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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
rCircular No. 2 6 7 4
L August 26, 1943 J
THIRD WAR LOAN
GENERAL INFORMATION
and
TREASURY CIRCULARS
To all Banking Institutions
in the Second Federal Reserve District:
In our Circular No. 2G67, dated August 16, 1943, we advised you that we were preparing a pamphlet which would bring together, f o r the convenience of banking institutions,
the essential facts concerning the Third W a r Loan. Possession of these facts in convenient
f o r m will enable banks to serve as centers of information in their respective communities,
and help them p e r f o r m efficiently the important j o b of entering subscriptions f o r account
of their customers and others. This material is set forth in the present circular. It contains:
(1) Information with respect to the securities to be offered, the method of submission
of subscriptions and payment f o r the securities, the f o r m of registration of the
securities, and other related matters; and
(2) The currently effective provisions of the official offering circulars with respect to
each of the issues to be sold during the drive.
I f the members of your staff will study carefully the material on pages 3 to 8 of this
circular prior to the opening of the drive and retain copies of the circular f o r ready reference during the drive, we believe that their work will be facilitated and the success of the
drive will be promoted.
This is one way f o r banks and bankers to B A C K T H E A T T A C K .
ALLAN
SPROUL,
President.
Y o u will want additional copies of this circular.
\
Please advise us of the number you will need.
ANNOUNCEMENT B Y T H E S E C R E T A R Y OF T H E T R E A S U R Y
regarding the
THIRD W A R LOAN
Released f o r publication July 22, 1943
Secretary of the Treasury Henry Morgenthau, Jr., announced today that the goal set for the
Third War Loan Drive, starting September 9, will be $15 billion.
Mr. Morgenthau said that the entire $15 billion will be sold to individual investors, corporations, insurance companies and other non-banking sources.
"This goal and the Third War Loan program," he said, "was determined by Treasury officials
after receiving recommendations from chairmen of the State War Finance Committees, and officials
of the Federal Reserve System and the American Bankers Association. Getting this amount of
money will be a huge task, and will represent the largest financing program in the history of
the world.
"The job of raising this $15 billion," he said, "will be handled by War Finance Committees
of each state, and the bonds will be sold largely by hundreds of thousands of patriotic volunteer
salesmen, who already have made plans to concentrate on house-to-house selling, since a major
consideration is increasing the number of people who are buying War Bonds."
The securities to be offered in the Third War Loan, it was pointed out, will be essentially the
same types as those sold in the Second War Loan.
The securities
1. Series
2. Series
3. Series
to be sold under the direction of the War Finance Committees will consist of:
4. 2y 2 % Bonds of 1964-69
E Savings Bonds
F and G Savings Bonds
5. 2% Bonds of 1951-53
C Savings Notes
6.
Certificates of Indebtedness
The 2y2°/o Bond will be dated September 15, 1943, due December 15, 1969, callable December
15, 1964, and will be issued in coupon or registered form at the option of the buyers in denominations from $500 to $1,000,000. Commercial banks, which are defined for this purpose as banks
accepting demand deposits, will not be permitted to own these Bonds until September 15, 1953.
The 2% Bond will be dated September 15, 1943, due September 15, 1953, callable September
15, 1951, and will be issued in coupon or registered form at the option of the buyers in denominations from $500 to $1,000,000.
The
Certificates of Indebtedness will be dated September 15, 1943, due September 1, 1944,
and will be issued in denominations of $1,000 to $1,000,000, and in coupon form only.
None of these securities will be available for subscription by commercial banks for their own
account during the period of the Drive. However, shortly after the Drive terminates, a 2 per cent
Bond and a
per cent Certificate of Indebtedness will be offered for subscription by commercial
banks for their own account. In order to confine all sales in the Drive to non-banking sources,
the Treasury will request commerical banks not to buy in the market, and will request the market
not to trade in, either of these securities offered in the Drive until the books for bank subscriptions are closed.
T o avoid unnecessary transfers of funds from one locality to another, the Treasury would prefer
to have all subscriptions by corporations and firms entered and paid for through the banking institutions where the funds are located.
(An announcement by the Secretary of the Treasury regarding the Third War Loan and the refunding of
the 3 % % Treasury Bonds of 1943-45, released for publication August 16, 1943, is reproduced on page 44 of this
circular.)
