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FEDERAL RESERVE BANK OF DALLAS
F IS C A L A G E N T O F THE U N ITE D ST A T E S

Dallas, Texas, December 1, 1949

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 November 30, 1949, by
the Treasury Department in regard to the December and January financing:
“The subscription books will open on Monday, December 5, for
the exchange of a series of Certificates of Indebtedness maturing
December 15, 1949, and three series of Treasury Bonds called for
redemption on December 15, 1949. The Certificates 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-quar­
ter-year one and three-eighths percent Treasury Note in exchange.
“Secretary Snyder also announced that holders of the Certifi­
cates of Indebtedness which will mature January 1, 1950, will be
offered a one-year one and one-eighth percent Certificate of Indebt­
edness in exchange.”
Official offering circulars and subscription forms for the exchange offer­
ing will be mailed so as to reach all banking institutions on Monday,
December 5. If the circulars and forms are not received in sufficient time,
however, subscriptions may be forwarded by letter 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)


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