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FEDERAL RESERVE BANK

O F N E W YORK
Fiscal Agent of the United States
Circular No. 2 2 2 7 1
June 24, 1941 J

OflFering of Reconstruction Finance Corporation 1 Percent Notes of Series W,
Dated and bearing interest from July 3, 1941

Due April 15, 1944

FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE
UNITED STATES, WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE

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

The Secretary of the Treasury, on behalf of the Reconstruction Finance Corporation, is today offering for subscription, at par and accrued interest, through the
Federal Reserve Banks, notes of the Corporation, designated 1 percent notes of Series
W, in the amount of $500,000,000 or thereabouts, and at the same time is offering to
purchase on July 3, 1941, at par and accrued interest, the outstanding notes of Series
N, maturing July 20, 1941, to the extent the holders of such maturing notes subscribe
for the new notes. The amount of the Series N notes outstanding is approximately
$211,000,000.
The terms of this offering are set forth in Treasury Circular No. 664, dated
June 24,1941, copy of which is printed on the following pages.
The subscription books are now open, and applications will be received by this
bank as fiscal agent of the United States. Subscriptions will not be received at the
Reconstruction Finance Corporation. 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. A telegraphic or letter subscription entered by a bank should state the amount subscribed for the bank's own
account and the number of subscriptions, at each amount, entered for the customers of
the subscribing bank.




ALLAN SPROUT,,

President.

RECONSTRUCTION FINANCE CORPORATION
1 PERCENT NOTES OF SERIES W, DUE APRIL 15, 1944
Dated and bearing interest from July 3, 1941
FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE
UNITED STATES, WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE

1941

TREASURY DEPARTMENT,

Department Circular No. 664

OFFICE OF THE SECRETARY,
Fiscal Service

Bureau of the Public Debt

Washington, June 24,1941.

I. OFFERING OF NOTES AND INVITATION FOR TENDERS
1. The Secretary of the Treasury, on behalf of the Reconstruction Finance Corporation,
invites subscriptions, at par and accrued interest, from the people of the United States for notes
of the Reconstruction Finance Corporation, designated 1 percent notes of Series W. The amount
of the offering is $500,000,000, or thereabouts.
2. The Secretary of the Treasury, on behalf of the Reconstruction Finance Corporation,
offers to purchase on July 3, 1941, at par and accrued interest, the outstanding notes of the
Corporation designated Series N, maturing July 20, 1941, to the extent to which the holders
thereof subscribe to the issue of Series W notes hereunder. Tenders of Series N note's for that
purpose are invited.
II. DESCRIPTION OF NOTES
1. The notes will be dated July 3, 1941, and will bear interest from that date at the rate
of 1 percent per annum, payable on a semiannual basis on October 15, 1941, and thereafter on
April 15 and October 15 in each year until the principal amount becomes payable. They will
mature April 15, 1944, and will not be subject to call for redemption prior to maturity.
2. The notes will be issued under authority of an act of Congress (known as "Reconstruction Finance Corporation Act") approved January 22, 1932, as amended and supplemented.
The income derived from the notes shall be subject to all Federal taxes, now or hereafter
imposed. The notes 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 Territory, dependency, or possession of the United States, or by
any State, county, municipality, or local taxing authority. These notes shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment
or deposit of which shall be under the authority or control of the United States or any officer or
officers thereof.
3. The authorizing act provides that in the event the Reconstruction Finance Corporation
shall be unable to pay upon demand, when due, the principal of or interest on notes issued by it,
the Secretary of the Treasury shall pay the amount thereof, which is authorized to be appropriated, out of any moneys in the Treasury not otherwise appropriated, and thereupon to the extent
of the amounts so paid the Secretary of the Treasury shall succeed to all the rights of the holders
of such notes.
4. Bearer notes with interest coupons attached will be issued in denominations of $1,000,
$5,000, $10,000 and $100,000. The notes will not be issued in registered form.




