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 FISCAL AGENT O F THE UNITED STATES Dallas, Texas, July 17, 1958 PRELIMINARY ANNOUNCEMENT EXCHANGE OFFERING To all 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 the new exchange offering: “The Treasury Department announced today that subscription books will be opened on Monday, July 21, for refunding the Certificates of Indebtedness maturing August 1, and the two issues of Treasury bonds called for redemption on September 15. The exchange offering will consist of a new 1% percent Certificate of Indebtedness to be dated August 1, 1958, and to mature August 1, 1959. “Exchange will be made par for par in the case of the maturing certificates. In the case of the called bonds, interest at their respective rates will be allowed to September 15 and coupons due September 15, 1958, should be detached from the bonds when surrendered and cashed when due. All remaining coupons should be attached to the bonds when surrendered. Accrued interest on the new certificates from August 1 to September 15,1958 ($1.98709 per $1,000) should be paid with subscriptions where coupon bonds are to be exchanged. In the case of registered bonds, the accrued interest will be deducted from the checks in payment of final interest. “The subscription books will be open July 21 through July 23 for this exchange offering. Any subscription addressed to a Federal Reserve Bank or Branch, or to the Treasurer of the United States, and placed in the mail before midnight Wednesday, July 23, will be considered as timely. “The 2l^ percent and 2% percent bonds called for payment on September 15 which the holders do not elect to exchange for the new certificates will be paid on their due date. “The Treasury also announced that within the next three weeks it will offer for subscription a security due in a year or less to cover its cash requirements during the next couple of months. “The maturing issues are: 4 percent Certificates of Indebtedness dated August 1, 1957, due August 1, 1958 — $11,519 million 2l^ percent Bonds dated February 1, 1944, called for redemption September 15, 1958 — $3,818 million 2% percent Bonds dated March 1, 1952, called for redemption September 15, 1958 — $927 million.” Official circulars and subscription forms for the offering will be mailed to reach you by Monday, July 21. However, if the circulars and forms are not received in sufficient time, subscriptions may be entered by mail, telegraph or telephone, subject to confirmation with an official subscription blank. Yours very truly. Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)