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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