View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F E D E R AL R E SE R V E BANK
OF N E W YORK
Fiscal A gen t o f the U nited States
r Circular No. 3 7 1 4 1
L
June 4, 1951
J

O FFE R IN G OF

1 % Percent Treasury Certificates o f Indebtedness o f Series A-1952
Dated and bearing interest from June 15, 1951

Due A p ril 1, 1952

IN E X C H A N G E FO R

2 % Percent Treasury Bonds o f 1951-54, Dated June 15, 1936, Called June 15, 1951
l 1 Percent Treasury Notes o f Series B-1951, Dated March 1, 1950, Maturing July 1, 1951
/^
1 % Percent Treasury Notes o f Series C-1951, Dated A p ril 1, 1950, Maturing July 1, 1951
1 % Percent Treasury Notes o f Series D-1951, Dated June 1, 1950, Maturing July 1, 1951

To all Banks, and Others Concerned,
in the Second F ederal R eserve D istrict :

The follow in g statement was made public tod a y:
Secretary o f the Treasury Snyder today announced the offering, through the Federal Reserve
Banks, o f 1% percent Treasury Certificates o f Indebtedness o f Series A-1952, open on an exchange
basis, in authorized denominations, to holders o f 2 % percent Treasury Bonds o f 1951-54 in the amount
o f $1,626,686,150, called fo r redemption on June 15, 1951, or 1*4 percent Treasury Notes o f Series
B-1951, Series C-1951 or Series D-1951, in the amounts o f $2,741,130,000, $886,286,000, and
$4,817,642,000, respectively, all m aturing on J u ly 1, 1951. Exchanges w ill be made par fo r par in the
case o f the called bonds, and at par with an adjustment o f interest as o f June 15, 1951, in the case o f
the three series o f notes. Cash subscriptions w ill not be received.
The certificates now offered will be dated June 15, 1951, and will bear interest from that date at
the rate o f one and seven-eighths percent per annum, payable with the principal at m aturity on A pril
1, 1952. They will be issued in bearer form only, in denominations o f $1,000, $5,000, $10,000, $100,000
and $ 1 ,000,000.
Pursuant to the provisions o f the P ublic Debt A ct o f 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 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, W ashington, and should be accompanied by a like face amount o f the called and m aturing
securities. Subject to the usual reservations, all subscriptions will be allotted in full.
The subscription books will close fo r the receipt o f all subscriptions at the close o f business
Thursday, June 7.
Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department,
and placed in the mail before m idnight June 7, will be considered as having been entered before the
close o f the subscription books.

The term s o f this offering are set forth in T reasury D epartm ent Circular No. 890, dated
June 4, 1951, a cop y o f which is printed on the reverse side.
The subscription books are now open and subscriptions w ill be received b y this Bank as
fiscal agent o f the U nited States. Cash subscriptions will not be received. E xchange subscrip­
tions should be made on official subscription blanks and m ailed im m ediately or, i f filed by
telegram or letter, should be confirm ed im m ediately b y mail on the blanks provided.




A

llan

S

proul,

P resid en t.
( over)

UNITED STATES OF AMERICA
17/s P E R C E N T T R E A S U R Y C E R T IF I C A T E S O F IN D E B T E D N E S S O F S E R IE S A-1952
D ated and bearing interest from June 15, 1951
D u e A p ril 1, 1952
D e p a rtm e n t C irc u la r N o . 890

TREASU RY DEPARTM ENT,

-------------------------------------------

FiscaTiervice
Bureau of the Public Debt

O F F IC E OF T H E SE C R E T A R Y,
1
VttShiUQtOflf JllTlG

I.

4, lO ol.

