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F E D E R A L R E S E R V E BAN K OF NEW YORK r Circular No. 4 4 4 6 1 L April S, 1957 J FE D E R A L F A R M LO AN BONDS — R edem ption o f May 1 Maturity — Offering o f Tw o New Issues To A ll Banks and Trust Companies, and Others Concerned, in the Second Federal B eserve D istrict: A t the request o f the F arm Credit Adm inistration, transm itted to us b y the T reasury Department, we bring to your attention the follow ing notice issued b y the F arm Credit A dm in istra tion : Consolidated Federal Farm Loan 3.30 percent bonds dated May 1, 1956, o f which there are $170 m illion outstanding, will mature on May 1, 1957. These bonds may be redeemed through the Federal Reserve Banks and Branches or the Treasurer o f the United States, W ashington, D. C. Funds for the redemption o f the maturing bonds and fo r other requirements w ill be provided by the Federal land banks through a public offering o f consolidated Federal Farm Loan bonds fo r delivery M ay 1, 1957. The new bonds will be offered fo r cash, no preference being given holders o f the matur ing issue. The offering will comprise $78 m illion 1-year 3 % percent bonds and $125 million 5-year 4 percent bonds, both issues to be dated M ay 1. The bonds w ill be offered by the banks’ Fiscal Agent, John T. K nox, 130 W illiam Street, New Y ork 38, N. Y ., through an organized dealer group, at prices to be announced on or about A pril 10. A dditional copies o f this circular w ill be furnished upon request. A lfred H ayes, President.
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