View PDF

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

FEDERAL RESERVE BANK OF DALLAS
F IS C A L A G E N T O F T H E U N ITE D S T A T E S

Dallas, Texas, January 12,1946

MATURING UNITED STATES SAVINGS BONDS OF SERIES B

To All Banking Institutions, and Others Concerned,
in the Eleventh Federal Reserve District:

There is reproduced on the reverse side of this letter a press statement released yes­
terday by Secretary of the Treasury Vinson.
It will be observed that the investment in savings bonds of the proceeds of sav­
ings bonds of Series B maturing January, 1946, and thereafter is subject to the limita­
tion currently prescribed on holdings of Series E, F and G savings bonds. The limitation on
holdings of Series E bonds as prescribed by the Secretary of the Treasury is $5,000 (matu­
rity value) for each calendar year. However, bonds registered in coownership form may be
applied to the holdings of either coowner or may be apportioned between them, but will
not be applied to the holdings of both coowners. Accordingly, two individuals may be
named coowners on $10,000 (maturity value) of Series E bonds each calendar year pro­
vided neither coowner owns other Series E bonds of the same year of issue or is named
coowner of other Series E bonds which are applied to his holdings for the same calendar
year. An additional $5,000 (maturity value) may be added for each additional coowner
under the same condition.
The amount of United States Savings Bonds of Series F, or of Series G, or the com­
bined aggregate amount of both series originally issued during any one calendar year to
any one person, including those registered in the name of that person alone, and those
registered in the name of that person with another named as coowner, that may be held
by that person at any one time shall not exceed $100,000 (issue price).
The Treasury Department has made special provision for servicemen now serving
overseas or who although in the United States are not in a position to purchase Series E,
F or G bonds with the proceeds of maturing Series B bonds in the month in which they
mature. Detailed information in this connection will be furnished by this bank or its
branches upon request.
Attention of paying agents is called to current Treasury Department regulations
which provide that they may make payment of bonds of Series A, B, C, D and E to natural
persons only. Bonds of Series A, B, C and D which are inscribed in forms of registration
other than to an individual (authorized prior to April 1, 1940) should, after proper certi­
fication of the request for payment, be forwarded to this bank or the appropriate branch
for payment direct to the registrant entitled.

Yours very truly,
R. R. GILBERT
President

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

PRESS STATEMENT

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, January 11,1946
Secretary of the Treasury Vinson today announced that United States Savings Bonds
of Series B, which will be due for payment during 1946, will be paid at their face or denomi­
national value as they mature ten years from their issue date, on presentation in accord­
ance with the applicable regulations to any Federal Reserve bank or branch, the Treasurer
of the United States, Washington 25, D. C., or to any qualified paying agent.
The bonds do not increase in value after maturity and individuals who wish to con­
tinue their investment in similar bonds without interruption, such as United States Sav­
ings Bonds of Series E, F or G, should present their matured bonds for payment in the
month of maturity and ask that the proceeds thereof be applied to the purchase of United
States Savings Bonds of Series E, F or G.
Bonds of Series E, F or G purchased with the proceeds of matured bonds of Series B
will be issued in any form of registration authorized for bonds of the respective series,
will be subject to the limitation on holdings applicable thereto, and will be dated as of the
first day of the month in which the matured bonds are presented for payment. Any differ­
ence between the redemption value of the matured bonds and the purchase price of bonds
of Series E, F or G will be paid to the owner of the bonds presented.
Close relatives having possession of maturing bonds of Series B belonging to service­
men abroad are authorized to redeem such bonds for the purpose of purchasing bonds of
Series E, F or G for the servicemen. Full instructions regarding procedure in any such
case will be given on application to any Federal Reserve bank or branch.
The original issues of Series B during 1936 aggregated $493,075,050, maturity value,
for which cash amounting to $369,806,287.50 was received into the Treasury. About 70
per cent of the bonds originally issued remain outstanding at this time.

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