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FED ERAL RE SE R V E BANK OF NEW YORK r Circular No. 4 0 5 1 *1 L December 7, 19S3 J CASH OFFERIN G 2 1/4 Per Cent Com m odity Credit Corporation Certificates o f Interest Dated December 17, 1953 Due August 2, 1954 T o A l l C o m m e r c ia l B a n k s in th e S econ d F ed era l R eserv e D is tr ic t: The Commodity Credit Corporation (CCC) has informed us that it has consolidated in a pool outstanding commodity loans on cotton. CCC is inviting commercial banks (defined as banks accepting demand deposits) to participate in financing $450,000,000, or thereabouts, of these loans and, accordingly, is offering to the banks 2*4 per cent Certificates o f Interest, to be dated December 17, 1953, to evidence such participation. The terms o f this offering are set forth in an announcement of the CCC, printed on the following pages. The Certificates will mature on August 2,1954, but will be purchased by CCC prior to maturity upon demand. These Certificates will be issued in registered form only but may be transferred (in the manner pre scribed in numbered paragraph 4 of the CCC announcement) to any commercial bank, Federal Reserve Bank, or such other banking institution as may be determined by CCC to be eligible. Assignment form s fo r effecting transfers will be forw arded to certificate holders with copies o f their certificates; additional assignment form s may be obtained from this Bank upon request. These Certificates of Interest may be purchased by national banks under the provisions of paragraph 10 o f Section 5200 of the Revised Statutes o f the United States. The New Y ork State Banking Board amended General Regulation Number 9 to provide that the restrictions on extensions of credit contained in Subdivision 1 o f Section 103 o f the Banking Law shall not be applicable to these Certificates; the amendment will expire August 2, 1954. The Commissioner o f Banking and Insurance and the Banking A dvisory Board o f the State of New Jersey amended Order No. 2 to permit a bank to purchase these Certificates to an amount not in excess o f 25 per cent of the aggregate of its unimpaired capital stock and surplus. B y reason o f an amendment to Treasury Department Circular No. 92 (Revised) these Certificates will be eligible as collateral fo r Treasury Tax and Loan Accounts at face amounts less any repayments thereon, provided they are accompanied at the time o f pledge by properly executed assignment forms. These Certificates will also be eligible as collateral fo r advances by Federal Reserve Banks to member banks under the provisions o f Section 2 (a ) o f Regula tion A , as amended. In the interest of an equitable distribution o f these Certificates, banks are requested by CCC to limit their applications to am ounts not to exceed one-half o f their p resen t capital, sur plus and undivided profits. Payment fo r these Certificates must be made in immediately available funds on December 17, 1953. A member bank may make payment by authorizing us to charge its reserve account; it is suggested that a nonmember bank make payment by requesting its correspondent member bank to authorize us to charge the latter’s reserve account. P aym ent fo r these C ertificates cannot be made by credit to T rea su ry T a x and Loan A ccou nt. The subscription books will be open on December 10, 1953, fo r one day o n ly ; applications addressed to the Head Office o f the Federal Reserve Bank o f New Y ork and postmarked prior to midnight o f that day will be considered timely applications. Subscriptions should be made on the official application form s (F orm No. 90-3), a copy o f which is enclosed. Additional copies o f this circular will be furnished upon request. A ll a n S proul, P resident. COMMODITY CREDIT CORPORATION ANNOUNCEMENT