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

1. The Secretary o f the Treasury, pursuant to the authority o f the Second Liberty B ond A ct, as
amended, invites subscriptions, at par, from the people o f the United States fo r certificates o f indebtedness
o f the United States, designated 1 % percent Treasury Certificates o f Indebtedness o f Series A-1952, in
payment o f which any o f the follow ing listed Treasury securities, singly or in combinations aggregating
$ 1,000 or multiples thereof, may be tendered:
Treasury B on d s:
2% percent bonds o f 1951-54, dated June 15,1936, due June 15,1954, called fo r redemption June 15,1951.
Treasury N otes:
1 -/4 percent notes, Series B-1951, dated March 1, 1950, maturing July 1, 1951.
1 1 percent notes, Series C-1951, dated A p ril 1, 1950, maturing July 1, 1951.
A
1-J4 percent notes, Series D-1951, dated June 1, 1950, maturing July 1, 1951.
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 w ill be dated June 15, 1951, and will bear interest from that date at the rate of
1 % percent per annum, payable with the principal at maturity on A p ril 1, 1952. They will not be subject
to call fo r 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, g ift or other excise taxes, whether Federal or State, but shall be exempt from all taxa­
tion now or hereafter imposed on the principal or interest thereof by any State, or any o f the possessions o f
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 o f taxes.
4. Bearer certificates will be issued in denominations of $1,000, $5,000, $10,000, $100,000 and $1,000,000.
The certificates w ill not be issued in registered form.
5. The certificates will be subject to the general regulations o f 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, W ashington. Banking institutions generally may submit subscriptions fo r account of custom­
ers, but only the Federal Reserve Banks and the Treasury Department are authorized to act as official agencies.
2. The Secretary o f the Treasury reserves the right to reject any subscription, in whole or in part, to
allot less than the amount o f certificates applied for, and to close the books as to any or all subscriptions at
any time without n otice; and any action he may take in these respects shall be final. Subject to these reserva­
tions, all subscriptions w ill be allotted in full. Allotm ent notices will be sent out prom ptly upon allotment.
IV .

PAYMENT

1. Payment at par fo r certificates allotted hereunder must be made on or before June 15, 1951, or on
later allotment, and may be made only in Treasury Bonds o f 1951-54, called fo r redemption June 15,1951,
or in Treasury Notes o f Series B-1951, Series C-1951 or Series D-1951, all maturing July 1, 1951, which
will be accepted at par, and should accompany the subscription. F inal interest due June 15 on the called
bonds surrendered will be paid, in the case o f coupon bonds, by paym ent o f the June 15, 1951 coupons,
which should be detached by holders before presentation o f the bonds, and in the case o f registered bonds,
by checks drawn in accordance with the assignments on the bonds surrendered. Treasury Notes o f Series
B-1951 and Series C-1951 should be surrendered with the J u ly 1, 1951 coupons attached, and accrued
interest from January 1, 1951 to June 15, 1951 ($5.69751 per $1,000) will be paid follow in g acceptance o f
the notes, but not before June 15, 1951. In the case o f Treasury Notes o f Series D-1951, on which interest is
payable with principal, accrued interest from June 1, 1950 to June 15, 1951 ($12.97945 per $1,000) will be
paid follow ing acceptance o f the notes, but not b e fo re June 15, 1951.
V.

A S S IG N M E N T O F R E G IS T E R E D B O N D S

1.
Treasury Bonds o f 1951-54 in registered form tendered in payment fo r certificates offered hereunder
should be assigned by the registered payees or assignees thereof to “ The Secretary o f the Treasury fo r
exchange fo r Treasury Certificates o f Indebtedness o f Series A-1952 to be delivered t o ...................................
in accordance with the general regulations o f the Treasury Department governing assignments fo r trans­
fer 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 o f Loans and Currency, Washington,
D. C. The bonds must be delivered at the expense and risk o f the holders.
V I.

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

1. A s fiscal agents o f 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 o f the
Treasury to the Federal Reserve Banks o f the respective Districts, to issue allotment notices, to receive
payment fo r certificates allotted, to make delivery o f certificates on full-paid subscriptions allotted, and
they may issue interim receipts pending delivery o f the definitive certificates.
2. The Secretary o f 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 prom ptly to the Federal
http://fraser.stlouisfed.org/ Banks.
Reserve
Federal Reserve Bank of St. Louis

JOHN W. SNYDER, Secretary of the Treasury.

