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FEDERAL RESERVE BANK
OF N E W YORK
Fiscal A gen t of the United States
r Circular No. 3 4 9 5 "1
L September 21, 1949 i

O F F E R IN G OF

1 % Percent Treasury Certificates of Indebtedness of Series H-1950
Dated and bearing interest from October 1, 1949

Due October 1, 1950

IN E X C H A N G E F O R

1*4 Percent Treasury Certificates of Indebtedness of Series G-1949,
Maturing October 1, 1949

To all Banking Institutions, and Others Concerned,
in the Second Federal Beserve D istrict:

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 H -1950, open on an exchange
basis, par for par, to holders of Treasury Certificates of Indebtedness of Series G-1949, in the amount
of $6,535,161,000, which will mature on October 1, 1949. Cash subscriptions will not be received.
The certificates now offered will be dated October 1, 1949, 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 October
1, 1950. 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 A ct of 1941, as amended, interest upon the certificates
now offered shall not have any exemption, as such, under the Internal Revenue Code, or laws amenda­
tory or supplementary thereto. The fu ll 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 maturing certificates.
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
Saturday, September 24.
Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department, and
placed in the mail before midnight September 24, 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. 850, dated
September 21, 1949, copy of which is printed on the reverse side.
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 subscrip­
tions 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

llan

S proul,

President.
(over)

UNITED STATES OF AMERICA
1 % P E R C E N T T R E A S U R Y C E R T I F I C A T E S O F I N D E B T E D N E S S O F S E R I E S H -1950
Dated and bearing interest from October 1, 1949

1949,

„

„

Due October 1, 1950

TREASURY DEPARTM ENT,

Department Circular No. 850

-------

O f f ic e o f t h e S e c r e t a r y ,

Washington, September 21, 1949.

B u r e a u o ft h e P a U te D e b t

I.

O F F E R IN G O F C E R T IF IC A T E S

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond A ct, as
amended, invites subscriptions, at par, from the people of the United States, for certificates of indebtedness
of the United States, designated 1 ^ percent Treasury Certificates of Indebtedness of Series H -1950, in
exchange for Treasury Certificates of Indebtedness of Series G-1949, maturing October 1, 1949.
II.

D E S C R IP T IO N O F C E R T IF IC A T E S

1. The certificates will be dated October 1, 1949, and will bear interest from that date at the rate of
percent per annum, payable with the principal at maturity on October 1, 1950. They will not be
subject to call for redemption 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 hereafter 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 payment 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 here­
after prescribed, governing United States certificates.
III.

S U B S C R IP T IO N 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
Department, Washington. Banking institutions generally may submit subscriptions for account of cus­
tomers, 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 reserva­
tions, all subscriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment.
IV .

PAYM ENT

1. Payment at par for certificates allotted hereunder must be made on or before October 1, 1949, or on
later allotment, and may be made only in Treasury Certificates of Indebtedness of Series G-1949, maturing
October 1, 1949, which will be accepted at par, and should accompany the subscription. The fu ll year’s
interest on the certificates surrendered will be paid to the subscriber following acceptance of the certificates.
V.

G E N E R A L P R O V IS IO N S

1. A s fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive
subscriptions, 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
amendatory rules and regulations governing the offering, which will be communicated promptly to the
Federal Reserve Banks.




JO H N W . SN Y D E R ,
Secretary of the Treasury.

(Subscriber’s Reference No.

Application Number

EA-C

N o te— Su bscriptions w ill be receiv ed at our w in dow until the close o f business Friday, Septem ber 23, 1949. H ow ever, any
subscription p la ced in the mail prior to m idnight, Saturday, S eptem ber 24, 1949, will be con sid ered a tim ely subscription.

United States of America 1% percent Treasury Certificates of Indebtedness of Series G-1949,
maturing October 1, 1949, must be tendered in payment for this subscription.
EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES H-1950, DATED OCTOBER 1, 1949, DUE OCTOBER 1, 1950
Im p orta n t— S u b je ct to the reservations in T reasu ry D epartm ent C ircu lar No. 850, dated Septem ber 21, 1949, all subscriptions w ill be
a llotted in fu ll.
F ed er al R eserve B a n k op N e w Y o r k ,

Dated at.

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

.1949

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

Subject to the provisions of Treasury Department Circular No. 850, dated September 21, 1949, the undersigned hereby
subscribes for United States of America 1 % percent Treasury Certificates of Indebtedness of Series H -1950 as stated below:
For own account......................................................................................................................................................

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

F or 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 1*4 percent Treasury Certificates of
Indebtedness of Series G-1949, maturing October 1, 1949, as follow s:
To be delivered to you
for our account by...

To be withdrawn from
Delivered to
securities held by you
you herewith $.......................................... for our account........... $.

P ay the proceeds of interest due October 1, 1949, on maturing securities as follows:
By c h e c k ............ ...........................................................................

□

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

$

Leave Blank

1,000

1. Deliver over the counter to the undersigned

□

2. Ship to the undersigned

Q

Pieces

3. Hold in safekeeping (for member bank only)

□

10,000

4. H old as collateral for W a r Loan deposits

□

5,000

5. Special instructions:

100,000
1,000,000
Total

IM PORTANT: 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, i f a bank or trust com pany, h ereby certifies that the securities w hich you are h ereby o r h erea fter instructed
to dispose o f in the m anner in dicated in items num bered 3 and 4 a b ove are the sole property o f the u ndersigned.
(F ill in all required spaces before signing)
Application submitted by.
TO SU BSCRIBER:

( Please print)

Please indicate i f this is a confirmation.

YES.

B v ...................

NO...

(Official signature required)

(r u le )

Street address ..................................
City, Town or Village, P. O. No., and State
S paces b elow are fo r the use o f the Federal R eserve Bank o f N ew Y ork
V

ault

R ecord

S a f e k e e p in g R ecord

Securities
received

Released
Taken from Vault-

Delivered



bv-

Checked bv-

Securities
received by-

Delivery Receipt
Received from F e d e r a l R e s e r v e B a n k o p N e w Y o r k the above described
United States Government obligations in the amount indicated above.

Counted
Checked

G o v e e n m e n t B o n d R ec or d

Checked by
and delivered-

Subscriber.
Date.

B y.

List of customers whose applications are included in the foregoing subscription

Am ount Subscribed




Name of Customer
{ Please print or use typewriter)

Address

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