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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?