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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States

Circular No. 2134
October 24, 1940

Offering of United States Housing Authority V4 Percent Notes of Series E,
Due November 1, 1941
Dated and bearing interest from November 1, 1940
FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE
UNITED STATES, WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE

Exempt both as to principal and interest from all taxation (except surtaxes, estate, inheritance, and gift taxes)
now or hereafter imposed by the United States or by any State, county, municipality, or local taxing authority

To all Banking Institutions, and Others Concerned, in the
Second Federal Reserve District:

Secretary of the Treasury Morgenthau, on behalf of the United States Housing Authority, is today offering for subscription, through the Federal Reserve
banks, $100,000,000, or thereabouts, of United States Housing Authority y± percent
notes of Series E, dated and bearing interest from November 1, 1940, due November
1, 1941. The terms of the offering are set forth in Treasury Circular No. 643, dated
October 24,1940, 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 will not be received at the
United States Housing Authority. 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. Where such telegraphic or
letter subscription is made by a bank the telegram or letter should contain the
amounts of the subscriptions, if any, for the customers of the subscribing bank
together with their names and addresses as provided for in the subscription blank.




GEOKGE L. HARRISOK,

President.

UNITED STATES HOUSING AUTHORITY
14 PERCENT NOTES OF SERIES E, DUE NOVEMBER 1, 1941
Dated and bearing interest from November 1, 1940
FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE
UNITED STATES, WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE
Exempt both as to principal and interest from all taxation (except surtaxes, estate, inheritance, and gift taxes)
now or hereafter imposed by the United States or by any State, county, municipality, or local taxing authority

1940

TREASUEY DEPARTMENT,

Department Circular No. 643

_
OFFICE OF THE
.
Washington,

Fiscal Service
Bureau of the Public Debt

_,
SECRETARY,
.
October 24, 1940.

I. OFFERING OF NOTES
1. The Secretary of the Treasury, on behalf of the United States Housing Authority, invites
subscriptions, at par and accrued interest, from the people of the United States for notes of the
United States Housing Authority, designated *4 percent notes of Series E. The amount of the
offering is $100,000,000, or thereabouts.
II. DESCRIPTION OF NOTES
1. The notes will be dated November 1, 1940, and will bear interest from that date at the
rate of y^ percent per annum, payable semiannually on May 1, 1941, and November 1, 1941.
They will mature November 1, 1941, and will not be subject to call for redemption prior to
maturity.
2. The notes will be issued under authority of an act of Congress (known as "United
States Housing Act of 1937") approved September 1, 1937, as amended, which provides that
the notes shall be fully and unconditionally guaranteed upon their face by the United States
as to the payment of both interest and principal; that in the event the Authority shall be unable
to make any such payment upon demand when due, payments shall be made to the holder by the
Secretary of the Treasury with money authorized to be appropriated for such purpose out of
any money in the Treasury not otherwise appropriated; and that the notes shall be exempt,
both as to principal and interest, from all taxation (except surtaxes, estate, inheritance, and
gift taxes) now or hereafter imposed by the United States or by any State, county, municipality,
or local taxing authority. These notes shall be lawful investments and may be accepted as
security for all fiduciary, trust, and public funds the investment or deposit of which shall be
under the authority or control of the United States or any officer or agency thereof.
3. Bearer notes with interest coupons attached will be issued in denominations of $1,000,
$10,000 and $100,000. The notes will not be issued in registered form.
III.

SUBSCRIPTION AND ALLOTMENT

1. Subscriptions will be received at the Federal Reserve 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. Others than banking institutions will not be permitted
to enter subscriptions except for their own account. Subscriptions from banks and trust companies for their own account will be received without deposit but will be restricted in each case
to an amount not exceeding one-half of the combined capital and surplus of the subscribing




bank or trust company. Subscriptions from all others must be accompanied by payment of
10 percent of the amount of notes applied for.
2. The Secretary of the Treasury reserves the right to reject any subscription, in whole
or in part, to allot less than the amount of notes applied for, 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. Allotment notices will be sent out promptly upon allotment, and the
basis of the allotment will be publicly announced.
IV. PAYMENT
1. Payment at par and accrued interest, if any, for notes allotted hereunder must be
made or completed on or before November 1, 1940, or on later allotment. In every case where
payment is not so completed, the payment with application up to 10 percent of the amount of
notes applied for shall, upon declaration made by the Secretary of the Treasury in his discretion, be forfeited to the United States.
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 notes allotted, to make delivery of
notes on full-paid subscriptions allotted, and they may 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 amendatory rules and regulations governing the offering, which will be communicated
promptly to the Federal Reserve Banks.




HENRY MORGENTHAU, Jr.,
Secretary of the Treasury.

FEDERAL RESERVE B A N K OP N E W YORK

Application Number

Fiscal Agent of the United States

NOTICE OF ALLOTMENT
On Cash Subscription to United States Housing Authority Obligations
Applied for by Subscriber as Described Below
To Subscriber:
1940

Referring to your subscription, numbered as above indicated, for $

(par value)

UNITED STATES HOUSING AUTHORITY % PERCENT NOTES OF SERIES E
DATED NOVEMBER 1, 1940, DUE NOVEMBER 1, 1941

for which you have applied under the provisions of the Treasury Department's circular containing the offering of such
securities for subscription, you have been allotted by the Secretary of the Treasury
$

of the amount applied for.

IMPORTANT INFORMATION FOR SUBSCRIBER
1. To expedite delivery of the securities of this issue allotted to subscriber and to facilitate prompt completion of
this transaction, please observe the following directions, and fill in, sign and return immediately the attached letter of
instructions to the Federal Reserve Bank of New York, Fiscal Agent of the United States, New York, N. Y.
Payment by Check, Cash or Charge
2. On or before the date of this issue payment must be made or completed at par, or at par and accrued interest if
payment is to be made after the date of this issue, for the securities allotted to subscriber as stated above, and payment
therefor may be made by check, cash or charge, as follows:
By Check —A check tendered in payment should be made payable to the order of the FEDERAL RESERVE BANK OF NEW YORK,
FISCAL AGENT OF THE UNITED STATES, and the proceeds thereof must be immediately available on the date that payment is due,
but such check need not necessarily accompany the attached letter of instructions. The proceeds of a check tendered in payment by
subscriber on the date of this issue, drawn on the Federal Eeserve Bank of New York, will be immediately available on the date of this
issue. Should a subscriber wish to make payment by certified check on any other bank the securities can not be delivered until the
Federal Reserve Bank of New York, Fiscal Agent of the United States, receives the proceeds of such check, and, therefore, such subscriber
should tender such certified check at least 2 days prior to the date payment is due if he wishes delivery of the securities on the
date of this issue.
By Cash—Payment may be made in cash.
By Charge—A member bank may make payment by requesting us to charge its reserve account, or a nonmember clearing bank may make
payment by requesting us to charge its clearing account.

Delivery
3. (a) Delivery of the securities of this issue will be made by the Federal Reserve Bank of New York at its head
office in New York, N. Y., and will not be made before the issue date.
(b) Securities of this issue allotted to subscriber will be delivered over the counter to a representative of the
subscriber only when a letter of authority signed officially by the subscriber identifying such representative is presented
by him.
(c) Securities of this issue allotted to subscriber will be delivered to others under special instructions from subscriber but only when such securities are either the sole property of the subscriber or are the property of its customers who
have authorized the subscriber in writing to cause their said securities to be so delivered.
Further Instructions
4. (a) Securities of this issue will be held for safekeeping by, or delivered to the Discount Department of, the Federal
Reserve Bank of New York for the account of member banks only, provided such securities are the sole property of the
—Hiember bank.
(b) It is requested that all blank spaces be typed in where necessary on the attached letter of instructions to this
ank and that such letter be signed officially and returned to this bank without delay.
FEDERAL RESERVE BANK OP NEW YOBK,

Checked by
A-USHA-N




Fiscal Agent of the United States

Application Number

LETTER OF INSTRUCTIONS
To FEDERAL RESERVE BANK OF NEW YORK,

Fiscal Agent of the United States,
New York, N. Y.
From (Name and address of Subscriber)
1940

Referring to our subscription, numbered as above indicated, for $

(par value)

UNITED STATES HOUSING AUTHORITY % PERCENT NOTES OF SERIES E
DATED NOVEMBER I, 1940, DUE NOVEMBER 1, 1941

for which we applied under the provisions of the Treasury Department's circular containing the offering of such
securities for subscription, we have received your notice of allotment stating that we have been allotted by the Secretary
of the Treasury
$
of the amount applied for.
As requested we are sending you the following instructions:
Payment for such securities will be made or completed as indicated below.
By charge to our reserve account, which you are authorized to make $
By check

$

By cash

$

Issue and dispose of securities allotted on this subscription as indicated below:
DISPOSITION
1. Deliver over the counter to the under-

DENOMINATIONS
Par Value

Pieces

«p

Leave Blank

2. Ship to the undersigned

$

3. Hold in safekeeping 'For member
bank only)
. $
4. Hold as collateral for War Loan
deposits
$

XXX
XXX
XXX

$ 1,000

5. Deliver as indicated bel )W
Deliver to:

XXX

$
Against
Payment of

Par Amount

10,000

$

$

XX XXX

100,000
Total

and credit proceeds to our Reserve account
or to our account with

•
.

