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FEDERAL RESERVE BANK OF NEW YORK r Circular N o. 4 5 0 4 1 L September 11, 1957 J F E D E R A L F A R M LO AN BONDS — R edem ption o f O ctober 1 Maturity — Offering o f T w o New Issues T o A ll Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: A t the request o f the twelve Federal Land Banks, transmitted to us by the Treasury Department, we bring to your attention the following notice: Consolidated Federal Farm Loan 1 % percent bonds dated October 1, 1949, of which there are $215 million outstanding, w ill mature on October 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 fo r the redemption o f the maturing bonds w ill be provided b y the Federal Land Banks through a public offering o f consolidated Federal Farm Loan bonds for delivery October 1, 1957. The new bonds will be offered fo r cash, no preference being given holders o f the maturing issue. The offering will comprise $75 m illion 13-year 4 1/ 2 percent bonds callable at par after 10 years, and $140 million 16-month 4 % percent bonds, both issues to be dated October 1. The bonds will be offered by the banks’ Fiscal Agent, John T. Knox, 130 W illiam Street, New Y ork 38, N. Y ., through an organized dealer group, at prices to be announced on or about September 18. Additional copies of this circular will be furnished upon request. A lfred H ayes, President.
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