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IEX·OPPICIO MJEM•ER.

W. P, Gl. HARDING, GIOYIRNOR
PAUL Jl, WARBUR&, VtCI GIOY. . ~OIJ
FREDERIC A. DELANO
·· ·· ··
ADOLPH C. MiLLER
CHARLES S. HAll LIN

x-s4s

WILLIAM Gl. JlcADOO
SICRUAIIY OF THI TRIAIUIY
CHAIRMAN

JOHN SKELTON WILLIAMS
COMPTROLLER OP THI CURRINCY

FEDERAL RESERVE BOARD

H. PARKER WILLIS, SICRITARY
SHERMAN P. ALLEN, AliT. SICIITAIY
AND FISCAL AGINT

WASHINGTON

ADDRit88 IIRPL. Y TO

FEDERAl. RESERVE BOARD

DIVISION OF AUDIT AND EXAMINATION

MJ-JCO
Ms.rch 29, 1918

Dear Sir:
Beginning April l, 1918 weekly reports of Liberty
loan operations, Form 104, nay be discontinued and a monthly
report of these operations as at close of business on the
last day of each month, using the same Form 104, r.ay be substituted.

It is essential that these monthly reports reach

us at as early a date as possible after the close of business
of the report tlonth.
Very truly yours,

Assistant Secretary

Federal Reserve Agent,