CHF-2 DECEMBER 7, 1953 Offering Commercial Banks the Opportunity to Finance Price Support Loans on Cotton Which Were Originally Disbursed by CCC or Purchased by CCC From Lending Agencies A M O U N T O F O F F E R IN G $450,000,000 O R T H E R E A B O U T S SECTION I— OFFER OF PARTICIPATION C om m od ity C re d it C o rp o ra tio n (h e re in a fte r ca lled “ 0 0 0 ” ) has con solida ted in a new p o o l (h erein a fte r r e fe rre d to as the “ P o o l” ) ou tsta n d in g p r ic e s u p p o rt cotton loan s o f the 1952 cro p an d 1953 crop cotton loan s to coop era tive associations w h ich h ave p re v io u s ly been h eld in separate p ools. These loan s now tota l $472,000,000. C ertificates o f In terest (h e re in a fte r ca lled “ C ertifica tes” ) o f a p p ro x im a te ly $18,000,000 are cu rre n tly ou tsta n d in g on these p o o le d loans. These ou tsta n d in g C ertificates m ay, a t the C ertificate h o ld e r ’s op tion , be sold to C C C o r ex ch a n g ed f o r C ertificates issued u p o n the term s an d co n d itio n s o f S e ctio n I I o f th is A n n ou n cem en t, w h ich C ertificates shall resp ectiv ely be in fa c e am ounts equ al to the va lu e o f th e exch an ged C ertificates a n d shall bear th e issue date an d rate o f in terest sh ow n o n the exch a n g ed C ertificates. H old ers o f su ch C ertificates h ave been sep a ra tely advised o f this op tion . (T h is A n n o u n ce m e n t w ill in n o w a y affect the op era tio n o f p oo ls o f loan s evid en ced b y 1953 C otton P r o d u c e r ’s N ote a n d L o a n A greem en t (C C C C otton F o rm A ) sin ce these loa n s are n o t in clu d e d in the P o o l w ith resp ect to w h ich C ertificates w ill be issued p u rsu a n t to th is A n n o u n ce m e n t.) C om m ercial B anks, w h ich fo r this p u rp ose are defined as banks a cce p tin g d em an d deposits, (h e rein a fter called “ B a n k s” ) m a y p a rticip a te in the fin a n cin g o f p r ic e su p p o rt cotton loan s p la ce d in the P o o l b y m aking fu n d s a vailable to C C C at the F e d e ra l R eserve B a n k o f C hicago, F is c a l A g e n t f o r C C C , (h erein a fte r called “ C u sto d ia n ” ) . C ertificates in the am ou n t o f $450,000,000 o r thereabouts, b e a rin g in terest at th e rate o f 2 ^ p e rce n t p e r annum , w ill be issued p u rsu a n t to this A n n ou n cem en t to the ex ten t o f the avail able balan ce to evid en ce p a rticip a tio n in the P o o l. C ertificates w ill m ature on A u g u s t 2 ,1 9 5 4 , b u t w ill be p u rch ased b y C C C p r io r to m a tu rity u p o n dem and. T he term s a n d co n d itio n s n p o n w h ich B ank s m ay p a rticip a te in th e P o o l are set fo r th in S ection I I o f this A n n ou n cem en t. B anks w h ich d esire to p a rticip a te in the fin a n cin g o f the P o o l shall m ake a p p lica tio n to the F ed era l R eserve B an k or B ra n ch o f the d istrict in w h ich th ey are located. A p p lic a tio n s m a y be m ade on fo rm s w h ich w ill be a vailable a t a n y F e d e ra l R eserve B a n k o r B r a n c h o r b y w ire o r m ail. A p p lic a tio n s sh ou ld be m ade f o r C ertificates in m u ltip les o f $1,000 an d f o r n o t less th an $5,000. B ook s fo r th e re ce ip t o f a p p lica tion s w ill be op en ed f o r on e d a y o n ly , D ecem b er 1 0 ,1 9 5 3 . A p p lica tio n s addressed t o a n y F e d e ra l R eserve B a n k o r B ra n ch a n d postm a rk ed p r io r to m id n ig h t D ecem b er 10, 1953, w ill b e con sid ered in th is offe rin g o f p a rticip a tio n C ertificates. C C C reserves the rig h t to r e je ct a n y a p p li cation , in w h ole o r in p a rt, o r to allot less than th e a m ou n t o f C ertificates a p p lie d fo r , a n d its decision in these respects