The Secretary of State to the Egyptian Minister ( Ratib Bey )

The Secretary of State presents his compliments to the Honorable the Minister of Egypt and, with further reference to a memorandum which the Chargé d’Affaires left at the Department on September 27, 1935, concerning the taxation of certain securities owned by the Egyptian Government and deposited in a bank in New York, quotes below an excerpt from a letter from the Governor of the State of New York:22

“The Commissioner of Taxation and Finance advises me that you may assure the Egyptian Chargé d’Affaires that the State of New York has no tax which expressly or by implication taxes the French Government Dollar Bonds as property, or the income therefrom, or the transfer thereof, under the circumstances set forth in your communication.”

  1. Dated October 28, 1935.