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271 R-470 BOARD O F G O V E R N O R S OF THE FEDERAL RESERVE SYSTEM WASHINGTON a d d r e s s o f f i c i a l c o r r e s p o n d e n c e t o t h e b o a r d May 24, 1939 Dear Sir: In connection with telegraphic transactions between Federal Reserve banks covering Government securities, the following code word has been designated to cover a new issue of bonds of the Home Owners' Loan Corporation: HQWLQW - li-% Bonds, Series M, 1945-47, dated and bearing interest from June 1, 1959. try truly yours C. Noell, Assistant Secretary TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS