The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 2 1 2 4 September 25, 1940 Offering of United States of America 2 Percent Treasury Bonds of 1953-55 Dated and bearing interest from October 7, 1940 Due June 15, 1955 Only Treasury Notes of Series C-1940, maturing December 15, 1940, may be tendered in payment To all Banking Institutions and Others Concerned in the Second Federal Reserve District: Secretary of the Treasury Morgenthau today announced an offering of United States of America 2 percent Treasury Bonds of 1953-55, dated and bearing interest from October 7,1940, due June 15,1955, in payment of which only Treasury Notes of Series C-1940, maturing December 15,1940, may be tendered. The amount of the offering will be limited to the amount of Treasury Notes of Series C-1940 tendered and accepted. Cash subscriptions will not be received. The terms of this offering are set forth in Treasury Department Circular No. 641, dated September 25, 1940, a copy of which is printed on the following pages. The subscription books are now open, and applications will be received by this bank as fiscal agent of the United States. Subscriptions should be made on official subscription blanks and mailed immediately, or if filed by telegram or letter, should be confirmed immediately by mail on the blanks provided. GEORGE L. HARRISON, President. UNITED STATES OF AMERICA 2 P E R C E N T T R E A S U R Y B O N D S O F 1953-55 D a t e d a n d bearing interest from October 7, 1940 D u e J u n e 15, 1955 REDEEMABLE AT T H E OPTION OF T H E UNITED STATES AT PAR AND ACCRUED INTEREST ON AND AFTER JUNE 15, 1953 I n t e r e s t payable J u n e 15 a n d December 15 1940 TREASURY DEPARTMENT, Department Circular No. 641 , OFFICE OF THE SECRETARY, Fiscal Service Bureau of the Public Debt Washington, September 25,1940. I. OFFERING OF BONDS 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, approved September 24,1917, as amended, invites subscriptions, at par, from the people of the United States for 2 percent bonds of the United States, designated Treasury Bonds of 1953-55, in payment of which only Treasury Notes of Series C-1940, maturing December 15, 1940, may be tendered. The amount of the offering under this circular will be limited to the amount of Treasury Notes of Series C-1940 tendered and accepted. II. DESCRIPTION OF BONDS 1. The bonds will be dated October 7,1940, and will bear interest from that date at the rate of 2 percent per annum, payable on a semiannual basis on December 15,1940, and thereafter on June 15 and December 15 in each year until the principal amount becomes payable. They will mature June 15,1955, but may be redeemed at the option of the United States on and after June 15,1953, in whole or in part, at par and accrued interest, on any interest day or days, on 4 months' notice of redemption given in such manner as the Secretary of the Treasury shall prescribe. In case of partial redemption the bonds to be redeemed will be determined by such method as may be prescribed by the Secretary of the Treasury. From the date of redemption designated in any such notice, interest on the bonds called for redemption shall eease. 2. The bonds shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States, or by any local taxing authority, except (a) estate or inheritance taxes, or gift taxes, and (b) graduated additional income taxes, commonly known as surtaxes, and excess-profits and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, associations, or corporations. The interest on an amount of bonds authorized by the Second Liberty Bond Act, approved September 24, 1917, as amended, the principal of which does not exceed in the aggregate $5,000, owned by any individual, partnership, association, or corporation, shall be exempt from the taxes provided for in clause (b) above. 3. The bonds will be acceptable to secure deposits of public moneys, but will not bear the circulation privilege and will not be entitled to any privilege of conversion. 4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $50, $100, $500, $1,000, $5,000, $10,000 and $100,000. Provision will be made for the interchange of bonds of different denominations and of coupon and registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by the Secretary of the Treasury. 5. The bonds will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States bonds. III. SUBSCRIPTION AND ALLOTMENT 1. Subscriptions will be received at the Federal Keserve Banks and Branches and at the Treasury Department, Washington. Banking institutions 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. The Secretary of the Treasury reserves the right to reject any subscription, in whole or in part, and to close the books as to any or all subscriptions at any time without notice; and any action he may take in these respects shall be final. Subject to these reservations, all subscriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment. IV. PAYMENT 1. Payment at par for bonds allotted hereunder must be made or completed on or before October 7, 1940, or on later allotment, and may be made only in Treasury Notes of Series C-1940, maturing December 15, 1940, which will be accepted at par, and should accompany the subscription. Coupons dated December 15, 1940, must be attached to the notes when surrendered, and accrued interest from June 15, 1940 to October 7, 1940 ($4.67213 per $1,000) will be paid following acceptance of the notes. V. GENERAL PROVISIONS 1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive subscriptions, to make allotments on the basis and up to the amounts indicated by the Secretary of the Treasury to the Federal Reserve Banks of the respective districts, to issue allotment notices, to receive payment for bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive bonds. 