View PDF

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
[Circular No. 1 6 9 0 ]
Uugust 14, 1936-1

Public Notice of Offering of $50,000,000, or thereabouts, of Treasury Bills
Dated August 19, 1936
Maturing May 19, 1937

To all Incorporated Banks and Trust Companies in the
Second Federal Reserve District and Others Concerned:

Following is the text of a notice today made public by the Treasury Department with respect to a new
offering of Treasury bills payable at maturity without interest to be sold on a discount basis to the highest
bidders.
STATEMENT BY SECRETARY MORGENTHAU

The Secretary of the Treasury gives notice that tenders are invited for Treasury bills to the amount of $50,000,000,
or thereabouts. They will be 273-day bills; and will be sold on a discount basis to the highest bidders. Tenders will be
received at the Federal Reserve Banks, or the branches thereof, up to two o'clock p.m., Eastern Standard time, on
Monday, August 17, 1936. Tenders will not be received at the Treasury Department, Washington.
The Treasury bills will be dated August 19, 1936, and will mature on May 19, 1937, and on the maturity
date the face amount will be payable without interest. They will be issued in bearer form only, and in amounts or
denominations of $1,000, $10,000, $100,000, $500,000, and $1,000,000 (maturity value).
It is urged that tenders be made on the printed forms and forwarded in the special envelopes which will be supplied
by the Federal Reserve Banks or branches upon application therefor.
No tender for an amount less than $1,000 will be considered. Each tender must be in multiples of $1,000. The
price offered must be expressed on the basis of 100, with not more than three decimal places, e. g., 99.125. Fractions
must not be used.
Tenders will be accepted without cash deposit from incorporated banks and trust companies and from responsible
and recognized dealers in investment securities. Tenders from others must be accompanied by a deposit of 10 per cent
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.
Immediately after the closing hour for receipt of tenders on August 17, 1936, all tenders received at the
Federal Reserve Banks or branches thereof up to the closing hour will be opened and public announcement of the
acceptable prices will follow as soon as possible thereafter, probably on the following morning. The Secretary of the
Treasury expressly reserves the right to reject any or all tenders or parts of tenders, and to allot less than the amount
applied for, and his action in any such respect shall be final. Those submitting tenders will be advised of the acceptance
or rejection thereof. Payment at the price offered for Treasury bills allotted must be made at the Federal Reserve Banks
in cash or other immediately available funds on August 19, 1936.
The Treasury bills will be exempt, as to principal and interest, and any gain from the sale or other disposition
thereof will also be exempt, from all taxation, except estate and inheritance taxes. (Attention is invited to Treasury
Decision 4550, ruling that Treasury bills are not exempt from the gift tax.) No loss from the sale or other disposition
of the Treasury bills shall be allowed as a deduction, or otherwise recognized, for the purposes of any tax now or
hereafter imposed by the United States or any of its possessions.
Treasury Department Circular No. 418, as amended, and this notice prescribe the terms of the Treasury bills
and govern the conditions of their issue. Copies of the circular may be obtained from any Federal Reserve Bank or
branch thereof.
In accordance with the above announcement tenders will be received at the Securities Department of
this bank (2nd floor, 33 Liberty Street, New York City) or at the Buffalo Branch of this bank (272 Main
Street, Buffalo, New York) until two o'clock p.m., Eastern Standard time (three o'clock p.m., "Daylight
Saving time"), on Monday, August 17, 1936.
It is requested that tenders be submitted on special form and in special envelope enclosed herewith.

s

Attention is invited to the fact that payment for the Treasury bills cannot be made by credit through the
War Loan Deposit Account. Payment must be made in cash or other immediately available funds.




GEORGE L. HARRISON,

President.

No
TENDER FOR 273-DAY TREASURY BILLS
Dated August 19, 1936. Maturing May 19, 1937.
Dated at

„

To THE FEDERAL RESERVE BANK OF NEW YORK,

„
_

1936

Fiscal Agent of the United States,

New York City, N. Y.

Pursuant to the provisions of Treasury Department Circular No. 418, as amended, and to
the provisions of the public announcement on August 14, 1936, as issued by the Secretary of the
Treasury, the undersigned offers to pay

* for a total amount
(Rate per 100)

of $

(maturity value) of the Treasury bills therein described, or for any less

amount that may be allotted, payment therefor to be made at your bank in cash or other
immediately available funds on the date stated in the public announcement.
The Treasury bills for which tender is hereby made are to be dated August 19, 1936,
and are to mature on May 19, 1937.
This tender will be inserted in special envelope entitled "Tender for Treasury bills."

