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FEDERAL RESERVE BANK OF CHICAGO 79 WEST MONROE STREET June 21, 1917. Circular No. 20. TO ALL I NCORPORATED BANKS AND TRUST COMPANIES IN FEDERAL RESERVE DISTRICT NUMBER SEVEN: The Trea sury Department has suggested that in order to hasten action after allotment that banks and trust companies in this District PREPARE AND HOLD FOR FURTHER INSTRUCTIONS allotment notices to their indiv idual subscribers on all subscriptions up to and including $10,000.00 each. Thi s sugge stion is made, however, by the Treasury Department without in any way anticipating the final decision of the Secretary of the Treasury as to tho basis of final allotment, and does not change previous iastructions as to allotting all individual subscriptions for $50.00 and $100.00 each upon ' application. Th6 Treasury Department will not prescribe a form of sub-allotment notice for the use of banks and tru st companies handling subscriptions in gr oups, but for your information we are enclosing herewith copies of three forms of letters which will be used by this Bank in advising its individual subscribers of their allotment. No allotment lett er forms or blanks for the use of banks and trust companies will be available at thi s Bank. Each bank, therefore, must prepare it~ own supply and advise it s own customers of their allotment, ~s igning its own name to the sub-allotment letters distributed by it; but such banks and trust companies must be careful to sub-allo t to their cus t omers on exactly the same basis as such customers would be allotted had they subscribed directly through thi s Bank. This bas i s will be set forth in the allotment letter which will be directed to you as soon as allotment is made. In order that the work of making deliveries may be facilitated, we r·espectfully request that all banks and trust companies, upon receipt of our allotment notice , apply for as large denomination interim certificates as possible, as such certificates may be exchanged at any time for any denomination of bonds or interim certificates desired. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Respectfully, FEDERAL RESERVE BANK OF CHICAGO.
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