2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplemental or amendatory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve Banks. HENRY MORGENTHAU, Jr., Secretary of the Treasury. ORIGINAL NR-B NON-NEGOTIABLE RECEIPT For United States Government Obligations as Mentioned Below Number.... ssued to. Street. Date Town State. Receipt is hereby acknowledged of $ par amount United States of America 1% percent Treasury Notes of Series C-1940 urrendered in payment for United States of America 2 percent Treasury Bonds of 1953-55 subscribed for and allotted in full pursuant to the terms f Treasury Department Circular No. 641, dated September 25, 1940. If such new securities issued in exchange for those surrendered are to be delivered t the Federal Reserve Bank of New York over the counter to your representative the ' ' authority to deliver'' set forth below should be duly executed ad returned to us. FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States. Date Received Refer to your letter dated Mail Sheet No No.. Teller. DELIVERY RECEIPT AUTHORITY TO DELIVER FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States. You are hereby authorized to deliver to Received from the Federal Reserve Bank of New York United States Government obligations at par in the amount stated above in exchange for United States Government obligations surrendered in payment as indicated in the above non-negotiable receipt. (Name of representative) whose signature appears below $ par amount of United States Government obligations subscribed for and allotted in full in exchange for United States Government obligations surrendered in payment as indicated in the above non-negotiable receipt. Name _. By (Please print) (Official signature required) (Signature of authorized representative) Date >UPLICATE FILE COPY OF NON-NEGOTIABLE RECEIPT For United States Government Obligations as Mentioned Below Number. asued to... Street. Date Town State. Receipt is hereby acknowledged of $ par amount United States of America 1% percent Treasury Notes of Series C-1940 urrendered in payment for United States of America 2 percent Treasury Bonds of 1953-55 subscribed for and allotted in full pursuant to the terms f Treasury Department Circular No. 641, dated September 25, 1940. If such new securities issued in exchange for those surrendered are to be delivered t the Federal Eeserve Bank of New York over the counter to your representative the ' ' authority to deliver'' set forth below should be duly executed nd returned to us. FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States. Date Received Refer to your letter dated Mail Sheet No No. Teller EA-B EXCHANGE SUBSCRIPTION For Use When United States of America iy2 Percent Treasury Notes of Series C-1940 Maturing December 15, 1940 Are Tendered in Payment FOR UNITED STATES OF AMERICA 2 PERCENT TREASURY BONDS OF 1953-55 Dated October 7, 1940 Due June 15, 1955 NOTE: If registered securities of the series offered are desired upon issue the required necessary instructions must be given as indicated in the spaces provided on this subscription. Coupons dated December 15, 1940, should be attached to the notes when surrendered, and accrued interest from June 15, 1940, to October 7, 1940 ($4.67213 per $1,000), will be paid following acceptance of the notes. Subscriptions for which securities of the United States are tendered in payment and accepted will be allotted in full. Dated at FEDERAL KESEEVE BANK OP NEW YORK, .1940 Fiscal Agent of the United States, New York, N. Y. DEAR SIRS: Pursuant to the provisions of Treasury Department Circular No. 641, dated September 25, 1940, the undersigned hereby subscribes for United States of America 2 percent Treasury Bonds of 1953-55, in the amount and as stated below, and tenders in payment therefor United States of America V/2 percent Treasury Notes of Series C-1940, maturing December 15, 1940, which are: Delivered to you herewith In the amount of $ To be delivered to you for our account by To be withdrawn from securities you are holding for our account Total amount of subscription $ Pay accrued interest on securities surrendered ( by credit to our Reserve account • < by check made payable to our order • f by credit to our account with • Issue and dispose of securities allotted on this subscription as indicated below: When both coupon securities and registered securities are desired, use a separate subscription form for each. Indicate by X mark In coupon form In registered form Leave Blank Par Value 1. Deliver over the counter to the undersigned $ 2. Ship to the undersigned 3. Hold in safekeeping 1 For member $ bank only) DENOMINATIONS Pieces DISPOSITION 100 4. Register in the names as indicated in the schedule on reverse side 5. Hold as collateral for War Loan deposits $ 500 6. Deliver as indicated below $50 Deliver to: 1,000 • $ Against Payment of Par Amount 5,000 $ $ 10,000 XX XXX • and credit proceeds to our ]Reserve account. 100,000 or to our account with Total The undersigned, if a bank or trust company, hereby certifies (a) that the securities which you are hereby or hereafter instructed to dispose of in the manner indicated in item numbered 3 above are the sole property of the undersigned, and (b) that the securities which you are hereby or hereafter instructed to dispose of in the manner indicated in items numbered 5 and 6 above are either the sole property of the undersigned or the property of its customer* who have authorized in writing such disposition. (Pill in all required spaces before signing) TO SUBSCRIBER: Name of Subscriber (Please print) Please indicate if this is a confirmation. By If subscriber is a Bank or Trust Company, please indicate amount of this subscription for own account. . $ (Official signature required) (Title) Street address City, Town or Village, and State. Spaces below for the use of the Federal Reserve Bank RECEIVED CHECKED TAKEN FBOM VAULT COUNTED CHECKED BLOTTER DELIVERED AUDIT SCHEDULE FOR ISSUE OF REGISTERED BONDS Names and addresses must be printed or typewritten. Indicate under appropriate denominations, number of bonds desired. Name in which bonds shall be registered, and postoffice address for interest checks and mail. Amount $50 $100 $500 $1,000 $5,000 $10,000 XXX $10(
@FedFRASER