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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 2002 November 28, 1939 Offering of United States of America 2 Percent Treasury Bonds of 1948-50 Dated and bearing interest from December 8, 1939 To all Banking Institutions and Others Concerned in the Second Federal Reserve District: Secretary of the Treasury Morgenthau today announced an offering, at par and accrued interest, of 2 percent bonds of the United States, designated Treasury Bonds of 1948-50. The amount of the public offering is $500,000,000, or thereabouts. In addition to the amount offered for public subscription $50,000,000, or thereabouts, of these bonds will be allotted to Government investment accounts. The bonds will be dated and bear interest from December 8, 1939, will bear interest at the rate of 2 percent per annum and will mature on December 15, 1950. The terms of this offering are set forth in Treasury Department Circular No. 626 dated November 28, 1939, copy of which is printed on the following pages. It will be noted from Section III of Treasury Circular No. 626 that subscriptions for amounts up to and including $5,000 where the subscribers specify that delivery be made in registered bonds sixty days after the issue date will be given preferred allotment. In announcing the offering the Secretary of the Treasury stated that this provision is designed for the benefit of small investors, and that subscribers for preferred allotment will be restricted to one subscription. The subscription books for this offering are now open, and applications will be received by this bank asfiscalagent of the United States. Subscriptions should be made on official subscription blanks and mailed immediately or, if filed by telegram or letter, should be confirmed immediately by mail on the blanks provided. Where such telegraphic or letter subscription is made by a bank the telegram or letter should contain a complete classification of the subscriptions, if any, for the customers of the subscribing bank as provided for in the subscription blank. GEOEGE L. HAKRISON, President. UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 Dated and bearing interest from December 8, 1939 Due December 15, 1950 REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND AFTER DECEMBER 15, 1948 Interest payable June 15 and December 15 1939 Department Circular No. 626 Public Debt Service TREASURY DEPARTMENT, OFFICE OF THE SECRETARY, Washington, November 28,1939. I. OFFERING OF BONDS 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, approved September 24,1917, as amended, invites subscriptions, at par and accrued interest, from the people of the United States for 2 percent bonds of the United States, designated Treasury Bonds of 1948-50. The amount of the public offering is $500,000,000, or thereabouts. In addition to the amount offered for public subscription, $50,000,000, or thereabouts, of these bonds will be allotted to Government investment accounts. II. DESCRIPTION OF BONDS 1. The bonds will be dated December 8, 1939, and will bear interest from that date at the rate of 2 percent per annum payable on a semiannual basis on June 15 and December 15 in each year until the principal amount becomes payable, the first coupon being dated June 15, 1940. They will mature December 15, 1950, but may be redeemed at the option of the United States on and after December 15, 1948, in whole or in part, at par and accrued interest, on any interest day or days, on 4 months' notice of redemption given in such manner as the Secretary of the Treasury shall prescribe. In case of partial redemption the bonds to be redeemed will be determined by such method as may be prescribed by the Secretary of the Treasury. Prom the date of redemption designated in any such notice, interest on the bonds called for redemption shall cease. 2. The bonds shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States, or by any local taxing authority, except (a) estate or inheritance taxes, or gift taxes, and (b) graduated additional income taxes, commonly known as surtaxes, and excess-profits and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, associations, or corporations. The interest on an amount of bonds authorized by the Second Liberty Bond Act, approved September 24, 1917, as amended, the principal of which does not exceed in the aggregate $5,000, owned by any individual, partnership, association, or corporation, shall be exempt from the taxes provided for in clause (b) above. 3. The bonds will be acceptable to secure deposits of public moneys, but will not bear the circulation privilege and will not be entitled to any privilege of conversion. 4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $50, $100, $500, $1,000, $5,000, $10,000 and $100,000. Provision will be made for the interchange of bonds of different denominations and of coupon and registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by the Secretary of the Treasury. 