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FE D E R A L R E S E R V E BANK
OF NEW YORK
Fiscal Agent of the United States
f Circular No. 3 3 0 9 "1
L February 18, 1948 J

Exchange Offering o f
11/8 Percent Treasury Certificates o f Indebtedness o f Series C-1949
Dated and bearing interest from March 1, 1948

Due March 1, 1949

Amount of Offering To Be Limited to the Amount of
% Percent Treasury Certificates of Series C-1948, Maturing March 1, 1948
2 Percent Treasury Bonds of 1948-50, Dated March 15, 1941, Called for Redemption on March 15,1948
or
2% Percent Treasury Bonds of 1948-51, Called for Redemption on March 15,1948
Tendered and Accepted
To all Banking Institutions, and Others Concerned,
in the Second Federal Beserve District:

The following press statement was today made public:
Secretary of the Treasury Snyder today announced the offering, through the Federal Reserve
Banks, of 1 % percent Treasury Certificates of Indebtedness of Series C-1949, open on an exchange basis,
in authorized denominations, to holders of % percent Treasury Certificates of Indebtedness of Series
C-1948, maturing March 1, 1948, in the amount of $2,141,731,000, 2 percent Treasury Bonds of 1948-50
(dated March 15, 1941), called for redemption on March 15, 1948, in the amount of $1,115,367,900, or
2 % percent Treasury Bonds of 1948-51, called for redemption on March 15, 1948, in the amount of
$1,223,495,850. Exchanges will be made par for par in the case of the maturing certificates, and at par
with an adjustment of interest as of March 15, 1948, in the case of the called bonds.
The certificates now offered will be dated March 1, 1948, and will bear interest from that date at
the rate of one and one-eighth percent per annum, payable with the principal at maturity on March
1, 1949. They will be issued in bearer form only, in denominations of $1,000, $5,000, $10,000, $100,000
and $1,000,000.
Pursuant to the provisions of the Public Debt Act of 1941, as amended, interest upon the certifi­
cates now offered shall not have any exemption, as such, under the Internal Revenue Code, or laws
amendatory or supplementary thereto. The full provisions relating to taxability are set forth in the
official circular released today.
Subscriptions will be received at the Federal Reserve Banks and Branches, and at the Treasury
Department, Washington, and should be accompanied by a like face amount of the securities to be
exchanged and, where maturing bonds in coupon form are presented, by payment of accrued interest on
the new certificates at the rate of $0.43151 per $1,000, since in these cases interest is to be adjusted as
of March 15, 1948. Subject to the usual reservations, all subscriptions will be allotted in full.
The subscription books will close for the receipt of all subscriptions at the close of business Friday,
February 20.
Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department, and
placed in the mail before midnight February 20, will be considered as having been entered before the
close of the subscription books.

The terms of this offering are set forth in Treasury Department Circular No. 823, dated
February 18, 1948, copy of which is printed on the following pages.
The subscription books are now open and applications will be received by this bank as fiscal
agent of the United States. Cash subscriptions will not be received. Exchange subscriptions
should be made on official subscription blanks and mailed immediately or, if filed by telegram
or letter, should be confirmed immediately by mail on the blanks provided.




A jllan S proul ,

President.

UNITED STATES OF AMERICA
1

y s P E R C E N T T R E A S U R Y C E R T IF IC A T E S O F IN D E B T E D N E S S O F SE R IE S C-1949

Dated and bearing interest from March 1, 1948

Departm
ent'cirxuUr No. 823

Due March 1, 1949

TR EA SU R Y D EPARTM ENT,

------

O f f ic e

of th e

S ecretary,

Washington, February 18, 1948.

Bureau of the Public Debt

I.

OFFERING OF CERTIFICATES

1.
The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended,
invites subscriptions from the people of the United States for certificates of indebtedness of the United States,
designated 1 % percent Treasury Certificates of Indebtedness of Series C-1949, in exchange for % percent Treas­
ury Certificates of Indebtedness of Series C-1948, maturing March 1, 1948, 2 percent Treasury Bonds of 1948-50,
dated March 15, 1941, called for redemption on March 15,1948, or 2 % percent Treasury Bonds of 1948-51, called
for redemption on March 15,1948. Exchanges will be made par for par in the case of the maturing certificates, and
at par with an adjustment of interest as of March 15, 1948, in the case of the called bonds.

