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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States No. 2 4 0 9 T [Circular A i l s 1942 0 J Aprils, 1942 J Cash Offering of Percent Treasury Certificates of Indebtedness of Series A-1942 Dated and bearing interest from April 15,1942 Due November 1,1942 To all Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following press statement was today made public: Secretary of the Treasury Morgenthau today announced the offering, through the Federal Reserve Banks, for cash subscription at par and accrued interest, of $1,500,000,000, or thereabouts, of y% percent Treasury Certificates of Indebtedness of Series A-1942. In order to insure more extensive participation for moderate amounts on the part of corporations, banks, and others interested in a type of security carrying maturities somewhat longer than Treasury bills, subscriptions up to $25,000 will be allotted in full. Subscriptions for larger amounts will be allotted on an equal percentage basis, but not less than $25,000 on any one subscription. The certificates will be dated April 15, 1942, will be payable on November 1, 1942, and will bear interest at the rate of one-half of one percent per annum, payable at the maturity of the certificates. They will be issued in bearer form only, with one interest coupon attached, in denominations of $1,000, $5,000, $10,000 and $100,000. Pursuant to the provisions of the Public Debt Act of 1941, interest upon the certificates now offered shall not have any exemption, as such, under Federal tax Acts now or hereafter enacted. The full provisions relating to taxability are set forth in the official circular released today. 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. Subscriptions for the certificates from banks and trust companies for their own account will be received without deposit, but subscriptions from all others must be accompanied by payment of 10 percent of the amount of certificates applied for. The bases on which, subscriptions will be entertained from the various classes of subscribers will be the same as announced on December 3, 1941, for the December 15 cash offerings; they are set forth in the official circular governing this offering. The right is reserved to close the books as to any or all subscriptions or classes of subscriptions at any time without notice. The basis of allotment of subscriptions will be publicly announced, and payment for any certificates allotted must be made or completed on or before April 15, 1942, or on later allotment. The terms of this offering are set forth in Treasury Circular No. 683, dated April 6,1942, a copy of which is printed on the following pages. The subscription hooks 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. Telegraphic or letter subscriptions to the cash offering entered by a bank should state the amount subscribed for the bank's own account and the number of subscriptions, at each amount, entered for the customers of the subscribing bank. AT.T,ATT S P B O U L , President. UNITED STATES OF AMERICA PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES A-1942 Dated and bearing interest from April 15, 1942 1942 Due November 1, 1942 TREASURY DEPARTMENT, Department Circular No. 683 _ Bureau oTtheP^Wic Debt Office of the Secretary, Washington, April 6, 1942. I. OFFERING OF CERTIFICATES 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended, invites subscriptions, at par and accrued interest, from the people of the United States for y% percent certificates of indebtedness of the United States, designated Treasury Certificates of Indebtedness of Series A-1942. The amount of the offering is $1,500,003,000, or thereabouts. II. DESCRIPTION OF CERTIFICATES 1. The certificates will be dated April 15, 1942, and will bear interest from that date at the rate of % percent per annum, payable on an annual basis at the maturity of the certificates. They will mature November 1, 1942, and will not be subject to call for redemption prior to maturity. 2. The income derived from the certificates shall be subject to all Federal taxes, now or hereafter imposed. The certificates shall be subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but shall be 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. The certificates will be acceptable to secure deposits of public moneys. They will not be acceptable in payment of taxes and will not bear the circulation privilege. 4. Bearer certificates with one interest coupon attached will be issued in denominations of $1,000, $5,000, $10,000 and $100,000. The certificates will not be issued in registered form. 5. The certificates will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States certificates. III. SUBSCRIPTION AND ALLOTMENT 1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury Department, Washington. Subscribers must agree not to sell or otherwise dispose of their subscriptions, or of the securities which may be allotted thereon, prior to the closing of the subscription books. 