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F E D E R AL R E S E R V E B AN K
OF N EW YORK
Fiscal Agent of the United States

(-Circular N o. 3 7 6 2 1
I September 26, 19S1 J

TREASURY FINANCING

T o all B anks, and Others Concerned,
in the Second Federal R eserve D is tr ic t:

Secretary o f the Treasury Snyder has announced that the sub­
scription books will open on Monday, October 1, fo r the exchange of
the 12 percent Treasury Notes o f Series F-1951, maturing October 15,
/4
1951, in the amount of $5,940,578,000, and the l 1 percent Treasury
/^
Notes o f Series G-1951, maturing November 1, 1951, in the amount
o f $5,253,075,000.
The holders of these securities will be offered a iyg percent certifi­
cate o f indebtedness to be dated October 15, 1951, and to mature
October 1, 1952. In the case o f the November 1 notes exchanged, inter­
est will be adjusted to October 15.
Additional copies o f this circular will be furnished upon request.




A

l l a n

S

p r o u l

,

President.