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FEDERAL RESERVE B AN K O F D A L L A S F IS C A L . A G E N T O F T H E U N I T E D S T A T E S Dallas, Texas, February 16, 1945 EXCHANGE OFFERING To All Ranking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: There is reproduced on the reverse side hereof Treasury Department Circular No. 764, dated February 19, 1945, in which the Secretary of the Treasury offers % % Treas ury Certificates of Indebtedness of Series B-1946, on an exchange basis, to holders of 0.90% Treasury Notes of Series D-1945, maturing March 1, 1945, or % % Treasury Notes of Series A-1945, maturing March 15, 1945, or 114% Treasury Notes of Series C-1945, maturing March 15, 1945. Cash subscriptions will not be accepted. The new certificates will be dated March 1, 1945, and will bear interest from that date at the rate of % % per annum, payable semiannually on September 1, 1945, and March 1, 1946. They will be issued in bearer form only, with two interest coupons attached, in denominations of $1,000, $5,000, $10,000, $100,000, and $1,000,000. The books for the receipt of subscriptions to this exchange offering will be opened on Monday morning, February 19, 1945. The Secretary of the Treasury reserves the right to close the books at any time without notice. All timely subscriptions will be allotted in full. Subscriptions will be received at this bank and its branches at El Paso, Houston, and San Antonio, and should be submitted on the enclosed form, with surrender of the matur ing notes. Coupons dated March 15, 1945, should be attached to the Series A-1945 and Series C-1945 notes when surrendered, and accrued interest from September 15, 1944, to March 1, 1945 ($3.45994 per $1,000 in the case of the Series A-1945 notes and $5.76657 per $1,000 in the case of the Series C-1945 notes) will be paid following acceptance of the notes. It is urged that subscriptions be entered on the subscription forms rather than by letters or otherwise. Additional subscription forms will be forwarded upon request. 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) UNITED STATES OF AMERICA SE V E N -E IG H T H S P E R C E N T T R E A S U R Y C E R TIFIC A TE S O F IN D E B TE D N E SS O F SE R IE S B -1 9 4 6 Dated and Bearing Interest from March 1, 1945 1945 Department Circular No. 764 ----------Fiscal Service Bureau of the Public Debt Due March 1, 1946 TR EASURY DEPARTMENT Office of the Secretary Washington, February 19,1945 I. OFFERING OF CERTIFICATES 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended, invites subscriptions, at par, from the people of the United States for certifi cates of indebtedness of the United States, designated % percent Treasury Certificates of Indebtedness of Series B-1946, in exchange for 0.90 percent Treasury Notes of Series D-1945, maturing March 1, 1945, or % percent Treasury Notes of Series A-1945 or 11/4 percent Treas ury Notes of Series C-1945, both maturing March 15, 1945. The amount of the offering under this circular will be limited to the amount of such maturing notes tendered and accepted. II. DESCRIPTION OF CERTIFICATES 1. The certificates will be dated March 1, 1945, and will bear interest from that date at the rate of % percent per annum, payable semiannually on September 1, 1945, and March 1, 1946. They will mature March 1,1946, and will not be subject to call for redemption prior to maturity. 2. The income derived from the certificates shall be subject to all Federal taxes, now or hereafter imposed. The certificates shall be subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but shall be 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 certificates will be acceptable to secure deposits of public moneys. They will not be acceptable in payment of taxes. 4. Bearer certificates with interest coupons attached will be issued in denominations of $1,000, $5,000, $10,000, $100,000 and $1,000,000. The certificates will not be issued in registered form. 5. The certificates will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States certificates. III. SUBSCRIPTION AND ALLOTMENT 1. Subscriptions will be received at the Federal Reserve banks and branches and at the Treasury Department, Washington. Banking institutions generally may submit subscriptions for account of customers, but only the Federal Reserve banks and the Treasury Department are authorized to act as official agencies. 2. The Secretary of the Treasury reserves the right to reject any subscription, in whole or in part, to allot less than the amount of certificates applied for, and to close the books as to any or all subscriptions at any time without notice; and any action he may take in these respects shall be final. Subject to these reservations, all subscriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment. IY. PAYMENT 1. Payment at par for certificates allotted hereunder must be made on or before March 1, 1945, or on later allotment, and may be made only in Treasury Notes of Series D-1945, maturing March 1, 1945, or of Series A-1945 or Series C-1945, both maturing March 15, 1945, which will be accepted at par, and should accompany the subscription. Coupons dated March 15, 1945, must be attached to the Series A-1945 and Series C-1945 notes when surrendered, and accrued inter est from September 15, 1944, to March 1, 1945 ($3.45994 per $1,000 in the case of the Series A-1945 notes and $5.76657 per $1,000 in the case of the Series C-1945 notes) will be paid fol lowing acceptance of the notes. 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 dis tricts, to issue allotment notices, to receive payment for certificates allotted, to make delivery of certificates on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive certificates. 