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F E D E R A L R E S E R V E BANK O F N EW YORK Fiscal Agent of the United States f Circular N o. 4 7 6 3 1 L July 24, 1959 J Preliminary Figures on Treasury’s Current Exchange Offering To A ll Banking Institutions, and Others Concerned, in the Second Federal R eserve D istrict: The follow in g statement was made public last night by the T reasury D epartm ent: Preliminary figures show that $13.7 billion o f the Treasury certificates o f indebtedness and notes aggregating nearly $14 billion maturing or payable on A ugust 1,1959, have been exchanged fo r the new issues o f Treasury notes. About $9.1 billion o f the certificates m aturing A ugust 1 have been exchanged fo r the notes m aturing A ugust 15, 1960, and $4.1 billion fo r the notes m aturing M ay 15, 1964, leaving fo r cash redemption about $234 million. O f the $473 million Treasury Notes o f Series A-1961 on which notice o f intention to redeem on A ugust 1, 1959, was given in accordance with the terms o f Department Circular No. 992, about $432 million have been exchanged fo r the notes maturing August 15, 1960, and $32 million fo r the notes m aturing M ay 15, 1964, leaving fo r cash redemption about $9 million. Total exchanges fo r the notes maturing August 15, 1960, amounted to $9.5 billion and fo r the notes maturing May 15, 1964, amounted to $4.2 billion. The Federal Reserve System held $8,143 million o f the certificates maturing August 1, o f which $5.5 billion were exchanged for the notes maturing A ugust 15, 1960, and $2,643 m illion fo r the notes m aturing M ay 15, 1964. The publicly held m aturing issues amounted to $5.8 billion, o f which $5.59 billion, or 96 percent, were presented fo r exchange. This includes exchanges o f about $4.0 billion fo r the note due August 15, 1960 and about $1.5 billion for the note due May 15, 1964. Further details regarding the exchange will be announced later after final reports are received from the Federal Reserve Banks. A l f r e d H a y e s , President.
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