WHEREAS Section of the Philippine Property Act of 1946 (60 Stat. 418) provides that property vested or transferred under the Trading with the Enemy Act (40 Stat. 411), as amended, which was located in the Philippines at the time of such vesting, or the proceeds thereof, and which shall remain after the satisfaction of any claim payable under the Trading with the Enemy Act, as amended, and after the payment of such costs and expenses of administration as may by law be charged against such property or proceeds, shall be transferred by the President of the United States to the Republic of the Philippines; and WHEREAS section 3 of the said Philippine Property Act further provides that such property, or proceeds thereof, may be transferred by the President of the United States to the Republic of the Philippines before final adjudication of such claims, costs, and expenses of administration as may by law be charged against such property, or proceeds thereof, upon indemnification acceptable to the President of the United States by the Republic of the Philippines for such claims, costs, and expenses of administration: and WHEREAS the President of the Republic of the Philippines has given assurance, with respect to property, or proceeds thereof, which the United States may transfer to the Republic of the Philippines pursuant to section 3 of the Philippine Property Act of 1946, that the Republic of the Philippines will save harmless and indemnify the United States against all claims against such property, or proceeds thereof, as are payable under the Trading with the Enemy Act, as amended, and for such costs and expenses of administration of such property as are by law chargeable against the property, or proceeds thereof; and WHEREAS such assurance of indemnification by the Republic of the Philippines is acceptable t the President of the United States; and WHEREAS it appears administratively desirable that the Philippine Alien Property Administrator be authorized to act on behalf of the President of the United States with respect to certain property which may be transferred to the Republic of the Philippines pursuant to section 3 of the Philippine Property Act of 1946:
NOW, THEREFORE, #now-therefore
by virtue of the authority vested in me by the said Trading with the Enemy Act (40 Stat. 411), as amended, and the said Philippine Property Act of 1946, and as President of the United States, it is hereby ordered as follows: 1. The Philippine Alien Property Administrator is authorized to transfer to the Republic of the Philippines in accordance with the provisions of section 3 of the Philippine Property Act of 1946, as soon as practicable after final payment of claims, costs, and expenses of administration, any property, or proceeds thereof, vested in or transferred to him pursuant to the Trading with the Enemy Act, as amended, and the Philippine Property Act of 1946. 2. The Philippine Alien Property Administrator is authorized to transfer to the Republic of the Philippines in accordance with the provisions of section 3 of the Philippine Property Act of 1946, prior to final adjudication of claims, costs, and expenses of administration when he deems it to be administratively feasible, and without further consideration for such transfer, property, or proceeds thereof, vested in or transferred to him pursuant to the Trading with the Enemy Act, as amended, and the Philippine Property Act of 1946, against which, in the judgment of the Administrator, no substantial claims, expenses, or costs of administration are likely to be chargeable. HARRY S. TRUMAN
THE WHITE HOUSE, #signature
January 10, 1948
