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FE D E R A L R E S E R V E BANK O F DALLAS
F IS C A L A G EN T O P T H E U N IT E D ST A T E S

Dallas, Texas, November 17,1944

To AD Banking Listitutions in the
Eleventh Federal Reserve District:
There are enclosed several copies of a booklet describing briefly the
issues of Government securities to be oifered during the Sixth War Loan
Drive and containing a table for ready reference in computing accrued
interest on the marketable securities offered. The booklet is not intended for
general distribution but rather for reference purposes by officers and
employees of banks during discussions with prospective purchasers.
Additional copies of the booklet will be fowarded from this bank upon
request.
Yours very truly.
R. R. GILBERT
President

^5 T R
Jfc^IC 0 Y
BUY
UN I T E D
STATES

WAR

nONDS

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

Sixth War Loan
Securities

___________

^k
t

W l
NOVEMBER 20 TO
DECEMBER 16, 1944

C o n ten ts
DESCRIPTIONS OF ISSUES

PAGES

2*/2 % Treasury

Bonds
of 1966-71...............
:...4
2% Treasiny Bonds
of 1952-54.........................................5
J V %Treasvuy Notes
4
of Series C-1947............................... 6
% Certificates of Indebtedness
%
of Series H-1945...............................7
United States War Savings Bonds,
Series E...............................
8
United States Savings Bonds,
Series F........................................ 10
United States Savings Bonds,
Series G........................................12
Treasury Savings Notes,
Series C..................
14
TAX STATUS—ALL ISSUES..... ........................................ 3

................... 2

SIXTH WAR LOAN INFORMATION

REGISTRATION INSTRUCTIONS...................................... 3

....................... 16

COMPUTATION OF INTEREST

— WAK FDfANCE COMUTTEE-----

S IX T H

W AR

LO AN

IN F O R M A T IO N

NATIONAL QUOTAS: The national quota in the 6th
War Loan is $14 Billion, $5 Billion for individuals alone.
During the period from November 20 to December 1, only
sales to individuals will be reported by the Treasury,
although subscriptions will be received from o|H |onbanking investors during the entire period of th ^ ^ lv e .
The campaign to sell to individuals will be supple­
mented, starting December 1, with an intensive campaign
to sell to all other non-banking investors. Sidsscriptions
for Savings Bonds and Savings Notes processed through
the Federal Reserve Banks between November 1 and
December 31 will be counted towards the drive.

ALLOCATIONS: As in previous War Loans, large busi­
ness organizations may allocate credit for their company
purchases to branches in any county or community for
inclusion in local quotas. The requests must be made at
the time of the original purchase on Federal Reserve
forms provided for that purpose. Subscriptions from
insurance companies will be credited only to the state
in which the company has its home office.
To avoid unnecessary transfers of funds from one
locality tp another, the Treasury again urges that all
subscriptions by corporations and firms be entered and
paid for through the banking institutions where funds
are located. This request is made to prevent disturbance
to the money market and the banking situation,

BANKS HOLDING TIME DEPOSITS:

Concurrently
with the Sixth V/ar Loan drive, but not as a part of it,
commercial banks will be permitted to subscribe to the
2% and 2Vi% Treasury bonds, as well as to Series F
and Series G bonds, in limited amounts for the invest­
ment of their time deposits, under a formula prescribed
in the official offering circulars. No bank shall hold more
than $100,000 (issue price) of Series F and SfMS G
Savings Bonds (Series 1944) combined.

BANK LOANS: The Treasury again requests the coopera­
tion of all banking institutions in declining to make spec­
ulative loans for the purchase of Government securities.
The Treasury is in favor of the banks making loatm to
facilitate permanent investment in Government securi­
ties provided that such loans are made in accord with
the joint statement issued by the National and State
Supervisory Authorities which states that ''Such loans
will not be subject to criticism, but should be on a short
term or amortization basis, fully repayable within peri­
ods not exceeding six months!'

TRADING RESTRICTIONS: The Treasury requests
that there be no trading in the new marketable securities
and no purchase of such securities other than on direct
subscription until after the closing of the drive.

R e g istra tio n of
U nited S tates G overnm ent S ecu rities
SUGGESTIONS

Du^^^ the tremendous volume of sidssciiptions for bonds
tt
rill
wli^^wi! be received during the Sixth War Loan Drive, it
is e'BRhtial that everyone concerned lend his support to the
^m atii
attempt to ehminate all possible errors and thereby minimize
delays in the delivery of purchaser's bonds. Attention to the
following will be appreciated:
Some of the issues are similar in name but no confimion
will result if they are described as follows:

1.
2.
3.
4.
5.
6.
. 7.
8.

