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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
{"Circular N o . 2 6 5 8 1
July 22, 1943
J
L
CASH SUBSCRIPTION BOOKS CLOSED
EXCHANGE SUBSCRIPTION BOOKS T O CLOSE JULY 23, 1943
On Offering of % Percent Treasury Certificates of Indebtedness of Series D-1944
To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:
In accordance with instructions received today from the Secretary of the Treasury,
the subscription books for the receipt of cash subscriptions to the current offering of
7/s
percent Treasury Certificates of Indebtedness of Series D-1944, which were open
only to commercial banks for their own account, were closed at the close of business
today, Thursday, July 22, 1943.
The subscription books will close at the close of business Friday, July 23, 1943,
for the receipt of exchange subscriptions in payment of which Treasury Certificates
of Indebtedness of Series B-1943, maturing August 1, 1943, are tendered.
Subscriptions of either class addressed to a Federal Reserve Bank or Branch
and placed in the mail before 12 o'clock midnight of the respective closing days will
be considered as having been entered before the close of the subscription books.
ALLAN SPROUL,
President.
AJf
FEDERAL RESERVE
BANK
OF NEW YORK
FISCAL
AGENT
OF THE
UNITED
STATES
July 24, 194-3
REGULATIONS GOVERNING THE PAYMENT THROUGH DEPOSITARY
BANKS OF FUNDS WITHHELD AS TAXES IN ACCORDANCE WITH
THE PROVISIONS OF THE CURRENT TAX PAYMENT ACT OF
1943
To all incorporated uninsured Banks and Trust
Companies in the Second Federal Reserve District:
With our Circular No, 264.8, dated July 7, 1943 > addressed to all Banks and
Trust Companies in the Second Federal Reserve District, we enclosed a copy of Treasury
Department Circular No. 714, dated June 25, 194-3, entitled "Regulations Governing the
Payment through Depositary Banks of Funds Withheld as Taxes in Accordance with the
Provisions of the Current Tax Payment Act of 19-43".
The Treasury Department has requested us to advise you that under date of
July 22, 194-3 Treasury Department Circular No. 714- has been amended in the following
respects:
(1) The first paragraph of Section 5 has been amended to read as follows:
"All incorporated insured banks, within'the meaning of Section
10 of the Act of June 11, 194-2, referred to in Section 3 of this
circular and all incorporated uninsured, banks and trust companies
designated as "Special Depositaries of Public Moneys" under the Act
of Congress approved September 24-, 1917, as amended (Second Liberty
Bond Act, as amended), are hereby designated, subject to the provisions of this circular, as depositaries and financial agents of the
Government for receiving from employers or other persons, hereinafter referred to as employers, funds withheld as taxes pursuant to
the Current Tax Payment Act of 194-3; provided, that no such bank
shall perform any of the acts covered by this designation until it
has qualified so to act in the manner herein prescribed,"
(2) The first sentence of Section 6 and the fifth paragraph of Section 8
have been amended to eliminate the word "insured" wherever it appears.
Any designated incorporated uninsured bank or trust company in the Second
Federal Reserve District desiring to qualify as a "Depositary for Withheld Taxes"
under the terms of Treasury Department Circular No. 714, as amended, should follow
x»he procedure set forth in our Circular No. 264.8 above referred to.
Allan Sproul,
President.
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