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 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, January 31, 1963 EXCHANGE OFFERING To All Banking Institutions and Others Concerned In the Eleventh Federal Reserve District: Enclosed are Treasury Department Circulars, Public Debt Series Nos. 2-63 and 3-63 and related subscription forms pertaining to an exchange offering involving the following Treasury securities at par: SECURITIES OFFERED 3 ’A PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES A-1964 3% PERCENT TREASURY BONDS OF 1968 (Additional Issue) SECURITIES ELIGIBLE FOR EXCHANGE 3!/2 percent Treasury Certificates of Indebtedness of Series A - 1963, maturing February 15, 1963 2% percent Treasury Notes of Series A-1963, maturing February 15, 1963 3'A percent Treasury Notes of Series E-1963, maturing February 15, 1963 PAYMENT Payment should be made on or before February 15, 1963, and, where possible, securities tendered in payment should accompany the subscriptions. TAX ACCOUNT NUMBERS The 3 3/i percent Treasury Bonds of 1968 may be obtained in bearer or registered form. If registered securities are requested, subscribers must furnish appropriate identifying numbers as required on tax returns and other documents submitted to the Internal Revenue Service, i.e., an individual’s Social Security number or an employer identification number. CLOSING OF SUBSCRIPTION BOOKS The subscription books will be open on February 4 through February 6, 1963, and subscriptions placed in the mail before midnight on Wednesday, February 6, will be considered timely. Subscriptions will be received at this bank and its branches at El Paso, Houston, and San Antonio, and should be submitted on the enclosed forms. Additional circulars and forms will be furnished upon request. 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) UNITED STATES OP AMERICA 3V* PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES A-1964 Dated and bearing interest from February 15, 1963 DEPARTMENT CIRCULAR Due February 15, 1964 TREASURY DEPARTM ENT Office o f the Secretary Washington, February 4, 1963 Public Debt Series — No. 2-63 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 3 X A percent Treasury Certificates of Indebtedness of Series A-1964, in exchange for the following securities, all of which mature February 15, 1963: 3Vz percent Treasury Certificates of Indebtedness of Series A-1963; 22 *5/s percent Treasury Notes of Series A-1963; or 3 V4 percent Treasury Notes o f Series E-1963. The amount of the offering under this circular will be limited to the amount of eligible securities tendered in exchange and accepted. The books will be open only on February 4 through February 6, 1963, for the receipt of subscriptions for this issue. 2. In addition to the offering under this circular, holders of the eligible securities are offered the privilege of exchanging all or any part of such securities for 3 % percent Treasury Bonds of 1968, which offering is set forth in Department Circular, Public Debt Series-No. 3-63, issued simultaneously with this circular. II. DESCRIPTION OF CERTIFICATES 1. The certificates will be dated February 15, 1963, and will bear interest from that date at the rate of 3V4 percent per annum, payable semiannually on August 15, 1963, and February 15, 1964. They will mature February 15, 1964, and will not be subject to call for redemption prior to maturity. 2. The income derived from the certificates is subject to all taxes imposed under the Internal Revenue Code of 1954. The certificates are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are 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, $1,000,000, $100,000,000 and $500,000,000. The certificates will not be issued in regis tered 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 Office of the Treasurer of the United States, Washington 25, D. C. Banking institutions generally may submit subscriptions for account o f 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 or reduce any subscription, and to allot less than the amount of certificates applied for; 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 for the face amount of certificates allotted hereunder must be made on or before February 15, 1963, or on later allotment, and may be made only in securities of the three issues enumerated in Section I hereof, which will be accepted at par, and should accompany the subscription. Coupons dated February 15, 1963, should be detached from the certificates and notes in bearer form and cashed when due. In the case of registered notes of Series E-1963, the final interest due on February 15, 1963, will be paid by check drawn in accordance with the assignments on the notes surrendered, or by credit in any account maintained by a banking institution with the Federal Reserve Bank of its District. V. ASSIGNMENT OF REGISTERED NOTES 1. Treasury Notes of Series E-1963 in registered form tendered in payment for certificates offered hereunder should be assigned by the registered payees or assignees thereof to “The Secretary of the Treasury for exchange for 3 Vn percent Treasury Certificates of Indebtedness of Series A -1964 to be delivered to___________________”, in accordance with the general regulations of the Treasury Department governing assignments for transfer or exchange, and thereafter should be surrendered with the subscription to a Federal Reserve Bank or Branch or to the Office of the Treasurer of the United States, Washington 25, D. C. The notes must be delivered at the expense and risk of the holder. VI. 