shall be final. A p p lic a n ts w ill be in fo r m e d o f allotm en ts as soon as possible a fte r clo sin g o f th e books. T he p u rch a se p rice o f the C ertificates w ill be 100 p e rce n t o f the fa ce am ount th ereof. P a y m en t f o r the C ertificates a llotted shall be m ade th ro u g h the F e d e ra l R eserve B a n k or B ra n ch where a p p lica tio n was filed in fu n d s available at the F e d e ra l R eserve B a n k o f C h icago o n D ecem b er 17, 1953, an d C ertificates w ill be issued as o f that date. I n the event the total a m ou n t a vailable is n o t a p p lied fo r , the a m ou n t rem a in in g w ill be a n n ou n ced an d w ill be available t o a p p lica n ts in the o rd e r o f re ce ip t o f their a p p lica tion s b y th e C ustodian. T o the P o o l fr o m tim e to tim e there w ill be a d d e d oth er p r ic e su p p o rt cotton loans. A le n d in g agency w h ich m akes lo a n advances to coop era tive associations o n 1953 cro p cotton p u rsu a n t to an agreem ent w ith C C C w ill receive a C ertificate equal to the am ou n t o f su ch loan advances b e a rin g in terest a t the rate p re scrib ed in th e agreem ent an d the a p p lica b le loa n s w ill be p la ce d in th e P o o l. F u r th e r offerin gs o f C ertificates to the exten t o f the available balan ce in the P o o l m a y be m ade b y C CC . SECTION II— TERMS AN D CONDITIONS C ertificates ev id en cin g p a rticip a tio n in the P o o l w ill be issued u p o n the fo llo w in g term s a n d c o n d itio n s : 1. T he F e d e ra l R eserve B a n k o f C hicago, F isca l A g e n t fo r C C C , (h e re in a fte r ca lled “ C u stod ia n ” ) w ill issue C ertificates a n d a ct as C u stodian o f the C ertificates f o r the h olders th ereof. 2. T he a g g reg a te valu e o f all ou tsta n d in g C ertificates w ill n o t exceed the a m ou n t o f the P o o l. C u stodian w ill reta in the C ertificates an d w ill fu rn ish each orig in a l h old er w ith a c o p y th ereof. The 3. T he C ertificates w ill b e issued as o f the date on w h ich fu n d s th e re fo r are cred ited b y the C ustodian to the accou n t o f C C C e x ce p t th a t (1 ) w hen a C ertificate is issued in exch ange f o r an ou tsta n d in g C ertifi cate, it sh a ll bear the issued date o f the C ertificate fo r w h ich it was exch an ged or ( 2 ) w hen a C ertificate is issued to a len d in g a g en cy in the a m ou n t o f a 1953 cro p cotton loa n advan ce m ade b y su ch le n d in g a g en cy to a coop era tive association p u rsu a n t to a n agreem en t w ith C C C , it shall b ea r the date o n w h ich the loan advan ce is m ade b y p a ym en t o f the d r a ft f o r the advan ce. T he fa ce a m ou n t o f the C ertificate, less p rin cip a l paym en ts thereon, w ill con stitute the valu e o f the C ertificate. In terest at the rate show n on the Certificate w ill be p a y a b le at the tim e a n d u p o n the am ou n t o f each p r in c ip a l p a y m en t m ade u p o n the C ertificate an d w ill be com p u ted o n a 365-day basis fr o m a n d in clu d in g the date o f the C ertificate to, b u t n o t in clu d in g , the date o f su ch paym ent. 4. T he C ertificate m ay be tra n sfe rre d to an y com m ercial bank, F e d e ra l R eserve B ank or su ch other b a n k in g in stitu tion as m ay be d eterm in ed b y C C C to be eligible, b y execu tion o f an A ssign m en t o f C ertifi cate o f In terest (C om m od ity C red it C orp ora tion F o r m 320, h erein a fter called “ A ssig n m e n t” ) . T ra n sfers w ill be re cord ed as o f the date o f receip t an d a ccep ta n ce o f su ch A ssign m en t b y the C ustodian or as o f the date o f re ce ip t b y the C u stodian o f teleg ra p h ic ad vice o f su ch A ssig n m en t i f such ad vice is p r o m p tly co n firm ed b y th e d e liv e ry to the C ustodian o f a d u ly execu ted A ssign m en t. I n the event o f annou n cem en t b y C C C , as p ro v id e d in p a ra g ra p h 6 h e re o f, that C ertificates w ill be p u rch a sed d u rin g a designated m onth, A ssign m en ts a n d teleg ra p h ic a d vices receiv ed d u rin g the first te n ca len d a r days o f that m onth w ill n o t be record ed p r io r to the ex p ira tio n o f su ch period . 