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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 ITE D S T A T E S

Dallas, Texas, September 24, 1952

PRELIMINARY ANNOUNCEMENT
TAX ANTICIPATION SERIES-TREASURY BILLS

To All Banking Institutions and Others Concerned,
in the Eleventh Federal Reserve District:

There is quoted below a press statement issued today by the Treasury
Department in regard to a special offering of Treasury bills:
“ Secretary of the Treasury Snyder announced today that tenders
will be accepted on October 3, 1952, of bids to an issue of 161-day
Treasury bills in the amount of $2,500,000,000, to be dated October 8,
1952, and to mature on March 18,1953. These bills will be designated
‘Tax Anticipation Series’ and will be acceptable at face value in
payment of income and profits taxes due on March 15, 1953. Pay­
ment for such bills will be made in cash on the date of issue, except
that any qualified depositary may make payment by credit in its
Treasury Tax and Loan Account for Treasury bills allotted to it
for itself and its customers up to any amount for which it shall be
qualified in excess of existing deposits. Formal invitation for ten­
ders will be issued on September 26, 1952.
“ These bills are being issued to meet anticipated cash require­
ments of the Treasury; and to the extent that they are not presented
in payment of income and profits taxes due on March 15, 1953, they
will be paid in cash at maturity.
“ Secretary Snyder also announced that this is the first step in
the Treasury’s fall tax bill financing program. The Treasury antici­
pates that further tax bills will be offered later in the year, but
that the next offering is not likely to take place until some time in
November.”
The formal invitation for tenders and forms will be placed in the mail
as soon as available so as to reach all banking institutions in time for ten­
ders to be submitted by October 3, the date on which they will be accepted.
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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