of produc
tion, by calendar years, 1925 to 1940, inclusive
Country of production
Java
Peru
Calendar year
Kilograms
1925..
19261927192819291930..
1931193219331934..
f
\
f
\
f
\
f
\
f
-\
/
l
/
1935..
1936.
1937.
1938.
1939.
/
l
1940.
42,457
6 l’ 292
84' 377
56,108
51,503
67,623
67,143
i 98,486
67; 652
58,899
58,223
i 4,480
60,142
i 15,861
67,607
1 69,533
67,371
‘ 88, 213
67,041
1 107, 540
67,037
140,676
67,817
i 206, Oil
Grams
Grams Kilograms
Grams
Kilograms
1
29,797
72,054
30, 217
54, 558
10,114
22,075
55,605
33,972
2 22,799
3 22,847
244
91
724
485
418
410
89
18
914
83
72,254
133,347
114, 594
110,667
61, 617
89,699
221, 235
101,624
81,699
85,551
578
54
886
347
962
155
525
340
46
171
1
34,326
246
110, 330
782
1
34,248
398
171,389
634
1
34,012
587
189, 598
231
1
33,999
660
208,581
675
1
56,100
499
263,814
726
1
78,372
399
352,200
544
334
963
162
862
544
745
845
591
322
132
281
807
655
881
416
820
775
869
560
455
931
296
4
141
\
i Tmnorted under sec 6 of act of June 14,1930, for the purpose of manufacturing a nonnarcotic fla w in g
extract^all cocaine and ecgonine content of the leaves being removed and destroyed under Government
SUF o 7th isq u a n tity , 998 gm. were imported under special permit for experimental Purposes.
* Of this quantity, 2 kg. 268 gm. were imported under special permit for experimental purposes.
T a b l e 10-A . — Importations of cannabis seed (hempseed) into the United States by
calendar years, 1930 to 1940, inclusive
Calendar year
Kilograms
Grams
1930--------------- ---------------------
2 446,503
1 630,975
2,S91. 581
147
336
108
421
866
332
1932-----------------------------------1933------------------------------------
9! 058,610
5,888,279
1935-— — ------ — — ............... 52,942,804
Calendar year
Kilograms
1936.......................- ...............— - 28,536, Oil
216,461
1937— ........ — T- .................... 233,276
1938........ ........................ - .............
585,253
1939.............- .........- ....................
526,260
1940_____________ ______ ___
Grams
340
303
861
728
546
82
TRAFFIC IN OPIUM
T a b l e 11.— Number of persons registered under Federal narcotic laws on June 80,
each year 1921 to 1940, by classes
Class 1—
Class 4—
Class 5—
Class 6—
Importers, Class 2—
Physicians, Manufac
Users for
manufac
Class 3— dentists,
turers of purposes of
Whole
turers,
Retail
veterinar and dealers research,
sale
com
ians, and
dealers
in exempt
instruc
dealers
pounders,
other prac prepara
tion, or
etc.
titioners
tions
analysis
Year
1921.
19221923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
19321933.
1934.
1935.
1936.
1937.
1938.
19391940-
649
516
410
364
339
322
306
296
291
287
263
253
226
218
206
192
181
175
162
168
2,948
2,467
2,256
2,060
1,959
1,826
1,778
1,784
1,751
1,725
1,605
1,523
1,467
1,426
1,405
1,356
1, 353
1,286
1,277
1, 314
47,233
42.942
45,356
46,416
48,187
48,459
48,523
50,601
51, 568
53,118
53,227
52, 539
51, 744
49,907
51,080
51,481
51,488
51, 579
51,387
51,528
160,906
147,677
147,891
143,232
144, 711
143,879
144,056
145,379
146,588
148,079
149,025
148,556
146,632
144,643
148,317
152,421
153,951
156,654
158,257
158,986
83,391
74,656
90,492
96,975
113,413
119,146
120,699
120,877
123,784
127,594
128, 757
128,192
123,123
121,200
124,457
127,631
133,741
136, 937
140,362
145,043
54
72
105
Total
295,127
268,258
286,405
289,047
308,609
313,632
315,362
318,937
323,982
330,803
332.877
331,063
323,192
317,394
325,465
333,081
340, 714
346,685
351, 517
357.144
N ote .—T he figures for persons or firms registered in each class include persons or firms also registered in
1 or more of the other classes.
T a b le 11-A . — Number of persons registered under the Marihuana Tax Act on
June 30, each year 1938 to 1940, by classes
Year
Class 1—
Importers,
manufac
turers, and
com
pounders
Class 2—
Producers
(growers)
Class 3—
Dealers,
wholesale,
and retail
Class 4—
Physicians,
dentists
veterinari
ans, and
other practi
tioners
Class 5—
Users for
purposes of
research, in
struction, or
analysis
1938______ ____ _
1939_______
1940__________
13
20
16
371
174
219
1,179
452
378
2,097
1,358
1,217
5
26
19
T a ble 12.
Total
3,665
2,030
1,849
Statement of crude opium imported, held in customs bond, and released
to manufacturers during the calendar year 1940
Crude opium
Item
Kilograms
Grams
Stocks held in customs bond at beginning of year..............
Imported during the year___________________________
145,783
109,385
85
383
Total....... .......................................................................
255,168
468
Released to manufacturers during the y e a r ......................
Differences between importation and withdrawal weights.
Stocks held in customs bond at end of year.........................
78,654
i 279
176,234
561
400
507
255,168
468
Total______________ [________________
1 Opium upon importation for storage in custom bond is entered at the invoiced or declared entry weights.
D ue to loss of moisture, discrepancies in the invoiced weights, etc., there are frequently differences between
the entry and withdrawal weights. T he opium withdrawn was entered at 78,933 kg. 961 gm„ but was found
upon withdrawal to actually weigh 78,654 kg. 561 gm., a difference of 279 kg. 400 gm.
TRAFFIC IN OPIUM
83
T a ble 1 2 -A.— Statement of crude opium and coca leaves received, used, and held as
stocks by importing manufacturers during the calendar year 1940
Raw coca leaves
Crude opium
Item
Kilograms Grams
Kilograms
Grams
On hand Jan. 1,1940----------- - - --------- - - ----- ----------------- ------Imports released to manufacturers during 1940— ........... .......---Gain in weight due to absorption of moisture----- -------------------
2,338
78,654
408
561
14,670
i 352,200
945
465
544
2
T o ta l........................................- .........- ...........- ...........- —
80,992
969
367,816
11
Exported______ ____ _____ - ............................. ............................. .
Used for extraction of alkaloids and salts------------------------------Used for manufacture of medicinal o p iu m .---------- - ---------------Used for manufacture of tinctures, extracts, and other prepara
tions. ______________________ r------ - - - - -------- ------------- —•
Used for manufacture of nonnarcotic products---------- ------ -----Consumed in analyses, etc-------------------------------- - - - ------------On band Dec. 31,1940------------ ;.------ ------------- ------------- --------
507
75,013
2,193
569
721
485
139,418
750
1,479
872
206, Oil
141
2
1,795
693
629
22,386
120
80,992
969
367,816
11
T o ta l.- - - - - - ........ ................. ..................... ............—...............
i Of the quantity of coca leaves imported 206,011 kg. 141 gm., from which approximately 1,573 kg. 510 gm.
of cocaine were producible, were imported and used under sec. 6 of the act of June 14, 1930, for the manu
facture of nonnarcotic flavoring extracts. All cocaine and narcotic substances contained therein were
extracted and completely destroyed under Government supervision.
T able 13.—Statement of original manufacture from crude opium, coca leaves, and
morphine, by importing manufacturers during the calendar year 1940
Crude opium
for medicinal
opium
Crude opium
for tinctures
and extracts
Crude opium
for alkaloids
Crude coca
leaves for
alkaloids
Item
Morphine
for codeine,
ethylmorphine,
dilaudid, and
apomorphine
Kilo Grams Kilo Grams Kilo Grams Kilo Grams
Kilo
grams
grams
grams
grams Grams grams
In process Jan. 1,1940...
Placed in process during
1940________________
63
2,193
248
485
25
1,479
751
9,051
482 56,874
633
1,334
872 75,013
721 139,418
750
7,972
189
383
9,306
940
288
T otal............ ...........
2,256
733
1,505
160 84,065
203 196,293
Removed from process
as finished products...
Remaining in process
Dec. 31, 1940________
2,022
623
1,328
316 76,323
892 84,787
430
8,299
3Í4
234
110
176
7,741
311 111, 505
953
1,007
626
T otal.......................
2,256
733
1,505
160 84,065
203 196,293
383
9,306
940
844
T able 14.
Statement of principal drugs produced for sale, sold, and held as finished stocks by importing manufacturers during the calendar
year 1940
Medicinal
opium
On hand Jan. 1, 1940_______________
Produced during 1940____________
T otal_______________________ ___
T otal_______ ____ _____ ______ ___
Sold domestically, principally to pharmaceutical manufacturers____________
Exported by importing manufacturers__
Used for extraction of alkaloids_________
Used in analyses, lost in remanufacture,
destroyed, e tc 2________________
Used by importing manufacturers in
exempt preparations__________________
On hand Dec. 31,1940_____
T otal________ _____________
Dihydromorphinone
(dilaud id)
M ethylmorEthylmorphine
phine (codeine)
(dionin)
Cocaine
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
1,830
4,450
753
643
412
2,121
684
769
63
673
1,108
1 7,829
380
166
56
307
954
422
164
822
Q66
475
i
6,281
396
2,534
453
63
673
8,937
546
364
376
987
441
i
2,557
1,893
464
179
43
1,807
622
632
232
142
680
876
940
148
673
330
386
313
799
65
63
7
23
1,433
4' 141
2,224
28
756
931
174
871
1
338
63
307
422
Dihydrocodeinone
(dicodide)
Thebaine
Grams
Kilo
grams
Grams
39
i
535
343
i
570
32
7
600
170
935
4,450
3,034
59
13
.
643
2,121
769
63
673
7,829
166
307
422
822
475
39
529
364
948
2,038
11
17
255
59
846
8,109
8
88
193
327
2
663
353
710
41
851
32
3
580
5
330
57
2
126
26
100
414
916
2,156
369
772
481
601
3
714
814
935
34
303
274
423
i
285
6,281
396
2,534
453
63
673
8,937
546
364
376
987
441
i
343
113
i
535
1
347
i
570
TRAFFIC IN OPIUM
Produced as—
M edicinal opium ________________
Tinctures, extracts, etc.......... ...........
Refined alkaloid_________________
S u lfa tesa lt-.- ________________ ____
Phosphate salt_____________________
Hydrochloride salt________ ________
Acetate salt____ ___________________
Hydrobromide salt. ______________
Meconate salt______________________
N itrate salt_________________
Pantopon. ___________________
Hydroiodide salt______________ ____
Bitartrate salt__________________
Morphine
^
223
1 Of this quantity, 578 kg. 953 gm., represents natural codeine having been extracted from the same opium as that used to produce the morphine during the year.
2 These figures include actual losses sustained by adhesion to equipment, wastage in tablet-punching and molding machines, breakage in handling, wastage in packaging, etc., and
also products consumed in experimental and control analyses. Manufacturers are subject to prosecution for misbranding under the various food and drug laws unless the finished
product can be shown by assay to contain the ingredients which it purports to contain. In order to assure the presence in the finished product of the full assayable narcotic content
manufacturers find it necessary to actually use more opium, or other narcotic, in the manufacture of a preparation than is represented by the standardized finished product. Par
ticularly is this true in the manufacture of tinctures, etc., where some decomposition of the assayable alkaloid occurs during the manufacture. Such differences between the actual
narcotic used and the assayable standard of the finished product are reflected in the accounting as manufacturing losses and are also included in these figurés.
wmm
T able
15.—-Statement of principal drugs produced, consumed and held as stocks, calendar year 1940
M edicinal
opium
Morphine
Dihydromorphinone
(dilaudid)
M ethylmorphine
(codeine)
Ethylmorphine
(dionin)
Cocaine
Diacetylmorphine
(heroin)
Coca-leaf prep
arations
Kilo
grams
Grams
Kilo
grams
240
78
415
78
415
Item
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Kilo
grams
Grams
Stocks held at beginning of year..........
Produced during year---------------- ---------Seized drugs released to governmental
establishments. ...________ _____ ___ —
Returned from dispensers for remanufac
ture____ . . . ———.................—- —----- --
3,896
4,450
864
643
2,030
2,121
532
769
36
63
259
673
4,255
7,829
202
166
149
307
855
422
651
822
188
475
2
Total to be accounted for...................
8,347
507
4,152
556
99
932
12,084
368
457
277
1,473
663
2
1,896
552
2,063
815
54
998
5,912
967
118
76
762
148
79
364
40
292
279
25
376
105
6
65
29
426
1,975
916
2,104
362
55
277
5,938
343
118
181
768
213
29
454
166
13
2,097
4,093
738
948
239
666
25
231
1
167
86
774
13
503
17
351
51
1,971
908
55
43
488
1,561
4,498
65
186
190
135
480
113
688
99
1
1
247
644
77
961
1,473
663
2
920
78
415
T o t a l...............................- ....................
Exported___________ ____ —----------------Used for extraction of alkaloids. ........ —
Used in exempt preparations------ ---------Stocks held at close of year.................. ..........
Total accounted for............................
255
___
680
920
28
255
8,347
507
4,152
556
99
932
12,084
368
457
277
TRAFFIC IN OPIUM
Consumption:
Sales to retailers, practitioners, etc,,
for dispensing--------------Used b y governmental establish
m e n ts .._________________________
Used in analyses, lost in remanufac
ture, destroyed, e tc ........... . ................
Grams
N otes.—Figures for stocks include all finished stocks held by manufacturers and wholesale dealers, Figures for medicinal opium represent the actual quantities of medicinal opium
involved, either as such or contained in tinctures, extracts, etc. Figures for coca-leaf preparations are in terms of the actual quantity of raw coca-leaves represented by the preparations. All other figures are in terms of the respective anhydrous alkaloids.
00
86
TRAFFIC IN OPIÏJM
T a ble 16. -Taxable narcotic drugs exported from the United States, by country of
destination, during the calendar year 1940
M edic
inal
opium
Mor
phine
Dilaudide
Codeine
Dibnin
Dicodide
Cocaine
Country of destination
Bermuda......................... _...........
Bolivia..________________
British West Indies__________
Canada__________
c h i i i . . - .........................
Colombia___ _______ ________
Costa Rica________
>
C uba................. ..........I_IIII—H
Dominican Republic.......... _HH
Ecuador___ _______ ___ _____
England__ _____
HH
Finland...................
fg
Greenland............ ........ J________
Guatemala._________ „ _[_____
Haiti___;_______________ II HI
Honduras................ ..................11
Hong Kong_____ / ___ ______
India........... ...............
Liberia...___________________
Martinque, French West indies.
Mexico_______ ____________ _
Netherland East Indies_______
Netherland West Indies.......... .
N ewfoundland_______________
New Zealand.................................
Nicaragua......... ........ ........ ............
Panama__ __________
I
Peru......................
I.IIIIIH
Salvador.__________________ H
Union of South Africa_________
Venezuela_______ ____
T otal.
12
368
650
25
205
419
648
1
1
155
949
460
812
292
105
41
27
795
602
902
13
64
215
12
10
37
1 269
360
350
26
500
902
89
409
940
406
182
231
24
719
167
350
571
243
478
503
511
334
347
278
N?HE' ~ FigIlr?s for medicinal opium represent the actual quantities of medicinal opium involved either
K o i d s COntamed m tinctures- extracts<
All other figures are in terms of toe res “ec?ivc anhydrous
T able 17 .— Taxable narcotic drugs shipped from the United States to the Philippine
Islands during the calendar year 1940
Kind of drug
Medicinal opium .
M orphine..............
Codeine_________
Cocaine_________
Grams
507
512
296
73
f°r.medicinal opium represent the actual quantities of m edicinal opium involved either
M o l d s . Contamed in tmctures, extracts, etc. All other figures are in terms of the ? ^ c t ° v S y d r o u s
T a b le 18.- *Taxable nartotic drugs shipped from the United States to Puerto Rico
during the calendar year 1940
Kind of drug
M edicinal opium ______________
M o r p h in e ................................. ’
D ilaudid______________ I____ * H
Codeine_____ ___ j___ I._ .IHIIII"
D ion in _____ _______ ______ HUH
Miscellaneous opium derivatives
Cocaine__________
Grams
43
354
70
758
273
233
344
« iS S S k r S S S S S .,f0r medicinal opium represent the actual quantities of opium involved, either as such or
TRAFFIC IN OPIUM
87
T able 19-—Report of the Government of Virgin Islands of the United States, of
narcotic drugs received, dispensed, and on hand, calendar year 1940
Opium
Mor
phine
Co
deine
Cocil
Dionin Cocaine lana
Paregoric
Grams Grams Grams Grams Grams Grams
Kilograms
Grams
Qn hq/nd .Tan. 1, 1940___________
R eceived_____________________
250
643
113
45
211
235
9
145
5
283
3
4
629
536
T otal___________________
893
158
446
9
150
283
8
165
Dispp/nsfid
__ ___________
On band Don. 31, 1940_________
344
549
47
111
312
134
3
6
42
108
28
255
8
165
893
158
446
9
150
283
8
165
T otal.___________________
N o t e . —Figures for medicinal opium represent the actual quantities of medicinal opium involved, either
as such, or contained in tinctures, extracts, etc. Figures for morphine, codeine, dionin, and cocaine are
in terms of their respective anhydrous alkaloids. Figures for cocillana compound and paregoric represent
actual quantities of these preparations.
T able 20.— List of countries parties to the International Opium Convention, The
Hague, Jan. 23, 1912
Iraq.
Albania.
Ireland.
Australia.
Italy.
Belgium.
Japan.
Bolivia.
United Kingdom of Great Britain and Latvia.
Liberia.
Northern Ireland.
Lichtenstein.
Brazil.
Luxemburg.
Bulgaria.
Mexico.
Canada.
Monaco.
Chile.
Netherlands.
China.
New Zealand.
Colombia.
Nicaragua.
Costa Rica.
Norway.
Cuba.
Panama.
Czechoslovakia.
Peru.
Danzig.
Poland.
Denmark.
Portugal.
Dominican Republic.
Rumania.
Ecuador.
Salvador.
Estonia.
Spain.
Finland.
Sweden.
France.
Switzerland.
Germany.
Thailand.
Greece.
Turkey.
Guatemala.
Union of South Africa.
Haiti.
United States of America.
Honduras.
Uruguay.
Hungary.
Venezuela.
Iceland.
Yugoslavia.
India.
88
TRAFFIC IN OPIUM
T a b l e 21. — List of countries parties to the International Convention for limiting
the manufacture and regulating the distribution of narcotic drugs, July IS, 1981
Afghanistan.
Albania.
Australia.1
Belgium.1
United Kingdom of Great Britain
and Northern Ireland.1
Brazil.1
Bulgaria.1
Canada.1
Chile.1
China.
Colombia.1
Costa Rica.1
Cuba.1
Czechoslo vakia.1
Danzig.1
Denmark.1
Dominican Republic.1
Ecuador.1
Egypt.1
Estonia.1
Finland.1
France.1
Germany.1
Greece.1
Guatemala.
Haiti.1
Honduras.1
Hungary.1
India.1
Iran.
Iraq.1
Ireland.1
Italy.1
Japan.1
Latvia.1
Lithuania.1
Lichtenstein.1
Luxemburg.1
Mexico.
Monaco.1
Netherlands.1
New Zealand.1
Nicaragua.
Norway.1
Panama.
Peru.
Poland.1
Portugal.1
Rumania.1
Salvador.1
San Marino.1
Saudi Arabia.
Spain.1
Sudan.1
Sweden.1
Switzerland.1
•Thailand.1
Turkey.1
Union of South Africa.1
United States of America.
U. S. S. R.1
Uruguay.1
Venezuela.1
1 Indicates countries (52) parties to the International Opium Convention, Geneva, Feb. 19, 1925, certain
provisions of which the United States, a nonmember, has adopted by membership in the 1931 convention.
In addition, Bolivia and Yugoslavia are parties to the 1925 convention.
