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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, February 3, 1961

OFFERING OF NOTES

To All Banking Institutions and Others Concerned
in the Eleventh Federal Reserve District:
Enclosed is Treasury Department Circular No. 1057 governing the offering of 3 lA percent Treasury
Notes of Series G-1962, dated February 15, 1961, due August 15, 1962.
SECURITIES OFFERED

3V4 PERCENT TREASURY NOTES OF SERIES G-1962
PAYMENT

B y cash, or by the following securities:

4% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES A-1961
The new issue may not be paid for by credit in Treasury Tax and Loan accounts.
SURRENDER OF MATURING SECURITIES

Securities to be applied in payment, in whole or in part, of subscriptions may be forwarded to this
bank with the subscriptions; and, unless otherwise instructed, any excess over the amount of new securities
allotted will be handled by this bank for cash redemption at maturity. If subscribers contemplate dispo­
sition of any excess over allotments by means other than redemption by this bank at maturity, all of the
securities should be held by the commercial banks until after allotment. This is important since, under
Treasury regulations, the return of any securities would be at the risk and expense of the owner.
DOWN PAYMENTS

Down payments of not less than 2 percent of the amount of notes applied for (in the form of cash
or securities of the eligible issue) are required of all subscribers, except those specifically exempted in
Section I I I of the offering circular. Down payments received by commercial banks from subscribers should
be held by commercial banks until after allotment is made. Eligible securities held by other subscribers
may be forwarded to this bank with subscriptions, provided any unused portion is to be redeemed b y this
bank at maturity.
ALLOTMENTS

Allotments will be made in accordance with Section III of the official circular. It will be noted that
subject to the usual reservations, all subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international organizations in which the
United States holds membership, foreign central banks and foreign States, dealers who make primary
markets in Government securities and report daily to the Federal Reserve Bank of New York their
positions with respect to Government securities and borrowings thereon, Government Investment Accounts,
and the Federal Reserve banks will be allotted in full. Allotment notices will be sent out by this bank
upon notification by the Treasury.

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

SUBSCRIPTIONS HANDLED THROUGH OUT-OF-DISTRICT CORRESPONDENT BANKS

Commercial banks are urged to enter subscriptions for their own account and for account of their
customers with the Federal Reserve bank or branch in the district in which they are located. However,
where their maturing securities are held with correspondent banks in other districts and it is desired to
enter subscriptions through such correspondents, subscribing banks are requested to list separately by
name the subscriptions for their own account and for each o f their customers.
In consideration of the acceptance of such subscriptions entered through correspondent banks, the
subscribing banks agree that by their action they certify that they have no beneficial interest in any
subscriptions they enter for the account of their customers, and that their customers have no beneficial
interest in the banks’ subscriptions for their own account; that the subscriptions for their own account
do not exceed the prescribed limitations; and that the subscribing banks and their customers have agreed
not to purchase or sell, or to make any agreements with respect to the purchase or sale or other disposition
of any notes subscribed for until after midnight February 6, 1961.
GENERAL INFORMATION

All coupons should be detached from 4 % percent Treasury Certificates of Indebtedness of Series
A-1961.
A form for furnishing delivery instructions and denominations o f securities desired will be forwarded
promptly upon allotment
The subscription books will be open only on Monday, February 6, 1961. Payment for the securities
must be made on or before February 15, 1961. Subscriptions will be received at this bank and its branches
at El Paso, Houston and San Antonio, and should be submitted on the enclosed forms. Additional
circulars and forms will be forwarded upon request
CLOSING OF SUBSCRIPTION BOOKS

Subscription books will close at the close of business, Monday, February 6. No further closing

announcement will be made.

Subscriptions addressed to a Federal Reserve bank or branch or to the Treasury Department and
placed in the mail before midnight, February 6, will be considered as having been entered before the close
of the subscription books.
Yours very truly,
Watrous H. Irons
President

UNITED STATES OF AMERICA
THREE AN D ONE-FOURTH PERCENT TREASURY NOTES OF SERIES G-1962
Dated and bearing interest from February 15, 1961
1961
Department Circular No. 1057
~
~
—
Fiscal Service
Bureau of the Public Debt

Due August 15, 1962
TREASURY DEPARTM ENT
Office o f the Secretary
Washington, February 6, 1961

I. OFFERING OF NOTES
1.
The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as
amended, invites subscriptions, subject to allotment, at par and accrued interest, from the people of the
United States for notes of the United States, designated 3V* percent Treasury Notes of Series G-1962. The
amount of the offering under this circular is $6,900,000,000, or thereabouts. Treasury Certificates of
Indebtedness of Series A-1961, maturing February 15, 1961, will be accepted at par in payment or exchange,
in whole or in part, for the notes subscribed for, to the extent such subscriptions are allotted by the Treasury,
The books will be open only on February 6, 1961, for the receipt of subscriptions for this issue.

