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FEDERAL RESERVE BANK OF CHICAGO 79 WEST MONROE STREET April 18, 1918. Circular No.76. TO STATE BANKS AND TRUST COMPANIES IN MICHIGAN1Mr. F. W. Uerrick, Banking Cormnissioner for the State of Michigan, has advised the Treasury Department of the United States that the State Banking Department of Michigan will rule that Michigan state banks and trust companies have authority to deposit collateral as required by Federal Statute, any amendments thereto, and Federal Departmental Rulings, in order to qualify as depositaries for United States funds. We are advised by the Treasury Department that in view of the above ruling, incorporated state banks and trust companie~ in Michigan which have qualified in accordance with the terms of Treasury Department Circular No. 92 may be designated as special depositaries for the purpose of paying by credit, when due, amounts payable on subscriptions made by or through them for Liberty Loan Bonds and Treasury Certificates of Indebtedness. We enclose 7orm r, giving instructions to banks applying for depositary privileges. All communications regarding the deposit of the proceeds of Liberty Loan Bonds and Treasury Certificates of Indebtedness should be addressed to Depositary Bank Division, Government Bond Department, Post Office Box 805, Chicago, Illinois. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Respectfully, JABS B. llcDOOGAL, Governor.
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