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FEDERAL RE SE R V E BANK O F NEW YORK Fiscal A g en t o f the U nited States Circular No. 3 9 9 7 July 8, 1953 2*4 PE R C E N T T R E A S U R Y C E R T IFIC A TE S OF IN DEBTEDNESS O F SERIES C-1954 Basis o f Allotment To All Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: T he follow in g statement was made public tod a y: The Treasury today announced a 67 percent allotment on subscriptions fo r more than $100,000 each fo r the cash offering: o f 2 y> percent Tax A nticipation Certificates o f Indebtedness o f Series C-1954. None o f these subscriptions will be allotted less than $ 100,000 and smaller subscriptions w ill be allotted in full, as previously announced. Reports received from the Federal Reserve Banks show that subscrip tions total over 8 2 billion dollars. V Details by Federal Reserve Districts as to subscriptions and allotments will be announced when final reports are received from the Federal Reserve Banks. A llax S proul, P resident.