The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 5 3 1 1 ~1 U M arch 7, 1963 J Offering of $ 1 ,5 0 0 ,0 0 0 ,0 0 0 of 94-Day Tax Anticipation Treasury Bills Additional Amount, Series Dated February 6, 1963, Maturing June 24, 1963 (To Be Issued March 22, 1963) l'o All Incorporated Banks and Trust Companies, and Others Concerned, in the Second l ;cderal Reserve District: Following is the text of a notice issued by the Treasury Department, released for publication today: The Treasury Department, by this public notice, invites tenders for $1,500,000,000, or thereabouts, of 94-day Treasury bills (to maturity date), to be issued March 22, 1903, 0 11 a discount basis under competitive and noncompetitive bidding as hereinafter provided. The bills of this series will be desig nated T ax Anticipation Series and represent an additional amount o f bills dated February 6, 1963, to mature June 24, 1963, originally issued in the amount o f $1,000,684,000. The additional and original bills will be freely interchangeable. They will be accepted at face value in payment of incom e and profits taxes due on June 15, 1963, and to the extent they are not presented for this purpose the face amount of these bills will be payable without interest at maturity. Taxpayers desir ing to apply these bills in payment o f June 15, 1963, income and profits taxes have the privilege of surrendering them to any Federal Reserve Bank or Branch or to the Office of the Treasurer of the United States, W ashington, not more than fifteen days before June 15, 1963, and receiving receipts therefor showing the face amount o f the bills so surrendered. These receipts may be submitted in lieu of the bills on or before June 15, 1963, to the D istrict D irector o f Internal Revenue for the District in which such taxes are payable. The bills will be issued in bearer form only, and in denominations of $1,000, $5,000, $10,000, $50,000, $100,000, $500,000 and $1,000,000 (maturity value.) Tenders will be received at Federal Reserve Banks and Branches up to the closing hour, one-thirty o’ clock p.m., Eastern Standard time, Thursday, March 14, 1963. Tenders will not be received at the Treasury Department, W ashington. Each tender must be for an even multiple of $1,000, and in the case of competitive tenders the price offered must be expressed on the basis of 100, with not more than three decimals, e.g., 99.925. Fractions may not be used. It is urged that tenders be made on the printed form s and forwarded in the special envelopes which will be supplied by Federal Reserve Banks or Branches on application therefor. Banking institutions generally may submit tenders for account o f customers provided the names of the customers are set forth in such tenders. Others than banking institutions will not be permitted to submit tenders except for their own account. Tenders will be received without deposit from incor porated banks and trust companies and from responsible and recognized dealers in investment securities. Tenders from others must be accompanied by payment o f 2 percent of the face amount of Treasury bills applied for, unless the tenders are accompanied by an express guaranty of payment by an incorporated bank or trust company. All bidders are required to agree not to purchase or to sell, or to make any agreements with respect to the purchase or sale or other disposition of any bills of this additional issue, until after one-thirty p.m., Eastern Standard time, Thursday, March 14, 1963. Immediately after the closing hour, tenders will be opened at the Federal Reserve Banks and Branches, follow in g which public announcement w ill be made by the Treasury Department of the amount and price range o f accepted bids. Those sub mitting tenders will be advised of the acceptance or rejection thereof. The Secretary of the Treasury expressly reserves the right to accept or reject any or all tenders, in whole or in part, and his action in any such respect shall be final. Subject to these reservations, noncompetitive tenders for $200,000 or less without stated price from any one bidder will be accepted in full at the average price (in three decimals) o f accepted com petitive bids. Payment of accepted tenders at the prices offered must be made or com pleted at the Federal Reserve Bank in cash or other immediately available funds on M arch 22, 1963. The incom e derived from Treasury bills, whether interest or gain from the sale or other disposition o f the bills, does not have any exemption, as such, and loss from the sale or other disposition of Treasury bills does not have any special treat ment, as such, under the Internal Revenue Code of 1954. The bills are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are exempt from all taxa tion now or hereafter imposed 011 the principal or interest thereof by any State, or any of the possessions o f the United States, or by any local taxing authority. For purposes of taxation the amount of discount at which Treasury bills are originally