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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States

Circular No. 1 8 6 2
July 11, 1938

Subscription Books Closed
On Offering of Reconstruction Finance Corporation % Percent Notes of Series N,
Due July 20, 1941

To all Banking Institutions and Others Concerned
in the Second Federal Reserve District:

In accordance with instructions received today from the Treasury Department
the subscription books for the offering of Reconstruction Finance Corporation
% percent notes of Series N, due July 20,1941, dated and bearing interest from July
20, 1938, were closed at the close of business today, Monday, July 11, 1938.
Any subscription addressed to a Federal Reserve bank or branch and placed
in the mail before midnight, Monday, July 11, 1938, as evidenced by postoffice cancellation, will be considered a timely subscription.




GEORGE L. HARBISON,

President.