INDEX
A
Page
Addiction, drug, decrease in--------------------------------------------=-----------2-8
in the State of Washington------------------ j--------- --------2-4
number of persons undergoing treatment in U. S. Public
Health Service hospitals for---------------- - --------------- 19-21
report on relation of adulteration to------------------ ------5-6
reports on the extent of-------- -------------------------------2-8
use of barbituric acid derivatives as substitutes for nar
cotic drugs in___---— -___ ------- -------------------------4-6
to cocaine, report on extent of------- -------------------------------6
Addicts, drug, number of— -B— ---------- --------------------------- -------2
Addresses delivered to various organizations--------- ------------------------- 53
Administration. _______ _ ------ 1-----------------------------------------------2
of the Bureau of Narcotics, editorial comment on the----6
Administrative arrangements under international conventions---------- 2
Code, Model, adherence to the---------------------------------8
Adulteration__ ___ ---------------------- ^ ------------ ----- - - i ------ - - ---------19
_ _ _ ---------------------- i ----------19
of cocaine—___M
drugs, report on the results---------- --------------- ----------5-6
heroin_____ ______ __________ ------------------------- 14, 16, 19
morphine-__— ---------- ----------------------------19
report on relation to drug addiction of------- ----------- - 5-6, 16-18
Air, illicit traffic by_-_i^l__ !8 |_ -— 3 -- -------------- -r — --------------45
Alderson, W. Va., number of violators of Federal narcotic laws in the
reformatory a
t ___ ----------------------- ----------------- - - -------------21
39
Alias Brooks, George (see also Klein, George)----------------------------------Dago New (see also Stobble, T h o m a s ) ------ —
-----39-41
Feraco, James (see also Russo, James)------------------- - ---------- - 39-41
Huey, Frank (see also Lum Wah)_________ -------- --------^---------29
Tom May Teng (see also Dong, Charles)-------- ------ ------- :-------^
Tom Way Ting (see also Dong, Charles)----------| | S -------------------38
Wong, George (see also Lum Wah)_----------------------------- -—
29
35
Tommy (see also Wong Kim Keung)___^— J i ---------—
Yee, Jins M. (see also Yee Duck Ming)_i.—
----------------------^5
Tuck Min (see also Yee Duck M i n g ) ------- --------------35
Aleins, deportation of---------- --------------------M — ------------- ------------ 45-56
Allister, seizure ex steamship----------------- 1|---- | ------ -— :-----------------51
American Medical Association Journal, editorial comment on Bureau of
Narcotics-i'__| | — ---------------Mi.-*'*------------- ----------------------------®
American Medical Association, statement re State boards--------------- 57
American Press, seizure ex steamship---------------------------------------------51
Analysis of illicit traffic—--------------------------------- --------------------------- 16-19
Angelson, Al, case involving------------------- -----------------------------------28
Angelus Superior Biscuits—Made in Hong Kong, seizure bearing label
m arked-lli__ ^------------ ■
------------------— — ------------------------------ 23—24
89
90
INDEX
P age
Appraiser’s stores, seizure of opium taken from------------------- ----------10, 25, 26
Argentina, case involving steamship— -------------------------------------------50
Arizona, Douglas, seizure a t-------------------------------- ---------------- 10, 42, 43, 51
Nogales, seizure at__----------------------------i ----------------- 14, 43, 44, 51
11
Phoenix, seizure a t------- — ----------------------------------------- Arkansas Gazette, Little Rock, comment on narcotic situation in Arkansas _ 49
Arkansas, Leachville, case involving diversions by registrants a t------------47-48
Little Rock, case involving diversions by physicians a t------ 48-49
Arrests. (See names of individuals.)
under marihuana law----------------------------------- — -------*----49
Atlantic Coast area, illicit traffic in the-------------- ----------------------------22-29
Australia, Sydney, alleged smuggling from------ - - - - - ------------------------37
Automobiles, value of seized--------------------------------- - - ----------------- L 56-57
B
13
Bags, seizure contained in rubberized silk-------------------------------------- Bailey, Dr. W. E., case involving----------------..------------ --------------------48-49
Baltimore, Md., seizure a t------------------------------------ — -----------------26
Barbituric acid derivatives, illicit traffic in------------------------------ -------17
use of________ ____________________ 4^6, 17, 18
Beland, Charles, case involving---------- ------------------------ ------------------39-41
Bernardi, Charles, case involving. ------------------------------------------------- 39-41
Bernstein, Sam (see also Newman Brothers case and Emanuel Weiss
case)_______ ,____ _______ _______ :----------------------- i 26, 27, 28
Samuel, et al. case------------------------------------------------------28
Bieler, Arthur (see also Samuel Bernstein case)------ -------------- - ----------- 28-29
Biscuit tin, seizure contained in-------- -------------------------- -----------------23-24
Black Condor, case involving steamship------------------- 1----------------------' 50-51
57
Boards, State__________________________________________
Boston, Mass., report on the illicit traffic in------------------------------------19
seizure a t------------ --------- ----------- - - - - - -------------------51
Brazilian ports, seizures on vessels from. --------------------------------- ------15
Briggs, Harold, case involving------------37
British Opium Monopoly in Singapore, seizure of tubes similar to the
packages of_________________________ ___________________ H* 24-25, 34
British steamship Silverwalnutcase-------------------------------------------------22-23
Brooks, George, alias (see also Klein, George)---------------------------------- 39
Brucine, seizure of, falsely labeled as morphine---------------- a/4-----------44
Bullington, Joe Edgar, case involving------ ---------------------------- --------44
Bureau of Narcotics, editorial comment on administration of the----------6
organization of the----------------------------------------2
C
Caffeine, seizure of, falsely labeled as morphine-------- - - - - -------- ---------44
California, Calexico, seizure a t------------------- - - - - -------9, 10, 37, 38, 51
Los Angeles, case involving physician a t--------------------------- 46, 47
new legislation adopted in State of_.--------- ___. — -----------2
Sacramento, crime associated with marihuana a t— ------------51
San Diego, seizure a t____- - - - - - -------- --------------- ------ - — 37, 38
San Francisco, report on the illicit traffic in------ L
----- 19
seizure a t_____ — ------------ 10-11, 13, 29-32, 34-36
51
Terminal Island, seizure a t------- ---------------- ------------------Wilmington, seizure a t_________________________________
51
INDEX
91
P age
Canada, cooperation of Government of__________________ __ _______
9
Cannabis, control of exports of_________ ______ _ _ _ _ , ^
---8-9
imports of_____ _______ - ____ ____ - __________
8-9
manufacture and distribution of_________________
59
trade in______ ____________________ ___. ___---I 8-9
in-transit shipment of__________________________________
8-9
sativa L. (See Marihuana.)
Carter, Rose, case involving_________________ ____________\ ____
43’»
Chadwick, Mrs. Philip N., case involving______ ____ ____ | ____ _
39-41
,
Philip .N., case involving...____________ ___________ ___ ,_ 39-41
Chapman, Abe, case involving___________________ ________ :_______» 39-41
Chicago, 111., seizure at___________ ___________,____ ____,__ _______
13:
Ching Kee, seizure involving________._________________ 'k__________ 24-25
Chow Fook, arrest of___________ _______ ;__ ¡$____________________ 24-25»
Chun Wo, case involving____________________________ .____ J _____32-34
Cigarettes, concealment in_______ >___ ____._______________ ,______32-34
prices of marihuana__________________________________
15
Clinics, drug, conducting of __________ ______________________ _____
6-8
newspaper comment on legislation to establish.__________ ____
7—8
Clothing, concealment in
Jl- _f§L?__ _____ : _________ ______________ 30, 37
Coates, Charles Edward, case involving_____ ____ ___ i---------------------54-55
Cocaine, adulteration of____ _____ ____ ^______ ___ _____ _ _— -----19
illicit traffic in______________ __ I ___________14
prices of________ _____________ ____ r___.,-------____-------- ¡h.
14
report on extent of addiction to__i--;-_-_---_-------------- ------6
seizures of__i__iy_____________________________ 14, 15, 31, 35, 43
Coca leaves, control of imports of___________ -------------------------- -M j
8
establishments authorized to import__________ _ -_______ 63-64
importations of_______________ _______ ________ §j—- 9, 58-59
revenue from importations of_____ ___X------------------------- 58-59
'Code, Model Administrative, adherence to the______ 8
'Oodeipe, illicit traffic in ___ _ _ _ - ^ _ _ _ _ _ - i G | C _ _ _ _ ----------------- tutf-u----14
seizures of_______¿L__tt---------------------------------- - —- — I4r 43, 45
28
Cohen, Philip, case involving___----------------------------- --------------------Sam, arrest of__ _____ --------------------Jiuiiks:;--------- — 25-26Collino, Patrick N., case involving----------- .__ — -------______________
44
Comparison of Narcotic Drug Law Violators in Federal Prisons with total!
prison population________ ;____ :--------- ------------------- --------------- - 19-21
Concealment in cigarettes______ :------------- ------ 1— ---------------32-34
clothing___ _____ _'----- --------------------------- -------__- - 30, 37
paint______ ___l!_____________ — — ------------ ;------23
shoes______ ._________________________ __________ 23—24
method of__________________ _____ _______________22
on vessels____ ___________ 15, 22-24, 26, 29-32, 34-36, 43j 50—51
Consumption ____ __ ____ _____ — — SfcywiUh. i&L-fcîi------------ . 65
Control, internal, of manufactured drugs _v------ ------------------ -------------- 61-63
of distribution
-------------- •—
— ------ — - - -----61international trade-------------------------- ?£_— — ®&g||-------8-9
manufacturing---------------------------------------------- ----- - —
61
Convention of 1912, The Hague Opium---------------------- — ----------- 65
Conventions, international, administrative arrangements under.___-------2
Cooper, Mrs. Tommy, case involving.----------------------------- -K----------- SO2-!!
Tommy, case involving. _
_- —’J — _------39^41
319383— 41 ------ 7
92
IN D E X
Page
Cooperation, international. . _____ ____ ________ — ----- . _---------------- _
9
of foreign governments__________ ,____^______ 1_____ __
9
Government of Canada____ ___ _____ __•_____ ______
9
State boards__________ . ___4 _____ - _______________
57
Women’s organizations_____________________________
53
"Cotton” variety of morphine, seizure of________________________ 12, 15, 29
Courts_____________ _’____ _______ ______ ___________ _________ _
54
Cox, Glenn, case involving______________________________
39-41
Crimes associated with marihuana______________ _______ l____ _____ 51-53
Criminal records of narcotic law violators _ _ ____ _._____ ____ ________
55
Crude opium. (See Opium, raw.)
Curacao, smuggling from___________________________________ 10, 15, 23, 24
Customs duties on opium and coca leaves imported__ ________________
1
laws, seizures made under the_____________________________
21
officers, enforcement by th e___ \____________ _______ ____;__
21
D
Dago New, alias (see also Stobble, Thomas)-------------------^ ---------------39-41
Dallas, Texas, drug ring broken at__i---------------------- ----------------------- 39-41
Darling, Melvin Elmer, case involving----------- ------------- -------- ----------38
35
Dashevsky, Alexander, case involving---------------------- __4 -----------------Decrease in drug addiction-------------— ----------------------------------------2-8
Delmundo, seizure ex steamship------------ 1--------------------------------------51
Denial of export authorizations----------------------- ---------------------- ■- ----8
Deportation of aliens__________________ - — ------------------------------ 1) 55-56
Derivatives of opium, production of---------------------------------------------__
63
Detioit, Mich., report on illicit traffic in----------------------------- ----- __—
18
Developments in the trend of the traffic------------- ---------------------------- 15-16
Distribution and trade------------------------------------ i-------------------------- 64-65
District of Columbia Penal Institutions, report showing how addicts are
resorting to substitutes for drugs, and few have withdrawal symptoms.5, 6
District of Columbia, report on the illicit traffic in the------------------------ 4, 19
Diversions_______________________________________
46-49
Dong, Charles, case involving------------- 1------------------- .y------------------38
Don Jose, seizure ex steamship-------------------- — -_T___------- -----------51
Douglas, Arizona, seizure a t--------------- •_--------- ---------------- 10, 42-43, 51
Drug addiction (see also Addiction, drug)----------------------------- - - - - - —
2-8
addicts (see also Addicts, drug)----------------2-8
"clinics” or feeding stations--------------6-8
Drugging of race horses---------------------------------------- 1--------------------45-46
Drugs, manufactured---------------------- J -----------------------------61-65
internal control of____________________
61-63
narcotic, exports of----------- __;----- —
--------------------------------- 8
in-transit shipments of_____ _____ _ . _;— _------------ 8
other----------—
66
thefts of narcotic_____________
__________
58
Dubinbaum, Shama, case involving------------- ----- _________--------------- 39-41
Duty on coca leaves------ --------- — -------- — ----- --------------- ^ ------ —
1
opium---------------------- -------- --------------------- — --------------1
E
Eagle Brand, seizures bearing th e.---------- ---------------------------------- 23, 32-34
Eblen, Robert Lee, case involving----------------------------—
------47-48
IN D E X
93
Page
Educational work___ ____ _ - - ------ ------------ - r r - - - - 53-54
El Paso, Tex., seizures a t - —-.— — ---- -------------- -------fff'mtrji 42-43
Eradication of marihuana_____ ________ ___ 49
Erwin, Clarence, case involving.. ___________ — ______ 32-34
Establishments authorized to import____________________ - _________ 63-64
Examples of seizures---------- --------------1----- --------------___--------------- 22-46
Exchange of information, arrangements for th e ._____ — _
9
Exmouth, seizure ex steamship_____________ •,._•_-r
__— — __
24
Export authorizations, denial of------------------_________----- --------------8
operation of system of________________ r -------8
Exports of cannabis, control of___ _ ------ ------------------ ■
_______ 8-9
— --------- ______
8
narcotic drugs and preparations_____ _
Express, illicit traffic by_________________ ■
----- _-------_______ — _____
45
F
Falsely labeled substances, sale of________m il--—---------- - - - t?■*&.- 12, 43-45
Far East, smuggling from the___ __ — ----------- 11-12, 14, 15, 29-32, 35-37, 50
Federal marihuana law, number of persons serving sentences for violation
‘ of the__ ______ ________ _____ ______ __ 19-21
seizures of vehicles under___________ _________ 56-57
narcotic laws, appropriation for enforcement of------;1
number of persons serving sentences for violation of
the___________________—__________
3 19-21
proposed amendment to ______ — _________-------- 17-18
revenue from application of the____ ___________
1
seizures of vehicles under___ _
— :- -.- 56
officers, enforcement by the- __— _— _- - - ---- ________
21
number of- __ _
__
___- - - v 21
prisons, comparison of narcotic drug law violators with total
population of------ -------- ----- _— - —-------- - — - -----.- - - _:__ 19-21
Feraco, James, alias. (See Russo, James.)
1
Fiber, marihuana grown for ___________---------- __„_____ —
59
Figueroa, Bernabe, case involving.-__ ___■>— ------------------ --------50
Fines, amount of paid_________ ___ ___ — ;_ _ i _____ — . _ _ . _ _ . _ . 4
Forfeiture of seized vehicles____i___----- — ----------------------- - ------- 56-57
Forged labels-------- ----------------------------- ^ — k- - - - - ---- ^_____ ___
43-44
Forms, order, lost or stolen____________X ---------__^ — -- --.----------— 57-58
Fort Worth, Tex., Federal narcotic law violators undergoing treatment in
hospital a t______I t — J0f------------------- - — _—
j
19-21
Fox, Dr. Vernon R., case involving------ --------- ----------- ; t ----- .____---- ,- 47-48
Fraley, Arthur, case involving____---------------------------42-43
French leased territory, seizure of opium allegedly from .--------------_ 23, 24, 26,
32-34, 35-36
Friedman, Max, seizure involving----- --------- --------------------____-------13
G
Gallardo, Jose, case involving--------____.------------ —
----- 42-43
Garden Confection & Biscuit Co., Hong Kong, seizure bearing label of— 23-24
Garrett, Joe Curtiss, case involving___ B------k-.L_i------------ — -----------47-48
Garza, Jose Maria L’., case involving____________ ---------------------------43-44
Gelonida Anti-neuralgica, seizures of_------------- —
:— ------45
Georgia, Savannah, seizure of hashish at__------------------------ ------- -------50-51
Ginsberg, Louis, case involving______ --------------— ------ ___-------—
42
94
IN D E X
Godecke & Co., Berlin, seizures of drugs bearing name of.
Goldbarth, Sidney. (See Newman Brothers case.)
Golden, James John, case involving--------------------------Goldstein, Albert, case involving------------ -----------------Gomez, Jose Benito, case involving--------- - ---------------Gonzalez, Eleutero, case involving----------------------------Gonzalez, Raymundo, case involving---- — ---------------Gordon, Robert, case involving------------- ---------------- :_.
Government of Canada, cooperation of_____________ _.
warehouse, seizure stolen from___________
Green, Cliff, case involving_____________ ____________
Grossberg, Henry, case involving--------- _--------------- __H
Hague Opium Convention of 1912, The---------------------Halper, Irving. (See Newman Brothers case.)
Harms, George A., case involving_______________ ____
Harris, Jesse, case involving----------- --------------------Nelson, case involving------- -------------------------Hawaii, report on scarcity of illicit drugs in___________
Hawaiian Islands, illicit traffic in the_____ _— :i:— _____
Hemp, Indian. (See Marihuana.)
seed, importations of________________________
marihuana grown for_____ _----------- -------production of___ ______________ -----------Heroin, adulteration of________________________
14
illicit traffic in________________H________________ 13—14,28
pills, illicit traffic in_____________________________________S3
prices of__________ _____ ^-------------- ------------------------seizures of________________________________ ____ ______ 13
smuggling of_______________________ I---------/_--------------- 28
Hildebrandt, William. (See Newman Brothers case.)
Hohman, Richard, case involving______________ — 0----------------------Hong Kong, seizure involving residents of_______________ _______ ___
smuggling from________________ _____ __Ji__ 11-12, 15
Honolulu, T. H., report on the illicit traffic in______________________ i
seizure a t_______________________
32-34
Horowitz, Nathan. (See Samuel Bernstein case.)
Horses, drugging of race_____________________
Horton, Edward, case involving______________
Houstdn, Tex., report on the lilicit traffic in____
seizure a t________.____________
Huey, Frank, alias. (See Lum Wah.)
I
Identification numbers on packages_______
Illicit traffic___________________________
analysis of__ _______________
by post, express, railway and air.
effect of war on______________
in Atlantic Coast area_______ _
cocaine___________________
codeine___________________
io
u
n
L9
13
59
59
59
19
42
13
14
43
43
95
INDEX
Page
Illicit traffic in Hawaiian Islands—- - - ------ -— - — '- - 1---------- —U——
Ha
heroin-______- __________ __ ___ __ ___ _ __ 13-14, 28, 39-42
marihuana------ _ _--------------------- - — -14-15, 49—51
morphine______ ——-------- - - - ;----------------------------- 12—13,28
North-South Central area------- ---------------------------- -w- - 39-43
opium and its derivatives, analysis of--------- — - — 16-19
prepared___________ ■
______ _ - - ------------------- - ■10—12
raw (crude)------------- - - - - - — 4-«---------------------- 9-10
Pacific Coast area----- ---------------- *-'••?«3 ^ ^
- ----- 29-38
red heroin p ills --------- ------------ *—
--------- -------13
trend of the-------------------------------------------------------------- 9-53
13
Illinois, Chicago, seizure a t----- ---------------------------------------------------Immigration, amendment of laws on------------------------------------------- - . i
Import and Export Act, Narcotic Drugs, seizures made under theM .-----21
Import certificates, operation of system of------------------------- ------------3
Importations, establishments authorized to m ak e- ——----------------------63-64
limitation of-----------------------— ---------- - - - -----61—62
of cannabis, control---------------------------------------------- coca leavës -------------- ---------------- - -----------control of----- ----------------------- - - — -----®
opium, raw (crude)---------------------- -------------- - -------- i rm*\
control of_-------------------------------°
Indian hemp. (See Marihuana.)
Information, exchange of------ --------------------- - — ------------Internal control of manufactured d r u g s - - - - - - - - ------------- -----------------bl_°"
Internal-revenue narcotic laws, Federal, seizures made under the------------International conventions, administrative arrangements u n d e r -----cooperation------------- - - -------------------------------- ----------trade, control of-------------- -------&------------------------------8
In-transit shipments---------------------------- ----- -------- - — -----------------shipment of cannabis------------------ ---------------- —
45
-25
-37
19
,51
-46
46
19
44
61
4-53
5-19
45
18
2-29
14
14
J
28
12
___ 14,29-32
15
12
___ 29-32
,
29-32
___ 22,51
25-26
________________
- - - 25-26
. - - 24, 50
_
.
46
43
Jackson, John Edwin (see also Samuel Bernstein case)— —
Jitptuij ¿tirosl) of subjects of — — _
smuggling from------------- -Japanese origin, seizures of---------------Seizure ui muipmue ui------seaman, 0 aDe.1 nvu1 v1 .11g ---------steamsmps, case mvuivmg---------seizures involving—---------- ------------------T___ H XlJllWiWU O
r aiiv/ou VA—------Ueilliettj
Jersey Oity, in. J. j seizure a t------------------ Jones, Hja war a x c a s e involving---------K
—
Kansai Maru, seizure ex steamship------------- ----------------------- ------------- - 9 °a
Katzenberg-Lvovsky-Buchalter organization------ --------------------------------- 27 28
Kayne-Gordon. (See Newman Brothers case.)
^
Kayne, Isadore, ease involving---------------------------------------4.-----------------1
96
IN D E X
Page
Kentucky, Lexington, Federal narcotic law violators undergoing treatment
in hospital a t-------------------------------------------- 19-21
Louisville, report on the illicit traffic in------------------------------- 18-19
59
marihuana grown in------- - - - ----- -------------- - - -----------------Kessler, Harry. (See Newman Brothers case.)
Kinoshita, Iwakichi, case of---------------------------- ----- - - --------------- 2, 29-32
39
Klein, George, case involving------------------------- ----------------------------44
Knobles, Mrs. W. L., case involving----------- -----------------------------------Kravitz, Louis, case involving----------------- ------------ ------ ----------------- 27-28
Kwangchow-wan, seizures of opium ostensibly from------ 23, 24, 26, 32—34, 35, 36
L
Label, Eagle Brand, seizures bearing the------------ &--------------------- - 23, 32-34
“Lam Kee,” seizure bearing----- ------------------ -------------- — — - 33, 36
“Lam Kee Macao,” seizure bearing-.---------------------------- 23, 24, 26, 35
Ying,” seizure bearing------------------------------- ----- 23, 32-34
“Lo Fook Kee,” seizure bearing---------------------- — —------ -- 32-34, 36
of Garden Confection & Biscuit Co., Hong Kong, seizure bearing. _ 23—24
of “Rooster and Elephant,” seizure bearing---------------- 11, 23, 24, 35, 36
“Packing Plant Singapore,” seizure bearing--------------------- ------H
Labels, forged________________________ ________________________7- 43-44
“Lam Kee” Brand Opium ostensibly from Government Monopoly Shop in
French Leased Territory of Kwangchow-wan----------------36
“Macao” Brand Opium ostensibly from Government Monop
oly Shop in French Leased Territory of Kwangchow-wan__ 23-24,
26, 35
“Ying” Brand Opium from Government Monopoly Shop in
French Leased Territory of Kwangchow-wan— --------- 23, 32 34
Laredo, Tex., seizure a t--------------- '------------------------------ --------------- 43-45
1
Laws, amendment of immigration------------------------- ;- - ------------ -------and publications----------------------------------------------------- -— -j-~
*
Federal narcotic, number of persons serving sentences for violation
of the_________________________________________________ 19-21
proposed amendment to Federal narcotic.--------------- f------ ---------- 17-18
State narcotic------------------17-18
Leachville, Ark., case involving diversions by registrants a t------------------47—48
Leftak, Jake, case involving---------------------------------- - - - - - ------------------39-41
Legislation, new---------*
proposed new---------------------- - L- - - ----------17-18
to establish “clinics,”news item denouncing-----------------------7-8
Lexington, Ky., Federal narcotic law violators undergoing treatment in
hospital a t------- !---------------------------------------------------------- ----- — 19-21
Licenses, import and export--------------------------------------- ; — ------------revocation of, by State boards------------------------------------------Limitation of importations----------------------------------------------------------- 61-62
manufacture_________________________
61-62
Liss, Moe, case involving-----_4------------------39-41
Little Rock, Ark., case involving diversions by physician a t------------------48-49
“Lo Fook Kee” Brand of Opium ostensibly from Government Monopoly
Shop in the French Leased Territory of Kwangchow-wan._ - - - - - - - 32-34, 36
^
.
OO
Lorber, Abe, case involving. _— ---------- - —- — ---------------------------Los Angeles, Calif., case involving physician a t--------------------------------- 46-47
Lost order forms___________________________
57-58
IN D E X
ge
97
Louisiana, seizures of marihuana at New Orleans__ _______________
51
Louisville, Ky., report on the illicit traffic in ______________ ____ ____ 18-19
Low Bing, arrest of______________________ :_M?i_________ _
,_
23
Lozano, Trinidad, case i n v o l v i n g . ___________________i_________
42-43
Lum Wah, anest of_______ _______________ __1___ ___ ______ __ _
29
Lyon-Bacula organization in France (see Newman Brothers Case)__ ___ 26-27
21
19
59
32
39
44.
