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FEDERAL RESERVE BANK OF DALLAS F IS C A L A G E N T O F TH E U N ITE D ST A T E S Dallas, Texas, July 12, 1951 PRELIMINARY ANNOUNCEMENT EXCHANGE OFFERING To All Banking Institutions and Others Concerned, in the Eleventh Federal Reserve District: There is quoted below a press statement issued today by the Treasury Department in regard to the August financing: “ Secretary of the Treasury Snyder announced today that the sub scription books will open on Monday, July 16, for the exchange of the 11/4 percent Treasury Notes of Series E-1951, in the amount of $5,351,142,000, maturing August 1, 1951. “ The holders of these securities will be offered an eleven-month 1% percent Certificate of Indebtedness." Official offering circulars and subscription forms for the exchange will be mailed so as to reach all banking institutions on or before the date the books are opened. If the circulars and forms are not received in sufficient time, however, subscriptions may be entered by mail or by telegram, sub ject 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)