''Series E Wax Bonds"
''Sexies F Savings Bonds"
''Sexies G Savings Bonds"
"21/2% Treasury Bonds"
"2% Treasury Bonds"
"li/ 4% Treasury Notes"
"7/a% Certificates"
"Series C Savings Notes"

Of the above named issues, the first three are issued in
registered form only and registration instructions must there­
fore be given. Be sure that a correct post office address is
obtained. The purchaser of any of these three may, if he so
desires, name either (but not both) a co-owner or a bene­
ficiary. Note: Since both Series G Savings Bonds and 2Vi%
Treasury Bonds are current interest bonds at the rate of
2 V % but are otherwise very different in terms, great care
2
should be taken to avoid confusion.
The two issues of "Treasury Bonds" are available in
either registered or bearer form. If the former is desired,
registration instructions should be given.
The "lV 4 % Treasury Notes" and the "%% Certificates"
a r^ |v a ila b le in bearer form only. The "Series C Savings
Nc^^Bare inscribed in the name of the owner.
Subscriptions should be forwarded promptly, for delay in
the receipt of orders for savings bonds or savings notes
may result in incorrect dating, while a delay in the receipt
of orders for Treasury Bonds, Notes or Certificates may
result in a charge for additional interest or a refusal of
acceptance of the order.
Normally, deliveries will be made by mail to the address
of the purchaser and this is the preferable method but other
means can be used if desired and clearly stated.

TAX STATUS
The income on all Sixth War Loan issues is subject to all
Federal taxes, and the securities are subject to estate,
inheritance, gilt or other excise taxes. Federal or State, but
are exempt from all taxation imposed on the principal or
interest by any State or local taxing authority.

UNITED STATES OF AMERICA

.

2V^ Percent Treasnry Bonds of 1966-71
Dated December 1, 1944—
Due March 15, 1971
Interest payable March 15 and September 15.
Price: Par and accrued interest.
Interestj^3^%

PRINCIPAL FEATURES:
1. DENOMINATIONS: $500,
$100,000 and $1,000,000.

$1,000,

$5,000,

$10,000,

2. FORM OF ISSUE: Bearer bonds with interest coupons
attached, and bonds registered as to principal and
interest. Interchangeable.
3. REDEMPTION: Non-callable until March 15, 1966; then
and thereafter at par and accrued interest, on any inter­
est date, at the option of the United States, on four
months' notice.
4. SPECIAL FEATURE: Upon death
may be redeemed, at the option
representatives of the deceased
and accrued interest for the
Federal estate taxes.

of owner, these bonds
of the duly constituted
owner's estate, at par
purpose of satisfying

5. COLLATERAL: These bonds can be used as collateral
for loans.
6. MARKETABILITY: These bonds will be readily market­
able on and after December 18, 1944.
7. WHO MAY BUY: Investors of all types may purchase
but the amount commercial banks may subscribe for
and hold for their own account is limited and is in pro­
portion to the amount of savings deposits held by these
banks. Except for this such banks may not hold them
for their own account before December 1, 1954.
8. WHERE TO SUBSCRIBE: Federal Reserve B a ^ ^ n d
branches and at the Treasury Department, WamBgton.
Banking institutions may submit subscriptions for the
account of customers.
9. AMOUNT INVESTOR MAY BUY: There is no limit except
on purchases by commercial banks.
10. SUBSCRIPTION PRICE: In the case of a subscription for
$500 or $1,000, the subscription price is par throughout
the drive. In the case of all subscriptions in excess of
$1,000, the subscription price is par and accrued interest
from December 1, 1944. One day's accrued interest is
$0,069 per $1,000, and a computation of interest table
appears on page 16.

S in c e th e a b o v e d e s c rip tio n is o n ly a s u m m a riz a tio n , r e f e r ­
e n c e is m a d e to th e o f f ic i a l c ir c u la r f o r d e t a ile d in fo r m a t io n .

