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FED ER A L R E S E R V E BANK O F NEW YORK Fiscal Agent of the United States r Circular No. 3 3 6 8 1 L August 27, 1948 J OFFERING OF UNITED STATES OF AMERICA TREASURY SAVINGS NOTES, SERIES D To all Banking Institutions, and Others Concerned, in the Second F ederal Reserve D istrict: On August 18, 1948 the Secretary of the T reasu ry announced the details of the new T reasu ry Savings Notes, Series D, which will become available for purchase on Septem ber 1,1948, and the term ination of the sale of T reasu ry Savings Notes, Series C, at the close of business August 31. The full text of the announcement appeared in our Circular No. 3362, dated August 18, 1948. W e send you herewith a copy of T reasu ry D epartm ent Circular No. 833, dated August 17, 1948, giving full particulars regarding the notes of the new series and copies of a new application form GB 499 “ Application fo r United States of Am erica T reasu ry Savings Notes, Series D .” Additional copies of the T reasu ry circular and the form will be furnished upon request. A lla n S pro ul, P resident. U N IT E D S T A T E S O F A M E R IC A TREASURY SAVINGS NOTES Series D 1948 Department Circular No. 833 Bureau Fiscal Service of the Public TR EA SU R Y D EPA RTM EN T, Of f i c e o f t h e S e c r e t a r y , Debt W ashin gton , A u gu st 17,191*8. I. O FFER IN G OF N O TES- 1. The S ecretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended, offers fo r sale to the people of the United States, a t par, an issue of notes of the United States, designated Treasury Savings Notes, Series D, which notes, if inscribed in the name of a Fed eral taxpayer, will be receivable as h erein after provided at par and accrued interest in payment of income, estate and g ift taxes imposed by the In ternal Revenue Code, or laws am endatory or supplem entary thereto. 2. The sale of Treasury Savings Notes, Series C, issued under Departm ent C ircular No. 696, F ir s t Revision, dated November 20, 1943, is hereby term inated a t the close of business August 31, 1948. 3. The sale of Notes of Series D offered by this circu lar will continue until term inated by the S ecretary of the Treasury. II. DESCRIPTION OF NOTES 1. G en era l.— Treasury Savings Notes, S eries D, will in each instance be dated as of the first day of the month in which payment, a t par, is received and credited by an agent authorized to issue the notes. They will m ature three years from th at date, and may not be called by the Secretary of the T reasu ry fo r redemption before m aturity. All notes issued during any one calendar year shall constitute a separate series indicated by the letter “D” followed by the year of m aturity. A t the tim e of issue the authorized issuing agent will inscribe on the face of each note the name and address of the owner, will enter the date as of which the note is issued and will im print his dating stamp (w ith current d a te ). The notes will be issued in denominations of $100, $500, $1,000, $5,000, $10,000, $100,000, $500,000 and $1,000,000. Exchange of authorized denominations from higher to lower, but not from lower to higher, may be arranged a t the office of the agent th at issued the note. 2. A ccep ta n ce f o r T ax es o r C ash R e d e m p tio n .— I f inscribed in the name of an individual, cor poration, or other entity paying income, estate or g ift taxes imposed under the In ternal Revenue Code, or laws amendatory or supplementary thereto, the notes will be receivable, subject to the provisions of Section IV of this circular, a t par and accrued interest, in payment of such income, estate or g ift taxes assessed against the owner or his estate. I f not presented in payment of taxes, or if not inscribed in the name of a taxpayer liable to the above-described taxes, and subject to the provisions of Section V of this circular, the notes will be payable at m aturity, or at the owner’s option and request they will be redeemable before m aturity at par and accrued interest. 3. I n te r e s t.