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 4 and 5 above are either the sole
property of the undersigned or the property of its customers who have authorized in writing such disposition.

letter of instructions must be signed
officially in the space provided here and
returned immediately to
Federal Reserve Bank of New York,
Fiscal Agent of the United States.

Name of Subscriber.
(Please print)

By.

(Official signature required)

(Title)

Street address
City, Town or Village, and State.

DO NOT USE SPACES BELOW

Taken from Vault.

Received from FEDERAL RESERVE BANK OF N E W YORK the above described

Amount..

Counted
Checked

Delivery Receipt

Paid Stamp

Released

United States Housing Authority obligations allotted in the amount indicated
above.

...

Delivered
NA-USHA-N



Subscriber.
By.

Date.

By.

FEDERAL RESERVE BANK

USHA-ATS-t.N

OF NEW YORK

ADVICE

TO

SUBSCRIBER

SECUR.TIES DEPARTMENT

Acknowledging Receipt of Cash Subscription
For United States Housing Authority Obligations Mentioned Below
To

Application No.
Date

r
L

J
Your cash subscription for $
United States Housing Authority lU Percent Notes of Series E, Dated November 1, 1940, Due November 1, 1941
has been received by this bank, as fiscal agent of the United States, and, pursuant to the provisions of the Treasury
Department's circular offering the above-mentioned obligations of the United States Housing Authority, allotment
notices will be sent out promptly upon allotment and allotments will be made on the basis and up to the amounts
indicated by the Secretary of the Treasury to this bank.
FEDERAL RESERVE BANK OP NEW YORK,

Fiscal Agent of the United States.

Checked by




FEDERAL RESERVE BANK
OF NEW YORK

To

CARD
CARD

USHA-ATS-2.N
SECURITIES DEPARTMENT

RFrDRD

Application No.
Date

Cash subscription received
from above subscriber for $
United States Housing Authority % Percent Notes of Series E, Dated November 1, 1940, Due November 1, 1941




AMOUNT ALLOTTED $.

FEDERAL RESERVE BANK
OF NEW YORK

USHA-ATS-3.N
SECURITIES DEPARTMENT

PAYMENT AND DISPOSITION RECORD

Application No.

To

Date

Cash subscription received
from above subscriber for $
United States Housing Authority V4 Percent Notes of Series E, Dated November 1, 1940, Due November 1, 1941
DATE

BOOK CREDIT

CHARGE

CASH

DELIVERY TELLER

GOV. DEPOSIT

SHIP

ALLOTMENT
PREMIUM AND/OR
INTEREST
DISPOSITION

PURCHASE PRICE
DEPOSIT
PRINCIPAL DUE
REFUND
BALANCE
ACCRUED INT.

Digitized for O :
AMOUNT D FRASER


OVER COUNTER

SAFEKEEPING

]
SPECIAL DELIVERY INSTRUCTIONS

BTC-USHA-N
FBDBBAL EESEBVE B A N K OF N E W YOBK

Application Number

Fiscal Agent of the United States

Cash Subscription by Banking Institution

|

To United States Housing Authority Obligations
Described Below
Dated at.
.1940

FEDERAL RESERVE BANK OF NEW YORK,

Fiscal Agent of the United States,
New York, N.Y.
DEAR SIRS :

Pursuant to the provisions of Treasury Department Circular No. 643, dated October 24,1940, please enter subscription as follows for

UNITED STATES HOUSING AUTHORITY i/4 PERCENT NOTES OF SERIES E
DATED NOVEMBER 1, 1940
DUE NOVEMBER 1, 1941
(Not to exceed one-half of combined capital
and surplus as certified in (c) below).

For our own account (not classified below).. $_
For our customers (classified below)

.

Total Subscription

$_

CLASSIFICATION OF CUSTOMEKS' SUBSCRIPTIONS
(Subscriptions can be made only for $1,000 or in multiples of $1,000. For example: Glass A—10 at $1,000)
(To

SUBSCRIBE*: DO

not show on this form denominations of securities of this issue to be desired on allotment.)

CLASS A
Subscriptions of $1,000
Number of 1 Amount
Subscript's |
of Each
Leave Blank