UNITED STATES OF AMERICA

2 Percent Treasury Bonds of 19S2-S4
Dated December 1, 1944—
Due December 15, 1954
Price: Par and accrued interest.

Interest: 2%

PR!VCIPAL FEATURES:
1. DENOMINATIONS: $5Q0, $1,000, $5,000, $10,000, $100,000
and $1,000,000.
2. FORM OF ISSUE: Bearer bonds with interest coupons
attached, and bonds registered as to principal and inter­
est. Interchangeable.
3. REDEMPTION: Non-callable until December 15, 1952;
then and thereafter at par and accrued interest, on any
interest date, at option oi the United States, on four
months' notice.
4. COLLATERAL: These bonds can be used as collateral for
loans.
5. MARKETABILITY: These bonds will be readily market­
able on and after December 18, 1944.
6. WHO MAY BUY: Investors of all types may purchase
but the amount commercial banks may subscribe for and
hold for their own account is limited and is in proportion
to the amount of savings deposits held by these banks.
Commercial banks may buy these bonds in the open
market on and after December 18, 1944.
7. WHERE TO SUBSCRIBE: Federal Reserve Banks and
branches and at the Treasury Department, Washington.
^ ^ n k in g institutions may submit subscriptions for the
^^ K o u n t of cimtomers.
8. AMOUNT INVESTORS MAY BUY: There is no limit
except on purchases during the drive by commercial
banks.
SUBSCRIPTION PRICE: In the cose of a subscription for
$500 or $1000, the subscription price is par throughout
the drive. In the case of subscriptions in excess of $1000,
the subscription price is par and accrued interest from
December 1, 1944. One day's accrued interest is $0,055
per $1000, and a computation of interest table appears
on Page 16.

S in c e th e a b o v e d e s c rip tio n is o n ly a s u m m a riz a tio n , r e fe r ­
e n c e is m a d e to th e o f f ic ia l c ir c u la r f o r d e ta ile d ird o rm a tio n .

UNITED STATES OF AMERICA

l H P e rc e n t T reasn ry N otes
of S eries C-1947
Dated and bearing interest irom December 1. 1944
Due September 15. 1947
bsued in bearer form only.
Interest payable March 15 ond September 15.
Price: Por ond accrued interest.

Interest; 1V %
<

PRmCIPAL FEATURES:
1. DENOMINATIONS: $1,000. $5,000. $10,000, $100,000 and
$ 1,000 , 000 .

2. FORM OF ISSUE: Bearer notes, with interest coupons
attached. These notes will not be issued in registered
form.
3. REDEMPTION: Not subject to call for redemption prior
to maturity.
4. COLLATERAL: These notes con be used as collateral for
loans.
5. MARKETABILITY: These notes will be readily market­
able on and after December 18, 1944.
6. WHO MAY BUY: Investors of all types except commer­
cial banks which are not pemoitted to subscribe for the
notes for their own account but may purchase them in
the open market after the close of the drive.
7. WHERE TO SUBSCRIBE: Federal Reserve Banks and
branches and at the TVeasury Department, Washington.
Banking institutions may submit subscriptions f o r t h e
accoimt of customers.
^^^
8. AMOUNT INVESTOR MAY BUY: There is no linut to the
amount eligible purchasers may buy.
9. SUBSCRIPTION PRICE: Par and accrued interest. One
day's accrued interest is $0,035 per $1000, and a compu­
tation of interest table appears on Page 16.

Since the above description is only a sununarization, refer­
ence is made to the official circular for detailed irdormation.

UNITED STATES OF AMERICA

Vs P e rc e n t

T re a su ry C e rtifica te s of
In d e b te d n e ss of S eries H-194S
Dated and bearing interest from December 1, 1944
Due December 1, 1945
^st payable on Iune 1. 1945 and December 1, 1945

*

Price: Par and accrued interest.

Interest: Va%

PRINCIPAL FEATURES:
1. DENOMINATIONS: $1,000, $5,000, $10,000, $100,000 and
$ 1 000,000.
,

2. BEARER FORM: Certificates will be issued in bearer
form only, with two coupons attached.
3. REDEMPTION: Not subject to call for redemption prior to
maturity.
4. COLLATERAL: These certificates can be used as col­
lateral for loans.
5. MARKETABILITY: These certificates will be readily
marketable on and after December 18, 1944.
6. WHO MAY BUY: Investors of all types except commer­
cial banks who are not permitted to subscribe for the
certificates for their own account but may purchase them
in the open market on and after December 18, 1944.
7. WHERE TO SUBSCRIBE: Federal Reserve Banks and
branches and at the Treasury Department, Washington.
Banking institutions may submit subscriptions for the
account of customers.
UNT INVESTOR MAY BUY: There is no limit to the

f tunt eligible purchasers may buy.
9. SUBSCRIPTION PRICE: The subscription price is par and
accrued interest from December 1, 1944. One day's
accrued interest is 30.024 per $1000, and a computation
of interest table appears on page 16.

Since the above description is only a sumnnarization. refer­
ence is made to the official circular for detailed irdormation.

