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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States I"Circular No. 2 4 7 2 " ! U August 6, 1942 J Cash Offering of % Percent Treasury Certificates of Indebtedness of Series B-1943 Dated and bearing interest from August 15, 1942 Due August 1, 1943 To all Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following press statement was today made public: Secretary of the Treasury Morgenthau today announced the offering, through the Federal Reserve Banks, for cash subscription at par and accrued interest, of $1,500,000,000, or thereabouts, of 7/s percent Treasury Certificates of Indebtedness of Series B-1943. In order to insure more extensive participation on the part of banks, corporations, and others interested in a type of security carrying maturities longer than Treasury bills, the subscription books will remain open two days, and subscriptions up to $25,000 will be allotted in full. There will be no restrictions as to the basis for subscribing to this issue. The certificates will be dated August 15, 1942, will be payable on August 1, 1943, and will bear interest at the rate of seven-eighths of one percent per annum, payable on a semiannual basis on February 1 and August 1,1943. They will be issued in bearer form only, with two interest coupons attached, in denominations of $1,000, $5,000, $10,000 and $100,000. Pursuant to the provisions of the Public Debt Act of 1941, interest upon the certificates now offered shall not have any exemption, as such, under Federal Tax Acts now or hereafter enacted. The full provisions relating to taxability are set forth in the official circular released today. Subscriptions will be received at the Federal Reserve Banks and Branches, and at the Treasury Department, Washington. Banking institutions and security dealers 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. Subscriptions for the certificates from banks and trust companies for their own account will be received without deposit, but subscriptions from all others must be accompanied by payment of 5 percent of the amount of certificates applied for. The basis of allotment of subscriptions over $25,000 will be publicly announced, and payment for any certificates allotted must be made or completed on or before August 15,1942, or on later allotment. These certificates will be redeemed in cash at maturity and will carry no exchange privileges. The terms of this offering are set forth in Treasury Circular No. 693, dated August 6, 1942, a copy of which is printed on the reverse side. The subscription books are now open, and applications will be received by this bank as fiscal agent 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. Telegraphic or letter subscriptions 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. AT.T.ATT SPROUL, President. UNITED STATES OF AMERICA 7/8 P E R C E N T T R E A S U R Y C E R T I F I C A T E S OF INDEBTEDNESS Dated and bearing interest from August 15, 1942 1942 Department Circular No. 693 O F S E R I E S B-1943 Due August 1, 1943 TREASURY DEPARTMENT, O F F I C E OF T H E S E C R E T A R Y , Fiscal Service Bureau of t h e Public Debt Washington, I. O F F E R I N G OF August 6, 1942. CERTIFICATES 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended, invites subscriptions, at par and accrued interest, from the people of the United States for certificates of indebtedness of the United States, designated % percent Treasury Certificates of Indebtedness of Series B-1943. The amount of the offering is $1,500,000,000, or thereabouts. II. D E S C R I P T I O N OF CERTIFICATES 1. The certificates "will be dated August 15, 1942, and will bear interest from that date at the rate of % percent per annum, payable on a semiannual basis on February 1 and August 1, 1943. They will mature August 1, 1943, and will not be subject to call for redemption prior to maturity. 2. The income derived from the certificates shall be subject to all Federal taxes, now or hereafter imposed. The certificates shall be subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but shall be exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the United States, or by any local taxing authority. 3. The certificates will be acceptable to secure deposits of public moneys. They will not be acceptable in payment of taxes and will not bear the circulation privilege. 