5. C C C w ill, u p o n dem and b y the C ertificate h o ld e r o f re c o r d to the C ustodian, p u rchase th rou gh a n y F ed era l R eserve B an k o r B ra n ch a n y ou tsta n d in g C ertificate at a n y tim e b y p a y in g to the C ertificate h older o f re co rd the valu e th e re o f p lu s a ccru e d interest. C C C w ill p u rchase a t m a tu rity a ll ou tsta n d in g Certificates. 6. C C C reserves the rig h t to p u rchase at its o p tio n a n y ou tsta n d in g Certificate, in w h ole or in p a rt, and w ill, in the even t the v a lu e o f the ou tsta n d in g C ertificates o n the last d a y o f a n y m onth p r io r to m a tu rity exceeds the u n p a id p r in cip a l o f the loan s co m p risin g the P o o l as determ in ed b y C C C d u rin g th a t m onth, purchase ou tstan d in g C ertificates, in w hole o r in p a rt, in a tota l am ou n t sufficient to red u ce the ou tsta n d in g C ertifi cates to the u n p a id p r in c ip a l a m ou n t o f the loan s co m p risin g the P o o l. C C C w ill p a y fo r a n y C ertificate p u rchased, in w hole o r in p a rt, a ll o r the respective p a r t o f the v a lu e o f the C ertificate p lu s a ccru e d interest on such am ount. A n y purchase b y C C C o f ou tsta n d in g C ertificates, in w h ole o r in p a rt, ex cep t as p ro v id e d in p a ra g ra p h 5, w ill be m ade o n ly d u r in g the first ten ca len d a r days o f a m on th a n d C C C w ill a n n ou n ce b y press release o n the first business d a y o f each m onth p r io r to m a tu rity w h eth er a n y pu rchases o f Certificates, in w h ole o r in p a rt, w ill be m ade d u r in g the m onth. P a ym en ts fo r su ch pu rchases w ill be m ade d u rin g the first ten calen d a r days o f such m on th to th e C ertificate h old ers o f re c o rd as o f the last d a y o f the p re ce d in g month. 7. N o M em ber o f, or D elegate to, C ongress, or a n y R esid en t C om m issioner, w ill be ad m itted to an y share o r p a rt o f th is co n tra ct o r to a n y benefit to arise th erefrom ex cep t th a t this p rov ision w ill n o t be c o n stru ed to exten d to th eir in terest in a n y in co rp o ra te d com p a n y , i f the con tra ct be f o r the gen eral benefit o f su ch com p an y. 8. T h e a p p lica n t B a n k w arran ts that it has n o t e m p loyed an y p e rso n to solicit o r secure th is con tract u p o n a n y agreem en t fo r a com m ission, p ercen tage, brok era ge, o r con tin g en t fe e a n d that n o such con sidera tio n o r p aym en t has been o r w ill be m ade. B re a ch o f this w a rra n ty w ill give C C C th e rig h t to a n nu l the con tra ct, o r a t its d iscretion , to d e d u ct fro m th e co n tra ct con sid era tion the am ount o f such com m ission, p ercen tage, brokerage, o r con tin g en t fees. T his w a rra n ty w ill n o t a p p ly to com m issions p a y a b le b y the a p p lica n t B an k u p o n con tracts secu red o r m ade th rou g h bon a fide em ployees o r bon a fide established com m ercial o r sellin g agencies u tilized b y the a p p lica n t B a n k fo r the p u rp ose o f secu rin g business. SECTIO N III— PU R PO SE A N D F IN A N C IA L O R G A N IZ A T IO N OF CCC T he C om m od ity C red it C o rp o ra tio n engages in b u y in g , sellin g, len d in g , an d oth er activities w ith respect to a g ricu ltu ra l com m