Full text of Federal Reserve Bank of New York Circulars : 1428. Interpretation of Regulation T, Ruling no. 4

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE BANK

S

OF NEW YORK

r Circular No. 14281
L October 3. 1934 J

INTERPRETATION OF REGULATION T
Ruling No. 4

To National Securities Exchanges in the
Second Federal Reserve District:

For your information I quote below the text of a telegram which
I have received today from the Federal Reserve Board:
" I n response to an inquiry as to applicability of section 4(e) of
Board's Regulation T in light of word 'additional' preceding word
'margin' in first sentence, Board has replied that the subsection refers
to all margin which must be demanded in order to comply with
Regulation T . "

Additional copies of this circular will be furnished upon request.




J. H. CASE,

Federal Reserve Agent.

(tt)

FEDERAL RESERVE BANK
OF N E W YORK
October 3, 1934.

M

COUNTERFEIT

To Member Banks in the Second Federal
Reserve District and others concerned:
At the request of the Secret Service Division of the Treasury Department,
Neu York District, we are forwarding to all me Liber banks in the Second Federal
Reserve District and others concerned the following information which we have received from the Secret Service Division describing a new counterfeit Federal
Reserve note:

COUNTERFEIT $5 FEDERAL RESERVE NOTE;
On the FEDERJO. RESERVE BANK OF l?M YORK, IT. Y.; Series of
19E8 A; Check Letter »Bf; Face Plate No. 28; Back Plate No. 327;
bearing facsimile signatures of v7. 0. WOODS and A. W. HSLLON;
portrait of LINCOLN* Serial number of specimen at hand is
C16474231A, but varies on other notes. Serial numbers of notes
on the FEDERAL RESERVE BANS OF NEW YORK should begin with the
letter »B».
This note is a good reproduction on one piece of paper from
photo-mechanical plates. The portrait of LINCOLN is dark and
presents a lifeless appearance, especially in the eyes. The back
of the note is exceptionally well executed and is dangerous. It
is over one-eighth of an inch shorter in length than the genuine,
and nearly an eighth Of an inch shorter in width* On the back of
the note, along the top of the words fFIvE DOLLARS* at the bottom
of the bill, the shading on the counterfeit is solid and heavy green,
whereas on the genuine the cross-hatch lines can be readily distinguished. The shading around the words TFIVET in each corner of
the bottom of the back of the note is likewise heavier and darker
than the genuine.
Care should be exercised in handling notes of
this denomination*
If any counterfeits of this description come to your attention
you should forward them, together with all information available as
to their sources, to the nearest office of the United States Secret
Service in your territory. For your information, offices of the
Secret Service are located in New York State in New York, Syracuse
and 3uffalo.




George L. Harrison,
Governor.