— In terest on each $1,000 principal amount of Savings Notes, Series D, will accrue each month from the month of issue, on a graduated scale, as follows: F ir s t to Sixth months, inclusive_______________-______________________ $0.80 each month. Seventh to Tw elfth months, inclusive_________________________________ 1.00 each month. Thirteenth to Eighteenth months, inclusive____________________________ 1.20 each month. Nineteenth to Tw enty-fourth months, inclusive_______________________ 1.30 each month. Tw enty-fifth to Th irty -sixth months, inclusive_______________________ 1.40 each month. The table appended to this circu lar shows fo r notes of each denomination, fo r each consecutive cal endar month from month of issue to month of m aturity, (a) the amount of interest accrual, (b) the principal amount of the note with accrued interest (cum ulative) added, and (c) the approxi m ate investment yields. In no case shall interest accrue beyond the month in which the note is presented in payment of taxes, or fo r redemption before m aturity as provided in Section V of this circular, or beyond its m aturity. In terest will be paid only with the principal amount. 4. F o r m s o f In s c r ip tio n .— Treasury Savings Notes, Series D, may be inscribed in the name of an individual, corporation, unincorporated association or society, or a fiduciary (including tru s tees under a duly established tru st where the notes would not be held as security fo r the perform ance of a duty or obligation), whether or not the inscibed owner is subject to taxation under the In ternal Revenue Code, or laws amendatory or supplementary thereto. They may also be inscribed 16- 5 6 0 2 5 -1 in the name of a town, city, county or S tate or other governmental body and in the name of a p art nership, but notes in the name of a partnership are not acceptable in payment of taxes, since a partnership is not a taxpaying entity under the In ternal Revenue Code. The notes will not be ^inscribed in the names of two or more persons as jo in t owners or coow ners; or in the name of a public officer, whether or not named as trustee, where the notes would in effect be held as security. 5. N o n tr a n s fe r a b ility .— The notes may not be tran sferred in ordinary course; except th at (1 ) if inscribed in the name of a m arried man they may be reissued in the name of his w ife, or if inscribed in the name of a m arried woman they may be reissued in the name of her husband, upon request of the person in whose name the notes are inscribed and the surrender of the notes to the agent th a t issued th em ; (2) if inscribed in the name of a corporation owning more than 50 per cent of the stock, w ith voting power, of another corporation, the notes may be reissued in the name of the subsidiary upon request of the corporation and surrender of the notes to the agent th at issued th em ; (3) upon the death or disability of an individual inscribed owner or the dissolu tion, consolidation or m erger of a corporation or unincorporated association named as owner, reissue or payment may be made in accordance with Section V I h ereo f; and (4) payment but not reissue, may be made as a result of legal proceedings as set fo rth in said Section V I. The notes may not be hypothecated and no attem pted hypothecation or pledge as security will be recognized by the Treasury D ep artm en t: P ro v id ed , h oiv ev er, T h at the notes may be pledged as collateral fo r loans from banking institutions and if title thereto is acquired by a bank because of the failu re of a loan to be paid, the notes will be redeemed at par and accrued interest to the month in which acquired on surrender to the agent who issued them, accompanied by proof o f the date of acqui sition and by request of the pledgee under power of attorney given by the pledgor in whose name the notes are inscribed. The notes will not be tran sferred to a pledgee. The notes will not be acceptable to secure deposits of public moneys. 6. T a x a tio n .— Income derived from the notes shall be su bject to all taxes imposed under the In ternal Revenue Code or laws amendatory or supplementary thereto. The notes shall be subject to estate, inheritance, g ift or other excise taxes, whether Federal or State, but shall be exempt from all taxation now or h ereafter imposed on the principal or interest th ereof by any State, or any o f the possessions of the United States, or by any local taxin g authority. III. PURCHASE OF NOTES 1. O fficial A g en cies.— In addition to the Treasu ry Departm ent, the Federal Reserve Banks and th eir Branches are hereby designated agencies fo r the issue and redemption of T reasu ry Savings Notes, Series D. The Secretary of the Treasury, from tim e to time, in his discretion, may desig nate other agencies fo r the issue of the notes, or fo r accepting applications th erefor, or fo r m aking payments on account of the redemption thereof. 2. A p p lica tio n s a n d p ay m en t.