File No. 812.516/155
Mr. Thurston, in charge of American interests, to the Secretary of State
Decree issued to-day as follows:
Article 1. Those banks of issue which have not completed their reserves to sum equalling bill emissions, in conformity decree September 15, 1916, are declared in liquidation.
Article 2. Board of receivers named conformity decree September 15, 1916 will proceed to liquidate active and passive funds of respective institutions subject dispositions said decree.
Article 3. Board will cite all debtors, creditors of bank, present proofs liquidation, respective accounts and remit to Treasury Department report on active and passive funds, condition of reserve with reference to amount and equality thereof, cash on hand, bills in circulation, also classification of said values according to ease or difficulty collection.
Article 4. For present only, active credits of banks may be liquidated with bills and checks of bank concerned, which may be immediately turned in by debtors of bank in payment their obligations at integrate value represented by documents.
Article 5. If, from report rendered by board receivers, appears bank is incapable of covering passive with funds of active Treasury Department will order its judicial liquidation conformity decree September 15, above cited.