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F ederal R eserve Bank of Dallas
F IS C A L A G E N T O F T H E U NITED S T A T E S

DALLAS, TEXAS

75222
Circular No. 72-222
Septem ber 29, 1972

NEW OFFERING — TREASURY BILLS
To All B a n k in g Institutions a n d O th e rs C o n c e r n e d
in t h e E leventh F e d e r a l R e se rv e District:
Y o ur a t t e n t i o n is inv ited to th e f o llo w in g s t a t e m e n t g iv in g d e t a il s of tw o iss u e s of T re as u ry bills:
T h e T rea su ry D ep a rtm e n t, b y th is p u b lic n o tice, in v ite s ten d e rs for tw o series o f T rea su ry b ills t o th e ag g reg ate am ou n t
o f $ 4 ,1 0 0 ,0 0 0 ,0 0 0 , or th erea b ou ts, for ca sh and in ex ch a n g e for T rea su ry b ills m a tu rin g O cto b er 12, 1972, in th e a m o u n t o f
$ 4 ,1 0 1 ,7 0 0 ,0 0 0 , a s fo llow s:
9 1 - D A Y B I L L S ( t o m a tu rity d a te ) to b e issu ed O ctober 12, 19 7 2, in th e a m o u n t o f $ 2 ,3 0 0 ,0 0 0 ,0 0 0 , or th e re­
a b o u ts, rep resen tin g a n a d d itio n a l a m o u n t o f b ills d a te d J u ly 13, 1972, and to m atu re J an u a ry 11, 1973
( C U S I P N o . 9 1 2 7 9 3 Q A 7 ) , o rig in a lly issu ed in th e a m o u n t o f $ 1 ,8 0 1 ,4 2 5 ,0 0 0 , th e a d d itio n a l and origin al b ills
to b e fr e e ly in terch an g eab le.
1 8 2 -D A Y B I L L S for $ 1 ,8 0 0 ,0 0 0 ,0 0 0 , or th ereab o u ts, to b e d ated O cto b er 12, 19 72 , and to m atu re A p ril 12, 1973
(C U S IP N o. 912793 Q P 4 ).
T h e b ills o f b o th series w ill b e issu ed on a d isco u n t b a sis u n d er c o m p e titiv e a n d n o n c o m p e titiv e b id d in g a s h erein after
p rov id ed , an d a t m a tu rity their fa ce a m o u n t w ill b e p a y a b le w ith o u t in terest. T h e y w ill be issued in bearer form o n ly , an d in
d en o m in a tio n s o f $ 1 0 ,0 0 0 , $ 1 5 ,0 0 0 , $ 5 0 ,0 0 0 , $ 1 0 0 ,0 0 0 , $ 5 0 0 ,0 0 0 a n d $ 1 ,0 0 0 ,0 0 0 (m a tu r ity v a lu e ) .
T e n d e r s w ill b e re c e iv e d a t F ed era l R e s e r v e B a n k s a n d B ra n ch es u p to t h e c lo sin g hour, o n e-th irty p.m ., E a stern
D a y lig h t S a v in g T im e , F rid a y, O ctob er 6, 1972. T e n d er s w ill n o t b e rece iv ed a t th e T rea su ry D e p a r tm e n t, W ash in g to n . E ach
te n d e r m u s t b e for a m in im u m o f $1 0,0 0 0 . T e n d e r s o v er $ 1 0 ,0 0 0 m u st b e in m u ltip le s o f $5 ,00 0. In th e case o f c o m p e titiv e
ten d e rs th e p rice offered m u s t b e exp ressed o n th e b a sis o f 100, w ith n o t m ore th a n th ree d ecim als, e.g., 9 9.9 25 . F ra ctio n s m a y
n o t b e used . I t is urged th a t ten d ers b e m a d e on t h e p rin te d fo rm s and forw arded in th e sp ec ia l e n v e lo p e s w h ich w ill b e
su p p lie d b y F ed e r a l R e s e r v e B a n k s or B r a n c h e s o n a p p lica tio n therefor.
B a n k in g in stitu tio n s g en era lly m a y su b m it ten d e rs fo r a cco u n t o f cu stom ers p ro v id ed t h e n a m e s o f th e cu sto m ers are
se t fo rth in su ch tenders. O ther th a n b a n k in g in stitu tio n s w ill n o t b e p erm itted to su b m it ten d ers e x c e p t for th eir ow n account.
