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\

FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
rCircular No. 2 5 2 8 "1
L October 26, 1942 J

Cash Offering of
Y Percent Treasury Certificates of Indebtedness of Series D-1943
&
Dated and bearing interest from November 2, 1942

Due November 1, 1943

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

The following press statement was today made public:
The Secretary of the Treasury today announced the offering, through the Federal Reserve Banks,
for cash subscription at par and accrued interest, of $2,000,000,000, or thereabouts, of % percent
Treasury Certificates of Indebtedness of Series D-1943. In order to insure widespread participation
not only on the part of banks, but by corporations and others who may be interested in this type of
security, the subscription books will remain open two days. There will be no restrictions as to the basis
for subscribing to this i-sue. At their maturity, the certificates will be redeemed in cash, and will carry
no exchange privileges.
The certificates will be dated November 2, 1942, will be payable on November 1,1943, and will bear
interest at the rate of seven-eighths of one percent per annum, payable on a semiannual basis on May 1
and November 1, 1943. They will be issued in bearer form only, with two interest coupons 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.
When the Treasury resumed the offering of certificates of indebtedness in April 1942, the securities industry was asked by the Secretary to call attention of nonbanking investors to the issue. This
procedure resulted in considerable distribution outside the banking system. It is expected the Victory
Fund Committee will approach the same types of purchasers, calling attention to the new series now
offered.
Subscriptions will be received at the Federal Reserve Banks and Branches, and at the Treasury
Department, Washington. Banking institutions and securities dealers 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 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 2 percent of the amount of certificates applied for.
Subject to the usual reservations and within the amount of the offering, subscriptions for amounts
not exceeding $25,000 from banks which accept demand deposits, and subscriptions in any amount from
all other subscribers, will be allotted in full; subscriptions for amounts over $25,000 from banks which
accept demand deposits will be allotted on an equal percentage basis, to be publicly announced.
Payment for any certificates allotted must be made or completed on or before November 2, 1942, or
on later allotment. As previously announced, Treasury Certificates of Indebtedness of Series A-1942,
which mature November 1, carry no exchange privileges, but such maturing certificates will be accepted
at par in payment for any certificates of the series now offered which may be allotted.

The terms of this offering are set forth in Treasury Circular No. 700, dated October 26,
1942, 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. 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.




ALLAN SPBOUL,

President.

UNITED STATES OF AMERICA
Y8 P E R C E N T T R E A S U R Y C E R T I F I C A T E S

OF INDEBTEDNESS

Dated and bearing interest from November 2, 1942

1942
Department Circular N o . 7 0 0

OF SERIES

D-1943

Due November 1, 1943

T R E A S U R Y

D E P A R T M E N T ,

O F F I C E OF T H E
Fiscal Service
Bureau of t h e Public D e b t

SECRETARY,

Washington, October 26,1942.

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 certificates of
indebtedness of the United States, designated % percent Treasury Certificates of Indebtedness of Series
D-1943. The amount of the offering is $2,000,000,000, or thereabouts.
II.

DESCRIPTION OF CERTIFICATES

1. The certificates will be dated November 2, 1942, and will bear interest from that date at the rate of
/s percent per annum, payable on a semiannual basis on May 1 and November 1, 1943. They will mature
November 1, 1943, and will not be subject to call for redemption prior to maturity.
7

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 two interest coupons 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 and securities dealers 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 and securities dealers 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 2 percent of the amount of
certificates applied for.




'

2. The Secretary of the Treasury reserves the right to reject any subscription, in whole 01* 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, and within the amount of the offering, subscriptions for amounts up to and including $25,000
from banks which accept demand deposits, and subscriptions in any amount from all other subscribers,
will be allotted in f u l l ; subscriptions for amounts over $25,000 from banks which accept demand deposits
will be allotted on an equal percentage basis, to be publicly announced. 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 November 2, 1942, or on later allotment. In every case where payment is not so
completed, the payment with application up to 2 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.
Treasury Certificates of Indebtedness of Series A-1942, maturing November 1, 1942, will be accepted at par
in payment for any certificates of the series now offered which shall be allotted.

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.




D .

W .

B E L L ,

Acting Secretary of the Treasury.

FEDERAL RESERVE ±SANK OF N E W YORK

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 $

(par value)

U N I T E D S T A T E S O F A M E R I C A % P E R C E N T T R E A S U R Y C E R T I F I C A T E S O F I N D E B T E D N E S S O F SERIES D-1943
D A T E D N O V E M B E R 2, 1942, D U E N O V E M B E R 1, 1943

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 by Treasury Certificates of Indebtedness of Series A-1942
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 by Certificates of Indebtedness of Series A-1942, 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 T H E 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 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
• h o u l d t e n d e r such certified check a t least 2 days prior to t h e d a t e p a y m e n t is d u e if he wishes delivery of the securities on t h e
d a t e 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 Treasury Certificates of Indebtedness

of Series A-1942—Such certificates will be accepted at par in payment.
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
member bank.
(b) It is requested that all blank spaces be typed in where necessary on the attached letter of instructions to
this bank and that such letter be signed officially and returned to this bank without delay.
Checked by

NA-C




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

LETTER OF INSTRUCTIONS
To

FEDERAL RESERVE B A N K

OF N E W

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)

U N I T E D S T A T E S O F A M E R I C A % P E R C E N T T R E A S U R Y C E R T I F I C A T E S O F I N D E B T E D N E S S O F SERIES D - 1 9 4 3
D A T E D N O V E M B E R 2, 1942, D U E N O V E M B E R 1, 1 9 4 3

for which you have 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 % % Treasury Certificates of Indebtedness of Series A-1942...

