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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 1 9 1 6 February 6, 1939 SUBSCRIPTION BOOKS CLOSED On Offering of Reconstruction Finance Corporation % Percent Notes of Series R, Due January 15, 1942 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 for the offering of Reconstruction Finance Corporation % percent notes of Series R, dated and bearing interest from February 15, 1939, due January 15, 1942, were closed at the close of business today, Monday, February 6, 1939. Any subscription for the notes addressed to a Federal Reserve Bank or branch and placed in the mail before midnight, Monday, February 6, 1939, as evidenced by postoffice cancellation, will be considered a timely subscription. GEORGE L. HARRISON, President.