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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, July 19,1947 E X C H A N G E O FFER IN G 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. 810, in”which the Secretary of the Treasury offers % % Treasury Certificates of Indebtedness of Series G-1948, on an exchange basis, par for par, to holders of Treasury Certificates of Indebtedness of Series G-1947, maturing August 1, 1947, in the amount of $1,223, 453,000. Cash subscriptions will not be received. The new certificates will be dated August 1, 1947, and will bear interest from that date at the rate of % % per annum, payable with the principal at maturity on July 1, 1948. They will be issued in bearer form only, in denominations of $1,000, $5,000, $10,000, $100,000 and $1,000,000, and since the interest is payable with the principal at maturity no interest coupons will be attached. The books for the receipt of subscriptions to this exchange offering will be opened on Monday, July 21, 1947. 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 certificates. 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 for the receipt of all subscriptions at the close of business Wednesday, July 23. 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 closing day 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) U N IT E D S T A T E S O F A M E R IC A S E V E N -E IG H T H S PERCENT TREASU RY C E R T IF IC A T E S OF IN D E B T E D N E S S O F S E R IE S G - 1 9 4 8 Dated and bearing interest from August 1, 1947 Due July 1, 1948 TREASURY DEPARTMENT Office of the Secretary Washington, July 21, 1947 1947 Department Circular No. 810 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 G-1948, in exchange for Treasury Certificates of Indebtedness of Series G-1947, maturing August 1, 1947. II. DESCRIPTION OF CERTIFICATES 1. The certificates will be dated August 1, 1947, and will bear interest from that date at the rate of % percent per annum, payable with the principal at maturity on July 1, 1948. They will not be subject to call for redemption prior to maturity. 2. The income derived from the certificates shall be subject to all taxes now or hereafter imposed under the Internal Revenue Code, or laws amendatory or supplementary thereto. 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. 8. The certificates will be acceptable to secure deposits of public moneys. They will not be acceptable in payment of taxes. 4. Bearer certificates 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 August 1, 1947, or on later allotment, and may be made only in Treasury Certificates of Indebtedness of Series G-1947, maturing August 1, 1947, 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 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 supplemental or amendatory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve Banks. JOHN W. SNYDER, Secretary of the Treasury. EXCHANGE OFFERING SUBSCRIPTION FOR 7 /8 % United States Treasury Certificates of Indebtedness Series G-1948 Due July 1, 1948 Dated August 1, 1947 For Use of Federal Reserve Bank 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 Number.......................... Amount $...................... Pursuant to the provisions of Treasury Department Circular No. 810, dated July 21, 1947, the undersigned hereby subscribes for $..................-...... ........................ , United States Treasury % % Certificates of Indebtedness, Series G-1948, dated August 1,1947, maturing July 1,1948, and tenders the following securities in payment: % per cent Certificates of Indebtedness, Series G-1947, maturing August 1, 1947.................................................................................................................... $............................... Serial numbers of certificates tendered should be listed on the reverse side. The maturing securities should be surrendered with this subscription. If maturing securities are not tendered with this subscription, please attach a letter giving complete information regarding the location and approximate date o f surrender of the securities. SCH EDU LE FOR ISSUE OF CER TIFICATES IN STRUCTIONS FOR D E L IV E R Y OF CER TIFICATES □ □ □ O Issued in Bearer Form Only. Fill in Number of Pieces and Denominations Desired Hold in Custody Account (Allotted to member banks for own account only) Pledge to Secure War Loan Deposits (Allotted to qualified banks for own account only) Number of Pieces At DO NOT USE THIS COLUMN $1,000 Ship to----- ---------------------------------------------------------- $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) Time Stamp Amount TO TAL $ □ This is an original subscription. □ This is a confirmation. F or use o f Federal Reserve Bank (Name of Subscriber) By. (President-C ashier) (Address) (Over) Dated LIST OF SUBSCRIBERS NAME OF SUBSCRIBER AMOUNT ADDRESS * TOTAL $ SERIAL NUMBERS OF TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES G-1947 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*8
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