Page 2
THIRD WAR LOAN
INFORMATION FOR BANKING INSTITUTIONS
The following information is of particular importance to banking institutions in view of the essential
functions which they will perform during the Third War Loan Drive. It should be read carefully by the
members of their staffs who will work on matters pertaining to the drive.
Securities offered
In order to afford easy reference to the detailed terms of the securities to be sold during the drive, and
to facilitate the answering of questions regarding them, the following Treasury circulars, in form as revised
and amended to date, are reproduced on the pages indicated:
Subject
War Savings Bonds, Series E
Savings Bonds, Series F and G
Regulations Governing United States Savings Bonds
Treasury Savings Notes, Series C
Vs% Treasury Certificates of Indebtedness of Series E-1944
2% Treasury Bonds of 1951-53
2i/ 2 % Treasury Bonds of 1964-69
Treasury
Circular No.
653
654
530
696
721
720
719
Page
9
14
21
33
38
40
42
Restrictions on subscriptions by commercial banks
None of the securities other than the Treasury Savings Notes of Series C* will be available for subscription by commercial banks (banks accepting demand deposits) for their own account during the period of
the drive. The Treasury has announced, however, that shortly after the drive terminates, a 2% bond and
a % % certificate of indebtedness will be offered for exclusive subscription by commercial banks for their
own account. Promptly upon announcement by the Treasury of the terms of such offerings, full details
and appropriate subscription forms will be furnished to all commercial banks.
In order to confine all sales in the drive to nonbanking sources, the Treasury has requested commercial banks not to purchase, and subscribers not to trade in, the 2°/o Treasury Bonds of 1951-53 and the % %
Treasury Certificates of Indebtedness of Series E-1944 until ten days after the close of the drive, or until
the books for subscriptions by commercial banks to the new offerings referred to in the preceding paragraph are closed, whichever is earlier.
The 2Y2% Treasury Bonds of 1964-69 may not be held by commercial banks for their own account,
and may not be pledged to secure deposits of public moneys, before September 15, 1953.
Receipt of applications for securities and submission of subscriptions
During the drive, banking institutions will receive applications addressed to them, on forms provided by
the State War Finance Committees, for securities to be purchased for account of customers and others. These
forms should not be forwarded to the Federal Reserve Bank of New York but should be retained by the
banking institution. In cases of applications for Series E War Savings Bonds, the banking institution
should issue the bonds directly; in cases of applications for any other securities, the banking institution
should submit to the Federal Reserve Bank of New York a subscription on the appropriate subscription
form furnished by the Federal Reserve Bank.
Subscriptions for 2y2% Treasury Bonds of 1964-69, 2% Treasury Bonds of 1951-53, and % % Treasury
Certificates of Indebtedness of Series E-1944, for account of customers may be submitted only by banking
institutions. Security dealers, brokers, savings and loan associations and others may not enter subscriptions to such issues for account of customers except through banking institutions.
Subscriptions for Treasury Savings Notes of Series C for account of customers may be submitted by
banking institutions and security dealers.
* Any such notes purchased by commercial banks bear interest only if used in the payment of Federal taxes.
Page 3
Subscriptions for Series E War Savings Bonds may be filled directly by any organization duly authorized to issue such bonds. Subscriptions for Series F and Series G Savings Bonds for account of customers
may be submitted to the Federal Reserve Bank by any banking institution or by any other organization
authorized to issue Series E bonds.
Any purchaser may submit a subscription for his own account directly to the Federal Reserve Bank
of New York. In order, however, to permit the full use of War Loan Deposit Accounts and to minimize
the amount of accrued interest payable, customers and others should be encouraged to submit their subscriptions through banking institutions.
Subscriptions submitted to the Federal Reserve Bank of New York should be made on the official
forms furnished by it. The appropriate forms for use in subscribing to each type of security offered,
are as follows:
Issue
Form No.
2 y 2 % Treasury Bonds of 1964-69
—Coupon Form
—Registered Form
1
2
2 % Treasury Bonds of 1951-53
—Coupon Form
—Registered Form
3
4
% % Treasury Certificates of Indebtedness of Series E-1944
Savings Bonds, Series F
Savings Bonds, Series G
Treasury Savings Notes, Series C
5
G.B. 339
G.B. 340
G.B. 401
A sample of each of these forms is enclosed; additional supplies will be furnished to all banking institutions
in advance of the opening of the Third "War Loan Drive.