II.

DESCRIPTION OF CERTIFICATES

1. The certificates will be dated March 1,1948, and will bear interest from that date at the rate of 1 % percent
per annum, payable with the principal at maturity on March 1, 1949. They will not be subject to call for redemp­
tion prior to maturity.
2. The income derived from the certificates shall be subject to all taxes, now or hereafter imposed under the
Internal Revenue Code, or laws amendatory or supplementary thereto. The certificates shall be subject to estate,
inheritance, gift or other excise taxes, whether Federal or State, but shall be exempt from all taxation now or here­
after imposed on the principal or interest thereof by any State, or any of the possessions of the United States, or
by any local taxing authority.
3. The certificates will be acceptable to secure deposits of public moneys. They will not be acceptable in pay­
ment of taxes.
4. Bearer certificates will be issued in denominations of $1,000, $5,000, $10,000, $100,000 and $1,000.000. The
certificates will not be issued in registered form.
5. The certificates will be subject to the general regulations of the Treasury Department, now or hereafter
prescribed, governing United States certificates.

III.

SUBSCRIPTION A N D A L L O T M E N T

1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury Depart­
ment, Washington. Banking institutions generally may submit subscriptions for account of customers, but only
the Federal Reserve Banks and the Treasury Department are authorized to act as official agencies.
2. The Secretary of the Treasury reserves the right to reject any subscription, in whole or in part, to allot
less than the amount of certificates applied for, and to close the books as to any or all subscriptions at any time
without notice; and any action he may take in these respects shall be final. Subject to these reservations, all sub­
scriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment.




IV .

PAYM ENT

1. Payment for certificates allotted hereunder must be made on or before March 1,1948, or on later allotment.
Payment of the principal amount may be made only in Treasury Certificates of Indebtedness of Series C-1948,
maturing March 1, 1948, in Treasury Bonds of 1948-50, called for redemption on March 15,1948, or in Treasury
Bonds of 1948-51, called for redemption on March 15, 1948, which will be accepted at par and should accompany
the subscription. The full year’s interest on the certificates surrendered will be paid to the subscriber following
acceptance of the certificates. In the case of the called bonds in coupon form, payment of accrued interest on the
new certificates from March 1, 1948 to March 15, 1948 ($0.43151 per $1,000) should be made when the subscrip­
tion is tendered. In the case of maturing registered bonds, the accrued interest will be deducted from the amount
of the check which will be issued in payment of final interest on the bonds surrendered. Final interest due March
15 on bonds surrendered will be paid, in the case of coupon bonds, by payment of March 15, 1948 coupons, which
should be detached by holders before presentation of the bonds, and in the case of registered bonds, by checks drawn
in accordance with the assignments on the bonds surrendered.

V.

ASSIGNM ENT OF REGISTERED BONDS

1. Treasury Bonds of 1948-50 and Treasury Bonds of 1948-51 in registered form tendered in payment for
certificates offered hereunder should be assigned by the registered payees or assignees thereof to “ The Secretary
of the Treasury for exchange for Treasury Certificates of Indebtedness of Series C-1949 to be delivered to...............
.................... ” , in accordance with the general regulations of the Treasury Department governing assignments for
transfer or exchange, and thereafter should be presented and surrendered with the subscription to a Federal
Reserve Bank or Branch or to the Treasury Department, Division of Loans-and Currency, Washington, D. C. The
bonds must be delivered at the expense and risk of the holders.

VI.

GENERAL PROVISIONS

1. A s fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive sub­
scriptions, to make allotments on the basis and up to the amounts indicated by the Secretary of the Treasury to
the Federal Reserve Banks of the respective Districts, to issue allotment notices, to receive payment for certificates
allotted, to make delivery of certificates on full-paid subscriptions allotted, and they may issue interim receipts
pending delivery of the definitive certificates.
2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplemental or amenda­
tory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve
Banks.




