811.51632 National City Bank/48: Telegram

The Ambassador in Brazil (Morgan) to the Secretary of State

45. Embassy’s telegram 44, July 24, 9 a.m. Following the quotation from the Ministerial order already telegraphed, the text of the said order states:


Considering that there is evidence of infringement of the stamp tax by reason of insufficient stamps affixed to exchange contracts,

Considering that there has been an irregularity of functional procedure on the part of the broker of public funds, Geiling, of the São Paulo market which has not been duly investigated,

I determine that the fiscal penalties provided for the said infringement shall be imposed upon the bank and that the aforesaid irregularity shall be investigated by the inspector of banks and the result of such investigation duly communicated to the Government of the State of São Paulo for due consideration.”