T e n d e r s w ill b e rece iv ed w ith o u t d e p o sit from in corp orated b a n k s and tru st co m p a n ie s and from resp o n sib le an d recogn ized
d ea lers in in v e stm e n t secu rities. T e n d e r s from others m u s t be acco m p a n ied b y p a y m e n t o f 2 p ercen t o f th e fa ce a m o u n t of
T r ea su ry b ills a p p lie d for, u n less t h e ten d e rs are a cco m p a n ied b y an exp ress g u aran ty o f p a y m e n t b y a n in corp orated b an k or
tru st com p a n y.
I m m e d ia te ly a fter t h e clo sin g hour, ten d e rs w ill b e o p e n e d a t th e F ed era l R e s e r v e B a n k s a n d B ranches, fo llo w in g w h ich
p u b lic a n n o u n c em en t w ill b e m a d e b y th e T rea su ry D e p a r tm e n t o f th e a m o u n t and p rice range o f a c c e p te d bids. O n ly th o se
su b m ittin g c o m p e titiv e ten d ers w ill b e a d v ise d o f th e a ccep ta n ce or rejectio n thereof. T h e S ecreta ry o f t h e T r ea su ry ex p ressly
reserves th e righ t t o a c c e p t or reject a n y or a ll ten d ers, in w h o le or in part, and h is a ctio n in a n y such resp ect sh all b e final. S u b ­
je c t to th e se reservations, n o n c o m p e titiv e ten d ers for each issu e for $ 2 0 0 ,0 0 0 or less w ith o u t sta ted price from a n y o n e bid der w ill
b e a c c e p te d in fu ll a t th e a v erag e p rice ( in th r ee d e c im a ls) o f a c c e p te d c o m p e titiv e b id s for th e r e s p ectiv e issues. S e ttle m e n t for
a c c e p te d ten d e rs in accord an ce w ith t h e b id s m u s t b e m a d e or co m p le te d a t th e F ed era l R e s e r v e B a n k o n O ctob er 12, 1972,
in ca sh or oth er im m e d ia te ly a v a ila b le fu n d s or in a lik e fa ce am ou n t o f T rea su ry b ills m atu rin g O ctob er 12, 1972. Cash and
ex ch a n g e ten d e rs w ill r ece iv e eq u al trea tm en t. Cash a d ju stm en ts w ill b e m a d e for d ifferen ces b e tw e e n t h e par v a lu e o f m atu rin g
b ills a c c e p te d in ex ch a n g e an d t h e issu e p rice o f th e n ew b ills.
U n d er S e c tio n s 4 5 4 ( b ) a n d 1221 ( 5 ) o f th e In tern a l R e v e n u e C od e o f 1 9 5 4 t h e a m o u n t o f d isco u n t a t w h ich b ills issu ed
h ereu n d er are sold is con sid ered to accru e w h en th e b ills are sold, red eem ed or o th erw ise d isp o sed of, a n d th e b ills are exclu d ed
from co n sid er a tio n as ca p ita l assets. A cco rd in g ly , t h e ow n er o f T rea su ry b ills (o th e r th a n life in su ran ce c o m p a n ie s) issu ed h ere­
u n d er m u st in clu d e in h is in co m e ta x return, as ord in ary gain or loss, th e d ifferen ce b e tw e e n th e p rice p a id for th e b ills, w h eth er
on origin al issu e or on su b seq u e n t purch ase, an d th e a m o u n t a c tu a lly r e ce iv ed e ith er u p o n sale or r ed em p tio n a t m a tu r ity during
t h e ta x a b le y ea r for w h ich th e return is m ade.
T rea su ry D e p a r tm e n t Circular N o . 4 1 8 (cu rren t r e v is io n ) an d th is n o tice, prescrib e th e term s o f th e T rea su ry b ills and
go v ern t h e c o n d itio n s o f th eir issue. C o p ies o f t h e circular m a y b e o b ta in ed from a n y F ed era l R e s e r v e B a n k or B ranch,