4. Bearer certificates with two coupons attached will be issued in denominations of $1,000, $5,000, $10,000 and $100,000. The certificates will not be issued in registered form. 5. The certificates will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States certificates. III. S U B S C R I P T I O N 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 of the securities which may be allotted thereon, prior to the closing of the subscription books. Banking institutions and security dealers 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 and security dealers 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. Subscriptions from all others must be accompanied by payment of 5 percent of the amount of certificates 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 certificates applied for, and to close the books as to any or all subscriptions at any time without notice; and any action he may take in these respects shall be final. Subject to these reservations, subscriptions for amounts up to and including $25,000 will be allotted in full. The basis of the allotment on all other subscriptions will be publicly announced, and allotment notices will be sent out promptly upon allotment. IV. PAYMENT 1. Payment at par and accrued interest, if any, for certificates allotted hereunder must be made or completed on or before August 15, 1942, or on later allotment. In every case where payment is not so completed, the payment with application up to 5 percent of the amount of certificates 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 certificates 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. G E N E R A L PROVISIONS 1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive subscriptions, to make allotments on the basis and up to the amounts indicated by the Secretary of the Treasury to the Federal Reserve Banks of the respective districts, to issue allotment notices, to receive payment for certificates allotted, to make delivery of certificates on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive certificates. 2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplemental or amendatory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve Banks. HENRY MORGENTHAU, J R . , Secretary of the Treasury. SL. 2 Special Notice to Subscribers in the Second Federal Reserve District Located Outside the Borough of Manhattan of the City of New York If you desire delivery of securities on August 15, 1942, "Letter of Instructions" accompanying allotment notice should be filled in and signed officially and mailed to this hank on Wednesday, August 12, 1942 in the special return envelope enclosed herewith. FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States. Special Notice to Subscribers Located in the Borough of Manhattan of the City of New York If you desire delivery of securities on August 15, 1942, "Letter of Instructions" accompanying allotment notice should be filled in and signed officially and returned to this bank by messenger by NOON, Wednesday, August 12, 1942. FEDERAL RESERVE BANK OF NEW YORK, SL. 1 Fiscal Agent of the United States. FEDERAL RESERVE BANK OF N E W YORK SEC-AT8-I.C SECUR.TIES DEPARTMENT ADVICE TO SUBSCRIBER Acknowledging Receipt of Cash Subscription For United States Government Obligations Mentioned Below To Application No. Date r n L J Your cash subscription for $ United States of America 7/$ Percent Treasury Certificates of Indebtedness, Series B-1943, Dated August 15, 1942, Due August 1, 1943 has been received by this bank, as fiscal agent of the United States, and, pursuant to the provisions of the TreasuryDepartment'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. F E D E R A L R E S E R V E B A N K OF N E W Y O R K , Fiscal Agent of the United States. Checked by. FEDERAL RESEBVE BANK O F NEW YORK CARD SEC-ATS-2.C SECURITIES DEPARTMENT RECORD To Application No. Date Cash subscription received f r o m above subscriber f o r $ United States of America % Percent Treasury Certificates of Indebtedness, Series B-1943, Dated August 15, 1942, Due August 1, 1943 AMOUNT ALLOTTED $. FEDERAL RESERVE BANK O F NEW YORK PAYMENT AND DISPOSITION SEC—ATS—3. C SECURITIES DEPARTMENT RECORD To Application No. Bate Cash subscription received f r o m above subscriber f o r $ United States of America % Percent Treasury Certificates of Indebtedness, Series B-1943, Dated August 15, 1942, Due August 1, 1943 DATE BOOK CREDIT CHARGE CASH DELIVERY TELLER GOV. DEPOSIT SHIP LLOTMENT I E M I U M AND/OR INTEREST DISPOSITION JRCHASE PRICE EPOSIT ILNCIPAL DUE 2FUND \LANCE X R U E O INT. VIOUNT DUE OVER COUNTER 1 SAFEKEEPING 1 1 SPECIAL DELIVERY INSTRUCTIONS 1 ADVICE O F CREDIT TO WAR LOAN D E P O S I T A C C O U N T B-BC APPLICATION FEDERAL RESERVE BANK O F NEW YORK NO. r J IN A C C O R D A N C E W I T H Y