JOHN W . SNYDER,
Secretary of the Treasury.

Subscriber’s Reference No.

Application Number

E A -B L C S

For use when United States of America 2 percent Treasury Bonds of 1948-50, dated March 15,1941
IN COUPON FORM,
called for redemption on March 15,1948 are tendered in payment.

EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES C-1949, DATED MARCH 1, 1948, DUE MARCH 1, 1949
Important
1. S u b je ct to the res« rvations in T reasu ry D epartm en t C ircu lar No. 82 3 , dated February 18, 1948, all subscriptions w ill be
a llotted in fu ll.
2. C ou pon s d a ted M arch 15, 1948, should be deta ch ed from U nited States o f A m erica 2 p ercen t T reasu ry Bonds o f 19 4 8-5 0 ,
da ted M arch 15, 1941 w hich are ten dered in paym ent and co lle cte d in the usual manner.
3. A ccr u e d in terest on the new certificates from M arch 1, 1948 to M arch 15, 1948 at the rate o f $ 0 .43151 per $ 1 ,0 0 0 must
a ccom p a n y this su bscrip tion .
F

D

ederal

R eserve B

ank

op

N ew Y

ork,

Dated at.
Fiscal Agent of the United States,
Federal Reserve P. 0 . Station,
..........................
New York 45, N. Y .
Attention Government Bond Department— 2nd Floor

ear

.1948

S ir s :

Subject to the provisions of Treasury Department Circular No. 823, dated February 18, 1948, the undersigned hereby
subscribes for United States of America V/% percent Treasury Certificates of Indebtedness of Series C-1949 as stated below:
For own account................................................................................................................ r ..............................

$...................................

For our customers (for use of banking institutions) as shown on reverse side of this form

$...................................

Total subscription.............................................................................................................................

$...................................

and tenders in payment therefor a like par amount of United States of America 2 percent Treasury Bonds of 1948-50,
dated March 15, 1941, called for redemption on March 15, 1948, in coupon form as follows :

Delivered to
you herewith $...............................

m ,
.,,,
„
.
To be delivered to you
To be withdrawn from
for our account b y ......................................................
securities held by you
for our account........... $..................................................................................
$...................................

Payment of accrued interest from March 1, 1948 to March 15, 1948 ($0.43151 per $1,000) on securities allotted is
made as indicated below:
By charge to our Beserve Account which is hereby
authorized (For use of member banks only) - * -

By check and/or cash herewith..................... 0

□

Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below:
D e n o m in a t io n s

Par Value

Pieces

□
Leave Blanlj

1. Deliver over the counter to the undersigned

□

2. Ship to the undersigned

1,000

□

3. Hold in safekeeping (for member bank only)

5,000

$

□

4.

□

5. Special instructions :

10,000

«

Hold as collateral for W ar Loan deposits

100,000
1,000,000
Total
IM P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
for each group of securities as to which different delivery instructions are given.
T h e undersigned, if a bank or trust com pan y, h ereby certifies that the securities w hich you are hereby or hereafter instructed
to dispose o f in the m anner indicated in items num bered 3 and 4 above are the sole property o f the undersigned.

(Fill in all required spaces before signing)
Application submitted by.
(Please print)

TO SUBSCRIBES:
Please indicate if this is a confirmation.

YES.

By................

NO...

(Official signature required)

(Title)

Street address
City, Town or Village, P. O. No., and State.
Spaces b elow are fo r the use o f the Federal Reserve Bank of New Y ork
V a u l t R ecord

Released

Securities
received by-

-

Taken from Vault-

Securities
received by-

Counted
Checked

G o vern m en t B ond R ecord

S a fe k e e pin g R ecord

Received from F ederal R eserve B a n k op N e w Y ork the above described
United States Government obligations in the amount indicated above.

Checked by
and delivered-


Delivered


Checked byDelivery Receipt

Subscriber.
Date.

By.

List of customers whose applications are included in the foregoing subscription

Am ount Subscribed




Name of Customer
( Please print or use typewriter)

Address

Subscriber’s Reference No.