sold by the United States is considered to be interest. Under Sections 454(b) and 1221(5) o f the Internal Revenue Code of 1954 the amount o f discount at which bills issued hereunder are sold is not considered to accrue until such bills are sold, redeemed or otherwise disposed of, and such bills are excluded from consideration as capital assets. A ccordingly, the owner o f Treasury bills (other than life insurance com panies) issued hereunder need include in his incom e tax return only the difference between the price paid for such bills, whether on original issue or on subsequent purchase, and the amount actually received either upon sale or redemption at maturity during the taxable year for which the return is made, as ordinary gain or loss. Treasury Department Circular No. 418 (current revision) and this notice, prescribe the terms o f the Treasury bills and govern the conditions of their issue. Copies of the circular may be obtained from any Federal Reserve Bank or Branch. This Bank will receive tenders up to 1 :30 p.m., Eastern Standard time, Thursday, March 14, 1963, at the Securities Department of its Head Office and at its Buffalo Branch. Please use the form on the reverse side of this circular to submit a tender, and return it in the enclosed blue envelope marked “ Tender for Treasury Bills— T ax Anticipation Series.” Tenders may be submitted by telegraph, subject to written confirmation; they may not be sub mitted by telephone. Payment for the Treasury bills cannot be made by credit through the Treasury Tax and Loan Account. Settlement must be made in cash or other immediately available funds on March 22, 1963. A lfred H ayes, President. I M P O R T A N T — Paym ent by credit through Treasury T a x and Loan A cco u n t w ill not be perm itted. (OVER,) No.................................... TENDER FOR 94-DAY TREASURY BILLS TO BE DE SIG N A TE D “ T A X A N T IC IP A T IO N SERIES” Additional Amount, Series Dated February 6, 1963, Maturing June 24, 1963 (To Be Issued March 22, 1963) To F ed er al R eserve B a n k of N ew Y ork, Dated at IMPORTANT— Payment may not be made by credit to Treasury Tax and Loan Account. Fiscal Agent of the United States. ........................................................ .............................................................. , 1963 Pursuant to the provisions of Treasury Department Circular No. 418 (current revision) and to the provi sions of the public notice issued by the Treasury Department and printed on the reverse side of this tender, the undersigned hereby offers to purchase the above described Treasury bills in the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date at the price indicated below : C O M PE TITIV E TEN DER Do not fill in both Competitive and Noncompetitive tenders on one form [! $ .......................................................... (maturity value), or any lesser amount that may be awarded. P rice : .....................................per 100. (Price must be expressed zvith not more than three decimal places, for example, 99.925) 1 N O N CO M PETITIVE TENDER $ .......................................................... (maturity value). (N ot to exceed $200,000 for one bidder through all sources) At the average price of accepted competitive bids. Subject to allotment, please issue, deliver, and accept payment for the bills as indicated below : Pieces Denomination $ Maturity value 1,000 □ 5,000 □ □ 10,000 □ 50,000 □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. Hold in safekeeping (for ac count of member bank only)* 4. Allotment transfer (see list attached) 5. Special instructions: Payment will be made as follow s: □ By charge to our reserve account □ By cash or check in immediately available funds 100,000 500,000 1,000,000 (Payment cannot be made through Treasury Tax and Loan Account) (■**To changes in delivery instructions will be accepted) Total * If this item is checked, the undersigned certifies that the allotted bills will be owned solely by the undersigned. W e hereby agree not to buy or to sell, or to make any agreements with respect to the purchase or sale or other disposition of any bills of this additional issue, until after one-thirty o’clock p.m., Eastern Standard time, Thursday, March , . 14 1963 Name of subscriber Insert this tender in blue envelope marked “ Tender for Treasury Bills— Tax Anticipation Series'’ — (Please print) B y ................................................. Title ......................................... By (Official signature(s) required) ..................... Title .......... Address ................................................................................................................. (Banks submitting tenders for customer account must indicate name on line below, or attach a list) (N am e of custom er) IN STR U C TIO N S: 1. No tender for less than $1,000 will be considered, and each tender must be for an even multiple o f $1,000 (maturity value). 