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CIRCULAR NO. 16.

FEDERAL RESERVE BANK OF N E W YORK
62

CEDAR

STREET

FEBRUARY 3,

1915.

To THE CASHIER:

You are advised that until further notice this bank has established the following rates of
discount:—
For notes, drafts and bills of exchange having maturity at time of discount of not more than thirty days

4%

For notes, drafts and bills of exchange having maturity at time of disAlAJo

count of more than thirty days and not more than ninety days
For agricultural paper maturing in over ninety days but not over six
months




5%

Respectfully,
B E N J . STRONG, JR.,

Governor.