Application Number

E A -B L C L

For use when United States of America 2 % percent Treasury Bonds of 1948-51
IN COUPON FORM,
called for redemption on March 15, 1948 are tendered in payment.

EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES C-1949, DATED MARCH 1, 1948, DUE MARCH 1, 1949
Important
1. S u b je ct to the reservations in T reasu ry D epartm ent C ircu la r No. 8 23, dated February 18, 1948, all subscriptions w ill be
allotted in fu ll.
2. C ou pon s d a ted M arch 15, 1 9 4 8, shou ld be d eta ch ed from U nited States o f A m erica 2 % p ercen t T reasu ry Bonds o f
1948*51 w hich are ten d ered in paym ent and c o lle c te d in the usual manner.
3. A ccr u e d interest on the new certificates from M arch 1, 1948 to M arch 15, 1948 at the rate o f $ 0 .43151 per $ 1 ,0 0 0 must
accom p a n y this subscrip tion .
F ederal R eserv e B a n k o f N ew Y o r k ,

Dated at.
Fiscal Agent of the United States,
Federal Reserve P. 0 . Station,
..........................
New York 45, N. Y .
Attention Government Bond Department— 2nd Floor

.1948

D ear S i r s :

Subject to the provisions of Treasury Department Circular No. 823, dated February 18, 1948, the undersigned hereby
subscribes for United States of America 1 ^ percent Treasury Certificates of Indebtedness of Series C-1949 as stated below:
For own account.................................................................................................................................................

$...................................

For our customers (for use of banking institutions) as shown on reverse side of this form

$...................................

Total subscription....................................................................................................................... ..

$............. .....................

and tenders in payment therefor a like par amount of United States of America 2 % percent Treasury Bonds of 1948-51
called for redemption on March 15, 1948, in coupon form as follows:
To be delivered to you
To be withdrawn from
for our account by............ ......................................
securities held by you
Delivered to
for our account........... $.
you herewith $.............................
Payment of accrued interest from March 1, 1948 to March 15, 1948 ($0.43151 per $1,000) on securities allotted is
made as indicated below:
By charge to our Reserve Account which is hereby
authorized (For use of member banks only) - - -

By check and/or cash herewith..................... Q

Q

Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below :
D e n o m in a t io n s

Par Value

Pieces

□
Leave Blank

1. Deliver over the counter to the undersigned
Ship to the undersigned

□

2.

1,000

□

3. Hold in safekeeping (for member bank only)

5,000

$

□ ' 4.

□

10,000

Hold as collateral for W ar Loan deposits

5. Special instructions:

100,000
1,000,000
Total
IM P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
for each group of securities as to which different delivery instructions are given.
T he undersigned, if a bank o r trust com pan y, hereby certifies that the securities which you are hereby or hereafter instructed
to disp os« o f in the manner indicated in items num bered 3 and 4 a bove are the sole property o f the undersigned.

(Fill in all required spaces before signing)
Application submitted by.
(Please print)

TO SUBSCRIBER:
Please indicate if this is a confirmation.

YES

By...............

NO...

(Official signature required)

(Title)

Street address
City, Town or Village, P. O. No., and State.
Spaces below are fo r the use o f the Federal Reserve Bank o f New Y ork
V

ault

R ecobd

Securities
received by-

Released
Taken from Vault-

Securities
received by-

Counted
Checked
Delivered




G o vern m en t B ond R ecord

S a fe k e e pin g R ecord

Checked byDelivery Receipt

Received from F ederal R eserve B a n k or N e w Y ork the above described
United States Government obligations in the amount indicated above.

Checked by
and delivered-

Subscriber.
Date.

By.

List of customers whose applications are included in the foregoing subscription

Am ount Subscribed




Name of Customer
( Please print or use typewriter)

Address

lubscriber’s Reference No.

Application Number

lA -B L R L

For use when United States of America 2 % percent Treasury Bonds of 1948-51
IN REGISTERED FORM,
called for redemption on March 15,1948 are tendered in payment.

