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FEDERAL RESERVE BANK OF CHICAGO 79 WEST MONROE STREET July 31, 1918. Bulletin No. 1U5. TO THE MEMBER BANK ADDRESSED: Under date of December 27th, 1917 you were furnished a special applicatio n for discount form to be used for advances for per~ods of fifte8n days or less , against eligible bills receivable of varying maturities. This form was offerAd tor use as an alternative to the execut i on of a member bank's collateral note whic'h requires revenue stamps. Effective August 2nd , the discount rate for advances made on the special application form referred to, will be 4½ per cent . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Respectfully, JAMES B. McDOUGAL , Governor.