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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 2 0 0 3 November 28, 1939 SUBSCRIPTION BOOKS CLOSED On Offering of United States of America 2 Percent Treasury Bonds of 1948-50 To all Banking Institutions and Others Concerned in the Second Federal Reserve District: In accordance with instructions received today from Secretary of the Treasury Morgenthau the subscription books for the offering of 2 percent bonds of the United States, designated Treasury Bonds of 1948-50, dated and bearing interest from December 8, 1939, due December 15, 1950, were closed at the close of business today, Tuesday, November 28, 1939. Any subscription for the bonds addressed to a Federal Reserve bank or branch and placed in the mail before midnight, Tuesday, November 28, 1939, as evidenced by postoffice cancellation, will be considered a timely subscription. GEORGE L. HARRISON, President.