EXCHANGE SUBSCRIPTION
r0 R UNITED STATES OF AMERICA 1% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES C-1949, DATED MARCH 1, 1948, DUE MARCH 1, 1949
important
1. S u b je c t to the reserva tion s in T reasu ry D epartm en t C ircu la r N o. 8 2 3 , da ted February 18, 19 4 8, all subscriptions w ill be
H otted in fu ll.
2. 294 p e rce n t T reasu ry B onds o f 1 9 48-51 in registered form ten dered in paym ent fo r 1 H p ercen t T reasu ry C ertificates o f
n debted n ess o f S eries C -1 9 4 9 sh ou ld b e assigned b y the registered p a yees or assignees th e re o f in the m anner p r ov id ed in pararaph 1 o f S e ctio n V o f T reasu ry D epartm en t C ircu la r N o. 8 2 3 .
3. A c c r u e d in terest w ill b e ch a rged to the su b scrib er on the new certificates fro m M arch 1, 1948 to M arch 15, 19 4 8 a t the
ate o f $ 0 .4 3 1 5 1 p e r $ 1 ,0 0 0 . T h is am ount w ill b e ch a rged again st the final interest due M arch 15, 19 4 8 on the 2 % p ercen t T reasu ry
io n d i o f 1 948-51 su rren d ered , w hich is $ 1 3 .7 5 p er $ 1 ,0 0 0 , and the d ifferen ce w ill be rem itted b y us to the su b scrib er upon disch arge
>f registra tion o f such b o n d s b y the T reasu ry D epartm en t.

Fede ra l R eserve B a n k

of

New Y ork,

TWpri « t

Fiscal Agent of the United States,
Federal Reserve P. 0 . Station,
New York 45, N. Y .

iq4Q
.................................................................................. 1

Attention Government Bond Department— 2nd Floor
Dear S i r s :

Subject to the provisions of Treasury Department Circular No. 823, dated February 18, 1948, the undersigned hereby
subscribes for United States of America 1 % percent Treasury Certificates of Indebtedness of Series C-1949 as stated below:
For own account..................................................................................................................................................

$....................................

For our customers (for use of banking institutions) as shown on reverse side of this form

$...................................

Total subscription..............................................................................................................................

$....................................

"

md tenders in payment therefor a like par amount of United States of America 2 % percent Treasury Bonds of 1948-51
¿ailed for redemption on March 15, 1948, in registered form, as follows:
_ .
.A ,
.
.
To be delivered to you
„
.
To be withdrawn from
for our aceolmt b ...................................................
Delivered to
securities held by you
pou herewith $...............................
for our account........... $.............*
.....................................................................
$...................................
You are authorized to charge the amount of accrued interest from March 1, 1948 to March 15, 1948 on the securities
allotted against the amount of final interest due on March 15, 1948 on the registered bonds surrendered, and to remit the
wlance upon discharge of registration of such bonds by the Treasury Department.
Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below :
D e n o m in a t io n s

□

1. Deliver over the counter to the undersigned

□

2. Ship to the undersigned

1,000

□

3. Hold in safekeeping (for member bank only)

5,000

□

4.

□

5. Special instructions :

Par Value

Pieces

$

Leave Blank

10,000

Hold as collateral for W ar Loan deposits

100,000
1,000,000
Total
IM P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
for each group o f securities as to which different delivery instructions are given.
The undersigned, if a bank o r trust com pa n y, h ereby certifies that the securities w hich y ou are h ereby or hereafter instructed
>se
to dispose o f in the m anner indicated in items n um bered 3 and 4 a b ov e are the sole property o f the undersigned.

(Pill in all required spaces before signing)
Application submitted b y ..,

TO SUBSCRIBER:

(Please print)

Please indicate if this is a confirmation

YES.
NO....

By..................
(Official signature required)

(Title)

Street address..................................................
City, Town or Village, P. O. No., and State
Spaces b elow are fo r the use o f the Federal Reserve Bank o f New Y ork
S afe k e e p in g R ecord

V a u l t R ec or d
R e le a s e d

Taken from Vault-

Securities
received by-

Checked byDelivery Receipt

Received from F ederal R eserve B a n k of N e w Y ork the above described
United States Government obligations in the amount indicated above.