28
30
34
36
35
-34
36
-24
36
11
-44
36
24,
35
-34
-45
1
1
-21
-18
-18
-48
^41
1
-18
7-8
1-21
63
57
[-62
L—62
1-41
1-49
1, 36
28
3-47
7-58
M
Mangum, Okla., violation a t. ___________ ___________ _________ \____
'6 -8
Manufacture, limitation of_____________________________
61h62
Manufactured drugs___________________________________
61-i65
internal control of________
61-63
Marihuana, crimes associated with_________________________________ 51-53
eradication______________________________________
49
grown for seeds and fibre___________________________
59
14-15,49-51
illicit traffic in___________________________
law, arrests under____________ _■_______ ,_______________
49
Federal, number of persons serving sentences for violation of the__________________ _________ 1SM21
seizures made under the______ ___ ___;__ 21, 49-51
of vehicles under the______ ____ __ 56-57
violations of_____________________________________
49
prices of____________ ______________ „________________
15
research work on____________________________ _____!__ 59-60
seizures of_____________________________
14-15,49-51
smuggling of__ ____________ _ -________________ 14—15, 50-51
Tax Act, persons registered under_____ __________________
59
Maryland, seizures at Baltimore___________________ _________ Q____
26
19
Massachusetts, Boston, report on the illicit traffic in____ *___ _________
Materials, raw_____________
58-60
Mexican origin, seizures of____ __________
15
Mexico, seizures of opium grown in______________,,________ ____ ___
11
smuggling from_____________ 9-10, 13, 14, 15, 37, 38, 42-44, 45, 50-51
Sonora, seizure of “Veganin” tablets obtained in_____________
14
27-28
Mexis, George L., case involving_______________
Mezzasalma, Salvatore (see Samuel Bernstein Case)__________ : ____ 28-29
Michigan, Detroit, report on illicit traffic in___ ___________ ___^______
18
Miller, Michael, seizure involving___ ____________
13
Minatogawa, Chotaro, case involving.____;__ ___ ______ ____________ 29-32
Mines, Joseph, case of___ §______________________________________
53
39
Minnesota, Minneapolis, arrest a t_____________ _.___________________
Model Administrative Code, adherence to the______________
8
Monge, Manuel, case involving.___!_________________ _____________
37
Monterej7^, case involving steamship_____ _____ - _________ MAlH_____
37
Moonachie, N. J., arrest a t___ §_______ _____
28
Moore, Henry, case involving__ ;______ i.______ V ___ ______ ___ _____ 39-41
Morabito, Daniel, seizure involving____________ J_iS- '-J.
__ |
18
Morphine, adulteration of_________________ ___________________:___
19
Morphine, illicit traffic in________ ____________ (_______________ 12-13, 28
of Japanese “cotton” variety, seizures of_________ ____ ___ 15,29
prices of----------------------- --------------_;e_____________ _ i__
13
seizures of______________________ ^__ ________ - 12-13, 22, 31, 43
Municipal officers, seizures made by___________
21-22
98
IN D E X
Nankai Maru, seizure involving steamship----------------------------------- 22, 29-32
Nariman Maru, Japanese steamship, case involving— kj-------- — ------- - 29—32
Narcotic Drugs Import and Export Act, seizures made under the--------21
law violators, criminal records of------------ --------- — ------------55
recidivism in_______________________________ - 54-55
laws, registrations under--------------- 1— I— ----------- --------- - 64^65; i
officers, enforcement by the-------------------- - - -------— ----------number of-------------------------------------------1-•— - 21
preparations, exports of---------------------------------Narcotics, Bureau of, editorial comment on administration of the---- ----organization of---------- -------------- ------------ — --2
thefts of___________________________ ____ — a-.—
58
Nelson, Dr. Henry John, case against--------------- —
----------5-8
New Jersey, Jersey City, seizure a t------------------------- -------------■-------- 24, 50
Moonachie, arrest a t-----------------------------------------28
Newark, seizure a t-------- ------------ ------------ -----------------15
23
Weehawken, seizure a t-------------New legislation, proposed--------1 1*-18
Newman Brothers Case---------------------------------------------- ----------- 26-27, 42
Charles, case involving--------------------26-27
George, case involving---------------------------------------- — --- 26-27
Harry, case involving-------------------------------------26-27
New Orleans, La., seizure a t----------------------------------------- --------------51
Newspaper comment on legislation to establish “clinics” ---------------------7—8
narcotic situation in Arkansas— -Ja— --------49
New York City, seizure a t_________________ ____ 10, 11, 12, 15, 26, 31, 44, 50
New York, N. Y., report on the illicit traffic in_.__--------------------------19
Nogales, Arizona, seizure a t----------------------------------- -------------- 14, 43, 44, 51
Non-narcotic substances falsely labeled, sale of------------------------— - 12, 43-45
North-South Central area, illicit traffic in the------ JSJ i ----- ---------------- 39-43
Nozima Maru, seizure ex steamship----------------------------------------------51
Number of drug addicts in the United States--------------------------*— - - - 2
Federal narcotic officers--------------------------------- - -- — - 21
persons serving sentences in Federal prisons for violation of the
Federal marihuana law— H— --•--------- -------------W----- — 19-31
persons serving sentences in Federal prisons for violation of the
Federal narcotic drug laws-------------------------------- -------- 19-21
O
Ogata, Mrs. Mineko, case involving-------------------------- ------------ -------- 29-32
4^-5
Oklahoma City, Okla., extent of drug addiction in----------------------------Mangum, violation a t-------------------------------------------- ------5-8
Onuma, Samuel, case involving---------------------------------------- ------------ 29-32
Opium and its derivatives, analysis of illicit traffic in-------------------------- 16—19
Convention of 1912, The Hague— -------------------------------------65
crude (see Opium, raw)-------------------------- - - -----------------------derivatives, production of--------- .----- -----------------------------------63
grown in Mexico, seizures of----------------------------------------------11
pills, prepared, seizure of----------------- %------------------------ - - - 36, 37, 38
•poppy pods, seizures of____________________________ _____ 45
IN D E X
99
P age
Opium prepared____ ■___ ------------------ ^
i
_— 65-66
illicit traffic in____________________________________ 10-12
manufacture of-------------------------■:----------------- -----65
prices of____________________________________
12
seizures of__ :_____________- - -- 10-12, 22-26, 32—38, 44, 66
smoking of__— -------------------- - ---------------------------- 65-66
violations involving------ ----- ------ ___------------------ ---66
raw, control of imports of--------------------------8
establishments authorized to import---------------------------------63-64
illicit traffic in--------------------------------------------------------- -- 9-10
importations of-------------- i------------------------------------------ 9, 58
labeled “Packing Plant Singapore,” seizure of— - - - - - - — __
U
prices in the illicit traffic-------------------------------------------10
revenue from importations of---------------------------------------58
seizures of___________________________ 9, 10, 23-26, 42-43
reserve stocks of________________________
—
0
Order forms, lost or stolen— -------------------------------— 57-58
Organization of the Bureauof Narcotics.--------------------- ----------— —--2
chart showing the-----------------2
Osugi, Koki, case involving---------------------- 1------------------ ------------ -31
Other drugs
-------------- - - - - ------------------ --------- M---- f -------- -—
66
information------- .-------------------------------- ------------ --------- ----- 53-58
questions--------- ------------ - - - ----- — ------- ----------- .----- — •- - 65-66
P
Pacific coast area, illicit traffic in the------- -.— --------— i------------ ----- 29^-38
ports, smuggling into------------------------- _______-------- 15, 29-38
Paint, concealment in--------------------------------------- --------------— ----- 23
Panza, Peter, case involving--------------- - - - ------------ - - - - — — - - -■----45
Paregoric, illicit traffic in----------------------------------- ■
—---.— ------------ - 17-18
17
proposed legislation to restrict use of----______ — --------------Philadelphia, Pa., report on illicit traffic in-------------- - - - - ------- - - - -:----18
Philippine Islands, seizure in the---------------- _______-------,-------- --------- 4<HPm
Phoenix, Ariz., seizure a t------------------------------------ —- —
--------Pills, red heroin, illicit traffic in-------------------------------- ------------------13
Police reports on the extent of drug addiction------------------- - - - :---------2-8
Poppy pods, seizures of opium--------------- -- —
----------------------45
Post, illicit traffic by-------------------------- - - ----------- — -#
45
Prato, Domenico Nicolas, case involving----------—- -------- — ----------- 44
8
Preparations, narcotic, exports of----------------------- -----------T------------Prepared opium. (See Opium, prepared.)
President Cleveland, seizure involving steamship--------------- ------------ -35
Coolidge, seizure involving steamship-----------.i#---------- 32-34, 43
Pierce, seizure involving steamship------------------ -w - -------13, 35, 36
Taft, seizure involving steamship-------------------------- - - -------- 34, 36
Van Buren, case involving steamship------------- -------- '--— '¡fyaH
Prices in the illicit traffic.--------------------- ----------------- ------------- tL1®
of cocaine^:--------- - --------- -•- - -ip--------- - -----------------------------14
heroin___ ----------■-----— • " 14
marihuana. ^ _— ■-■-■----- -----— ---- ----- - - - -- 15
morphine----- ------------ — -------- ------------------------- - ---------13
opium, prepared------------------- -— --------- 1—
----- 12
raw, in the illicit traffic---------------- .--,-V-su— ------------19
100
IN D E X
Page
Prisons, Federal, comparison of narcotic drug law violators with total
population of_______________________________ _______ _________ 19-21
Production.of, opiumderiv atives -------------------------------------------- \----63
Publicatibhs and laws----------------------------------------------------------------1
Public Health Service hospitals, U. S., number of persons undergoing
treatment for drug addiction in the----------------- 19-21
United States, report on the extent of addiction to
cocaine___________________________________
6
Puerto Rico, Mayaguez, seizure a t------------------------------------------------51
Q
Quasarano, Raffaele, case involving-----------------------------------------------
44
R
Race horses, drugging of----------------------- -------------------------------------- 46-46
-------------45
Railway, illicit traffic by—
Rasmussen/Jacob A., case------------------------ .---------------- - - - - ----------24
Raw materials------------------------------- ------------------------------------------- 58-60
opium. (See Opium, raw.)
Recidivism in narcotic law violators-----------------54—55
Reformatory for Women, Federal, at Alderson, W. Va , number of violators
of Federal narcotic laws in the--------------------------------------------- -----21
Registrations under Marihuana Tax Act---- ------------------------------------59
narcotic laws______________ ^-------------------------- 64-65
Report of enforcement by State officers------------------------ — -------------- 21-22
extent of addiction to cocaine--------------- --------------------------6
Reports from police departments on the extent of drug addiction----------2-8
Republic, seizure ex steamship----- ------------------ -----------------------------51
Research work on marihuana---------------------------- --------------------------- 59-60
9
Reserve stocks of opium------------- --------------------- ------------------------- Revenue from application of Federal narcotic laws---- ---------------------1
importations of coca leaves-------_------------------------------- 58-59
opium__________ _ — --------------------58
Revocation of licenses by State boards--------------- ----------- ----------------57
Rhode Island, extent of drug addiction in Providence-------- ----------------4
Rijos, Eligio, case involving-------------- ,------------------------------------------50
Roamer, Jacob, case involving------------------ ------------------------------ -— 39-41
Roberts, Arthur C., case involving_________________________________39-41
Rooster and Elephant, seizure bearing label of----------------- 11, 23, 24, 26, 35, 36
Ross, Dewey, case involving___________ )---------------------------------------- 39-41
Marie, case involving-------------------------------- ----------- ----------- - 39-41
Russo, James, case involving------------------------------ ------------------------- 39-41
S
San Diego, Calif., seizure a t------------------------------------- -------------------- 37-38
Francisco, Calif., report on the illicit traffic in__--------------------------19
seizure a t__________ ______ ___ 10—11, 13, 29-32, 34—36
Sang Cheung, arrest of____________________________________________24-25
Savannah,. Ga., seizure of hashish a t----------------------- -------- -------------- 50-51
Schaffer, Bernard H., case involving________________________________ 39-41
Schiffman, Charles, case involving----------------------------------------------------39-41
INDEX
10 1
Page
Seattle, Wash., Post-Intelligencer article condemning proposed legislation
establishing “clinics”_________________________
7-8
seizures a t__________________________________ 10, 29-32, 36
26
Seizure at Baltimore, Mdl_________________ '___ ______ ___________
Boston, Mass_______________
51
Calexico, Calif ______________________ _______ 9-10, 37, 38, 51
Chicago, 111____ _______________________________ '______
13
Douglas, Ariz___________________________________ 10, 42-43, 51
El Paso, Tex___________________________________________42-43
Honolulu, T. H ______________ ______________ 32-34, 43, 51
Houston, Tex_________
44
Jersey City, N. J ______________________________________24, 50
Laredo, Tex_______________________ __ ________ ;— ----- 43-45
Mayaguez, P. R ______________________
51
Newark, N. J __________
10
New Orleans, La_____ :_____________________________ 51
New York, N. Y_____________________ 10, 11, 12, 15, 26, 31, 44, 50
Nogales, Ariz____ . ___ _____________ _____________ 14, 43, 44, 51
11
Phoenix, Ariz_________________________________________
San Diego, Calif_____ _____
37-38
San Francisco, Calif____________________ _ 10—11, 13, 29-32, 34-36
50-51
Savannah, Ga----------------------Seattle, Wash____________
10,20-32,36
Tacoma, Wash_______________________________
29
Terminal Island, Calif_________ ________________________
51
Wilmington, Calif_____________________________________
51
in the Philippine Islands__________________________________ 10-11
of drugs allegedly purchased from a Chinese in Shanghai--------35
prepared opium pills allegedly purchased from a Chinese in
Hong Kong_____________________________
36-37
prepared opium pills allegedly purchased in Sydney, Australia. _
37
tubes of opium similar to prepared opium tubes packaged by the
British Opium Monopoly in Singapore_______________ 24-25, 34
Seizure of opium from Izm ir._____________________________________
24
Yugoslav opium-------------------10
Seizures and violations_______________________________
21-22
by customs officers___________________________________
15
examples of____ __________________________________ c--------22-46
ex steamships. (See Steamships.)
in the State of Arizona_____________________
— 15
15
California________ __________ :--------------------Texas____________________________ki----------15
involving steamships. (See Steamships.)
of cocaine_______ (s________________ _ __________ 14, 15, 31, 35, 43
codeine___________________ . . _____________________ 14,43,45
drugs labeled Godecke & Co., Berlin_________________
45
La Campana, S. A., Mexico C ity .__ _ — — .—
45
Gelonida Anti-Neuralgica---- --------------------------45
heroin_______ ________________ ____ _________ _____ 13, 35, 43
Japanese origin. _____________________
15
m arihuana...--- -----------------------------------------14-15
medicinal preparations containing narcotic drugs--------------...
45
Mexican origin------------- ----------------------- :— .------ ---------15
102
IN D E X
Page
Seizures of morphine__ :---------------------- ------- - - - - - - - - i------ 12, 13, 22, 31, 43
Japanese “cotton”variety___------ - - ----- ¿ w ----------- 15, 29
opium grown in Mexico.----------------------------11
poppy pods__ _•-----------------------------------45
prepared________________________ 10—12, 22—25, 32—38, 44
raw_____________________________ - 9,10, 23-26,37,42-43
vehicles under marihuana law------ --------------- ------------------56-57
narcotic laws_______________
56
21
Seizures, statement of-------------------------------------------- ----- ------- 81----Shanghai, smuggling from--------- | ---------------------------------------------14, 27, 35
Sheriff’s Association of Texas magazine article regarding marihuana crime
42
Sherman, Louis, case involving------------------------------39-41
Shimizu, Shinjiro, case involving--------------------- ---------------- •- — ------ 29-32
Shiraishi, Shigeo, case involving------ „ --------------------- ---------- >---------29-32
Shoes, concealment in___ __________________________ -¥— - — 8----- 23-24
Sydney, Australia, alleged smuggling from-----------¿L----------- -------------37
Siegel, Jerry, case involving------------------------------------------------39-41
Silk bags, seizure contained in rubberized---------------------------- - - ---------13
Silverwalnut, seizure ex steamship------------------------------ — _—
-----22—23
Singapore Packing Plant, seizure bearing label of----- 1--------------- -------11
seizure in tubes similar to packages of the British Opium Mo
nopoly in_______________________ t-----------4r>---------- 24-25,34
Smoking of opium________________________________________________65-66
Smuggling from Australia----------------------------------------------------- -- —
37
Curacao________________________________ _
10, 15, 23, 24
Far East____________________ 11-12, 14, 15, 29-32, 35-37, 50
Hong Kong________________________ ____ 11-12, 15, 36-37
Japan____________________________
14, 29-32
Mexico_________________ 9-10, 13, 14, 15, 37, 38, 42-44, 50-51
Shanghai_________ | --------------------------------------- 14,27,35
into Atlantic Coast ports_____________ _________ -<Tq-------15
Pacific Coast ports___________________________________ 15,29-38
of cocaine_________________________
35
heroin___________________________________ ,--------- 28, 35,'43
marihuana_______________________________
14-15, 50-51
Spitzer, Albert (see also Newman Brothers case)-------------------------------a 26-27
Stanford, Dr. John M., comments of judge in case of----------- -—
54
State boards______________________________________________
57
Department, cooperation of_____________ _________ _______ -_27
laws, proposed amendment to----------------------- —
--------- — 17-18
21
officers, enforcement by_________________
seizures made by____________________ _______ ----------- 21-22
States which have not passed the Uniform Narcotic Drug Act---------------1
Statistics, general enforcement, statement of________________________
21
Steamship Allister, seizure ex_____________________________________
51
American Press, seizure ex____________________ | -----------51
Argentina, case involving_________ ,>------------------------------50
Black Condor, case involving------- -------------------------------50-51
Delmundo, seizure ex____________________ _____ ________
51
Don Jose, seizure ex---------------------------------------------------51
Exmouth, seizure ex________________________ - ---------------24
Kansai M am, seizure ex__.---------- ---------------------------------51
Monterey, case involving------------------------- --------- — -----37
IN D E X
103
P age
Steamship Nankai Maru, case involving------------__■----------- ---------------29-32
seizure involving_____ -----------------------------22
Nanman Maru, case involving__________—,---------------------29-32
Nozima Maru, seizure ex-------------------------------„
51
President Cleveland, seizure involving---------------- ------------35
Coolidge, seizure involving__________________ 32-34, 43
Pierce, seizure involving____________________ 13, 35, 36
Taft, seizure involving.,..___________ ---------------- 34, 36
Van Buren, case involving----- --------------- --------50
Republic, seizure ex------------51
Silverwalnut, seizure ex___ T----- ----------------------------¡__ 22-23
—
26
Steel Navigator, seizure ex___^-----------Tatuta Maru, seizure ex-----.__--------------- -------- fj.----------- 51
Tosei Maru, case involving._____________ ___ ,A_ _--------- ._ 29-32
Steamships, concealment on------- ----------- 15, 22-24, 26, 29-32, 34-36, 43, 50-51
Steel Navigator, seizure ex steamship------------------------------------ L*-------26
Steelman, Lewis L., case involving------._-------------------------------- 1------ 42-43
Stein, Abe {see also Newman Brothers case)---------- JL . ..— . . .eL .— 26-27
Stobble, Thomas, case involving___________ - - - - - -------39-41
9
Stocks of opium, reserve________________________________ r --.-------Stolen order forms.Li______________________1_----------- c____----------58
Storage of opium------------ ---------------------------- -------- W-----------------9
Substitutes, report on the use of-------------------—----------------------------4-6
System of import certificates and export authorizations, operation of th e ..
8
Tacoma, Wash., seizure a t . ------------- _________----------- —
--------29
Takeda, Shohei, case involving______________________________ __®L_ 29-32
Tatuta Maru, seizure ex steamship_______ _ — _*— ------------- --------51
Taylor, George, case involving______ — ._— §--------- -------------------- 39-41
Texas, Dallas, drug ring broken a t------------------- ’_------ --------------- ----- 39-41
Del Rio, crime associated with marihuana a t------ A ----------52
El Paso, seizure a t_____ — .-TV _-.------^-----r
-------42-43
Ft. Worth, Federal narcotic law violators undergoing treatment in
hospital a t_________ __^— -------------------------------- --------- 19-21
Houston, report on the illicit traffic in------------- -_— --------------19
seizure a t_____^----- -------H___------ — 7- - ------------44
Laredo, seizure a t_____________ _ T
- ---------- <-----43-45
seizures in the State of---- _____----------- -----------------------15
Thefts of narcotic drugs_______________ _T_
-----*-------58
order forms______________i_ --------- ------------------ -----------58
Tirrell, Joseph, case involving________________ _'1____--------------------- 32-34
Tom May Teng, alias. (See Dong, Charles.)
Way Ting, alias. (See Dong, Charles.)
Tosei Maru, Japanese steamship, case involving----------------------------29-32
Trade and distribution------------------------------------------ -;- ----- - - — -- - - 64^-65
international, control of------------------------------- - - - - - —-----------8-9
Traffic, developments in the trend of the----------------------------- -----------15-16
illicit. {See Illicit traffic.)