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. Subscriptions from all others must be accompanied by payment of 10 percent of the amount of certificates applied for. Subscriptions will be entertained from the various classes of subscribers on the following bases: 1. Banks and trust companies for their own account—not to exceed 50 percent of capital and surplus. 2. Mutual savings and cooperative banks, Federal Savings and Loan Associations, trust accounts and investment corporations, pension funds, insurance companies, and similar institutions and f unds—not to exceed 10 percent of total resources. 3. Corporations organized for profit, and dealers and brokers—not to exceed 50 percent of net worth. 4. Individuals—not to exceed 50 percent of net worth or 100 percent of cash deposited with subscription. 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 certificates 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. Subject to these reservations, subscriptions for amounts up to and including $25,000 will be allotted in full, and subscriptions for amounts over $25,000 will be allotted on an equal percentage basis, but not less than $25,000 on any one subscription. The basis of the allotment will be publicly announced, and allotment notices will be sent out promptly upon allotment. IV. PAYMENT 1. Payment at par and accrued interest, if any, for certificates allotted hereunder must be made or completed on or before April 15, 1942, 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 certificates applied for shall, upon declaration made by the Secretary of the Treasury in his discretion, be forfeited to the United States. Any qualified depositary will be permitted to make payment by credit for certificates allotted to it for itself and its customers up to any amount for which it shall be qualified in excess of existing deposits, when so notified by the Federal Eeserve Bank of its District. 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 certificates allotted, to make delivery of certificates on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive certificates. 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, J R . , Secretary of the Treasury. B-BC FEDERAL RESERVE BANK OF NEW YORK APPLICATION NO. IN ACCORDANCE WITH YOUR CERTIFICATION WE HAVE THIS DAY CREDITED YOUR WAR LOAN DEPOSIT ACCOUNT" WITH THE AMOUNT INDICATED ABOVE. ACCOUNT OF ALLOTMENT OF y2% Treasury Certificates of Indebtedness Series A-1942 Dated April 15, 1942 Due November 1, 1942 FEDERAL RESERVE BANK OF NEW YORK FISCAL AGENT OF THE UNITED STATES GOVERNMENT BOND DEPARTMENT. B-BC FEDERAL RESERVE BANK OF NEW YORK APPLICATION NO. IN ACCORDANCE WITH YOUR CERTIFICATION WE HAVE THIS DAY CREDITED YOUR "WAR LOAN DEPOSIT ACCOUNT" WITH THE AMOUNT INDICATED ABOVE. ACCOUNT OF ALLOTMENT OF Yz% Treasury Certificates of Indebtedness Series A-1942 Dated April 15, 1942 Due November 1, 1942 "OFNEWYORK ADVICE TO SUBSCRIBER Acknowledging Receipt of Cash Subscription For United States Government Obligations Mentioned Below To Application No. Date r L J Your cash subscription for $ United States of America ^ Percent Treasury Certificates of Indebtedness, Series A-1942, Dated April 15, 1942, Due November 1, 1942 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, 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 OF NEW YORK, Fiscal Agent of the United States. Checked by. .KHL. nc.aL.nvo o » n n OF NEW YORK To SEC-AT5-2.C CARD RECORD SECURITIES DEPARTMENT Application No. Date Cash subscription received from above subscriber for $ United States of America Vz Percent Treasury Certificates of Indebtedness, Series A-1942, Dated April 15, 1942, Due November 1, 1942 AMOUNT AIXOTTED $. OF NEW YORK SEC-ATS-3. C SECURITIES DEPARTMENT PAYMENT AND DISPOSITION RECORD Application No. To Date Cash subscription received from above subscriber for $ United States of America % Percent Treasury Certificates of Indebtedness, Series A-1942, Dated April 15, 1942, Due November 1, 1942 DATE BOOK CREDIT CHARGE CASH DELIVERY TELLER GOV. DEPOSIT SHIP ALLOTMENT PREMIUM AND/OR INTEREST PURCHASE PRICE DEPOSIT PRINCIPAL DUE REFUND BALANCE ACCRUED INT. Digitized for DUE FRASER AMOUNT DISPOSITION OVER COUNTER SAFEKEEPING 1 SPECIAL DELIVERY INSTRUCTIONS i IB-C Application Number CASH SUBSCRIPTION BY OTHER THAN A BANKING INSTITUTION To United States Government Obligations Described Below Dated at. .1942 Important Subject to the reservations set forth in Treasury Department Circular No. 683, subscriptions for amounts up to and including $25,000 will be allotted in full, and subscriptions for amounts over $25,000 will be allotted on an equal percentage basis, but not less than $25,000 on any one subscription. 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. Interest decimal on coupon payable November 1,1942 (200 days in 365 day period) one day's interest on $1,000. is $0.013698630 FEDERAL BESERVE 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. 