Counted
Checked

G overn m en t B ond R ecord

Securities
received by-

Checked by
and delivered-


Delivered


Sub8criber.
Date.

By.

List of customers whose applications are included in the foregoing subscription

Amount Subscribed




Name of Customer
( Pleas* print or use typewriter)

Address

Subscriber’s Reference No.

Application Number

EA-BLRS

For use when United States of America 2 percent Treasury Bonds of 1948-50, dated March 15,1941
IN REGISTERED FORM,
called for redemption on March 15, 1948 are tendered in payment.

EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES C-1949, DATED MARCH 1, 1948, DUE MARCH 1, 1949
Important
1. S u b je ct to the reservations in T reasu ry D epartm ent C ircular No. 8 2 3 , dated February 18, 1948, all subscriptions w ill be
allotted in fu ll.
2. 2 percen t T reasu ry Bonds o f 1 9 4 8-5 0 , dated M arch 15, 1941, in registered form ten dered in paym ent fo r 1^8 percent
Treasu ry C ertificates o f In debted ness o f Series C -1 9 4 9 should be assigned b y the registered payees or assignees th ereof in the m anner
prov id e d in paragraph 1 o f S ection V o f T reasu ry D epartm en t C ircu lar No. 823.
3. A ccr u e d interest w ill be ch a rged to the subscriber on the new certificates from M arch 1, 1948 to M arch 15, 1948 at the
rate o f $ 0 .43 1 5 1 per $ 1 ,0 0 0 . This am ount w ill b e ch a rged against the final interest due M arch 15, 1948 on the 2 p ercen t Treasu ry
Bonds o f 1 9 4 8 -5 0 , da ted M arch 15, 1941, su rrendered, w hich is $ 1 0 .0 0 per $ 1 ,00 0 , and the differen ce will be rem itted b y us to the
su b scrib er upon disch a rge o f registration o f such bonds b y the T reasu ry D epartm ent.

F e d e ra l R e s e r v e B a n k

of

New Y

ork,

Dated at.

Fiscal Agent of the United States,
Federal Reserve P. 0 . Station,
New York 45, N. Y .

.1948

Attention Government Bond Department— 2nd Floor
D

ear

S ir s :

Subject to the provisions of Treasury Department Circular No. 823, dated February 18, 1948, the undersigned hereby
subscribes for United States of America I 1 percent Treasury Certificates of Indebtedness of Series C-1949 as stated below:
/*}
For own account..................................................................................................................................................

$...................................

For our customers (for use of banking institutions) as shown on reverse side of this form

$...................................

Total subscription........ ....................................................................................................................

$.

and tenders in payment therefor a like par amount of United States of America 2 percent Treasury Bonds of 1948-50,
dated March 15, 1941, called for redemption on March 15, 1948, in registered form, as follows:

Delivered to
you herewith $...............................

To be delivered to you
To be withdrawn from
for our account by......
securities held by you
for our account........... $................................................................ :...............

$...................................

You are authorized to charge the amount of accrued interest from March 1, 1948 to March 15, 1948 on the securities
allotted against the amount of final interest due on March 15, 1948 on the registered bonds surrendered, and to remit the
balance upon discharge of registration of such bonds by the Treasury Department.
Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below:
D é n o m in a t io n s

Par Value

Pieces

$

□

1. Deliver over the counter to the undersigned

□

Leave Blank

2. Ship to the undersigned

1,000

□

3. Ilold in safekeeping (for member bank only)

5,000

□

4. Hold as collateral for W ar Loan deposits

□

5. Special instructions:

10,000
*100,000
1,000,000
Total

IM P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
for each group of securities as to which different delivery instructions are given.
T h e u ndersign ed , i f a bank or trust com pan y, h ereb y certifies that the securities w hich you are h ereby or h erea fter instructed
to d isp o se o f in the m anner in dica ted in item s n um bered 3 and 4 a b ov e are the sole prop erty o f the undersigned.

(Fill in all required spaces before signing)
Application submitted by.

