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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.