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F E D E R AL R E SE R V E BANK OF N E W YORK Fiscal A gen t o f the U nited States C ircu la r N o . 15 7 4 A u g u s t 28. 1951 [ T R E A S U R Y F IN A N C IN G To all Banks, and Others Concerned, in the Second Federal R eserve D istrict: Secretary o f the Treasury Snyder has announced that holders of the 3 percent Treasury Bonds o f 1951-55, in the amount of $755,429,000, called for redemption on September 15,1951, and holders o f the 1^4 per cent Treasury Notes o f Series A-1951, in the amount o f $1,918,367,000, maturing October 1, 1951, will each be offered an eleven-month l 7 per /g cent certificate of indebtedness to be dated September 15 and October 1, respectively. The subscription books will open on Tuesday, September 4, for the exchange o f the Treasury Bonds o f 1951-55, called fo r redemption on September 15. The subscription books will open on Tuesday, Septem ber 18, for the exchange of the Treasury Notes of Series A-1951, maturing October 1. Additional copies of this circular will be furnished upon request. A llan S proul, President.