$.

Issue and dispose of securities allotted on this subscription as indicated below:
DISPOSITION
DENOMINATIONS

1. Deliver over the counter to the undersigned

P a r Value

Pieces

Leave Blank

XXX

2. Ship to the undersigned

$.

3. Hold in safekeeping
bank only)

XXX

4. Hold as collateral
deposits

XXX

$1,000

(for

member
$.

for

War

Loan
$.

5. Deliver as indicated below

5,000

Deliver to:

Against
Payment of

P a r Amount

•

10,000

$

$

XX XXX

100.000

Total

and credit proceeds to our Reserve account

\

•

or to our account with.
T h e u n d e r s i g n e d , if a b a n k or t r u s t company, h e r e b y certifies (a) t h a t t h e securities which you a r e h e r e b y or h e r e a f t e r instructed
t o dispose of in t h e m a n n e r i n d i c a t e d in item n u m b e r e d 3 above a r e the sole p r o p e r t y of t h e u n d e r s i g n e d , a n d (b) t h a t t h e securities
which you a r e h e r e b y or h e r e a f t e r i n s t r u c t e d to dispose of in the m a n n e r indicated in items n u m b e r e d 4 and 5 above a r e either the sole
p r o p e r t y of t h e u n d e r s i g n e d or t h e p r o p e r t y of its customers who h a v e a u t h o r i z e d in writing such disposition.

USr5 This letter of instructions must be signed
officially in the space provided here and
returned immediately to
Federal Reserve Bank of New York,
Fiscal A g e n t of t h e United S t a t e s .

Name of Subscriber.
(Please print)

By....
(Official signature required)

(Title)

Street address
City, Town or Village, and State.

DO NOT USE SPACES BELOW

Delivery Receipt

P A Y M E N T RECORD

PAYMENT RECEIVED

DELIVEB AGAINST P A Y M E N T

Received from FEDERAL RESERVE BANK OF NEW YORK the above described
United States Government obligations allotted in the amount indicated above.

By
Taken from Vault

VAC




Counted

Checked

Delivered

Special Notice to Subscribers Located in the
Borough of Manhattan of the City of New York
If you desire delivery of securities on November 2, "Letter of
Instructions" accompanying allotment notice should be filled in and
s i g n e d o f f i c i a l l y and returned to this bank by messenger by
noon, Friday, October 30, 1942.
FEDERAL RESERVE B A N K


SL. 1


OF N E W

Fiscal Agent of the United

YORK,

States.

SL.2

Special Notice to Subscribers in the
Second Federal Reserve District Located Outside
the Borough of Manhattan of the City of New York
To insure prompt delivery of securities "Letter of Instructions"
accompanying allotment notice should be filled in and s i g n e d
officially and mailed to this bank by return mail in the special
return envelope enclosed herewith.
FEDEKAL RESERVE B A N K O F N E W Y O R K ,




Fiscal Agent of the United

States.

SEC—ATS—l.C
SECUR.T.ES DEPARTMENT

ADVICE TO SUBSCRIBER

OFNEWYORK

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

Application No.
Date

1

L

>

-I

Your cash subscription for $
United States of America % Percent Treasury Certificates of Indebtedness, Series D-1943, Dated November 2, 1942, Due November 1, 1943

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 B A N K OP N E W YORK,

Fiscal Agent of the United States.

Checked by.



FEDERAL RESERVE BANK
O F NEW YORK

CARD

SEC-ATS—2.C
SECURITIES DEPARTMENT

RECORD

To

Application

No.

Date

Cash subscription received
f r o m above subscriber f o r $
United States of America % Percent Treasury Certificates of Indebtedness, Series D-1943, Dated November 2, 1942, Due November 1, 1943




AMOUNT

ALLOTTED

$.

FEDERAL RESERVE BANK
O F NEW YORK

PAYMENT AND DISPOSITION

SEC—ATS—3.C
SECURITIES DEPARTMENT

RECORD

To

Application

No.

Bate

Cash subscription received
f r o m above subscriber f o r $
United States of America % Percent Treasury Certificates of Indebtedness, Series D-1943, Dated November 2, 1942, Due November 1, 1943
DATE

VI% C / I A-1942

CHARGE

CASH

DELIVERY TELLER

GOV. DEPOSIT

SHIP

LLOTMENT
REMIUM AND/OR
INTEREST
DISPOSITION

URCHASE P R I C E
EPOSIT
RINCIPAL DUE
EFUND
ALANCE
CCRUED I N T .