II. DESCRIPTION OF NOTES
1. The notes will be dated February 15, 1961, and will bear interest from that date at the rate of

3V4 percent per annum, payable semiannually on August 15, 1961, and February 15 and August 15, 1962.
They will mature August 15, 1962, and will not be subject to call for redemption prior to maturity.
2. The income derived from the notes is subject to all taxes imposed under the Internal Revenue
Code of 1954. The notes are subject to estate, inheritance, gift or other excise taxes, whether Federal or
State, but are 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 notes will be acceptable to secure deposits of public moneys. They will not be acceptable in
payment of taxes.
4. Bearer notes with interest coupons attached, and notes registered as to principal and interest, will
be issued in denominations of $1,000, $5,000, $10,000, $100,000, $1,000,000, $100,000,000 and $500,000,000.
Provision will be made for the interchange of notes of different denominations and of coupon and regis­
tered notes, and for the transfer of registered notes, under rules and regulations prescribed by the Secretary
of the Treasury.
5. The notes will be subject to the general regulations of the Treasury Department, now or hereafter
prescribed, governing United States notes.

III. SUBSCRIPTION AND ALLOTMENT
1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Office of the
Treasurer of the United States, Washington. Only the Federal Reserve Banks and the Treasury Depart­
ment are authorized to act as official agencies. Commercial banks, which for this purpose are defined as
banks accepting demand deposits, may submit subscriptions for account of customers provided the names
of the customers are set forth in such subscriptions. Others than commercial banks will not be permitted
to enter subscriptions except for their own account. Subscriptions from commercial banks for their own
account will be restricted in each case to an amount not exceeding 50 percent of the combined capital,
surplus and undivided profits of the subscribing bank. Subscriptions will be received without deposit from
commercial and other banks for their own account, Federally-insured savings and loan associations, States,
political subdivisions or instrumentalities thereof, public pension and retirement and other public funds,
international organizations in which the United States holds membership, foreign central banks and
foreign States, dealers who make primary markets in Government securities and report daily to the
Federal Reserve Bank of New York their positions with respect to Government securities and borrowings
thereon, Government Investment Accounts, and the Federal Reserve Banks. Subscriptions from all others
must be accompanied by payment (in cash or in Treasury Certificates of Indebtedness of Series A-1961,
maturing February 15, 1961, at par) of 2 percent of the amount of notes applied for, not subject to with­
drawal until after allotment. Following allotment, any portion of the 2 percent payment in excess of
2 percent of the amount of notes allotted may be released upon the request of the subscribers.
2. All subscribers are required to agree not to purchase or to sell, or to make any agreements with
respect to the purchase or sale or other disposition of any notes of this issue, until after midnight February
6, 1961.

3. Commercial banks in submitting subscriptions will be required to certify that they have no bene­
ficial interest in any of the subscriptions they enter for the account of their customers, and that their cus­
tomers have no beneficial interest in the banks’ subscriptions for their own account
4. The Secretary of the Treasury reserves the right to reject or reduce any subscription, to allot less
than the amount of notes applied for, and to make different percentage allotments to various classes
of subscribers; and any action he may take in these respects shall be final. Subject to these reservations,
all subscriptions from States, political subdivisions or instrumentalities thereof, public pension and retire­
ment and other public funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government Investment Accounts, and the Federal Reserve Banks
will be allotted in full. The basis of the allotment will be publicly announced, and allotment notices will
be sent out promptly upon allotment

IV. PAYMENT
1. Payment at par and accrued interest, if any, for notes allotted hereunder must be made or com­
pleted on or before February 15, 1961, or on later allotment In every case where payment is not so com­
pleted, the payment with application up to 2 percent of the amount of notes allotted shall, upon declaration
made by the Secretary of the Treasury in his discretion, be forfeited to the United States. Payment may
be made for any notes allotted hereunder in cash or by exchange of Treasury Certificates of Indebtedness
of Series A-1961, maturing February 15, 1961, which will be accepted at par. Where payment is made
with Treasury Certificates of Indebtedness of Series A-1961, coupons dated February 15, 1961, should be
detached from such certificates by holders and cashed when due.

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 notes allotted, to make delivery of notes on full-paid subscriptions allotted, and they may
issue interim receipts pending delivery o f the definitive notes.
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.
DOUGLAS DILLON,
Secretary o f the Treasury.

CASH SUBSCRIPTION
3 % % Treasury N otes o f Series G-1962

DEPOSITS R E Q U IR E D ON SUBSCRIPTION S E N T E R E D THROUGH COM M ERCIAL B A N K S SHOULD BE R E T A IN E D B Y TH E COM M ERCIAL B A N K S.

