The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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.