— Applications will be received by the Federal Reserve B an ks and Branches, and by the Treasu rer of the United States, W ashington, D. C. Ban king institutions and security dealers generally may submit applications fo r account of custom ers, but only the Fed eral Reserve Ban ks and th eir Branches and the Treasury Departm ent are authorized to a ct as official agencies. The use of an official application form is desirable but not necessary. A ppropri ate form s may be obtained on application to any Federal Reserve Bank or B ran ch , or the T reasu rer of the United S tates, W ashington, D. C. Every application must be accompanied by paym ent in full, at par. Any form of exchange, including personal checks, will be accepted su bject to collec tion, and should be drawn to the order of the Federal Reserve Bank or of the T reasu rer of the United States, as payee, as the case may be. The date funds are made available on collection of exchange will govern the issue date of the notes. Any depositary, qualified pursuant to the pro visions of T reasu ry D epartm ent C ircular No. 92, Revised, as amended, will be perm itted to make payment by credit fo r notes applied fo r on behalf of itself or its custom ers up to any amount fo r which it shall be qualified in excess of existing deposits. 3. R e s e rv a tio n s.— The Secretary of the T reasu ry reserves the rig h t to re je c t any application in whole or in part, and to refuse to issue or perm it to be issued hereunder any notes in any case or in any class or classes of cases if he deems such action to be in the public interest, and his action in any such respect shall be final. I f an application is rejected, in whole or in part, any payment received th erefo r will be refunded. 4. D eliv ery o f n o tes.— Upon acceptance o f full-paid applications, notes will be duly inscribed and, unless delivered in person, will be delivered, at the risk and expense of the United S tates a t the address given by the purchaser, by mail, but only within the United S tates, its territo ries and insular possessions and the Canal Zone. No deliveries elsewhere will be made. IV. PRESENTATION IN PAYMENT OF TAXES 1. D uring and a fte r the second calendar month a fte r the month o f purchase (as shown by the issue date on each n o te), during such time, and under such rules and regulations as the Commis sioner of In ternal Revenue, with the approval o f the S ecretary of the Treasury, shall prescribe, notes issued hereunder in the name of a taxpayer (individual, corporation, or other en tity) may 16— 66025-1 be presented and surrendered by such taxpayer, his agent, or his estate, to the Collector o f In ternal Revenue to whom the tax retu rn is made, and will be receivable by the Collector a t par and accrued interest from the month of issue to the month, inclusive (but no accrual beyond m a tu rity ), in which presented, in payment of any income (current and back personal and corporation taxes, and excessprofits ta x e s ), or any estate or g ift taxes (cu rren t and back) imposed by the Internal Revenue Code, or laws amendatory or supplementary thereto, assessed against the inscribed owner or his estate. The notes must be forwarded to the Collector a t the risk and expense of the owner, and, fo r the owner’s protection, should be forwarded by registered mail, if not presented in person. V. CASH REDEMPTION AT OR PRIOR TO MATURITY 1. G en era l.— (a ) Any T reasu ry Savings Note of Series D not presented in payment of taxes, will be paid a t m aturity, or, a t the option and request of the owner and without advance notice, will be redeemed before m aturity, but the notes may be redeemed before m aturity only during and a fte r the fourth calendar month a fte r the month of issue (as shown on the face of each n o te). (6 ) Paym ent a t m aturity or on redemption before m aturity will be made a t par and accrued in ter est to the month of payment, except, if a note is inscribed in the name of a bank th at accepts demand deposits, payment a t m aturity or on redemeption before m aturity will be made only at the issue price, or par, of the note. However, if a note is acquired by any such bank through fo rfeitu re of a loan, payment will be made at the redemption value fo r the month in which so acquired. 2. E x e cu tio n o f re q u e st f o r 'payment.— The owner in whose name the note is inscribed must appear before one of the officers authorized by the Secretary of the Treasury to witness and certify requests fo r payment, establish his identity, and in the presence of such officer sign the request fo r payment appearing on the back of the note, adding the address to which check is to be mailed. A fte r the request for payment has been so signed, the witnessing officer should complete and sign the certificate provided for his use. 3. O fficers a u th o riz ed to w itn ess an d c e r t ify req u ests f o r p ay m en t.