odities, th eir p rod u cts, fo o d s , feed s, an d fibers fo r the p u rp ose o f stabilizin g, s u p p o rt in g, a n d p rotectin g fa rm in com e and p rices, assisting in the m aintenance o f b a la n ced a n d adequate su p plies o f such com m od itie s ; an d fa cilita tin g th e ir o r d e r ly d istrib u tion . The C o rp o ra tio n also makes available m aterials and fa cilitie s req u ired in con n ection w ith the p ro d u ctio n an d m ark etin g o f such com m odities. T he C orp ora tion is m an aged b y a b o a rd o f d irectors, s u b je ct to the general su p erv ision an d d irection o f the S ecretary o f A g r ic u ltu r e , w h o is, ex officio, a d ire cto r an d the ch airm an o f the boa rd . In a d d ition to the S ecretary, the b o a rd consists o f six m em bers a p p o in te d b y the P resid en t an d con firm ed b y the Senate. T here is also a b ip a rtisa n a d v isory b o a rd o f five m em bers a p p o in te d b y the P resid en t to su rvey the general p olicies o f the C orp ora tion an d advise the S ecreta ry w ith resp ect thereto. T he C orp ora tion has an a u th orized ca p ita l stock o f $100 m illion , all o f w h ich is h eld b y the U n ited States, an d a u th ority to b o rro w u p to $6.75 b illio n . O n S eptem ber 30, 1953, ou tsta n d in g com m itm ents against this a u th ority am ou n ted to $4.39 b illio n . C C C w ill at a ll tim es h old in reserve an am ount o f its b o rro w in g au th ority sufficient to cover ou tsta n d in g Certificates. J. J. SOMERS, Controller, Commodity Credit Corporation. GOVERNMENT BOND DE P A R T M E N T F E D E R A L R E S E R V E BANK O F NEW YORK NOTICE OF ALLOTMENT For Commodity Credit Corporation 2 1 /4 Per Cent Certificates of Interest T o S u b s c r ib e r : Referring to your application for $ (face amount) of Commodity Credit Corporation 2 1 /4 per cent Certificates of Interest, dated December 17, 1953,due August 2, 1954, which you filed with us pursuant to the provisions of Commodity Credit Corporation Announcement CHF-2, dated December 7, 1953, the amount of participation allotted to you by the Commodity Credit Corporation is — $ D E LIV E R Y .—A s stated in the official announcement, the original Certificates will be held by the Federal Reserve Bank of Chicago, Fiscal Agent and Custodian of Commodity Credit Corporation; an authenticated copy with assignment form attached will be mailed by the Custodian direct to each purchaser. Payment for the total amount of Certificates allotted to you must be made on or before December 17, 1953, in immediately available funds. F E D E R A L R E SE R V E BANK OF NEW YORK F E D E R A L R E S E R V E BANK GOVERNMENT BOND DE P A R T M E N T OF NEW YORK NOTICE OF ALLOTMENT For Commodity Credit Corporation 2 1 /4 Per Cent Certificates of Interest T o S u b scrib er: -| r L_ _1 Referring to your application for $ (face amount) of Commodity Credit Corporation 2 1 /4 per cent Certificates of Interest, dated December 17, 1953,due August 2, 1954, which you filed with us pursuant to the provisions of Commodity Credit Corporation Announcement CHF-2, dated December 7, 1953, the amount of participation allotted to you by the Commodity Credit Corporation is — $ D E LIV E R Y .—A s stated in the official announcement, the original Certificates will be held by the Federal Reserve Bank of Chicago, F iscal Agent and Custodian of Commodity Credit Corporation; an authenticated copy with assignment form attached will be mailed by the Custodian direct to each purchaser. Payment for the total amount of Certificates allotted to you must be made on or before December 17, 1953, in immediately available funds. F E D E R A L R E SE R V E BANK OF NEW YORK Ref. No. Form N o . 