IMPORTANT INSTRUCTIONS i
1. No tender for less than $1,000 will be considered, and each tender must be for an amount in multiples
of $1,000 (maturity value). Also, if more than one price is offered, a separate form must be executed at each
price.
2. If the person making the tender is a corporation, the form should be signed by an officer of the corporation authorized to make the tender, and the signing of the form by an officer of 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."
3. Tenders will be accepted without cash deposit from incorporated banks and trust companies and from
responsible and recognized dealers in investment securities. Tenders from others must be accompanied by a
deposit of 10 per cent 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.
4. If the language of this form is changed in any respect, which, in the opinion of the Secretary of the
Treasury, is material, the tender may be disregarded.

Payment by credit through War Loan Deposit Account will not be permitted.
Before signing fill in all required spaces.
Bank or Trust Company
Post Office Address.
State
Official signature required.
SPACES BELOW ARE FOR THE USE OF THE FEDERAL RESERVE BANK
Examined

A llotment

Classified

Carded

figured

Checked

Ledger

Advised

Acknowledged

Disposition

Method of Payment

Amount

Date Released

i By

1
Received

Checked

TEXTB-287-O




Recorded

Window

Custody

* Price should be expressed on the basis of 100, with not more than
three decimal places, e. g., 99.125. Fractions must not be used.

Mail

Other Departments

FEDERAL RESERVE BANK
OF NEW YORK

August 15, 1936.

Reports to Head Office of Federal Reserve Bank of New York
of Cash Letters Sent Direct to the Buffalo Branch

To Member and Nonmember Clearing Banks in the Second Federal Reserve District
(except Banks in the Territory assigned to the Buffalo Branch):

The second paragraph of our circular No. 1610, dated November 20, 1935, containing our
New York Head Office Time Schedule, reads as follows:
" A s heretofore, cash items sent to us by member and nonmember clearing banks in the
territory assigned to our head office at New York City should be sent to such head office,
except that such banks may at their option send cash items payable in the territory assigned
to our Buffalo branch either to our head office at New York City or to our Buffalo branch.''

You are requested, beginning August 15, 1936, when sending directly to our Buffalo
branch cash items payable in the City of Buffalo pursuant to the permission granted in the
paragraph quoted above, to report the cash letters of such items on the same day by mail or
by messenger to our head office at New York City on the "one day points" reports (Form BK.
78A.2 and Form BK.78B.2) which may be used for that purpose. In such cases it will be necessary for the present to insert the words "Buffalo City-2" under "Boston City" (or in any
appropriate place on the form if the space under "Boston City" will not permit) with the
total amount of each cash letter reported separately. If you do not have the forms on hand a
supply will be sent on application therefor. Our purpose in requesting these reports is to
eliminate the present daily exchange of certain telegrams between our head office at New York
City and our Buffalo branch.
The foregoing request relates only to cash items payable in the City of Buffalo which
are sent directly to our Buffalo branch, and, accordingly, cash items payable in the territory
assigned to our Buffalo branch outside the City of Buffalo should not be reported on the forms
mentioned above.




GEORGE L. HARRISON,

President.

BK. 78A.2 6M 5-35

This Sheet To Be Used Only On Saturday And Day Before A Holiday
ONE DAY POINTS
DATE

SENT.

REPORT TO FEDERAL RESERVE BANK OF NEW YORK

OF CASH LETTERS SENT DIRECT
ADDRESS

BANK
TOTAI
SENT TO

ATLANTA, City

TO PF rtREDITED OUR ACCOUNT r>N

Diit.
No.

6

AMOUNT
(LIST EACH LETTER SEPARATELY)

SENT TO

OMAHA, City

AMOUNT
(LIST EACH LETTER SEPARATELY)

DUt.
No.