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. DOUGLAS DILLON, Secretary of the Treasury. UNITED STATES OF AMERICA 3% PERCENT TREASURY BONDS OF 1968 Dated April 18, 1962, with interest from February 15, 1963 Due August 15, 1968 Interest payable February 15 and August 15 ADDITIONAL ISSUE DEPARTMENT CIRCULAR ■■ ■ ■ Public Debt Series — No. 3-63 TREASURY DEPARTM ENT Office of the Secretary Washington, February 4, 1963 I. OFFERING OF BONDS 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 bonds of the United States, designated 3 3A percent Treasury Bonds of 1968, in exchange for any of the following securities, all of which mature on February 15, 1963: 3V2 percent Treasury Certificates of Indebtedness of Series A-1963; 2% percent Treasury Notes of Series A-1963; or 3Va percent Treasury Notes of Series E-1963. The amount of the offering under this circular will be limited to the amount of eligible securities tendered in exchange and accepted. The books will be open only on February 4 through February 6, 1963, for the receipt of subscriptions for this issue. 2 . In addition to the offering under this circular, holders of the eligible securities are offered the privilege of exchanging all or any part of such securities for 3 Vi percent Treasury Certificates of Indebted ness of Series A-1964, which offering is set forth in Department Circular, Public Debt Series — No. 2-63, issued simultaneously with this circular. II. DESCRIPTION OF BONDS 1. The bonds now offered will be an addition to and will form a part of the series of 3 % percent Treasury Bonds of 1968 issued pursuant to Department Circular, Public Debt Series — No. 8-62, dated April 9, 1962, will be freely interchangeable therewith, and are identical in all respects therewith except that interest on the bonds to be issued under this circular will accrue from February 15, 1963. Subject to the provision for the accrual of interest from February 15, 1963, on the bonds now offered, the bonds are described in the following quotation from Department Circular No. 8-62: “ 1. The bonds will be dated April 18, 1962, and will bear interest from that date at the rate of 3 % percent per annum, payable on a semiannual basis on August 15, 1962, and thereafter on February 15 and August 15 in each year until the principal amount becomes payable. They will mature August 15, 1968, and will not be subject to call for redemption prior to maturity. “2. The income derived from the bonds is subject to all taxes imposed under the Internal Revenue Code of 1954. The bonds are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are 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 bonds will be acceptable to secure deposits of public moneys. They will not be acceptable in payment of taxes. “4. Bearer bonds with interest coupons attached, and bonds registered as to principal interest, will be issued in denominations of $500, $1,000, $5,000, $10,000, $100,000 $1,000,000. Provision will be made for the interchange of bonds of different denominations of coupon and registered bonds, and for the transfer of registered bonds, under rules regulations prescribed by the Secretary of the Treasury. and and and and “5. The bonds will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States bonds.” III. SUBSCRIPTION AND ALLOTMENT 1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Office of the Treasurer of the United States, Washington 25, D. C. 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. All subscribers requesting registered bonds will be required to furnish appropriate identifying numbers as required on tax returns and other documents submitted to the Internal Revenue Service, i.e., an individual’s Social Security number or an employer identification number. 3. The Secretary of the Treasury reserves the right to reject or reduce any subscription, and to allot less than the amount of bonds applied for; 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 for the face amount of bonds allotted hereunder must be made on or before February 15, 1963, or on later allotment, and may be made only in securities of the three issues enumerated in Section I hereof, which will be accepted at par, and should accompany the subscription. Payment will not be deemed to have been completed where registered bonds are requested if the appropriate identifying number, as required by Paragraph 2 of Section III hereof, has not been furnished; provided, however, if a subscriber has applied for but is unable to furnish the identifying number by the payment date only because it has not been issued, he may elect to receive, pending the furnishing of the identifying number, interim receipts and in this case payment will be deemed to have been completed. Coupons dated February 15, 1963, should be detached from the certificates and notes in bearer form and cashed when due. In the case of registered notes of Series E-1963, the final interest due on February 15, 1963, will be paid by check drawn in accordance with the assignments on the notes surrendered, or by credit in any account maintained by a banking institution with the Federal Reserve Bank of its District. V. ASSIGNMENT OF REGISTERED NOTES 1. Treasury Notes of Series E-1963 in registered form tendered in payment for bonds offered hereunder should be assigned by the registered payees or assignees thereof, in accordance with the general regulations of the Treasury Department governing assignments for transfer or exchange, in one of the forms hereafter set forth, and thereafter should be surrendered with the subscription to a Federal Reserve Bank or Branch or to the Office of the Treasurer of the United States, Washington 25, D. C. The notes must be delivered at the expense and risk of the holder. If the bonds are desired registered in the same name as the notes surrendered, the assignment should be to “The Secretary of the Treasury for exchange for 3 % percent Treasury Bonds of 1968” ; if the bonds are desired registered in another name, the assignment should be to “The Secretary of the Treasury for exchange for 3 % percent Treasury Bonds of 1968 in the name of_______________________________ ”; if bonds in coupon form are desired, the assignment should be to “The Secretary of the Treasury for exchange for 3 % percent Treasury Bonds of 1968 in coupon form to be delivered to_______________________________ ”. VI. 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 bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive bonds. 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. DOUGLAS DILLON, Secretary of the Treasury.
@FedFRASER