Executive Order 2744—Fixing Salary of, and Vesting Certain Power and Authority in, the Alien Property Custodian Appointed Under Trading with the Enemy Act

By virtue of the authority vested in me by "An act to define, regulate, and punish trading with the enemy" approved October 6, 1917, I hereby make and establish the following order:

I hereby fix the salary of the Alien Property Custodian heretofore appointed at the sum of $5,000 per annum. I direct that said alien property custodian shall give a bond in the amount of $100,000, with security to be approved by the Attorney General, and which bond shall be conditioned to well and faithfully hold, administer, and account for all money and property in the United States due or belonging to an enemy or ally of enemy, or otherwise, which may be paid, conveyed, transferred, assigned, or delivered to said custodian under the provisions of the trading with the enemy act.

I hereby authorize and empower the Alien Property Custodian to employ and appoint in the manner provided in the trading with the enemy act in the District of Columbia and elsewhere, and to fix the compensation of such clerks, attorneys, investigators, accountants and other employees as he may find necessary for the due administration of the powers conferred on such alien property custodian by law or by any order of the President heretofore or hereafter made.

I hereby vest in the Alien Property Custodian the executive administration of the provisions of section 12 of the trading with the enemy act pertaining to the designation of a depositary, or depositaries, and requiring all such designated depositaries to execute and file bonds and prescribing the form, amount, and security thereof. And I authorize and expower the Alien Property Custodian to designate any bank, or banks, or trust company, or trust companies, or other suitable depositary or depositaries located and doing business in the United States, as the depositary or depositaries with which said alien property custodian amy deposit any stocks, bonds, notes, time drafts, time bills of exchange, or other securities or property (except money, or cheques, or drafts payable on demand) of an enemy or ally of enemy and to prescribe the bond or bonds and the form, amount, and security thereof which shall be given by said depositary or depositaries.

The following sums, or so much thereof as may be necessary, are hereby allotted out of the funds appropriated by the trading with the enemy act to the following named officers:

To the Alien Property Custodian ............................ $100,000

To the Federal Trade Commission ............................. 25,000

To the Secretary of the Treasury ............................... 15,000

To the War Trade Board ........................................... 25,000

to be expended in the administration of the powers vested respectively in them by law or by any order heretofore or hereafter made by me.

The powers and authority herein vested in said Alien Property Custodian are in addition to the powers and authority vested in said alien property custodian by the Executive order of October 12, 1917.

WOODROW WILSON

THE WHITE HOUSE,

October 29, 1917