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FEDERAL. RESERVE BANK OF DALLAS
FISCAL AGENT OF THE UNITED STATES

Dallas, Texas, August 26,1948

EXCHANGE OFFERING AND REDEMPTION NOTICE

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

There is quoted below a press statement which will be issued tomorrow
morning by the Treasury Department regarding September financing:
“The subscription books will open on Wednesday, September 1,
for the offering of 1% percent Treasury Notes of Series A-1950, in
exchange for Treasury Notes of Series A-1948, maturing Septem­
ber 15, 1948, in the amount of $3,747,702,000. The terms of this
exchange were made public by Secretary Snyder on August 9.
“Holders of the 2% percent Treasury Bonds of 1948, in the amount
of $450,978,400, are reminded that these securities will be paid off
in cash when they mature on September 15.”
Official offering circulars and subscription forms for the exchange
offering 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, 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)