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F ederal reserve bank of Dallas
F IS C A L A G E N T O F T H E U NITED S T A T E S

DALLAS, TEXAS

75222
Circular No. 72-233
October 13,1972

NEW OFFERING — TREASURY BILLS
To All B a n k in g Institutions a n d O th e rs C o n c e r n e d
in t h e E leventh F e d e r a l R e se rv e District:
Y our a t t e n t i o n is inv ited to th e f o llo w in g s t a t e m e n t g iv in g d e t a il s of tw o issu es of T re as u ry bills:
T h e T rea su ry D e p a r tm e n t, b y th is p u b lic n o tic e, in v ite s ten d e rs for tw o series o f T rea su ry b ills to t h e a g g reg ate a m o u n t
o f $ 4 ,1 0 0 ,0 0 0 ,0 0 0 , or therea b ou ts, for cash an d in ex ch a n g e for T rea su ry b ills m a tu rin g O ctob er 26, 1972, in th e a m o u n t of
$ 4 ,1 0 1 ,7 1 0 ,0 0 0 , a s follow s:
9 1 - D A Y B I L L S ( to m a tu rity d a te ) t o b e issu ed O cto b er 26, 197 2, in th e a m o u n t o f $ 2 ,3 0 0 ,0 0 0 ,0 0 0 , or th e re­
ab o u ts, rep resen tin g an a d d itio n a l a m o u n t o f b ills d a ted J u ly 27, 1972, and to m atu re Jan u a ry 25, 1973
( C U S I P N o. 9 1 2 7 9 3 Q C 3 ) , o rig in a lly issu ed in th e a m o u n t o f $ 1 ,8 0 0 ,4 0 0 ,0 0 0 , th e a d d itio n a l and orig in a l b ills
to b e fr e e ly in terch an g eab le.
1 8 2 -D A Y B I L L S for $ 1 ,8 0 0 ,0 0 0 ,0 0 0 , or therea b o u ts, to b e d a ted O ctob er 26 , 1972, an d to m atu re A p ril 26, 1973
( C U S I P N o. 9 1 2 7 9 3 Q R 0 ) .
T h e b ills o f b o th series w ill b e issu ed on a d isco u n t b a sis und er c o m p e titiv e and n o n c o m p e titiv e b id d in g a s h erein after
p ro vid ed , and a t m a tu rity their fa c e a m o u n t w ill b e p a y a b le w ith o u t in terest. T h e y w ill b e issu ed in b earer form o n ly , and in
d en o m in a tio n s o f $ 1 0 ,0 0 0 , $ 1 5 ,0 0 0 , $ 5 0 ,0 0 0 , $ 1 0 0 ,0 0 0 , $ 5 0 0 ,0 0 0 an d $ 1 ,0 0 0 ,0 0 0 (m a tu r ity v a lu e ) .
T e n d e r s w ill b e rece iv ed a t F e d e r a l R e s e r v e B a n k s an d B ra n ch es u p to th e clo sin g hour, o n e-th irty p.m ., E a stern
D a y lig h t S a v in g T im e , F riday, O cto b er 20, 1972. T e n d er s w ill n ot b e rece iv ed a t th e T rea su ry D e p a r tm e n t, W a sh in gton . E a ch
ten d e r m u s t b e for a m in im u m o f $ 1 0 ,0 0 0 . T e n d e r s ov er $ 1 0 ,0 0 0 m u st b e in m u ltip le s o f $ 5,0 00 . In th e case o f c o m p e titiv e
ten d e rs t h e p rice offered m u s t b e exp ressed o n th e b a sis o f 100, w ith n o t m ore th a n th r ee d ecim als, e.g., 9 9 .9 2 5 . F ra ctio n s m a y
n ot b e used . It is urged th a t ten d ers b e m a d e o n t h e p rin ted fo rm s and forw ard ed in th e sp ec ia l e n v e lo p e s w h ich w ill be
su p p lied b y F ed era l R e s e r v e B a n k s or B ra n c h e s on a p p lica tio n therefor.
B a n k in g in stitu tio n s g en era lly m a y su b m it ten d e rs for a ccou n t o f cu sto m ers p ro v id ed th e n a m e s o f th e cu sto m ers are
se t forth in such tenders. O ther th a n b a n k in g in stitu tio n s w ill n ot b e p er m itte d to su b m it ten d ers e x c e p t for th eir ow n account.