Payment for securities
Subscriptions must be accompanied by payment in full. However, since life insurance companies
receive substantial funds at a steady and predictable rate, the Treasury has provided that companies whose
principal business is the writing of life insurance may make payment, at par and accrued interest, not
later than November 1, 1943, for 2 y 2 % Treasury Bonds of 1964-69 and 2 % Treasury Bonds of 1951-53
subscribed for by them during the drive. Instructions with respect to the submission of subscriptions by
life insurance companies which elect to make deferred payment will be furnished to each life insurance
company having its principal office in the Second Federal Reserve District.
Banking institutions qualified as special depositaries of public moneys under Treasury Department
Circular No. 92 (Revised) may pay the full purchase price (both principal and accrued interest) of all
securities subscribed for during the drive by credit to their War Loan Deposit Accounts. Although the
2i/ 2 % Treasury Bonds of 1964-69, the 2 % Treasury Bonds of 1951-53 and the % % Treasury Certificates
of Indebtedness of Series E-1944 will be dated September 15, 1943, the credit may be entered in a War
Loan Deposit Account on or after September 9, 1943, the date of the opening of the drive. Qualified
depositaries are urged to make full use of their War Loan Deposit Accounts.
Any member bank of the Federal Reserve System or any nonmember clearing bank may pay for securities by authorizing a charge to the reserve account or nonmember clearing account maintained by it with
the Federal Reserve Bank of New York.
Any banking institution may pay for securities by check. Checks should be drawn by the banking
institution either to the order of the Federal Reserve Bank of New York or to the order of the Treasurer
of the United States. Checks drawn by others to the order of the banking institution and endorsed by it
to the order of the Federal Reserve Bank or the Treasurer of the United States will not be accepted.
Calculation and payment of accrued interest
The 21/2% Treasury Bonds of 1964-69, the 2 % Treasury Bonds
tificates of Indebtedness of Series E-1944 will be dated September
accrued interest from September 15 to the date payment is received
that accrued interest is waived on $500 and $1,000 subscriptions to
Page 4
of 1951-53 and the % % Treasury Cer15, 1943, and will be sold at par plus
by the Federal Reserve Bank, except
the 2 % % Treasury Bonds of 1964-69
and the 2 % Treasury Bonds of 1951-53.
follows:
One day's accrued interest per $1,000 on each of the issues is as
One Day's
Interest
Issue
2i/ 2 % Treasury Bonds of 1964-69
2 % Treasury Bonds of 1951-53
% % Treasury Certificates of Indebtedness of Series E-1944
$0,068
0.055
0.024
The following table, showing interest per day per $1,000, may be used in computing accrued interest
during the month of September:*
Date payment received
by Federal Reserve
Bank
Days
September 16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
1
2
3
Sunday
5
6
7
8
9
10
Sunday
12
13
14
15
Treasury
Bonds of
1964-69
2°/o Treasury
Bonds of
1951-53
%% Treasury
Certificates
of Indebtedness
of Series E-1944
$0,068
0.136
0.204
$0,055
0.110
0.165
$0,024
0.048
0.072
0.340
0.408
0.476
0.544
0.612
0.680
0.275
0.330
0.385
0.440
0.495
0.550
0.120
0.144
0.168
0.192
0.216
0.240
0.816
0.884
0.952
1.020
0.660
0.715
0.770
0.825
0.288
0.312
0.336
0.360
The date 011 which payment is received by the Federal Reserve Bank will depend upon the method by
which payment for the subscription is made by the banking institution, that is:
If payment is made by credit to "War Loan Deposit Account, payment is considered received on the
date the account is credited; and accrued interest should be paid to that date.
If payment is made by charge to a reserve account or nonmember clearing account maintained with
the Federal Reserve Bank, payment is considered received on the date the authorization to charge
the account is received by the Federal Reserve Bank; and accrued interest should be paid to that date.
If payment is made by check drawn on the Federal Reserve Bank, accrued interest should be
paid to the date such cheek is received by the Federal Reserve Bank.
If payment is made by check drawn on a bank other than the Federal Reserve Bank, accrued
interest should be paid to the date on which funds in payment of such check will be available to the
Federal Reserve Bank in the normal course of collection.
A savings bank may minimize the amount of accrued interest on subscriptions submitted for its
own account or for account of customers by entering such subscriptions through its correspondent bank
and making arrangements for the correspondent to pay by credit to its War Loan Deposit Account.
