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Ex -O f f ic io m e m b e r s W . P . G . H A R D IN G , GOVERNOR PAUL W IL L IA M Se c r e ta r y of the Tr e a su r y CHAIRMAN J O H N S K E L T O N W IL L IA M S COMPTROLLER OF THE CURRENCY M . W A R B U R G , VICE GOVERNOR F R E D E R IC A . D E L A N O G . M cAD O O ADO LPH C . M IL L E R C H A R L E S S . H A M L IN FEDERAL RESERVE BOARD W A S H IN G T O N H. P SHE rLIS, S E C R E T A R Y LLEN, A S S T . S E C R E T A R Y ADDRESS REPLY TO FEDERAL RESERVE BOARD May 27, 191? Dear Sir: I beg to enclose herewith copies of state ments issued by the Comptroller of the Currency and by the Treasury Department relating to the placing of the ’’Liberty Loan.” Very truly yours, Secretary Enclosure.