5. The bonds will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States bonds. 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. Others than banking institutions will not be permitted to enter subscriptions except for their own account. Subscriptions from banks and trust companies for their own account will be received without deposit but will be restricted in each case to an amount not exceeding one-half of the combined capital and surplus of the subscribing bank or trust company. Subscriptions from all others must be accompanied by payment of 10 percent of the amount of bonds applied for. The Secretary of the Treasury reserves the right to close the books as to any or all subscriptions or classes of subscriptions at any time without notice. 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 bonds applied for, to make allotments in full upon applications for smaller amounts and to make reduced allotments upon, or to reject, applications for larger amounts, or to adopt any or all of said methods or such other methods of allotment and classification of allotments as shall be deemed by him to be in the public interest; and his action in any or all of these respects shall be final. Subscriptions for amounts up to and including $5,000 where the subscribers specify that delivery be made in registered bonds 60 days after the issue date will be given preferred allotment. In each such case payment must be made as provided in section IV of this circular. Allotment notices will be sent out promptly upon allotment, and the basis of the allotment will be publicly announced. IV. PAYMENT 1. Payment at par and accrued interest, if any, for bonds allotted hereunder must be made or completed on or before December 8, 1939, or on later allotment. In every case where payment is not so completed, the payment with application up to 10 percent of the amount of bonds applied for shall, upon declaration made by the Secretary of the Treasury in his discretion, be forfeited to the United States. Any qualified depositary will be permitted to make payment by credit for bonds allotted to it for itself and its customers up to any amount for which it shall be qualified in excess of existing deposits, when so notified by the Federal Reserve bank of its district. 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 bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive bonds. 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. HENRY MORGENTHAU, Jr., Secretary of the Treasury. FEDERAL RESERVE BANK OF NEW YORK Lot Number Fiscal Agent of the United States WINDOW TICKET Pending Delivery, Relating To NOTICE OF ALLOTMENT On Cash Subscription for Preferred Allotment of Registered United States Government Applied for by Subscriber for Delivery 60 Days After the Issue Date. To Subscriber: Obligations 1939 Referring to your subscription, numbered as above indicated, for $ (par value) UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939, DUE DECEMBER 15, 1950 for which you have applied under the provisions of the Treasury Department's circular containing the offering of such securities for subscription, you have been allotted by the Secretary of the Treasury of the amount applied for. Lot Number FEDERAL EESERVE B A N K OF N E W YORK Fiscal Agent of the United States NOTICE OF ALLOTMENT On Cash Subscription for Preferred Allotment of Registered United States Government Obligations Applied for by Subscriber for Delivery 60 Days After the Issue Date. To SubscHber: 1939 Referring to your subscription, numbered as above indicated, for $ _ (par value) UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939, DUE DECEMBER 15, 1950 _ for which you have applied under the provisions of the Treasury Department's circular containing the offering of such securities for subscription, you have been allotted by the Secretary of the Treasury" $ of the amount applied for. IMPORTANT INFORMATION FOR SUBSCRIBER 1. To facilitate completion of this transaction, please observe the following directions, and fill in, sign and return immediately the attached letter of instructions to the Federal Reserve Bank of New York, Fiscal Agent of the United States, New York, N. Y. Payment by Check, Cash, Charge or Credit 2. On or before the date of this issue payment must be made or completed at par, or at par and accrued interest if payment is to be made after the date of this issue, for the securities allotted to subscriber as stated above, and payment therefor may be made by check, cash, charge, or credit, as follows: By Check—A check tendered in payment should be made payable to the order of the FEDERAL RESERVE BANK OF NEW YORK, FISCAL AGENT OF THE UNITED STATES, and the proceeds thereof must be immediately available on the date that payment is due, but such cheek need not necessarily