U n ite d

S ta te s

W af

S a v in g s

Bonds

S e r ie s E

Dated the first day oi the month in which
payment is received.
Due 10 years from issue date.
Price: 75% of maturity value.
Yield: About 2.9% compounded semi-annually •
if held to maturity.
PRINCIPAL FEATURES:
1. DENOMIN,\TIONS: (maturity value)
$25

$18.75

$500 .
$50
$100
Corresponding issue (cost) value
$37.50
$75
$375

$1000

$750

2. REGISTRATION: Issued in registered form only, not transfer­
able. Moy be registered in the name of one individual, in the
names of two (but not more than two) individuals as co­
owners, or in the name of one individual payable on death
to one other designated individual.
3. REDEMPTION; Non-colloble prior to maturity. At the option
of the owner, however, they may be redeemed crt any time
after 60 days from the issue date without advance notice o
rt
values shown in the table on the opposite page.
4. COLLATERAL: These bonds may not be used os collateral.
5. MARKETABILITY; They cannot be sold, but, as stated in
paragraph 3 above, can be converted into cash, at any in­
corporated bank or trust company which has qualified as a
paying agent, or at any Federal Reserve Bonk, or Branch,
or at the Treasury Department.
6. WHO M A Y BUY: hidividuals only.
7. WHERE TO BUY: The bonds are continuously available for
purchase at most commercial and savings banks, savmo^md
loan associations, post offices, and at other qualifie|^MeD
cles, including many retail stores, theatres ond ra^^Ho
tions, or at ony Federal Reserve Bank or branch or^n the
Treasury Department, Washington. Purchase applications
must be accompanied by payment of the purchase price in
full.
8. LIMIT OF OWNERSHIP: There is a limit of $5,000 maturity
value, or $3,750 cost price, for each calendar year, of bonds
originally issued during that year to and held by any one
person, including bonds issued to that person individually,
or to him with another as co-owner. However, in computing
holdings, bonds issued to coK>wners moy be applied to either
or apportioned between them.
9. INTEREST PAYMENTS: None. Literest accrues by virtue of
increases in redemption value after the first yeor ond at the
end of each half-year period thereafter vmtil redemption or
motmity. These bonds become increasingly valuable as
investments the longer they are held.
S in c e th e a b o v e d e s c rip tio n is o r d y a s u m m a riz a tio n , r e fe r ­
e n c e is m a d e to th e o f f ic ia l c ir c u la r f o r d e ta ile d in fo r m a tio n .

U nH ed

S ta te s

W af
S e r ie s

S a v in g s

Bonds

E

TABLE OF REDEMPTION VALUES
AND INVESTMENT YIELDS
Yields are expressed in terms oi rate per­
cent per annum, compounded semiannually.
Reference is made to the official circular
for examples of other denominations.

pproxim
ate
$50.00 $100.00 A
investm
ent
$37.50 $75.00 yield onpur­
chase price
fromissue
date to be­
Redemption values during each ginning of
Period aher issue
haU-year period
date
each halfyear period
P ercen t
0.00
First 1 / 2 y ear......... $18.75 $37.50 $75.00
37.50
75.00
.00
18.75
1 / 2 to 1 y ear..........
75.50
.67
37.75
1 to 1 1 / 2 years...... 18.87
38.00
76.00
.88
19.00
1 1 / 2 to 2 years.....

Maturity Value .. $25.00
Issue P ric e ............ $18.75

2 1 / 2 years.....
to 3 years.....
3 to 3 1 / 2 years.....
3 1 / 2 to 4 years.....

19.12
19.25
19.50
19,75

38.25
38.50
39.00
39.50

76.50
77.00
78.00
79.00

.99
1.06
1.31
1.49

4 to

4 1 / 2 years.....
to 5 years.....
5 to 5 t/ 2 years.....
5 1 / 2 to 6 years......

20.00
20.25
20.50
20.75

40.00
40.50
41.00
41.50

80.00
81.00
82.00
83.00

1.62
1.72
1.79
1.85

6
to 6 l/ 2
6V2 to 7
7 to 7 1 / 2
7 1 / 2 to 8

years.....
yearS......
years......
years.....

21.00
21,50
22.00
22.50

42.00
43.00
44.00
45.00

84.00
86.00
88.00
90.00

1.90
2.12
2.30
2.45

8 t0 8 t/2 years.....
| ^ n ^ 9 years.....
9 ^ ^ i /2
years......
91^ to 10 years. ..

23.00
23.50
24.00
24.50

46.00
47.00
48.00
49.00

92.00
94.00
96.00
98.00

2.57
2.67
2.76
2.84

$25.00

$50.00 $100.00

2.90

2 to
2 1 /2

4 1 /2

MATURITY
VALUE

(10 Y fro
ears m
issue date).......