2. The Secretary of the Treasury may at any time, or from time to time, prescribe supple mental or amendatory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve banks. HENRY MORGENTHAU, JR. Secretary of the Treasury LIST OF SUBSCRIBERS N AM E OF SUBSCRIBER ADDRESS AMOUNT TOTAL $ SERIAL NUMBERS OF TREASURY NOTES OF SERIES B-1945 SURRENDERED Ail coupons should be detached from the surrendered notes SERIAL NUMBERS OF TREASURY NOTES OF SERIES A-I945 SURRENDERED Coupons dated March 15,1945, must be attached to Notes when surrendered Coupons dated March 15,1945, must be attached to Notes when surrendered If space is not sufficient, use a sheet in similar form and attach to subscription form. EXCHANGE OFFERING 7/8% SUBSCRIPTION FOR United States Treasury Certificates of Series B-1946 Due March 1,1946 Dated March 1, 1945 To: □ □ □ □ Indebtedness For Use of Federal Reserve Bank Number........................... Amount $....................... Federal Reserve Bank, Dallas 13, Texas Federal Reserve Bank Branch, El Paso, Texas Federal Reserve Bank Branch, Houston 1, Texas Federal Reserve Bank Branch, San Antonio 6, Texas Pursuant to the provisions of Treasury Department Circular No. 764, dated February 19,1945, the undersigned hereby subscribes for .......... ........... , United States Treasury % % Certificates of Indebtedness, Series B-1946, dated March 1, 1945, maturing March 1, 1946, and tenders the following securities in payment: .90% Treasury Notes, Series D-1945, maturing March 1, 1945, with all coupons detached.......................................................... -.......................................................$............................... . % % Treasury Notes, Series A-1945, maturing March 15, 1945, with coupon dated March 15,1945, attached........ .......................................................................... $................................. (Accrued interest from September 15, 1944, to March 1, 1945, ($3.45994 per .$1,000) will be paid following acceptance of the notes.) It4% Treasury Notes, Series C-1945, maturing March 15, 1945, with coupon dated March 15, 1945, attached...................................................................................$...... .......................... (Accrued interest from September 15, 1944, to March 1, 1945, ($5.76657 per $1,000) will be paid following acceptance of the notes.) Serial numbers of Treasury notes tendered should be listed on the reverse side. The maturing securities should be surrendered with this subscription. " maturing certificates or notes are not tendered with this subscription, please attach a letter giving .^formation regarding the location and approximate da e of surrender of the securities. SCHEDULE FOR ISSUE OF CERTIFICATES INSTRUCTIONS FOR DELIVERY OF CERTIFICATES I □ □ □ □ Issued in Coupon Form Only. Fill in Number o f Pieces and Denominations Desired Hold in Custody Account (Allotted to banks for own account only) Pledge to secure W ar Loan Deposits (Allotted to qualified banks fo r own account only) Ship to Number of Pieces DO N O T USE TH IS C OLU M N At $5,000 ~~~ $10,000 $100,000 $1,000,000 Certificates of Indebtedness to be transferred by wire to (State whether free delivery or against funds) TOTAL $ □ This is an original subscription □ This is a confirmation (Name of Subscriber) Time Stamp By........................................................ (President-Cashier) (Address) Dated. A m ount $1,000 .— ---------------------------------------------- For use of Federal Reserve Bank complete , 1945. (O v e r ) Treasury Department FOREIGN FUNDS CONTROL February 16, 1945 PUBLIC CIRCULAR NO. 26, UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTIONS 3(a) AND 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* Status of Northern Bukovina and Bessarabia under Executive Order No. 8389, as amended, and General Ruling No. 11, as amended. For the purposes of Executive Order No. 8389, as amended, and General Ruling No. 11, as amended, Northern Bukovina and Bessarabia shall be deemed to be subject to the jurisdiction of the Union of Socialist Soviet Republics, in accord ance with the terms of the Armistice of September 12,1944, between Rumania and the United Nations. HERBERT E. GASTON Acting Secretary of the Treasury * Appendix B; Sec. 3 (a ), 40 Stat. 412; Sec. 5 (b ), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941 and July 26, 1941. REFERENCE— GENERAL RULING NO. 11, AS AMENDED TREASURY DEPARTMENT Washington Press Service No. 45-14 Friday, February 16, 1945 The blackout on commercial and business communications with Finland, Poland and other Baltic areas which are no longer under German domination, was lifted today by the Treasury Department. This action coincided with the restoration of postal service with these areas; however, telecommunications with these areas are not permitted at this time. Treasury licenses will still be required to send to these areas communications constituting or containing instructions or authorizations to effect financial or property transactions. Today’s action took the form of an amendment to General Ruling No. 11, removing the liberated areas concerned from the category of “ enemy territory.” German terri tories and other areas still under the control of the enemy will continue to be “ enemy territory” and will remain subject to the restrictions contained in the general ruling. Treasury officials stated that the resumption of communications with other recently liberated areas is now under consideration and that further announcements will be made later. 45 -6 (Over)
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