accompany the attached letter of instructions. The proceeds of a cheek tendered in payment by subscriber on the date of this issue, drawn on the Federal Eeserve Bank of New York, will be immediately available on the date of this issue. Should a subscriber wish to make payment by certified check on any other bank the securities can not be delivered until the Federal Reserve Bank of New York, fiscal agent of the United States, receives the proceeds of such check, and, therefore, such subscriber should tender such certified check at least 2 days prior to the date payment is due. By Cash—Payment may be made in cash. By Charge— A member bank may make payment by requesting us to charge its reserve account, or a nonmember clearing bank may make payment by requesting us to charge its clearing account. By Credit—If subscriber is a depositary of public moneys qualified under the provisions of Treasury Department Circular No. 92, dated February 23, 1932, as amended, with respect to special deposits of public moneys under the Act of Congress approved September 24, 1917, as amended, subscriber will be permitted to make payment by credit in the War Loan Deposit Account for securities of this issue allotted to it for itself and its customers up to any amount for which it shall be qualified in excess of existing deposits. Delivery 3. (a) Delivery of the securities of this issue will be made by the Federal Reserve Bank of New York at its head office in New York, N. Y. Subscriber has specified that delivery be made 60 days after the issue date. (b) Securities of this issue allotted to subscriber will be delivered over the counter to a representative of the subscriber only when a letter of authority signed officially by the subscriber identifying such representative is presented by him. Further Instructions 4. (a) Securities of this issue will be held for safekeeping by the Federal Reserve Bank of New York for the account of member banks only, provided such securities are the sole property of the member bank and registered in its name. (b) It is requested that all blank spaees be typed in where necessary on the attached letter of instructions to this bank and that such letter be signed officially and returned to this bank without delay. FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States Checked by. NA B-P Lot Number Application Number LETTER OF INSTRUCTIONS To FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States, New York, N. Y. From (Name and address of Subscriber) 1939 Referring to our subscription, numbered as above indicated, for $ (par value) UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939, DUE DECEMBER 15, 1950 for which we applied under the provisions of the Treasury Department's circular containing the offering of such securities for subscription, we have received your notice of allotment stating that we have been allotted by the Secretary of the Treasury $ of the amount applied for. As requested we are sending you the following instructions: , Issue the securities of this issue allotted to us as indicated in the schedule on the reverse side. Payment for such securities will be made or completed as indicated below. By charge to our reserve account, which you are authorized to make $ By check $ By cash $ By credit to War Loan Deposit Account as shown in the following "Certificate of Advice": CERTIFICATE OF ADVICE December 8,1939. I HEREBY CERTIFY that there has been deposited this day with the above bank or trust company, to the credit of the Federal Reserve Bank of New York, as fiscal agent of the United States, War Loan Deposit Account, to be held subject to withdrawal on demand through the Federal Reserve Bank of New York, the Dollars, $ sum of To be executed only when subscriber is making payment through War Loan Deposit Account. Cashier or Vice President. Hold or dispose of the securities of this issue allotted to us in the amounts and as indicated below. 1. Hold for safekeeping (provided securities are sole property of member bank and registered in its name) $. 2. Deliver over the counter to the undersigned $. 3. Ship to the undersigned $. Name of Subscriber. is letter of instructions must be signed officially in the space provided here and returned immediately to Federal Reserve Bank of New York, (Please print) By (Official signature) (Title) Street address Fiscal Agent of the United States. City, Town or Village, and State. DO NOT USE SPACES BELOW Paid Stamp Released Eeceived from FEDERAL EESEEVE BANK or N E W YOBK the above described Taken from Vault Counted Delivery Eeceipt Amount _ United States Government obligations allotted in the amount indicated above. Subscriber. Checked Delivered NA-B-P By Date By SCHEDULE FOR ISSUE OF REGISTERED BONDS 13^" Names and addresses must be printed or typewritten Indicate under appropriate denominations, number of bonds desired. Name in which bonds of this