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CIRCULAR NO. 133. FEDERAL RESERVE BANK OF N E W YORK CERTiriCATES OF INDEBTEDNESS DEPARTMENT December 30, 1918. UNITED STATES TREASURY CERTIFICATES OF INDEBTEDNESS DEAR SIRS : Your quota for the Series 5C issue of Certificates of Indebtedness is This issue was announced in the circular sent you on Saturday, the 28th inst., and is for a minimum amount of $750,000,000. Subscriptions open Thursday, January 2, 1919, and close Tuesday, January 7, 1919. This is the largest quota thus far in the current series, indicating that the immediate needs of the government are extremely heavy. Those banks that have taken their full quotas hitherto are requested to continue their much appreciated cooperation. Those that have not taken their quotas are strongly urged to take their full share of the burden in this issue, thus fulfilling their obligation to the government. Yours very truly, n Director of Sales.