No accrued interest is payable on subscriptions for Savings Bonds of Series E, F or G or Treasury
Savings Notes of Series C. Where subscriptions for such securities are submitted to the Federal Reserve
Bank at the end of the month, it is important that the following instructions be observed in order to assure
the issuance of the securities dated as of the first day of that month:
If payment is made by credit to War Loan Deposit Account, the credit should be entered not
later than the last business day of the month, and the subscription form and advice of such credit
should be mailed to the Federal Reserve Bank on the day of entry.
If payment is made by charge to a reserve account or nonmember clearing account maintained
with the Federal Reserve Bank, the subscription form and authorization to make such charge should
be received by the Federal Reserve Bank not later than the last business day of the month.
* The date of closing of the drive has not yet been announced by the Treasury.
Page 5
If payment for Savings Bonds is made by cheek, the subscription form and check should be
received by the Federal Reserve Bank not later than the last business day of the month.
If payment for Treasury Savings Notes is made by check, the subscription form and the check
should be received by the Federal Reserve Bank in sufficient time so that the proceeds of collection of
the check will be available to the Federal Reserve Bank in finally collected funds not later than the
last business day of the month.
Registration of securities
In all cases, the registration should express the true ownership of the security, that is, full legal title
with complete power of disposition; registration is not permitted in the name of an agent, nominee or
attorney-in-fact.
The registration of securities in the name of a woman should include the prefix Miss or Mrs., and the
Christian name of a married woman should be given, e.g. "Mrs. Mary B. D o e " , not "Mrs. John A. D o e " .
The regulations regarding the registration of United States Savings Bonds differ from those regarding the registration of other Government securities.
United States Savings Bonds of Series E, F and G are not transferable and are issued in registered form
only. The permissible forms of registration for each series are set forth in detail in Subpart B of Treasury
Department Circular No. 530, Fifth Revision, as amended, which appears on pages 22 and 23 of this
circular.
The 2Y2% Treasury Bonds of 1964-69 and the 2% Treasury Bonds of 1951-53 are issued in either
registered or coupon form. Such bonds may be registered in the name o f —
one individual, e.g. "Mrs. Mary B. D o e " ;
two individuals as coowners without right of survivorship, e.g. " J o h n A. Doe or Mrs. Mary B. Doe,
or either of t h e m " ;
two individuals as joint owners with right of survivorship, e.g. " J o h n A. Doe and Mrs. Mary B. Doe,
or the survivor";
a corporation, e.g. "Smith and Jones, Inc., a corporation";
a partnership, e.g.'' Smith & Doe, a partnership'';
I
an unincorporated association, lodge, society, or similar body, e.g.'' The Lotus Club, an unincorporated
association";
a fiduciary, e.g. " J o h n A. Smith, trustee under will of John B. Doe, deceased";
a custodian of public funds, e.g. "Treasurer, City of Buffalo, New Y o r k " .
In all cases, the complete post-office address (including the postal unit number, if any) of the registered
owner should be given in order to assure the proper mailing of interest checks.
The % % Treasury Certificates of Indebtedness
of Series E-1944 are issued in coupon form only.
Treasury Savings Notes, Series C, are not transferable and are inscribed in the name of a single owner.
The name should be in the same form as that used by the purchaser in making his Federal tax returns.
Where two individuals make a joint tax return, the notes should be inscribed in the name of one of them.
If the notes are purchased only for investment by an entity which does not make Federal tax returns as
such (e.g. a partnership), the application should state that the purchaser does not intend to use the notes
in payment of taxes and is purchasing them only for investment.
If questions arise concerning forms of registration not specifically covered by this summary or by the
following Treasury circulars, it is suggested that they be referred directly to the Federal Reserve Bank.
Limitations on amount of purchases
There is no limitation on the amount which any eligible investor may buy of the 2 y 2 % Treasury
Bonds of 1964-69, the 2% Treasury Bonds of 1951-53, the % % Treasury Certificates of Indebtedness of
Series E-1944, or the Treasury Savings Notes, Series C.
