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FEDERAL RESERVE BANK OF NEW YORK f Circular No. 1 4 6 2 1 I October 20, 1934 J REGULATION T, SERIES OF 1934 To Members of National Securities Exchanges, Brokers and Dealers in Securities, and Banking Institutions, in the Second Federal Reserve District: With my Circular No. 1424 dated September 28, 1934, I transmitted copies of Federal Reserve Board Regulation T, Series of 1934, entitled "Extension and Maintenance of Credit by Brokers, Dealers, and Members of National Securities Exchanges." The copies so transmitted were printed by this bank before copies of the official print of the regulation were available, and a subsequent comparison with the official print has indicated certain changes which should be made in the copies printed by this bank. These changes are listed below and to avoid possible misunderstandings you are requested to make such changes in the copy of that print which you received with my Circular No. 1424 dated September 28, 1934, and in all other copies in your possession. In the fourteenth line of section 3(b) on page 4, insert the word "own" before the word "account" at the beginning of the line. Insert a comma after the word "exchange" in the third line of paragraph 4 in section 3(f) on page 5. In the next line of the same paragraph the word "endorsement" should be changed to "indorsement". Change the numbers (1) and (2) to (a) and (b) in paragraph 8 of section 3(f) near the end of page 5. Insert a comma after the word "indirectly" in the fifth line of section 4(a) on page 7. Insert the word "section" instead of the word "subsection" at the beginning of the fifth line in section 4(c) on page 7. Eliminate the comma after the word "Sundays" in the seventh line of section 4(e) on page 8, and eliminate the comma after the word "account" in the nineteenth line of section 4(e). Eliminate the word "and" after the word "involved" in the fifth line of the third paragraph of section 6 on page 10. Insert the word "shall" instead of the word "should" in the last line of section 7(a) on page 11. Insert the word "old" instead of the word "such" at the end of the fifth line in section 7(c) on page 11. Eliminate the article " a " after the word "only" in the third line of section 8(f) on page 13. Insert a colon instead of the period at the end of the first paragraph in the Appendix on page 17. Eliminate the second paragraph reading as follows: "Sec. 3(a) When used in this title, unless the context otherwise requires—" in the Appendix on page 17 and insert instead the following: Sec. 3.(a) * * * Eliminate all other asterisks between paragraphs as they appear on pages 17, 18, 20, 21 and 22. Additional copies of this circular will be furnished upon request. J. H. CASE, Federal Reserve Agent. (uu) FEDERAL RESERVE BANK OF N E W YORK October 22, 1934. HEW COUNTERFEITS To Member Banks in the Second Federal Reserve District and others concerned: At the request of the Secret Service Division of the Treasury Department, New York District, we are forwarding to all member banks in the Second Federal Reserve District and others concerned the following information v/hich we have received from the Secret Service Division describing two counterfeit Federal Reserve notes which we are informed have again appeared in active circulation in this area: NEW AND DANGEROUS COUNTERFEIT $10 FEDERAL RESERVE NOTE: On the FEDERAL RESERVE BANK OF KANSAS CITY, MISSOURI; Series of 1928 B; Check Letter '?•; Face Plate No. 41; Back Plate No. 8; serial numbers vary; portrait of HAMILTON. This is apparently a photo mechanical reproduction of exceptionally good workmanship and is calculated to deceive even experienced handlers of currency. The right side of HAMILTON*S face appears to have been retouched with a fairly heavy black line, probably because the face had originally been found to converge with the cross hatch lines in the portrait background. NEW AND DANGEROUS COUNTERFEIT $30 FEDERAL RESERVE NOTE: On the FEDERAL RESERVE BANK OF DALLAS, TEXAS; 1928 B Series; Check Letter 'Kf; Face Plate No. 50; Back Plate No. 5; serial numbers vary; portrait of JACKSON. This is also a dangerous counterfeit of the same workmanship as the $10 note described above, and care should be taken by experienced cashiers in handling notes of these denominations. The Treasury Department, Secret Service Division, has requested that banks and others to whom counterfeit Government obligations may be presented endeavor when practicable to obtain information regarding their source and history. Any information of this kind should be forwarded to the Treasury Department, Secret Service Division, Customs House, New York, N. Y. George L» Harrison, Governor,
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