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FEDERAL RESERVE BANK O F CHICAGO 79 WEST MONROE STREET ~ IMPORTANT TO ALL BANKS AND BANKERS IN FEDERAL REJSERVE DISTRICT NUMBER SEVEN : For your information in f orward ing to this bank subsc riptions to the Liberty Loan , we wish to advi se you that cncorporated banks and trust companies may for ward in their own name the consolidated subscription s of their clients . In doing so it is not neces sa ry to send in the original s ig ned ~ppl i cation of the subscriber or to giv e the subscribers ' s name , but in order to protect itself on allotments a bank c onsolidat i ng subsc riptions in this way should be careful to give us the number and size of subscript i ons ; that is , how many subscriptions are included in the total and f or what amounts, for example : 10 of $50, 15 of $100 , 10 of $1000 , etc . If payment in full for $50 or $100 bond s er other prepayment has been made , such payment should also be forwarded with the application and summary , and the subsc ription s designated as "f ull paid" or " part paid". Notice of i nte ntion to make full payment in cash after allotment f or amounts in excess of $10 , 00~ should be given at the time the subscript ion i s tend ered , a s two weeks ' no tice of intention to make s uch payment is required. When payment is made with Certificates of Indebtedness afte r allotment, such payment will be accepted without advance notice, irrespective of the amount. Forms for detailing subscript ion s are now being prepared and may be had upon application . Individual s , firms, pri vate banks , investment bank ers or corporations othe r than incorporated banks and trust companies will be required when plac ing subscriptions direct wi t h th e Federal Reserve Bank , to furnish us the o riginal subscr i pt i on blanks i n connection with every subs cription. Their attention i s . called, however, to the fact tha~ such subsc riptions may be placed by them through incorp orated banks and t rus t companies in th e manner mentioned above . The Certificates of Indebtedness issued by the Tr easury Department may be tendered in lieu of the 21a deposit re quired with all subscriptions . When so deposited interest wi ll continue to accrue on the Cer tificate s . It is suggested that subscriptions be forwarded daily, as the Secretary of the Treasury reserves the right to close t he books before June 15th. As it is poss ible that at some subsequent date the Sec retary may re qu ir e a detailed record of individual subscriptions and allotments it is also sug gested that each bank keep in pe rman ent f orm a complete daily record of all subscri ptions received and report ed a nd the payments in relation to the sub sciptions . Sample forms for this purpose are also being prepared and will be f urnished upon reques t. May 23, 1917 . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FEDERAL RESERVE BANK OF CHICAGO
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