The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF DALLAS FISCAL AGENT OF THE UNITED STATES Dallas, Texas, November 25, 1955 P R E L IM IN A R Y ANNO UNCEM ENT EXCH ANG E O FFERING To all Banking Institutions and Others Concerned In the Eleventh Federal Reserve D istrict: Quoted below is a press statement issued today by the Treasury Department in regard to the new exchange offering: “ The Treasury Department announced today that the subscription books w ill open on Monday, November 28, fo r an optional exchange o f its December maturities into 2% percent, one-year Treasury certificates o f indebtedness or 2% percent two and one-half year Treasury notes, maturing June 15, 1958. Cash subscriptions w ill not be received. “ These securities w ill be offered in exchange fo r $12,212 million o f securities which w ill become due on December 15. These securities consist o f $5,359 million o f l 1 percent /^ certificates o f indebtedness and $6,853 million o f 1% percent Treasury notes. Holders of the maturing securities w ill have the option o f exchanging fo r either o f the issues now offered. “ The new certificates and the new notes w ill be dated December 1,1955, and exchanges w ill be made at par with an adjustment o f interest as o f that date. D elivery o f the new securities w ill be made on December 8, follow ing acceptance o f the securities to be exchanged. Coupons dated December 15, 1955, should be attached to the certificates and notes to be exchanged, and accrued interest to December 1,1955, will be paid in each case on December 8. “ The subscription books w ill be open three days fo r this exchange offering. Any sub scription fo r either issue addressed to a Federal Reserve bank or branch, or to the Treas urer o f the United States, and placed in the mail before midnight Wednesday, November 30, w ill be considered as tim ely.” The official circulars and subscription forms for the offering w ill be mailed November 26. However, i f the circulars and forms are not received in sufficient time, subscriptions may be entered by mail, telegraph, or telephone, subject to confirmation with an official application. Yours very truly, Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)