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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States

• Circular No. 1 7 4 3 l
. March 19, 1937 J

Public notice of offering of two series of Treasury bills to the aggregate amount
of $100,000,000, or thereabouts.
Dated March 24, 1937.
One series of $50,000,000, or thereabouts, of 85-day bills maturing on June 17, 1937, and
the other series of $50,000,000, or thereabouts, of 273-day bills maturing on December 22,1937.
Bidders will be required to specify the particular series for which each tender is made. Any
tender which does not specifically refer to a particular series will be subject to rejection.

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 two series of Treasury bills payable at maturity without interest
to be sold on a discount basis to the highest bidders.
STATEMENT BY ACTING SECRETARY OF THE TREASURY MAGILL

The Secretary of the Treasury gives notice that tenders are invited for two series of
Treasury bills to the aggregate amount of $100,000,000, or thereabouts. One series will be
85-day bills and the other series will be 273-day bills. Both series 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, March 22, 1937.
Tenders will not be received at the Treasury Department, Washington.
The Treasury bills will, as stated, be issued in two series, §50,000,000, or thereabouts,
maturing on June 17, 1937, and $50,000,000, or thereabouts, maturing on December 22, 1937;
both series to be dated March 24, 1937. Bidders will be required to specify the particular series
for which each tender is made. The face amount of the bills of each series will be payable without
interest on their respective maturity dates. The bills 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 March 22, 1937, 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 for each series 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. Any tender which does not
specifically refer to a particular series will be subject to rejection. 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 March 24, 1937.
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, on Monday, March 22, 1937.
It is requested that tenders be submitted on special form for each series and forwarded
in special envelope enclosed herewith. Bids for both series may be enclosed in a single envelope.
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 85-DAY TREASURY BILLS
Dated March 24, 1937.

Maturing June 17, 1937.
Dated at.

_....,

To THE FEDERAL RESERVE BANK OF N E W YORK,
Fiscal Agent of the United States,
New York City, N. Y.

.1937

Pursuant to the provisions of Treasury Department Circular No. 418, as amended, and to
the provisions of the public announcement on March 19, 1937, as issued by the Acting 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 March 24, 1937,

and are to mature on June 17, 1937.
This tender will be inserted in special envelope entitled "Tender for Treasury bills.1'
IMPORTANT INSTRUCTIONS:
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

Received

Carded

Classified

Figured

Checked

TENTB-327-6




Checked

Ledger

Advised

Recorded

Acknowledged

Method of Payment

Window

Disposition

Amount

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.

Date Released

Mail

by

Other Departments

No.

TENDER FOR 273-DAY TREASURY BILLS
Dated March 24, 1937.

Maturing December 22, 1937.
Dated at
.1937

To THE FEDERAL RESERVE BANK OF NEW YORK,

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 March 19, 1937, as issued by the Acting 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 March 24, 1937,

and are to mature on December 22, 1937.
This tender will be inserted in special envelope entitled "Tender for Treasury bills."
IMPORTANT INSTRUCTIONS:
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
• - r i 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

Carded

Allotment

Received

Classified

Figured

Checked

TENTB-328-6




Checked

Ledger

Advised |

Recorded

Acknowledged

Disposition

Method of Payment

Window

Amount

Ci

atody

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

Date Released

Mail

By

Other Departments

(n3)

FEDERAL RESERVE BANK
OF NEW YORK

March 19, 1937.

NEW COUNTERFEITS
To Member Banks in the Second Federal
Reserve District and Others Concerned:
Circular letter No. 690, dated March 18, 1937, of the Treasury Department,
Secret Service Division, describes certain new counterfeits as follows:
SS FEDERAL RESERVE NOTE
On the Federal Reserve Bank of San Francisco, California; 1928B
Series; check letter "F", face plate number indistinct, probably 15,
back plate No. 3?7; portrait of Lincoln; W. 0. "Woods, Treasurer of
the United States; A. W. Mellon, Secretary of the Treasury.
This production is printed on one sheet of paper from photomechanical plates of fair workmanship. The face is lightly printed
and reflects a gray appearance, while the seel, serial numbering
and back are executed in lustreless green.
$10 SILVER CERTIFICATE
Series of 1934; check letter "D"; face plate Ko. 32; back plate
No. 289; 1. A. Julian, Treasurer cf the United States; Henry Morgerithau, Jr.,
Secretary of the Treasury; portrait of Hamilton.
This is a fairly deceptive counterfeit printed on one sheet of paper
from photo-mechanical plates. Treasury seal and serial numbering are
executed in dull blue and the note generally has a faded appearance.
The Treasury Department has requested that any counterfeits which come
to the attention of banks or others be forwarded with all available information to
the office of the United States Secret Service having jurisdiction in their territory.

Offices of the Secret Service are located in Syracuse, 3uffalo and New York

City, New York, and in Newark, New Jersey.




George L. Harrison,
President•

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