T e n d er s w ill b e rece iv ed w ith o u t d ep o sit from in corp orated b an k s an d tru st co m p a n ie s an d from resp o n sib le an d recogn ized
dealers in in v e stm e n t secu rities. T e n d er s from o th ers m u s t b e a cco m p a n ied b y p a y m e n t o f 2 p er c e n t o f th e fa ce a m o u n t o f
T r ea su ry b ills a p p lie d for, u n less th e ten d e rs are a cco m p a n ied b y an exp ress gu aran ty o f p a y m e n t b y a n incorp orated bank or
tru st co m p a n y.
Im m e d ia te ly a fter t h e clo sin g hour, ten d e rs w ill b e o p en ed a t th e F ed e r a l R e s e r v e B a n k s an d B ra n ch es, fo llo w in g w h ich
p u b lic a n n o u n c em en t w ill b e m a d e b y t h e T rea su ry D e p a r tm e n t o f th e a m o u n t and p rice range of a cc e p te d bids. O n ly th o se
su b m ittin g c o m p e titiv e ten d ers w ill b e a d v ise d o f t h e a ccep ta n ce or rejection th ereof. T h e S ecreta ry o f th e T rea su ry ex p ressly
reserv es th e righ t t o a c c e p t or reject a n y or a ll ten d ers, in w h o le or in part, and h is a ctio n in a n y such resp ect sh all b e final. S u b ­
je c t to th e se reservations, n o n c o m p e titiv e ten d e rs for each issu e for $ 2 0 0 ,0 0 0 or less w ith o u t sta ted p rice from a n y o n e b id d er w ill
b e a c c e p te d in fu ll at t h e a verag e p rice ( in th r ee d e c im a ls) o f a cc e p te d c o m p e titiv e b id s for t h e r e s p ectiv e issues. S e ttle m e n t for
a c c e p te d ten d ers in accord an ce w ith th e b id s m u s t b e m a d e or co m p le te d a t th e F ed era l R e s e r v e B a n k on O ctob er 26, 1972,
in ca sh or oth er im m e d ia te ly a v a ila b le fu n d s or in a lik e fa c e a m o u n t o f T reasu ry b ills m a tu rin g O ctob er 26, 1972. C ash and
ex ch a n g e ten d e rs w ill r e c e iv e eq u al trea tm en t. C ash a d ju stm en ts w ill be m a d e for d ifferen ces b e tw e e n t h e par v a lu e o f m atu rin g
b ills a c c e p te d in ex ch a n g e an d t h e issu e p rice o f th e n ew b ills.
U n d er S e c tio n s 4 5 4 ( b ) and 1221 ( 5 ) o f t h e In tern a l R e v e n u e C o d e o f 1 9 5 4 t h e a m o u n t o f d isco u n t a t w h ich b ills issu ed
h ereu n d er are sold is con sid ered to accrue w h en th e b ills are sold, red eem ed or o th erw ise d isp osed of, an d t h e b ills are ex clu d ed
from co n sid er a tio n as ca p ita l assets. A cco rd in g ly , th e ow n er o f T rea su ry b ills (o th e r th a n life in su ran ce c o m p a n ie s) issu ed h ere­
u n d er m u st in clu d e in h is in co m e ta x return, a s ord inary g ain or loss, th e d ifferen ce b etw een th e p rice p a id for th e b ills, w h eth er
o n orig in al issu e or on su b seq u e n t p urchase, an d th e a m o u n t a ctu a lly rece iv ed eith er u p on sale or r ed em p tio n a t m a tu r ity during
th e ta x a b le y e a r fo r w h ich th e retu rn is m ade.
T r ea su ry D e p a r tm e n t Circular N o. 4 1 8 (cu rren t r e v is io n ) an d th is n o tic e, p rescrib e t h e term s o f th e T rea su ry b ills an d
go v ern th e co n d itio n s o f their issue. C o p ies o f t h e circular m a y b e o b ta in ed from a n y F e d e r a l R e s e r v e B a n k or B ranch.

