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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States f Circular No. 819T L November 9, 1927.J Securities Department SUBSCRIPTION BOOKS CLOSED On November 15th Offering of 3% Per Cent Treasury Certificates of Indebtedness To all Banks, Trust Companies, Savings Banks, Bankers, Investment Dealers, Principal Corporations and Others Concerned in the Second Federal Reserve District: According to an announcement by the Treasury Department, the subscription books for the current offering of $400,000,000, or thereabouts, of seven months 3% per cent Treasury certificates of indebtedness, Series T J-1928, closed at the close of business tonight, "Wednesday, November 9, 1927. The closing time applies to all subscriptions including those in payment of which Second Liberty Loan bonds are tendered. No further subscriptions to this offering, therefore, can be received by the Federal Reserve Bank of New York. Very truly yours, B E N J . STRONG, Governor.