issue shall be registered, and postoffice address for interest checks and mail. Amount $50 $100 $500 $1,000 $5,000 XXX X X X X X FEDERAL EESERVE B A N K OP N E W YOBK Lot Number Application Number Fiscal Agent of the United States NOTICE OF ALLOTMENT On Cash Subscription to United States Government Obligations Applied for by Subscriber as Described Below To Subscriber: 1939 Referring to your subscription, numbered as above indicated, for $ (par value) UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939, DUE DECEMBER 15, 1950 for which you have applied under the provisions of the Treasury Department's circular containing the offering of such securities for subscription, you have been allotted by the Secretary of the Treasury $ of the amount applied for. IMPORTANT INFORMATION FOR SUBSCRIBER 1. To expedite delivery of the securities of this issue allotted to subscriber and to facilitate prompt completion of this transaction, please observe the following directions, and fill in, sign and return immediately the attached letter of instructions to the Federal Reserve Bank of New York, Fiscal Agent of the United States, New York, N. Y. Payment by Check, Cash, Charge or Credit 2. On or before the date of this issue payment must be made or completed at par, or at par and accrued interest if payment is to be made after the date of this issue, for the securities allotted to subscriber as stated above, and payment therefor may be made by check, cash, charge, or credit, as follows: By Check —A check tendered in payment should be made payable to the order of the FEDERAL RESERVE BANK OF NEW YORK, FISCAL AGENT OF THE UNITED STATES, and the proceeds thereof must be immediately available on the date that payment is due, but such check need not necessarily accompany the attached letter of instructions. The proceeds of a cheek tendered in payment by subscriber on the date of this issue, drawn on the Federal Keserve Bank of New York, will be immediately available on the date of this issue. Should a subscriber wish to make payment by certified check on any other bank the securities can not be delivered until the Federal Eeserve Bank of New York, Fiscal Agent of the United States, receives the proceeds of such check, and, therefore, such subscriber should tender such certified check at least 2 days prior to the date payment is due if he wishes delivery of the securities on the date of this issue. By Cash—Payment may be made in cash. By Charge—A member bank may make payment by requesting us to charge its reserve account, or a nonmember clearing bank may make payment by requesting us to charge its clearing account. By Credit—(a) If subscriber is a depositary of public moneys qualified under the provisions of Treasury Department Circular No. 92, dated February 23, 1932, as amended, with respect to special deposits of public moneys under the Act of Congress approved September 24, 1917, as amended, subscriber will be permitted to make payment by credit in the War Loan Deposit Account for securities of this issue allotted to it for itself and its customers up to any amount for which it shall be qualified in excess of existing deposits. (b) Securities of this issue allotted to a qualified depositary for its own account may be pledged with Federal Eeserve Bank of New York as collateral security for deposits in the War Loan Deposit Account. Securities of this issue allotted to a qualified depositary for account of its customers may not be pledged as such collateral security without the written consent of the owners of such securities. Delivery 3. (a) Delivery of the securities of this issue will be made by the Federal Reserve Bank of New York at its head office in New York, N. Y., and will not be made before the issue date. (b) Securities of this issue allotted to subscriber will be delivered over the counter to a representative of the subscriber only when a letter of authority signed officially by the subscriber identifying such representative is presented by him. (c) Securities of this issue allotted to subscriber will be delivered to others under special instructions from subscriber but only when such securities are either the sole property of the subscriber or are the property of its customers who have authorized the subscriber in writing to cause their said securities to be so delivered. Further Instructions 4. (a) Securities of this issue will be held for safekeeping by, or delivered to the Discount Department of, the Federal Reserve Bank of New York for the account of member banks only, provided such securities are the sole property of the member bank. (b) It is requested that all blank spaces be typed in where necessary on the attached letter of instructions to this bank and that such letter be signed officially and returned to this bank without delay. FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States Checked by NA-BL Application