III. SUBSCRIPTION AND ALLOTMENT
1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the
Treasury Department, Washington. Subscribers must agree not to sell or otherwise dispose of
their subscriptions, or the securities which may be allotted thereon, prior to the closing of the
subscription books. 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 holders of Series N notes tendered for purchase should be accompanied by such notes to a par amount equal to the par amount of notes of
Series W subscribed for. Other 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.
Other subscriptions from all others must be accompanied by payment of 10 percent of the amount
of notes applied for.
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 notes 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, subscriptions from holders of Series N notes who tender
them for purchase hereunder will be allotted in full. 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 notes allotted hereunder must be made
or completed on or before July 3, 1941, 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 notes applied for
shall, upon declaration made by the Secretary of the Treasury in his discretion, be forfeited to
the United States. Notes of Series N tendered for purchase must have coupons dated July 20,
1941, attached, and payment will be made at par and accrued interest to July 3, 1941. The
principal proceeds of the Series N notes will be applied in payment of the Series W notes, and
accrued interest from January 20, 1941 to July 3, 1941 on Series N notes ($3.96409 per $1,000)
will be paid following acceptance of the notes.

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 notes allotted, to make delivery of notes on full-paid
subscriptions allotted, and they may issue interim receipts pending delivery of the definitive notes.
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

Fiscal Agent of the United States
June 23, 1941.
FOR IMMEDIATE ATTENTION
Information Relating to Subscriptions
to Offering of Reconstruction Finance Corporation
1 Percent Notes of Series W-1944
To Banking Institutions, and Others Concerned, in the
Second Federal Reserve District:
On Tuesday, June 24, 1941, the Secretary of the Treasury, on behalf of
the Reconstruction Finance Corporation, will announce a plan for refinancing the
outstanding notes of Series N of the Corporation maturing July 20, 1941, and raising
additional funds for the Corporation, through offering for subscription, at par and
accrued interest, through the Federal Reserve Banks, notes of the Corporation,
designated 1 percent notes of Series Vf, in the amount of O50°>0 00 > 000 > o r thereabouts,
and at the same time offering to purchase on July 3, 1941, at par and accrued interest, the outstanding notes of Series N to the extent the holders of such maturing
notes subscribe for the new notes.
The notes of Series W to be offered will be dated July 3, 1941, and will
bear interest from that date at the rate of 1 percent per annum payable on a semiannual basis on April 15 and October 15 in each year. They will mature on April 15,
1944, and will not be subject to call for redemption prior to maturity. They will
be issued only in bearer form with coupons attached, in denominations of $1,000,
$5,000, $10,000 and $100,000.
Subscriptions from holders of Series N notes tendered for purchase should
be accompanied by such notes to a par amount equal to the par amount of notes of
Series W subscribed for.
The terms of this offering are set forth in a Treasury circular dated
June 24, 1941, copies of which are being printed and will be mailed to you later
tonight together with subscription forms.
The subscription books will be opened June 24, 1941, and applications
should be filed promptly with this bank as the Secretary of the Treasury reserves the
right to close the subscription books at any time without notice. If the official
offering circular and subscription forms are not received in time to be filled out
and mailed on June 24, 1941, it is suggested that subscribers file their subscriptions
without further delay by telegram or letter, confirming them by mail as soon as the
forms shall have been received. Such telegraphic or letter subscription to the cash
offering entered by a bank should state the amount subscribed for the bank's own
account and the number of subscriptions, at each amount, entered for the customers
of the subscribing bank.




Allan Sproul,
President.

Application Number

FEDERAL RESERVE B A N K OF N E W YORK

Fiscal Agent of the United States

NOTICE OF ALLOTMENT
On Cash Subscription to Reconstruction Finance Corporation Obligations
Applied for by Subscriber as Described Below
To Subscriber:
1941

Kef erring to your subscription, numbered as above indicated, for $

(par value)

RECONSTRUCTION FINANCE CORPORATION 1 PERCENT NOTES OF SERIES W
DATED JULY 3, 1941, DUE APRIL 15, 1944

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 or Charge
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 or charge, 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 ia due,
but such check need not necessarily accompany the attached letter of instructions. The proceeds of a check tendered in payment by
subscriber on the date of this issue, drawn on the Federal Reserve Bank of New York, will be immediately available on the date of thia
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 day* 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.