O U R C E R T I F I C A T E O F A D V I C E . W E HAVE T H I S DAY C R E D I T E D Y O U R " W A R L O A N D E P O S I T A C C O U N T " WITH T H E A M O U N T I N D I C A T E D A B O V E . ACCOUNT OF ALLOTMENT OF 7/% Percent Treasury Certificates of Indebtedness Series B-1943 Dated August 15, 1942 Due August 1, 1943 F E D E R A L R E S E R V E BANK O F N E W YORK FISCAL AGENT OF THE UNITED STATES SOVERNMENT BOND DEPARTMENT BOOK CREDIT PAYMENT B-BC FEDERAL RESERVE BANK O F NEW YORK APPLICATION NO. DATE IN A C C O R D A N C E W I T H Y O U R C E R T I F I C A T E O F A D V I C E . W E HAVE T H I S DAY C R E D I T E D Y O U R " W A R L O A N D E P O S I T A C C O U N T " WITH T H E A M O U N T I N D I C A T E D A B O V E . ACCOUNT O F ALLOTMENT O F T% / Percent Treasury Certificates of Indebtedness Series B-1943 Dated August 15, 1942 Due August 1, 1943 Application Number CASH SUBSCRIPTION BY OTHER THAN A BANKING INSTITUTION To United States Government Obligations Described Below Dated at 1942 Important Security dealers should submit subscriptions (for account of both themselves and their customers) through banking institutions. Subject to the reservations set forth in Treasury Department Circular No. 693, subscriptions for amounts up to and including $25,000 will be allotted in full. This application must be accompanied by payment of 5 percent of the amount applied for. Subscriptions can be made only for $1,000 or in multiples of $1,000. One day's interest on $1,000 on coupon payable February F E D E R A L RESERVE B A N K OP N E W 1, 1943 (184 day period) is $0.023777174 YORK, Fiscal Agent of the United States, New York, N. Y. DEAR SIRS : Pursuant to the provisions of Treasury Department Circular No. 693, dated August 6, 1942, please enter subscription for $ (par value) UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES B-1943, DATED AUGUST 15, 1942, DUE AUGUST 1, 1943 The undersigned subscriber (a) certifies 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 check • By cash Subscriber Sign here (Official Signature Required) Q Confirmation of a telegram ... (Print name) TO SUBSCRIBER: Mark ( X ) in proper space to indicate if this is: Original subscription • Street address. |~{ Confirmation of a letter (City, Town or Village, and State) SPACES BELOW ARE FOR T H E USE OF THE F E D E R A L RESERVE BANK OF N E W YORK ALLOTMENT AND PAYMENT SUBSCRIPTION RECORD BLOTTER E X A M I N E D FOR CLASSIFICATION ALLOTMENT 3 W N ACCOUNT CHECKED CHECKED DEPOSIT EXAMINED CARDED REFUNDED ACKNOWLEDGED BALANCE DISPOSITION FIGURED CHECKED DATE DATE DATE PAID ADVISED BY ("ash Subscription by Banking Institution Application Number To United States Government Obligations Described Below Dated a t Important Subject to the reservations set forth in Treasury Department Circular No. 693, subscriptions for amounts up to and including $25,000 will be allotted in full. Subscriptions can be made only for $1,000 or in multiples of $1,000. One day's interest on $1,000 on coupon payable February 1, 1943 (184 day period) is $0.023777174 F E D E R A L R E S E R V E B A N K OP N E W Y O R K , Fiscal Agent of the United States, New York, N. Y. DEAR SIRS : Pursuant to the provisions of Treasury Department Circular No. 693, dated August 6, 1942, please enter subscription as follows for UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES O F I N D E B T E D N E S S , S E R I E S B-1943, D A T E D A U G U S T 15, 1942, DUE AUGUST 1, 1943 •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 S U B S C R I B E R : DO not show on this form denominations of securities of this issue to be desired on CLASS A Subscription!) of $1,000 dumber of Amount I-eave Blank •ubscript'o of Each CLASS B Subscriptions over $1,000 to $10,000 Incl. Number of 1 Amount Subscript's I of Each Leave Blank at CLASS CI CLASS C2 Subecriptions over $10,000 to $25,000 Incl. Subscriptions over $25,000 to $50,000 Incl. Number of 1 Amount Number of 1 Amount Subscript's 1 of Each Leave Blank Subscripts | of Each Leave Blank 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 .« ' ' allotment.) 1 1 CLASS D CLASS E CLASS P CLASS Q Subscriptions over $60,000 to $100,000 Incl. Sub's over $100,000 to $800,000 Inclusive Bub's over $800,000 to $1,000,000 Inclusive Subscriptions of over $1,000,000 Number of I Amount Number of 1 Amount Number of 1 Amount Number of 1 Amount Leave Blank of Each Subscript's I of Each Subscript's 1 of Each Lttre Blank Subscript's! Leave Blank Subscript's I of Each Leave Blank at at at at at at at at ******* at at at at at nt at at at at at at at at • • •. ..-..