9 0 - 3 APPLICATION FORM AND PAYMENT LETTER 2Va % CERTIFICATES OF INTEREST OF THE C O M M O D ITY CREDIT CORPORATION Dated December 17, 1 953 Due A u g u st 2, 1954 Date------------------------------------------------- A p p lication filed through the Federal Reserve B a n k o r Branch o f -------------------------------------------------------------------(T o be filed w ith Federal Reserve B a n k o r B ranch of the D istrict in w hich a p p lic a n t is located .) To Federal Reserve Bank o f C hica go Fiscal A g e n t a n d Custodian of Com m odity Credit Corporation Gentlem en: Pursuant to the terms and conditions o f the official Announcem ent C H F-2, dated Decem ber 7, 1953, o f the Com m odity Credit Corporation the undersigned hereby applies for $ ---------------------------------face am ount o f the Certificates o f Interest described therein. <,ee no,e be,ow) N O T E : A p p lic a tio n s m ust be in m ultiples of $ 1 , 0 0 0 except that n o certificate w ill be issu e d fo r le ss th a n $ 5 , 0 0 0 . Paym ent for total am ount allotted hereon to be m ade on or before Decem ber 17, 1953, a s follow s: (P a y ment b y Treasury Tax a n d Loan credit not permitted.) □ By C h a rg e to o ur reserve account at the Federal Reserve Bank o f--------------------------------------------------------------- Q By Check in imm ediately a va ila b le funds. □ By C h a rg e to reserve account of--------- ( M a in Office O R B ranch w h ere reserve account is ca rried ) ( A p p r o p r ia t e in stru c tio n s to c o rre sp o n d e n t n e ce ssa ry) Repaym ents at or before maturity a s provided in the official An no u ncem en t are authorized to be m ade b y credit to o u r reserve account (in case o f member b a n k s ) o r b y check (in case o f nonm em ber b a n k s ). Certificate to b e inscribed a n d co p y thereof m ailed to: (P le a se type o r print.) N a m e o f B ank----------------------------------------------------------------------------------------------------Street A d d re ss-----------------------------------------------------------------------------------------------------C ity o r Tow n-------------------------------------------------------------------------------------------------------Sta te-------------------------------------------------------------------------------------------------------------------- O fficia l S ig n a tu r e (A .B .A . N o. Original— To be forwarded to Federal Reserve Bank of Chicago by Federal Reserve Bank or Branch receiving application. F o r U se o f F e d e ra l R eserve B a n k o f C h ic a g o Typed by-------------------------------------------------------- Allotted $. C hecked by---------------------------------------------------- Com puted by. Date Sh ippe d o r Delivered____________________ C hecked by__ By----------------------------------------------------------------- Date Paym ent Received- Ref. No. Form N o . 9 0 - 3 APPLICATION FORM AND PAYMENT LETTER 2 lA % CERTIFICATES OF INTEREST OF THE C O M M O D ITY CREDIT CORPORATION Dated December 17, 1 953 Due A u g u st 2, 1954 Date__________________________________ Ap plication filed through the Federal Reserve B a n k or Branch o f ________________________________________________ (T o b e filed w ith Fed e ral Reserve B a n k o r B ranch o f the D istrict in w h ich a p p lic a n t is located .) To Federal Reserve B ank o f C h ic a go Fiscal A g e n t a n d C ustodian o f Com m odity Credit C orporation Gentlem en: Pursuant to the terms a n d conditions o f the official Announcem ent CH F-2, dated Decem ber 7, 1953, of the Com m odity Credit C orporation the undersigned hereby applies for $ _______________________face am ount of the Certificates o f Interest described therein. f*ee no,e b«low) N O T E : A p p lic a tio n s m ust be in m ultip les o f $ 1 , 0 0 0 except that n o certificate w ill be issu ed fo r le ss th a n $ 