S u b s c r i b e r ’ s R e fe r e n c e N o .

S u b s c r ip t io n N u m b e r

E A -B

Use this form when United States of America 2 % percent Treasury Bonds of 1951-54, dated
June 15, 1936, called for redemption on June 15, 1951, are tendered in payment.

EXCHANGE SUBSCRIPTION
FO R UNITED STATES OF AMERICA 1 % PERCENT TREASU RY CERTIFICATES OF INDEBTEDNESS
OF SERIES A-1952, DATED JUNE 15, 1951, DUE APRIL 1, 1952

Im portant
1. Please do not submit registered and coupon bonds on the same subscription.
2. Subject to the reservations in Treasury Department Circular No. 890, dated June 4 , 1951, all subscriptions will be
allotted in full.
3. Coupons due June 15, 1951 should be detached from the bearer securities tendered in payment of this subscription and
collected in the usual manner.
4.
F

ederal

Interest due June 15, 1951 on registered bonds will be paid in accordance with the assignments on the bonds surrendered.
R

eserve

B ank

New Y

of

ork,

n

.

,

.

Fiscal Agent o f the United States,
m t e a at..........................................................................
Federal Reserve P. 0 . Station,
New York 45, N. Y .
................................................................................. 1901
Attention Government Bond Department— 2nd Floor
D ear S ir s :

Subject to the provisions o f Treasury Department Circular No. 890, dated June 4, 1951, the undersigned hereby
subscribes for United States o f America 1% percent Treasury Certificates o f Indebtedness of Series A-1952 as stated below:
F or own account.........................................................................................................................................

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

For our customers (fo r use o f banking institutions) as shown on reverse side o f this form

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

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

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

and tenders in payment therefor a like par amount of United States of America 2% percent Treasury Bonds of 1951-54,
dated June 15, 1936, as follows:
□ In bearer form
□ In registered form
Delivered to
you herewith $............................

To be delivered to you
for our account by.....

To be withdrawn from
securities held by you
for our account .........i

Pay interest due June 15, 1951 on registered bonds as follows:
B y c h e c k ............................................................................. □
B y credit to our reserve account................................... □
Issue and dispose o f 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. H old in safekeeping (fo r member bank only)

5,000

□

4. Hold as collateral for Treasury Tax and Loan
Account

10,000

□

5. Special instructions:

Par Value

Pieces

$

Leave Blank

100,000
1 ,000,000
Total
(IM PO R TAN 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 (i f a bank or trust company) hereby certifies that the securities which you are hereby instructed to dispose
o f in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
(F ill in all required spaces before signing)
Application submitted b y .
(Please print)

r’Y > SU B S C R IB E R :
j

Please indicate i f this is a confirmation.

YES..

B y.

NO

4

(Official signature required)

(Title)

Street address ................................
City, Town or Village, P . O. No., and State
Space* below are for the use o f the Federal Reserve Bank o f New York
V

ault

R ec or d

Securities
received by-

Released
Taken from Vault-

Securities
received by-

Counted
Checked
Delivered




G o v e r n m e n t B o n d R ecord

S a f e k e e p i n g R ec or d

Checked b yDelivery 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.

Checked by
and delivered-

Subscriber.
Date.

B y.

(Important

Please do not submit registered and coupon bonds on the same subscription.)

L s of customers included i the foregoing s b c i t o
it
n
usrpin

Am ount Subscribed




Name o f Customer
( P le a s e p r in t o r u s e t y p e w r it e r )

Address

Subscriber’s Reference No.

S ubscription N um ber

EA-N

Use this form when United States of Amercia 1 % percent Treasury Notes of Series B-1951,
Series C-1951 and Series D-1951, maturing July 1, 1951, are tendered in payment.

EXCHANGE SUBSCRIPTION
FO R UNITED STATES OF AMERICA 1 % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES A-1952, DATED JUNE 15, 1951, DUE APRIL 1, 1952
Important—
F

ederal

Subject to the reservations in Treasury Department Circular No. 89 0 , dated June 4, 1951, all subscriptions will be
allotted in full.

