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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 1889 October 24, 1938 SUBSCRIPTION BOOKS TO CLOSE OCTOBER 25, 1938 On Subscriptions for Reconstruction Finance Corporation % Percent Notes of Series P, Due November 1, 1941 To all Banking Institutions and Others Concerned in the Second Federal Reserve District: In accordance with instructions received today from Secretary of the Treasury Morgenthau the subscription books on subscriptions for Reconstruction Finance Corporation 7/s percent notes of Series P, dated and bearing interest from November 1, 1938, due November 1, 1941, will close at the close of business, Tuesday, October 25, 1938, at which time also the offer to purchase Series K notes of the corporation will terminate. Any subscription for the notes addressed to a Federal Reserve bank or branch and placed in the mail before midnight, Tuesday, October 25, 1938, as evidenced by postoffice cancellation will be considered a timely subscription. GEORGE L. HARRISON, President.