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FEDERAL RESERVE BANK OF NEW YORK Certificates of Indebtedness Department [Circular No. 44ll [February 21, 1922 J Treasury Certificates Maturing March 15, 1922 Redeemable in Cash At Holder's Option on and After February 23, 1922 To all Banks, Trust Companies, Savings Banks, Bankers, Investment Dealers and Principal Corporations in tlie Second Federal Reserve District: The Secretary of the Treasury has authorized this bank on and after Thursday, February 23, 1922, and until further notice, to redeem in cash before March 15, 1922, at the holder's option, at par and accrued interest to the date of such optional redemption, Treasury certificates of indebtedness of Series TM—1922, dated March 15, 1921, Series TM2—1922, dated August 1, 1921, and Series TMS—1922, dated September 15, 1921, all maturing March 15, 1922. Very truly yours, BENJ. STRONG, Governor