Number Lot Number LETTER OF INSTRUCTIONS To FEDERAL RESERVE BANK OF KEW YORK, Fiscal Agent of the United States, New York, N. Y. From (Name and address of Subscriber) 1939 (par value) Referring to our subscription, numbered as above indicated, for $ UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939, DUE DECEMBER 15, 1950 for which we applied under the provisions of the Treasury Department's circular containing the offering of such securities for subscription, we have received your notice of allotment stating that we have been allotted by the Secretary of the Treasury $ of the amount applied for. As requested we are sending you the following instructions: Issue in the following denominations the securities of this issue allotted to us. Payment for such securities will be made or completed as indicated below. Denominations Pieces Par amount Method of payment (LEAVE BLANK) $50 100 500 1,000 5,000 10,000 100,000 By charge to our reserve account, which you are authorized to make Bv check, Bv cash. By credit to War Loan Deposit Account as shown in the following "Certificate of Advice": Total CERTIFICATE OF ADVICE December 8, 1939. I HEREBY CERTIFY that there has been deposited this day with the above bank or trust company, to the credit of the Federal Reserve Bank of New York, as fiscal agent of the United States, War Loan Deposit Account, to be held subject to withdrawal on demand through the Federal Reserve Bank of New York, the sum of .Dollars, $ To be executed only when subscriber is making payment through War Loan Deposit Account. Cashier or Vice President. Hold or dispose of the securities of this issue allotted to us in the amounts and as indicated below. 1. Hold for safekeeping (for member bank only) $ 2. Hold as collateral security for War Loan Deposit Account $ 3. Deliver to your Discount Department $ 4. Register in the names as indicated in the schedule on reverse side 5. Deliver over counter to the undersigned 6. Ship to the undersigned 7. Deliver as requested in the following special instructions TO $ Dispose of such payment as follows Against payment of Par amount Credit our reserve account $ The undersigned, if a bank or trust company, hereby certifies (a) that such securities as you are instructed to hold or to deliver, as indicated in items numbered 1 and 3 above, are the sole property of the undersigned; (£>) that such securities as are hereby pledged, as indicated in item numbered 2 above, are either the sole property of the undersigned or are the property of its customers who have authorized the undersigned in writing to cause their said securities to be so pledged; and (c) that such securities as you are instructed to deliver, as indicated in item numbered 7 above, are either the sole property of the undersigned or are the property of its customers who have authorized the undersigned in writing to cause their said securities to be so delivered. Name of Subscriber GIT This letter of instructions must be signed officially in the space provided here and returned immediately to Federal Reserve Bank of New York, Fiscal Agent of the United States. (Please print) By , (Official signature) (Title) Street address City, TOTVTI or Village, and State DO NOT USE SPACES BELOW Paid Stamp Released Taken from Vault. Counted Delivery Receipt Received from FEDERAL RESERVE BANK OF N E W YORK the above described Amount United States Government obligations allotted in the amount indicated above. Checked Delivered_._ NA-BL Subscriber. Bv Date. By. > BON] rewritten Indicate under appropriate denominations, number of bonds desired. Name in which bonds of this issue shall be registered, and postoffice address for interest checks and mail. _____ — - Amount $50 $100 $500 $1,000 $5,000 $10,000 XXX $10 FEDERAL. RESERVE BANK SEC-ATS—I.B OF NEW YORK ADVICE TO SUBSCRIBER SECUR.T.ES DEPARTMENT Acknowledging Receipt of Cash Subscription For United States Government Obligations Mentioned Below To Application No. r i Date Your cash subscription for $ United States of America 2 Percent Treasury Bonds of 1948-50, Dated December 8, 1939, Due December 15, 1950 has been received by this bank, as fiscal agent of the United States, and, pursuant to the provisions of the Treasury Department's circular offering the above-mentioned obligations of the United States, allotment notices will be sent out promptly upon allotment and allotments will be made on the basis and up to the amounts indicated by the Secretary of the Treasury to this bank. FEDERAL RESERVE BANK OP NEW YORK, Fiscal Agent of the United States. Checked by. FEDERAL RESERVE BANK OF NEW YORK To CARD SEC—ATS—2.B SECURITIES DEPARTMENT RECORD Application No. Date Cash subscription received from above subscriber for $ United States of America 2 Percent Treasury Bonds of 1948-50, Dated December 8,1939, Due December 15, 1950 AMOUNT ALLOTTED $. IB-B-L-P-R CASH SUBSCRIPTION Lot Number