1944.11.04.De P.S. Ross and Sons.A L.V. Randall - Eastern Provinces.Montréal

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P.S. Ross & Sons
Chartered accountants
Royal Bank Building
560, St. James St.
Centra No.1

Montréal, Quebec
4th November 1944
L.V. Randall, Esq.
Managing Director
Eastern Provinces Administration Limited
Royal Bank Bldg.
Montréal, Quebec

Dear Sir:
In view of the discussions which took place at a meeting of your board of Directors held on 25th August 1944 in connection with the application by Trust Compagnie Confidentia for the release of certain funds and the conversations which you have had in recent weeks with Mr. Mathieu and Mr. Hawthorn in connection with this matter it would seem to be desirable at this time to restate the following facts:
1. The Custodian considers that, with the exception of the cash and securities which are held for clients whose accounts are carried in their own names in the books and records of your Company, all cash and securities held by your Company for clients are the property of "Imafiza" only, until proven otherwise.
2. For the above reason the Custodian will be obliged to reject any applications for the release of cash and securities held by your Company from persons other than those whose accounts are carried in their own names in the books and records of your Company, as referred to above. This does not mean, of course, that applications by such known clients will necessarily be successful; it does mean that applications by all other persons will certainly be rejected.
3. The Custodian has been obliged to take the position outlined in (1) and (2) above because he has not been able to find any information with respect to the names and addresses of the clients of "Imafiza" whose accounts were given numbers in the records of your Company. It may be that certain sealed enveloped which, we understand, are held by the President of your Company might give the desired information but these envelopes have never been surrendered to the Custodian as promised by the President of your Company at a directors' meeting held in Montreal on 25th April 1942 at which Mr. Mathieu and Mr. Hawthorn were present.
4. Since the Custodian has not been able to find any instructions from "Imafiza" relative to the investment of funds held by your Company for clients the custodian is not prepared to approve any individual application for investment unions supported by a definite recommendation by your Board of Directors as well as necessary proof of ownership and a certificate by the Directors that they had definite instructions from "Imafiza" to permit transactions or investments in any individual account upon application.
Yours very truly,

P.S. Ross & Sons
P.S. Ross & Sons
Chartered Accountants
Supervisors of Eastern Provinces
Administration Limited for the Custodian of Enemy Property


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