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FEDERAL RESERVE BANK OF DALLAS
F ISC A L A G ENT O F T H E UNITED ST A T E S
D ALLA S. TEX AS 7 5 2 2 2

Circular No. 69-195
July 31, 1969

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

There is quoted below the text of a press statement issued by the Treasury
Department in regard to current financing:
TREASURY AJMOUNCES AUGUST 15 REFUNDING TERMS
The Treasury today announced that it is offering holders of
the $3>366 million of 6$ Treasury Notes of Series C-I9 6 9 ? maturing
>
August 15, 1 9 6 9 ? the right to exchange their holdings for a 7 - 3 A 1o
18-month Treasury note to be dated August 15? 19&9? to m ature
February 15? 1971? at a price of 99*90 to yield about 7*82$.
Subscribers will receive a cash payment for the difference
between the par value of the maturing notes and the offering price
of the new notes.
The public holds about $3*2 billion of the maturing notes.
Cash subscriptions for the new notes will not be received.
The books will be open for three days only, on August b through
August 6, for the receipt of subscriptions. Subscriptions addressed
to a Federal Reserve Bank or Branch, or to the Office of the Treasurer
of the United States, and placed in the mail before midnight August 6,
will be considered as timely. The payment and delivery date for the
notes will be August 15? 1969* The notes will be available in reg­
istered as well as bearer form. All subscribers requesting registered
notes will be required to furnish appropriate identifying numbers as
required on tax returns and other documents submitted to the Internal
Revenue Service.
Coupons dated August 15, 1969? on 'the maturing notes should be
detached and cashed when due. The August 15? 19&9? interest due on
registered notes will be paid by issue of interest checks in regular
course to holders of record on July 15? 1 9 6 9 ? the date the transfer
books closed.

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

Interest on the new notes will be payable on February 15 and
August 1 5 , 1970 , and February 1 5 , 1971 The official circular and subscription forms for the new issue of Treasury
notes are enclosed. Additional copies will be furnished upon request.
Yours very truly,
P. E. Coldwell
President

Enclosures

UN ITED STATES O F A M E R IC A
7%

PERCENT TREASURY NOTES OF SERIES D-1971

Dated and b a i g i t r s from August 1 , 1969
e r n neet
5

Due February 15, 1971
T R E A SU R Y D E PA R TM EN T

DEPARTMENT CIRCULAR

Office o f th e Secretary

P ublic D e b t Series N o. 5-69

W ashington, J u ly 31, 1969

I.

OFFERING OF NOTES

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended,
offers notes of the United States, designated 7% percent Treasury Notes of Series D-1971, at 99.90 percent of
their face value, in exchange for 6 percent Treasury Notes of Series C-1969, maturing August 15, 1969. Cash
payments due subscribers will be made as set forth in Section IV hereof. The amount of this offering will be
limited to the amount of eligible notes tendered in exchange. The books will be open only on August 4 through
August 6, 1969, for the receipt of subscriptions.
II.

DESCRIPTION OF NOTES

1. The notes will be dated August 15, 1969, and will bear interest from that date at the rate of 7 3 percent
A
per annum, payable semiannually on February 15 and August 15, 1970, and on February 15, 1971. T hey will
mature February 15, 1971, and will not be subject to call for redemption prior to maturity.
2. T he income derived from the notes is subject to all taxes imposed under the Internal Revenue Code
of 1954. T he notes are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but
are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any
of the possessions of the United States, or by any local taxing authority.
3. T he notes will be acceptable to secure deposits of public moneys. T hey will not be acceptable in payment
of taxes.
4. Bearer notes with interest coupons attached, and notes registered as to principal and interest, will be
issued in denominations of $1,000, $5,000, $10,000, $100,000, $1,000,000, $100,000,000 and $500,000,000. Pro­
vision will be made for the interchange of notes of different denominations and of coupon and registered notes,
and for the transfer of registered notes, under rules and regulations prescribed by the Secretary of the Treasury.
5. The notes will be subject to the general regulations of the Treasury Department, now or hereafter
prescribed, governing United States notes.
III.