Transshipment of cannabis ----- - --------------— :
- ---------- - - - 8-9
Transshipments through the United States----------------------------------- ;- 8
Treasury Department, storage of opium by ,the___ ____ - - - - - - - --- - -.-----9
treatm ent foUdrug addiction, number of persons in hospitals undergoing. 19-21
Trend of the illicit t r a f f i c ------ -------------------,---------------------- — 9-53
traffic, developments in the----- ---------------------------- - - — 15-16
104
IN D E X
Page
Trevino, Leopold«, case involving_ ---------- -----------------------~ — - - - ----- 42-43
Tsounias, Yanis, case involving------ ---------- ~~ - ---------------¡g- - ------------- 27-28
-------- ------------^4
Turkish opium, seizure of------ j ------------- ---------------•- - - ■
U
Uniform Narcotic Drug Act------ ------------------- — —
---------------------proposed amendment to----- ---------------------- 17—18
States which have not passed the---------------1
United States, reports on extent of drug addiction in th e __------------- -—
2-8
Public Health Service report on the extent of addiction to
cocaine___________ f---------------------6
Hospitals, number of persons under
going treatment for drug addiction
in the_______ -L_____________ _________ 19-21
V
Varela, Jesus, case involving-------- ---------------------- - - - — - — •— - - - - - - 42-43
Vehicles, seized in connection with violations of the Federal marihuana
law_______________________ ------------------ if ----- ------------- 56-57
seized in connection with violations of the Federal narcotic drug
laws______________________________________________ —
56
Vehicles, value of seized-------------------------------------;----- ------------------- ff 56-57
Veganin tablets, seizures o f_ _ ---------------------------------- - - - - - - - —
14, 43, 45
Veracruz, seizures on vessels from--------------------------- - — - — ---------- 15
Violations, and seizures----------------------------------- -------- ------- ------- - — — 21-22
involving prepared opium------------------------------------------------66
of marihuana law, seizures of vehicles in connection with-------56-57
narcotic laws, seizures of vehicles in connection with--------56
statement of_________________________ ________— - - —- - -------- - —
21
under marihuana law___ ' ------------------^------- ------- - - ---------49
Violators, narcotic law, criminal records of--------------------------- 55
recidivism in narcotic law------------L---------------------- ---------;— 54^55
W
Wada, Yoshimoto, case involving----------------------- ------- -----------------------29-32
Waiss, Dr. Alexander S., case involving-------------- ---------------------- - ------46-47
War, effect of on illicit traffic--------------- - ------------- ---------------- ------- 18
Washington, D. C ., extent of drug addiction in-------- ---------------------4
extent of drug addiction in the State o f - - , - - --------------------2-4
Seattle, seizure at_____________________________ _____________ 10, 29-32, 36
Spokane, crime associated with marihuana at------------ ------53
Tacoma, seizure at------------------- --------------------- ----------- - 29
Weehauken, N . J ., seizure at----------- ------------- ^— --------------------- $3
Weiss, Emanuel, case involving------ ------------------ 1--------------------------- 28, 39~41
West Virginia, Alderson, number of violators of Federal narcotic laws in
the reformatory at___________________________ ‘ ------------------------------- ------21
Wisconsin, marihuana grown in--------------------------------------------------------59
Woman’s Christian Temperance Union, National, Educational work
done by____________________________________ __________ _______ .— ----- ------- 53
Women, number of violators of Federal narcotic laws in the Federal re
formatory for______ — ----------------- --------------------------- --------------- 21
Women’s Clubs, General Federation of, educational work done by---------53
Women’s organizations, cooperation of------------------------------- --------------53
IN D E X
105
l ’âge
Won Ah Lim, case involving________ !________ ___________________________________ 32-34
Wong, Frank, case involving________________ _____________________________________ 32-34
George, alias. (See Lum Wah.)
Kee Cheong, seizure involving____ ____________________
24-25
Kim Keung, case involving_______ _______________________________________
35
May Kwong, case involving________________________________________________37-38
Tommy, alias. (See W^ong Kim Keung.)
Yuen Shee, seizure involving________________________ _________ __________ 24-25
X -Y -Z
Yee Duck Ming, arrest of___________________________________ _ _ _ __________ ______
35
35
Jins M ., alias (see also Yee Duck Ming)______ _____________ _________ _
Tuck Min, alias (see also Yee Duck Ming)________________________________
35
Young, J . C ., arrest of_____________ ___ !_______ ___________________________________
29
Yee Hop, arrest of_________________________________________________________
23
Yugoslavia, seizure of opium lawfully imported from_____________________ 10, 25-26
o
\
TREASURY DEPARTMENT
W a s h in g to n
P re ss S e r v ic e
: No* 2 6 -S 9
FOR IMMEDIATE R E L E A S E ,
^*
W e d n e sd a y , A u g u s t 6 , 1941»
The T r e a s u r y D e p a rtm e n t t o d a y am ended G e n e r a l L ic e n s e N o . 53,
g r e a t l y e x p a n d in g i t s
When f i r s t
scop e o f o p e r a t io n .
is s u e d
on J u l y 1 7 ,
A m e r ic a n
tra d e t r a n s a c t io n s
th e re to ,
in v o lv in g p erso n s in
n a tio n a ls
o f any o f th e
1941, th e lic e n s e
J_ SI •J.-L '^ i
c ju ts inter -
de
and t h e f i n a n c i a l t r a n s a c t i o n s
in c id e n t a l
t h e o t h e r A m e r ic a n r e p u b l i c s who were
c o u n t r i e s w hose a s s e t s h a v e b e e n a r o z e n .
The am ended g e n e r a l l i c e n s e
accord s
s im ila r
p r iv ile g e s
to
c lo c k e d
ii
n a t i o n a l s w i t h i n an a r e a d e s i g n .a
a ttee d a c< 7"n -O " g e n e r a l l y l i c e n s e d trade
a r e a ."
The " g e n e r a l l y l i c e n s e d
a d e ar ea " tas d e f i n e d ,
(1 )
t h e A m e r ic a n R ep i
.i c s ;
(2 )
th e B r i t i s h
r e a lt h o f h a t i o n s ;
G om e
(3 ) t h e U n io n o f S o v :
in c lu d e s :
; S o c i a . l i s t .R e p u b l i c s ;
(4 ) t h e N e t h e r l a n d s E a s t I n d i e s ;
(5 )
t h e N e t h e r l a n d s W est I n d i e s ;
(6 )
t h e B e l g i a n Congo an d R u a n d a - U r u iid i;
(7 )
Gr e U p la n d ; an d
(8 )
Ic e la n d .
As In th e c a se o f i t s
n o t a p p ly t o p e r s o n s
L is t
p red ecesso r,
t h e am ended g e n e r a l lic e n s e
so lo n g a s t h e i r nam es a p p e a r on " ih e Proclaim*
o f C e r t a i n B lo c k e d N a t i o n a l s "
an d w i l l n o t a p p ly to f i n a n c i a l
tr a n s a c tio n s not in c id e n t a l to lic e n s e d tr a d e tr a n s a c tio n s .
-O o O -
TREASURY DEPARTMENT
Washington
A
)
/
¡A*
FOR IMMEDIATE RELEASE,
Press Service
No.
■■■Tue sfey. August 4% 19Al»
±
V
today
amended General License No. 53
3
^ jo aiy-bu greatly expand^its scope of operation.
When first issued on July 17, 1941;the license dealt with inter-American
ml
trade transaction^ and the financial transactions incidental thereto, in
volving persons in the other American republics who were nationals of any
of the countries whose assets have been frozen.
The amended general license
accords similar privileges to blocked nationals within an area designated
as the ngenerally licensed trade area”^
The ”generally licensed trade area” as defined, includes:
(/) the American Republics;
( & the British Commonwealth of Nations;
( M S T the Union of Soviet Socialist Republics;
4
(*»t the Netherlands East Indies;
(r) the Netherlands West Indies;
fn
the Belgian Congo and Ruanda-Urundi;
( » sr) Greenland; and
Iceland.
As in the case of its predecessor, the amended general license will net
apply to persons so long as their names appear on ”The Proclaimed List of
Vgrill not apply to—
f
Certain Blocked Nationals” andJfînancial transactions not incidental to l i c e n s e d ^
trade transactions.ssaMittÉKanamrysbr»
4:
TREASURY DEPARTMENT
W a s h in g to n
POR IMMEDIATE R E L E A S E ,
W ed n esd ay , A u g u s t 6 , 1 9 4 1 ,
P re ss S e r v ic e
No,
16-86
The T r e a s u r y D e p a rtm e n t t o d a y am ended G e n e r a l L i c e n s e N o .
g r e a t l y e x p a n d in g i t s
When f i r s t
scop e o f o p e r a t io n .
i s s u e d on J u l y 1 7 ,
A m erican t r a d e t r a n s a c t i o n s
th e re to ,
1941, th e lic e n s e
d e a l t w ith in te r -
an d t h e f i n a n c i a l t r a n s a c t i o n s
in v o lv in g p erson s in
n a tio n a ls
53,
in c id e n ta l
t h e o t h e r A m e r ic a n r e p u b l i c s who w ere
o f a n y o f t h e c o u n t r i e s w hose a s s e t s h a v e b e e n f r o z e n .
The am ended g e n e r a l l i c e n s e
accord s
s im ila r
n a t i o n a l s w i t h i n an a r e a d e s i g n a t e d a s t h e
p r iv ile g e s
to b lo c k e d
" g e n e r a lly lic e n s e d tra d e
a r e a ."
The " g e n e r a l l y l i c e n s e d
tra d e
a r e a ,"
as d e fin e d ,
(1 )
t h e A m e r ic a n R e p u b l i c s ;
(2 )
th e B r i t i s h
(3 )
t h e U n io n o f S o v i e t S o d a l i s t
(4 )
•f*V
i op N e t h e r l a n d s E a s t I n d i es ;
U-lX
(5 )
th e N e t h e r la n d s W e st I n d i e s ;
(S )
t h e B e l g i a n Congo a n d Rua n d a - U r u n d i;
(7 )
G r e e n la n d ;
(8 )
Ic e la n d .
As in th e c a s e
in c lu d e s :
Commonwea1 1h o f N a t i o n s ;
Repubi
and
of it s
p red ecesso r,
t h e am ended g e n e r a l l i c e n s e w i l
n o t a p p ly t o p e r s o n s so l o n g a s t h e i r nam es a p p e a r on "T h e P r o c la im e d
L is t
o f C e r t a i n B lo c k e d N a t i o n a l s "
an d w i l l n o t a p p ly t o f i n a n c i a l
;r a n s a é t i o n s n o t i n c i± Utili U di l t o l i c e n s e d t r a d e t r a n s a c t i o n s .
-O o O -
5
I s h o u ld a l s o l i k e to c o n g r a t u l a t e and commend
th e tw o r e v e n u e a g e n t s o f th e Incom e l a x J n i t j W a lte r
B o x o n , J r . , and Jo h n F . W i l l i a m s o f Ueurark,^ and th e
s e v e r a l a g e n t s o f t h e A l c o h o l T a x U n i t o f hie B u reau
o f I n t e r n a l R e v e n u e who a i d e d y o u i n t h i s i n v e s t i g a
tio n .
S u c h team w ork i s a n a d d i t i o n a l e x c e l l e n t
e x a m p le o f th e v a lu e d e r iv e d ^ f r o m c o o r d i n a t i o n o f the
T r e a s u r y ’ s e n fo r c e m e n t a c t i v i t i e s , w h ic n we bewail
t o g.0 e t h e r more t h a n s e v e n y e a r s a g o .
The a b i l i t y o f y o u r men t o c o o p e r a t e e f f e c - ^
t i v e l y w i t h o t h e r D e p a r tm e n ts o f th e G overn m en t is^
r e f l e c t e d i n t h e i r r e l a t i o n s d u r in g th e i n v e s t i g a t i o n
an d t r i a l w i t h A t t o r n e y J o s e p h V* B u rn s o f bne l a x
D i v i s i o n o f t ile D e p a r tm e n t 0 1 J u s b i c e , who s e r v e d as
a ^ S p e c i a l A s s i s t a n t t o th e ' A t t o r n e y G e n e r a l^ a n d as
c h i e f G o v e rn m e n t c o u n s e l .
A l l o f u s a r e in d e b t e d to
h im f o r h i s s h a r e 111 tiie e f f o r t t h a t came to a con e l u s i o n w i t h th e im p o s t b io n o f s e n t e n c e on nugus l 1 ,
I n a d d i t i o n t o a num ber o f r a c k e t s , in c lu d in g ^
g a m b lin g , v i c e and h o r s e - r a c e b e t t i n g ,^ c o r r u p t i o n m
c i t v an d c o u n t v c o n t r a c t i n g a l s o c o n t r i b u t e d to th e
in co m e on w h ic h th e d e f e n d a n t f a i l e d t o p a y a _ F e d e r a l
ta x .
I n th e s e r i e s o f c a s e s stem m in g fr o m t h i s i n
v e s t i g a t i o n , t h i r t y - s e v e n o t h e r p e r s o n s a lr e a d y have
b e e n c o n v i c t e d on v a r i o u s c h a r g e s .
As a b y -p r o d u c t
o f y o u r f o u r - y e a r e f f o r t t o c a r r y o u t y o u r own r e
s p o n s i b i l i t y / t h e r e f o r e , y o u s h o u ld be p l e a s e d t h a t
y o u h a v e b e n e f i t e d l o c a l g o v e r n m e n t i n a n o th e r com
m u n it y o f th e U n i t e d S t a t e s .
S in c e r e ly ,
S ig n e d J E e n ^ r y M o r g e n th a u , J r .
S e c r e t a r y o f th e T r e a s u r y .
- - 0 O0 - Turf
UMillilMWt-
I should also lik e to congratulate and comend
the two revenue agents o f the Xnooise Tax U n it, Walter
Boxon, J r . f and John F* Williams of Hewark, and the
several agents o f the Alcohol Tax Unit o f the Bureau
o f Internal Revenue who aided you in th is investiga
tion* Such teamwork is an additional excellent
example o f the value derived fro® coordination of the
Treasury’ s enforcement a c t i v i t i e s , which we began
together more than seven years ago.
The a b i l i t y of your men to cooperate e ffe c
tiv e ly with other Departments o f the Government is
re fle cte d in their r e la tio n s during the investigation
and t r i a l with Attorney Joseph f . Sums of the Tax
D ivision o f the Department or J u s t i c e , who served as
a Sp e cia l A ssista n t to the Attorney General and as
ch ie f Government counsel* A ll of us are indebted to
hi® for h is share in the e ffo r t th at came to a con
clusion with the imposition o f sentence on August 1.
i
In addition to a number of ra ck e ts, including
gambling, vice and horse-race b e ttin g , corruption in
c it y and county contracting also contributed to the
income on which the defendant fa ile d to pay & Federal
tax*.- I n the series o f cases stemming from this in
v e stig a tio n , th irty-seven other persons already have
been convicted on various charges* As a by-product
o f your four-year e ffo r t to carry out your own re
s p o n s ib ility , th erefo re, you should be pleased that
you have benefited lo c a l government in another com
munity of the United States*
S in c e re ly ,
Secretary of the Treasury.
ti
August 5, 1941.
Dear Elmers
The su ccessful termination of the d i f f i c u l t
in vestigatio n into vio latio n s of the income tax laws
by Enoch L. Johnson o f A tla n tic C ity prompts me to
t e l l you again o f my g r a tific a tio n ana pride in the
perseverance and painstaking e ffo r ts in th is case of
the In te llige n ce unit and o f coworkers in the Income
Tax U nit o f the Bureau o f Internal Revenue#
I want you e sp e cia lly to know th a t, in these
days when a l l of us mist give our f i r s t thoughts to
the requirements of the national defense, we are not
overlooking the day~t*>~day fu lfillm e n t o f assignments
which mi d it seem more noteworthy in calmer times*
Culmination of the Johnson case in a period o f heavy
armament expenditures w i l l , i t seems to me, cause the
public generally to regard even more seriously than
they have heretofore the offense o f the Individual
who attempts to evade payment o f his f u l l share of
the cost of Government# I t is for that reason that
I believe the successful prosecution of the charges
in th is indictment is an Important contribution to
national un ity and good government. We have no time
today fo r sh irk ers, and good c itis e n s are lik e ly to
have l i t t l e patience with those who want to share the
p riv ile ge o f citize n sh ip without meeting the re*
sp o n s ib llitle s that go with that p r iv ile g e .
I s h a ll appreciate i t i f you w i l l express my
congratulations and thanks to Sp e cia l Agent William
E. Frank o f Hew York, who had Immediate supervision
o f the Investigation ,an d to Sp ecial Agents Paul F#
Snyder o f Boston, Edward A* H il l of Philadelphia and
John C. Cheasty o f Hew York, the la t t e r two of # 10m
have been ca lle d to a ctiv e duty in the m ilita ry ser
vice#
-
evading*
2
-
For twenty years Johnson held sway over
fee «w
oii io a l
pellet
in his domain^ much the same as Thomas
and <W*e rackets
Pendergast had done at Kansas City, Missouri, befor^^income tax
......
^ . .
n
^
ife'.^JcX*
Ilz.
Vt
a
,..
»In addition to a number of rackets, including gambling,
vice and horse-race betting, corruption in city and county
contracting also contributed to the income on which the defendant
failed to pay a Federal tax,11 Mr. Morgenthau*s letter concluded.
“In the series of oases stemming from this investigation,
thirty-3even other persons already have been convicted on various
charges.
As a by-product of your four-year effort to carry out
your own responsibility, therefore, you should be pleased that
you have benefited local government in another community of the
United States."
V i ^y—v'w.
L &
£
t o
W
'
( X c ^ X u) J i u i
'£—*~~y C*~~
**>T» ^Î2m ^'
^
U4*8^
¿K***
nupllmrotlnyj /Che Intelligence Unit of the Bureau of
Internal Revenue on the successful conclusion of its case
«J../?_ j> *4-^
fa
’
Tir
Va r
against Enoch L. (,,N ù c k y w ) Johnson,
m m m
Jj u ,
^
Jl>annM Secretary Morgenthau
today directed # lettereof appreciation to Elmer L* Irey,
/
Chief of the Unit and Coordinator of the law enforcement
agencies of the Treasury,
BP1to Guy T. Helvering,
of Internal R e v e n u e ^ ' ’* ^ *
jt
A
Commissioner
*
Johnson last Friday was «g*— f a ten-year prison term
and fined 120,000 after a Camden, N* J., Federal Jury found
h i m guilty of evading income tax payments for 1 9 3 6
and 1 9 3 7 «
flCulmination of the Johnson c a s e , 11 Secretary Morgenthau
wrote Chief Irey,
*in a p e r i o d of heavy armament expenditures
will, it seems to me, cause the public generally to regard
even more seriously than they have heretofore the offense of
the individual w ho attempts to evade payment of his full share
of the cost of Government*
It is for that reason that I believe
the successful prosecution of the charges in this indictment
is an important contribution to national unity and good
government*
We have no time today for shirkers, and good citizens
are likely to have little patience w i t h those w h o want to share
the privilege of citizenship without meeting the responsibilities
that go w i t h that p r i v i l e g e * M
The Atlantic City boss was found guilty of cheating the
Government in 193^ and 1937 of 13^» 707*^0 in Income taxes*
In addition to the p r i s o n term and the fine he faces a fraud
penalty of fifty percent of the taxes he was found guilty of
TREASURY DEPARTMENT
Washington
fVfi
FOR RELEASE, M O R N I N G NEWSPAPERS,
Friday, A u g u s t 8, 1941.
8/6/41
-----------------
Press Service
No. 26-90
Lligenoe Unit of the Bureau of
Internal Revenue on the successful conclusion of its case
agencies of the Treasury,
0 Ê ?
to Guy T. Helvering, Commissioner
of Internal R e v e n u e ^
Johnson last Friday was
a ten-year prison term
and fined | 2 0 , 0 0 0 after a Camden, N* J*, Federal jury found
him guilty of evading income tax payments for 1 9 3 6 and 1 9 3 7 «
■’Culmination of the Johnson case,” Secretary Morgenthau
wrote Chief Irey,
11in
a period of heavy armament expenditures
will, it seems to me, cause the public generally to regard
even more seriously than they have heretofore the offense of
the individual who attempts to evade payment of his full share
of the cost of Government*
It is for that reason that I believe
j j
j
the successful prosecution df the charges in this indictment
is an important contribution to national unity and good
government*
j
We have no time today for shirkers, and good citizens j
are likely to have little patience with those who want to share
the privilege of citizenship without meeting the responsibilities j
that go with that privilege•“
The Atlantic City boss was found guilty of cheating the
Government in 1936 and 1937 of 13^»707*^0 in Income taxes*
In addition to the prison term and the fine he faces a fraud
penalty of fifty percent of the taxes he was found guilty of
j
4
TREASURY DEPARTMENT
W a s h in g to n
FOR R E L E A S E , MORNING NEW SPAPERS,
F r id a y , A ugust 8 , 1941.
P re ss S e r v ic e
N o . 2 6 -9 0
5 7 5 7 5 1 -----a------ ’-----------------
Com m ending t h e
R e v e n u e on t h e
In te llig e n c e
s u c c e s s fu l c o n c lu s io n o f i t s
( N u ck y ) J o h n s o n , A t l a n t i c
Iviorgenth.au t o d a y d i r e c t e d
Im y,
U n it o f th e B ureau o f I n t e r n a l
C ity p o l i t i c a l
le tt e r s
c a s e a g a i n s t E n o ch L
le a d e n ,
o f a p p r e c ia tio n
S e c re ta ry
to
E lm er L .
C h i e f o f t h e U n i t and C o o r d i n a t o r o f th e la w e n fo r c e m e n t
a g e n c ie s
o f th e T r e a s u r y ,
In te r n a l R evenue,
Jo h n s o n l a s t
te r m and f i n e d
h im g u i l t y
to
Guy T . H e l v e r i n g ,
C o m m is s io n e r o f
and t o F r a n c i s B i d d l e , A c t i n g A t t o r n e y G e n e r a l
F r i d a y was s e n t e n c e d to
$ 2 0 ,0 0 0 a f t e r
a Cam den, N .
a te n -y e a r p r is o n
J .,
F ed eral
j u r y fo u n d
o f e v a d in g in co m e t a x p a y m e n ts f o r 1936 and 1 9 3 7 .
" C u l m in a t io n o f t h e Jo h n s o n c a s e , " S e c r e t a r y M o r g e n th a u
w r o te C h i e f
w ill,
it
Ire y ,
" in
seem s t o m e,
more s e r i o u s l y
a p e r io d
ca u se th e p u b lic g e n e r a lly
t h a n th e y h a v e h e r e t o f o r e
i n d i v i d u a l who a t t e m p t s
to
is
fo r
fu ll
o f th e
sh are o f
th a t re a so n th a t I b e lie v e
s u c c e s s fu l p r o s e c u tio n o f th e c h a rg e s
an im p o r t a n t c o n t r i b u t i o n
to re g a rd even
th e o ffe n s e
e v a d e p a y m en t o f h i s
th e c o s t o f G o v e r n m e n t .' I t
th e
o f h e a v y arm am ent e x p e n d it u r e s
In t h is
to n a t i o n a l u n it y
i n d ic t m e n t i s
and g o o d g o v e r n m e n t.
o
le
h a v e no tim e t o d a y f o r
lik e ly
to have l i t t l e
th e p r i v i l e g e
t h a t go w i t h
a lt y
p a t i e n c e w i t h t h o s e who w ant t o
i9 3 6
C ity
and 1937 o f $ 3 8 ,7 0 7 .4 0 i n
te r m and t h e f i n e
p e r c e n t o f th e
F o r tw e n ty y e a r s
ra c k e ts
b o s s was fo u n d g u i l t y
th e p r i s o n
of f if t y
in g .
are
sh are
th a t p r i v i l e g e .”