-. at • - at ... __ - " ••• " """ We hereby certify: .. . . ... . . . (a) that we have received applications from our customers in the amounts set opposite the customers' names listed on the reverse side of this form 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, five percent of the amount applied for; and (b) that this subscription is solely for our own account or for the account of the customers specified herein; that no arrangements 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. We agree : * in consideration of the receipt by you of this subscription, to make payment in full for the entire amount which uuucuh/ui,, o u v u p a j m c u i u*s rnaue uy i n e m e t n o d i n d i c a t e d hereon. By charge to our reserve account, which you are authorized to make - Q By credit to War Loan Deposit Account By check Q TO SUBSCRIBER: Mark ( X ) in proper spaces to indicate if this is: • Fill in all required spaces before signing. (Name of Banking Institution) Original subscription Confirmation of a t e l e g r a m . . . 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 Reserve 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 aueh securities. ' „ , SPACES BELOW ARE FOR THE USE OF THE FEDERAL RESERVE I W N ACCOUNT CHECKED EXAMINED K Nfor OW LEDGED Digitized FRASER CHECKED CARDED PAYMENT ALLOTMENT S U B S C R I P T I O N RECORD E X A M I N E D FOR CLASSIFICATION BANK • • * - Figured Checked Advised DISPOSITION D R/A B/C 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 B A N K OP N E W Y O R K 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: 1942 Referring to your subscription, numbered as above indicated, for $ (par value) UNITED S T A T E S OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES B-1943 D A T E D A U G U S T 15, 1942, DUE A U G U S T 1, 1943 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 T H E 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 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 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 t e n d e r auch certified check a t least 2 days prior t o t h e d a t e p a y m e n t is d u e if he wishes delivery of t h e securities on t h e d a t e 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 Reserve 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) Reserve Bank member bank. (b) ;his 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 OP NEW YORK, Fiscal Agent of the United States Checked by VA-C Application Number LETTER OF INSTRUCTIONS T o 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) 1942 Referring to our subscription, numbered as above indicated, for $ (par value) UNITED S T A T E S OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES B-1943 D A T E D A U G U S T 15, 1942, DUE A U G U S T 1, 1943 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 $ By credit to War Loan Deposit Account as shown in the following "Certificate of Advice": CERTIFICATE OF ADVICE August 15, 1942 1 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, $ T o be executed only when subscriber is making payment through War Loan Deposit Account. Cashier or Vice President. Issue and dispose of securities allotted on this subscription as indicated below: DISPOSITION DENOMINATIONS 1. Deliver over the counter to the undersigned $. Leave Blank Par Value Pieces xxx 2. Ship to the undersigned. 3. Hold in safekeeping bank only) xxx (For member $ 4. Hold as collateral for War Loan deposits $ xxx $1,000 5. Deliver as indicated below 5,000 Deliver to: $ Againat Payment of P a r Amount 10,000 $ $ XX xxx 100,000 Total 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 o dispose of in the manner indicated in item numbered 3 above are the sole property of the undersigned, and (b) that the securities 'hich you are hereby or hereafter instructed to dispose of in the manner indicated in items numbered 4 and S above are either the sole roperty of the undersigned or the property of its customers who have authorized in writing such disposition. This letter of instructions must be signed officially in the space provided here and returned immediately to Federal Reserve Bank of New York, Name of Subscriber. By.... (Please print) (Official signature required) (Title) Street address Fiscal Agent of the United States. City, Town or Village, and State. DO NOT U S E SPACES BELOW Delivery Receipt PAYMENT RECORD IYMENT RECEIVED Taken from Vault DELIVER AGAINST PAYMENT Counted Received from FEDERAL RESERVE BANK or NEW YORK the above described United States Government obligations allotted in the amount indicated above. Checked Delivered