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FED ERAL RE SE R V E BANK OF NEW YORK Fiscal A g en t o f the U nited States r Circular N o. 3 8 8 3 1 L July 30, 19S2 J TREASURY FINANCING To all Banks, and Others Concerned, in the Second Federal Reserve D istrict: Secretary o f the Treasury Snyder announced today the offering of a one-year 2 percent certificate o f indebtedness, dated August 15, 1952, in exchange fo r the two outstanding issues o f certificates o f indebtedness which mature on August 15 and September 1, respectively, as follow s: Series C-1952, maturing August 15, 1952 in the amount o f $583,202,000; and Series D-1952, maturing September 1, 1952 in the amount of $1,832,446,000. An interest adjustment will be made with respect to the certificates maturing September 1, which are exchanged fo r the new certificates. Subscription books will open Monday, August 4. Copies o f the Treasury Department circular setting forth the terms of this offering and official subscription forms will be mailed to reach you on August 4, 1952. A llan S proul, President.