View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

79 ,WEST




August 21, 1917.

Circular No. 25

Supplementing our announcement of August 20th~ in respect to the
deposit of proceeds of$ 250,000,000.00 United States 3½1 Certificates of
Indebtedness to be dated August 28th and maturing Nov-emb:e:r :30, 1917, we beg
to advise you as follows:
The proceeds of the Certificates of Indebtedness to be deposited in
any one depositary bank shall not exceed the amount of the Certificates subscribed for by or through said bank.
The Certificates of Indebtedness 1 themselves will, of course, be
acceptable as collateral for any part or---kll of such deposits.
In order,
however, tQ entitle banks which have already qualified as depositaries for
Libertt tuin deposits to receive deposits from the proceeds of the Certificiltes of I ~dabtedness in cases where such Certificates. have been sold by them
and delivered to their customers, other approved collateral of the classes •
s pecified in Trea sury Department Circular No. 81, dated May 29th, as
amended and supplemented, will be accepted for such depo s its, provided that
at lea s t ten per cent of the sum on deposit mus~ be secured by United States
Government Bond s or Certificates of Indebtedness or Interim Certificates
therefor. All incorporated banks and trust companies desiring to apply fot
such de pos it s are r equested t o us e the following form of application, this
form to be used in all cases, whether banks have already qualified for
Government deposits or not.
Federal Reserve Bank of St. Louis

Federal Reserve Bank of Chicago,
Fiscal Agent of the United States.
The undersigned bank or trust company, pursuant to due action of its Board of Directors, hereby
makes application for the deposit with it of all or
any part of the subscription price of the United
States Bonds and Certificates of Indebtedness heretefore or hereafter from time to time subcribed for, by
or through the undersigne~ bank or trust company, and
assigns and pledges to ~nd with the Federal Reserve
Bank of Dhicago, as Fiscal Agent of the United States,
as c q.l.Jcateral for such deposits as ' shall be made from
time to time, pursuant to this application, the securities described in the following list.