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FEDERAL RESERVE BANK OF DALLAS
FISCAL. A G E N T O F T H E U N IT E D S T A T E S

Dallas, Texas, May 4, 1950

PRELIMINARY ANNOUNCEMENT
EXCHANGE OFFERINGS

To All Banking Institutions, and Others Concerned,
in the Eleventh Federal Reserve District:

The Secretary of the Treasury is releasing this afternoon
the following announcement regarding the refinancing of the
June 1 and July 1 Certificates:
“ Secretary of the Treasury Snyder announced today
that owners of the one and one-quarter percent Treas­
ury Certificates of Indebtedness maturing June 1 and
July 1 would be offered new thirteen-month one and
one-quarter percent Treasury Notes, dated on these re­
spective dates, in exchange for each of these issues.
The June 1 certificate maturity amounts to $5,019,000,000. The July 1 maturity is $5,601,000,000. Formal an­
nouncement of these offerings will be made at later
dates.”
Official offering circulars and subscription forms for the
exchanges will be mailed so as to reach all banking institutions
on or before the dates the books are opened. If the circulars
and forms are not received in sufficient time, however, sub­
scriptions may be entered by mail or by telegram, subject to
confirmation with an official application blank.

Yours very truly,
R. R. GILBERT

President

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102