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F E D E R A L R E S E R V E BANK
OF N E W YORK
Fiscal A g en t o f the U nited States
r C ircu la r N o . 3 7 5 2 T
S eptem ber 4, 1951 J

L

O FFE R IN G OF

1% Percent Treasury C r i i a e of Indebtedness of S r e C-1952
etfcts
eis
Dated and bearing interest from Septem ber 15, 1951

D ae August 15, 1952

IN E XC H A N G E FO R

3 Percent Treasury Bonds of 1951-55, Dated September 1 1931,
5,
Called fo Redemption on September 15 1951
r
,

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

The following statement was made public today:
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 C-1952, open on an exchange
basis, par fo r par, in authorized denominations, to holders o f 3 percent Treasury Bonds o f 1951-55
(dated September 15, 1931) in the amount o f $755,429,000, called for redemption on September 15,
1951. Cash subscriptions will n ot be received.
The certificates now offered w ill be dated September 15, 1951, and w ill 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 ugust 15, 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 Public 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, o r 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 accom panied by a like face amount o f the called bonds. Sub­
je ct to the usual reservations, all subscriptions w ill be allotted in full.
The subscription books will close fo r the receipt o f all subscriptions at the close o f business Friday,
September 7.
Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department,
and placed in the mail before midnight September 7, will be considered as having been entered before
the close o f the subscription books.

The terms o f this offering are set forth in Treasury Department Circular No. 892, dated
September 4, 1951, a copy o f which is printed on the reverse side.
The subscription books are now open and subscriptions 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.
(

o v e r

)

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 I F I C A T E S

OF

IN D E B T E D N E S S

OF

D a t e d a n d b e a r in g in te r e s t fr o m S e p t e m b e r 15, 1951
1951
D e p a r t m e n t C ir c u la r

S E R IE S

C -1 9 5 2

D u e A u g u s t 15, 1952

TREASURY DEPARTM ENT,

No. 8 9 2

O f f ic e
F is c a l S e r v ic e
B u r e a u o f t h e P u b li c D e b t

o f

t h e

S ecretary,

Washington, Septem ber 4,1951.
I.

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 Bond 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 C-1952, in
exchange fo r 3 percent Treasury Bonds o f 1951-55, dated September 15, 1931, due September 15, 1955,
called for redemption September 15, 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 will be dated September 15, 1951, and will bear interest from that date at the rate
of 1 % percent per annum, payable with the principal at m aturity on A ugust 15, 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 o r State, but shall be exempt from
all taxation 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 o f public moneys. They will not be acceptable
in payment o f taxes.
4. Bearer certificates will be issued in denominations o f $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
hereafter 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 m ay submit subscriptions fo r account o f 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 righ t 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 notice; and any action he may take in these respects shall be final. Subject to these
reservations, all subscriptions will be allotted in full. Allotm ent notices will be sent out prom ptly upon
allotment.
IV .

PAYM ENT

1. Payment at par fo r certificates allotted hereunder must be made on or before September 15, 1951,
or on later allotment, and may be made only in Treasury Bonds o f 1951-55, called for redemption
September 15, 1951, which will be accepted at par, and should accom pany the subscription. Final interest
due September 15 on the called bonds surrendered w ill be paid, in the case o f coupon bonds, by payment
o f the September 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 draw n in accordance with the assignments on the bonds
surrendered.
V.

A S S IG N M E N T

OF

R E G IS T E R E D

BONDS

1. Treasury Bonds o f 1951-55 in registered form tendered in payment fo r certificates offered here­
under 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 C-1952 to be delivered t o ............................ , ”
in accordance with the general regulations o f the Treasury Department governing assignments fo r 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 o f Loans and Currency, W ashington, 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 for 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
amendatory rules and regulations governing the offering, which will be communicated prom ptly to the
Federal Reserve Banks.
JOHN W . SN YD ER,



Secretary of the Treasury.

(SUBMIT W ITH DUPLICATE W HITE COPY)

S u b s c r ib e r ’ s R e fe re n ce N o.
E A -B

Subscription Num ber

i

United States of America 3 percent Treasury Bonds of 1951-55, dated September 15, 1931,
called for redemption on September 15, 1951, must be tendered in payment for this subscription.