(Please print)

TO SUBSCRIBER:
Please indicate if this is a confirmation.

YES.

B y ..................

NO...

(Title)

(Official signature required)

Street address
City, Town or Village, P. 0. No., and State.
Spaces b elow are fo r the use o f the Federal R eserve Bank o f New Y ork
V a u l t R ecord

Securities
received by-

Released
Taken from Vault-

Securities
received by-

Checked

Checked byDelivery Receipt

Received from F ederal R eserve B a n k of N e w Y ork the above described
United States Government obligations in the amount indicated above.

Counted


Delivered


G o vern m en t B ond R ecord

S afe ke e pin g R ecord

Checked by
and delivered

Subscriber.
Date.

By.

List of customers whose applications are included in the foregoing subscription

Am ount Subscribed




Name o f Customer
( Please print or use typewriter)

Address

Subscriber’s Reference No.

Application Number

E A -C S

United States1 America % percent Treasury Certificates of Indebtedness of Series C-1948,
of
maturing March 1, 1948 must be tendered in payment for this subscription.

EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES C-1949, DATED MARCH 1, 1948, DUE MARCH 1, 1949
Important
S u b je ct to the reserva tion s in T reasu ry D epartm en t C ircu la r No. 8 2 3 , dated February 18, 1948, all subscriptions w ill be
a llotted in fu ll.

F e d e ra l R eserve B a n k

of

New Y ork,

Dated at.

Fiscal Agent of the United States,
Federal Reserve P. 0 . Station,
New York 45, N. Y .

.1948

Attention Government Bond Department— 2nd Floor
D ear S ir s :

Subject to the provisions of Treasury Department Circular No. 823, dated February 18, 1948, the undersigned hereby
subscribes for United States of America 1 Ys percent Treasury Certificates of Indebtedness of Series C-1949 as stated below:
For own account.................................................................................................................................................

$...................................

For our customers (for use of banking institutions) as shown on reverse side of this form

$...................................

Total subscription................................................................................... ....................................... ..

$...................................

and tenders in payment therefor a like par amount of United States of America % percent Treasury Certificates of
Indebtedness of Series C-1948, maturing March 1, 1948, as follows:
m i.
.A j
i
To be delivered to you
T ° bo w.thdrawn from
for our aeeount b ' ..................................................
Delivered to
securities held by you
you herewith $ ..............................
for our account........... $.................................................................................
$...................................
Pay the proceeds of interest due March 1, 1948 on maturing securities as follows:
By ch eck ............................................................................................................................

□

By credit to our reserve account................................................................................

□

Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below:
D e n o m in a t io n s

Par Value

Pieces

□

1. Deliver over the counter to the undersigned

□

Leave Blank

2. Ship to the undersigned

□

1,000
5,000

3. Hold in safekeeping (for member bank only)

□

4.

□

$

5. Special instructions:

Hold as collateral for W ar Loan deposits

10,000
100,000
1,000,000
Total
IM P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
for each group of securities as to which different delivery instructions are given.
The undersigned, if a bank or trust com pan y, hereby certifies that the securities which you are hereby or hereafter instructed
to dispose o f in the m anner indicated in items num bered 3 and 4 a bove are the sole property o f the undersigned.
(F ill in all required spaces before signing)

Application submitted by. . .
(Please print)

TO SUBSCRIBER:

YES.

Please indicate if this is a confirmation.

NO...

By....................

(Official signature required)

(Title)

Street address
City, Town or Village, P. 0. No., and State.
Spaces below are fo r the use o f the Federal Reserve Bank of New Y ork
V ault R

ecord

Securities
received by-

Released
Taken from Vault-

Securities
received by-

Counted
Checked
Delivered




G o vernm ent B ond R ecord

S a fe ke epin g R ecord

Checked byDelivery Receipt

Received from F ederal R eserve B a n k of N e w Y ork the above described
United States Government obligations in the amount indicated above.

Checked by
and delivered-

Subscriber.
Date.

By.

List of customers whose applications are included in the foregoing subscription

Amount Subscribed




Name of Customer
(Pitas* print *r us* typwmrUf)

Address


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102