2. Others than banking institutions will not be permitted to submit tenders except for their own account. Banks submitting tenders for customer account may consolidate competitive tenders at the same price and may consolidate noncompetitive tenders, provided a list is attached showing the name of each bidder, the amount bid for his account, and method o f payment. Forms for this purpose will be furnished on request. 3. If the person making the tender is a corporation, the tender should be signed by an officer of the corporation authorized to make the tender, and the signing of the tender by an officer o f the corporation will be construed as a representation by him that he has been so authorized. If the tender is made by a partnership, it should be signed by a member of the firm, who should sign in the form “ .................................................................................................... . a copartnership, by .......................................................................... a member of the firm.” 4. Tenders will be received without deposit from incorporated banks and trust companies and from responsible and recognized dealers in investment securities. Tenders from others must be accompanied by payment of 2 percent of the face amount of Treasury bills applied for, unless the tenders are accompanied by an express guaranty of payment by an incor porated bank or trust company. 5. If the language of this tender is changed in any respect, which, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded. Federal Reserve Bank of New Y ork Securities Department ( 9th Floor) 33 Liberty Street TENDER FOR TREASURY BILLS T A X A N T IC IP A T IO N SERIES (D O N O T U S E T H I S E N V E L O P E F O R O T H E R P U R P O S E S ) New York 45, N. Y F ederal R eserve B a n k of N e w Y 1 ork NOTICE OF ALLO TM E N T OF U N ITED STATES OF A M E R IC A T R E A SU R Y BILLS T A X A N T IC IP A T IO N SERIES March 15, 1963. Y ou r □ competitive □ noncompetitive tender fo r —• U N IT E D S T A T E S O F A M E R IC A 9 4 -D A Y T R E A S U R Y B ILLS— T A X A N T I C IP A T IO N S E R IE S A D D I T IO N A L A M O U N T , S E R IE S D A T E D F E B R U A R Y 6, 1 9 6 3 , D U E JUNE 2 4 , 1 9 6 3 ( T O BE IS S U E D M A R C H 2 2 , 1 9 6 3 ) has been accepted at the price o f (per 100), in the amount o f— $ (m aturity value) Settlement therefor must be made in cash or other immediately available funds at the Federal Reserve Bank o f New Y ork on or before March 22, 1963. I f settlement is to made by check on a bank other than the Federal Reserve Bank o f New York, such check should be received by us in time fo r collection on M arch 22, 1963; otherwise it will be necessary for the bidder to pay fo r the securities allotted at the accepted price plus interest to the date o f collec tion at the equivalent rate of discount. D elivery o f the Treasury bills will be made in accordance with instructions submitted with your tender, and your reserve account will be charged on March 22, 1963 if you so indicated. I f you did not submit such instructions, a Letter o f Instructions form is enclosed; please complete the letter in duplicate and return it prom ptly to this Bank. F ederal R eserve B a n k of N e w Y ork Fiscal A gent o f the United States Checked by (This letter of instructions, accompanied by attached duplicate copy, should be filled in and returned to Federal Reserve Bank o f New Y o rk ) LETTER OF INSTRUCTIONS T o F ederal R eserve B a n k of New Y ork , Fiscal A gent of the United States, Federal Reserve P. 0 . Station, New Y ork 45, N. Y . A ttention: Government B ond Division— 2nd F loor Dated a t ....................................................... ....................................................................1963 On our □ competitive □ noncompetitive tender fo r— U N IT E D S T A T E S O F A M E R IC A 9 4 -D A Y T R E A S U R Y B ILL S— T A X A N T IC IP A T IO N SE R IE S A D D I T IO N A L A M O U N T , SE R IE S D A T E D F E B R U A R Y 6, 1 9 6 3 , D U E JUNE 2 4 , 1 9 6 3 ( T O BE IS S U E D M A R C H 2 2 , 1 9 6 3 ) (per 100), in the amount of- accepted at the price of $ (m aturity value) Please issue and make delivery of the bills as instructed b elow : Pieces Denomination $ |j Maturity Value P lease Do N ot U se T h is S pace 1,000 5,000 10,000 50,000 100,000 500,000 1,000,000 T o ta l— □ □ □ □ □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. H old in safekeeping (fo r account o f member bank o n ly )* 4. Allotm ent transfer (see list attached) 5. Special instructions: (N o changes in delivery instructions will be accepted) Payment w ill be made as follow s: □ □ B y charge to our reserve account B y cash or other immediately available funds (P aym ent cannot be made through Treasury Tax and Loan A ccou n t) I f this item is ch e c k e d , the u n d e rsig n e d certifies that the a llo tte d b ills are o w n e d so le ly b y the u n d ersig n ed . This letter of instructions must be signed officially in the space p ro vid ed and Submitted by (Please print) ........ By ............................ Bv returned im m ediately to (Authorized signature(s) required) Federal Reserve Bank of New York, Title ....................................................................... Title ........... Fiscal Agent o f the United States. Address ................................................................................................. (S p a c e s b e lo w a re f o r the u se o f the F e d e ra l R e s e rv e Bank o f N ew Y o r k ) Government Bond Division Safekeeping Division Cheeked . Deliver against payment of $ ............................................ ........................................................................ D ELIVE RY RECEIPT Received from Federal Reserve Bank of New York, Fiscal Agent o f the United States, the above described securities illnttprl ir, indicated above. ‘ n the amount XL (D U P L IC A T E F O R USE OF F E D E R A L R E S E R V E B A N K OF N E W Y O R K ) LE T TE R OF INSTRUCTIONS To F e d e r a l R e se r v e B a n k op N e w Y o r k , Fiscal A gent of the United States, Federal Reserve P. 0 . Station, New Y ork 45, N. Y. A tten tion : Government Bond Division— 2nd Floor Dated a t ............. .1963 On our □ competitive □ noncompetitive tender fo r— U N IT E D ST A T E S O F A M E R IC A 9 4 -D A Y T R E A S U R Y BILLS— T A X A N T IC IP A T IO N SERIE S A D D IT IO N A L A M O U N T , SE R IE S D A T E D F E B R U A R Y 6, 1 9 6 3 , D U E JUNE 24, 1963 ( T O BE ISSU E D M A R C H 22, 1 9 6 3 ) accepted at the price o f (per 100), in the amount of— $ (m aturity value) Please issue and make delivery o f the bills as instructed b elow : Denomination Pieces $ Maturity Value P lease Do N ot U s e T h i s S p ace 1,000 5,000 10,000 50,000 100,000 500,000 1,000,000 Total— □ □ □ □ □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. H old in safekeeping (fo r account o f member bank on ly )* 4. Allotment transfer (see list attached) 5. Special instructions: (N o changes in delivery instructions will be accepted) Payment will be made as follow s: □ □ B y charge to our reserve account B y cash or other immediately available funds (Paym ent cannot be made through Treasury Tax and Loan A ccoun t) & I f this item is ch e c k e d , the u n d e r sig n e d certifies that the a llo tte d bills are o w n e d so le ly by the u n d ersig n ed . This letter of instructions must be signed officially in the space pro vid ed Submitted by ............................................................ .............. ............ and returned im m ediately to J ...................................................... W (A uthorized Federal Reserve Bank of New York, ' '■' V V Y signature(s) required) Title ........................................................................... Title ............... Fiscal Agent o f the United States. Address .................................................................................................. (S p a c e s b e lo w are f o r the u se o f the F ed era l R e s e rv e Bank o f N ew Y o r k ) Government Bond Division Safekeeping Divisiou Payment received ........................................................................................................................................... Checked ........................... D ELIVE RY RECEIPT Received from Federal Reserve Bank of New York, Fiscal Agent o f the United States, the above described securities allotted in the amount indicated above. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PENDING D E L IV E R Y T IC K E T FO R G O V E R N M E N T BOND DIVISION Y ou r □ com petitive □ 4 noncompetitive tender fo r— U N IT E D S T A T E S O F A M E R IC A 9 4 -D A Y T R E A S U R Y BILLS— T A X A N T I C I P A T I O N SE R IE S A D D I T I O N A L A M O U N T , S E R IE S D A T E D F E B R U A R Y 6, 1 9 6 3 , D U E JU N E 2 4 , 1 9 6 3 ( T O BE IS S U E D M A R C H 2 2 , 1 9 6 3 ) which has been accepted at the price of (per 100), in the amount o f— P R IN C IP A L M A S T E R M A T U R IT Y VALUE P R IN C IP A L DISPOSITION □ Over the Counter □ Safekeeping □ Ship □ □ S P L IT D IS P O S IT IO N M ETHOD OF PAYM ENT □ Reserve Account □ Check or Cash □ Delivery Teller Treasury Tax & Loan □ Foreign Oper. Div. Allotm ent Transfer □ Form 12 ALLOTMENT NOTICE FOR SECURITIES DEPARTMENT □ competitive □ noncompetitive U N IT E D S T A T E S O F A M E R IC A 9 4 -D A Y T R E A S U R Y BILLS— T A X A N T IC IP A T IO N SE R IE S A D D I T I O N A L A M O U N T , S E R IE S D A T E D F E B R U A R Y 6, 1 9 6 3 , D U E JUNE 2 4 , 1 9 6 3 ( T O BE IS S U E D M A R C H 2 2 , 1 9 6 3 ) ALLOTMENT NOTICE FOR SECURITY FILES □ competitive □ noncompetitive U N IT E D S T A T E S O F A M E R IC A 9 4 -D A Y T R E A S U R Y B ILLS— T A X A N T IC I P A T IO N SE R IE S A D D I T I O N A L A M O U N T , S E R IE S D A T E D F E B R U A R Y 6, 1 9 6 3 , D U E JUNE 2 4 , 1 9 6 3 ( T O BE IS S U E D M A R C H 2 2 , 1 9 6 3 ) $
@FedFRASER