5 , 0 0 0 . Paym ent for total am ount allotted hereon to be m ade on or before Decem ber 17, 1953, a s follow s: (P a y ment b y Treasury T ax a n d Loan credit not permitted.) □ By C h a rg e to our reserve account at the Federal Reserve Bank o f____________________________________________ □ By Check in im m ediately ava ila b le funds. □ By C h a rg e to reserve account o f--------- ( M a in O ffice O R B ra n c h w h ere reserve account is ca rried ) ( A p p r o p r ia t e instructio ns to c o rre sp o n d e n t n e c e ssa ry ) Repaym ents at o r before maturity a s provided in the official A n nouncem ent are authorized to be m ade by credit to o u r reserve account (in case o f member b a n k s ) o r b y check (in case o f nonm em ber b a n k s). Certificate to be inscribed a n d co p y thereof m ailed to: (P le a se type o r print.) N a m e o f Bank______________________________________________________________________ Street Address. City o r Town. State_________ O fficia l S ig n a tu r e (A .B .A . N o _______________ ) Duplicate— To be forwarded and retained by Federal Reserve Bank receiving application. F o r U se o f F e d e ra l R eserve B a n k Allotted $ _________________ C om p uted by_ C hecked b y — D ate Paym ent Received. Form N o . 9 0 - 3 R e f # fs|0 . APPLICATION FORM AND PAYMENT LETTER 2 1/4 % CERTIFICATES OF INTEREST OF THE C O M M O D IT Y CREDIT CORPORATION Dated December 17, 1953 Due A u g u st 2, 1954 D ate------------------------------------------------------------- A p p lication filed through the Federal Reserve B a n k o r Branch o f ________________________________________________ (T o b e filed w ith Fe d e ral R eserve B a n k o r B ra nch o f the D istrict in w hich a p p lic a n t is located .) To Federal Reserve B a n k o f C h ica go Fiscal A g e n t a n d Custodian of C om m odity Credit C orporation Gentlem en: Pursuant to the terms a n d conditions o f the official Announcem ent C H F-2, dated Decem ber 7, 195 3 , o f the C om m odity Credit C orporation the undersigned h e reby applies for $ ---------------------------------face am ount o f the Certificates o f Interest described therein. (se e n ote b e lo w ) N O T E : A p p lic a tio n s m ust b e in m ultip les o f $ 1 , 0 0 0 except tha t n o certificate w ill be issu e d fo r le ss th a n $ 5 , 0 0 0 . Paym ent for total am ount allotted hereon to be m a d e on or before Decem ber 17, 195 3 , a s follow s: ( P a y ment b y Treasury T a x a n d Loan credit not permitted.) □ By C h a rg e to our reserve account at the Federal Reserve B ank o f____________________________________________ □ By Check in imm ediately ava ila b le funds. ( M a in Office O R B ranch w h ere reserve account is ca rried ) 1~1 By C h a rg e to reserve account of_____________________________________________________________________________ ( A p p ro p r ia t e instructions to co rre sp on d e n t n e ce ssa ry ) Repaym ents at o r before maturity a s provided in the official Announcem ent are authorized to be m ade by credit to o ur reserve account (in case o f member b a n k s ) o r by check (in case o f nonm em ber b a n k s). Certificate to be inscribed a n d co p y thereof m ailed to: (Please type o r print.) N a m e o f Bank----------------------------------------------------------------------------------------------------Street Ad dress-----------------------------------------------------------------------------------------------------City o r T ow n-------------------------------------------------------------------------------------------------------Sta te-------------------------------------------------------------------------------------------------------------------- O fficial S ig n a tu re (A .B.A . N o _______________ ) Triplicate— To b e retained b y Purchaser.
@FedFRASER