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FEDERAL RESERVE BANK
OF N E W YORK
Government Bond
Department

Circular No. 332, December 31, 1920,
Supplementing Circular No. 323. dated December 9. 1920.

Permanent Fourth Liberty Loan 4H Per Cent Coupon Bonds
Ready for Delivery on and after January 5, 1921

To all Banks, Trust Companies and Savings Banks
in the Second Federal Reserve District:
Due to an advanced supply of permanent Fourth Liberty Loan 4*4 per cent, bonds
of all denominations with all future coupons to maturity attached which we have received
from Washington, we are prepared to begin making deliveries on and after Wednesday,
January 5, 1921, in exchange for the temporary bonds of that issue.

Those requests which

have come to us in response to our Circular No. 323, stating that we would receive such
temporary bonds in advance of January 15, will have immediate attention on January 5,
and additional exchanges will be made as and when further requests are received.
The permanent bonds will also be sent, upon application, on and after January 5 to
depositaries of public moneys expecting to facilitate such exchanges by receiving from us
deliveries of the permanent Fourth 4 ^ s against collateral security pledged.




Very truly yours,
J.

H.

CASE,

Acting Governor


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102