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CIRCULAR N O . 108 Vx/OA-dk < FEDERAL RESERVE BANK OF N E W YORK July 15, 1918. T o THE C A S H I E R , SIR: I take pleasure in announcing the following changes in the official staff of this bank, effective July 1, 1918: Mr. Louis F . Sailer, formerly D e p u t y Governor and Cashier, continues as D e p u t y Governor b u t retires as Cashier. M r . Laurence H . Hendricks, formerly assistant cashier, has been elected Cashier. M r . E. R. Kenzel, formerly assistant cashier, has been elected Manager of Investments. M r . L. R. Rounds, formerly acting assistant cashier in the Bond Issue Division, has been elected assistant cashier. M r . I. W. Waters, formerly acting chief clerk, has been elected an assistant cashier. Mr. John E. Raasch has been elected assistant cashier. Mr. Dudley H . Barrows has been elected assistant secretary, effective February 13. 1918. Facsimile of the signatures of all of the officers now authorized to sign on behalf of the bank are within. Please cancel all previous instructions. Respectfully, B E N J . STRONG, Governor. Mr. Mr. H. ROBERT TREMAN, ajw. Mr. JAMES Mr. F. Deputy Governor, will sign: HENDRICKS, ^^J^(^JiA^^M-^l^^- JOSEPH D. HIGGINS, Cashier, will sign: GILBERT E. CHAPIN, HERBERT CASE, Deputy Governor, will sign: Mr Loms p SAILER> D e p u t y GovernOT| will sign: Mr.EDwraR. KENZEL, Manager of Investments,will sign f ~"> Asst. Cashier, will sign: +#&su4? Mr. Mr. J. K^fSd^ Deputy Governor, Counsel and Secretary will sign: H. Governor, will sign: r£A*t<yiA^^ CURTIS, LAURENCE Mr. BENJAMIN STRONG, Assistant Cashier, will sign: Mr. ARTHUR W. GILBART, Asst. Cashier, will sign: (h Mr. J. WILSON JONES, Assistant Cashier, will sign: Mr. ADOLPH J. LINS, Asst. Cashier, will sign: Mr. WALTER B. MATTESON, Assistant Cashier, will sign: lA^TO Mr. LESLIE R. ROUNDS, Asst. Cashier, will sign: Mr. I. WARD WATERS, Assistant Cashier, will sign: £ Mfsttfta Mr. JOHN E. RAASCH, Assistant Cashier, will sign: Mr. HOWARD M. JEFFERSON, RAY M. GIDNEY, H. BARROWS, Assistant Secretary,will sign: Auditor, will sign correspondence: Mr. Mr. PIERRE JAY, Chairman, and Federal Reserve Agent, will sign: Mr. MR. DUDLEY U4<1— GEORGE FOSTER PEABODY, will sign: Assistant Federal Reserve Agent, will sign: Deputy Chairman,