— All officers authorized to witness and certify requests fo r payment of United S tates Savings Bonds, as set fo rth in Treasury Departm ent C ircular No. 530, S ixth Revision, as amended, are hereby authorized to witness and cer tify requests fo r cash redemption of Treasury notes issued under this circular. Such officers include, among others, United States postm asters, certain other post office officials, officers of all banks and tru st companies incorporated in the United States or its organized territories, including officers a t branches thereof, and commissioned officers of the Army, Navy, M arine Corps and Coast Guard. 4. P r e s e n ta tio n an d su rren d er.— Notes bearing properly executed requests fo r payment must be presented and surrendered to any Federal Reserve Bank or Bran ch or to the Treasury D epart ment, W ashington, D. C., at the expense and risk of the owner. F o r the owner’s protection, notes should be forwarded by registered mail, if not presented in person. 5. P a r tia l red em p tio n .— P a rtia l cash redemption of a note, corresponding to an authorized denomination, may be made in the same m anner as fo r full cash redemption, appropriate changes being made in the request fo r payment. In case of partial redemption of a note, the rem ainder will be reissued in the same name and with the same date of issue as the note surrendered. 6. P a y m en t.— Paym ent of any note, either a t m aturity or on redemption before m aturity, will be made by any Federal Reserve Bank or Branch or the Treasury Departm ent, following clearance with the agent of issue, which will be obtained by the agent to which the note is surrendered. Paym ent will be made by check drawn to the order of the owner, and mailed to the address given in his request fo r payment. VI. PAYMENT OR REISSUE TO OTHER THAN INSCRIBED OWNER 1. D ea th o r d isa b ility .— In case of the death or disability of an individual owner and the notes are not to be presented in payment of taxes, payment will be made to the duly constituted representative of his estate, or they may be reissued to one or more of his heirs or legatees upon satisfactory proof of th eir rig h t; but no reissue will be made in two names jo in tly or as coowners. 2. D issolu tion o r m e r g e r o f co rp o ra tio n s, etc.— I f a corporation or unincorporated body, in whose name notes are inscribed, is dissolved, consolidated, merged or otherwise changes its organ ization, the notes may be paid to, or reissued in the name of those persons or organizations law fully entitled to the assets of such corporation or body by reason of such changes in organization. 3. B a n k ru p tcy .— I f an inscribed owner of notes is declared bankrupt or insolvent, payment, but not reissue, will be made to the duly qualified trustee, receiver or sim ilar representative if the notes are submitted with satisfactory proof of his appointm ent and qualification. 4. C red ito rs’ rig h ts.— Paym ent, but not reissue, will be made as a result of ju dicial proceed ings in a court of competent jurisdiction, if the notes are submitted with proper proof of such proceedings and th eir finality. 5. In stru ctio n s an d in fo rm a tio n .— B efore executing the request fo r payment or subm itting the notes under the provisions of this section, instructions should be obtained from a Federal Reserve Bank or B ranch or from the T reasu ry Departm ent, Division of Loans and Currency, W ashington 25, D. C. 16- 56026-1 VII. GENERAL PROVISIONS 1. R e g u la tio n s .— E xcep t as provided in this circu lar, the notes issued hereunder will be subject to the general regulations of the T reasu ry Departm ent, now or h ereafter prescribed, governing bonds and notes of the United S ta te s ; the regulations currently in force are contained in D epartm ent C ir cular No. 300, as amended. 2. L o ss, T h e ft o r D estru ctio n .— In case of the loss, th eft or destruction o f a savings note imme diate notice (w hich should include a full description of the note) shoud be given the agency which issued the note and instructions should be requested as to the procedure necessary to secure a duplicate. 3. F is c a l A g e n ts .— Federal Reserve Banks and th eir Branches, as fiscal agents of the United States, are authorized to perform such services or acts as may be appropriate and necessary under the provisions of th is circu lar and under any instructions given by the S ecretary of the Treasury, and they may issue interim receipts pending delivery of the definitive notes. 