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FEDERAL RESERVE BOARD WASHINGTON address official correspondence t o the federal reserve board Xr-7015 November 10, 1931. SUBJECT: Code Word to cover Telegraphic Transactions in Treasury B i l l s . Dear Sir; In connection with telegraphic transactions in Government s e c u r i t i e s between Federal reserve banks, the code word "NOXCULT" has been designated to cover a new issue of Treasury B i l l s , dated November 16, 1931, and maturing February 15, 1932. This word should be inserted in the Federal r e serve telegraph code book, following the supplemental code word "N0XCU3IT" on Page 172. Very t r u l y yours, J . C. No el 1, Assistant Secretary. TO GOVERNORS OF ALL F. R. BANKS.