SUBSCRIPTION AND ALLOTMENT

1. Subscriptions accepting the offer made by this circular will be received at the Federal Reserve Banks
and Branches and at the Office of the Treasurer of the United States, Washington, D. C. 20220. Banking insti­
tutions generally may submit subscriptions for account of customers, but only the Federal Reserve Banks and
the Treasury Department are authorized to act as official agencies.
2. Under the Second Liberty Bond Act, as amended, the Secretary of the Treasury has the authority to
reject or reduce any subscription, and to allot less than the amount of notes applied for when he deems it to be
in the public interest; and any action he may take in these respects shall be final. Subject to the exercise of that
authority, all subscriptions will be allotted in full.
IV.

PAYMENT

1. Paym ent for the face amount of notes allotted hereunder must be made on or before August 15, 1969,
or on later allotment, and may be made only in a like face amount of 6 percent Treasury N otes of Series C-1969,
which should accompany the subscription. Paym ent will not be deemed to have been completed where regis­
tered notes are requested if the appropriate identifying number as required on tax returns and other documents
submitted to the Internal Revenue Service (an individual’s social security number or an employer identification
number) is not furnished. A cash payment of $1.00 per $1,000 will be made to subscribers on account of the
issue price of the new notes. The payment will be made by check or by credit in any account maintained by a
banking institution with the Federal Reserve Bank of its district, following acceptance of the maturing notes.
In the case of registered notes, the payment will be made in accordance with the assignments on the notes sur­
rendered. When payment is made with notes in bearer form, coupons dated August 15, 1969, should be detached
and cashed when due. When payment is made with registered notes, the final interest due on August 15, 1969,
will be paid by issue of interest checks in regular course to holders of record on July 15, 1969, the date the
transfer books closed.

V. ASSIGNMENT OF REGISTERED NOTES

1.
Treasury notes of Series C-1969 in registered form tendered in payment for notes offered hereunder
should be assigned by the registered payees or assignees thereof, in accordance with the general regulations of
the Treasury Department governing assignments for transfer or exchange, in one of the forms hereafter set forth,
and thereafter should be surrendered with the subscription to a Federal Reserve Bank or Branch or to the
Office o f the Treasurer of the United States, Washington, D. C. 20220. The maturing notes must be delivered
at the expense and risk of the holder. If the new notes are desired registered in the same name as the notes
surrendered, the assignment should be to “The Secretary of the Treasury for exchange for 7% percent Treasury
N otes of Series D -1971”; if the new notes are desired registered in another name, the assignment should be to
“The Secretary of the Treasury for exchange for 7% percent Treasury N otes of Series D-1971 in the name of
_______________”; if new notes in coupon form are desired, the assignment should be to “The Secretary of the
Treasury for exchange for 7% percent Treasury N otes of Series D-1971 in coupon form to be delivered to
VI. GENERAL PROVISIONS

1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive
subscriptions, to make such allotments as may be prescribed by the Secretary of the Treasury, to issue such
notices as m ay be necessary, to receive payment for and make delivery of notes on full-paid subscriptions
allotted, and they m ay issue interim receipts pending delivery of the definitive notes.
2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplemental or amenda­
tory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve
Banks.
D A V ID M. K ENNEDY,
Secretary of the Treasury.

