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FEDERAL RESERVE
OF NEW

BANK

YORK

Fiscal Agent of the United States
r Circular N o . 3 0 0 1
L S e p t e m b e r 24, 1945 J

OFFERING OF
%

Percent Treasury Certificates o f Indebtedness o f Series H - 1 9 4 6

Dated and bearing interest from October 1, 1945

Due October 1, 1946

• IN EXCHANGE FOR
%

Percent Treasury Certificates of Indebtedness o f Series G - 1 9 4 5 , Maturing October 1, 1945

To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve
District:

T h e f o l l o w i n g p r e s s statement w a s t o d a y made p u b l i c :
Secretary of the Treasury Vinson today announced the offering, through the Federal Reserve Banks,
of % percent Treasury Certificates of Indebtedness of Series H-1946, open on an exchange basis, par
for par, to holders of Treasury Certificates of Indebtedness of Series G-1945, maturing October 1,1945.
Cash subscriptions will not be received.
The certificates now offered will be dated October 1,1945, and will bear interest from that date at the
rate of seven-eighths of one percent per annum, payable semiannually on April 1 and October 1, 1946.
They will mature October 1, 1946. 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 Act of 1941, interest upon the certificates now offered
shall not have any exemption, as such, under Federal tax Acts now or hereafter enacted. The full 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 at the close of business Wednesday, September 26, except for the
receipt of subscriptions from holders of $100,000 or less of the maturing certificates. The subscription
books will close for the receipt of subscriptions of the latter class at the close of business Saturday,
September 29.
Subcriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department, and
placed in the mail before midnight of the respective closing days will be considered as having been
entered before the close of the subscription books.
There are now outstanding $3,491,572,000 of the Series G-1945 certificates.
T h e terms o f this o f f e r i n g a r e set f o r t h in T r e a s u r y D e p a r t m e n t C i r c u l a r N o . 775, d a t e d
S e p t e m b e r 2 4 , 1 9 4 5 , c o p y o f w h i c h is p r i n t e d on the r e v e r s e side.
T h e s u b s c r i p t i o n b o o k s a r e n o w o p e n a n d a p p l i c a t i o n s w i l l be r e c e i v e d b y this b a n k as
fiscal agent o f the U n i t e d States.

Cash subscriptions

will not be received.

E x c h a n g e subscrip-

tions should be m a d e on official s u b s c r i p t i o n blanks and m a i l e d i m m e d i a t e l y or, if filed b y
t e l e g r a m o r letter, should be c o n f i r m e d i m m e d i a t e l y b y m a i l o n the blanks p r o v i d e d .




ALLAN-

SPROUL,

President.

(OVER)

UNITED STATES OF AMERICA
1/s PERCENT T R E A S U R Y CERTIFICATES OF INDEBTEDNESS OF SERIES H-1946
Dated and bearing interest from October 1, 1945
Department 8 £ L r

Due October 1, 1946
T R E A S U R Y DEPARTMENT,

No. 775

OFFICE OF THE SECRETARY,

Bureaifof0 tfaf p^bifc Debt

Washington,
I.

OFFERING OF

September

24,

1945.

CERTIFICATES

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as
amended, invites subscriptions, at par, from the people of the United States for certificates of indebtedness
of the United States, designated % percent Treasury Certificates of Indebtedness of Series H-1946, in
exchange for Treasury Certificates of Indebtedness of Series G-1945, maturing October 1, 1945.
II.

DESCRIPTION

OF

CERTIFICATES

1. The certificates will be dated October 1, 1945, and will bear interest from that date at the rate of
% percent per annum, payable semiannually on April 1 and October 1, 1946. They will mature October 1,
1946, and will not be subject to call for redemption prior to maturity.
2. The income derived from the certificates shall be subject to all Federal taxes, now or hereafter
imposed. 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.
in payment of taxes.

They will not be acceptable

4. Bearer certificates with interest coupons attached 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 hereafter prescribed, governing United States certificates.
III.

SUBSCRIPTION

AND

ALLOTMENT

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 customers, 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
reservations, all subscriptions will be allotted in full. Allotment notices will be sent out promptly upon
allotment.
IV.

