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FEDERAL RESERVE BANK OF CHICAGO 79 WEST MONROE STREET Circul ar No . 33 October 15 , 1917. TO ALL INCORPORATED BANKS AND TRUST COMPANIES IN FEDERAL RESERVE DISTRICT NUMBER SEVEN: PAYMENTS BY CREDIT FOR BONDS OF THE SEC OND LIBERTY LOAN . Under the provisions of Trea sury Department Circular No . 92 , any in orporated bank or trust ompany in the Se venth Federal Reserve Di s tri t de s iring to par ti c i pate in depos it s of the pro eeds of bond of t he Second Liberty Loan and of certificate s of indebtedne ss of the United States is sued under the act of Congress appr ov ed September 4, 1917, should make ap plication t the Federal Reserve Bank of Chi ago on Form H, Lib erty Loan and accompany s uch application by a certi f ied copy of re s olutions dul y adopted by its boa rd of directors in Form J . Libert y Loan . I n fixing the maximum amount of depo s it s f or which it wil l ap ply, a bank or trust company should be guided by the amount of the payments which it expects t o make , for its elf and it s cus tomers , on a c ount of allotment s of s uch bonds and certi fi cate s , and, al s o, by any s tatutor y limitations upon the amount of deposits whi ch th e a ppli ant ban k or trust ompany may rec ei ve fro m one depo ait or . Any ppli ation may be r ejected or t he applicant may be de s ignate d for a s:rtaller maxi mum a mount than that applied for . After recei vi ng the re ommendation of the Federal Reserve Bank of Chica go , the Secretary of the Trea sury will designate app ro ved depo s itar i es . All banks , whether or not previously de s ignated as depositaries will have to file a ne w application and res olution i n the f orms pre s cribed in sa id Depar t ment Circular No . 9 . Copies of the circular , as well as a supply of application blanks , an be secure d fro m the Federal Reserve Bank of Chicago , Department L . No payments by credit can be made unti l after a bank has been designa ted a deposita ry and so notified . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FEDERAL RESERVE BANK OF CHICAGO .
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