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 Federal Reserve Bank of New York; check letter 'A' plate No. 121; Carter Glass, Secretary of the Treasury; John Burke, Treasurer of the United States; portrait of Cleveland.

"This counterfeit is a steel-plate production, with the exception of numbering, and is a particularly close and excellent piece of work; even the scrollwork of the borders is uniform and good. The numbering is clean and clear, and appears to have been done serially, as no two notes yet received bear the same number. It is printed on special paper which when flat closely resembles the genuine, but is too brittle when creased.

"The face of the bill is unusually deceptive, the seal and numbering being particularly good; the faults in the portrait are actually microscopic, consisting in a slight broadening of portrait of Cleveland; the texture of the paper, however, together with the frequent bunching of the silk fiber inserted, should detect this counterfeit."

Wally ecstatically brandished one of his twenties beside one of the fifties before me.

"They haven't got out the circular on the fifty yet; they just 'phoned round about it this morning; and I've these two already. Made by the