United States Savings BoA
ds
Seiies F
Dated the iirst day of the month in which
payment is received.
Due 12 years from issue date.
Price: 74% of maturity value.
Yield; About 2.53% compounded semi<mnually,
if held to maturity.

PRINCIPAL FEATURES:
1. DENOMINATIONS: (maturity value)
$25
$100
$500 $1,000
$5,000 $10,000
Corresponding issue (cost) value
$18.50 $74
$370
$740 $3,700 $7,400
2. REGISTRATION: Issued in registered form only, not
transferable. May be registered in the name of one
individual, in the names of two (but not more than two)
individuals as co^wners, in the name of one individual
payable on death to one other designated individual, in
the name of a fiduciary, the owner or custodian of public
funds, or any incorporated or unincorporated body.
3. REDEMPTION: These bonds cannot be called before
maturity. At the option of the owner, however, they may
be redeemed on the first day of any calendar month
after six months from the issue date, upon one month's
written notice at values shown in the table on the oppo­
site page.
4. COLLATERAL: These bonds may not be used as col­
lateral.
5. MARKETABILITY: They cannot be sold, but, as stated in
paragraph 3 above, can be converted into cash, at any
Federal Reserve Bank, or Branch, or at the Treasury
Department.
6. WHO MAY BUY: Anyone (see paragraph 2). However,
commercial banks may invest only a limited part of their
savings deposits in these bonds.
7. WHERE TO SUBSCRIBE: The bonds are continuoul
sale at the Federal Reserve Banks and Branches and at
the Treasury Department. Banks and other sales agencies
may forward applications for customers. All applications
must be accompanied by payment in full of the issue
price.
8. AMOUNT INVESTOR MAY HOLD: No owner may at any
time hold more than $100,000 (issue price) of Series G
and Series F bonds in the aggregate originally issued
to him, alone or with a co-owner in any one calendar
year.
9. INTEREST PAYMENTS: None. Interest accrues by virtue
of increases in redemption value after the first year and
at the end of each half-year period thereafter until re­
demption or maturity. These bonds become increasingly
valuable as investments the longer they are held.
S in c e th e a b o v e d e s c rip tio n is o n ly a s u m m a riz a tio n , r e f e r ­
e n c e is m a d e to th e o f f ic ia l c ir c u la r f o r d e ta ile d in fo rm a tio n .

10

United States Savings Bonds
Seiies F
TABLE OF REDEMPTION VALUES
AND INVESTMENT YIELDS

PYielda are expressed in terms of rate percent
per onniun. compounded semionnuoUy.
Reference is made to the official circular
for examples of other denominations.
pprorim
ste
Matiurity Value..... $25.00 $ 1 0 0 . 0 0 $500.00 A
investm
ent
bsue Price............ $18.50 $74.00 $370.00 yield on pur­
chase price
fromissue
date to be­
Redemption values during each ginning of
P*riod after iM
ue
haU-yeai penod
data
each halfyear period
P e rc e n t

First i/ 2 y ear......... Not redeemable .
$18.50 $74.00 $370.00
1 / 2 to 1 y ear..........
74.20 371.00
18.55
1 to lV 2 years.....
18.62
74.50 372.50
li / 2 to 2 years.....

0 .0 6

.27
.45

years.....
years.....
years.....
years.....

18.72
18.85
19.00
19.17

74.90
75.40
76.00
76.70

374.50
377.00
380.00
383.50

.61
.75
.89
1.03

4 1 / 2 years.....
to 5 years.....
5 to 5 i/ 2 years.....
5 1 / 2 lo 6 years.....

19.40
19.65
19.92
20.22

77.60
78.60
79.70
80.90

388.00
393.00
398.50
404.50

1.19
1.34
1.49
1.63

to 6 l/ 2
i/ 2 to 7
7 to 7 1 / 2
7 1 /2 to 8

20.55
20.87
21.20

82.20
83.50
84.80

21.52

86.10

411.00
417.50
424.00
430.50

1.76
1.87
1.96
2.03

l to 9 years.....
9 j^ ^ V 2 years.....
9^ ^ ^ 10years..

21.85
22.17
22.50
22.85

87.40
88.70
90.00
91.40

437.00
443.50
450.00
457.00

2.09
2.14
2.19
2.24

10 to lOi/2
lOi/ 2 to 11
11 to llV 2
1 1 1 / 2 to 12

23.22
23.62
24.05
24.50

92.90
94.50
96.20
98.00

464.50
472.50
481.00
490.00

2.29
2.34
2.40
2.46

$25.00 $100.00 $500.00

2.53

to 2 i/ 2
i/ 2 to 3
3 to 3 i/ 2
3 1 / 2 lo 4

2
2

4 to

4 1 /2

6

6

8

to

8

years.....
years.....
years.....
years.....