R eserve B a n k

op

N ew Y

ork,

Dated at.

Fiscal Agent o f the United States,

Federal Reserve P. 0 . Station,
New York 45, N. Y .
Attention Government Bond Department— 2nd Floor
D

ear

.1951

S ir s :

Subject to the provisions o f Treasury Department Circular No. 890, dated June 4, 1951, the undersigned hereby
subscribes for United States o f America 1 % percent Treasury Certificates o f Indebtedness o f Series A-1952 as stated below:
F or own account........................................................................................................................................

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

F or our customers (fo r use o f banking institutions) as shown on reverse side o f this form

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

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

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

and tenders in payment therefor a like par amount o f United States of America l 1 percent Treasury Notes maturing
/*
July 1, 1951, as follows:
( A separate subscription should he submitted for each note issue tendered— Check one)
[]

1U

Percent Treasury Notes of
Series B-1951

Dated M a r c h 1, 1 9 5 0

^ 1

Due J u l y 1 , 1 9S 1

Percent Treasury Notes of
Series C-1951

Dated A p r i l 1 , 1 9 S 0

[]

1*4 Percent Treasury Notes of
Series D-1951

Dated June

Due July 1 , 1 9 5 1

1, 1 9 5 0

Due July 1 , 1 9 5 1

$ .................................................................. fa c e am ount
A ccru ed interest fr o m Ju ne 1, 1950 to June
15, 1951 on the notes surrendered ($12.97945
per $1,000) w ill be p aid to subscriber fo llo w ­
in g acceptan ce o f the notes.

J u ly 1 , 1 95 1 cou p on m ust b e attached to S eries B -1951 and Series C-1951 notes surrendered.
A ccru ed interest fr o m Ja n u a ry 1, 1951 to Ju ne 15, 1951 on the notes surrendered ($5.69751
p er $ 1 ,0 0 0 ) w ill b e p a id to the su bscriber fo llo w in g acceptan ce o f the notes.

D elivered to
you herewith

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

T o b e delivered to you
f o r our accoun t b y ...

T o be w ithdraw n fro m
securities hold b y you
fo r our a c c o u n t............

Pay on June 15, 1951 the accrued interest due on above securities as follow s:
B y check ............................................................................. □
By credit to our reserve account ................................... □
Issue and dispose o f 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

Pieces

□

P a r V alu e

$

L eave B lank

1. Deliver over the counter to the undersigned

I | 2. Ship to the undersigned
□

10,000

4. Hold as collateral for Treasury Tax and Loan
Account

□

5,000

3. H old in safekeeping (fo r member bank only)

□

1,000

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 o f securities as to which different delivery instructions are given.)
of

The undersigned ( i f a bank or trust company) hereby certifies that the securities which you are hereby instructed to dispose
in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
(F ill in all required spaces b e fo re sig n in g )

A p p lica tion subm itted b y .
(Please print)

TO S U B S C R I B E R :
Please in d icate i f this is a confirm ation.

YES.
B y.

NO...

(T itle)

(Official signature required)
S treet address ..................................
C ity, T ow n or V illa g e, P . O. N o., and State

Spaces below are for the use of the Federal Reserve Bank of New York
V

au lt

R ec or d

S a f e k e e p in g R

Securities
received b y -

R eleased
T aken fro m V a u lt-

Securities
received b y -

Counted
Checked


D elivered


G o v e r n m e n t B o n d R ecord

ecord

Checked b y Delivery Receipt

R eceived fr o m F e d e r a l R e s e r v e B a n k o f N e w Y o r k the above described
U nited S tates Governm ent ob lig a tion s in the am ount indicated above.

Checked b y
and d elivered -

S u b scrib er.

Date.

B y.

List o f customers included in the foregoing subscription

Amount Subscribed




Name o f Customer
( P l e a s e p r in t o r u s e t y p e w r i t e r )

Address

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