G o v e rn m e n t i n
to
and g o o d c i t i z e n s
o f c i t i z e n s h i p v r it h o u t m e e t in g th e r e s p o n s i b i l i t i e s
The A t l a n t i c
a d d itio n
s h ir k e r s ,
in h is
o f c h e a t i n g th e
in co m e t a x e s .
he f a c e s
a fr a u d pen
t a x e s he w as fo u n d g u i l t y
Jo h n s o n h e ld
In
sw ay o v e r P o l i t i c s
o f - evad
and
d o m a in , much th e same a s Thomas P e n d e r g a s t h a d
done a t K a n s a s C i t y ,
M is s o u r i,
b e fo r e h is
in co m e t a x
e v a s io n s
came t o l i g h t .
1 m'
” I n a d d .i t i o n
v ic e
to a n
num ber o f r a c k e t s ,
and hLors(3 - r a c e b e t t i i g ,
t r a c t in g a Iso
fa ile d
c o n tr ib u te d
to
i n c l u d i n g g a m b lin g ,
c o r r u p tio n in c i t y
th e
and c o u n t y c o n -
in co m e on w h ic h th e d e fe n d a n t
t o p a y a F e d e r a l t a x , " M r; M o r g e n th a u ’ s l e t t e r
” In th e
s e r ie s
o f cases
ste m m in g from , t h i s
sev en o th e r p e rs o n s a lr e a d y
charges.
you have b e n e fite d
U n it e d S t a t e s . ”
in v e s tig a t io n ,
th ir ty -
h a v e b e e n c o n v i c t e d on v a r i o u s
As a b y -p r o d u c t o f you r fo u r - y e a r
y o u r own r e s p o n s i b i l i t y ,
c o n c lu d e d .
e f f o r t to
c a rry out
t h e r e f o r e , y o u s h o u ld be p l e a s e d t h a t
l o c a l g o v e rn m e n t i n
a n o t h e r com m un ity o f th e
^
«<*
P r o m o tio n s
to S p e c i a l A g e n t f / i lli - a m E . F r a n k o f New Y o r k
C i t y , who s u p e r v i s e d t h e i n v e s t i g a t i o n ,
and t o S n e c i a l A g e n t s
Paul F .
S n y d e r , B o sto n ;
P h ila d e lp h ia ,
Jo h n C .
C h e a s t y , New Y o r k C i t y , who p a r t i c i p a t e d , h a v e b e e n
o rd ered .
Edw ard A . H i l l ,
and.
- 4 The t e x t o f th e S e c r e t a r y ’ s l e t t e r
fo llo w s :
tp C h ie f I r e y
A ugust 5 ,
D e a r E lm e r :
The s u c c e s s f u l t e r m i n a t i o n o f th e d i f f i c u l t
i n v e s t i g a t i o n i n t o v i o l a t i o n s o f th e in co m e t a x la w s
b y E n o ch L . Jo h n s o n o f A t l a n t i c C i t y p r o m p ts me to
t e l l y o u a g a i n o f my g r a t i f i c a t i o n and p r id e i n th e
p e r s e v e r a n c e and p a i n s t a k i n g e f f o r t s i n t h i s c a s e o f
th e I n t e l l i g e n c e U n i t an d o f c o w o r k e r s i n th e Incom e
T a x U n i t o f th e B u re a u o f I n t e r n a l R e v e n u e .
I w a n t y p u e s p e c i a l l y t o know t h a t , i n t h e s e
d a y s w hen a l l o f u s mus'c g i v e o u r f i r s t t h o u g h t s to
tn e r e q u ir e m e n t s o f th e n a t i o n a l d e f e n s e , we a r e n o t
o v e r l o o k i n g th e d a y - t o - d a y f u l f i l l m e n t o f a s s ig n m e n t s
w h ic h m ig h t seem more n o t e w o r t h y i n c a lm e r t i m e s .
C u lm i n a t i o n o f th e Jo h n s o n c a s e i n a p e r i o d o f h e a v y
arm am ent e x p e n d it u r e s w i l l , i t seem s to m e, c a u s e t h e
p u b l i c g e n e r a l l y to r e g a r d e v e n m ore s e r i o u s l y th a n
t h e y h a v e h e r e t o f o r e th e o f f e n s e o f th e i n d i v i d u a l
who a t t e m p t s t o e v a d e p a y m en t o f h i s f u l l s h a r e o f
th e c o s t o f G o v e rn m e n t.
I t is fo r th a t reaso n th a t
1
s u c - c e s s i u l p r o s e c u t i o n o f th e c h a r g e s
i n t h i s ^ i n d i c t m e n t i s an im p o r t a n t c o n t r i b u t i o n t o
n a t i o n a l u n i t y an d g o o d g o v e r n m e n t.
We h a v e no tim e
t o d a y f o r s h i r k e r s , and g o o d c i t i z e n s a r e l i k e l y to
h a v e ^ l i t t l e p a t i e n c e .w i t h th o s e who w an t to s h a r e th e
p r i v i l e g e ^ Q f c i t i z e n s h i p w it h o u t m e e t in g th e r e
s p o n s i b i l i t i e s t h a t go w it h t h a t p r i v i l e g e .
I s h a l l a p p r e c i a t e i t i f y o u w i l l e x p r e s s my
c o n g r a t u l a t i o n s a n d th a n k s t o S p e c i a l A g e n t W i l l i a m
E* t r a n k o f New Y o r k , who h a d im m e d ia te s u p e r v i s i o n
o f t h e i n v e s t i g a t i o n , and t o S p e c i a l A g e n t s P a u l F .
S n y d e r o f B o s to n ., Edw ard A . H i l l o f P h i l a d e l p h i a an d
Jo h n C . C h e a s t y o f Wew T o r n , t h e l a t t e r two o f whom
h a v e b e e n c a l l e d to a c t i v e d u t y i n th e m i l i t a r y s e r
v ic e .
- 5 -
^ s h o u ld a l s o l i k e to c o n g r a t u l a t e and commend
th e two r e v e n u e a g e n t s o f th e Incom e T ax U n i t , W a lt e r
B o x o n , J r . , and Jo h n F . W i l l i a m s o f N e w a rk , and th e
s e v e r a l a g e n t s o f th e A l c o h o l T ax U n i t o f th e B u r e a u
o f I n t e r n a l R ev en u e Y/ho a id e d y o u i n t h i s i n v e s t i g a
tio n .
S u c h team w ork- i s an a d d i t i o n a l e x c e l l e n t
e x a m p le o f th e v a lu e ’d e r i v e d fr o m c o o r d i n a t i o n o f th e
T r e a s u r y ’ s e n fo r c e m e n t a c t i v i t i e s , w h ic h we b e g a n
t o g e t h e r m ore th a n s e v e n y e a r s a g o .
T h e ^ a b i l i t y o f y o u r men t o c o o p e r a t e e f f e c
t i v e l y w i t h o t h e r D e p a r tm e n ts o f th e G o v e rn m e n t I s
r e f l e c t e d i n t h e i r r e l a t i o n s d u r in g th e i n v e s t i g a t i o n
a n d ^ t r i a l w i t h A t t o r n e y J o s e p h W. B u rn s o f th e T ax
D i v i s i o n o f th e D e p a rtm e n t o f J u s t i c e , who s e r v e d a s
a S p e c i a l A s s i s t a n t t o th e A t t o r n e y G e n e r a l and a s
c h i e f G o v ern m en t c o u n s e l .
A l l o f u s a r e in d e b t e d to
h im f o r h i s s h a r e i n th e e f f o r t t h a t came to a c o n - e l u s i o n w i t h th e i m p o s i t i o n o f s e n t e n c e on A u g u s t 1
I n a d d i t i o n to a num ber o f r a c k e t s , i n c l u d i n g
g a m b li n g , v i c e an d h o r s e - r a c e b e t t i n g , c o r r u p t i o n I n
c i t y an d c o u n t y c o n t r a c t i n g a l s o c o n t r i b u t e d ^ t o th e
in co m e on W h ich th e d e f e n d a n t f a i l e d to p a y a F e d e r a l
t a x .^ In ^ t h e s e r i e s o f c a s e s stem m in g fr o m t h i s i n
v e s t i g a t i o n , t h i r t y - s e v e n o t h e r p e r s o n s a l r e a d y 'h a v e
b e e n c o n v i c t e d on v a r i o u s c h a r g e s .
As a b ^ - n r o d u c t
o f y o u r ^ f o u r - y e a r e f f o r t t o c a r r y o u t y o u r"o w n r e
s p o n s i b i l i t y , t h e r e f o r e , y o u s h o u ld be p l e a s e d t h a t
y o u h a v e b e n e f i t e d l o c a l g o v e r n m e n t i n a n o t h e r com
m u n it y o f th e U n it e d S t a t e s .
S in c e r e ly ,
( S ig n e d ) H e n r y M o r g e n th a u ,
Jr .
S e c r e t a r y o f th e T r e a s u r y .
- 0 O0 -
TREASURY DEPARTMENT
Washington
Press Service
No# 26-91
FOR IMMEDIATE RELEASE,
Thursday, August 7, 1941»
The Bureau of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the President's
proclamation of the Inter-American Coffee Agreement on April 15, 19 4 1 ,
The following tabulation lists the coffee quotas which have been
A
4
filled, and shows import figures for the quotas now under telegraphic
control as of August 2, 1941.
Total imports under the other coffee
quotas are shown as of July 26, 1941.
Quota Period
: Revised 1/ : Entered for Consumption
Pounds
Country of Production
: Quota (lbs) : As of (Date) :
Quota Period - 12 months
from October 1, 1940s
(Import quota filled)
16,138,333
Dominican Republic
«
tt
»
71,950,208
Guatemala
tt
tt
»
56,484,233
Venezuela
n
n
tt
423,632,012
Colombia
tt
tt
n
26,897,267
Costa Rica
tt
tt
tt
1,250,722,887
Brazil
69,803,737
80,691,799 July 26, 1941
El Salvador
tt
2,035,070
2
,
6
8
9
,7
0
0
Honduras
tt
23,529,798
26,224,775
Nicaragua
9,017,577
10,758,933 August 2, 1941
Cuba
it
19,891,454
20,173,016
Ecuador
H
36,695,453
36,983,708
Haiti
It
3,090,570
3,362,191
Peru
tt
61,502,416
63,880,975
Mexico
Non-signatory countries:
All types of coffee
47,742,641 August 2, 1941
,
4ò,òl2,4w
zi
él
Quota Period - April 22 to
August 31, 1941, incls
Non-signatory countries:
Mocha coffee
______ 2,645.520 August 2. 1941 _ 1.515.286JL
y Quotas increased by inter-Am erican uoiiee soara, as ux ouuo
y Under the terms o f an Executive order, e ffe c tiv e June 14, 1941, the
increased import quota fo r non-signatory countries is subject to tne
a llo ca tio n o f a maximum o f 20,000 bags fo r coffee of the Mocha type
which may be entered fo r consumption from A p ril 21 to August 31,
1 9 4 1 , inclusive#
- cdO o ~
Bufceku ¡c^Custäms.)
if
1
The Bureau of Customs announced today preliminary figures for
imports of coffee subject to quota limitations under the Presidents
¡spurt
proclamation of the Inter-American Coffee Agreement on April 15, 1941
The following tabulation lists the coffee quotas which have been
filled, and shows import figures for the quotas now under telegraphic
to fi
control as of August 2, 1941.
Total imports under the other coffee
quotas are shown as of July 26, 1941*
Quota Period
Country of Production
;
i
Entered for Consumption
Revised 1/ :
Pounds
Quota (lbs) : As of (Date) :
; flOti
Quota Period - 12 months
from October 1, 1940s
Dominican Republic
Guatemala
Venezuela
Colombia
Costa Rica
Brazil
;lie
«try c
(Import quota filled)
16,138,333
71,950,208
56,484,233
423,632,012
26,897,267
1,250,722,887
ti
it
tt
h
it
it
n
it
tt
ft
tt
it
n
it
tt
El Salvador
Honduras
Nicaragua
80,691,799
2,689,700
26,224,775
July 26, 1941
n
Cuba
Ecuador
Haiti
Peru
Mexico
10,758,933
20,173,016
36,983,708
3,362,191
63,880,975
August 2, 1941
Non-signatory countries:
All types of coffee
47,742,641
August 2, 1941
it
it
H
it
it
69,803,737
2,035,070
23,529,798
9,017,577
19,891,454
36,695,453
3,090,570
61,502,416
ata fer
p i Oct
ÉÉican
ita la
«mela
pallia
lostaBici
pii
flSalvadc
■ras
paglia
i
Wor
46,612,407 2 /
Quota Period - April 22 to
August 31, 1941, incls
piato
Non-signatory countries:
1.515.286 2/
Mocha coffee
2,645*520 August 2. 1941
± / Quotas increased by Inter-American Coffee Board, as of June 1, 1941*
2 j Under the terms of an Executive order, effective June 14, 1941, the
increased import quota for non-signatory countries is subject to the
allocation of a maximum of 20,000 bags for coffee of the Mocha type
which may be entered for consumption from April 21 to August 31,
1941, inclusive,
faPeno
fet
P types
-oOo (prepaièedf b y t h e Buraetu jc^ Custcteis)
piato'
Sbotti
IIotas
[lier t]
keasi
MR. SCHWÄR.
Mr.
Mr.
Mr.
Mr.
Bell
Gaston
Sullivi
Graves
Mr. Blough
Mr. Caliate
Mrs. Chase
Mrs. Cordo\
Mr. Delano
Mr. Haas
Mr. Irey
Mr. Larapmar
Mrs. Lucas
Mr. Mayl
To suggest
For prepara
For your in
Please note
TREASURY DEPARTMENT
W a s h in g to n
FOR IMMEDIATE RELEASE *
T h u rsd a y , A u g u st 7 , 1941.
P re ss S e r v ic e
N o , 2 6 -9 1
The B u r e a u o f C u stom s a n n o u n c e d t o d a y p r e l i m i n a r y f i g u r e s
im p o r t s o f c o f f e e
s u b je c t to
fo r
q u o ta l i m i t a t i o n s u n d e r th e P r e s i d e n t ’ s
p r o c l a m a t i o n o f th e I n t e r - A m e r ic a n C o f f e e A g r e e m e n t on A p r i l 1 5 ,1 9 4 1 ,
The f o l l o w i n g
been f i l l e d ,
g r a p h ic
c o ffe e
t a b u la tio n l i s t s
th e
an d shows im p o r t f i g u r e s
c o n tr o l as o f A ugust 2 ,
q u o ta s a r e
1941.
shown a s o f J u l y 2 6 ,
Quota Period
: Revised 1L/
Country of Production____: Quota (lbs)
Quota Period - 12 months
from October 1, 1940:
Dominican Republic
1 6 .13S,333
G-uatemala
7 1 ,9 5 0 ,20 s
Venezuela
5 6 ,1+8 4 ,233
Colombia
4 23 ,6 3 2 ,0 12
Costa Rica
2 6 ,3 9 7 ,2 6 7
Brazil
1 ,250 ,7 2 2 ,2 8 7
c o ffe e
f o r th e
q u o ta s w h ic h h a v e
q u o ta s now u n d e r t e l e
T o t a l im p o r t s u n d e r th e o t h e r
1941.
•___ _______ Entered for Consumption
j_________ As of (Date)
:
pIURds
(Import quota filled)
»
»
it
h
it
it
»
ti
ti
»
h
it
it
it
it
El Salvador
Honduras
Nicaragua
80 ,6 9 1,7 9 9
2 ,689,70 0
2 6 ,2 2 4 ,7 7 5
July 26, 19 41
it
it
6 9 ,8 0 3 ,7 3 7
2 ,0 35,0 70
2 3 ,529 ,79 8
Cuba
Ecuador
August 2, 19 41
it
Peru
Mexico
1 0 .75S,933
20 ,1 7 3 ,0 1 6
3 6 ,9 8 3 ,70 s
3 ,3 6 2 ,1 9 1
6 3 ,8 80 ,9 75
9 .0 1 7 ,5 7 7
1 9 ,8 9 1,4 5 4
3 6 ,6 9 5,4 53
3 ,090,570
6 1 ,5 0 2 ,4 16
Non-signatory countries:
All types of coffee
47,742,641
August 2, 19 41
Haiti
h
h
it
46, 6 12 ,4 0 7 2 /
Quota Period - April 22 to
August 31, 1941, incl;
Non-signatory countries
Mocha coffee
August 2, 1 9 4 1
1 ,515,286 2 /
1 / Q u o ta s i n c r e a s e d b y .I n t e r - A m e r ic a n C o f f e e B o a r d , a s o f Ju n e 1 ,1 9 4 1 ,
2 / U n d er th e te rm s of- an E x e c u t i v e o r d e r , e f f e c t i v e Ju n e 3.4,1941' t h e
i n c r e a s e d im p o r t q u o ta f o r n o n - s i g n a t o r y c o u n t r i e s i s s u b j e c t to
th e a l l o c a t i o n o f a maximum o f 2 0 ,0 0 0 b a g s f o r c o f f e e o f th e M ocha
ty p e w h ic h may be e n t e r e d f o r c o n s u m p tio n fr o m A p r i l 21 to
■ August 3 1 , 1 9 4 1 , i n c l u s i v e .
F
2*645,520
DIVIDEND PAYMENTS TO CREDITORS OF INSOLVENT NATIONAL
BANKS AUTHORIZED DURING THE MONTH ENDED
__ ____________ JULY 31, 1941________________
Nature of
Dividend:
Name and Location of Bank:
Date
Authorized:
Total
Distribution Percentage
Percentage
of Dividends
Authorized:«
of funds by
Dividend
Authorized:
Authorized
Dividends
to Date:
Amount
Number of Claims
Claimants: Proved
58.09756
4,573
$ 3,372,600
207,000
102.79436
9,129
7,409,000
97.0456
2,698
766,900
83.
56
7,170
3,664,600
36,500
105.2 56
2,503
734,500
3.2756
7,400
103.2756
1,000
225,200
4th
8.4756
108,600
41.4756
1,590
1,282,000
2nd
27.6 56
84,200
77.6 56
1,600
304,900
5th
6.4756
128,100
41.47)6
7,002
1,980,100
4th
6.667%
33,228
28.16956
1
498,396
6.43*
Int.
2.79456
6th
7.0456
8th
3*
Int*
5.2 56
Int*
%
:
54,000
109,900
4-1
•
216,800
5th
o
o
The First Nat*! Bank of
Final
Beverly Hills. Calif*
7-17-41
The California Nat*l Bank of
Int.(Partial)7-24-41
Sacramento, Calif*
The First Nat«l Bank of
Final
Canton, Illinois
7-17-41
The Manufacturers NB & Tr,,Go.of
7-16-41
Final
Rockford, Illinois
The First NB of Marshall, Co* at
Plymouth, Indiana
Int.(Partial) 7-26-41
The First Nat*l Bank of
Int. (Pull) 7-23-41
Burlingame, Kansas
The First Nat*l Bank of
Final
Frostburg, Maryland
7-31-41
The First Nat'l Bank of
Final
Preston, Minnesota
7-21-41
First National Bank & Tr.C
Final
7-16-41
Mones3en, Pennsylvania
The Orangeburg Nat*l Bank
Final
Orangeburg, S* Carolina
7-11-41
Number and
TREASURY DEPARTMENT
Comptroller of the Currency
Washington
Press Service
During the month ended July 31» 1941» authorizations
were issued to receivers for payments of dividends in ten insol
vent national banks.
Dividends so authorized will effect total
distributions of $985,728 to 37,266 claimants who have proved
aggregating $20,238,196, or an averave percentage payment
of 4.87%.
The smallest and largest individual dividend percent
ages authorized were 2.794% and 27.6%, respectively, while the
smallest and largest receivership distributions were $7,400, and
$216,800, respectively.
Of the ten dividends authorized seven
were for final dividend payments, two were for partial interest
dividend payments and one was for a full interest dividend payment.
Dividend payments so authorized during the month ended July 31» 1941»
were as follows:
TREASURY DEPARTMENT
C o m p t r o l le r o f t h e C u r r e n c y
Wa s h in go-to n
FOR R E L E A S E , MORNING NEWSPAPERS,
F r id a y , A u gu st 8 , 1941.
P re ss S e r v ic e
N o . 2 6 -9 2
8 7 7 7 4 1 ----------------- ------------
D u r in g t h e m onth en d ed J u l y 3 1 ,
w ere i s s u e d
t o r e c e i v e r s f o r p a y m e n ts o f d i v id e n d s i n
ven t n a tio n a l b a n k s.
d is tr ib u tio n s
D iv id e n d s
so a u t h o r i z e d w i l l
te n i n s o l
e ffe c t to ta l
o f $ 9 8 5 ,7 2 8 t o 37^266 c l a i m a n t s who h a v e p r o v e d
c l a i m s a g g r e g a t i n g $ 2 0 ,2 3 8 ,1 9 6 ,
o f 4 .8 7 % .
1941, a u th o r iz a tio n s
o r an a v e r a g e p e r c e n t a g e paym en t
The s m a l l e s t and l a r g e s t
i n d i v i d u a l d iv id e n d p e r c e n t
a g e s a u t h o r i z e d w ere 2 .794% and 27.6%,r e s p e c t i v e l y , w h ile
th e
s m a l l e s t and l a r g e s t r e c e i v e r s h i p d i s t r i b u t i o n s w ere $ 7 ,4 0 0 ,
$ 2 1 6 ,8 0 0 , r e s p e c t i v e l y .
w ere f o r
O f t h e t e n d i v id e n d s a u t h o r i z e d
Ju ly
seven
f i n a l d iv id e n d p a y m e n t s , tvm> w ere f o r p a r t i a l i n t e r e s t
d iv id e n d p a y m e n ts and one was f o r
m e n t.
a fu ll
i n t e r e s t d iv id e n d p a y
D iv id e n d p a y m e n ts so a u t h o r i z e d d u r in g t h e m onth en ded
31,
and
1 9 4 1 , w ere a s f o l l o w s :
DIVIDEND PAYMENTS TO CREDITORS OE INSOLVENT NATIONAL
BANKS AUTHORIZED DURING THE MONTH ENDED
___________________JULY 51» 19^1______________________
Name and Location of Bank;
Nature of
Dividend:
The First Nat*l Bank of
Final
Beverly Hills, Calif.
The California Nat’l Bank of
Int,(Partial)
Sacramento, Calif.
The First Nat1! Bank of
Final
Canton, Illinois
The Manufacturers NB & Tr. Co. of
Final
Rockford, Illinois
The First NB of Marshall Co. at
Int.(Partial)
Plymouth, Indiana
The First Nat *1 Bank of
Int. (Full)
Burlingame, Kansas
The First Nat’l Bank of
Final
Frostburg, Maryland
The First Nat*1 Bank of
Final
Preston, Minnesota
First National Bank & Tr.Co. of
Final
Monessen, Pennsylvania
The Orangeburg Nat11 Bank
Final
Orangeburg, S, Carolina
Date
Authorized:
Number and
Pe rcentage
of Dividends
Authorized;
Distribution
of funds by
Dividend
Authorized:
Total
Percentage
Authorized
Dividends
to Date:
Number of
Claimants :
Amount
Claims
Proved
3 ,372,60 0
7-17-41
5 th
6 .1+3$ $
216,8 0 0
58.097$
4,573
7-2M+1
Int.