V years
2

8 /2

^K^

years
years
years
years .

M ATURITY
VALUE
(12 Years from
issue date)..........

I

1
1

United States Savings Bonds
Seiies G
Dated first day of the month in which payment is received
Due 12 years from issue date.
Price: 100%

Yield: 2.50% if held to m7fKrity

Interest payable semi-aimually by Treasury check.

PRINCIPAL FEATURES:
1. DENOMINATIONS: $100, $500, $1,000, $5,000 and $10,000.
2. REGISTRATION: Issued in registered form only, nbt
transferable. May be registered in the name of one
individual, in the names of two (but not more than two)
individuals as co-owners, in the name of one individual
payable on death to one other designated individual, in
the name of a fiduciary, the owner or custodian of public
'iunds, or any incorporated or unincorporated body.
3. REDEMPTION: These bonds carmot be called before
maturity. At the option of the owner, however, they may
be redeemed on the first day of any calendar month
after six months from the issue date, upon one month's
written notice, at values shown in the table on the
opposite page.
4. SPECIAL FEATURE: Upon the death of the owner, or
co-owner, if a natural person, or if held by a trustee or
other fiduciary, upon the death of any person which
results in the termination of the trust. Series G bonds may
be redeemed at pdr, if application for redempiton at par
is actually received within four months after the date of
death. If the trust is terminated only in part, redemption
at par will be made only to the extent of the pro rota
portion of the trust so terminated, to the next lower
multiple of $100.
5. COLLATERAL: These bonds may not be used as col­
lateral.
6. MARKETABILITY: These bonds cannot be so ld ,JttL as
stated in paragraph 3 above, can be converted id^^psh,
at any Federal Reserve Bank, or Branch, or cn the
Treasury Department.
7. WHO MAY BUY: Anyone (see paragraph 2). However,
commercial banks may invest only a limited part of
their savings deposits in these bonds.
8. WHERE TO SUBSCRIBE: The bonds are continuously on
sale at the Federal Reserve Banks and Branches and at
the Treasury. Department. Banks and other sales agencies
may forward applications for customers. All applications
must be accompanied by payment in full of the issue
price.
9. AMOUNT INVESTOR MAY HOLD: No owner may at any
time hold more than $100,000 (issue price) of Series G
and Series F bonds in the aggregate originally issued to
him, alone or with a co-owner in any one calendar year.
S in c e th e a b o v e d e s c rip tio n is o n ly a s u m m a riz a tio n , r e f e r ­
e n c e is m a d e to th e o f f ic ia l c ir c u la r f o r d e ta ile d in fo rm a tio n .

1
2

Utfited States Savings Bonds
Seiies G
Current income bonds, issued at par. Interest at 2'/2%
p^Mnnum payable semi<mnually by Treasury check mailed
td^^B ow ner.

If redeemed prior to maturity, the yield is less than 2 V %
2
as shown in the following table. Yields are expressed in
terms of rate percent per annum and take into account the
interest received in semiKinnual payment prior to redemp­
tion.
Reference is made to the official circular for examples
of other denominations.
pproxim
ate
$1,000 A
investm
ent
$1,000 yield on pur­
chase price
fromissue
date to beRedemption values during each ginninKof
half-year period
each half
year period
P ercen t
Not redeemable
0.10
$98.80 $494.00
$988
.30
97.80 489.00
978
96.90 484.50
969
.44

Maturity Value..... $ 1
$1
Issue Price.......
Period after issue
date
First 1 / 2 y©cir.........
1 / 2 to 1 y ear..........
1 to 1 1 / 2 years.....
1 1 / 2 to 2 years.....

0 0 .0 0

0 0 .0 0

$500.00
$500.00

2 1 / 2 years.....
to 3 years.....
3 to 3 1 / 2 years.....
3 1 / 2 to 4 years.....

96.20
95.60
95.10
94.80

481.00
478.00
475.50
474.00

962
956
951
948

.61
.75
.88
1.04

4 to

4 t2
/
years.....
to 5 years_
_
5 to 5 1 / 2 years.....
5 1 / 2 to 6 years.....

94.70
94.70
94.90
95.20

473.50
473.50
474.50
476.00

947
947
949
952

1.20
1.35
1.51
1.66

to. 6 t/ 2
V2 to 7
^ i^ 7 V
2
^ ^ ^ 0
8

years.....
years......
years.....
years.....