In a c c o r d a n c e w ith t h e a b o v e a n n o u n c e m e n t , t e n d e r s w ill b e r e c e iv e d a t this b a n k a n d its b r a n c h e s a t El P a so ,
Houston a n d S an A n to n io u p to tw e lv e - th ir ty p .m ., C entral D ay lig h t S avin g Time, Friday, O c to b e r 6, 1972. T enders
m ay n o t b e e n t e r e d b y t e l e p h o n e .
Y ours v e r y truly,
P. E. Coldw ell
P re sid e n t

F i g u re s c o n c e r n i n g

o f f e r i n g o f 9 1 - D a y T r e a s u r y Bills m a t u r i n g J a n u a r y 4 ,

1973, and

1 8 2 - D a y T r e a s u r y Bills m a t u r i n g

April 5 , 1 9 7 3 , n o t a v a i l a b l e w h e n this c ir c u l a r w a s p r i n t e d .

(See reverse for tender form)

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

TENDER FOR ADDITION TO TREASURY BILLS

91 DAYS TO MATURITY
Dated July 13,1972

Maturing January 11, 1973

T o : Federal Reserve Bank, Station K, Dallas, T exas 75222
or —
The-----------------------------------------Branch
El Paso 79999 Houston 77001

San Antonio 78295

( D

a t e )

Pursuant to the provisions of Treasury Department Circular No. 418 (current revision) and the provisions of the
public announcement issued by the Treasury Department, the undersigned offers to purchase Treasury bills in the amount
shown below, and agrees to pay for the amount allotted, on or before the issue date, by the method and at the rate indicated.

NONCOMPETITIVE T E N D E R $_______________________________________

JVOT TO EXC E E D $200,000

DATE — FRIDAY, OCTOBER

6, 1972

Noncompetitive tenders for $200,000 or less from any one bidder, without stated price, will be accepted in full at the average
price (in three decimals) of accepted competitive bids.

$

CLOSING

•$

COMPETITIVE T E N D E R S , $$
•

■$

$

(n)

•$

$

@

%

E g 3 TENDERS MAY NOT BE ACCEPTED BY TELEPHONE. TENDERS BY WIRE, IF RECEIVED BEFORE THE
CLOSING HOUR ARE ACCEPTABLE.
Denominations Desired

@ ?

10,000 $.

@ $

15,000 $.

Payment for this issue of bills cannot be made by
credit to Treasury Tax and Loan Account.
METHOD OF PAYMENT
□ B y m a tu r in g bills
held by---------------------------------------------------

@ ?

50,000 $.

□

P a y m e n t to be m a d e b y________________

@ $ 100,000 $.

□

-@ $ 500,000 $.

C harge ou r re se r v e accou n t on p a y m e n t
d a te

$1,000,000 $.

1
__1 D r a f t e n c l o s e d (E ffectu al delivery o f enclosed d r a f t

N u m b e r of
pieces

-

M a tu rity V alue

s h a ll b e o n l a t e s t d a y w h i c h will p e r m i t p r e s e n t m e n t in
o r d e r to o b t a i n i r r e v o c a b ly collected f u n d s o n p a y m e n t
date)

D eliv e r y In str u c tio n s:
□
□

P led g e to se c u r e T r ea su ry T a x and
Loan A ccou n t

( S u b s c rib e r's full n a m e o r c o rp o r a te title)

H old in C u stod y A ccount— M em ber
b a n k s fo r ow n a ccou n t only

(A ddress)

By( A u t h o r i z e d o f fi c ia l s i g n a t u r e a n d t i t l e )

□

S hip to----------------------------------------------

PLEASE

OBSERVE

@

Prices should be
expressed on th e
basis of 100, with
not more than three
decimal places, e.g.,
99.925. F ra c tio n s
m ust not be used.

( F o r t h e a c c o u n t of, if t e n d e r i s f o r a n o t h e r s u b s c r i b e r )

(A ddress)

IMPORTANT
1. No tender for less than $10,000 will be considered and each tender over $10,000 must be for an amount in multiples of
$5,000 (m aturity value).
2. Tenders should be forwarded in an envelope clearly addressed to this bank or appropriate branch as Fiscal Agent of the
United States, with notation on the envelope reading “TENDER FOR TREASURY OFFERING”. Since envelopes
received with this legend will not be opened until after the closing time specified in the public announcement, communi­
cations relating to other m atters should not be enclosed. Envelopes for submitting tenders may be obtained from this
bank or appropriate branch.
3. Any qualified or conditional tender will be rejected.
4. If a corporation makes the tender, the form should be signed by an officer of the corporation authorized to make the
tender and the signing of the form by an officer of the corporation will be construed as a representation by him th at he
has been so authorized. If the tender is made by a partnership it should be signed by a member of the firm, who
should sign in the form “__________________________ , a copartnership, by____________________________________
a member of the firm.”
5. Tenders from those other than incorporated banks and tru st companies or responsible and recognized dealers in invest­
ment securities will be disregarded, unless accompanied by a deposit of 2 percent of the total amount (m aturity value)
of the Treasury bills applied for, or unless the tenders are accompanied by an express guaranty of full payment by an
incorporated bank or tru st company.
6. If the language of this form is changed in any respect, which, in the opinion of the Secretary of the Treasury is
m aterial, the tender may be disregarded
(See reverse for announcement)

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