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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