EXCHANGE SUBSCRIPTION
F O R U N ITE D STA TE S O F A M E R IC A 1 % PE R C E N T T R E A S U R Y C E R TIFICATE S O F INDEBTEDNESS
O F SERIES C-1952, D A T E D SE PTE M B E R 15, 1951, DUE AU G U ST 15, 1952

Important
1. Please do not submit registered and coupon bonds on the same subscription.
2. Subject to the reservations in Treasury Department Circular No. 89 2 , dated September 4, 1951, all subscriptions will be
allotted in full.
3. Coupons due September 15, 1951 should be detached from the bearer securities tendered in payment of this subscription
and collected in the usual manner.
4 . Interest due September 15, 1951 on registered bonds will be paid in accordance with the assignments on the bonds
surrendered.
F

ederal

R eserve B a n k

op

N ew Y

ork,

D a t e d a t.

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

.1951

D ear S ir s :

Subject to the provisions o f Treasury Department Circular No. 892, dated September 4, 1951, the undersigned hereby
subscribes for United States o f America 1 % percent Treasury Certificates o f Indebtedness o f Series C-1952 as stated below :
F or own account........................................................................................................................................

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

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

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

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

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

and tenders in payment therefor a like par amount of United States o f America 3 percent Treasury Bonds of 1951-55,
dated September 15,1931, as follow s:
□ In bearer form
□ In registered form
, ,
Delivered to
you herewith $.............................
tv

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

Pay interest due September 15, 1951 on registered bonds as follow s:
By c h e c k ............................................................................. □
B y credit to our reserve account................................... □

□

BONDS SU RREN D ERED
In bearer form
□ In registered form

DENOMI­
NATION

C E R T IF IC A T E S D E S IR E D IN E XC H A N G E

LIST SERIAL NUMBERS
( I f insufficient space,
use back o f fo rtn )

FACE AMOUNT

DENOMI­
NATION

PIECES

$

50

FACE AMOUNT

LEAVE T H IS SPACE BLANK

1,000

100

5 ,0 0 0

500

10,000

1,000

100,000

5 ,0 0 0

1,0 0 0 ,0 0 0

10,000
5 0 ,0 0 0

100,000

1,000,000
TO T A L

TOTAL

Dispose o f
□ 1.
□ 2.
□ 3.
□ 4.

securities issued on this subscription as indicated below :
Deliver over the counter to the undersigned
□ 5. Special instructions:
Ship to the undersigned
H old in safekeeping (fo r member bank only)
H old as collateral for Treasury Tax and Loan
Account

(IM P O R TA 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 (i f a bank or trust company) hereby certifies that the securities which you are hereby instructed to dispose
of 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)
Subscription submitted by.
(P lease print)

TO S U B S C R IB E R :
Please indicate i f this is a confirmation.

YES.

B y.
(O fficia l signature required)

N O ...

(T itle )

Street address ................................
City, Town or Village, P. O. No., and State
Spaces below are for the use o f the Federal Reserve Bank of New York
V a u l t R ecord

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

Released
Taken from Vault-

Digitized forDelivered
FRASER


Checked by-

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 f 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 r n m e n t B o n d R ecord

Securities
received b y-

Checked by
and delivered-

Subscriber.
Date.

B y.

(Important—

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

List o f customers included in the foregoing subscription

Amount Subscribed




Name o f Customer
(Please print or use typewriter)

Address

DEN OM IN ATIONS AND SE R IA L NUM BERS OF BONDS SU RRENDERED

(D U P L IC A T E COPY FO R USE OF F E D E R A L R E SE R V E BAN K OF N E W Y O R K )
S u b s c r ib e r ’s R e feren ce N o.
EA-B 2

S ubscription N um ber

United State, of America 3 percent Treasury Bonds of 1951-55, dated September 15, 1931,
called for redemption on September 15, 1951, must be tendered in payment for this subscription.