Dated February 15, 1961

Due August 15, 1962

T o: Federal Reserve Bank, Station K, Dallas, Texas
or—
The..........................................— ............................................... Branch
El Paso
Houston
San Antonio
LIST A LL SUBSCRIPTIONS ON REVERSE SIDE
EACH SUBSCRIPTION TO THIS ISSUE MUST BE IN A MULTIPLE OF $1,000

All subscriptions except those specifically exempted in Section III o f the official circular, must be accompanied by the deposit
o f cash, or 4 % % Treasury Certificates o f Indebtedness, Series A-1961 in the amount of not less than 2% o f the amount o f securities
applied for. In the cases of subscriptions entered through commercial banks the deposits should be retained by the bank entering the sub­
scriptions until allotment has been made and final payment is completed. All other required deposits must accompany this subscription.

Pursuant to the provisions o f Treasury Department Circular No. 1057, dated February 6, 1961, the undersigned hereby sub­
scribes for $.................... ...........................3
Treasury Notes o f Series G-1962, dated February 15, 1961, maturing August 15, 1962,
and will make payment by one or by a combination o f the following methods as indicated:
Cash (Payable in available funds not later than February 15, 1961)
□ By charge to our reserve a c c o u n t........................................................................................................................ $
□ O t h e r w is e .................................................................................................................................................................$Tender o f 4% % Treasury Certificates o f Indebtedness, Series A-1961, maturing February 15, 1961.
(A L L COUPONS D E T A C H E D )................................................................................................................... I

Amount

CLASS OF SUBSCRIPTION
Form fo r furnishing DELIVERY INSTRUC­
TIONS and DENOMINATIONS o f securities
desired will accompany NOTICE OF ALLOT­
MENT:

Our own subscription

$

.

(List again on reverse)

■

-

?---------------

Customers subscriptions
(Show in schedule on reverse )

TOTAL.

. $---------------

.

A ll deposits received by the subscribing bank for the account of its customers should be retained by the subscribing bank until
after allotment has been made and final payment is completed.
CERTIFICATION B Y COMMERCIAL BANKS
We hereby certify that we have received applications from our customers in the amounts set opposite the customers’ names pn
the list which is made a part of this subscription; that there has been paid to us by each such customer as required by official
offering circular, not subject to withdrawal until after allotment, not less than 2% of the amount applied for; that we have
not made unsecured loans, or loans collateralized in whole or in part by the securities applied for, to supply the amounts of such
payments to any of such customers; that we have no beneficial interest in the applications of such customers, and that none of our
customers has any beneficial interest in the amount subscribed for our own account.
W e further certify that the subscription for our own account does not exceed 59 percent of our combined capital, surplus and
undivided profits.
W e further certify that all subscribers listed hereon have agreed not to purchase or to sell, or to make any agreements with
respect to the purchase or sale or other disposition of any securities of this issue, until after midnight, February 6, 1961.

□ This is an original subscription

□ This is a confirmation

Time Stamp
For use o f Federal Reserve Bank

(Name of subscriber)

By.....................................................................................
(Authorized signature)

(Address)

Dated.
PLEASE FILL IN TH E FORM BELOW WHICH W IL L BE RETURNED TO YOU A S A N ACKNOW LEDGM ENT OF
YOUR SUBSCRIPTION
(OVER)

This acknowledges your subscription for $ .............................
3 * 4 % Treasury Notes of Series G-1962, maturing August
16,1962.

F.R.B. Subscription No.
IMPORTANT — Please use the above number in all
matters — whether paym ent or correspondence —
relating to this subscription.

M A IL
TO

The Federal Reserve Bank or Branch will
acknowledge by stamping below.

Name

Address

Please list name and address of each subscriber, indicating by number in the first column the class of investor, in accordance with
the schedule below:

INVESTOR CLASSES AND NUMBERS
1.
2.
3.
4.
5.

Individuals, partnerships, and personal trust accounts
Mutual savings banks
Insurance companies
Dealers and brokers
Pension and retirement funds of State and local governments

6. Other pension and retirement funds
7. State and local government funds other than pension and
retirement
8. Commercial banks
9. Corporations other than banks and insurance companies
10. A ll others

LIST OF SUBSCRIBERS
In v e sto r
C lo ss

8

N A M E OF SUBSCRIBER

AMOUNT

ADD R E SS

Bank’s own subscription

•J

l

7?'

DO NOT U SE

‘

TO T AL $

LIST OF SECU RITIES TO BE A P P L IE D IN P A Y M E N T OF TH IS SU BSCRIPTION
LOCATION OP SECURITIES........................................................
4 % % TR EASU RY CERTIFICATES OF INDEBTEDNESS, SERIES A-1961, M ATURING FEBRUARY 15, 1961
(COUPONS SHOULD BE DETACHED)
No. Pieces

Denomination

Serial Nos.

Amount

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