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)
Reserve Bank
member bank.
(b)
this bank and

Securities of this issue will be held for safekeeping by, or delivered to the Discount Department of, the Federal
of New York for the account of member banks only, provided such securities are the sole property of the
It is requested that all blank spaces be typed in where necessary on the attached letter of instructions to
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-RFC-NL




Application Number

LETTER OF INSTRUCTIONS
To FEDERAL RESERVE BANK OF NEW YORK,

Fiscal Agent of the United States,
Government Bond Department,
New York, N. Y.
From (Name and address of Subscriber)
1941

ferring to our subscription, numbered as above indicated, for $

(par value)

RECONSTRUCTION FINANCE CORPORATION 1 PERCENT NOTES OF SERIES W
DATED JULY 3, 1941, DUE APRIL 15, 1944

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:
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

;

$

Tssue and dispose of securities allotted on this subscription as indicated below:
DISPOSITION

DENOMINATIONS

1. Deliver over the counter to the underPar Value

Pieces

Leave Blank

XXX

signed

$

3. Hold in safekeeping (For member
bank only)
$
4. Hold as collateral for War Loan
deposits
&
$
5. Deliver as indicated bek )W

XXX
XXX

$1,000
5,000

Deliver to:

Against
Payment of

Par Amount

10,000

$

XX XXX

100,000
Total

and credit proceeds to our Reserve account

•

or to onr account with
The undersigned, if a bank or trust company, hereby certifies (a) that the securities which you are hereby or hereafter instructed
to dispose of in the manner indicated in item numbered 3 above are the sole property of the undersigned, and (b) that the securities
which you are hereby or hereafter instructed to dispose of in the manner indicated in items numbered 4 and 5 above are either the sole
property of the undersigned or the property of its customers who have authorized in writing such disposition.

Thw 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.

Name of Subscriber.
(Please print)
By.
(Official signature required)

(Title)

Street address
City, Town or Village, and State.

DO NOT USE SPACES IiELOW

I

Delivery Receipt

PAYMENT RECORD

I
PAYMENT RECEIVED
R/A

DELIVER AGAINST PAYMENT

$

OF

Received from FEDERAL RESERVE BANK OF NEW YORK the above described
Reconstruction Finance Corporation obligations allotted in the amount indicated above.

$
By

Date

CASH

Taken from Vault

NA-RFC-NL



Counted

Checked

Delivered

FEDERAL RESERVE BANK

RFC-ATS-1.NS

OF NEW YORK

ADVICE TO SUBSCRIBER

SECUR.T1ES DEPARTMENT

Acknowledging Receipt of Cash Subscription
For Reconstruction Finance Corporation Obligations Mentioned Below
To

Application No.
Date

r
L

J
Your cash subscription for $
Reconstruction Finance Corporation 1 Percent Notes of Series W, Dated July 3,1941, Due April 15, 1944
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 Reconstruction Finance Corporation,
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.


http://fraser.stlouisfed.org/
Checked by.
Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF NEW YORK,

Fiscal Agent of the United States.

FEDERAL RESERVE BANK
OF NEW YORK

To

CARD

RFC-ATS-2.NS
SECURITIES DEPARTMENT

RELCORI"}

Application No.
Date

Cash subscription received
from above subscriber for $
Reconstruction Finance Corporation 1 Percent Notes of Series VV, Dated July 3, 1941, Due April 15, 1944




AMOUNT ALLOTTED $.

FEDERAL RESERVE BANK
OF NEW YORK

RFC-ATS-3.NS
SECURITIES DEPARTMENT

PAYMENT AND DISPOSITION RECORD

Application No.

