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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States TCircular No. 2 6 6 0 " 1 L July 28, 1943 J Elimination of Requirement of 30 Days' Advance Notice of Intention to Redeem Treasury Savings Notes of Series C for Cash To all Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The Secretary of the Treasury has announced that any owner of Treasury Savings Notes of Series C who desires to redeem such notes for cash prior to maturity will no longer be required to give thirty days' advance notice of his intention to redeem. Accordingly, any such notes may be redeemed for cash, at the option of the owner and without advance notice, during and after the sixth calendar month after the month of issue. At the time of the original offering of these notes in September 1942, under the designation of "Treasury Notes of Tax Series C " , the Secretary of the Treasury stated that: " T h e new notes * * * are adaptable for dual purposes: (1) for the accumulation of tax reserves and (2) for the temporary or short-term investment of cash balances which are at present idle." The elimination of the requirement of advance notice of intention to redeem increases the attractiveness of the notes as a temporary or short-term investment medium. For your information, we transmit herewith copies of: (1) First Amendment, dated June 22,1943, to Treasury Department Circular No. 696, which provides that the notes of the United States theretofore designated as Treasury Notes of Tax Series C shall thereafter be designated as Treasury Savings Notes, Series C. (2) Second Amendment, dated July 27, 1943, to Treasury Department Circular No. 696, which eliminates the requirement of thirty days' advance notice of intention to redeem Treasury Savings Notes of Series C. Treasury Department Circular No. 696, dated September 12, 1942, the original offering circular regarding Treasury Notes of Tax Series C, was transmitted with our Circular No. 2502, dated September 14, 1942. Additional copies of this circular will be furnished upon request. ALLAN SPROUL, President. UNITED STATES OF AMERICA TREASURY SAVINGS NOTES SERIES C 1943 Department Circular No. 696 First Amendment Fiscal Service Bureau of the Public Debt TREASURY DEPARTMENT, OFFICE OF THE SECRETARY, Washington, June 22, 1943. 1. Notes of the United States issued pursuant to Department Circular No. 696, dated September 12, 1942 and heretofore designated Treasury Notes of Tax Series C sliall hereafter be designated Treasury Savings Notes, Series C, and said circular is amended to conform to such new designation. 2. The sale of notes issued under the provisions of Circular No. 696 as hereby amended, will continue until further notice. The issue of such notes bearing the designation 11 Treasury Notes of Tax Series C ' ' will be continued until existing stocks are exhausted, after which notes with the designation "Treasury Savings Notes, Series C " will be issued. H . MORGENTHAU, JR., Secretary of the Treasury. UNITED STATES OF AMERICA TREASURY SAVINGS NOTES SERIES C 1943 Department Circular No. 696 Second Amendment Fiscal Service Bureau of the Public Debt TREASURY DEPARTMENT, OFFICE OF THE SECRETARY, Washington, July 27, 1943. 1. Paragraph 1 (a) of section V of Department Circular No. 696 (7 F. R. 7260), as amended (8 F. R. 8684), is hereby further amended to read as follows: " 1 . General.— (a) Any Treasury Savings Note of Series C not presented in payment of taxes, will be paid at maturity, or, at the option and request of the owner and without advance notice, will be redeemed before maturity, but the notes may be redeemed before maturity only during and after the sixth calendar month after the month of issue (as shown on the face of each note)." 2. This amendment shall apply to Treasury Savings Notes, Series C, and to notes issued as Treasury Notes of Tax Series C without regard to the date of issue or to the designation of the notes. H E N R Y MORGENTHAU, J R . , Secretary of the Treasury.
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