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FED ERAL RE SER VE BANK
O F NEW YORK
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C ircular N o . 5 0 7 9
A u g u s t 31, 1961

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F E D E R A L F A R M L O A N BONDS
— Redemption o f September 20 Maturity
— Offering o f New Bonds

T o A ll Batiks and Trust Companies, and Others Concerned,
in th e Second F ederal 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:
A n issue of $120 million consolidated Federal farm loan 4 percent bonds dated Novem­
ber 3, 1958, will mature on September 20, 1961. These bonds may be redeemed through
the Federal Reserve Banks and Branches or the Treasurer of the United States, Washing­
ton, D . C.
Funds for the redemption o f the maturing bonds and for other requirements will be
provided by the Federal Land Banks through a public offering of consolidated Federal
farm loan bonds for delivery September 20, 1961. The new bonds will be offered for cash,
no preference being given holders of the maturing issue.

The offering will comprise

$193,250,000 of 4*4 percent bonds dated September 20, 1961, due July 20, 1966.
The bonds will be offered by the banks’ Fiscal Agent, John T. Knox, One Chase
Manhattan Plaza, New York 5, N. Y ., through an organized dealer group, at a price to be
announced on or about September 7.

Additional copies of this circular will be furnished upon request.




A lfred H ayes,

President.