To

Date

Cash subscription received
from above subscriber for $
Reconstruction Finance Corporation 1 Percent Notes of Series W, Dated July 3,1941, Due April 15, 1944
CASH

DELIVERY TELLER

GOV. DEPOSIT

SHIP

CHARGE

DATE
ALLOTMENT
PREMIUM AND/OR
INTEREST

DISPOSITION

PURCHASE PRICE
DEPOSIT

OVER COUNTER

SAFEKEEPING

PRINCIPAL DUE
REFUND
BALANCE
ACCRUED INT.

http://fraser.stlouisfed.org/
AMOUNT DUE
Federal Reserve Bank of St. Louis

SPECIAL DELIVERY INSTRUCTIONS

NR-RFC

ORIGINAL

NON-NEGOTIABLE RECEIPT
For Reconstruction Finance Corporation Obligations as Mentioned Below
Number

Issued to.
Street.

Date

Town

State.

Receipt is hereby acknowledged of $
par amount % Percent Reconstruction Finance Corporation Notes of Series N,
maturing July 20, 1941, tendered for purchase by the Secretary of the Treasury, the principal proceeds of which are to cover payment of a like
amount of 1 Percent Reconstruction Finance Corporation Notes of Series W, maturing April 15, 1944, subscribed for and allotted in full subject
to the terms of Treasury Department Circular No. 664, dated June 24, 1941. If such new notes are to be delivered at the Federal Reserve Bank of
New York over the counter to your representative the ' ' authority to deliver'' set forth below should be duly executed and returned to us.
FEDERAL RESERVE BANK OF NEW YORK

Date Received

Fiscal Agent of the United States.

Mail Sheet No.

Refer to your letter dated

No.

Teller.

AUTHORITY TO DELIVER
FEDERAL RESERVE BANK OF NEW YORK

Fiscal Agent of the United States.
You are hereby authorized to deliver to

DELIVERY RECEIPT
Received from the Federal Reserve Bank of New York Reconstruction Finance Corporation obligations at par in the amount and
as indicated in the above non-negotiable receipt.

( Name of representative 1

whose signature appears below $
par amount
of Reconstruction Finance Corporation obligations subscribed for and
allotted in full as indicated in the above non-negotiable receipt.
Name




(Please print)

By
(Official signature required)

Date

DUPLICATE

NON-NEGOTIABLE RECEIPT
For Reconstruction Finance Corporation Obligations as Mentioned Below
Issued to.

Number

Street.

Date

Town
State.
Eeceipt is hereby acknowledged of $
par amount % Percent Eeconstruction Finance Corporation Notes of Series N,
maturing July 20, 1941, tendered for purchase by the Secretary of the Treasury, the principal proceeds of which are to cover payment of a like
amount of 1 Percent Eeconstruction Finance Corporation Notes of Series W, maturing April 15, 1944, subscribed for and allotted in full subject
to the terms of Treasury Department Circular No. 664, dated June 24, 1941. If such new notes are to be delivered at the Federal Eeserve Bank of
New York over the counter to your representative the "authority to deliver" set forth below should be duly executed and returned to us.
FEDERAL EESEEVE BANK or NEW TOBK

Date Eeceived

Fiscal Agent of the United States.

Mail Sheet No.

Eefer to your letter dated

No.
DATE

Teller.
OVER COUNTER

SOURCE OF RECEIPT
GOVERNMENT DEPOSIT
SAFEKEEPING

REGISTERED MAIL

ALLOTMENT

D I S P O S I T I O N

PREMIUM
INTEREST DUE

OVER COUNTER

SAFEKEEPING

GOVERNMENT DEPOSIT

TOTAL
INTEREST PAYABLE
AMOUNT FRASER
Digitized forPAID
http://fraser.stlouisfed.org/
AMOUNT RECEIVED
Federal Reserve Bank of St. Louis

SPECIAL DELIVERY INSTRUCTIONS

SHIP

IB-RFC-NL
Application Number

FEDERAL RESERVE BANK OP NEW YORK

Fiscal Agent of the United States

CASH SUBSCRIPTION
BY OTHER THAN A BANKING INSTITUTION
To Reconstruction Finance Corporation Obligations
Described Below
Dated at
.1941

This application must he accompanied by payment of 10 percent of the amount applied for.
Subscriptions must be for even multiples of $1,000.