PAYMENT

1. Payment at par for certificates allotted hereunder must be made'on or before October 1, 1945, or on
later allotment, and may be made only in Treasury Certificates of Indebtedness of Series G-1945, maturing
October 1, 1945, which will be accepted at par, and should accompany the subscription.
V.

GENERAL

PROVISIONS

1. As 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.




FRED M. VINSON,
Secretary of the Treasury.

Subscriber's Reference No.

Application Number

EA-CS

U n i t e d S t a t e s of A m e r i c a % p e r c e n t T r e a s u r y Certificates of I n d e b t e d n e s s of Series
G - 1 9 4 5 m a t u r i n g O c t o b e r 1, 1 9 4 5 m u s t b e t e n d e r e d in p a y m e n t f o r this subscription.

EXCHANGE SUBSCRIPTION
F O R UNITED STATES OF AMERICA %

PERCENT

TREASURY

CERTIFICATES

OF

INDEBTEDNESS

O F S E R I E S H - 1 9 4 6 , D A T E D O C T O B E R 1 , 1 9 4 5 , D U E O C T O B E R 1, 1 9 4 6

Important
1. S u b j e c t t o the r e s e r v a t i o n s in T r e a s u r y D e p a r t m e n t C i r c u l a r N o . 7 7 5 , d a t e d S e p t e m b e r 2 4 , 1 9 4 5 , all subscriptions will b e
a l l o t t e d in f u l l .
2 . C o u p o n s maturing O c t o b e r 1, 1 9 4 5 , should b e d e t a c h e d f r o m the certificates o f Series G - 1 9 4 5 w h i c h are t e n d e r e d
p a y m e n t a n d c o l l e c t e d in the usual m a n n e r .

in

FEDERAL RESERVE B A N K OP N E W Y O R K ,

Fiscal Agent of the United States,
Government Bond Department—2nd F l o o r :

Dated at.
.1945

DEAR

SIRS:

Subject to the provisions of Treasury Department Circular No. 775, dated September 24, 1945, the undersigned hereby
subscribes f o r United States of America % percent Treasury Certificates of Indebtedness of Series H-1946 as stated below:
F o r own account

$

For our customers ( f o r 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 % percent Treasury Certificates of
Indebtedness of Series G-1945, maturing October 1, 1945, as follows:
„
To be delivered to you
T o b e . withdrawn f r o m
for om, account b y
Delivered to
securities held by you
you herewith $
for our account
$
$
Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below:
DENOMINATIONS

Par Value

Pieces

$

•

1,000

1. Deliver over the counter to the undersigned

•

Leave Blank

2. Ship to the undersigned

•

3. Hold in safekeeping ( f o r member bank only)

5,000

•

4. Hold as collateral f o r W a r Loan deposits

10,000

•

5. Special instructions:

100,000
1,000,000
Total
I M P O R T A N 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.
T h e u n d e r s i g n e d , if a b a n k or trust c o m p a n y , h e r e b y certifies that the securities w h i c h y o u a r e h e r e b y or h e r e a f t e r instructed
t o d i s p o s e o f in the m a n n e r i n d i c a t e d in items n u m b e r e d 3 a n d 4 a b o v e a r e the sole p r o p e r t y o f the u n d e r s i g n e d .
(Fill in all required spaces before signing)
Application submitted b y .
TO

(Please print)

SUBSCRIBES:

Please indicate if this is a confirmation.

YES.
NO...

By

(Official signature required)

(Title)

Street address
City, Town or Village, P . O. No., and State.
S p a c e s b e l o w a r e f o r the use o f the F e d e r a l R e s e r v e Bank o f N e w Y o r k
Delivery Receipt

Released
Taken f r o m VaultrCounted
Checked
Delivered




Securities
received b y -

Received f r o m FEDERAL RESERVE BANK OF NEW YORK the above described
United States Government obligations in the amount indicated above.
Subscriber.

Checked b y -

Date.

By.

List of customers whose applications are included in the foregoing subscription

Amount

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