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CIRCULAR N O . 107. FEDERAL RESERVE BANK OF N E W YORK N E W Y O R K , J u l y 6, 1918. R E : P A Y M E N T C O U P O N S B R I T I S H GOVERNMENT B O N D S . DEAR SIRS: Arrangements have been made whereby coupons from all British Government securities which have previously been payable in London, m a y hereafter be deposited with this bank for collection. All coupons presented must be accompanied by a schedule which will include a declaration of nonenemy ownership, also in cases where nonresidents of Great Britain claim exemption from the British Income Tax on coupons wrhich would otherwise be subject to this tax, they must be accompanied by a special form of income tax declaration. upon request. T h e above forms will be provided All coupons must also be accompanied by United States income Tax ownership certificate form 1001A. Coupons may be presented for collection a t a n y time, b u t not more than one month prior to their due date and when so presented will be paid at the current rate of exchange as soon thereafter as possible. No charge will be made for this service. Coupons will be accepted only from banks; it will probably require two weeks or more from the time they are presented before payment can be made. Very truly yours, B E N J . STRONG, Governor.