10

BRANCH OF KANSAS CITY

6

MINNEAPOLIS, City
(Inc. St. Paul)

9

6

PHILADELPHIA, Gty

3

6

RICHMOND, Gty

5

1

BALTIMORE, Gty

5

CHICAGO, Gty

7

CHARLOTTE, Gty

DETROIT, Gty

7

ST. LOUIS, Gty

8

4

LOUISVILLE, Gty

8

BIRMINGHAM, City

BRANCH OF ATLANTA

JACKSONVILLE, City

BRANCH OF ATLANTA

NASHVILLE,'Gty

BRANCH OF ATLANTA

BOSTON, Gty

BRANCH OF RICHMOND

5

BRANCH OF RICHMOND

BRANCH OF CHICAGO

CLEVELAND, Gty

BRANCH O F ST. LOUIS

CINCINNATI, Gty

4

BRANCH OF CLEVELAND

PITTSBURGH, City

MEMPHIS, Gty

8

BRANCH OF ST. LOUIS

4

BRANCH OF CLEVELAND

TOTAL FORWARD



GRAND TOTAL—1 DAY ITEMS

I

IK 78 B.2 20 M 8-36

ONE DAY POINTS

DATE SENT.

REPORT TO FEDERAL RESERVE BANK OF NEW YORK
OF CASH LETTERS SENT DIRECT BY

ADDRESS.

BANK.

TOTAL TO BE CREDITED OUR ACCOUNT ON.
SENT TO

Dist

No.

AMOUNT
(LIST EACH LETTER SEPARATELY)

SENT TO
TOTAL BROUGHT FORWARD

BOSTON, City
PITTSBURGH, City

PHILADELPHIA, City

RICHMOND, City

CLEVELAND, City

BALTIMORE, City

TOTAL FORWARD



GRAND TOTAL—1 DAY ITEMS

Disl.

No.

AMOUNT
(LIST EACH LETTER SEPARATELY)

FEDERAL RESERVE BANK
OF NEW YORK

August 15, 1936.

Reports to Buffalo Branch of Federal Reserve Bank of New York
of Cash Letters Sent Direct to the Head Office at New York City
To Member and Nonmember Clearing Banks in the
Territory assigned to the Buffalo Branch:

The second paragraph of our circular No. 1499, dated January 16, 1935, containing our
Buffalo Branch Time Schedule, reads as follows:
"As heretofore, cash items sent to us by member and nonmember clearing banks in the
territory assigned to our Buffalo branch should be sent to our Buffalo branch, except that such
banks may at their option send cash items payable in the territory assigned to our head office
at New York City either to such head office or to our Buffalo branch."

You are requested, beginning August 15,1936, when sending directly to our head office
at New York City cash items payable at
1. New York Clearing House Association banks
2. Other New York City and Brooklyn Banks and
3. Northern New Jersey Clearing House Association banks
pursuant to the permission granted in the paragraph quoted above, to report the cash letters
of such items on the same day by mail or by messenger to our Buffalo branch on the "one day
points" report (Form BTR.106-A) which may be used for that purpose. In such cases it will
be necessary for the present to insert the words "New York City-2" under "Philadelphia
City" (or in any appropriate place on the form if the space under "Philadelphia City" will
not permit) with the total amount of each cash letter reported separately. If you do not have
copies of the form on hand a supply will be sent you by our Buffalo branch on application therefor. Our purpose in requesting this report is to eliminate the present daily exchange of certain
telegrams between our head office at New York City and our Buffalo branch.
The foregoing request relates only to cash items payable at the banks in the three groups
mentioned in the preceding paragraph (lists of which will be furnished upon request) which
are sent directly to our head office at New York City, and, accordingly, cash items payable
elsewhere in the territory assigned to our head office at New York City should not be reported
on the form mentioned above.




GEORGE L. HARRISON,

President.

TR. 106-A

mwoo

ONE DAY POINTS

DATE SENT

BUFFALO BRANCH

REPORT TO

FEDERAL RESERVE BANK OF NEW YORK
OF CASH LETTERS SENT DIRECT BY
BANK..

_

_

ADDRESS

_...._

ONE CALENDAR DAY
SENT TO

'HILADELPHIA, City

DIST.
NO.

AMOUNT
(LIST EACH LETTER SEPARATELY)

ONE CALENDAR DAY
SENT TO

TOTAL DROUGHT FORWARD

CHICAGO, City

XEVELAND, City

DETROIT, City

'ITTSBURGH, City

BRANCH OF CLEVELAND

TOTAL FORWARD




BRANCH OF CHICAGO
TOTAL ONE CALENDAR
DAY ITEMS

DIST.
NO.

AMOUNT

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