851.512 American Stock Exchange Brokers/14
The Ambassador in France (Straus) to the Secretary of State
[Received January 20.]
Sir: I have the honor to report that upon the receipt of the Department’s telegraphic instruction No. 502 of December 21, 2 p.m., 1935, the matter of the assessment of the French stock exchange transfer tax on transactions executed upon the New York Stock Exchange or other foreign markets was discussed with Count René de Chambrun and Maître Gide, attorneys for the American brokerage houses in France. They were of the opinion that the basis of representations sketched in the Department’s telegram admirably furthers their own efforts in the same regard.
Thus assured of coordination I have addressed to the Minister for Foreign Affairs a note, dated January 7, 1936, following in substance the thesis of the Department’s instruction. This note, together with a copy of the attorneys’ memorandum (the text31 of which was communicated to the Department with my despatch No. 2339 of December [Page 102] 3, 1935), was delivered today to the Ministry for Foreign Affairs. At the same time the importance of the subject was orally urged upon the Ministry. A copy of my representations32 is enclosed for the completion of the Department’s file.
Respectfully yours,