Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-15

10 business In the UnlteQ Stako6 eItel
November S. Enemy companies also
may not change the names they USED
at tho beginning of the war without
special license.
Secretary McAdoo Is vested by thu
President with and is expected to turr
over, TO the Federal Reserve Board The
executive administration OF any in
vestigation. regulation or prohibition OF
any transaction in foreign exchange
export or earmarking of gold or silver
coin, or bullion or currency. transfers
Of credit in any form (other than
credits relating solely to transactions
TO be executed wholly within the
United States). the transfers OF evil
dences OF Indebtedness or of the
ownership OF property between the
= United States and any foreign coun-
try, or between the residents OF one or
more foreign countries, by any person
within the United States The Re-
serve Board already exercises virtual
control over gold and silver exports.
The Secretary OF the Treasury's
vested authority TO prevent transmits
sion of information TO any enemy,
either TO or from the United states.
will be exercised by the Secret Service
The secretary may grant permit for
this transmission when he wishes
LICENSES TO he ISSUED
DY SECRETARY OF TREASURY
~ further authorize the Secretary OF
the Treasury" says the President In
his order. TO grant u license under
such terms and conditions as are not
inconsistent with law or TO withhold
or refuse the same 10 any enemy or
ally OF enemy insurance or reinsur-
ance company doing business within
the United states through an agency
or branch Office or otherwise which
makes application within thirty days
OF Ortober g. 1917" the date the act
was approved.
The censorship board is intrustcd
with the censorship OF communication
by mail. cable. radio, or other means
OF transmission passing between the
United States and any foreign country
from time 10 time specified by the
President, or carried by any vessel. or
other means OF transportation. touch
ing at any port, place or territory OF
the United States and bound to or from
any foreign country
Among the most important and far
reaching Of the provisions OF the enemy
act" SAYS an Official statement eX
planning the law, "are those dealing
with the taking over by this govern
ment OF the custody and control OF
enemy property within the United
States.
THE property affected by these pro-
visions is that which is located In the
United States and belongs 20 any per-
son or corporation that is an enemy
or ally OF enemy within the defni-
tons OF the act referred to above. ex-
cept those licensed to continue doing
business in tho United States. Ger
man subjects and the subjects Of her
allies resident in the United States do
tionality. fall within these definitions.
MUST FILE INFORMATION
WITH PROPERTY CUSTODIAN
The act makes it the duty OF every
concern within the United States. is
suing shares OF stock. within sixty
days after the approval OF the act. TO
report to the alien property custodian
the names of such of it's officers. direc-
tors and stockholders as are known to
be or reasonably believed to be enc
niles or allies OF enemies and tho
amount Of stock or shares owned by
each.
The act provides in addition, under
severe penalties. that every person in
the United States holding any prop
crty for an enemy or ally OF enemy
or for any person whom he may have
reasonable cause to believe to be an
enemy or ally Of enemy must rc-
port the fact to the alien property
custodian within thirty days after the
passage OF the act. So also any person
in the United States indebted in any
way to an enemy or ally of enemy
or to person whom he may have
reasonable cause 10 believe 10 be an
enemy or ally OF enemy must make
a similar report"
The alien property custodian nav
a ~
property held for or debt owed 10 an
enemy or enemy ally. and any persons
20 holding any property, or so owing
any money may transfer such property
or pay such money 10 the custodian
With his consent
PROPERTY Will. BE HELD
UNTIL END OF THE WAR
PROPERTY oIAmonsy transferred 20 the
alien p-opeEt? custodian Will BE- held
until the end 'Noi ,he war. and then
dealt with as Congress shall direct.
vested II Liberty bonds and held in
.uch FORM.
Tn. Pr.sid%n, Ia. delegated 10 N.
n. power 10 direct
the paynen, ot claims against enemy
property II tie hands ot the custodian,
upc1 re consent Of al! persons In
rer..tet-
The definition Of en- enemy" or ally
o, enemy e explicit Any person, re-
Es,c!ess % nationality. %ho resides
T!th!n u. territory OF the German
empire o! ,he territory II any of It's
al!e. or that occupied By ,he!r mill
tzEy force. IS expressly made an an
envy Or ally q. enemy" b. the &C..
Even citizens OF the United States re-
rnzintnE within such territory aye re-
es!ced as enemies or allies Of an
enemy" Any person doing business
Win such territory IL placed within
the cehn:,ion Of enemy" o. ally Of
enemy SO also Is any corporation
created BY Germany or ns allies. o,
by airy other nation than The United
states and doing business within such
territory.
An enemy or ally o, enemy" doing
business within the United States. b..
iore November 5, may apply for a IL
cense to continue to do business IN IN.
United States
APPLY MAINLY TO GERMAN
OR ALLY OF GERMAN CONCERNS