We report our observations of a phase lag between the intensity variations of high energy galactic cosmic rays and the quiet time oxygen flux in the energy region 7.6---24 MeV/nucleon during the time period 1974--1975. Phase lag or hysteresis effects have been observed during the 11-year solar cycle for low energy galactic cosmic rays and several authors have shown that this hysteresis effect is a function of the velocity and rigidity (and therefore of the ionic charge) of the particles. Assuming a similar rigidity dependence of the phase lag during the transient intensity decrease of both galactic cosmic rays and the anomalous oxygen component in the time period 1974--1975, and comparing the phase lag as observed for protons and helium during the same period with our oxygen measurements, we derive an upper limit of ~4 for the ionic charge of the anomalous oxygen component.