◆ SpookStack

Switzerland agreed to permit 5.0.5. to engege in this fiduciary capacity with the understanding that no pay- mente to eneny territory would be made without prior approval from the British Legation. It is stated that the aforementioned funds and other property are beneficially conned principally by Jewish persons who are nationals of and residents of the above= mentioned countries and who were endeavoring (1) to pro- fit. from black market operations in local currencies of the Balkan countries; (2) to move funds out of their hone countkies; or (3) to insure that the funds would be safe from confiecation by their local authoritics. ! On April 5, 1945, Societe General de Surveillance SR, agreed (1) to regard all accounts owed to nat of Rumania and Bulgaria as frozen; (2) to not accept any additional denosite from or on behalf of such customers unless such deposits are aporeved by the Allied Control Commission; and (3) to obtain confirmation of approval by the Allied Control Commission of all future trons- actions originating in the Balkan area. Additional information in regerd to funde and pro- party held by 5.C.5. is expected to be obtained in the near future. Moreover, this legation expecta to make en- quiries regurding a number of other Swise enterprises engaged in the same normal line of business as that of §.0.5. in order to ascertain whether or not they too hare been. engaging in this extraordinary type of business, Kindly regard this report as axtremely confidential. we are particularly anxious that it not be disclosed at this tins to anyone who would bea likely to disclose ite contents to Swiss; Balkan, or enemy sources and thereby endanger the liberty of owr informant and preclude the succesaful conclusion of the investigation. Englogure: 1. sehibit &, list of persons for whom ©.G,5. is holding foreign currency. oa Orgginal and hectograph to Department Two coples to American Embassy, London One copy for British Legation, Bern One copy for “merican Eubassy, Lisbon One copy for American Embassy, Madrid