CLASS B2
CLASS Bl
CLASS C
Subscriptions over $1,000 to $5,000 Inclusive Subscriptions over $5,000 to $10,000 Incl. Subscriptions over $10,000 to $50,000 Incl.
Amount
Amount
Number of
Number of 1 Amount
Number of
of Each
Leave Blank Subscript's!
Subscript's
of Each
Leave Blank Subscript's
of Each
Leave Blank

at

at

at

at

at

at

at

at

at

at

at

at

at

at

at
at
at

CLASS D
CLASS F
CLASS G
CLASS E
Subscriptions over $60,000 to $100,000 Incl. Sub's over $100,000 to $500,000 Inclusive Sub's over $500,000 to $1,000,000 Inclusive
Subscriptions of over $1,000,000
Number of I
Amount
Number of
Number of 1 Amount
Amount
Number of
Amount
Subscript's |
of Each
Leave Blank
of Each
Leave Blank Subscript's)
of Each
Leave Blank Subscript's
of Each
Leave Blank Subscript'*
at

at

at

at

at

•t

at

at

at

at

at

•t

at

at

at

at

at

at

at

at

at

at

at

at

vVe hereby certify:
(a) that we have received applications from our customers in the amounts set opposite the customers' names on the
attached list which is made a part of this subscription; that there has been paid to us by each such customer, not subject to withdrawal until after allotment and payment in full for securities allotted, 10 percent of the amount applied
»
for; that each such application, to the best of our knowledge and belief, is made in good faith for the customer's
'j
legitimate requirements; and that we have no beneficial interest therein;
(b) that this subscription is solely for our own account or for the account of the customers specified herein; that no
arrangements have been or will be made for the sale or other disposition of our subscription, or of the securities
which may be allotted thereon, prior to the closing of the subscription books; and that our customers whose subscriptions are included herein will be requested to confirm to us their agreement to the same conditions with respect
to their subscriptions; and
(c) that our capital and surplus (not including undivided profits, reserves, etc.) is $
agree:
,
in consideration of the receipt by you of this subscription, to make payment in full for the entire amount which
may be allotted on this subscription, at par on or before the date of issue, or at par and accrued interest if on later
allotment. Such payment will be made by the method indicated hereon.
By charge to our reserve account, which you are authorized to make

-

-

-

-

I

By check

-

-

-

- I

' Before signing fill is all required spaces.
TO SUBSCRIBER:
_ Mark (X) in proper space
to indicate if this is:
Driginal subscription

(Name of Banking Institution)
By...

r~]

Confirmation of a telegram

(Official signature)

I—I

Confirmation of a letter

(Title)

Address

r~!
l J
-

(City, Town or Village, and State)

SPACES BELOW ABE FOB THE USE OF THE FEDERAL RESERVE BANK
Kxamiaed

Carded

Figured

Allotment

Received

Classified

Checked




Ledger

Checked

Advised

Recorded

Acknowledged

Government Deposit

Method of Payment

Window

Disposition

Amount

Custody

Date Released

Mail

By

Otter Departments

List of customers' applications included in the foregoing subscription
entered and certified by
(Name of banking institution)

Post office address

Name of Customer
(Please print or use typewriter)




Address

State.

Amount Subscribed

B-USHA-N

FEDERAL EESEEVE B A N K OF N E W YOEK

Application Number

Fiscal Agent of the United States

CASH SUBSCRIPTION
BY OTHER THAN A BANKING INSTITUTION
To United States Housing Authority Obligations
Described Below
Dated at
.1940

This application must be accompanied by payment of 10 percent of the amount applied for.
Subscriptions can be made only for $1,000 or in multiples of $1,000.
FEDERAL RESERVE BANE OF NEW YORK,

Fiscal Agent of the United States,
New York, N. Y.
DEAR SIRS:

Pursuant to the provisions of Treasury Department Circular No. 643, dated October 24,1940, please enter our (my)
subscription for $

(par value)

UNITED STATES HOUSING AUTHORITY % PERCENT NOTES OF SERIES E
DATED NOVEMBER 1, 1940
DUE NOVEMBER 1, 1941
The undersigned subscriber
(a) certifies that this subscription is solely for subscriber's own account; that no arrangements have been or will be made
for the sale or other disposition of this subscription, or of the securities which may be allotted thereon, prior to the
closing of the subscription books; and
(b) agrees, in consideration of the receipt by you of this subscription, to make payment in full for the entire amount
which may be allotted on this subscription, at par on or before the date of issue, or at par and accrued interest if
on later allotment. If such payment is in excess of the amount deposited with this application the balance of the
payment due you will be made by the undersigned or (name)
in the manner indicated below.

By check

By cash

•

•

Subscriber . . .
(Print name)

TO SUBSCRIBER:
Mark (X) in proper space
to indicate if this is:
Original subscription
Confirmation of a telegram
Confirmation of a letter

Sign here . . . .
(Official Signature Required)

•
•
•

Street address

(City, Town or Village, and State)

SPACES BELOW ABE JOB THE USE OF THE FEDEBAL RESEBVE BANK OI NEW YORK
EXAMINED

CARDED

CLASSIFIED

LEDGER

ACKNOWLEDGED

Figured Checked Advised

Allotmem

DISPOSITION

Released

Payment

1

Deposit
Date

Date

$

By

By Cash
By Check
Check No.

Received

Checked




Interest

Checked

Drawn on

Recorded

Window

Custody

Mail


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102