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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
2697
[Circular No.27, 1943 T
September
J

THIRD WAR LOAN

SUBSCRIPTION BOOKS TO CLOSE OCTOBER 2, 1943
ON CASH OFFERING OF

2^/2 Percent Treasury Bonds of 1964-69
2 Percent Treasury Bonds of 1951-53
% Percent Treasury Certificates of Indebtedness of Series E-1944

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

The following- is quoted from a press statement made public on September 25,
1943 by the Treasury Department with respect to the closing of the subscription books
for the current cash offering of Treasury bonds and certificates of indebtedness:
Under Secretary of the Treasury D. W . Bell announced today that the subscription b o o k s will close, at the close of business O c t o b e r 2, on the three issues of marketable securities available in the current Third W a r Loan.
T h e s e are the 2y 2 per cent Treasury Bonds of 1964-69, the 2 per cent Treasury
B o n d s of 1951-53, and the % per cent Treasury Certificates of Indebtedness.
Subscriptions for these issues and for Series C Savings Notes which are placed in
the mail up to midnight of October 2 will be treated as timely subscriptions.
" I t is n o w apparent," said Under Secretary Bell, "that there is a great w a v e of
b u y i n g by individuals. W e know that there are a great many sales of Savings Bonds
which have not been reported to the Federal Reserve Banks because of the time elapsed
in contacting the prospect, making the sale, processing the order through the issuing
agent, and accounting for the bond stub and proceeds to the Federal Reserve Bank.
" W e have more than 60,000 issuing agents and they have done an excellent j o b in
issuing the bonds, but we k n o w that they have a man-power problem just like every
one else and that while they seem to be nearly current in delivery of the bonds to
purchasers, the accounting for those bonds to the Treasury must necessarily take a
number of days.
" I n order that every community will get credit for sales made during the campaign,
w e have set O c t o b e r 16 as the final date for such Savings Bond sales to clear through
the Federal Reserve Banks."

Every effort should be made, within the time now remaining, to promote the
sale of the securities offered in the Third War Loan, particularly to individuals,
in order that the minimum goal of $15,000,000,000 may be not only attained but
exceeded by the widest possible margin.




ALLAN

SPROUL,

President.

fofFEDERAL
OF

RESERVE
NEW

BANK

YORK

September 28, 1943.

To the Issuing Agent Addressed:
The Secretary of the Treasury has announced that the Third War Loan
Drive w i l l close at midnight on October 2, 1943.
We wish to i n v i t e the attention of issuing agents q u a l i f i e d f o r sale
of United States War Savings Bonds, Series E, to the f a c t that no c r e d i t w i l l
be given f o r bonds sold by them during the Third War Loan Drive u n t i l the
stubs from such bonds have been returned to us and the proceeds thereof credited
by us t o the account of the Treasurer of the United S t a t e s . This principle
applies in respect of a l l agents, including those which pay the f u l l issue price
of bond stock at the time of r e q u i s i t i o n .
Accordingly, in order to assure that a l l sales of Series S bonds made
before the c l o s e o f the Drive at midnight on October 2 are included in the t o t a l s
f o r the Drive, issuing agents are urged to forward the stubs from such bonds to
us as soon as p o s s i b l e a f t e r the bonds have been issued.




FEDERAL RESERVE B N OF N W YORK,
A K
E
F i s c a l Agent of the United States,

'zlf?

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