View original document

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. A G E N T O F TH E U N ITE D S T A T E S

Dallas, Texas, December 15, 1945

EXCHANGE OFFERING

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

There is reproduced on the reverse side hereof Treasury Department Circular No. 782,
dated December 17, 1945, in which the Secretary of the Treasury offers % % Treasury Cer­
tificates of Indebtedness of Series A-1947, on an exchange basis, to holders of Treasury
Notes of Series C-1946, maturing January 1, 1946. Cash subscriptions will not be accepted.
The new certificates will be dated January 1, 1946, and will bear interest from that
date at the rate of % % per annum, payable semi-annually on July 1, 1946, and January 1,
1947. 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, December 17, 1945. 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.
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.
CLOSING OF SUBSCRIPTION BOOKS

The subscription books will close at the close of business Wednesday, December 19,
except for the receipt of subscriptions from holders of $100,000 or less of the maturing
notes. The subscription books will close for the receipt of subscriptions of the latter class
at the close of business Saturday, December 22. 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 of the respective closing days will be
considered as having been entered before the .close of the subscription books.
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
S E 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 T IF IC A T E S O F IN D E B T E D N E S S
O F S E R IE S A -1 9 4 7

Dated and bearing interest from January 1, 1946
1945
Department Circular No. 782

Due January 1,1947
TR E A SU R Y DEPARTM ENT
Office of the Secretary
Washington, December 17, 1945

Fiscal Service
Bureau of the Public Debt

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 certificates of
indebtedness of the United States, designated % percent Treasury Certificates of Indebtedness of
Series A-1947, in exchange for Treasury Notes of Series C-1946, maturing January 1, 1946.
II. DESCRIPTION OF CERTIFICATES
1. The certificates will be dated January 1, 1946, and will bear interest from that date at the
rate of % percent per annum, payable semiannually on July 1, 1946, and January 1, 1947. They will
mature January 1, 1947, 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 accept­
able 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.
IV. PAYMENT
1. Payment at par for certificates allotted hereunder must be made on or before January 2,1946,
or on later allotment, and may be made only in Treasury Notes of Series C-1946, maturing January 1,
1946, which will be accepted at par, and should accompany the subscription.
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 certificates allotted, to make delivery of certificates on full-paid sub­
scriptions 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 supplemental
or amendatory rules and regulations governing the offering, which will be communicated promptly
to the Federal Reserve Banks.
FRED M. VINSON,
Secretary of the Treasury.

EXCHANGE OFFERING
SUBSCRIPTION FOR

7 /8 % United States Treasury Certificates of Indebtedness
Series A-1947
Dated January 1, 1946

Due January 1, 1947

To:
□ 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

For Use of
Federal Reserve Bank
Number...........................
Amount $.......................

Pursuant to the provisions of Treasury Department Circular No. 782, dated December 17, 1945, the under­
signed hereby subscribes for $...... .......................... ~, United States Treasury % % Certificates of Indebtedness,
Series A-1947, dated January 1,1946,maturing January 1, 1947, and tenders the following securities in payment:
•90% U. S. Treasury Notes, Series C-1946,
maturing January 1, 1946.............. ....................................................................................................... .........................
Serial numbers of notes tendered should be listed on the reverse side. The maturing securities should be
surrendered with this subscription.
If maturing notes are not tendered with this subscription, please attach a letter giving complete information
regarding their location and approximate date of surrender.
SCHEDULE FOR ISSUE OF CERTIFICATES

INSTRUCTIONS FOR DELIVERY OF
CERTIFICATES
□
□

Issued in Coupon Form Only. Fill in Number of 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 for own account only)

Number
of Pieces

DO NOT USE THIS COLUMN

At

$ ,0 0
10

□

Ship to------------------------------------------------------------------------

□

Certificates of Indebtedness to be transferred by wire to|

$5,000

$0 0
1 ,0 0
$ 0 ,0 0
10 0
$ ,0 0 0
1 0 ,0 0

(State whether free delivery or against funds)

T im e S ta m p

Amount

TO TAL $

□ This is an original subscription

n This is a confirmation

F o r u s e o f F e d e ra l R e s e r v e B a n k

(N a m e o f S u b s c r ib e r )

By...........
(P r e s id e n t -C a s h ie r )

(Address)

Dated
(O v e r)

LIST OF SUBSCRIBERS
NAME OF SUBSCRIBER

ADDRESS

AM OUNT

TOTAL

$

SERIAL NUMBERS OF
TREASURY NOTES OF SERIES C-I948 SURRENDERED
All coupons should be detached from the surrendered certificates.

1,000’s

5,000’s

|

10,000’s

100,000’s

1,000,000’s

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