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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States "Circular No. 1 1 2 3 1 ..July 2 5 . 1932J Subscription Books Closed On Offering of United States of America Treasury Notes in Two Series 2]/8 per cent Series B-1934, due August 1, 1934. 3Vi per cent Series A-1936, due August 1, 1936. Both series dated and bearing interest from August 1, 1932. To all Banks and Trust Companies in the Second Federal Reserve District and Others Concerned: In accordance with instructions from the Treasury Department the subscription books on the offering of $650,000,000, or thereabouts, of United States of America Treasury Notes in Two Series, $325,000,000, or thereabouts, 2% per cent Series B-1934, due August 1, 1934 and $325,000,000, or thereabouts, 3^4 per cent Series A-1936, due August 1, 1936, both series dated and bearing interest from August 1, 1932, closed at the close of business today, Monday, July 25, 1932. Subscriptions actually mailed before midnight, Monday, July 25, 1932, as shown by post office cancellation, will be considered as having been entered before the close of the subscription books. GEORGE L. HARRISON, Governor.