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^ ,f n o W. P . G . HARDING, GOVERNOR PAUL M. WARBURG, VICE GOVERNOR FREDERIC A. DELANO ADOLPH C. MILLER CHARLES S. HAMLIN Ex-O fficio Members WILLIAM G. MCADOC SECRETARY OF THE TREASURY C h a ir m a n JOHN SKELTON WILLIAMS FEDERAL RESERVE BOARD COMPTROLLER OF THE CURRENCY H . P A R K E RR W I L L I S , SECRETARY S H E R M A N P . A L L E N . ASST. SECRETARY AND FISCAL AGENT WASHINGTON AD D R E SS R E P L Y TO FEDERAL RESERVE BOARD May 3, 1916. Federal Reserve Bank, G-entlemen: In connection with the release of United States bonds securing circulation, and similar transactions, it has occasionally happened that a Federal reserve bank desiring to deposit with the Treasurer of the United States an amount not an even multiple of $10,000 has made an independent shipment of currency to the Treas urer for the odd amount, at the same time requesting the Federal Reserve Board to make deposit of the balance in the nearest multiple of $10,000. Some banks, however, have adopted the practice of re questing the Board to make deposit of the exact amount required for the purpose of bond release, and for credit in the Gold Redemption Fund against Federal reserve notes, such additional amount as would bring the total deposit up to an even multiple of $10,000. This method has proved entirely satisfactory. We bring this matter to your attention for such assistance as it may give in handling deposits of odd amounts, in case you are not already following this method. Respectfully, Assistant Secretary.
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