Application Number IB BY OTHER THAN A BANKING INSTITUTION To United States Government Obligations Described Below Dated at. .1939 Subscriptions for amounts up to and including $5,000 where the subscribers specify that delivery be made in registered bonds sixty days after the issue date will be given preferred allotment. A subscriber may enter subscription either for preferred allotment, or for other allotment, but not for both. A subscriber for preferred allotment will be restricted to one subscription. An application, unless made by a banking institution, must be accompanied by payment of 10 percent of the amount applied for. FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States, New York, N. Y. DEAR SIRS : Pursuant to the provisions of Treasury Department Circular No. 626, dated November 28, 1939, please enter our (my) subscription for UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939 DUE DECEMBER 15, 1950 as indicated in the column filled in below. SUBSCRIPTION FOR OTHER ALLOTMENT SUBSCRIPTION FOR PREFERRED ALLOTMENT Please enter subscription for $ subscriber hereby specifying that delivery be made in registered bonds sixty days after the issue date so that this subscription will be given preferred allotment. Please enter subscription for $ subject to allotment other than preferred allotment. We (I) agree, in consideration of the receipt by you of this subscription, to make payment in full for the entire amount which may be allotted on this subscription, at par on or before the date of issue, or at par and accrued interest if on later allotment. If such payment is in excess of the amount deposited with this application the balance of the payin the manner indicated below ment due you will be made by the undersigned or (name) By check • By cash • This is a confirmation of a previous subscription., Write Yes Write No Subscriber . . . (Print name) Sign here (Official Signature Required) Street address. (City, Town or Village, and State) SPACES BELOW ABE FOE THE USE OF THE FEDEEAL BESEEVE BANK OF NEW YOBK EXAMINED CABBED Allotment LEDGES CLASSIFIED ACKNOWLEDGED Figured Checked Advised Payment Deposit Date DISPOSITION Released jj Date • By By Cash By Check Check No. Received Checked Interest Checked Drawn on Recorded Window Custody Mail BTC-B-P Cash Subscription by Banking Institution For Preferred Allotment Lot Number Application Number c Of United States Government Obligations Described Below For subscriptions on which other allotment is desired, use Form BTC-B-L Dated at .1939 Subscriptions for amounts up to and including $5,000 where the subscribers specify that delivery be made in registered bonds sixty days after the issue date will be given preferred allotment. A subscriber may enter subscription either for preferred allotment, or for other allotment, but not for both. A subscriber for preferred allotment will be restricted to one subscription. FEDERAL RESEBVE BANK OP NEW YORK, Fiscal Agent of the United States, New York, N. Y. DEAR Sms: Pursuant to the provisions of Treasury Department Circular No. 626, dated November 28, 1939, please enter subscription for UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939 DUE DECEMBER 15, 1950 as indicated below— For our own account $ , For our customers — Total Subscription $ and in each case subscriber specifies that delivery be made in registered bonds sixty days after the date of issue so that such subscription will be given preferred allotment. We hereby certify: that we have received applications from our customers in the amounts set opposite the customers' names on the attached list which is made a part of this subscription; that there has been paid to us by each such customer, not subject to withdrawal until after allotment and payment in full for securities allotted, 10 percent of the amount applied for; that each such application, to the best of our knowledge and belief, is made in good faith for the customer's legitimate requirements; and that we have no beneficial interest therein. "We further certify that our capital and surplus (not including undivided profits, reserves, etc.) is $. We agree: in consideration of the receipt by you of this subscription, to make payment in full for the entire amount which may be allotted on this subscription, at par on or before the date of issue, or at par and accrued interest if on later allotment. Such payment will be made by the method indicated hereon. By charge to our reserve account, which you are authorized to make |—I By check By credit to War Loan Deposit Account iiWBefore signing fill in all required spaces. • TO SUBSCRIBES: Mark (X) in proper space to indicate if this is: Original subscription Confirmation of a telegram Confirmation of a letter r~j (Name of Banking Institution) By T~j (Official signature) Address (Title) (City, Town or Village, and State) SPACES BELOW ABE FOB THE USE OP THE PEDEBAL