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FEDERAL RE SE R V E BANK O F NEW YORK Fiscal A g en t o f the U nited States Circular No. 3 9 9 7 July 8, 1953 2*4 PE R C E N T T R E A S U R Y C E R T IFIC A TE S OF IN DEBTEDNESS O F SERIES C-1954 Basis o f Allotment To All Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: T he follow in g statement was made public tod a y: The Treasury today announced a 67 percent allotment on subscriptions fo r more than $100,000 each fo r the cash offering: o f 2 y> percent Tax A nticipation Certificates o f Indebtedness o f Series C-1954. None o f these subscriptions will be allotted less than $ 100,000 and smaller subscriptions w ill be allotted in full, as previously announced. Reports received from the Federal Reserve Banks show that subscrip tions total over 8V2 billion dollars. Details by Federal Reserve Districts as to subscriptions and allotments will be announced when final reports are received from the Federal Reserve Banks. A llax S proul, P resident.