EXCHANGE SUBSCRIPTION
7%% Treasury Notes of Series D-1971
At 99.90% of Face Value
Due February 15, 1971

Dated and bearing interest from August 15,1969
To: Federal Reserve Bank, Station K, Dallas, Texas 75222
or —
The............................................................................................ Branch
E I P a so 79999

H o u sto n 77001

S a n A n to n io 78206

EACH SUBSCRIPTION TO THIS ISSUE MUST BE IN A MULTIPLE OF $1,000
Pursuant to the provisions of Treasury Department Circular, Public Debt Series No. 5-69, dated July 31,
1969, the undersigned hereby subscribes for $_____________ 7 % % Treasury Notes of Series D-1971, dated
August 15, 1969, maturing February 15, 1971, and tenders the following securities i i i payment:

Securities Tendered

Net Cash Adjustment*
(per $1,000 face amount)
Payable to Subscriber

Face Amount

6% Notes, C-1969

Cash Adjustment
To be paid to Subscriber

$1.00

*See official circular for details
METHOD OF SETTLEMENT:
. #
□ Reserve account. . . □ Check. . . □ Otherwise.........................................- ......................................... ---........ $—
„ ....................................... ...........
The securities to be applied in payment should be listed on the reverse side and should accompany this subscription.^ If the
securities do not accompany this subscription, please attach a letter giving complete information regarding their location and
approximate date of surrender.
SCHEDULE FOR ISSUE OF BEARER SECURITIES

INSTRUCTIONS FOR DELIVERY OF
NEW SECURITIES

F ill in N u m b er o f Pieces by D en o m in atio n
N nm b er
of Pieces

DO N O T U S E T H IS CO LU M N

At

A m ount

□
□

$1,000

□

15.000

Custody—Member bank for own account $----------As collateral—Treasury Tax and Loan
account (Bank’s own securities)
$----------In joint safekeeping for own account and-----------

t ' o 000

Deliver to_

*100,000
*1.000,000

( State whether free or against funds)

TOTAL f

SCHEDULE FOR ISSUE OF REGISTERED SECURITIES
Name or names in which securities are to be registered, tax account number of
owner and mailing address for interest checks.

Denominations Desired
P ieces

D eno m in atio n

0) $
1

-

or

l-l

-

1 1 1 1

E m ployer Id e n tifica tio n N o.

Social S ecu rity No.

A m ount

$--------------------

@ «--------------------«----------------------P
P
Face A m ount.................$----------------------

We Hereby certify that at the time this subscription was entered the abuve-uesenbeu securities surrendered or to be surr®n_ered
in connection with this exchange were owned and delivery accepted by the subscriber, or were contracted for purchase for value by
the subscriber for delivery to the subscriber prior to the closing of the subscription books.

□

This is an original subscription

□

This is a confirmation

(N am e o f su b sc rib e r)

(d- ,
A d* )
By.........

(A u th o rized s ig n a tu re )

Dated_________
PLEASE F IL L IN TH E FORM BELOW W HICH W IL L BE RETURNED TO YOU AS AN ACKNOW LEDGMENT OF
YOUR SUBSCRIPTION
(O V E R )

69-195

This acknowledges your subscription for $
.
7 % % Treasury Notes of Series D-1971.

F.R.B. Subscription No.
IMPORTANT — Please use the above number in all
matters — whether paym ent or correspondence —
relating to this subscription.
The Federal Reserve Bank or Branch will
acknowledge by stamping below.

MAIL
TO 8 ^
Name

A ddress

Please list name and address of each subscriber, indicating by number in the first column the class of investor, in accordance with
the following schedule:

INVESTOR CLASSES AND NUMBERS
1.
2.
3.
4.
5.
6.

Individuals, partnerships and personal trust accounts
Mutual savings banks
Insurance companies
Dealers and brokers
Pension and retirement funds of State and local governments
Other pension and retirement funds

7. State and local government funds other than pension and
retirement
8. Commercial banks
9. Corporations other than banks and insurance companies
10. Savings and building and loan associations
11. All others

LIST OF SUBSCRIBERS
ln v » (o t
Class

NAME OF SUBSCRIBER

AMOUNT

ADDRESS

DO NOT USE

Our own subscription

TOTAL ?

LIST OF SECURITIES SURRENDERED IN PAYMENT
(C O U PO N S M A T U R IN G A U G U ST 15, 1969, M U ST B E D ET A C H E D )

Description

No. Pieces

Denomination

Serial Nos.

Location

Amount