In the case of War Savings Bonds of Series E, the amount of bonds of such series issued during any
one calendar year (January 1—December 31) that may be held by any one person at any one time is
Page 6
limited to $5,000 (maturity value). Additional holdings are permitted, however, in certain circumstances
where bonds are registered in coownership form. In the case of Series E bonds so registered, no excess
exists if in a particular group of coowners the holdings are such that the entire amount held can be allocated among the several coowners without apportioning an aggregate amount in excess of $5,000 (maturity
value) to any one person, including any amount chargeable to that person individually. For example, if
a married man with two children has already purchased in 1943 $5,000 maturity value of bonds registered
in his own name, and his wife and children are not named as the registered owners or coowners of any
Series E bonds issued this year, he may purchase an additional $15,000 maturity value of such bonds
registered as follows: $5,000 in his name with his wife as coowner, $5,000 in his name with one child as
coowner, and $5,000 in his name with the other child as coowner.
The amount of Savings Bonds of either Series F or Series G, or of the combined aggregate of both,
issued during any one calendar year (January 1—December 31) that may be held by any one person,
whether registered in his name individually or as a coowner, at any one time is $100,000 (issue price).
Subscriptions to be entered where funds are located
The respective State quotas making up the 15 billion dollar goal for nonbanking subscriptions in the
Third War Loan Drive are based in large measure upon the location of bank deposits. For this reason, and
to avoid disturbances to bank reserve positions which might otherwise occur through unnecessary shifts of
deposit balances from one part of the country to another, or from one institution to another, subscribers to
Government securities should enter their subscriptions through the banks where their funds are on deposit.
The transfer of funds for the purpose of making a subscription not only constitutes a possible disturbance to bank reserve positions but customarily involves substantial and unnecessary work on the part
of the persons involved. A transfer of funds merely in order that the transferee bank may, through the
use of a War Loan Deposit Account, obtain the advantage of the temporary use of additional reserves, at the
expense of other banks, is not good practice and involves the war loan deposit account mechanism in a use
for which it is not intended. These transfers serve no proper purpose which cannot be accomplished by
statistical allocations of credit for sales.
Credit for sales
Detailed reports of sales according to geographical distribution will be submitted daily by the Federal
Reserve Bank to the Chairman of the War Finance Committee in each of the States in the Second Federal
Reserve District. Any questions regarding local quotas or sales credits should be referred to the local chairman of the War Finance Committee.
Credit for sales of Series E War Savings Bonds issued by an agent other than the Federal Reserve
Bank of New York will in general be given to the county in which such agent is situated.
Credit for sales of Series E War Savings Bonds issued by the Federal Reserve Bank of New York and
for sales of Savings Bonds of Series F or G will in general be given to the county indicated by the addresses
of the registered owners.
Credit for sales of all other issues offered in the drive will normally be given to the counties indicated
by the addresses of the purchasers appearing on the subscription forms received by the Federal Reserve
Bank of New York, except that credit for subscriptions entered through banking institutions located in
New York City for account of nonbanking corporations other than insurance companies will be given to
New York City. If a purchaser so desires, credit for the sale of any of these issues may be given, subject
to the following limitations, to a county or counties other than the county to which credit would normally
be given:
1. The subscription form received by the Federal Reserve Bank of New York should be accompanied
by a separate letter setting forth the name and address of the purchaser and the total amount of
his subscription, and listing the allocations desired by city or county, state and amount;
2. Not less than $50,000 may be allocated to any one county; and
3. No allocation may be made in respect of a sale to an insurance company.
The Treasury reserves the right to adjust or reduce the amount of transfers of credit for subscriptions
between States.
Page 7
FREQUENT QUESTIONS AND THEIR ANSWERS
regarding the
2i/ 2 % TREASURY BONDS OF 1964-69
2 % TREASURY BONDS OF 1951-53
and
% % TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES E-1944
1. First Coupon
What is the term of the first coupon on each of
these issues?
I n the case of the 2 y 2 % Treasury Bonds of 1964-69,
the first coupon will be for a three months' period and
thereafter interest will be paid on a semiannual basis on
June 15 and December 15.
In the case of the 2 % Treasury Bonds of 1951-53,
interest will be paid on a semiannual basis on March 15
and September 15, and therefore the first coupon will
be for a six months' period.
In the case of the
Treasury Certificates of Indebtedness of Series E-1944, the first coupon will be
for a period of approximately five and one-half months
and the second coupon for a six months' period.
2.
Subscriptions
(a) Should the names and addresses of customers be
given on the reverse side of the official subscription form furnished banking institutions by the
Federal Reserve Bank of New York?
YES.
(b) May brokers and dealers enter subscriptions for
account of customers?
N O T directly with the Federal Reserve Banks but they
may enter them through a banking institution. The
banking institution should enter the subscription on the
official subscription form furnished by the Federal
Reserve Bank.