2 .79l+$
207,000
102.791+$
9,129
7,1+09,000
6 th
l.obi
97.0l+$
2,69s
766,900
7 - 16 - 1+1
8 th
3.
$
109,900
S3 ,
i
7,170
3 ,661+,600
7 - 26 - 1+1
Int.
5.2 $
36,500
105.2 $
2,503
734,500
7-23-4-1
Int.
5-zr/>
7,.i+oo
103.27$
1,0 0 0
225,200
7-31-1+1
4+th
8.1+7%
108,600
1+1 .1+7 $
1,5 9 0
1,282,000
7-21-1+1
2 nd
2 7 .6 %
8 l+,20Q
77.-6 $
1,6 0 0
30l+,900
7 - 16 - 1+1
5 th
6 .1+7 $
128,100
1+1 *1+7 $
7 ,0 0 2
1 ,980,100
7 - 1 1 -1+1
1+th
6 .667 $
1
1+98,396
51+.000
33,22s
28 .169 $
$
»
tXXSiL
- 2
Reserve Berks and Branches, following which public announcement will be made by
the Secretary of the Treasury of the amount and price range of accepted bids.
Those submitting tenders will be advised of the acceptance or rejection thereof.
The Secretary of the Treasury expressly reserves the right to accept or reject
any or all tenders, in whole or in part, and his action in any such respect
shall be final.
Payment of accented tenders at the prices offered must be made
or completed at the Federal Reserve Bank in cash or other immediately available
funds on
August 11. 19*11----------- —— •
The income derived from Treasury bills, whether interest or g a m from
the sale or other disposition of the bills, shall not have any exemption, as
such, and loss from the sale or other disposition of Treasury bills shall not
have any special treatment, as such, under Federal tax Acts now or hereafter
enacted.
The bills shall be subject to estate, inheritance, gift, or other
excise taxes, whether Federal or State, but shall be exempt from all taxation
now or hereafter imposed on the principal or interest thereof by any State, or
any of the possessions of the United States, or by any local taxing authority.
For purposes of taxation the amount of discount at which Treasury, bills are
originally sold by the United States shall be considered to be interest.
Treasury Department Circular Ho. 418, as amended, and this notice, p H
scribe the terms of the Treasury bills and govern the conditions of their issue.
Copies of the circular may be obtained from any Federal Reserve Bank or Branch.
&SÜ&.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- NEWSPAPER^,
Friday. August g.
--------•
The Secretary o f the tre a s u ry , hy th is p u b lic n o tic e , in v ite s tenders
fo r frl 00 .Q 00.000
on a discount b a s is under com petitive b id d in g.
be dated
E
or thereabouts, o f ___^ L _-d a y Treasury b i l l s , to be issued
togn.t 13. 3-9^
The b i l l s o f th is series w ill
and w ill mature _
NO’p-ftm'hflr lg
p c
when the face amount will be payable without interest.
I9UI
They will be issued in
bearer form only, and in denominations of *1,000, $5,000, $10,000, $100,000,
^
$500,000, and $1 ,000,000 (maturity value).
{
I is
Tenders will be received at Federal Reserve Banks and Branches up to the
closing hour, two o'clock p. m., Eastern Standard time,
^I
Monday, Aqgttftt 11» liftl -t!
Tenders will not be received at the Treasury Department, Washington.
Each tender | «
must be for an even multiple of $1 ,000 , and the price offered must be expressed
on the basis of 100, with not more than three decimals, e. g., 99.925.
may not be used.
jk
Fractions®
It is urged that tenders be made on the printed forms and for- I ,,
warded in the special envelopes which will be supplied by Federal Reserve Banks
I^
or Branches on application therefor.
Tenders will be received without deposit from incorporated banks and
I ^
trust companies and from responsible and recognized dealers in investment seoun-|
I ml
ties.
Tenders from others must be accompanied by payment of 10 percent o
6
face amount of Treasury bills applied for, unless the tenders axe accompanied hy
an express guaranty of payment by an incorporated bank or trust company.
Immediately after the closing hour, tenders will be opened at the Fe
i i - ? 3
k
I 1
■. 3;
H
FOR R E L E A SE , MORNING NEWSPAPERS,
F r i d a y , A u g u s t 8 , 1 9 4 1 ,______________
TREASURY DEPARTMENT
The S e c r e t a r y
te n d e rs
o f th e T re a su ry ,
f o r $ 1 0 0 ,0 0 0 ,0 0 0 ,
by t h i s p u b l i c n o t i c e ,
or t h e r e a b o u t s ,
.i n v i t e s
o f 9 1 -d a y T r e a s u r y b i l l s ,
t o b e i s s u e d on a d i s c o u n t b a s i s u n d e r c o m p e t i t i v e b i d d i n g .
o f th is
s e r ie s w i l l be d a te d A u gu st 1 3,
The b i l l s
1 9 4 1 , an d w i l l m a tu r e
Novem ber 1 2 , 1 9 4 1 , w hen t h e f a c e am ount w i l l be p a y a b le w it h o u t
in te r e s t.
tio n s
T h ey w i l l b e i s s u e d
o f $ 1 ,0 0 0 , $ 5 ,0 0 0 ,
i n b e a r e r fo r m o n l y ,
$ 1 0 ,0 0 0 ,
$ 1 0 0 ,0 0 0 ,
and in 'd e n o m in a
$ 5 0 0 ,0 0 0 ,
an d $ 1 ,0 0 0 ,0 0 0
( .m a t u r it y v a l u e ) .
T e n d e r s w i l l be r e c e i v e d a t F e d e r a l R e s e r v e B anks an d b r a n c h e s
up t o t h e
c l o s i n g h o u r , tw o o ’ c l o c k p . m . ,
M onday, A u g u st 1 1 , 1941.
E a s t e r n S t a n d a r d t im e ,
T en d ers w i l l n o t be r e c e iv e d a t th e
T r e a s u r y D e p a r tm e n t, W a s h in g t o n .
E a c h t e n d e r m u st b e f o r a n e v e n
m u lt ip le
o f f e r e d m u st b e e x p r e s s e d on t h e
b a s is
o f $ 1 ,0 0 0 , a n d t h e p r i c e
o f 1 0 0 , w i t h n o t m ore t h a n t h r e e d e c i m a l s ,
F r a c t i o n s may n o t b e u s e d .
It
p r i n t e d fo r m s a n d fo r w a r d e d i n
e.
g .,
9 9 .9 2 5 .
i s u r g e d t h a t t e n d e r s b e made on t h e
th e s p e c i a l e n v e lo p e s w h ic h w i l l b e
s u p p l i e d b y F e d e r a l R e s e r v e B an k s or B r a n c h e s on a p p l i c a t i o n t h e r e f o r #
T e n d e r s w i l l be r e c e i v e d w it h o u t d e p o s i t fr o m i n c o r p o r a t e d
b a n k s a n d t r u s t co m p a n ie s an d fr o m r e s p o n s i b l e a n d r e c o g n i z e d d e a l e r s
in
in v e s t m e n t s e c u r i t i e s .
T e n d e r s fro m o t h e r s m u st be a c c o m p a n ie d
b y paym ent o f 10 p e r c e n t o f th e f a c e
fo r ,
u n le s s
am ount o f T r e a s u r y b i l l s
t h e t e n d e r s a r e a c c o m p a n ie d
p ay m en t b y a n i n c o r p o r a t e d b a n k o r t r u s t
2 6 -9 3
by an e x p r e s s
eom p an y.
a p p lie d
g u a ra n ty o f
-
2
-
I m m e d ia t e ly a f t e r t h e c l o s i n g h o u r ,
t e n d e r s w i l l be o p en ed a t the
; F e d e r a l R e s e r v e B anks an d B r a n c h e s , f o l l o w i n g w h ic h p u b l i c a n n o u n c e
m ent w i l l b e made by t h e S e c r e t a r y o f t h e T r e a s u r y o f t h e am ount and
p r ic e ra n g e o f a cce p te d b id s .
T h o se s u b m it t i n g
a d v is e d o f th e a c c e p ta n c e or r e j e c t i o n t h e r e o f .
■'■-he T r e a s u r y
a l l te n d e rs,
t e n d e r s w i l l be
The S e c r e t a r y o f
e x p r e s s ly r e s e r v e s th e r i g h t
t o a c c e p t or r e j e c t
i n w hole o r
a c tio n
s h a l l be f i n a l .
in p a r t ,
and h is
i n an y s u c h r e s p e c t
Paym ent o f a c c e p t e d t e n d e r s a t t h e p r i c e s
m u st b e made o r c o m p le te d a t
o t h e r im m e d ia t e ly a v a i l a b l e
an y o r
o ffe r e d
th e F e d e r a l R e s e r v e B ank i n c a s h or ( ‘
fu n d s on A u g u s t 1 3 ,
1941.
The in co m e d e r i v e d fro m T r e a s u r y b i l l s , w h e th e r i n t e r e s t o r g a i n
ir o n th e s a le
or o th e r d i s p o s i t io n
e x e m p t io n , a s
s u c h , and lo s s
T reasu ry b i l l s
fro m t h e s a l e
s h a l l n o t have any s p e c i a l
Fed eral
t a x A c t s now or h e r e a f t e r
j e c t to
e sta te ,
in h e r ita n c e , g i f t ,
F e d e r a l or S t a t e ,
a fte r
any o f
of th e b i l l s ,
s h a l l n o t have any
or o t h e r d i s p o s i t i o n o f
tre a tm e n t, a s
e n a c te d .
The b i l l s
s u c h , under
s h a l l be su b
or o th e r e x c is e t a x e s ,
w h e th e r
b u t s h a l l b e e x e m p t fr o m a l l t a x a t i o n now o r h e r e
im p o s e d on t h e p r i n c i p a l o r i n t e r e s t t h e r e o f by a n y S t a t e ,
th e p o s s e s s i o n s
a u th o r ity .
th e U n it e d S t a t e s ,
For p u rp oses o f t a x a t io n
T reasu ry b i l l s
c o n s id e r e d
of
are
o r ig in a lly
to be i n t e r e s t .
or
or b y a n y l o c a l t a x i n g
th e am ount o f d i s c o u n t a t w h ic h
s o ld by th e U n ite d S t a t e s
s h a ll be
3
T r e a s u r y D e p a rtm e n t C i r c u l a r N o . 4 1 8 , a s am en d ed , a n d t h i s
n o t i c e p r e s c r i b e t h e te r m s o f t h e T r e a s u r y b i l l s
c o n d itio n s o f t h e ir
is s u e .
C o p ie s
and g o v e r n t h e
o f t h e c i r c u l a r may b e o b t a in e d
fro m a n y F e d e r a l R e s e r v e B an k o r B r a n c h ..
-O o O -
2
their quota status* The acceptance of entries will be authorized in the
order of the time of their presentation within the quota period and quantity
limitation«
If entries for consumption presented at the hours specified for the
opening of the increased quotas on August 11, 194-15 cover quantities of
coffee in excess of the quota limitation for any country, the quantity
which may be admitted to entry within the quota will be prorated on the
basis of the quantity presented for entry*
C^ri)ftrnfl
ftIT
PRESS RELEASE:
The Bureau of Customs announced today that in order to afford equal
opportunities at all customs ports of entry for the filing of entries at
the opening of the increased import quotas for coffee, authorized by the
Inter-American Coffee Board, effective August 11, 1941, the collectors of
customs have been instructed to provide for the simultaneous presentation
on that date of entries for consumption covering coffee the produce of
countries whose current import quotas have been filled.
The increased quota for coffee the produce of Venezuela has already
been exhausted.
Provision will be made at customs ports of entry to
enable importers to file entries for consumption covering coffee the^
produce of the Dominican Republic, Guatemala, Colombia, Costa Rica,„Brazil
and covering coffee, other than Mocha, the produce of countries not signa
tories of the Inter-American Coffee Agreement, at the same instant of time
at the opening of the increased quotas for these countries on August 11,
1941, at 12 noon, Eastern Standard Time, 11 A. M., Central Standard time,
10 A. M., Mountain Standard Time, and 9 A. M., Pacific Standard time.
HO quota priority permits will be granted.
Ho quota status will
attach under the increased quotas on August 11, 1941, by reason of the
arrival of coffee, or the presentation of an entry covering coffee, prior
to that date.
The status of importations of coffee under the increased
quotas will be determined as of the time of presentation, on or after
the opening of the quotas August 11, of an entry for consumption in proper
form at the customhouse in the port where the coffee has arrived.
The customs officer in charge at that port will report telegraph
ally
of Customs the presentation of such entries for advice as to
to the Bureau
U 'w t f ’ l r
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday, August 8, 1941.
8/7/41
Pfess Release
No. 26-94
Inter-American Coffee Board, effective August 11, 1941, the collector! of
customs have been instructed to provide for the simultaneous presentation
on that date of entries for consumption covering coffee the produce of
countries whose current import quotas have been filled.
The increased quota for coffee the produce of Venezuela has already
been exhausted.
Provision will be made at customs ports of entry to
enable Importers to file entries for consumption covering coffee the^
produce of the Dominican Republic, Guatemala, Colombia, Costa Rica,„Brazil
and covering coffee, other than Mocha, the produce of countries not signa
tories of the Inter-American Coffee Agreement, at the same instant of time
at the opening of the increased quotas for these countries on August 11,
1941, at 12 noon, Eastern Standard Time, 11 A. M., Central Standard time,
10 A. M., Mountain Standard Time, and 9 A. M., Pacific Standard time.
HO quota priority permits will be granted.
Ho quota status will
attach under the increased quotas on August 11, 1941, by reason of the
arrival of coffee, or the presentation of dp entry covering coffee, prior
to that date.
The status of importations of coffee under the increased
quotas will be determined as of the time of presentation, on or after
the opening of the quotas August 11, of an entry for consumption in proper
form at the customhouse in the port where the coffee has arrived.
The customs officer in charge at that port will report telegraphical y
to the Bureau of Customs the presentation of such entries for advice as to
s>.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday, August 8, 1941.
B7773I
Press Release
No. P.8-94
- - - - - - - - - - - — --
Tilt Bureau of Customs announced today that in order to
afford equal opportunities at all customs ports of entry for the
filing of entries at the opening of the increased import quotas
for coffee, authorized by the Inter-American Coffee Board,
effective August 11, 1941, the collectors of customs have been
instructed to provide for the simultaneous presentation on that
date of entries for consumption covering coffee the produce of
countries whose current import quotas have been filled.
The increased quota for coffee the produce of Venezuela has
dread} been exhausted.
Provision will be made at customs ports
of entry to enable importers to file entries for consumption
covering coffee the produce of the Dominican Republic, Guatemala,
Colombia, Costa Rica, and Brazil and covering coffee, other than
Mocha, the produce of countries not signatories of the InterAmerican Coffee Agreement, at the same instant of time at the
opening of the increased quotas for these countries on August 11,
1941, at 12 noon, Eastern Standard Time, 11 A. ¥§, Central Standard
Time, 10 A. M . , Mountain Standard Time, and. 9 A. M., Pacific
Standard Time.
2
Mo quota priority permits will be granted.
Mo quota status
will attach under the increased quotas on August 11, 1941, by
reason of the arrival of coffee, or the presentation of. an entry
covering coffee, prior.to that date.
The status of importations
of coffee under the increased quotas will be determined as of the
time of presentation, on or after the opening of the quotas
August 11, of an entry for consumption in proper form at the
customhouse in the port where the coffee has arrived.
The customs officer in charge at that port will renort
telegraphically to the Bureau of Customs the presentation of such
entries for advice as to their quota status.
The acceptance of
entries will be authorized in the order of the time of their
presentation within the quota period and quantity limitation.
If entries for consumption presented at the hours specified
for the opening of the increased quotas on August 11, 1941, cover
quantities of coffee in excess of the quota limitation for any
country, the quantity which may be admitted to entry within the
quota will be prorated on the basis of the quantity presented for
entry.
* XX •
risei, we .hall have taxed them Just at surely aa if we
h a d Xevled on then d l r e o t l y , —
t T ^ W ^ M O f
and we ahaXX etlXX have
defenee to p a y Xatep f r o n ^ a x o e .
An all-out tax program will farta r public morale In
an all-out defense programe
By r e ducing the necessity for
borrowing It will strengthen confidence In the impregnable
/
fiscal position of the Ckwernment.
B y contributing to
the control of price* it will help prevent the demoralir
action wh i c h would result from Inflation.
B y distributing
the defense b u rden^ u l t
It will h e l ^ (ijinlfeitlbn
K
blidm raeaa^fa^dl^satlsfactloTi t hat a rl» « s-^ iea -4ditt_ji&ar•"“'I
hard««« th» taxes -which the few e scape;
fj
|
__
It will make all the people equal partner, loathe defenee
of our country.
'Ml
- 10
At a time when expanding Incomes are operating to force
prices upward« of-Mrc" limited.available.
aCfe^kinds of measures muet he employed if prieee are to
b n kept under control«
Without heavy t a x a t i o n the other
measures have little chance to sueoeed«
1 1 sing prices w o u l d take much more away from our
people n o w and in the future than high e r taxes now will
take«
Under the tax hill in its present form, a married
couple w i t h no dependents, h a v i n g a net income of 15,000
a ye a r will have its Federal income tax increased h y fl 9$ #
or
1J- percent of its incone.
j#
T two-thirde of the family'«
income is spent on items affected h y a changing cost of
living, an Increase in the eoet of living of j £ percent
w o u l d impose as great an additional b u rden on this family
as would the proposed Income tax*
The cost of living index ha*
increased §4 percent Ah 1 owisj e )inn a y u a*). since September
I 94.O«
it le clear from this simple Illustration that
ris i n g prices tax the family income Just as surely as
do income taxes«
A l though as prices rise,
the incomes
/
of some famille« will increase, many income« will not
a n d most incomes will not increase ae fast or as much
as prices«
Ifj in an attempt to protect the incomee o f our people^
we hold down taxes and as a result the eost of living
H Ï
TREASURY DEPARTMENT
WASHINGTON
- 9 a -
As the President suggested to Chairman
Doughton, there should be a provision in the case of
the small taxpayer ’’for a straight, simple payment of
some small contribution to the national tax income
i
through a simple agency and on a simple form."
For such taxpayers a plain and easily
understood table could be provided with the aid of
which the small taxpayer could compute his tsx bill in
a very few moments.
He would be spared time, trouble
and annoyance and the Government would be spared expense.
For taxpayers w i t h relatively large incomes, refine
ments In determining income and computing taxes are
It®
troublesome but are necessary in the Interest of equity.
F o r small taxpayers, however, especially those now t a x e C
fo r the first time, these refinements are cumbersome
and confusing without serving any important purpose*
the income taxes of millions of people can be determined
wit h acceptable accuracy b y less involved method
r *1 ,
ft. .
such taxpayer A’ a ss SpSTi A t ^ l e e o u l d
A---------—----
/\/
Jl
pe provided with.
ai d of w h i % an*thi email t a x p & y e r p o u M Compute his tax §
bill in a very few
would be spared time, 1
......
1
' 'ii
1
trouble a n d tnnoyance and the (tovernmentwf
To indicate more d e a r l y what X have in mind, X
have had prepared a
be worked out in praotj
\A
table, and Improvements and changes will no doubt be
desirable, but it will Illustrate how the proposal can
be applied«
,
The taxes Imposed b y the bill before you are very
heavy;
the taxes of an all-out program would be even
heavier.
X am convinced that the people are not opposed
to heavy taxes, that in fact they favor heavy taxes be~
cause they kn o w that the alternatives are much more onerous*
u
come after deductions*
O n the balance, under rates of
the bill before you, be compute« a surtax at 5 percent*
t h e n he goes b a c k to the Income and deduct« his earned
Income credit.
tax at
On the balance, he computes a normal
percent*
He then adds the normal tax and the
surtax and takes 10 percent of the total for defense tax.
He adds the defense tax to the normal tax and surtax
and finally arrises at his income tax*
When he started to fill out hie return, he m ay have
been full of patriotic enthusiasm to p a y his share toward
the defease p r o g r a m ,# but^ bj the time he^has JTjLnl s
last computationy^bs^wmfwwSWbsii
■Hlrt
i* difficult enough for
persons wit h substantial Incomes who are d e e d to deed*
Lng w l t e TIninoIal papers^*»! iwu a g U l u g ' u o B y u U L l u in« »5
thi*fet»d-to
tneir I U
'the c
per
not be put to
re
Income should
telng elaborate eom=
furthermore, the cheeking of these tax computations
b y the administrative authorities takes tlms*
Frsquent
errors are found w hich must be rectified, requiring cor
respondence and further annoyance of the taxpayer as well
as expense to the doveriiae».%»
UJ
^ J*SUS^ UA^ L ^
U~* %
A
»till enjoy this exemption.
The exemption m e
table end expensive^ in mere normal times«
lnequi-
It cannot he
borne longer in a time like this, end especially if we ere
to Increase the direct tax burdens of persons with smell
incomes«
6m
In its suggestions to the Ways end Means Committee
the Treasury recommended substantial Increases in estate
and gift taxes« and lower exemptions«
In part« this recom-
mandation was followed« but« in my opinion« the estate
and gift taxes should roach more estates and protide more
retenue if we are going to tax smaller incomes«
Those are some of the things that I mea n é when 1 say
that an •all out * tax program for defense must go far
b.?o*4 the present H U .
^
¿¿fcJv
There is another c o n d i t i o n n e lowering the personal
exemptions«
Ms easumI"iswitt'tnue^to take into the income
tax system millions of now taxpayers with small Incomes
without simplifying the wayj| in which their tax is com
puted«
Take» for example» a person with a #900 salary«
Under the present law» he first figures out what dtductions he has —
and so on«
taxes paid» interest paid» contributions
Then he computes his earned Income credit«
Then he subtracts his personal exemptions from his in-
oelved by oaly on* of th«I.
thlo la a discrimination
of vhleh n a y wool thy people have taken advantage by
large gift» of Income n>roduelng property between husband
and
eight State* of th* Union, Federal
Income taxes are made substantially lover than in the
remaining States because the looal lav permits the split*
ting of income between husbands and vires. Here are
Jf| giZ' ;
discriminations against the/lmg^lr^of the taxpayers which,
I bellere your Committee will agree, must be eliminated
if ve are to extend the income tax downward to include
millions of s m
persons with low incomes*
the diecrirai-
nations can be eliminated b y requiring husbandf and wives
to file a single joint return with appropriate relief
granted only where both husband and wife work outside
the home.
b.
