FOREIGN SECURITIES

Dominion, Volume 10, Issue 3044, 3 April 1917, Page 4

FOREIGN SECURITIES

IMPORTANT REGULATIONS ON CONDITION OF SALE. In connection with the recent announcement by the British Treasury concerning tho control of securities in ordor to support the • exchange position a series of regulations have beon issued under tho Defence of tlio Realm Act relating to a general. permission given for dealings abroad in foreign, colonial,, and Indian securities.' Such permission doeg not hj>pl,v to securities included in any previous ordor. ~ , Securities which have remained since September 30, 1914, in physical possession ;in tho United Kingdom havo not since the outbreak of .war ! . been in enemy ownership, may be soldin tlio United States of America, tho Dominion of Canada, or the colony of Newfoundland, provided, that: Tho proceeds of any such sales aro remitted to this country, forthwith, and invested here. . ■ ■ : . All communications in respect to any snch sales are carried out by cablo only and not'by mail. [Written ' communications must be confined to confirmation of cables already sent.] Every telegram or cable which re- , lates to any such sales bears a certificate signed by tho sender drawn in a "prescribed form and embodying tlio conditions just stated. Transactions with the "countries or North America can only be.carried out through certain agents approved for the purpose, ' . . ' ■ United States, Canadian, and Newfound, land securities must not: bo sold in any other foreign country or British possession. Regarding the sale of otter foreign,: colonial, and -Indian- securities in - other countries similar conditions obtain, and a certificate must be attached'to tlio parcol containing the securities,..which are to be dispatched in a prescribed.manner.. Foreign, culonial, and Indian 'securities held in physical possession abroad, on behalf of a British subject, and whicli havo not since the outbreak of war ..been in enemy ownership, may bo sold only by special permission of tlio Treasury, for which application must ,be, made to : tho America! Dollar Securities Committee, 1!) Old Jewry, E.C., who will either purchase such securities on behalf of the ■Treasury, or will give the lieccssary authorities and instructions as to the methods to bo adopted for their sale. The permission given by this announcement for the removal of securities irom the United Kingdom applies-only to securities the Balo' of which has been already, arranged. " .;