The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F ederal reserve Bank of Dallas FISCAL AGENT OF THE UNITED STATES DALLAS, TEXAS 75222 C ircular No. 73-281 N ovem ber 5, 1973 N E W OFFERING — TREASURY BILLS To A ll Banking Institutions a n d Others Concerned in the Eleventh Federal Reserve District: Y our attention is invited to the fo llo w in g statem ent giving details of tw o issues of Treasury bills: T he T reasury D epartm ent, by th is public notice, invites tenders for two series of T reasury bills to th e aggregate am ount of $4,300,000,000, or thereabouts, for cash and in exchange for T reasury bills m aturing N ovem ber 15, 1973, in the am ount of $4,193,285,000, as follows: 91-DAY B IL L S (to m atu rity d ate) to be issued N ovem ber 15, 1973, in th e am ount of $2,500,000,000, or there abouts, representing an additional am ount of bills dated A ugust 16, 1973, and to m ature February 14, 1974 (C U S IP No. 912793 S Y 3), originally issued in th e am ount of $1,806,875,000, th e additional and original bills to be freely interchangeable. 182-DAY B IL L S for $1,800,000,000, or thereabouts, to be dated N ovem ber 15, 1973, and to m ature M ay 16, 1974 (C U S IP No. 912793 T M 8 ). T h e bills of both series will be issued on a discount basis under com petitive and noncom petitive bidding as hereinafter provided, and a t m aturity th e ir face am ount will be payable w ithout interest. T hey will be issued in bearer form only, and in denom inations of $10,000, $15,000, $50,000, $100,000, $500,000 and $1,000,000 (m atu rity v alu e). T enders will be received a t Federal R eserve B anks and Branches up to th e closing hour, one-thirty p.m., E astern Standard Tim e, M onday, N ovem ber 12, 1973. T enders will not be received a t th e T reasury D epartm ent, W ashington. Each tender m ust be for a m inim um of $10,000. T enders over $10,000 m ust be in m ultiples of $5,000. In the case of com petitive tenders th e price offered m ust be expressed on th e basis of 100, w ith not more th an three decimals, e.g., 99.925. Fractions m ay not be used. I t is urged th a t tenders be m ade on th e p rinted forms and forwarded in th e special envelopes which will be supplied by Federal R eserve B anks or Branches on application therefor. B anking institutions generally m ay subm it tenders for account of customers provided th e nam es of th e customers are set forth in such tenders. O thers th an banking institutions will not be p erm itted to subm it tenders except for th e ir own account. T enders will be received w ithout deposit from incorporated banks and tru st com panies and from responsible and recognized dealers in investm ent securities. T enders from others m ust be accom panied by paym ent of 2 percent of th e face am ount of T reasury bills applied for, unless th e tenders are accom panied by an express guaranty of paym ent by a n incorporated bank or tru st company. Im m ediately a fter th e closing hour, tenders will be opened a t the F ederal R eserve B anks and Branches, following which public announcem ent will be m ade by th e T reasury D epartm ent of the am ount and price range of accepted bids. Only those subm itting com petitive tenders will be advised of th e acceptance or rejection thereof. T h e Secretary of the T reasury expressly reserves the right to accept or reject any or all tenders, in whole or in part, and his action in any such respect shall be final. Sub ject to these reservations, noncom petitive tenders for each issue for $200,000 or less w ithout stated price from any one bidder will be accepted in full a t th e average price (in th ree decim als) of accepted com petitive bids for th e respective issues. S ettlem ent for accepted tenders in accordance with th e bids m ust be m ade or com pleted a t the F ederal R eserve B ank on N ovem ber 15, 1973, in cash or other im m ediately available funds or in a like face am ount of T reasury bills m aturing N ovem ber 15, 1973. Cash and exchange tenders will receive equal tre a tm e n t Cash adjustm ents will be m ade for differences between the p ar value of m aturing bills accepted in exchange and th e issue price of th e new bills. U nder Sections 454 (b ) and 1221 (5 ) of th e Intern al R evenue Code of 1954 th e am ount of discount a t which bills issued hereunder are sold is considered to accrue when the bills are sold, redeem ed or otherwise disposed of, and the bills are excluded from consideration as capital assets. Accordingly, th e owner of T reasury bills (other th an life insurance com panies) issued here under m ust include in his income tax return, as ordinary gain or loss, th e difference between th e price paid for th e bills, w hether on original issue or on subsequent purchase, and the am ount actually received eith er upon sale or redem ption a t m atu rity during the taxable year for which th e return is made. T reasury D epartm ent Circular No. 418 (cu rren t revision) and this notice, prescribe th e term s of th e T reasury bills a n d , govern the conditions of th e ir issue. Copies of th e circular m ay be obtained from any Federal R eserve B ank or Branch. In accordance w ith the a b o v e announcem ent, tenders w ill be received a t this b a n k an d its branches a t El Paso, Houston an d San Antonio up to tw e lve -th irty p.m., Central Standard Time, M o n d a y, N ovem ber 12, 1973. Tenders m ay not be entered by telephone. Yours very truly, P. E. C oldw ell President Figures concerning offering of 9 1 -Day Treasury Bills maturing February 7, 1974 a n d 182-Day Treasury Bills maturing May 9, 1 974, not av ailab le when this circular w as printed. (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 August 16,1973 Maturing February 14,1974 To: Federal Reserve Bank, Station K, Dallas, Texas 75222 or — The--------------------------------------- Branch El Paso 79999 Houston 77001 San Antonio 78295 (D ate) 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 TENDER $__________________________________________NOT TO EXCEED $200,000 Noncompetitive tenders for $200,000 or less from any bidder, without stated price, will be accepted in full at the average price (in three decimals) of accepted competitive bids. $ 1$ ■ COMPETITIVE TENDERS <$$ 1$ $ /7h <E> (a) (a) fa) $ Prices should be ex p ressed on the basis of 100, with not more than three decimal places, e.g., 99.925. F ra ctio n s must not be used. £ $ $ TENDERS MAY NOT BE ACCEPTED BY TELEPHONE. TENDERS BY WIRE, IF RECEIVED BEFORE THE CLOSING HOUR ARE ACCEPTABLE. " Denominations Desired Payment for this issue of bills cannot be made by credit to Treasury Tax and Loan Account METHOD OF PAYMENT N u m b er of pieces M aturity Value 10,000 $■ 15,000 $■ □ 50,000 ?• -(S!$ 100,000 * □ □ .(2)$ 500,000 $■ M $1 ,000,000 □ $ -(5)$ By maturing bills held by---------------------------------------------Payment to be made by Charge our reserve account on payment date Draft enclosed (E ffectual delivery o f enclosed d ra ft sh all be on la te st day w hich w ill p e rm it p re sen tm en t in o rd e r to o b tain irrevocably collected fu n d s on p ay m e n t date) Delivery Instructions: □ Hold in Custody — General Account (S u b scrib er’s fu ll n am e o r co rp o ra te title ) □ Hold in Custody — Investment Ac count (A ddress) □ □ Hold in Custody — Trust Account Pledge to secure Treasury Tax and Loan Account □ Other____________________________ By. (A uthorized official s ig n a tu re an d title) (F o r th e acco u n t of, if te n d e r is fo r a n o th e r su b scrib er) (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 (maturity 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 matters 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 byan 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 that 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 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. 6. 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