For years, the concerns engaged in extracting
certain of our natural resources, notably oil, haws been
granted far greater allowances for depletion than can be
Justified on any reasonable bails of tax equity.
If the
Income tax is to be extended to lower incomes, this
privilege of tax escape should^
5.
be removed.
A few months ago# the Congress eliminated the
tax-exemption privilege from new issues of Federal se
curities«
the purchasers of new State and local securities
MJA*
a relatively large proportion of the population In the
lower Income group© which will not he directly affected
hy the Income tax*
1 further lowering of the exemption«
would produce some additional revenue and In addition it
would give million« of American« an opportunity —
come opportunity p M
rM m
—
a wel
to mafce a direct contribution
through taxes to the defenee of their country.
It would
enable them to feel that they were participating personally
and directly in the defense arogran.
But 1 b e l i e f this Committee will agree with me that
we ought not to accept such sacrifice«» even though willing sacrifices» from mllllo&&wrfw^SXfl5SP**Mmi with low
incomes on whom the burden of other type® of taxes falls
we reach
most heavily» unless liMe^K-ppepe*
In other places ability to pay which Is escaping its fair
share of taxes.
2,
Among those are the followings
The excess profits tax exempts profits of even
the most prosperous corporation» except to the extent
that such profits are In excess of Its average profits
for the years 1936-1939,
Surely Congress will not wish
to Impose additional taxes on millions more of our low
income group» unless ij^also Imposes,)the excess profits
tax on the exempt excess profits of such corporations,
3,
Families pay lower Federal ineom^taxesi w£en
both husband and wife receive Income than w h e n l e
o-Kfl.
il
Q
-
our resources to defense usee*
This complication of in-
j
5
this larger nodded revenue should ©cate from all
sources where there is ability to pay
•all o u t * tax program means*
t h a t 1© what an
The people of this country
hare never been more ready to make sacrifices for the
common good.
Our tax program has not kept pace w i t h
still thinking too much
of helping this group or that to escape its share of
the burden,
tie have n o w come to the point where it is
a matter not merely of fundamental equity, hut of the
utmost necessity that all exemptions from taxation he
reduced to the absolute minimum.
An "all out?1 tax p r o g r a m for defense should reach
ability to p a y at several points not n o w fully tapped*
1.
In my opinion suoh a tax program might well in
vol v e a substantial l o w e r i n g of personal exemptions and
a consequent broadening of the base of the income tax,
if^a
t
T
t
take Immediate steps to remedy
defects in the application of the principle of ability
to pa y in other parts of the tax structure.
Under the
b i l l before y © ^ the base has been broadened to add about
two mill i o n new taxpayers, but even so there will remain
'^ß
fiscal program.
I n the light of the se^ developments^ l a the dl^feqtlcn
«all oat* defense, I should like to point oat what,
In m y opinion, will ho necessary In *all out* taxation
to support such a program*
First of all, we shall need more revenue* m u c h more
revenue.
A
The defense program is an absolute necessity.
It must be paid for*
# J w s M y - p a l d for mow.
Insofar as possible, it should be
Bor r o w i n g should be kept to a
mini m u m to maintain our < & / & & & ' fiscal strength.
The
rise In the Federal debt l^erely/means^ that the taxpayer*s
b u r d e n Is be i n g postponed— that b o t h principal and inter
est must be paid later out of higher taxes collected at
a time when they m a y be h a rder to p a y and less willingly
p a i d than now*
A l o n g w i t h Inorsastd taxation should go the maximum
red u ction in the ordinary non-defense expenditures of
Government.
The burden of paying f or defease is so heavy
that it should bs relieved at every possible point*
Increased taxation Is nssdsd also to maintain eco
nom i c stability.
R i sing purchasing po w e r is exerting
increa s i n g pressure on tho prleoe of m a n y kinds of goods,
w h i l e at the same time production of the so goods Is being
increasingly curtailed by the necessity of diverting a s
on
19 ^ 1 income and profit« are going to b ^ since
seven months of the year have already elapsed,
mtm"
The ex-
else taxes and the estate tax eannot be Imposed retroactively
and every d a y 1« delay in the passage of this tax bill costs
the Treasury several m i l l i o n dollars in revenue from those
sources.
The rapid developments of the last few months have
made this bill inadequate even before it is passed.
Since
m y statement before the bays and Means Committee, many
things have happened.
Two and one half months a g o ^ the
President proclaimed the existence of an unlimited
national emergency.
Me called upon “all loyal citizens
to place the n a t i o n 1s needs first in mi n d and in action
to the end that we may mobilise and have ready for instant
defensive u s e ^ all of the physical power, all of the moral
strength^ and all of tho natural resources of this nation,*
Sines X appeared before the bays a n d Msans Commlttse,
the amount of appropriations, authorisations and recom
mendations over and above the Budget has Increased by
about $lh,000,000,000, thus completely changing the fis
cal picture and greatly increasing the need for revenue,
Slnoe X appeared before the bays and Means Commlttse,
prices and the cost of living have increased at an ac
celerated rate, thereby accentuating the need for a strong
4
flciMt t t o v m j / M y purpose in toning here today In to discuss
taxation as an nsnnntlal p a r t of national defense.
Our
great protolnn In providing for the defense of the nation
Is fundamentally the protolnn of production —
of actually
b ui l d i n g planes and tanks, ships and guns w i t h labor,
management, machinery a n d r a w materials.
To solve that
i
r e t e sting our-coanamt c
in stitutions), our fiscal
pol l o y must toe adapted to the needs of the times.
On April 2 4 / X discussed wit h the Ways and Means
Committee of the B o u s e / the need of producing #3,500,000,000
annually In additional revenue.
The Treasury Department
pre s e n t e d a suggested prog r a m for raising that amount of
m eyr'in«»
As It Jts--too f onc-ry£vift A* wi l l produce approxlmat e l y #3,200,000,000 a n nually in additional revenue.
m y opinion,
In
It Is ve r y Important that the revenue yield
toe raised to at least the original # 3 .5 billion level.
It Is also Important that the bill toe passed as promptly
as possible.
Income taxpayers and excess profits tax
pay e r s should know as quickly as possible what their taxes
Statement of Secretary Morgenthau
Before the Senate Finance Committee
August 8, 1941,
My purpose in being here today is to discuss taxation
as an essential part of national defense.
Our great problem
in providing for the defense of the nation is fundamentally
the problem of production —
of actually building planes and
tanks, ships and guns with labor, management', machinery and
raw materials.
To solve that problem without impairing our
economy
O or weakening
O the structure of democracy,
V ' our fiscal
policy must be adapted to the needs of the times.
On April 24 I discussed with the Ways and Means Committee of the House the need of producing $3,500,000,000
annually in additional revenue.
The Treas ury Department
presented a suggested program for raising that amount of
money.
As it passed the House, this bill will produce
approximately $3,200,000,000 annually in additional revenue.
In my opinion it is very important that the revenue yield
be raised to at least the original $3.5 billion level.
It
is also important that the bill be passed as promptly as
possible.
Income taxpayers and excess profits taxpayers
should know as quickly as possible what their taxes on
1941 income and profits are going to be, since more than
seven months of the year have already elapsed.
The excise
taxes and the estate tax cannot be imposed retroactively
and every dayTs delay in the passage of this tax bill costs
26-95
the Treasury several million dollars in revenue from those
sources.
The rapid developments of the last few months have made
this bill inadequate even before it is passed.
Since my
statement before the Ways and Means Committee, many things
have happened.
Two and one half months ago the President
proclaimed the existence of an unlimited national emergency.
He called upon "all loyal citizens to place the nation1s needs
first in mind and in action to the end that we may mobilize
and have ready for instant defensive use all of the physical
power, all of the moral strength and all of the natural re~
sources of this nation."
Since I appeared before the Ways and Means Committee,
the amount of appropriations, authorizations and recommendations
over and above the Budget has increased by about $14,000,000,000
thus completely changing the fiscal picture and greatly
increasing the need for revenue.
Since I appeared before the Ways and Means Committee,
prices and the cost of living have increased at an accelerated
rate, thereby accentuating the need for a strong fiscal
program.
In the light of these and other developments resulting
from "all out" defense, I should like to point out what, in
my opinion, will be necessary in "all out" taxation to support
such a program.
_ O
Q _
First of all, we shall need more revenue — much more
revenue.
The defense program is an absolute necessity.
It must be paid for.
for now.
Insofar as possible, it should be paid
Borrowing should be kept to a minimum to maintain
our fiscal strength.
The rise in the Federal debt means
merely that the taxpayers burden is being postponed —
that
both principal and interest must be paid later out of higher
taxes collected at a time when they may be harder to pay
and less willingly paid than now.
Along with increased taxation should go the maximum
reduction in the ordinary non-defense expenditures of
Government.
The burden of paying for defense is so heavy
that it should be relieved at every possible point.
Increased taxation is needed also to maintain economic
stability.
Rising purchasing power is exerting increasing
pressure on the prices of many kinds of goods, while at the
same time production of these goods is being increasingly
curtailed by the necessity of diverting our resources to
defense uses.
This complication of increased demand and
restricted output is causing inflationary price rises which
threaten to increase the cost of the defense program, •unbalance
family budgets and seriously disturb our economic life.
This larger needed revenue should come from all sources
where there is ability to pay -- that!s what an ’’all out”
- 4 -
tax program means.
The people of this country have never
been more ready to make sacrifices for the common good.
Our
tax program has not kept pace with the defense program.
We
are still thinking too much of helping this group or that
to escape its share of the burden.
We have now come to
the point where it is a matter not merely of fundamental
equity, but of the utmost necessity that all exemptions
from taxation be reduced to the absolute minimum.
An "all out” tax program for defense should reach
ability to pay at several points not now fully tapped:
1.
In my opinion such a tax program might well involve
a substantial lowering of personal exemptions and a consequent
broadening of the base of the income tax, if simultaneously
we take immediate steps to remedy defects.in the application
of the principle of ability to pay in other parts of the tax
structure.
Under the bill before you, the base has oeen
broadened to add about two million new taxpayers, but even
so there will remain a relatively large proportion of the
population in the lower income groups which will not be
directly affected by the income tax.
A further lowering of
the exemptions would produce some additional revenue and in
addition it would give millions of Americans an opportunity
a welcome opportunity —
to make a direct contribution tnrough
taxes to the defense of their country.
It would enable them
to feel that they were participating personally and directly
in the defense program.
As the President wrote to Chairman
Doughton on July 31, 1,Most Americans who are in the lowest
income brackets are willing and proud to chip in directly
even if their individual contributions are very small in terms
of dollars."
But I believe this Committee will agree with me that
we ought not to accept such sacrifices, even though willing
sacrifices, from millions of people with low incomes on whom
the burden of other types of taxes falls most heavily, unless
we reach in other places ability to pay which is escaping
its fair share of taxes.
2,
Among these are the following:
The excess profits tax exempts profits of even the
most prosperous corporation, except to the extent that such
profits are in excess of its average profits for the years
1936 - 1939.
Surely Congress will not wish to impose
additional taxes on millions more of our low income group,
unless it also imposes the excess profits tax on the exempt
excess profits of such corporations.
3.
Families pay lower Federal income taxes when both
husband and wife receive income than when the same total
amount of income is received by only one of them.
This is
a discrimination of which many wealthy people have taken
-
6
-
advantage by large gifts of income-producing property between
husband and wife.
Furthermore, in at least eight States of
the Union, Federal income taxes are made substantially lower
than in the remaining States because the local law permits
the splitting of income between husbands and wives.
Here
are discriminations against the rest of the taxpayers which,
I believe your Committee will agree, must be eliminated if
we are to extend the income tax downward to include millions
of persons with low incomes.
The discriminations can be
eliminated by requiring husband and wife to file a single
joint return with appropriate relief granted only where both
husband and wife work outside the home.
4.
For years, the concerns engaged in extracting certain
of our natural resources, notably oil, have been granted far
greater allowances for depletion than can be justified on
any reasonable basis of tax equity.
If the income tax is
to be extended to lower incomes, this privilege of tax escape
should simultaneously be removed.
5.
A few months ago, the Congress eliminated the tax-
exemption privilege from new issues of Federal securities.
The purchasers of new State and local securities still enjoy
this exemption.
The exemption was inequitable and expensive
even in more normal times.
It cannot be oorne longer in a
time like this, and especially if we are to increase the
direct tax burdens of persons with small incomes.
6.
In its suggestions to the Ways and Means Committee,
the Treasury recommended substantial increases in estate and
gift taxes, and lower exemptions.
In part, this recommendation
was followed, but, in my opinion, the estate and gift taxes
should reach more estates and provide more revenue if we are
going to tax smaller incomes.
Those are some of the things that I mean when I say that
an ”all out” tax program for defense must go far beyond the
present bill.
There is another condition which I would attach to lower
ing the personal exemptions. . I think we ought not to take
into the income tax system millions of.new taxpayers with
small incomes without simplifying the way in which their tax
is computed.
Take, for example, a person with a $900 salary.
Under
the present law, he first figures out what deductions he
has -- taxes paid, interest paid, contributions and so on.
Then he computes his earned income credit.
Then he subtracts
his personal exemptions from his income after deductions.
On the balance, under rates of the bill before you, he
computes a surtax at 5 percent.
Then he goes back to the
incomb and deducts his earned income credit.
he computes a normal tax at 4 percent.
On the balance,
He then adds the
-
8
-
normal tax and the surtax and takes 10 percent of the total
for defense tax.
He adds the defense tax to the normal tax
and surtax and finally arrives at his income tax.
When he started to fill out his return, he may have
been full of patriotic enthusiasm to pay his share toward
the defense program, but by the time he has finished his last
computation his cheerfulness may well have collapsed under
the strain.
It is difficult enough for persons with substan
tial incomes who are used to dealing with financial papers
and who can afford high-priced lawyers and accountants to
make their computations for them.
The person with a small
income should not be put to this annoyance and possible
expense.
Furthermore, the checking of these tax computations by
the administrative authorities takes time.
Frequent errors
are found which must be rectified, requiring correspondence
and further annoyance of the taxpayer as well as expense to
the Government.
We in the Treasury do not enjoy pestering
the taxpayer any more than he enjoys being pestered by us.
For taxpayers with relatively large incomes, refinements
in determining income and computing taxes are troublesome
but are necessary in the interest of equity.
For small tax
payers, however, especially those now taxed for the first
- 9 time, these refinements are cumbersome and confusing without
serving any important purpose.
The income taxes of millions
of people can be determined with acceptable accuracy by
less involved methods.
As the President suggested to Chairman Doughton, there
should be a provision in the case of the small taxpayer
”for a straight, simple payment of some small contribution
to the national tax income through a simple agency and on a
simple form.”
For such taxpayers a plain and easily understood table
could be provided with the aid of which the small taxpayer
could compute his tax bill in a very few moments.
He would
be spared time, trouble and annoyance and the Government
would be spared expense.
To indicate more clearly what I have in mind, I have
had prepared a sample table showing how this might be worked
out in practice for incomes up to $3,000.
This is only a
preliminary table, and improvements and changes will no
doubt be desirable, but it will illustrate how the proposal
can be applied.
The taxes imposed by the bill before you are very heavy
the taxes of an all - out program would he even heavier.
-
10
*
I am convinced that the people are not opposed to heavy taxes,
that in fact they favor heavy taxes because they know that
the alternatives are much more onerous.
At a time when
expanding incomes are operating to force prices upward
many kinds of measures must be employed if prices are to be
kept under control.
Without heavy taxation, the other
measures have little chance to succeed.
Rising prices would take much more away from our people
now and in the future than higher taxes now will take.
Under
the tax bill in its present form, a married couple with no
dependents, having a net income of $5,000 a year, will have.
its Federal income tax increased by $198, or 4 percent of
its income.
Assuming that two-thirds of the family’s income
is spent on items affected by a changing cost of living, an
increase in the cost of living of 6 oercent would impose as
great an additional burden on this family as would the pro
posed income tax.
The cost of living index has increased
5-1/2 percent since September, 1940.
It is clear from this
simple illustration that rising prices tax the family income
just as surely as do income taxes..
Although,, as prices rise,
the incomes of some families will increase, many incomes will
not increase and most incomes will not increase as fast or
as much as prices.
* II
-
If, in an attempt to protect the incomes of our neonie.
we hold down taxes and as a result the cost of living rises,
we shall have taxed them just as surely as if we had levied
on them directly —
and we shall still have the inflated
costs of defense to pay later from taxes.
An all-out tax program will build public morale in an
all-out defense program.
By reducing the necessity for
borrowing, it will strengthen confidence in the impregnable
fiscal position of the Government.
By contributing to the
control of prices, it will help prevent the demoralization
which would result from inflation.
By distributing the
defense burden fairly, it will help unite the nation.
It
will make all the people equal partners in sharing the cost
of the defense of our country.
-o0o~
ILLUSTRATIVE SCHEDULE OF FEDERAL INCOME TAXES
For Individuals w ith Total Incomes o f Less than $3,000
K
n
If your total
income i8 :
Prom
To
o
w
Y o u r
T a x e s
Your tax is:
Single ferried
person* person*
.
mm
751
$750
775
$1
-
776
800
2
-
*1
825
SOI
826
850
851
875
876
900
901
926
925
951
975
976
950
1,0 0 0
1,051
1,0 2 5
1,0 5 0
1,0 7 5
1,0 7 6
1,100
1,0 0 1
1,0 2 6
1,10 1
1,12 6
1,151
1,176
1,201
1,2 2 6
1,2 5 1
1,2 7 6
1,3 0 1
1 ,3 2 6
1,3 5 1
1 ,3 7 6
1,12 5
1,15 0
1,17 5
1,200
1 ,2 2 5
1,2 5 0
3
5
7
9
11
13
15
17
-
-
-
* 2 ,2 5 1
* 2 ,2 7 5
*12 6
*59
64
65
2
2,2 7 6
2,300
128
6l
2 ,3 0 1
2 ,3 2 6
130
132
63
65
1,6 0 1
1,6 2 6
1,6 5 1
1,6 7 6
1,6 2 5
1,6 5 0
1,6 7 5
1,7 0 0
70
6
2 ,3 2 5
2,350
2 ,3 7 5
134
68
73
75
77
7
3
10
2,400
136
70
2,401
2,425
1,7 0 1
1,7 2 6
1,7 5 1
1 ,7 7 6
1 ,7 2 5
1 ,7 5 0
1 ,7 7 5
2,450
2,475
2,500
72
74
76
79
81
2,4 26
2 ,4 5 1
2,4 76
139
l4l
143
145
78
2 ,5 2 5
2,550
147
l4g
80
82
1,S01
1,826
1,825
2,575
15 1
1,850
2 ,5 0 1
2 ,5 2 6
2 ,5 5 1
2 ,5 7 6
2,600
153
85
87
1,851
1,^75
1,8 7 6
2 ,6 0 1
2,626
2 ,6 5 1
2,6 76
2,625
2,650
2 ,7 0 1
2 ,7 2 6
2 ,7 5 1
2,7 7 6
2,725
2,750
68
3
4
1,800
83
85
12
14
16
19
21
2 ,3 5 1
2 ,3 7 6
-
100
102
-
2,001
2,051
2 ,0 2 5
2,050
2,0 75
10 5
10 7
109
2,0 76
1 2,100
111
2,101
2 ,1 2 5
2 ,1 5 0
2 ,1 7 5
46
2,200
113
115
117
119
53
2 ,9 0 1
2,9 26
2,201
2,225
12 2
2 ,2 2 6
2 ,2 5 0
1 24
55
57
2,951
2,976
1,375
l,4oo
k9
-
1,5 0 0
•1
1,975
2,000
1,325
1,350
1,475
*62
1,5 2 6
1,5 5 1
1,5 7 6
11,5 2 5
1 ,5 5 0
1,5 7 5
1,6 0 0
1,951
1,976
—
2,026
2 ,1 2 6
51
2,151
2,176
-
Married
person*
*1 , 5 0 1
29
31
33
36
45
1,4 5 1
1,4 7 6
Single
person*
96
98
43
1,450
To
To
1,925
1,950
1,3 0 0
53
56
58
60
Prom
Prom
1,9 0 1
1,9 2 6
-
1,275
1,425
Your tax is:
1,9 0 0
39
4l
1,401
1,426
Single ferried
person* person*
If your total
income is:
23
25
27
28
36
Your tax is:
-90
92
94
26
30
32
34
If your total
income 1s :
-
19
22
2^
—
3«
4o
42
W-
48
50
2,801
2,826
2,851
2,876
2,675
2,700
15 6
15 8
160
16 2
164
89
91
93
95
172
97
99
102
lo4
174
106
2,875
177
180
2,900
183
108
110
112
2,925
2,950
2,975
186
114
189
192
116
2,775
2,800
2,825
2,850
3,000
166
169
195
119
12 1
use the b alance to
* 3'or each depend .ent, subtract $**00 from your total Income and
dLeterm in e your tax.
notes The taxes in the above schedule, which is purely illustrative, were calcuiated on th«
assumptions: personal exemption for single person, $750 and for married persons, $1,500, rates the same
a s in H R <5417* tax for each income block is the average of the tax on the lower and upper limit of
the block!’reduced by 10 percent as a rough equivalent for deductions from income; and the tax is shown
to the nearest dollar.
3
I
The neasure hefore yoU|Con*tituteli thè largest tax «et I»
history.
The Committee on Ways and Meane ha« laboreà on it assid-
uously and conscientiously for thè past 3-1/2 noaths.
Sene bave
criticlseà thie bill ae eeTere hat our preeeat national perii
requlree aany sacrifico«. thè severity of thie bill 1« minor
when compareà to thè severity of ether saerificee whlch are cheerfally vide hy our citisene, dt a timo when aany men are heiag
ealled egea te ferego gaiafhl oecupations to eater our armed force«
fer a remuneraiion of $21 per aonth and at a tiae when it hae hecome
neeeseary to extead thelr period of Service, thoee citizens in elvilian life vili, 1 «a euro, cheerfolly moke thè eontrlhutlons ealled
for under thie bill and will he ready to nake even greater contritetlone if it heeoaee neeeseary*
I
m
-
12-
Th.e proposed tax has no relationship to the extent of use or
the value of the object taxed, and» tnerefore, is unusually
inequitable.
It taxes a $5,000 town car exactly the same $5 as
the fifth-hand car worth only $20.
This proposed use tax must
be collected from 32,000,000 taxpayers located im every State
and county in the country.
This w5S£"^require an additional
personnel in the Bureau of Internal Revenue of at least 3,800.