EXCHANGE SUBSCRIPTION
F O R U N ITE D STATES O F A M E R IC A 1 % PE R C E N T T R E A S U R Y C E R TIFICA TES O F INDEBTEDNESS
O F SERIES C-1952, D A T E D SE PTEM BER 15, 1951, DUE AU G U ST 15, 1952

Important
1.

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

mllotted2'«nSf uU.eCt * ° ^
U

re•erVation, in

Department Circular No. 892, dated September 4, 1951, all subscriptions will be

.»d«„iLurr*\a
“u?r£»»b . I5,15 ‘hu b d ," hdt o ,h b r * c i,i"
"
91 o ld e e e r m e “ " e"r
•urrendt‘redntere,t ^
F

S* pt* mber 15, 1951 on r®*i*ter®d bonds will be paid in accordance with the assignments on the bonds

R eserve B

ederal

°f * i- ■ .cipic
h “‘■ r t .

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.

.1951

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

Subject to the provisions o f Treasury Department Circular No. 892, dated September 4, 1951, the undersigned herebv
subscribes for United States of America 1% percent Treasury Certificates o f Indebtedness o f Series C-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 o f America 3 percent Treasury Bonds o f 1951-55
dated September 15,1931, as follow s:
□ In bearer form
□ In registered form
_
•
[* Delivered to
you herewith $.............................

To be delivered to you
fo r our account by..... .

To be withdrawn from
securities held by you
for our a c c o u n t .........

Pay interest due September 15, 1951 on registered bonds as follows:
B y c h e c k ............................................................................. □
B y credit to our reserve account................................... □

□

BONDS SU RRENDERED
In bearer form
□ In registered form

DENOMI­
NATION

L
$

C E R T IF IC A T E S D E S IR E D IN E XC H A N G E

LIST SERIAL NUMBERS
( I f insufficient space,
use back o f fo rm )

face am ount

DENOMI­
NATION

PIECES

50

$

100

FACE AM OUNT

LEAVE T H IS SPA C E B L A N K

1 ,0 0 0
5 ,0 0 0

----------

500

1 0 ,0 0 0

1 ,0 0 0

1 0 0 ,0 0 0

5 ,0 0 0

1 ,0 0 0 ,0 0 0

1 0 ,0 0 0

X

X

X

X

X

5 0 ,0 0 0

X

X

X

X

X

1 0 0 ,0 0 0

X

X

X

X

X

1 ,0 0 0 ,0 0 0

X

X

X

X

X

TO T A L

TOTAL

i

Dispose o f
□ 1.
□ 2.
□ 3.
□ 4.

securities issued on this subscription as indicated below :
Deliver over the counter to the undersigned
□ 5. Special instructions:
Ship to the undersigned
H old in safekeeping (fo r member bank only)
H old as collateral for Treasury Tax and Loan
Account

(IM PO R TA 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 (if 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 il l in all required spaces b e fo re sig n in g )
S u b scrip tion su bm itted b y .
(P le a s e p r in t )

T O S U B S C R IB E R :
P lease in d ica te i f this is a confirm ation.

YES.

B y.
(T it le )

(O ff ic ia l s ig n a t u r e r e q u ir e d )

N O ...

Street address ..................................
C ity, Tow 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

a u lt

R

ecord

S

a f e k e e p in g

R

D elivered




B

ond

R

ecord

Checked b y -

S ecurities
received b y —

D elivery R eceipt
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 ation s in the am ount indicated above.

Counted
Checked

overnm ent

Securities
received b y -

R eleased
T aken fro m V a u lt-

G

ecord

Checked by
and d elivered------------

S u b scriber.
D a te.

B y.

(I m p o r t a n t — P I m m

d o mot M i b a i l r t f i i t o r W

u 4

eoapw

boad» m

U m mum a a b M r ip tio B .)

List of customers included in tbe foregoing subscription

Amount Subscribed




Name of Customer

Address

(Pleast pritU or tut typewriter)

DEN OM IN ATIO N S A N D S E R IA L NUM BERS O P BONDS SU RRENDERED

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