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3W . P . 6 . H A R D I N G , GOVERNOR P A U L M. W A R B U R G , VICE GOVERNOR F R E D E R I C A. DELANO ADOLPH C. MILLER C H A R L E S S . HAMLIN EX-OFFICIO MEMBERS W I L L I A M G . McADOO SECRETARY OF THE TREASURY CHAIRMAN J O H N SKELTON WILLIAMS COMPTROLLER OF THE CURRENCY FEDERAL RESERVE BOARD WASHINGTON H . P A R K E R W I L L I S , PEFRETARY S H E R M A N P . ALLEN V.ALS^F.- SECRETARY AND FISCAL AGENT ADDRESS REPLY TO FEDERAL J a n u a r y 1 0 , 191%. Dear S i r : T h i s w i l l c a l l a t t e n t i o n t o t h e f a c t t h a t copy f o r b u s i n e s s c o n d i t i o n s t o be u s e d i n t h e F e d e r a l R e s e r v e B u l l e t i n , f o r F e b r u a r y s h o u l d be i n t h e o f f i c e s of t h e F e d e r a l R e s e r v e Board n o t l a t e r t h a n J a n u a r y 2 4 , I 9 I 7 . With t h i s copy, p l e a s e s e n d t h e u s u a l i n f o r m a t i o n &s t o c l e a r i n g e p e r a t i o n s on which t h e summary f o r t h e B u l l e t i n i s made u p , and do n o t f a i l t o i n c l u d e t h e summary of b u s i n e s s c o n d i t i o n s upon t h e s l i p s f u r n i s h e d you f o r t h e p u r p o s e . Because of t h e f a c t t h a t p a p e r and o t h e r c o s t s have i n c r e a s e d , t h e Board d e s i r e s t o r e d u c e t h e s i z e and c o s t of t h e B u l l e t i n a s much a s p o s s i b l e . You a r e , t h e r e f o r e , r e q u e s t e d t o l i m i t y o u r s t a t e m e n t of b u s i n e s s c o n d i t i o n s t o n o t more t h a n one t h o u s a n d w o r d s , u n l e s s some u n u s u a l c o n d i t i o n h a s a r i s e n i n your d i s t r i c t which w a r r a n t s e x t e n s i o n of y o u r d i s c u s s i o n . Very r e s p e c t f u l l y , Secretary. RESERVE BOARD
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