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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular N o. 3 5 1 5 "1 L N ovem ber 30, 1949 J ANNOUNCEMENT REGARDING NEW TREASURY OFFERINGS To all Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: The following announcement by the Secretary of the Treasury was given to the press this afternoon: The subscription books will open on Monday, December 5, for the exchange of a series of certificates of indebtedness maturing December 15j 1949, and three series of Treasury bonds called for redemption on December 15,1949. The certifi cates are outstanding in the amount of $519,153,000 and the three Treasury bond issues are outstanding in the aggregate amount of $4,375,100,150. Holders of these securities will be offered a four and one-quarter-year one and three-eightlis percent Treasury note in exchange. Secretary Snyder also announced that holders of the certificates of indebted ness which will mature January 1, 1950, will be offered a one-year one and oneeighth percent certificate of indebtedness in exchange. Additional copies of this circular will be furnished upon request. A llan S proul, President.