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FEDERAL RESERVE BANK OF DALLAS FISCAL AGENT OF T H E UNITED STATES Dallas, Texas, September 25, 1953 REPORT OF SPECIAL PENALTY ENVELOPES To All Qualified Issuing Agents of United States Savings Bonds in the Eleventh Federal Reserve District: There is reproduced on the reverse hereof the First Supple ment to Fiscal Agency Operating Circular No. 1, which calls for a quarterly report concerning special penalty envelopes used for mailing savings bonds to owners or their agents on original issue. Public Law 286 approved August 15,1953, requires all depart ments and agencies of the Government to reimburse the Post Office Department for articles placed in the mails bearing the penalty indicia. In order to comply with the law, the information contained in your report will be combined with similar information from other sources and used as a basis for the Bureau of the Public Debt to reimburse the Post Office Department at a rate of 3c for each penalty envelope used. The Treasury Department has requested that all concerned exercise care in the use of special penalty envelopes and in the development of data relating to the number thereof used during each quarterly period. Your cooperation in mailing your September 30 report on the enclosed form, to reach this bank by October 5, will be appreci ated. If you do not use penalty envelopes, please insert the name of your institution and the word “ None” on the report form and return it for our information. Yours very truly, W. D. GENTRY First Vice President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE BANK OF DALLAS Fiscal Agent of the United States Fiscal Agency Operating Circular No. 1 First Supplement September 25, 1953 REPORT OF SPECIAL PENALTY ENVELOPES 52. Each qualified issuing agent shall furnish, not later than the fifth day o f the following month, a quarterly report as o f March 31, June 30, September 30, and December 31 o f the number o f special penalty enve lopes used for mailing savings bonds to owners or their agents on origi nal issue. Forms for submitting the report will be furnished agents prior to the close o f each quarter. These forms will call for the following inform ation: (1 ) Number o f penalty envelopes spoiled or destroyed during the quarter. ( 2 ) Number o f penalty envelopes on hand at the end o f the quarterly period. This reporting procedure does not affect the present practice o f issuing agents mailing bonds on original issue in the special penalty envelopes, but is for the purpose o f obtaining information to be used as a basis for the Bureau o f the Public Debt to reimburse the Post Office Department at a rate o f 3^ fo r each penalty envelope used in mailing savings bonds.
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