BESEBVE BANK Carded Examined Figured Allotment Received Classified Checked Ledger Checked Advised Recorded Acknowledged Hold Method of Payment Window Disposition Government Deposit Date Released Amount Custody Mail By Other Departments List of customers' applications included in the foregoing subscription entered and certified by ( Name of banking institution) Post office address Name of customer in which bonds shall be registered (Please print or use typewriter) Post-Office Address for interest checks and mail State. Amount Subscribed BTC-B-L Application Number This form is to be used for subscriptions on which allotment is desired other than preferred allotment. Form BTC-B-P should be used when entering subscriptions for preferred allotment. Lot Number c Cash Subscription by Banking Institution To United States Government Obligations Described Below Dated at. .1939 FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States, New York, N. Y. DEAR SIRS: Pursuant to the provisions of Treasury Department Circular No. 626, dated November 28, 1939, please enter subscription as follows for UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1948-50 DATED DECEMBER 8, 1939 DUE DECEMBER 15, 1950 *For our own account (not classified below).. $ •For our customers (classified below) . Total Subscription. CLASSIFICATION OF CUSTOMERS' SUBSCRIPTIONS (For example: Class A — 10 at $1,000) (To SUBSCRIBER: DO not show on this form denominations of securities of this issue to be desired on allotment.) CLASS B2 CLASS C CLASS Bl Subscriptions over SI,000 to .55,000 Inclusive Subscriptions over S5.000 to S10.000 Incl. Subscriptions over S10.000 to S50.000 Incl. Number of Amount Number of Amount Amount Number of Leave Blank Subscript's Leave Blank Leave Blank Subscript's of Each of Each of Each Subscript's CLASS A Subscriptions of $1,000 and under Number of 1 Amount 1 TL e a v e T>I B l a n ik Subscript's I of Each I at at at at at at at at at at at at at at at at at at at at at at at at at at at at CLASS F CLASS G CLASS E CLASS D Subscriptions over S50,000 to $100,000 Incl. Sub's over §100,000 to £500,000 Inclusive Sub's over $500,000 to Sl,000,000 Inclusive Subscriptions of over $1,000,000 Number ofl Amount Amount Number of Amount Number of Amount Leave Blank Leave Blank Number of Leave Blank Subscript's Leave Blank Subscrip t's of Each of Each Subscript's 1 of Each of Each Subscript's at at at at at at at at at at at at at at at at at at at at at at at at We hereby certify: that we have received applications from our customers in the amounts set opposite the customers' names on the attached list which is made a part of this subscription; that there has been paid to us by each such customer, not subject to withdrawal until after allotment and payment in full for securities allotted, 10 percent of the amount applied for; that each such application, to the best of our knowledge and belief, is made in good faith for the customer's legitimate requirements; and. that we have no beneficial interest therein. We further certify that our capital and surplus (not including undivided profits, reserves, etc.) is $ We agree: in consideration of the receipt by you of this subscription, to make payment in full for the entire amount which may be allotted on this subscription, at par on or before the date of issue, or at par and accrued interest if on later allotment. Such payment will be made by the method indicated hereon. B y c h a r g e to our reserve account, which you authorized to make are B y check . - - - - - - - - - . . . . By credit to War Loan Deposit Account i—i DV'Before signing fill in all required spaces. • TO SUBSCBIBEK: Mark (X) in proper space to indicate if this is: rn (Name of Banking Institution) Original subscription , Confirmation of a telegram.... Confirmation of a letter • • • By. (Title) (Official signature) Address (City, Town or Village, and State) •NOTE: Securities of this issue allotted to a qualified depositary for its own account may be paid for by credit to War Loan Deposit Account and may also be deposited with Federal Eeserve Bank of New York as collateral security for such Account. Securities of this issue allotted to a qualified depositary for account of its customers may be paid for by credit to War Loan Deposit Account, but may not be deposited with Federal Reserve Bank of New York as collateral security for such Account without the written consent of the owners of such securities. SPACES BELOW ARE FOR THE USE OF THE FEDEEAL EESERVE BANK Examined Carded Allotment Received Classified Figured Checked Ledger Checked Advised Recorded Aeknowledged Government Deposit Hold Method of Payment Window Disposition Amount Custody Date Released Mail By Other Departments List of customers' applications included in the foregoing subscription entered and certined by Name of Customer (Pitas* print or utt typewriter) Amount Subscribed