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FEDERAL RESERVE BOARD
WASHINGTON

X-3U3O
J u n e 6,

SUBJECT:

1921 Annual Report,

Dear Sir:
T h e r e h a s b e e n f o r w a r d e d to y o u today u n d e r
separata cover a b o u n d copy of the A n i m a l Report of the
Federal Reserve Board covering operations during the
calendar year 1921.
Very truly yours,

Walter L. Eddy,
Assistant Secretary.

TO EACH GOVERNOR, F. R- AGENT,
AKD BRANCH MANAGER.