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F ed e r a l r e s e r v e Ba n k o f Da lla s F ISCAL AGENT OF THE UNITED STATES DALLAS, TEXAS 7 5 2 2 2 C ircu lar No. 73-215 A ugust 24, 1973 NEW OFFERING — TREASURY BILLS To All B a n k in g Institutions a n d O th ers C o n c e r n e d in th e E leventh F e d e r a l R e serve District: Y our a t t e n t i o n is invited to th e fo 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 issu es of T re as u ry bills: T h e T re a su ry D e p a rtm e n t, b y th is p u b lic notice, in vites ten d e rs fo r tw o series o f T re a su ry bills to th e agg regate a m o u n t of $4,300,000,000, or th ereab o u ts, for cash a n d in exchange for T re a su ry bills m a tu rin g S e p te m b e r 6, 1973, in th e a m o u n t of $4,301,495,000, as follow s: 91-D A Y B IL L S (to m a tu rity d a te ) to b e issued S e p tem b e r 6, 1973, in th e a m o u n t of $2,500,000,000, or th e re ab outs, re p rese n tn g a n ad d itio n al a m o u n t of bills d a te d J u n e 7, 1973, a n d to m a tu re D e c em b er 6, 1973 (C U S I P No. 912793 S G 2 ), orig inally issued in th e a m o u n t of $1,707,440,000, th e a d d itio n al a n d original bills to be freely in terch an g eable. I 182-D A Y B IL L S for $1,800,000,000, or th ere ab o u ts, to be d a te d S e p te m b e r 6, 1973, a n d to m a tu re M a rc h 7, 1974 ( C U S I P No. 912793 T B 2 ) . T h e bills of b o th series will be issued on a d isco u nt basis u n d er co m p e titiv e a n d n o n co m p etitiv e b id d ing as h e re in a fte r pro v id ed , a n d a t m a tu rity th e ir face a m o u n t will be p a y ab le w ith o u t in terest. T h e y w ill be issued in b e a re r form only, a n d in d e no m inatio ns of $10,000, $15,000, $50,000, $100,000, $500,000 a n d $1,000,000 (m a tu r ity v a lu e ). • T e n d e rs will be received a t F e d e ral R e se rv e B a n k s a n d B ranches up to th e closing hour, o n e -th irty p.m ., E a s te rn D a y lig h t Saving T im e, F rid ay , A u gu st 31, 1973. T e n d e rs w ill no t be receiv ed a t th e T re a su ry D e p a rtm e n t, W ashington. E ac h te n d e r m u st be for a m in im u m of $10,000. T e n d e rs over $10,000 m u st be in m u ltip les of $5,000. In th e case of c o m p e titiv e ten d e rs the p rice offered m u st be expressed on th e basis of 100, w ith n o t m ore th a n th re e decim als, e.g., 99.925. F ra c tio n s m ay n o t be used. I t is u rg ed th a t ten d e rs be m ad e on th e p rin te d form s a n d fo rw ard ed in th e special envelopes w hich w ill be su p p lied by F e d e ra l R e se rv e B anks or B ran ch es on a p p lic a tio n th erefor. B a n k in g in stitu tio n s generally m ay su b m it te n d e rs fo r acco u n t of custom ers p ro v id ed th e n am es of th e cu stom ers a re set fo rth in such ten ders. O th ers th a n b a n k in g in stitu tio n s will n o t be p e rm itte d to su b m it te n d e rs ex cept for th e ir own account. T e n d e rs will be receiv ed w ith o u t dep osit from in co rp o ra ted b a n k s and tr u s t co m p an ies a n d fro m responsible a n d recognized d ealers in in v e stm e n t securities. T e n d e rs from o thers m u st be acco m p an ied b y p a y m e n t of 2 p e rc e n t of th e face a m o u n t of T re a su ry bills a p p lie d for, unless th e te n d e rs a re a cco m p an ied by a n express g uaran ty of p a y m e n t b y a n in co rp o ra ted b a n k or tru s t com pany. Im m e d ia te ly a fte r th e closing hour, te n d e rs will be o p en ed a t th e F e d e ra l R e se rv e B an k s a n d B ranches, follow ing w hich p ub lic a n n o u n ce m en t will be m ad e b y th e T re a su ry D e p a rtm e n t of th e a m o u n t a n d p rice ran ge of acc ep te d bids. O nly those su b m ittin g c o m p e titiv e ten d e rs will be ad v ised of th e accep tan ce or rejectio n thereof. T h e S e c retary of th e T re a su ry expressly reserves th e rig h t to a c c e p t or re je c t a n y or all ten d ers, in w hole or in p a rt, a n d his action in a n y such re sp e ct shall be final. S u b je c t to these reservations, n o n c o m p e titiv e te n d e rs for each issue for $200,000 or less w ith o u t sta te d p rice fro m a n y one b id d e r will be a ccep ted in full a t th e av erage p rice (in th re e d ecim als) of acc ep te d c o m p e titiv e b ids for th e resp ectiv e issues. S e ttle m e n t for acc ep te d ten d e rs in accordance w ith th e bid s m u st be m ad e or com p leted a t th e F e d e ra l R eserve B a n k on S e p te m b e r 6, 1973, in cash or o th e r im m e d ia tely av ailab le fu n ds or in a like face a m o u n t of T re a su ry bills m a tu rin g S e p tem b e r 6, 1973. C ash a n d exchange te n d e rs will receive eq ual tre a tm e n t. C ash a d ju s tm e n ts w ill be m ad e for differences b etw een th e p a r valu e of m a tu rin g bills a ccep ted in exchange a n d th e issue price of th e new bills. - U n d er Sections 454 (b ) a n d 1221 ( 5 ) of th e In te rn a l R e v en u e C ode of 1954 th e a m o u n t of d iscou n t a t w hich bills issued h e re u n d e r a re sold is considered to accrue w hen th e bills are sold, re d ee m e d or otherw ise disposed of, a n d th e bills a re excluded from c o n