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

Dallas, Texas, November 5, 1952

PRELIMINARY ANNOUNCEMENT
TAX ANTICIPATION SERIES-TREASURY BILLS

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

There is quoted below a press statement issued today by the Treasury Department
in regard to a special offering of Treasury bills:
“ Secretary of the Treasury Snyder announced today that tenders will be
accepted on November 13, 1952, of bids to an issue of 210-Day Treasury Bills in
the amount of $2,000,000,000, to be dated November 21, 1952, and to mature on
June 19, 1953. These bills will be designated ‘Tax Anticipation Series’ and will be
acceptable at face value in payment of income and profits taxes due on June 15,
1953. Payment for such bills will be made in cash on the date of issue, except that
any qualified depositary may make payment by credit in its Treasury Tax and
Loan Account for Treasury Bills allotted to it for itself and its customers up to
any amount for which it shall be qualified in excess of existing deposits. Formal
invitation for tenders will be issued on November 7, 1952.
“ These bills are being isued to meet anticipated cash requirements of the
Treasury; and to the extent that they are not presented in payment of income
and profits taxes due on June 15, 1953, they will be paid in cash at maturity.
“ This offering is being made pursuant to Secretary Snyder’s statement of
September 24, 1952, at which time the Secretary stated that the Treasury antici­
pated that further tax bills would be offered later in the year.”
The formal invitation for tenders and forms will be placed in the mail as soon as avail­
able so as to reach all banking institutions in time for tenders to be submitted by Novem­
ber 13, the date on which they will be accepted.
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)


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