In a c c o r d a n c e w ith t h e a b o v e a n n o u n c e m e n t , te n d e r s w ill b e r e c e iv e d a t this b a n k a n d its b r a n c h e s a t El P aso,
Houston a n d San A n to n io u p to tw e lv e - th ir ty p .m .. C e n tral D aylig h t S av ing Time, Friday, O c to b e r 20, 1972. T enders
m ay not b e en tered b y te lep h o n e.
Y ours v e r y truly,
P. E. C oldw e ll
P re sid e n t

Fig u re s c o n c e r n i n g
April 1 9 ,

1973,

o f f e r i n g o f 9 1 - D a y T r e a s u r y Bills m a t u r i n g J a n u a r y

18, 1 9 7 3 , a n d

1 8 2 - D a y T r e a s u r y Bills m a t u ri n g

n o t a v a i l a b l e w h e n th is c i r c u l a r w a s p r i n t e d .

(See reverse for tender form )

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

TENDER FOR ADDITION TO TREASURY BILLS

91 DAYS TO MATURITY
Dated July 27,1972

Maturing January 25 ,1 9 7 3

To: Federal Reserve Bank, Station K, Dallas, T exas 75222
or —
The-----------------------------------------Branch
El Paso 79999 Houston 77001

San Antonio 78295

(D ate)

Pursuant to the provisions of Treasury Department Circular No. 418 (current revision) and the provisions of the
public announcement issued by the Treasury Department, the undersigned offers to purchase Treasury bills in the amount
shown below, and agrees to pay for the amount allotted, on or before the issue date, by the method and at the rate indicated.

NONCOMPETITIVE T E N D E R $_______________________________________

-NOT TO E X C E E D $200,000

20, 1972

Noncompetitive tenders for $200,000 or less from any one bidder, without stated price, will be accepted in full at the average
price (in three decimals) of accepted competitive bids.

CLOSING DATE — FRIDAY, OCTOBER

$

J

$
$

@
@

$

TENDERS MAY NOT BE ACCEPTED BY TELEPHONE. TENDERS BY WIRE, IF RECEIVED BEFORE THE
CLOSING HOUR ARE ACCEPTABLE.

15,000 $.

Payment for this issue of bills cannot be made by
credit to Treasury Tax and Loan Account.
METHOD OF PAYMENT
□ B y m a tu r in g bills
held by_________________________________

50,000 $.

□

P a y m e n t to be m ad e b y ________________

@ ? 100,000 $.

□

C harge our re ser v e account on p a y m e n t
date

[__|

D r a f t e n c l o s e d ( E ff e c tu a l d e liv e ry o f enclo sed d r a f t
s h a l l b e o n l a t e s t d a y w h i c h w i l l p e r m i t p r e s e n t m e n t in
o r d e r to o b t a i n i r r e v o c a b l y colle c te d f u n d s on p a y m e n t
d ate)

Denominations Desired
N u m b e r of
pieces

M a tu r ity V alue

@ ?
(a) $

10,000 $.

@ $ 500,000 ?.
@ $1,000,000 $.
D e liv e ry In str u c tio n s:
□

PLEASE OBSERVE

(n
@

$

COMPETITIVE T E N D E R S

Prices should be
ex p ressed on th e
basis of 100, with
not more than three
decimal places, e.g.,
99.925. F ra c tio n s
must not be used.

□

P led g e to secu re T rea su ry T a x and
Loan A cco u n t

□

( S u b s c r i b e r ’s f u l l n a m e o r c o r p o r a t e t i t l e )

Hold in C ustody A ccou n t— M em ber
b anks fo r ow n account only

Ship to----------------------------------------------

(A ddress)

By( A u t h o r i z e d of fi c ia l s i g n a t u r e a n d t i t l e )

( F o r t h e a c c o u n t o f , i f t e n d e r is f o r a n o t h e r s u b s c r i b e r )

(A ddress)

IMPORTANT
1. No tender for less than $10,000 will be considered and each tender over $10,000 must be for an amount in multiples of
$5,000 (m aturity value).
2. Tenders should be forwarded in an envelope clearly addressed to this bank or appropriate branch as Fiscal Agent of the
United States, with notation on the envelope reading “TENDER FOR TREASURY OFFERING”. Since envelopes
received with this legend will not be opened until a fter the closing time specified in the public announcement, communi­
cations relating to other m atters should not be enclosed. Envelopes for submitting tenders may be obtained from this
bank or appropriate branch.
3. Any qualified or conditional tender will he rejected.
4. If a corporation makes the tender, the form should be signed by an officer of the corporation authorized to make the
tender and the signing of the form by an officer of the corporation will be construed as a representation by him th a t he
has been so authorized. If the tender is made by a partnership it should be signed by a member of the firm, who
should sign in the form “.__________________________, a copartnership, by_________________________________________ ,t
a member of the firm.”
5. Tenders from those other than incorporated banks and trust companies or responsible and recognized dealers in invest­
ment securities will be disregarded, unless accompanied by a deposit of 2 percent of the total amount (m aturity value)
of the Treasury bills applied for, or unless the tenders are accompanied by an express guaranty of full payment by an
incorporated bank or tru st company.
6. If the language of this form is changed in any respect, which, in the opinion of the Secretary of the Treasury is
material, the tender may be disregarded
(See reverse for announcement)

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