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FEDERAL RESERVE BANK OF NEW YORK Cash Department ("Circular No. 694"! LNovember 17, 1925 J New Counterfeit $10 Gold Certificate To all Banks, Trust Companies and Savinqs Banks in the Second Federal Reserve District: The Treasury Department in its circular letter No. 566 describes a new counterfeit $10 Gold Certificate as follows: $10 Gold Certificate; check letter " C " ; face plate number indistinct, either 40 or 42; H. V. Speelman, Register of the Treasury; Frank White, Treasurer of the United States; portrait of Michael Hillegas. This note is a photo-mechanical production on two thin sheets of paper between which a few threads have been distributed. All of the counterfeits detected to date bear serial No. H1692883. The lathe work in the border is smudgy and indistinct, and the note as a whole is so poorly executed that it should be easily recognized even by careless handlers of currency. The back of the note is dim and printed in a shade of yellow which should instantly suggest its spurious quality. Very truly yours, BENJ. STBONG, Governor.