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Ex-Officio Members W. P. G. HARDING. G O V E R N O R PAUL M. WARBURG, V I C E G O V E R N O R FREDERIC A. DELANO ADOLPH C. MILLER CHARLES S. HAMLIN WILLIAM G. McADOO Secretary of the T reasury CHAIRMAN JOHN SKELTON WILLIAMS Comptroller of the currency FEDERAL RESERVE BOARD H. X o tg 3 and W A S H IN G T O N A $ U . I S , SECRETAR Y SHERMAN P. ALLEN, ASST. SEC R ETA R Y F is c a l a g e n t ADDRESS REPLY TO FEDERAL RESERVE BOARD August Z5, 1917. Sir: In order that the Board nay compare the rates under which exchange is bought and sold in the various districts., and the methods in which exchange on other Federal Reserve Cities is handled, I shall be obliged if you will send me the latest rules and instructions which you have issued on this subject. Respectfully, Secretary