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. 664, dated June 24, 1941, please enter our
(my) subscription for $
(par value)

RECONSTRUCTION FINANCE CORPORATION 1 PERCENT NOTES OF SERIES W
DATED JULY 3, 1941
DUE APRIL 15, 1944
The undersigned subscriber
(a) certifies that this subscription is solely for subscriber's own account; that no arrangements have been or will be made
for the sale or other disposition of this subscription, or of the securities which may be allotted thereon, prior to the
closing of the subscription books; and
(b) agrees, 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
payment due you will be made by the undersigned or (name)
in the manner indicated below.
By cash

•
Subscriber . . .

TO SUBSCEIBEE:
Mark ( X ) in proper space
to indicate if this is:
Original subscription
Confirmation of a telegram
Confirmation of a letter

Sign here

• •
• •
• •

Q
(Print name)
(Official Signature Required)

Street address.
(City, Town or Village, and State)

SPACES BELOW ABE FOB THE USE OF THE FEDERAL BESEBVE BANK OF NEW YOBK
SUBSCRIPTION RECORD

ALLOTMENT AND PAYMENT

BLOTTER

EXAMINED FOR
CLASSIFICATION

ALLOTMENT

OWN ACCOUNT
CHECKED

CHECKED

DEPOSIT

EXAMINED

CARDED

REFUNDED

ACKNOWLEDGED

BALANCE




DISPOSITION

FIGURED CHECKED ADVISED
DATE
DATE
DATE PAID

BY

•
EA-RFC-N

For use when Reconstruction Finance Corporation YQ% notes
of Series N maturing July 20, 1941 are tendered for purchase.
FEDEBAL RESERVE B A N K OP N E W YOBK

Fiscal Agent of the United States
SUBSCRIPTION FOR RECONSTRUCTION FINANCE CORPORATION 1 PERCENT NOTES OF SERIES W, DATED JULY 3, 1941, DUE APRIL 15, 1944.
Dated at.
FEDERAL RESERVE BANK OF NEW YORK,

Fiscal Agent of the United States,
New York, N. Y.

.1941

DEAR SIRS :

Subject to the provisions of Treasury Department Circular No. 664, dated June 24, 1941, the undersigned hereby
subscribes for $
(face amount) notes of the Reconstruction Finance Corporation designated 1 percent
notes of Series W, dated July 3, 1941, and tenders herewith for purchase at par and accrued interest by the Secretary of
the Treasury, on behalf of the Reconstruction Finance Corporation, a like face amount of notes of the corporation designated Series N, maturing July 20, 1941, with July 20, 1941 coupons attached, the principal proceeds to cover payment of
notes of Series W, subscribed for and allotted, and requests that the difference representing accrued interest from January
20, 1941 to July 3, 1941 ($3.96409 per $1,000) be paid to the undersigned upon acceptance of the Series N notes and that
such payment be disposed of as follows:
By check made payable to our order

Q

By credit to our Reserve account •

By credit to our account with

Issue notes of Series W allotted on this subscription in the denominations and amounts as indicated below:
Number of Pieces

Denominations

Par Amount

Q

Notes of Series N tendered for purchase by
the Secretary of the Treasury are, as indicated
below,—

Leave this Space Blank

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

Delivered to you herewith

$

To be withdrawn from securities you are holding for our
account
$

$1,000
5,000
10,000
X

X X X

X

X

X

X

X

To be delivered to you for our
account by

X

100,000

$

Total
Dispose of the securities allotted on this subscription in the amounts and as indicated below:
1. Deliver over the counter to the undersigned
2. Ship to the undersigned
3. Hold in safekeeping (for member bank only)
4. Hold as collateral for War Loan deposits
5. Deliver as indicated below
Deliver to:

Against
Payment of

Par Amount
v

$

and credit proceeds to our Reserve account

•

or to our account with
The undersigned, if a bank or trust company, hereby certifies (a) that the securities which you are hereby or hereafter instructed
to dispose of in the manner indicated in item numbered 3 above are the sole property of the undersigned, and (b) that the securities
which you are hereby or hereafter instructed to dispose of in the manner indicated in items numbered 4 and 5 above are either the sole
property of the undersigned or the property of its customers who have authorized in writing such disposition.
(Fill in all required spaces before signing)

TO SUBSCRIBER:

Name of Subscriber
(Please print)

Please indicate if this is a confirmation
If subscriber is a Bank or Trust Company,
please indicate amount of this subscription
for own account.
$

(Official signature required)

(Title)

Street address
City, Town or Village, and State

,

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken from Vault
Counted
Checked
Delivered



Delivery Beceipt
Received from FEDERAL RESERVE BANK OF NEAV YOEK the above described

Reconstruction Finance Corporation notes of Series W in the amount indicated
above.
Subscriber
Date.

By.

BTC-RFC-NL
FEDERAL EESERVE B A N K OP N E W YORK

Application Number

Fiscal Agent of the United States

Cash Subscription by Banking Institution
To Reconstruction Finance Corporation Obligations
Described Below
Dated at.
.1941

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. 664, dated June 24, 1941, please enter subscription as follows for

RECONSTRUCTION FINANCE CORPORATION 1 PERCENT NOTES OF SERIES W
DATED JULY 3, 1941
DUE APRIL 15, 1944
(Not to exceed one-half of combined capital
and surplus as certified in (c) below).

For our own account (not classified below).. $_
For our customers (classified below)
Total Subscription

(To

SUBSCRIBER: DO

.
$

CLASSIFICATION OF CUSTOMERS' SUBSCRIPTIONS
(For example: Class A— 10 at $1,000)
(Subscriptions must be for even multiples of $1,000.)
not show on this form denominations of securities of this issue to be desired on allotment.)

CLASS A
Subscriptions of 81,000
Number of
Amount
Leave Blank
Subscript's
of Each

CLASS Bl
CLASS B2
CLASS C
Subscriptions over $1,000 to $5,000 Inclusive Subscriptions over $5,000 to 810,000 Incl. Subscriptions over $10,000 to $50,000 Inol.
Number of
Number of
Amount
Amount
Amount
Number of
Leave Blank Subscript's
Leave Blank
Leave Blank Subscript's
Subscript's
of Each
of Each
of Each

at

at

at

at

at

at

at

at

at

at

at

at

at

at

at
at
at

CLASS D
CLASS G
CLASS F
CLASS E
Subscriptions over $50,000 to 1100,000 Inrl. Pub's over $100,000 to $500,000 Inclusive Sub's over 8500,000 to $1,000,000 Inclusive
Subacriptions of over $1,000,000
Number of
Amount
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hereby certify:
(a) 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;
(b) that this subscription is solely for our own account or for the account of the customers specified herein; that noarrangements have been or will be made for the sale or other disposition of our subscription, or of the securities,
which may be allotted thereon, prior to the closing of the subscription books; and that our customers whose subscriptions are included herein will be requested to confirm to us their agreement to the same conditions with respect
to their subscriptions; and
(c) 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 -

By check -

•

•

JWFill in all required spaces before signing.
TO SUBSCRIBER:
Mark (X) in proper space
to indicate if this is:
Original subscription
Confirmation of a telegram
Confirmation of a letter

(Name of Banking Institution)

By

>

•

•

•

(Title)

(Official signature)

Address
(City, Town or Village, and State)

SPACES BELOW ARE FOR THE USE OF THE FEDERAL RESERVE BANK
< IUPTION RECORD
1

BLOTTER

EXAMINED FOR
CLASSIFICATION

OWN ACCOUNT

CHECKED

CHECKED

VMINED
ACKNOWLEDGED




CARDED

PAYMENT

ALLOTMENT
tigured Checked Advised
DISPOSITION

D
R/A
C

List of customers' applications included in the foregoing subscription
entered and certified by
(Name of banking institution)

Post office address

Name of Customer
(Please print or use typewriter)




Address

State.

Amount Subscribed

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