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FEDERAL RESERVE BANK OF DALLAS
FISCAL. A G E N T O F T H E U N ITE D ST A T E S

Dallas, Texas, June 5, 1958

ALLOTMENT ANNOUNCEMENT
3!4 PERCENT TREASURY BONDS OF 1985

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
announcing the basis o f allotment on cash subscriptions for the current offering of 314
percent Treasury Bonds of 1985:
“ The Treasury today announced a 60 percent allotment to savings-type
investors, a 40 percent allotment to commercial banks for their own account,
and a 25 percent allotment to all other subscribers for the current cash offering
of $1 billion, or thereabouts, of 314 percent Treasury Bonds of 1985. Subscrip­
tions for $5,000 or less will be allotted in full. Subscriptions for more than $5,000
will Jbe allotted not less than $5,000. In addition to the amount allotted to the
public, $100 million of these bonds will be allotted to Government Investment
Accounts.
“ The savings-type investors whose subscriptions are given a 60 percent
allotment are as follows: mutual savings banks; savings and loan associations;
building and loan associations; cooperative banks; credit unions; insurance
companies; pension, profit sharing and retirement funds — state and local,
corporate; fraternal benefit associations and labor unions for their insurance
funds; common trust funds, and endowment funds of educational, eleemosynary
institutions and other non-profit organizations.
“ Commercial banks have been given a preferential allotment as compared
with other classes of subscribers, other than savings-type investors, in view of
the fact that subscriptions which commercial banks could submit for their own
account were restricted to a low percentage of their savings deposits or capital
funds, whereas no limitation was placed on other classes of subscribers.
“ Reports received thus far from the Federal Reserve Banks show that sub­
scriptions total about $2,570 million, of which $860 million were received from
subscribers in the savings-type investor groups, $530 million from commercial
banks for their own account, and $1,180 million from all others. Details by Federal
Reserve Districts as to subscriptions and allotments will be announced when final
reports are received from the Federal Reserve Banks.”
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)


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