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FEDERAL RESERVE BANK
OF NEW YORK

Certificates of Indebtedness

("Circular No. 447"|

Department

[March 21, 1922 J

Treasury Certificates Maturing April 1, 1922
Redeemable in Cash
At Holder's Option on and After March 21, 1922

To all Banks, Trust Companies, Savings Banks, Bankers, Investment Dealers
and Principal Corporations in the Second Federal Reserve District:

The Secretary of the Treasury has authorized this bank on and after Tuesday,
March 21, 1922, and until further notice, to redeem in cash before April 1, 1922, at
the holder's option, at par and accrued interest to the date of such optional redemption, Treasury certificates of indebtedness of Series C—1922, dated November
1, 1921, maturing April 1, 1922.




Very truly yours,
BENJ. STRONG,

Governor