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FE D E R AL R E SE R V E BANK OF N E W YORK Fiscal Agent of the United States rCircular No. 3 7 3 2 T L July 12, 19S1 J T R E A S U R Y FINANCING Press Statement To all Banks, and Others Concerned, in the Second Federal Reserve D istrict: The following statement was made public today: Secretary o f the Treasury Snyder announced today that the subscription books w ill open on Monday, J u ly 16, for the exchange o f the l 1 percent /^ Treasury Notes o f Series E-1951, in the amount of $5,351,142,000, maturing August 1, 1951. The holders o f these securities w ill be offered an eleven-month 1 % per cent certificate o f indebtedness. Additional copies o f this circular will bo furnished upon request. A llan S proul, President.