The administrative cost.uiAl.be $9.6 millions or approximately
N-.
f\
$6 per $100 of tax collected, which is more than five times the
O-UAVvv*--
average cost of collecting other taxes.
eJ^CT
■fco yield
trl«dk.
This^tax is estimated
^
$160 millions.
Contract these figures with
those pertaining, for example, to the gasoline tax.
That tax,
yielding $343 millions, is collected by 15 internal revenue
employees.
In this regard it ffljsei oe noted that to the average
motorist who travels 10,000 miles annuallj^ the use tax is
equivalent in burden to a l/2 cent gasoline tax.
cüw^^ML^t^ tÿgss annual yield
Aa „^nn.tbp.r
tAfti.is $698 millions ^
a^cUfcàÉts is collected by 88 internal revenue employees.
An
increase in either the gasoline tax or the tobacco tax, more
over, would not require any additional personnel.
J
Ult
u
-
She offestive administration of a geaers^ialss t|x mould
©quir^th® <|r4atlon ©f an elaborate adninistriaive striare smtailend expense than Is marraated/Ìf the sales taxis to
soures of revenue only daridg the em^genoy tarried.
<
Jr
' ': f
' ' Jr-
»sition of a general sale#" tax onj^o existing
federal excise^mpUid add to the /omplexitp of the ferrai tax stre
ttir* and unlesjfWesent excitajtwere exempt from tjpf general li
some of the
She use
of
this compìieation and
selected-excises a1
es possible
fitting the rates of
coffimodity toore nearly
market situations aa:
affeet^f by the defense program.
its peculiar
e fiscal con: Cot Involved in the imposition
a federal/sales «ax ia(addition t^existing State and local sales
taxes coxite minimised by ^ho proper selection of excises.
»re tèchnical\reasons, the treasury he
llev/s it is inadvisable to
rn general sales tax and risk busi-
\o
r
/\
fed1uecaeitm -ia ^ddX t i om ter m m w is ing
d ls lc r W iu tte
*
\
t the same time, the treasury does not
approve all the excises Incorporated in the present bill
dUyO^rM^1-
iaaa mot
ularly, it daaa
m t0k
f&rtle-
the proposed five dollar use tax on every
motor vehicle*
this tax mill conflict directly with one of the most important
Stato and l^cal sources of revenue.
In sono States the proposed tax
will.dalrenac ths average cost of antonobile registration^ by more
than 100 percent.
IO -
¡j¡¡
OA.
period years «111 payAn© «xotii profit« tax*
This situation oaanot
to justified In tho light of ths growing revenas requirements.
la
order to reach those profite whieh are attributable solely to th# defense
progran« the treasury recommended and the bill provides that a flat rate
ef XÖ percent should be applied in such eases to that part of the current
profite that exceeds the base period earning» but does net exceed tho
invostod capital credit*
the excise portions ef the pending bill are estimated to yiold
37V, r
tâte?#» millions,
forty-six percent of this total derives from raising
the rate« er broadening the bates ef 14 existing excises*
twenty-two
new excises ere expected to yield 54 percent of the total.
fhn Treasury recommended but the bill dees net contain increases
in the existing rates ef tax ea gasoline« tobacco products and beer,
the Treasury siso roeommendod that the present tax en passenger auto
*sSL
mobiles be increased te 15 perçant! the bill provides for an increase
f
In tho existing law the inveeted capital crédit 1« a fiat
8 percent en the catire amount of the invested capital,
fhe Mi l
próvidos that the crédit be reduced to 7 percent on invested* capital
exceeding $5,000,0
In etêer^j^ to ^daCB— age^me# equlty finaneing, it le désir
able to allen a larger tax-free retara en new capital than venid he
obtaînable nnder the reversai in methoà ef computing the tan»
4
spécial aliénanos en new capital investment when the exsess profita
crédit is computed nnder the inveeted capital aethod le nade by including new capital at 185 perçant of lia vaine.
This le the équivalent
of alleving an invaated capital crédit with respect to new capital of
10 percent where the total inveeted capital le leas than $5,000,000
and 8-3/4 percent where the inveeted capital le more than $5,000,000.
the allowance le applicable only en new capital which consista
ef money or property paid In fer stock.
It dees not extend to new
capital ralead by borrowlng nor te earnings and profits retained in
the business.
Safeguards are provided ^ ÿ S m m à r the nee of the new
capital allewanoe for tan avoidance pnrposes.
fhe exeess profite tax in the prêtent law falle to reach a vsry
large part of defense profita, despite the olear expression of Congressional intent that profits grotrlng ont of the dofenee effort
shonld bo «abject to exeess profits tax.
Dur examinât ion of the
available data shews that many corporations that aro tho principal
beneficiarles of tho dofonso effort and «hôte profits in 1940 were
many times larger than in 1839 and ln?any of tho procoding baso
u, thè Second Rwraira»Ae*<>* l * * h
rate. of ta*. » « « • * « * —
ae amsBdtejff®» 1 , 1 1 1 *********
** *"*“ • *“ "**•’
^
“
.pedal * « en corporation. u.1« tho !»— *<* ° ^ Ub1 oreàit*
$he tax brrneksts ©f th* «ad«ii»* i** * g ra d u a it aeeording to
thè amount ©f th© adj usted excess p ro fit« net incoae» are rotained.
fb » increase ia thè test rate «Beante te 10 percentaje peinte in eeeh
bracket.
fhe prope sed rete» range fre» 35 pereeat en «djneted exeess
p ro flt, u t in coa, Of not
over #600,000.
h n
tbaa #20,000 to 60 poroont en aaonntl
S ta eorrsapondlng rat«« la th* 8lis t in g la » ar«
25 puresat and SO paread.
Sta» ae«t Important «trae*»«! changa prerlded by tho till ia
thè disallovanoe of thè tace*» tax as a déduction la computing thè
azeeee profits tea. Ale chango *111. lnereeae thè aaeant of Incoi»
subject to tho 0*0000 profits ter oad heace tho revenue.fro« tho
oxeoas profite te*. Soasar, tho lacreaos *111 ho partir offset
hy a deereaee la tee incorno subject to tho oorporatloa lac«» ta*
besase tho oxeoas profits te* le alienad as a déduction for ti»
parpóse of eonpatlag tho lacas te*, hoth aoraol aad «arte*.
The excesslveneos of profite e hald ho measared hy tho «hele of
corporato profite as propo.od la tho bill aad aot hy tho port roooter
lag a f t a incoi» taz as la tho présent la*.
Tfeâer graduâteá rete« «»
présent procedure resulto la dropplng thè taxable «*ee«s
thè lever brochet rates, t h & dlainishing thè resone.
into
IMrthsr.boesao*
thè hase perlod Incorno te* 1 » l a t e thaa thè carrent Incoa te* U ®-*/2
percent a
agalnst 34 percent fer 1 9 « «ad 30 perçât fer 1 9 # corporati* I
uslng tho average sarnlng* method are «lloved a «reatar dedaetlea fre»
profits of tho eurroat yoor thon fro« tho profite of tho base periei
arera«,.
Such rédaction la tea ozceas profite te* of corporation« u«tt|
tho avorags earalngs aeteod «sa s ontlroiy unvarranted ln view of
slaready liberal exeess profits erodio# K
~ 7 -
these bond*.
*e avoid granting a further unexpected henne, it 1#
necessary that the Increase in rates he in the fern of a surtax.
It has hews painted eat, however, that the combined effect of
this surtax, together with the po •tponenent of deductions attributable
to hands purchased at a premium until the bends mature or ero sold,
!
may adversely effect the market for many outstanding Treasury securities. j
I therefore suggest that consideration he given, in the case ef public
and private bends ^purchased at a premium, to requiring the holder te
amortize the premium ever the life ef the bond in place ef the present
system of allowing a capital lose at the time of maturity moaeurod by
the difference between purchase prise end redemption price.
.1
m
Such a
proposal would, in effect, treat the interest an such bends at the ef*
factive rate rather than at the coupon rato for tax purposos and would that
bo both moro realistic and in accordance with commercial practice.
the bill amimi permanent the defense tares which were lag*ted
far a five year period by to* leveree dot of 1910*
flore defense
g l
[w*
(SI
j
tares amount, In girerei« to 10 present of the tares to «hire thay
bp
ree added*
pin
In view of thelf now permanent naturo, I suggest that
I I.
IX
intre be integrated with h m other tal tetre» so that the amount
kit
Of reo various tares can bo reagRttod re reo r e n t of n single rat#
etrnetere.
reto will siapiify bore tho tret of tho reveres lore
and the computations to bo rede by taxpayer« tboreundor*
In tho creo of tho capital stash tax, tho
Hcuso bill
!# !§ !
increases the
tax rate from $1.10 to $1.90 upon each $1,000 of tho declared value
of capital stock.
«imi»»*
The anticipated ''increase
in revenue fren tnf o
K
le $32.3 arnione/ *
Sho proposed
in the excess profits tax aro estimated
ttUe
increase the revi
Ù CIZ.XU* i M T M M
~yu> [¡¡LAs
by $1,198.3 m illion *,
IV ■'
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»l«u>u* «hang* t» tb*
.. . .
optional methods of computing tho excess profits credit provided by
the Second Soreauo dot of 1940. She Secretary has already called to
your attention tho fact that tho department does not favor a continuation
of
^
SS!
method which loaves free of exeoee profits tax
those corporations with consistently high, earnings which represent the
greatest ability to pay.\ 9ho~hlll treroasos tfcowodooo&iibav, redUloo
sgaSppSa^3?£s^
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bracket la t » « u of $80,000,000 has booa iMfl«á te heeome iff«Uve on that portion of the aot estáte exoeediag $10,000,000. fhe
fifi taz ralos hayo also hooa incrsaseá so thal they continuo lo he
three-fourths of Ihs osláis las ralos, fho aaticipated reyonue
inoreas© from those changos aaeunts lo $161.9 Billloa. ll has besa
estimated thal if Ihs higher ralos aad lower exsmptions proposed by
the freasury varo adoptad, the inereased yisld would ho $347.8 miliion.
fho poadiaf hill mokas sereral ohanges la Ihs oorporalioa lasas.
II flyos stress ion lo Iho principio Ihal corporations generally, «yoa
those witheat excessive profilo, «hould hoar parí of Iho haayy hardea
imposed hy Iho dofoaso progzaa. So Ihal ond, il próvida« for «a la
crease la iho oorporalioa láceme tax of 6 percont oa Iho flrsl $18,000
of «artas mol lnoome an^ 6 percont oa Iho balance, fhis increase - as
Ihal of Iho personal iacomo tax - is imposed la Iho for« of a «arlas,
»
la ordsr lo rsaeh a sabstaatial parí of Iho latoros! from more than
$30 billion of partially tax-exempt ««surilies chich aro held by cerpor*
ÜÜ
aliono, principany hanks aad insuranoe eonpaales.
Corporations havlag
incomegover $36,000 will Ihas ho taxed a! sa offeotire ralo of 30 per-
N
fhea !hosofsocarilíos woro issaod, 11 cas iapossihle lo forosos
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n
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l.
Iho extraerdinary demande which would ho mado apon Iho 4MMÉBMN' Heither
Iho Government ñor Iho eorporate purchasers anticipated Ihal Ihs tax
bcaefit from Ihoso partially tax-exempl socarillos would he as great
as 11 is. lach lacreas« la Iho aorsal las ralo has iacreased Iho
las savings whlch acoras te Iho corporal# holdors of
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5 c
The estate tax changes in the hill are likewise limited to
rate increases.
The Treasury’s recommendations that the^$40tQ0Q
insurance exclusion under the estate tax and the $40,000 specific
exemption under the estate and gift taxes he reduced to $25,000 each,
were not incorporated in this hill.
The increases in the estate tax
rates in the hill extend throughout the rate schedule hut are sub
stantially lower than those proposed hy the Treasury.
The present
two percent rate on the first bracket of the net estate has heen
increased to three percent.
on the
The maximum rate of 70 percent effective
5b Againjtake the example of a married couple with two children
having a salary income of $2700 and interest of $54, or a total of
$2754.
These two items of income and the total would he entered
on the face of the return.
Turning to the hack of the return the
taxpayer would subtract from the $2754, the credit of $800 for his
two dependents.
The remaining income would he $1954.
He would
look on the table and find that he owed a tax of $33.
It is thus seen that the computation of the tax would he extremely
simple.
5a -
The simple return form would not he of value to them since computa
tions of these items would he necessary before income could he de
termined.
For other taxpayers with incomes of not more than $3,000,
however, the short form would he provided.
Since the short form would he made optional rather than compul
sory, the taxpayer would not lose any rights he has under existing
law to benefit if he desires from specific deductions such as losses
not covered by insurance or capital losses.
In order that the typical taxpayer using the simple table might
derive substantially the same tax benefit from deductions that he
now derives, the tax appearing on the table would take into account
the average amount now deducted by persons with small incomes.
Finally.in order to simplify the income tax table incomes would be
grouped in blocks of $25 with the same tax payable for all incomes
within the block.
jdr
For example, take the case of a single man with a salary of
$1880*9 If we assume that the personal exemptions recommended by the
President of $750 for single persons and $1500 for married persons
and heads of families were adopted, this taxpayer would compute his
tax in the following manner:
On the face of the short income tax form he would write down
his salary of $1880.
He would then look on the back of the return
and see that this income fell in the block from $1876 to $1900.
He
would find that this tax is $94 and this he would enter on the front
of the return and pay that amount as his tax.
- 5However, the threat of rising prices alters the situation.
If the
cost of living rises substantially, the effect will be to tax small
incomes much more than an income tax \/ould at the rates provided in
this bill.
The reduction of personal exemptions will make it possible
for a large number of persons in the country to feel that they are making
direct contributions to the defense program.
During the course of this
tax bill we have had evidence that many people want to make such a
direct contribution.
As the Secretary pointed out, persons with small incomes should
have an opportunity for filing a short simple return and finding the
amount of the tax on a table instead of being obliged to file the regular
return and to make the regular tax computation.
The Secretary has placed
in your hands an illustrative schedule and discussed briefly its applica
tion.
I would like to indicate in somewhat more detail how the proposal
V
*
would operate.
It is intended to apply primarily to persons with incomes
from wages, salaries and interest.
of these types.
A great majority of small incomes 0
»
The incomes of small businessmen, however, are more
complicated, involving as they do costs of materials, inventories, depre
ciation and other expense items.
- 4 -
for dependents, and since the earned income credit is allowed for
normal tax hut not for surtax purposes, some income not now subject
to tax will he subject to the surtax*
Under existing law the earned
income credit permits a single person to he free of income tax un
less his income is in excess of $888 , while a married couple with
no dependents is free of income tax unless it receives more than^$2 ,222,
although the personal exemptions in these instances are only $800
and $2,000, respectively*
The result of the application of the sur
tax to the first dollar of surtax net income, as provided in the
hill, is to make taxable approximately 2,470,000 people who other
wise would he free of tax with the same income.
These, together
with the persons who will become taxable as a result of increases
in their income are expected to raise the number of 1942 income tax
payers 3,405,000 over the 1941 number.
iflfc00* ” '
It is estimated that if the pending bill is enacted, 17,107,000
tlUL,
individual income tax returns will be filed during^calendar year 1942JJP
of this number 10,925,000 will be taxable.
In the early stages of this bill the Treasury Department took
the position that in view of this substantial broadening of the base
personal exenptions should not be /^urther|lowered.^
surtax net income, whereas under existing law the first $4,000 of
surtax net income is free from surtax.
The hill provides for
increases in the surtax rather than in the normal tax, in order
to place some of the additional tax burden on the recipients of
interest from partially tax-exempt securities.
The rate schedule under the hill differs in certain respects
from that proposed to the Ways and Means Committee hy the Treasury.
The hill imposes a tax of 5 percent upon the first $2,000 of surtax
net income and increases existing rates up to those applicable to
$750,000.
The Treasury recommended that the surtax start at
11 percent on the first $2,000 of surtax net income.
Because
of the importance of curbing the present inflationary tendency and
because of the revenue it would produce, the Treasury repeats its
recommendation.
The pending bill leaves the amount of the personal exemptions
and the credit for dependents unchanged.
The Revenue Act of 1S40
decreased the exemptions from $1,000 to $800 for^aJ|single person
and from $2,500 to $2,000 for a married couple.
Approximately
8,200,000 new returns are expected to be filed in 1941, and it
is estimated that there were approximately 4,000,000 new taxpayers.
Although it leaves the personal exemptions unchanged, this
bill wi 11 actually broaden the base.
It makes the surtax applicable to
the first dollar of income after the personal exemption and credit
t
In the past three months, the fiscal situation has under
gone further change.
Expenditures for the fiscal year 1942 are
now estimated at $22,169,000,000 rather than the $19,000,000,000
as of April 24.
Receipts from the existing revenue system, without
the pending "bill, are estimated at $9,402,000,000.
Thus, even with
$3,600,000,000 additional revenue, the revenue system would still
he $1.9 billion short of the 2/3-1/3 goal.
This Bill, H. R. 5417, is estimated to produce in a year of
full operation
36.7 million, or $263.3 million less than the amount
recommended by the Secretary.
Of this total, $864.8 million or 26.7
percent of the additional revenues will be derived from increases in
individual income taxes, $1,345.2 million or 41.6 percent from increases
in corporation taxes, $151.9 million or 4.7 percent from increases in
estate and gift taxes and $874.8 million or 27.0 percent from new
excises and increases in existing excises.
m m m *
With respect to the individual income tax, the provisions of the
bill are^principally^confined|to increases in the tax rates.
The
present rate of the normal individual income tax is unchanged, but
the surtax rates are
Moreover, the surtax
under the revised schedule applies to the first dollar of
In his discussion of taxation as
an essential part of national defense, 4gga Secretarylemphasized the
need for paying a large proportion of the defense costs from present
taxes and the need for making fall use of the potentialities of the
tax system in resisting priee inflation.
In the final analysis, the
¿©b of defense is largely a production job.
The tax system, therefore,
must he designed to enhance and not burden defense output. The ¿oh of
defense is also one of national unity.
This makes it imperative that
as far as possible the hugeW tax
burden— cnecessitated by the emergency
.
A
be apportioned among the
of our population equitably
and without discrimination.
The Secretary has laid before you the broad outlines of our tax
problem. My statement will deal more directly with the provisions
of the oendine bill.
cated a need for legislation to produce annually $3,500,000,000
additional revenue. This recommendation was based on the conclusion
that current taxes should provide approximately two-thirds of the
federal expenditures during the emergency period.
In terms of the
fiscal year 1943 revenues and expenditures indicated last A p ril,
$3,500,000,000 additional revenue would have met the 2/3-1/3 ratio
of taxes to borrowing.
2-4 -
4
Statement of John L. Sullivan,
Assistant Secretary of the Treasury,
before the Senate Finance Committee,
August 8, 1941#
In his discussion of taxation as an essential part of
national defense, Secretary Morgenthau emphasized the need for
paying a large proportion of the defense costs from present
taxes and the need for making full use of the potentialities of
the tax system in resisting price inflation.,
In the final
analysis, the job of defense is largely a production job.
The
tax system, therefore, must be designed to enhance and not
burden defense output.
unity.
The job of defense is also one of national
This makes it imperative that as far as possible the
huge tax burden necessitated by the emergency be apportioned
among the various groups of our population equitably and without
discrimination.
The Secretary has laid before you the broad outlines of
our tax problem.
My statement will deal more directly with
the provisions of the pending bill.
In the Secretary’s statement before the Ways and Means
Committee he indicated a need for legislation to produce
annually $3,500,000,000 additional revenue.
This recommendation
2
was based on the conclusion that current taxes should provide
approximately two-thirds of the Federal expenditures during
the emergency period.
In terms of the fiscal year 1942 revenues
and expenditures indicated last April, $3,500,000,000 additional
revenue would have met the 2/3-1/3 ratio of taxes to borrowing.
In the past three months, the fiscal situation has under
gone further change.
Expenditures for the fiscal year 1942 are-
now estimated at $22,169,000,000 rather than the $19,000,000,000
as of April 24.
Receipts from the existing revenue system,
without the pending bill, are estimated at $9,402,000,000.
even
Thus,
with $3,500,000,000 additional revenue, the revenue system
would still be $1.9 billion short of the 2/3-1/3 goal.
This Bill, H.R. 5417, is estimated to produce in a year of
full operation $3,236.7 million, or $263.3 million less than the
amount recommended by the Secretary.
Of this total, $864.8
million or 26.7 percent of the additional revenues will be
derived from increases in individual income taxes, $1,345.2
million or 41.6 percent from increases in corporation taxes,
$151.9 million or 4,7 percent from increases in estate and gift
taxes and $874.8 million or 27.0 percent from new excises and
increases in existing excises.
oQ
With respect to the individual income tax, the provisions
of the bill are confined principally to increases in the tax
rates.
The present rate of the normal individual income tax is
unchanged, but the surtax rates are increased substantially.
Moreover, the surtax under the revised schedule applies to the
first dollar of surtax net income, whereas under existing law
the first $4,000 of surtax net income is free from surtax.
bill provides for
The
increases in the surtax rather than in the
normal tax, in order to place some of the additional tax burden
on the recipients of interest from partially tax-exempt securities.
The rate schedule under the bill differs in certain respects
from that proposed to the Wajfl and Means Committee by the Treasury.
The bill imposes a tax of 5 percent upon the first $2,000 of
surtax net income and increases existing rates up to those
applicable to $750,000.
The Treasury recommended that the
surtax start at 11 percent on the first $2,000 of surtax net
income.
Because of the importance of curbing the present
inflationary tendency and because of the revenue it would produce,
the Treasury repeats its recommendation.
The pending bill leaves the amount of the personal
exemptions and the credit for dependents unchanged.
The Revenue
Act of 1940 decreased the exemptions from $1,000 to $800 for a
- 4 single person and from $2,500 to $2,000 for a married couple*
Approximately 8,200,000 new returns are expected to be filed
in 1941, and it is estimated that there were approximately 4,000,000
new taxpayers*
Although it leaves the personal exempt ionshxnchanged, this
bill will actually broaden the base.
It makes the surtax
applicable to the first dollar of income after the personal exemp'
tion and credit for dependents, and since the earned income
credit is allowed for normal tax but not for surtax purposes,
some income not now subject to tax will be subject to the surtax.
Under existing law the earned income credit permits a single
person to be free of income tax unless his income is in excess
of $888, while a married couple with no dependents is free of
income tax unless it receives more than $2,222, although the
personal exemptions in these instances are only $800 and
$2,000, respectively.
The result of the application of the
surtax to the first dollar of surtax net income, as provided
in the bill, is to make taxable approximately 2,470,000 people
who otherwise would be free of tax with the s-ame income.
These,
together with the persons who will become- taxable as a result
of Increases in their income are expected to raise the number of
1942
@FedFRASER