4. A m en d m en ts .— The S ecretary of the T reasu ry may a t any tim e or from tim e to tim e supple ment or amend the term s of this circular, or of any amendments or supplements thereto, and may at any tim e or from tim e to tim e prescribe amendatory rules and regulations governing the offer ing of the notes, inform ation as to which will prom ptly be furnished to the Federal Reserve Banks. JOHN W. SNYDER, Secretary of the Treasury. TREASURY SAVINGS NOTES— SERIES D TABLE OF TAX-PAYMENT OR REDEMPTION VALUES AND INVESTMENT YIELDS The table below shows for each month from date of issue to date of maturity the amount of interest accrual; the principal amount with accrued interest added, for notes of each denomination; the approximate investment yield on the par amount from issue date to the beginning of each month following the month of issue; and the approximate investment yield on the current redemption value from the beginning of the month indicated to the month of maturity. Par value (issue price during month of issue) Amount of interest accrual each month after month of issue $100.00 $500.00 $1,000.00 $5,000.00 $10,000.00 $100,000.00 Tax-payment or redemption values during each monthly period after month of issue 1 Interest accrues at rate of $0.80 per month per $1,000 par amount: First month . _ _ _ __ $100.08 $500.40 $1, 000. 80 $5, 004.00 $10, 008.00 $100,080.00 Second month __ _ .......... 100.16 500. 80 1,001.60 5, 008.00 10, 016. 00 100,160. 00 Third m o n th _____ 100. 24 501. 20 1,002. 40 10,024. 00 100, 240. 00 5, 012. 00 Fourth month___ . 100.32 501.60 1, 003. 20 10, 032.00 100,320. 00 5, 016. 00 502.00 Fifth month ____ _ _ _ _ 100. 40 100, 400. 00 1, 004. 00 5, 020. 00 10, 040. 00 Sixth m onth. __ 502.40 100. 48 1,004.80 5,024.00 10, 048.00 100, 480.00 Interest accrues at rate of $1.00 per month per $1,000 par amount: Seventh month . _ 502. 90 100. 58 1,005.80 5,029.00 100,580.00 10,058.00 Eighth month 100. 68 503.40 1, 006. 80 100, 680. 00 5, 034. 00 10,068. 00 Ninth month _ . _______ 100.78 503.90 1, 007.80 5, 039.00 100, 780. 00 10, 078.00 Tenth month 504.40 100. 88 1, 008. 80 5, 044.00 10,088. 00 100, 880. 00 504. 90 Eleventh m onth. 100. 98 100, 980.00 1,009.80 5, 049.00 10, 098. 00 Twelfth month . __ 101.08 505.40 1,010.80 5,054.00 10,108.00 101, 080. 00 Interest accrues at rate of $1.20 per month per $1,000 par amount: Thirteenth month __ _ 101.20 506.00 1, 012.00 5,060.00 10,120.00 101, 200.00 101.32 506.60 Fourteenth month _ 1,013.20 5, 066.00 10,132.00 101,320.00 507.20 Fifteenth month . 101. 44 1.014. 40 5,072.00 10.144. 00 101, 440.00 Sixteenth m onth. _ _ _ _ _ 101.56 507.80 1, 015.60 10,156. 00 101, 550.00 5,078.00 Seventeenth month 101.68 508.40 1, 016. 80 5,084.00 10,168.00 101, 680. 00 Eighteenth month 101.80 509.00 1,018.00 5,090.00 10,180.00 101,800.00 Interest accrues at rate of $1.30 per month per $1,000 par amount: 509.65 Nineteenth month _ 101.93 1,019.30 5,096.50 10,193.00 101,930.00 Twentieth month 102.06 510.30 5,103.00 1,020. 60 10, 206.00 102,060.00 102.19 510.95 1,021.90 Twenty-first m o n th ___ . _ 5,109.50 10, 219.00 102,190. 00 102.32 511.60 Twenty-second m onth. 1,023. 20 5,116.00 10, 232.00 102,320.00 102.45 512. 25 1,024.50 5,122. 50 Twenty-third m onth, __ __ 10, 245.00 102, 450.00 Twenty-fourth month___ _ 102.58 512.90 1,025.80 5,129.00 102,580.00 10, 258.00 Interest accrues at rate of $1.40 per month per $1,000 par amount: Twenty-fifth month. ___ 102. 72 513.60 1, 027. 20 5,136. 00 10, 272.00 102, 720.00 102. 86 514.30 Twenty-sixth month ___ 1,028.60 5,143.00 10, 286.00 102, 860.00 Twenty-seventh month _ 103. 00 515. 00 1.030.00 5,150.00 10, 300.00 103, 000.00 103.14 Twenty-eighth m o n th .. 515. 70 1,031.40 5,157. 00 10,314. 00 103,140.00 Twenty-ninth m o n th ... 103. 28 516.40 1, 032. 80 5,164.00 103, 280. 00 10, 328. 00 Thirtieth month___ 103. 42 517.10 1,034.20 5,171.00 10, 342.00 103, 420. 00 Thirty-first m onth. . . . 103. 56 517. 80 1, 035. 60 5,178. 00 10,356.00 ,103, 560.00 Thirty-second month ._ 103. 70 518. 50 1, 037.00 5,185. 00 10, 370. 00 103, 700.00 103. 84 519. 20 1,038.40 5,192.00 Thirty-third m o n th ... 10,384. 00 103, 840.00 Thirty-fourth month____ 103.98 519. 90 1,039.80 5,199.00 10,398. 