683, dated April 6, 1942, please enter our (my) subscription for $ (par value) UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES A-1942, DATED APRIL 15, 1942, DUE NOVEMBER 1, 1942 The undersigned subscriber (a) certifies that this subscription is solely for subscriber's legitimate investment requirement and is within the limitation in amount prescribed by the Treasury; 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 Q Subscriber . . . (Print name) TO SUBSCRIBES: Mark (X) in proper space to indicate if this ia: Sign here (Official Signature Required) Original subscription Street address. Confirmation of a telegram Confirmation of a letter p] (City, Town or Village, and State) SPACES BELOW ABB FOB THE USE OV THE FEDEBAL EESEBVE BANK OP NEW TOBK SUBSCRIPTION RECORD ALLOTMENT AND PAYMENT BLOTTER EXAMINED FOB CLASSIFICATION ALLOTMENT OWN ACCOUNT CHECKED CHECKED DEPOSIT EXAMINED CARDED REFUNDED ACKNOWLEDGED BALANCE DISPOSITION FIGURED CHECKED ADVISED DATE DATE DATE PAID BY BTC-C Cash Subscription by Banking Institution Application Number To United States Government Obligations Described Below Dated at Important .1942 Subject to the reservations set forth in Treasury Department Circular No. 683, subscriptions for amounts up to and including $25,000 will be allotted in full, and subscriptions for amounts over $25,000 will be allotted on an equal percentage basis, but not less than $25,000 on any one subscription. Subscriptions can be made only for $1,000 or in multiples of $1,000. Interest decitnal on coupon payable November 1,1942 (200 days in 365 day period) one day's interest on $1,000, is $0.013698630 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. 683, dated April 6,1942, please enter subscription as follows for UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES A-1942, DATED APRIL 15, 1942, DUE NOVEMBER 1, 1942 *For our own account (not classified below).. $ *For our customers (classified below) ________ Total Subscription (To SUBSCRIBER: DO (Not to exceed one-half of combined capital and surplus aa certified in (c) below). $ CLASSIFICATION OF CUSTOMERS' SUBSCRIPTIONS (For example: Class A — 10 at $1,000) not show on this form denominations oj securities of this issue to be desired on allotment.) CLASS A Subscriptions of $1,000 Number of] Amount Leave Blank Subscript's! of Each CLASS B Subacniitione over $1,000 to $10,000 Inol. Number of Amount Leava Blank Subscript's of Eauh CLASS C2 CLASS Cl Stibaenntinns over S10,000 to 825,000 Inol. Subscriptions over $25,000 tu S50.000 Inel. Number of Amount Number of Amount Leave Blank Leave Blank Subscript's ^ubacript'e of Each oi Each at at at at, at at at at at at at at at at at at at at al at at at at at at at at at CLASS D CLASS E CLASS G CLASS F Subscriptions of over £1,000,000 Subscriptions over 550,000 to f 100,000 Inel. Sub's over $100,000 to 8500,000 Inclusive Sub's over $500,000 to 81,000,000 Inclusive Number of Number of Amount Number oi Amount Number of Amount Amount Leava Blank Subscript's Leave B!ank Leave Blank Subscript'3 Leave Ulank Subscript's Subscript's of Each of Each of Each of Each at at at at nt at at at at at at at at at at at at at at at at at at at — I We hereby certify: (a) that we have received applications from our customers in the amounts set opposite the customers' names listed on the reverse side of this form 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, ten percent of the amount applied for, or in the case of individuals so electing, 100 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 legitimate investment requirements, and is within the limitation in amount prescribed by the Treasury; 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 $ "We 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 By cheek TO SUBSCRIBER: Mark (X) in proper apace to indicate if this is: Original subscription Confirmation of a telegram.... Confirmation of a letter rn r~j By credit to War Loan Deposit Account •*~Fill in all required spaces before signing. Q (Name of Banking Institution) By D • Address D (Title) (Official signature) (City, Town or Village, and State) *N0TE: Securities of this issue allotted to a qualified depositary for its own account may be paid for by credit to War Loan Deposit Account and may also be deposited with Federal Reserve Bank of New York aa collateral security for such Account. Securities of this issue allotted to a qualified depositary for account of its customers may be paid for by credit to War Loan Deposit Account, but may not be deposited with Federal Reserve Bank of New York as collateral security for such Account without the written consent of the owners of euch securities. SPACES BELOW ABE FOE THE USE OF THE FEDERAL RESERVE BANK SUBSCRIPTION RECORD BLOTTER OWN ACCOUNT CHECKED EXAMINED Digitized ACKNOWLEDGED for FRASER EXAMINED FOR CLASSIFICATION