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Circular No. 39 F E D E R A L R E S E R V E B A N K Series of 1921 OF DALLA S Ju&6 23 , 1921* NOTICE OF DIVIDEND TO THE CASHIER, Dear S‘ 4ri We ta'ke pleasure in advising you that at the last regular meeting of our Board of Directors, a dividend in full at the rate of per annum was declared on your investment in stock of this-bank, for the period of Janu ary 1st, 1921 to June 30th, 1921. In the case of your bank this dividend will amount to I which amount will be credited to your reserve account on our 11 Paso Branch books on June 30th, 1921, and you are, therefore, authorized to charge your reserve account with this amount on said date, bearing in mind that this por tion of your earnings is under the provisions of the Federal Reserve Act, exempt from all taxation, including income and excess profit taxes. Yours very truly, Governor This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)