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FEDERAL RESERVE BANK OF DALLAS F IS C A L A G E N T O F TH E U N IT E D ST A T E S Dallas, Texas, October 10, 1951 PRELIMINARY ANNOUNCEMENT TAX ANTICIPATION SERIES-TREASURY BILLS To All Banking Institutions and Others Concerned, in the Eleventh Federal Reserve D istrict: There is quoted below a press statement issued today by the Treasury Department in regard to a special offering of Treasury bills: “ Secretary o f the Treasury Snyder announced today that tenders will be accepted on October 17, 1951, o f bids to an issue of 144-day Treasury bills in the amount of $1,250,000,000 to be dated October 23, 1951, and to mature on March 15, 1952. These bills will be labeled ‘TAX ANTICIPATION SERIES’ and will be acceptable in payment o f income taxes due on March 15, 1952. Payment for such bills will be made in cash on the date o f issue, except that any qualified deposi tary may make payment by credit in its Treasury Tax and Loan Account for accepted tenders submitted by it on behalf o f itself or its customers up to any amount for which it shall be qualified in excess o f existing deposits. Formal invitation for tenders will be issued tomorrow, October 11, 1951. “ These bills are being issued to meet anticipated cash require ments of the Treasury, and to the extent they are not presented in payment of income taxes due on the maturity date, they will be paid in cash at maturity. “ Secretary Snyder also announced that within the next few weeks another offering o f Treasury bills will be made to mature on June 15, 1952, which also will be acceptable in payment o f income taxes due on that date. While no amount has been set for this offering it is probable that it may be in the neighborhood o f $1,000,000,000.” The formal invitation fo r tenders and forms will be placed in the mail as soon as available so as to reach all banking institutions in time for tenders to be submitted by October 17, the date on which they are accept able. 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)
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