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CIRCULAR NO. 233 / i FEDERAL RESERVE BANK OF N E W YORK CERTIFICATES OF INDEBTEDNESS DEPARTMENT December 10, 1919 UNITED STATES TREASURY 4 ^ % CERTIFICATES OF INDEBTEDNESS Acceptable in Payment of Federal Income and Profits Taxes Series T J 1920 Dated December 15, 1919 Due June 15, 1920 To ALL BANKS, TRUST COMPANIES, SAVINGS BANKS, BANKERS, INVESTMENT DEALERS AND PRINCIPAL CORPORATIONS IN THE SECOND FEDERAL RESERVE DISTRICT, DEAR SIRS: The New Certificates The books of the Federal Reserve Bank of New York as Fiscal Agent of the United States are open and subscriptions are now being received to the new issue of certificates of indebtedness acceptable at their maturity in payment of Federal income and profits taxes. Any qualified depositary will be permitted to make payment by book credit, as usual, for certificates allotted to it and its customers. No specific amount of the new certificates is being offered by the Treasury Department, and no individual quotas have been assigned to the banks. The details of the official offering were contained in our Circular No. 231 of December 8, 1919. Exchange of Unmatured "Certifica'tes for the Present Offering The new certificates may also be obtained by exchanging outstanding issues maturing on or before March 15,1920, and not overdue. The certificates so exchangeable for Series T J 1920 are as follows: "Tax" Series T5 T7 T8 T9 T M 3-1920 Certificates Dated- June July July Sept. Dec. 3, 1919 1, 1919 15, 1919 15, 1919 1, 1919 Maturity Dec. Dec. March March March 15, 1919 15, 1919 15, 1920 15, 1920 15, 1920 Series A 1923 B 1920 C 1920 D 1920 'Loan" Certificates Dated Aug. Aug. Sept. Dec. 1, 15, 2, 1, 1919 1919 1919 1919 Maturity Jan. Jan. Feb. Feb. 2, 16, 2, Hi, 1920 1920 1920 1920 If any banking institution is in doubt as to the best method to pursue in offering its present holdings of certificates in exchange for the new issue (Series T J 1920) it is suggested that, while of course the banking institution is free to subscribe in any manner under the terms announced in the official offering, the interests of the Treasury might best be served if the "loan" certificates were turned in for exchange rather than the "tax" certificates. The new certificates are dated December 15, 1919, and as the Treasury reserves the right to close the subscriptions at any time without notice, it is advisable to enter subscriptions immediately. Yours very truly, BENJ. STRONG, Governor.
@FedFRASER