00 103, 980.00 Thirty-fifth m o n th ___________ 104.12 520.60 1,041.20 5, 206.00 10,412.00 104,120.00 M A T U R IT Y _______________ $1,000,000.00 104.26 521.30 1,042.60 5, 213.00 10,426.00 104, 260.00 Approximate investment yield on par amount from issue date to beginning of each monthly period there after Approximate investment yield on current tax-payment or redemption values from beginning of each monthly period to ma turity Percent $500,000.00 Percent 2 1.40 $500, 400.00 500, 800.00 501, 200.00 501, 600. 00 502, 000.00 502,400.00 $1, 000, 800.00 1,001,600. 00 1.002, 400,00 1, 003, 200. 00 1, 004, 000. 00 1, 004,800. 00 .96 .96 .96 .96 .98 .98 1.41 1.42 1.44 1.45 1.47 1.48 502,900.00 503, 400. 00 503,900.00 504, 400.00 504, 900. 00 505,400.00 1, 005, 800.00 1, 006, 800. 00 1, 007, 800. 00 1, 008, 800. 00 1, 009, 800. 00 1, 010, 800.00 .99 1.02 1.04 1.05 1.07 1.08 1. 49 1.50 1.51 1.53 1.54 1.55 506,000. 00 506, 600.00 507. 200. 00 507, 800. 00 508, 400.00 509,000.00 1,012,000. 00 1, 013, 200.00 1, 014, 400.00 1, 015, 600. 00 1, 016, 800.00 1, 018,000.00 1.10 1.11 1.15 1.16 1.18 1.19 1.56 1.57 1.57 1.58 1.59 1.60 509,650.00 510, 300.00 510, 950. 00 511, 600.00 512, 250.00 512, 900.00 1, 019,300.00 1,020, 600. 00 1.021,900.00 1,023, 200.00 1,024,500.00 1,025, 800.00 1.21 1.23 1.24 1.26 1.27 1.28 1.60 1.61 1.61 1.62 1.62 1.63 513, 600.00 514,300.00 515, 000. 00 515, 700. 00 516, 400. 00 517.100. 00 517, 800. 00 518, 500. 00 519, 200.00 519, 900.00 520,600.00 1,027, 200.00 1,028, 600. 00 1,030, 000. 00 1,031, 400. 00 1, 032, 800. 00 1, 034, 200. 00 1, 035, 600. 00 1,037, 000. 00 1,038, 400.00 1,039,800. 00 1,041, 200.00 1.29 1.31 1.32 1.33 1.34 1.35 1.36 1.37 1.38 1.38 1.39 1.63 1.63 1.63 1.63 1.63 1.62 1.62 1.62 1.62 1.62 1. 62 521,300.00 1,042,600.00 1.40 1 Not acceptable in payment of taxes until during and after the second calendar month after the month of issue, and not redeemable for cash until during and after the fourth calendar month after the month of issue. 2 Approximate investment yield for entire period from issuance to maturity. U . S. GOVERNMENT P R IN TIN G O F F IC E 16--- 5 6 0 2 5 -1 Application Number B 499-100M-8-48 A PPLICA TIO N FO R UNITED STATES OF AMERICA TREASURY SAVINGS NOTES Series D F ed era l F R eserv e B a n k of N e w Y ork, A g e n t o f t h e U n it e d S t a t e s , G o v e r n m e n t B ond D e p a r t m e n t . D a te ............................................ , is c a l 194...... Pursuant to the terms of Treasury Department Circular No. 833, dated August 17, 1948, the under signed submits this application for $............................................ (face amount) Treasury Savings Notes, Series D, at par to be inscribed as follows: (Name— Please type or print) (Address—Please type or print) (F O R FO RM S O F IN SC R IPTIO N , see Section II, paragraph 4 of Treasury Department circular No. 833, dated August 17, 1948.) Please issue notes in the following denominations and deliver as indicated below: Number of Pieces Denominations Total Face Amount Do Not Use D is p o s it io n 100 0 Forward to owner by registered mail at address stated above 0 Forward to the bank or security dealer named below by registered mail 0 Deliver over the counter to the undersigned 500 1,000 5,000 10,000 100,000 500,000 1. | Special instructions : ...................................................... . 1,000,000 Paym ent in respect of th is application, is made as follows: □ By check and/or cash herewith. (The date funds are made available on collection of exchange will govern the issue date of the notes.) 0 □ By charge to our Reserve Account which is hereby author ized. (For use of member banks only) By Credit to our War Loan Deposit Account (For use of qualified depositaries only). The election to pay by credit will be deemed a certification by the officer who signs this sub scription form that the full amount of payment due on this subscription has been deposited on th e d ate h e re o f to the credit of the Federal Reserve Bank of New York, as fiscal agent of the United States, W ar Loan Deposit Account, to be held subject to withdrawal on demand. D E L IV E R Y R E C E IP T eceived from F e d e r a l R e s e r v e B a n k of N e w Y ork Signature of Purchaser. e above described Treasury Savings Notes, Series (This signature is not required, when application is submitted " o f the purchaser by a bank or security d ealer .) (Fill in all required spaces before signing) , in the amount indicated above. Application submitted by.. (Please print) ibscriber............................................................................. By.......... (Official signature required) (Title) ByStreet address....................................................... ate.. Received City, Town or Village, P.O. No., and State.. Checked Examined Recorded