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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular 04 1 [DecemberNo. 319452 J 19, VICTORY LOAN DRIVE Credit for Sales of Savings Bonds and Savings Notes prior to December 31, 1945 To all issuing Agents in the Second Federal Reserve Qualified for Sale of Series E Savings Bonds: District Although the subscription books for the three issues of marketable securities offered during the Victory Loan Drive were closed at the close of business December 8, 1945, sales of United States Savings Bonds, Series E, F and G, and of Treasury Savings Notes, Series C, will continue. All subscriptions f o r savings bonds or savings notes processed through the remainder of the month of December will be included in the national, state and county totals for the drive. If payment for Series C notes, Series F o r G bonds, or Series E bonds to be issued by us, is made by check drawn on us, or by charge to a reserve or nonmember clearing account maintained with us, the subscription and check or authorization to charge the account, as the case may be, should be received by us not later than the close of business December 31. If payment is made by a check on another bank, the subscription and check should be received by us in sufficient time so that the proceeds of collection will be available to us in finally collected funds not later than December 31. If payment is made by a banking institution by credit to a war loan deposit account, the subscription and advice of credit should be received by us not later than the close of business January 2, 1946. Sales of Series E bonds by issuing agents will be included in the totals for the drive, provided the stubs of such bonds and payment therefor are in our hands not later than the close of business January 2, 1946. Issuing agents qualified on a prepayment basis for sale of bonds to employees enrolled in the payroll allotment plan are reminded that their sales will not be credited to the drive unless the stubs of bonds issued have been received by us not later than January 2, notwithstanding that such agents have previously paid the full issue price of the bonds. W e earnestly request all issuing agents to have their remittances and reports of sales in our hands well in advance of January 2, in order to assure that all such sales will be credited toward the goals of the Victory Loan Drive. A L L A N SPEOUL, President.