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FEDERAL
OF

RESERVE
NEW

BANK

YORK

Fiscal Agent of the United States
/-Circular No. 2 8 4 3 "1
L. September 25, 1944 J

Offering of
% Percent Treasury Certificates of I n d e b t e d n e s s of Series G - 1 9 4 5
Dated and bearing interest from October 1, 1944

Due October 1, 1945

I n E x c h a n g e for
T r e a s u r y Certificates of I n d e b t e d n e s s of Series F - 1 9 4 4 , M a t u r i n g O c t o b e r 1, 1944

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

I n our Circular No. 2841, we sent y o u a copy of the following press statement which was
made public on September 20,1944:
Secretary of the Treasury Morgenthau today announced that on Monday, September 25th, an offering will be made, through the Federal Reserve Banks, of % percent Treasury Certificates of Indebtedness
of Series G-1945, open on an exchange basis, par for par, to holders of Treasury Certificates of Indebtedness of Series F-1944, maturing October 1, 1944. Cash subscriptions will not be received.
The certificates now offered will be dated October 1, 1944, and will bear interest from that date at
the rate of seven-eighths of one percent per annum, payable semiannually on April 1 and October 1,
1945. They will mature October 1, 1945. They will be issued in bearer form only, with two interest
coupons attached, in denominations of $1,000, $5,000, $10,000, $100,000 and $1,000,000.
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 to be released September 25.
Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury
Department, "Washington, and should be accompanied by a like face amount of the maturing certificates.
Subject to the usual reservations, all subscriptions will be allotted in full.
There are now outstanding $3,519,047,000 of the Series F-1944 certificates.
The text of the official circular will be made public on September 25th.
The terms of this offering are set f o r t h in Treasury Department Circular No. 752, dated
September 25, 1944, copy of which is printed on the reverse side.
The subscription books are now open and applications will be received b y this bank as
fiscal agent of the United States.

Cash subscriptions

will not be received.

Exchange subscrip-

tions should be made on official subscription blanks and mailed immediately or, if filed b y
telegram or letter, should be confirmed immediately by mail on the blanks provided.




ALLAN

SPROUL,

President.
(OVER)

UNITED STATES OF AMERICA
Ys PERCENT T R E A S U R Y CERTIFICATES OF INDEBTEDNESS OF SERIES G-1945
Dated and bearing interest from October 1., 1944

Due October 1, 1945

1944
Department Circular No. 752

TREASURY

DEPARTMENT,

O F F I C E OF T H E S E C R E T A K Y ,

Fiscal Service
Bureau of the Public Debt

Washington, September 25, 1944.
I.

OFFERING

OF

CERTIFICATES

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended,
invites subscriptions, at par, from the people of the United States for certificates of indebtedness of the United
States, designated % percent Treasury Certificates of Indebtedness of Series G-1945, in exchange for Treasury
Certificates of Indebtedness of Series F-1944, maturing October 1, 1944.
II.

DESCRIPTION

OF

CERTIFICATES

1. The certificates will be dated October 1, 1944, and will bear interest from that date at the rate of %
percent per annum, payable semiannually on April 1 and October 1, 1945. They will mature October 1, 1945,
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.
4. Bearer certificates with interest coupons attached will be issued in denominations of $1,000, $5,000,
$10,000, $100,000 and $1,000,000. 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.

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.
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, all
subscriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment.
IV.

PAYMENT

1. Payment at par for certificates allotted hereunder must be made on or before October 2, 1944, or on
later allotment, and may be made only in Treasury Certificates of Indebtedness of Series F-1944, maturing October 1, 1944, which will be accepted at par, and should accompany the subscription.
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 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, JR.,
Secretary of the Treasury.

Subscriber's Beference No.

Application Number

EACS

United States of A m e r i c a % percent Treasury Certificates of Indebtedness of Series
F - 1 9 4 4 maturing October 1, 1 9 4 4 must be tendered in payment for this subscription.

EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF A M E R I C A % PERCENT T R E A S U R Y CERTIFICATES OF

INDEBTEDNESS

OF SERIES G-1945
D A T E D O C T O B E R 1, 1944

D U E O C T O B E R 1, 1945

Important
1. Subject to the reservations in Treasury Department Circular No. 752, dated September 25, 1944, all subscriptions will be
allotted in full.
2. Coupons maturing October 1, 1944, should be detached from the certificates of Series F-1944 which are tendered in payment and collected in the usual manner.

FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States,
Government Bond Department—2nd Floor,
Dated at
Federal Reserve P. 0 . Station, New York 7, N. Y.
.1944
DEAR SIRS :

Subject to the provisions of Treasury Department Circular No. 752, dated September 25, 1944, the undersigned hereby
subscribes for United States of America % percent Treasury Certificates of Indebtedness of Series G-1945 as stated below:
For own account

$

For our customers (for use of banking institutions) as shown on reverse side of this form

$

Total Subscription

$

and tenders in payment therefor a like par amount of United States of America % percent Treasury Certificates of
Indebtedness of Series F-1944, maturing October 1, 1944, as follows:
„
To be delivered to you
T o b e withdrawn from
„ ,.
,
for our aceount by
Delivered to
securities held by you
you herewith $
for our account
$
$
Issue and dispose of United States of America % percent Treasury Certificates of Indebtedness of Series G-1945 allotted
on this subscription in the denominations and amounts as indicated below:
DENOMINATIONS
Par Value

Pieces

$

Leave Blank

1,000

•

1. Deliver over the counter to the undersigned

•

2. Ship to the undersigned

•

3. Hold in safekeeping (for member bank only)

5,000

•

4. Hold as collateral for War Loan deposits

10,000

•

5. Special instructions:

100,000
1,000,000
Total
IMPORTANT: No changes in delivery instructions will be accepted. A separate subscription must be submitted
for each group of securities as to which different delivery instructions are given.
T h e undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed
to dispose of in the manner indicated in items numbered 3 and 4 a b o v e are the sole property of the undersigned.
(Fill in all required spaces before signing)
Application submitted by
TO SUBSCRIBER:
Please indicate if this is a confirmation.

(Please print)

YESNO....

>

By

(Title)

(Official signature required)

Street address
City, Town or Village, P. O. No., and State.
Spaces below are f o r the use of the Federal Reserve Bank of New York
Released
Taken from VaultCounted
Checked
Delivered




Delivery Receipt
Securities
received by-

Received from FEDERAL RESERVE BANK OF NEW YORK the above described
United States Government obligations in tho amount indicated above.
Subscriber.

Checked by-

Date.

By.

List of customers whose applications are included in the foregoing subscription

Amount Subscribed




Name of Customer
(Please print or use

typewriter)

Address

FEDERAL RESERVE
OF NEW

BANK

YORK

September 23, 1944.

REGULATION W
Disaster Credits

To all Registered Lenders and Contractors under
Regulation W in Long Island, New York, and Others

Concerned:

Under the authority of section 8(h) of Regulation W, as amended, this
bank finds that the hurricane of September 14-15, 1944, has created an
emergency affecting a substantial number of the inhabitants of Long Island,
New York. Accordingly, any extension of credit to finance the repair or
replacement of real or personal property in Long Island damaged or lost
as a result of the hurricane is exempt from compliance with the provisions
of the Regulation.

This exemption does not apply to any extension of

credit other than that which may be attributed directly to the repair or
replacement of property damaged or lost as a result of the hurricane.
In order to establish the exempt status of each such extension of credit,
it is suggested that Registrants retain in their files a statement by the
obligor clearly setting forth the facts in the matter or that they make some
other appropriate record showing the exempt status of the credit.




ALLAN

SPROUL,

President.

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