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CIRCULAR N O . 155 (GUULCL) FEDERAL RESERVE BANK OF N E W YORK March 22, 1919. REDEMPTION OF SERIES 5-A, To U. S. TREASURY CERTIFICATES THE BANKS AND TRUST COMPANIES IN THE SECOND FEDERAL RESERVE DISTRICT: In view of the determination to open the Victory Liberty Loan campaign April 21st, 1919, it is a p p a r e n t t h a t as the proceeds from the Victory Liberty Loan will not reach the Treasury until after M a y (3th. 1919, U. S. Treasury Certificates of Indebtedness of Series 5-A which m a t u r e on M a y 6th, 1919, must, of necessity, be redeemed before the time when the J proceeds of t h e Loan can reach t h e Treasury. Accordingly, until further notice, we have been authorized, within the limitations prescribed by the Treasury D e p a r t m e n t and immediately upon presentation, to redeem i n c a s h a t par a n d a c c r u e d i n t e r e s t to d a t e of redemption Treasury Certificates of Indebtedness of this issue, namely Series 5-A dated December 5th, 1918, maturing M a y 6th, 1919, at the holder's option. R. H. TREMAN Deputy Governor.
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