95.50
95.80
96.10
96.40

477.50
479.00
480.50
482.00

955
958
961
964

1.79
1.89
1.98
2.05

to 8 V years.....
2
i/ 2 to 9 year 6 .....
9 to 9 t/ 2 yedrs.....
9 t2
/
to 10 years

96.70
97.00
97.30
97.60

483.50
485.00
486.50
488.00

967
970
973
976

2.12
2.18
2.23
2.27

10 to lOV2 years
lOt/ 2 to 11 years
11 to llV 2 years.,
1 1 1 /2
to 12 years..
MATURITY
VALUE

97.90
98.20
98.60
99.20

489.50
491.00
493.00
496.00

979
982
986
992

2.31
2.35
2.39
2.44

$1,000

2.50

2 to
2 1 /2

4 1 /2

6

6

8

8

(12 Y fro
ears m
issue d
ate)

$100.00 $500.00

13

UNFTED STATES OF AMERICA

T R E A S U R Y S A V IN G S N O T E S S E R IE S C
Dated first day of month in which paid for.
Due 3 years from issue date.
Acceptable ot por and accrued interest in payment
»^^^
Federal income, estate, and gift taxes during ond
after second calendar month after month of pmchase.
Redeemable for cash before maturity, as shown below.
Price; 100%

Yield: 1.07% if held to maturity.

PRINCIPAL FEATURES:
1. DENOMINATIONS: $100, $500, $1,000, $5,000, $10,000,
$100,000, $500,000, $1,000,000.
2. REGISTRATION: Each note will be inscribed in the
name of a single owner.
3. REDEMPTION: These notes cannot be called before
maturity. At the option of the owner, however, they may
be redeemed at any time during and after the sixth
calendar month after the month of issue, without advance
notice, for cash at par and accrued interest, except that
notes inscribed in the name of a bank that accepts
demand deposits are redeemable at par only.
4. COLLATERAL: These notes can be used as collateral for
loans from banking institutions only. If a bank acquires
a note through the failure of a loan to be paid, the note
may be redeemed by the bank at any time at par plus
accrued interest to the month in which the note is
acquired.
5. ACCEPTABLE FOR TAXES: Notes may be presented by
the owner (including a bank that accepts demand de­
posits) for Federal income, estate and gift taxes at par
and accrued interest during and after the second cal­
endar month after the month of purchase.
6. WHO MAY BUY: Individuals, banks, other corporl^^s,
public bodies, trusts, etc. (Note: The notes may not be
inscribed in names of joint owners or co-owners, and
notes inscribed in name of partnership may not be used
in payment of Federal Taxes.)
7. WHERE TO BUY: The notes are continuously available
for purchase at 100% at any Federal Reserve Bank, or
Branch, or at the Treasury Department. Purchase appli­
cations must be accompanied by payment of the purchase
price in full.
8. AMOUNT INVESTOR MAY BUY. Unlinuted.
9. INTEREST. Interest accrues each month after month of
issue on a graduated scale as shown in the table on the
opposite page.
S in c e th e a b o v e d e s c rip tio n is o n ly a s u m w a r iz a tio n . r e f e r ­
e n c e is m a d e to th e o f f ic ia l c ir c u la r f o r d e ta ile d in fo r m a tio n .

14

____

*h

T reasury Savings Notes, Series C
TABLE OF TAX-PAYMENT OR REDEMPTION VALUES
AND INVESTMENT YIELDS
^ a f e z e n c e is m a d e to th e o ffic ia l circu la z for e x a m p le s
o f o th er d en om irm tiorm .

P ar V alue (issue price
during month of issue)

A m o u n t o f in t e r e s t ac­
c ru a l e a c h month after
month of issue

Approxinuite
investment
yield on
par amount
from issue
date to
Tax-Paym ent or Redemp­
tion v alu es d uring e a c h beginning of
eachmonthly
monthly period after
period
month of issuet
thereafter.

$1 ,0 0 0 .

Interest a c cru es a t ra te
of $0.50 per month per
$1,000. p a r am ount
First month..................................... $1,0 0 0 .5 0
Second m onth...............................
1,001.00
Third m onth..................................
1,001.50
Fourth m onth.................................
1,002.00
Fifth m onth.....................................
1,002.50
Sixth month .................................
1,003.00

$ 5 ,0 0 0 .

