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F E D E R A L RESERVE B A N K OF N E W YORK Cash Department Circular No. 315 November 15, 1920 Five Per Cent. Redemption Fund Payments To All Member National Banks in the Second Federal Reserve / i l l s District: Effective t o d a y , N o v e m b e r 15, 1920, all deposits b y n a t i o n a l b a n k s in t h e Second F e d e r a l R e s e r v e D i s t r i c t for credit in t h e five p e r c e n t , r e d e m p t i o n fund held b y t h e T r e a s u r e r of t h e U n i t e d S t a t e s for r e d e e m i n g n a t i o n a l b a n k n o t e circulation a r e t o b e m a d e t h r o u g h t h e F e d e r a l R e s e r v e B a n k of N e w Y o r k , or t h r o u g h its Buffalo B r a n c h , in accordance w i t h t h e following provisions which supersede t h e provisions of o u r C i r c u l a r N o . 272 of April 2 0 , 1920, e n t i t l e d " F i v e P e r C e n t . R e d e m p t i o n F u n d P a y m e n t s . " All n a t i o n a l b a n k s located in t h e t e r r i t o r y assigned t o o u r Buffalo B r a n c h m a y m a k e s u c h deposits t h r o u g h t h a t B r a n c h , * while all o t h e r n a t i o n a l b a n k s in t h i s F e d e r a l R e s e r v e D i s t r i c t should effect such deposits t h r o u g h u s d i r e c t l y . F o r convenience a n d to facilitate t r a n s a c t i o n s in t h i s r e s p e c t it is s u g g e s t e d t h a t t h e following form of letter b e utilized in requesting such transfers: .192 FEDERAL RESERVE BANK OF NEW YORK, CASH DEPARTMENT, NEW YORK, N. Y. (or BCFFALO, N. Y.) DEAR SIKS: Please charge our account with you $ and arrange a payment in lawful money to the Treasurer of the United States for a like amount for the credit of the five per cent, redemption fund maintained by us for redeeming our bank note circulation. Kindly advise us when the transfer has been made. Yours truly, Name of National Bank Signature of Officer Title B y direction of t h e S e c r e t a r y of t h e T r e a s u r y i n s t r u c t i o n s on t h i s s u b j e c t were issued from t h e T r e a s u r y D e p a r t m e n t t o t h e n a t i o n a l b a n k s u n d e r d a t e of O c t o b e r 3 0 , 1920. Very truly yours, J. H. CASE, Acting Governor * The territory assigned to the Buffalo Branch of the Federal Reserve Bank of New York comprises the ten most westerly counties of New York State, as follows: Monroe, Livingston, Allegany, Orleans, Genesee, Wyoming, Cattaraugus, Niagara, Erie and Chautauqua.
@FedFRASER