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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal A g e n t of the United States
rCircular No. 3 0 3 9 1
U December 17, 1945 J

O F F E R I N G OF

% Percent Treasury Certificates of Indebtedness of Series A-1947
Dated and bearing interest f r o m January 1, 1946

Due January 1, 1947

IN EXCHANGE FOR

0.90 Percent Treasury Notes of Series G-1946, Maturing January 1, 1946
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 Vinson today announced the offering, through the Federal Reserve Banks,
of % percent Treasury Certificates of Indebtedness of Series A-1947, open on an exchange basis, par for
par, to holders of Treasury Notes of Series C-1946, maturing January 1, 1946. Cash subscriptions Avill
not be received.
The certificates now offered will be dated January 1, 1946, and will bear interest from that date at
the rate of seven-eighths of one percent per annum, payable semiannually on July 1, 1946, and January
1, 1947. They will mature January 1, 1947. They will be issued in bearer form only, in denominations
of $1,000, $5,000, $10,000, $100,000 and $1,000,000.
Pursuant to the provisions of the Public Debt A c t 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, and should be accompanied by a like face amount of the maturing notes.
Subject to the usual reservations, all subscriptions will be allotted in full.
The subscription books will close at the close of business "Wednesday, December 19, except f o r the
receipt of subscriptions f r o m holders of $100,000 or less of the maturing notes. The subscription books
will close f o r the receipt of subscriptions of the latter class at the close of business Saturday, December 22.
Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department, and
placed in the mail before midnight of the respective closing days, will be considered as having been
entered before the close of the subscription books.
There are now outstanding $3,415,821,000 of the Series C-1946 notes.

The terms of this offering are set forth in Treasury Department Circular No. 782, dated
December 17, 1945, 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. Cash subscriptions will not be received. Exchange 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.




ALLAN

SPROUL,

President.
(OVER)

UNITED STATES OF AMERICA
%

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 OP I N D E B T E D N E S S O F SERIES A-1947

Dated and bearing interest from January 1, 1946

Due January 1, 1947

r,
»V - , No. 782
t
Department Circular k 707

TREASURY

9 4S

D E P A R T M E N T ,'

O F F I C E OF T H E

BureauFofTheSpr«bHcDebt

SECRETARY,

Washington,
I.

OFFERING

OF

December

17, 1945.

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 f o r certificates of indebtedness of the
United States, designated % percent Treasury Certificates of Indebtedness of Series A-1947, in exchange for
Treasury Notes of Series C-1946, maturing January 1,1946.
II.

DESCRIPTION

OF

CERTIFICATES

1. The certificates will be dated January 1, 1946, and will bear interest f r o m that date at the rate of
% percent per annum, payable semiannually on July 1,1946, and January 1,1947. They will mature January
1, 1947, and will not be subject to call f o r 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.
in payment of taxes.

They will not be acceptable

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 f o r certificates allotted hereunder must be made on or before January 2,1946, or on
later allotment, and may be made only in Treasury Notes of Series C-1946, maturing January 1, 1946, which
will be accepted at par, and should accompany the subscription.
V.

GENERAL

PROVISIONS

1. A s 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 f o r 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.




FRED

M.

VINSON,

Secretary

of the

Treasury.

Subscriber's Reference N o .

Application Number

CA-N-1

U n i t e d States o f A m e r i c a 0.90 p e r c e n t T r e a s u r y Notes o f Series C - 1 9 4 6
m a t u r i n g J a n u a r y 1, 1 9 4 6 must b e t e n d e r e d in p a y m e n t f o r this subscription.
EXCHANGE

SUBSCRIPTION

UNITED STATES OF AMERICA % PERCENT T R E A S U R Y CERTIFICATES OF INDEBTEDNESS
OF

SERIES

A-1947,

DATED

JANUARY

1, 1946, DUE JANUARY

1, 1947

mportant
a full.

1.

Subject t o the reservations in Treasury Department Circular No. 7 8 2 , dated D e c e m b e r 17, 1945, all subscriptions will be allotted

2. C o u p o n s maturing January 1, 1 9 4 6 , should b e detached f r o m the notes of Series C - 1 9 4 6 which are tendered in payment
n d collected in the usual manner.
"'EDERAL R E S E R V E B A N K

OF N E W

YORK,

Fiscal Agent of the United States,
Government Bond Department—2nd Floor:

.1945

)EAR SIRS :

Subject to the provisions of Treasury Department Circular No. 782, dated December 17, 1945, the undersigned hereby
ubscribes f o r United States of America % percent Treasury Certificates of Indebtedness of Series A-1947 as stated below:

For own account

$

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

$

Total Subscription

$

nd tenders in payment therefor a like par amount of United States of America 0.90 percent Treasury Notes of Series C-1946,
aaturing January 1, 1946, as f o l l o w s :
.
,
„
To be delivered to you
m
T o b e . J l t \ d ? 7 ? f r o m
^ ,.
, ,
for our account by
delivered to
securities held b y y o u
ou herewith $
f o r our account
$
$

Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below:
DENOMINATIONS

Par Value

Pieces

$

•

1,000

1. Deliver over the counter to the undersigned

•

Leave Blank

2. Ship to the undersigned

•

10,000

4. Hold as collateral for W a r Loan deposits

•

5,000

3. H o l d in safekeeping (for member bank only)

•

5. Special instructions:

100,000
1,000,000
Total

IMPORTANT: No changes in delivery instructions will be accepted. A separate subscription must be submitted
or each group of securities as to which different delivery instructions are given.
T h e undersigned, if a bank o r trust c o m p a n y , hereby certifies that the securities which y o u are hereby o r hereafter instructed
o dispose of in the manner indicated in items n u m b e r e d 3 and 4 a b o v e are the sole p r o p e r t y of the undersigned.
(Fill in all required spaces before signing)

0

Application submitted b y .

SUBSCRIBER:

Please indicate if this is a confirmation.

(Please print)

YES.
NO...

By

(Title)

(Official signature required)

Street address
City, Town or Village, P . 0 . No., and State
Spaces b e l o w are f o r the use of the Federal Reserve Bank of N e w Y o r k
Delivery Receipt

Released
Taken from VaultCounted
Checked
Delivered




Securities
received b y -

Received

from

FEDERAL RESERVE B A N K

Subscriber.
Checked by-

OP N E W

YORK

the

above

United States Government obligations in the amount indicated above.

Date.

-

By

described

List of customers whose applications are included in the foregoing subscription

Amount Subscribed




Name of Customer
(Please print or use

typewriter)

Address

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