832.5151/1475: Telegram
The Ambassador in Brazil (Caffery) to the Secretary of State
[Received 3:45 p.m.]
387, The Director of Exchange informs me that in order to provide equitable treatment in the allocation of exchange for remittance of earnings, dividends, royalties, and other items apart from import bills, the Bank of Brazil has established classifications and fixed percentages for monthly exchange quotas for these items. Companies whose records have been approved by the Bank will receive monthly quotas within the exchange possibilities of the Bank.
American companies that have not applied for this exchange should do so at once.
The total allotment for November is approximately $800,000. Hereafter the Bank will fix the total monthly quota at the beginning of each month.
Detailed information will be forwarded by air mail.
[Arrears of profits and dividends of American companies were liquidated during 1940. In telegram No. 563, November 4, 1940, 3 p.m., the Chargé in Brazil reported that the Bank of Brazil would pay the third and final installment, approximately $900,000.00 (832.5151/1590).]