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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)

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