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FEDERAL RESERVE BANK OF CHICAGO GOVERNMENT BOND DEPARTMENT ROOM 361-209 SO. LA SALLE ST. S B. CRAMER, As!iT. CASHIER ADDRESS ALL COMMUNICATIONS 0. A. JONES, A SST, CASH I ER A . M , VOGT, ACTIN0 ASST . CA.5Hlrn RELATIVE TO GOVERNMEN T BONO~ P. 0. BOX B05 CIRCULAR DECEMBER No. 133. 12, 1918. REDEMPTION OF WAR SAVINGS CERTIFICATE STAMPS SERIES OF 1918 To the Bank or Trust Company Addressed: The following announcement is authorized by the Treasury Department at Washington: "From January 1 to January 10, 1919, inclusive, each Federal Reserve Bank and branch thereof, and any incorporated bank or trust company, is authorized to receive from an authorized agent of the first class, war savings certificate stamps, series of 1918, for collection or for exchange of the same for war savings certificate stamps, series of 1919, and United States thrift stamps, with cash adjustment in the following manner: "The aggregate value of war savings certificate stamps, series of 1918, received from such authorized agent of the first class for exchange shall be computed at the price of $4.24 for each such war savings certificate stamp. The bank or trust company making the exchange shall then deliver, in exchange therefor to such authorized agent of the first class, war savings certificate stamps, series of 1919, computed at the price of $4.12 each to the extent that the same may be delivered without exceeding the aggregate value of the war savings certificate stamps, series of 1918, received for exchange and computed as above required. Any balance remaining of such aggregate value shall be paid by delivery of U. S. thrift stamps, at 25 cents each, to the extent that may be done without exceeding such balance, and any balance remaining shall be paid in cash. Such exchange may be made only on presentation by the authorized agent of the first class of his certificate of appointment for sale of war savings certificate stamps, series of 1918, bearing facsimile signature of the Secretary of the Treasury. "An incorporated bank or trust company receiving war savings certificate stamps, series of 1918, for collection or exchange is authorized to deliver, on or before January 20, 1919, such war savings certificate stamps, series of 1918, so received to the Federal Reserve Bank of its district, together with a statement setting forth the name of the authorized agent of the first class from whom the same may have been received, and the number of stamps received from such agent. On receipt thereof the Federal Reserve Bank, as fiscal agent of the United States, will pay such bank or trust company $4.24 in respect of each war savings certificate stamp, series of 1918, so delivered, or, at the option of such bank or trust company, will deliver, in lieu of paying cash, war savings certificate stamps, series of 1919, computed at $4.12 each, and U.S. thrift stamps computed at 25 cents each, and cash to an aggregate not exceeding the aggregate value of the war savings certificate stamps, series of 1918, computed at $4.24, so received. "The foregoing provisions apply only to war savings certificate stamps, series of 1918, not affixed to war savings certificates, and apply only to collection or exchange of stamps held by authorized agents of the first class. Banks and trust companies shall not make such collection or exchange except for persons who are duly authorized agents of the first class and in the manner above set forth. (Signed) W. G. McADOO, Secretary of the Treasury." Additional copies of this circular will be furnished upon request for distribution to Agents of the First Class for the sale of War Savings Certificate Stamps and Thrift Stamps. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FEDERAL RESERVE BANK OF CHICAGO Government Bond Department
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