Digitized forD U E
MOUNT FRASER


OVER COUNTER

1

SAFEKEEPING

!
SPECIAL DELIVERY INSTRUCTIONS

IB-CS

Application Number

CASH SUBSCRIPTION
BY OTHER THAN A BANKING INSTITUTION

To United States Government Obligations
Described Below
Dated a t .
.1942

important
Securities dealers should submit subscriptions (for account of both themselves and their customers) through banking institutions.
Subject to the reservations set forth in Treasury Department Circular No. 700, subscriptions will be allotted in full.
This application must be accompanied by payment of 2 percent of the amount applied for.
Subscriptions can be made only for $1,000 or in multiples of $1,000.
F E D E R A L R E S E R V E B A N K OF N E W

YORK,

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

Pursuant to the provisions of Treasury Department Circular No. 700, dated October 26, 1942, please enter
our (my) subscription for $

(par value)

UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES
OF INDEBTEDNESS OF SERIES D-1943, DATED NOVEMBER 2, 1942,
DUE NOVEMBER 1, 1943
The undersigned subscriber
(a) certifies 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 % % Treasury Certificates of Indebtedness,

By cash..

Series
Subscriber

TO SUBSCRIBER:
Mark (X) in proper space
to indicate if this is:
Original subscription
Confirmation of a telegram
Confirmation of a l e t t e r . . .

A-1942

$

...
(Print name)

Sign here
(Official Signature Required)

•
•
•

Street address.

(City, Town or Village, and State)

SPACES BELOW ABE FOB T H E USE OF THE FEDEBAL BESEBVE BANK OF NEW TOBK
SUBSCRIPTION RECORD

ALLOTMENT AND PAYMENT

BLOTTER

E X A M I N E D FOR
CLASSIFICATION

ALLOTMENT

)WN ACCOUNT
CHECKED

CHECKED

DEPOSIT

EXAMINED

CARDED

REFUNDED

ACKNOWLEDGED




BALANCE
DISPOSITION

FIGURED

CHECKED

DATE
DATE
DATE PAID

ADVISED
BY

Cash Subscription by Banking Institution

Application Number

To United States Government Obligations
Described Below
Dated at

Important
Treasury Certificates of Indebtedness of Series A-1942, maturing November 1, 1942, will be accepted at par in
•payment for any certificates of the series now offered which shall be allotted.
Subject to the reservations set forth in Treasury Department Circular No. 700, subscriptions for amounts up to
and including $25,000 from banks which accept demand deposits, and subscriptions in any amount from all other subscribers, will be allotted in full; subscriptions for amounts over $25,000 from banks which accept demand deposits will
be allotted on an equal percentage basis, to be publicly announced.
Subscriptions can be made only for $1,000 or in multiples of $1,000.
FEDERAL RESERVE B A N K

OF N E W

YORK,

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

SIRS:

Pursuant to the provisions of Treasury Department Circular No. 700, dated October 26, 1942, please enter
subscription as follows for
UNITED STATES OF AMERICA

% PERCENT TREASURY CERTIFICATES OF

INDEBTEDNESS

O F S E R I E S D - 1 9 4 3 , D A T E D N O V E M B E R 2 , 1 9 4 2 , D U E N O V E M B E R 1, 1 9 4 3

DO NOT USE THIS SPACE

(For use of bank which accepts demand
*For our own account

deposits)

ALLOTMENT

$

•For our customers
Total Subscription

$

(For use of bank which does not accept demand
*For our own account

deposits)

$

*For our customers

^^^^^^^^^^^

Total Subscription

$
Figured

Checked

Advised

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, two percent
of the amount applied f o r ; and
(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.
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 check
$
TO SUBSCRIBER:
\
Mark (X) in proper space
to indicate if this is:

By %% Treasury Certificates of Indebtedness,
Series A-1942
$
W F i l l in all required spaces before signing.

(Name of Banking Institution)
T»

_o

|

Confirmation of a telegram
Confirmation of a l e t t e r . . .

1

^

.
J

— — — —

-T—

(Official signature)

(Title)

Address

LJ

(City, Town or Village, and State)

NOTE*

Securities of this issue allotted to a qualified depositary for its own account may not be paid for by credit to War Loan Deposit Account
>ut may be deposited with Federal Reserve Bank of New York as collateral security for such Account.
Securities of this issue allotted to a qualified depositary for account of its customers may not be paid for by credit to War Loan Deposit
Account and may not be deposited with Federal Reserve Bank of New York as collateral security for such Account without the written consent
f the owners of such securities.
SPACES BELOW ARE FOR THE USE OF THE FEDERAL RESERVE BANK
SUBSCRIPTION

RECORD

BLOTTER

EXAMINED FOR
CLASSIFICATION

W N ACCOUNT
|
CHECKED

CHECKED

EXAMINED

CARDED

3KNOWLEDGED




DISPOSITION

PAYMENT
D
R/A
B/C
C

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

P o i t office address

Name of Customer
(Pitas* print or use




typewriter)

Address

State.

Amount

Subscribed

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