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FEDERAL RESERVE BANK OF DALLAS F I S C A L A G E N T O F T H E U N IT E D S T A T E S April 26,1945 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: There is printed below for your information a press statement released by the Secretary of the Treasury on April 18, 1945, regarding the redemption of United States Adjusted Service Bonds of 1945, which will mature June 15, 1945, and a. table showing the amount of United States Savings Bonds that may be purchased with the proceeds of the maturing Adjusted Service Bonds, accord ing to the number of such bonds held. FEDERAL RESERVE BANK OF DALLAS Fiscal Agent of the United States TREASURY DEPARTMENT Washington For Release, Morning Newspapers Wednesday, April 18, 1945 Secretary of the Treasury Morgenthau today reminded veterans of the First World War who hold 3 percent Adjusted Service Bonds of 1945, issued in payment of amounts due on Adjusted Service Certificates, that the bonds, which are dated June 15, 1936, will mature on June 15, 1945, when the face amount of the bonds and interest for the full nine year period will be payable. The amount due on each bond is $63.50, which includes $50 principal and $13.50 interest. No further interest will accrue after June 15. The bonds may be presented to any post office in the United States, where, after proper identi fication, the requests for payment on the backs of the bonds may be executed, that is, signed by the registered owner in the presence of the postmaster who will certify to the signature. The post master will issue a receipt for the bonds, and will forward them to the appropriate Federal Reserve Bank for payment, without charge to the veteran. The bonds, of course, may be presented by owners direct to any Federal Reserve bank or branch, or to the Treasurer of the United States, Wash ington, D. C., after the requests for payment on the backs of the bonds have been properly executed. Payment will be made, in each instance, by check drawn to the order of the registered owner and mailed to his address. Many veterans owning Adjusted Service Bonds have expressed the wish to continue their invest ment and exchange their bonds for other interest-bearing securities. While direct exchanges are not possible, the Secretary pointed out the availability of War Savings Bonds, Series E, which are on sale at post offices and commercial banks generally, and at many other agencies. Any veteran, on receiving a check in payment of his Adjusted Service Bonds, who wishes to invest the proceeds in Series E bonds should have no difficulty in applying his check to that purpose, particularly at any commercial bank where he is known or can be identified. In addition to these bonds, United States,Savings Bonds of Series F and G, which are on con tinuous sale, and, during the period of the Seventh War Loan Drive, three series of Treasury bonds, in the denominations of $500 and upwards, will be available for purchase up to June 30, when the subscription books will close. Information concerning any of these securities may be obtained from any commercial bank, which bank doubtless will be pleased to handle any subscriptions for a veteran, and, if known to the bank, or on proper identification, accept his redemption check on the purchase price. Because of the considerable number of Adjusted Service Bonds outstanding which may be presented for redemption on June 15, in order to avoid the possibility of congestion, and to insure prompt payment when due, veterans are urged to forward their bonds well in advance of that date, but not before May 15. Any Adjusted Service Bonds received on or after May 15, will be assumed to be presented for redemption on June 15, unless specific instructions for earlier redemption are given by the owner. The veterans received bonds totaling $1,847,488,400 and of these $216,909,750 remain out standing on which accrued interest to June 15 will amount to $58,565,632.50. Accordingly the value of the outstanding bonds at their maturity is $275,475,382.50. — over — This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Adjusted Service Bonds for War Savings Bonds—Series E The value of each 3 percent Adjusted Service Bond of 1945 at its maturity on June 15, 1945, is $63.50, including $50 principal amount and $13.50 accrued interest. The following table shows the value of Adjusted Service Bonds on June 15, 1945, according to the number of bonds held, and the total amount of War Savings Bonds of Series E that may be pur chased with the proceeds of redemption, together with the remaining odd amount balance. ADJUSTED SERVICE BONDS Number Value at Maturity Held $ 1 2 3 4 5 63.50 127.00 190.50 254.00 317.50 SERIES E BONDS that may be purchased Face Amount Issue Price $ 75. 150. 250. 325. 400. $ 56.25 112.50 187.50 243.75 300.00 BALANCE Remaining Odd Amount $ 7.25 14.50 3.00 10.25 17.50 381.00 444.50 508.00 571.50 635.00 500. 575. 675. 750. 825. 375.00 431.25 506.25 562.50 618.75 6.00 13.25 1.75 9.00 16.25 11 12 13 14 15 698.50 762.00 825.50 889.00 952.50 925. 1,000. 1,100. 1,175. 1,250. 693.75 750.00 825.00 881.25 937.50 4.75 12.00 .50 ' 7.75 15.00 16 17 18 19 20 1,016.00 1,079.50 1,143.00 1,206.50 1,270.00 1,350. 1,425. 1,500. 1,600. 1,675. 1,012.50 1,068.75 1,125.00 1,200.00 1,256.25 3.50 10.75 18.00 6.50 13.75 21 22 23 24 25 1,333.50 1,397.00 1,460.50 1,524.00 1,587.50 1,775. 1,850. 1,925. 2,025. 2,100. 1,331.25 1,387.50 1,443.75 1,518.75 1,575.00 2.25 9.50 16.75 5.25 12.50 26 27 28 29 30 1,651.00 1,714.50 1,778.00 1,841.50 1,905.00 2,200. 2,275. 2,350. 2,450. 2,525. 1,650.00 1,706.25 1,762.50 1,837.50 1,893.75 1.00 8.25 15.50 4.00 11.25 6 7 8 9 10 .