$5,002.50
5,005.00
5,007.50
5,010.00
5,012.50
5,015.00

.60
.60
.60
.60
.60
.60

1,003.80
1,004.60
1,005.40
1,006.20
1,007.00
1,007.80

5,019.00
5,023.00
5,027.00
5 031 00
5,035.00
5,039.00

.65
.69
.72
74
.76
.78

1,008.70
1,009.60
1,010.50
1,011.40
1,012.30
1,013.20

5,043.50
5,048.00
5,052.50
5,057.00
5,061.50
5,066.00

.80
.82
.84
.85
.86
.88

1,014.20
1,015.20
1,016.20
1,017.20
1,018.20
1,019.20

5,071.00
5,076.00
5,081.00
5,086.00
5,091.00
5,096.00

.89
.91
.92
.93
.94
.95

1,020.30
1,021.40
1,022.50
1,023.60
1,024.70
1,025.80
1,026.90
1,028.00
1,029.10
1,030.20
1,031.30
1,032.40

5,101.50
5,107.00
5,112.50
5,118.00
5,123.50
5,129.00
5,134.50
5,140.00
5,145.50
5,151.00
5,156.50
5,162.00

.97
.98
.99
1.00
1.01
1.02
1.03
1.04
1.05
1.05
1.06
1.07

Irte re st ac cru es a t ra te
of $0.80 per month p er
$1,000. p a r am ount
Seventh m onth..............................
Eighth m onth.................................
Ninth month...................................
Tenth m onth..................................
Eleventh m onth............................
Twelfth m onth...............................
Interest ac c ru e s a t ra te
of $0.90 p er month p e r
$1,000. p a r am ount
Thirteenth m onth.........................
Fourteenth m onth........................
Fifteenth m o n th ...........................
Sixteenth month....,......................
Seventeenth m onth.....................
Eighteenth m onth........................
Interest ac c ru e s a t ra te
of $1.00 p e r month per
$1,000. p a r am ount
N n ^ e e n th m onth........................
^ £ ^ ^ ^ e th month ........................
l^ ^ ^ V -first m o n th ......................
T ^SH y-second month .. ..........
Twenty-third m onth.....................
Twenty-fourth month...................
Interest a c c ru e s a t ra te
of $1.10 per month per
$1,000. p a r am ount
Twenty-fifth m onth......................
Twenty-sixth m onth.....................
Twenty-seventh m onth................
Twenth-eighth m onth..................
Twenty-ninth month....................
Thirtieth month ...........................
Thirty-first month.........................
Thirty-second month...................
Thirty-third month.......................
Thirty-fourth month.....................
Thirty-fifth month.........................
Thirty-sixth m onth.......................

(MATURITY)

iNof acceptabJe in pa ym en t oi taxes until d u rin g a n d after the
second calendar month after the month of issue, and not re­
deem able for cash until during and after the sixth calendar
month after the month of issue.

15

COMPUTATION OF INTEREST
Interest from December 1, 1944, wiU accrue on the l V 4 %
TVeasury Notes, 2% Treasury Bonds, 2V4% li^easray Bonds
and the %% Certificates.
The following table shows the amount of interest ^^|^lLle
per $1000 on each of the issues for each doy from Decem­
ber 2 to December 16. Interest should be figured to the date
on which the funds wiU be avaUable ot a Federal Reserve
Bonk or Branch, or at the Ti:easiuy.

Date
paym
ent
received
by bank

Num
ber
of
day’a
interest

Dec.
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

1
Sunday
3
4
5
6
7
8
Sunday
10
11
12
13
14
15

Notes
SeriesC
1947

m%

%
T
reasury
Bonds of
1952-64

j%
Treasury Certik»tes
Bonds of
of
1966-71 bidebtedness

$0,035

$0,055

$0,069

$0,024

0.105
0.140
0.175
0.210
0.245
0.280

0.165
0.220
0.275
0.330
0.385
0.440

0.207
0.276
0.345
0.414
0.483
0.552

0.072
0.096
0.120
0.144
0.168
0.192

0.350
0.385
0.420
0.455
0.490
0.525

0.550
0.605
0.660
0.715
0.770
0.825

0.690
0.759
0.828
0.897
0.966
1.035

0.240
0.264
0.288
0.312
0.336
0.360

2

2

4

Accrued interest is waived on subscriptions for $500 or
$1000, received during the drive for 2% Treasury B on^ or
2V^% Treasmy Bonds.
No accrued interest is payable by the purchaser of
Savings Bonds, Series E, F or G, or Savings Notes, Series C.
Subscriptioim should be forwarded promptly, for delay
in the receipt of orders may result in incorrect dating. whUe
a delay in the receipt of orders for Treasury Bonds, Notes
or Certificates, may result in a charge for additional inter­
est or a refusal to accept the order.

16