sideration as cap ital assets. A ccordingly, th e ow ner of T re a su ry bills (o th e r th a n life insurance c o m p an ies) issued h ere u n d e r m u st in clu de in his incom e tax re tu rn , as o rd in ary gain or loss, th e difference b etw een th e p rice p a id for th e bills, w h e th er on original issue or on su b seq u en t p u rchase, a n d th e a m o u n t a ctu a lly received e ith e r u p on sale or re d e m p tio n a t m a tu rity d urin g th e tax a b le y e ar fo r w hich th e re tu rn is m ade. T re a su ry D e p a rtm e n t C ircular No. 418 (c u rre n t rev isio n ) a n d th is notice, prescrib e th e term s of th e T re a su ry bills a n d govern th e c o nd itio n s of th e ir issue. C opies of th e c irc u lar m ay be o b tain e d from a n y F e d e ra l R e serv e B a n k o r B ranch. In a c c o r d a n c e w ith th 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 will b e re 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 aso , Houston a n d San A n to n io u p to tw e lv e - th ir ty p.m ., C entral D ayligh t S aving Time, Friday, A u g u s t 31, 1973. T en d e rs m a y not b e e n t e r e d by t e l e p h o n e . Yours v ery truly, P. E. C o ldw e ll P re s id e n t Figures c o ncerning offering of 9 1 -D ay Treasury Bills matu ri ng N o v e m b e r 29 , 1 9 7 3 , a n d 1 8 2 -D a y Treasury Bills maturing February 2 8 , 1 9 7 4 , not a v a i la b l e w hen this circular v/as printe 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 Maturing December 6,1973 Dated June 7,1973 To: Federal Reserve Bank, Station K, Dallas, Texas 75222 or — The______ ________________ Branch E l F aso 79999 Houston 77001 San A ntonio 78295 (D ate) Pursuant to the provisions o f Treasury D epartm ent Circular No. 418 (current revision) and the provisions o f th e public announcement issued by the Treasury D epartm ent, the undersigned offers to purchase T reasury bills in the am ount shown below, and agrees to pay for the amount allotted, on or before the issue date, by the method and at th e rate indicated. NONCOMPETITIVE TENDER $_____________________________________ NOT TO EXCEED $200,000 31, 1973 Noncom petitive tenders for $200,000 or less from any bidder, without stated price, will be accepted in full at the average price (in three decim als) of accepted competitive bids. ------------------------------____________________ COMPETITIVE TENDERS PLEASE OBSERVE CLOSING DATE — FRIDAY, AUGUST -<5J-@ - P rices should be ex p ressed on th e basis of 100, w ith not more than th ree decimal places, e.g., 9 9.925. F r a c t i o n s m ust not be u sed . I S T T E N D E R S MAY NOT BE ACCEPTED B Y TELEPH O NE. T E N D E R S BY W IRE, IF RECEIVED B EFO R E T H E CLOSING HOUR ARE A CC EPTABLE. Denominations Desired Number of pieces P aym ent for this issue of bills cannot be m a d e by credit to T reasury T ax and Loan Account. M aturity Value @ $ 10,000 @ $ 15,000 @ ? 50,000 @ $ 100,000 @ ? 500,000 @ ?1 ,000,000 METHOD OF PA Y M ENT $ ? □ ? $ ? $ □ □ Charge our reserve account on payment date | | Draft enclosed (Effectual delivery of enclosed draft - Delivery Instructions: □ Hold in Custody — General Account □ Hold in Custody — Investment Ac count □ Hold in Custody — Trust Account □ Pledge to secure Treasury Tax and Loan Account □ Other_________________________ -----------------------------------—— By maturing bills held by____________________________ Payment to be made by__________ __ ■ shall be on latest day which w ill permit p resentm ent in order to obtain irrevocably collected funds on pay m ent date) (Subscriber’s fu ll name or corporate title) (Address) By- (Authorized official signature and title) (For the account of, if tender is for another subscriber) -------------------------------------------------------------------- (Address) IMPORTANT 1. No tender for less than $10,000 w ill be considered and each tender over $10,000 m ust be for an amount in m u ltip les of $5,000 (m aturity valu e). 2. Tenders should be forwarded in an envelope clearly addressed to this bank or appropriate branch as F iscal A gent o f the United States, w ith notation on the envelope reading “T E N D E R FOR T R E A SU R Y O FFE R IN G ”. Since envelopes received w ith this legend w ill not be opened until after the closing tim e specified in the public announcement, com m uni cations relating to other m atters should not be enclosed. E nvelopes for subm itting tenders m ay be obtained from this bank or appropriate branch. 3. A ny qualified or conditional tender w ill be rejected. 4. If a corporation m akes the tender, the form should be signed by an officer of th e corporation authorized to m ak e the tender and the sign in g of the form by an officer of the corporation will be construed as a representation by him th a t he has been so authorized. If the tender is made by a partnership it should be signed by a member o f 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 trust 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 (maturity 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 trust company. If the language of this form is changed in any respect, which, in the opinion of the Secretary of the Treasury is material, the tender may be disregarded (See reverse for announcement)
@FedFRASER