CHECKED CARDED PAYMENT ALLOTMENT Figured DISPOSITION Checked Advised R/A B/C List of customers' applications included in the foregoing subscription entered and certified by (Name of banking institution) PoJt office address Name of Customer (.Pleat e print or use typewriter) Address State. Amount Subscribed FEDEEAL RESERVE B A N K OF N E W YORK Application Number Fiscal Agent of the United States NOTICE OF ALLOTMENT On Cash Subscription to United States Government Obligations Applied for by Subscriber as Described Below To Subscriber; 1942 Referring to your subscription, numbered as above indicated, for $ (pap value) UNITED STATES OF AMERICA U PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES A-1942 DATED APRIL 15, 1942, DUE NOVEMBER 1, 1942 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, Charge or Credit 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, charge, or credit, as follows: By Check—A check tendered in payment Bhould 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 cheek need not necessarily accompany the attached letter of instructions. The proceeds of a cheek tendered in payment by subscriber on the date of this issue, drawn on the Federal Reserve 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. By Credit—(a) If subscriber ia a depositary of public moneys qualified under the provisions of Treasury Department Circular No. 92, dated February 23, 1932, aa nmended, with respect to special deposits of public moneys under the Act of Congress approved September 24, 1917, as amended, subscriber will be permitted to make payment by credit in the War Loan Deposit Aceount for securities of this issue allotted to it for itself and its customers up to any amount for which it shall be qualified in excess of existing deposits. (b) Securities of this issue allotted to a qualified depositary for its own account may be pledged with Federal Reserve Bank of New York as collateral security for deposits in the War Loan Deposit Account. Securities of this issue allotted to a qualified depositary for account of - its customers may not be pledged as such collateral security without the written consent of the owners of such securities. 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. 1 (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 suberiber but only when such securities are either the sole property of the subscriber or are the property of its customers who ave 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 aember bank. (b) It is requested that all blank spaces be typed in where neeessary on the attached letter of instructions to his bank and that such letter be signed officially and returned to this bank without delay. FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States Checked by *!A-C Application Number LETTER OF INSTRUCTIONS To FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States, Government Bond Department, New York, N. Y. From (Name and address of Subscriber) 1942 Referring to our subscription, numbered as above indicated, for $ (par value) UNITED STATES OF AMERICA H PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS, SERIES A-1942 DATED APRIL 15, 1942, DUE NOVEMBER 1, 1942 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 $ By credit to War Loan Deposit Account as shown in the following "Certificate of Advice": CERTIFICATE OF ADVICE A p r i l 15j 1 9 4 2 I HEREBY CERTIFY that there has been deposited this day with the above bank or trust company, to the credit of the Federal Reserve Bank of New York, as fiscal agent of the United States, War Loan Deposit Account, to be held subject to withdrawal on demand through the Federal Reserve Bank of New York, the sum of Dollars, $ To be executed only when subscriber is making payment through War Loan Deposit Account. Cashier or Vice President. Issue and dispose of securities allotted on this subscription as indicated below: DISPOSITION DENOMINATIONS Pieces 1. Deliver over the counter to the undersigned Par Value Leave Blank 2. Ship to the undersigned 3. Hold in safekeeping bank only) XXX (For member XXX 4. Hold as collateral for War Loan deposits xxx SI ,000 5. Deliver as indicated below. 5,000 Deliver to: Par Amount 10,000 Against Payment of 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. : - T h i s letter of instructions must be signed officially in the space provided here and returned immediately to Federal Reserve Bank of New York, Name of Subscriber. (Please print) By(Official signature required) (Title) Street address Fiscal Agent of the United States. City, Town or Village, and State. DO NOT USE SPACES BELOW Delivery Receipt PAYMENT RECORD Received from FEDERAL RESERVE BANK OF NEW YORK the above described PAYMENT RECEIVED DELIVER AGAINST PAYMENT United States Government obligations allotted in the amount indicated above. or $ Subscriber By. Date. Taken from Vault NA-C Counted Checked Delivered
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