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48 Propoe.ed fo~ ~etter of approval to fEDERAt ~QkBtl· RJ!SERVE CAPIV..L BOARD ISS~ C~fTEE Washington ~----19__;,.,.. • Deilr SU·l is a~kncmledgecl ot ....,your letter ot' - - - - - - - - - l\e4aip' inf onr¢ng the Cottmi'tee tha.t you desil'e to sell a.n issue of $_._ _ __ of _....._ _ _ _ _ _ _ _ _ _ of the and asking the ot a ~blic l~ Comn~ttee fol" an e:.r.,presCJi.on of opinion as to the propr1e'7 sale of these seo~ritiea under ,present oir~tancoa. the iaota stated b1 you and from infor-mation 1n the C~ttee's posaeasio.n, it does not appear that the sale of these securities under the c1rQW'llStanees reeite4 wwl.a. ,prove pretutic1al to the JNb'lic interest at this tirre, and the OGmllittee would., tbetefon, interpose no objeotioP to euch sale. It is, of course, understood that the only q,uestion ccm- ·. si'denll lay the C~ttee propo8ecl use of the tbil tirre,. the pro~eeds CC~lllll1ttee intrin•ic value of the to tho are compatible with the .Jillblio interest at does not in az)y caee undertake to pa.sa upoD the aeo~r!ties C~ttee'• a~tio~ ')' is whether or not the object of tbis lou and :tl'» in offered. Any prospectus t~e ~tter a~ou~4 nake ~king i~is po~at reference quite clear.
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