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FEDERAL RESERVE BANK OF CHICAGO
79

WEST

MONROE

S TREET

DIRECTORS

OFFICERS
W. A . HEATH
JAMES B . Mc;DQUGAL GOVERNOR
C . R . MC:'KAY

W.F. M<:LALLEN SECRETARY
B .G . Ml:CLOUD CASHIER

5 . B. CRAM ER ASST.

W . F . M 9 LALLEN

CHAIRMAN AND FEDERAL RESERVE AGENT

DEPUTY GOVERNOR

DEPUT Y FEDERAL RE S ER V E AGENT

J. W. BLODGETT GRA ND RAPIDS , M I CH .
J.B. FORGAN CH l CAG O. ILLINOlS

E.L . .JOHNSON WAT ERLOO, IO W A

M . B . HUTCHISON OTT UM W A, I OWA

G . M . RE Y NOLDS CHI CA GO. I L L I NOIS

E .T. MEREDITH OES M OIN ES , IO W A

A.H .V OGEL MILWAU~E E . W I SCO N S IN

CASHIER

December 8, 1917.
Bulletin No . 91.

SHORT

┬Ěro

THE !AE!.,1BER

BANKS

TIME

ADVANCES

OF DISTRIC~ Nutv!BER

SEVEN :

This i s to advi se you that unt il fur t he r notice
we wi ll r e ceiv e ap pl i cat i ons f or the discount of eligible
bi l l s rece ivabl e of vary i ng matu rities , and United States
Go vernment Bonds or Cert ificates of I ndebte dne ss , f or
peri ods not exceed i ng fift een days , under t he terms and
conditions se t f orth in Sr, ec ial Form Appl ication , co py of
whi ch i s encl osed herewi th .
This plan i s offer ed as an a l tarnative t o handling
member banks ' collateral notes wh i ch now re quire re venue
s tamps , and is not i ntended t o apply , and will no t apply , to
the r edis c ount of paper in th e re gul ar way .
Re spe ctfully yours ,
JAMES B. McDOUGAL,
Governor .
(Encl osure )


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