Page:United States Statutes at Large Volume 40 Part 1.djvu/442

SIXTY-FIF TH CONGRESS. Sess. I. Ch. 106. 1917. 423 President shall prescribe, until otherwise ordered by the President or Prom by Congress: Provided, however, That no preference shall be given to No peri prerertaee. the ports of one State over those of another. Mm S received bv Sec. 12. That all moneys (including checks and drafts payable on pustodirin to be sepsidemandg paid to or received by the alien property custodian pursuant "°r'}.$‘§,§'.}2,.`f{f§€;{"· to this ct shall be deposited forthwith in the Treasury of the United States, and may be invested and reinvested by the Secretary of the Treasury in United States bonds or United States certificates of indebtedness, under such rules and regulations as the President shall prescribe for such deposit, investment, and sale of securities; and as soon after the end of the war as the President shall deem practicable, such securitiesshall be sold and the proceeds deposited in the Treasury. Dm All other prgperty of an enemy, or ally of enemy, conveyed, trans- my ,%,‘€§f’*h°' °“` ferred, , delivered, or paid to the alien property custodian hereunder gall be safely held and administered by him except as D6 1 hereinafter provided; and the President is authorized to designate as '°" t° a depositary, or depositaries, of property of an enemy or ally of enemy, any bank, or banks, or trust company, or trust companies, or other suitable deposit or depositaries, located and doing business in the United States. B%e alien property custodian may deposit with dwg¤,t,dm’”°°?f °'°°°"’ such designated depositary or depositaries, or with the Secretary of the Treasruy, any stocks, bonds, notes, time drafts, time bills of exchange, or other secruities, or property (except money_or checks or drafts payable on demand which are required to be deposited with the Colm Secretary of the Treasury) and such depositary or depositaries shall 4.,,,.1,, ,,{§“ °' di"` be authrglized andbempowpired todcollect any drvidirlrlcgs or intgreiigtfor mcome at may ecome ue an an mat o ations e or the account of such custodian. Any nioneys cohected on said account Damn °m°m”` shall be paid and de `ted forthwith by said depositary or by the alien Qrofperty custodizii into the Treasury of the United States as herein e ore provided. . _ The President shall require all such designated depositaries to exe- ,,§{gf" "°"‘ déP°S‘ cute and file bonds sufficient in his judgment to rotect property on dciigsit, such bonds to be conditioned as he may direct. -..n..-.nM.. ., in e alien property custodian shall be vested with all of the powers Custodian trustee of of a common—law trustee in respect of all property, other than money, £iXK§§i’ °°h°’ tm which shall come into his possession in pursuance of the provisions P°·”» P- 460- ; of this Act, and, acting under the supervision and direction of the President, and rmder such rules and regulations as the President shall prescribe, may manage such property and do any act or things in m_§’u‘{°§{gh*P» m¤¤°¤°· respect thereof or make any disposition thereof or of any part thereof, ’ ` by sale or otherwise, and exercise any rights which may be or become appurtenant thereto or to the ownership thereof, if and when necessary to prevent waste and girotect such property and to the end that the interests of the United tates in such prolperty and rights or of such person as may ultimately become entitled thereto, or to the proceeds thereof, may be preserved and safeiiarded. It shall be the duty of rremy stock to be every corporation incorporated wit in the United States and every °° °“””°‘ unincorporated association, or company, or trustee, or trustees within the United States issuin shares or certificates representing beneficial interests to transfer such shares or certxcates upon its, his, or their books into the name of the alien proplerty custodian upon demand, accomlpanied by the presentation of the certificates which represent Deposit erreeerprs. such s rares or beneficial interests. The alien property custodian shall forthwith deposit in the Treasury of the United States, as hereingefgre provided, the proceeds of any such property or rights so sold y rm. . Any money or property required or authorized b the provisions r1i·§1?zg?:·Ii*fle:ti>f of this Act to be paid, conveyed, transferred, assigned; or delivered to "“*“· the ahen property custodian shall, if said custodian shall so direct by