(c) How soon will the securities be delivered on
subscriptions?
I N the case of coupon securities, probably within four
or five days following receipt of the subscription and
full payment. Subscriptions for registered securities
are forwarded to Washington to be filled and deliveries
will take somewhat longer.
(e) May there be more than one delivery instruction
on a subscription?
A . SEPARATE subscription should be submitted for each
group of securities as to which different delivery instructions are given. No changes in delivery instructions will be accepted.
(f) If a bank pays for these issues by credit to the War
Loan Deposit Account on its books, may the
credit be entered prior to September 15, 1943?
Y ES. If a bank so desires, it may enter the credit on or
after September 9, 1943, even though each of the issues
is dated September 15, 1943.
3.
General
(a) When will the books close for the receipt of subscriptions for these issues?
T H E closing date has not been announced by the Secretary of the Treasury. However, it has been indicated
that the subscription books will remain open for several
weeks. Approximately one week's advance notice was
given prior to the closing of the books in the previous
drives.
(b) On a subscription for more than $1,000 of the
2% Treasury Bonds of 1951-53 or the 2 % %
Treasury Bonds of 1964-69, is it necessary to pay
accrued interest on the entire amount or only on
the amount in excess of $1,000?
0 N the entire amount. Accrued interest will be waived
only on $500 and $1,000 subscriptions. For example,
on a subscription for $10,000, accrued interest on the
entire $10,000 must be paid. The waiver of interest on
subscriptions for $500 and $1,000 is for the convenience
of the small investor.
(c) Must subscriptions to the 2% Treasury Bonds of
1951-53 and the 2 % % Treasury Bonds of 1964-69
be in multiples of S500 and subscriptions to the
% % Treasurv Certificates of Indebtedness of
Series E-1944 "be in multiples of $1,000?
(d) Banks will be receiving from their customers applications for the various issues on application
forms provided by the War Finance Committee.
Should these forms be sent to the Federal Reserve
Bank of New York?
YES.
N o . Banks should retain these forms for their records
and submit subscriptions on behalf of their customers
on the official forms provided by the Federal Reserve
Bank of New York. Duplicate subscriptions should
not be filed with the Federal Reserve Bank.
1 NASMUCH
Page
8
These are the smallest denominations available.
(d) If a subscriber enters subscriptions to more than
one issue and elects to pay by check, can one
check be drawn covering all of the subscriptions?
as various types of securities are handled in
different parts of the Federal Reserve Bank of New
York, it will greatly facilitate the handling of subscriptions if a separate check is drawn for each issue for
which a subscription is entered.
[The form of Treasury Department Circular No. 653, Revised, dated June 1, 1942, reproduced below, gives effect
to First Amendment dated Jiine 17, 1943, which amended the provisions of Sections IV and V regarding limitations on
holdings and authorised forms of registration, respectively. This explanatory note and the footnotes in italics have been
added and are not parts of the original text.]
UNITED STATES WAR SAVINGS BONDS
SERIES E
ISSUED ON A DISCOUNT BASIS—PAYABLE 10 YEARS FROM ISSUE DATE, A T PAR
Investment Yield—Approximately 2.9 Percent to Maturity
Redeemable Before Maturity, at Option of Owners, at Fixed Redemption Values
Issued at 75 Percent of Maturity Value, in Registered Form Only, Not Transferable, With Registration Restricted to
Individuals. Not More Than $5,000 (Maturity Value) Originally Issued to Any One Person During Any One
Calendar Year May be Held by That Person at Any One Time. Coownership and Beneficiary Registration
Permitted.
UNITED STATES W A R SAVINGS STAMPS FOR INSTALLMENT PAYMENTS
1942
Department Circular No. 653, Revised
F. — — .
TREASURY
DEPARTMENT,
O F F I C E OF T H E
SECRETARY,
Washington, June 1,1942.
Bureau of the Public Debt
I. O F F E R I N G O F U N I T E D S T A T E S W A R S A V I N G S B O N D S O F S E R I E S E
1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as
amended, offers for sale, to the people of the United States, through the Postal Service and other designated agencies, United States Savings Bonds of Series E, which bonds are hereby designated United
States War Savings Bonds,1 and may hereinafter be referred to as bonds of Series E. A description
of the bonds, their terms, and the conditions of their issue and redemption are hereinafter fully set
forth.
2. United States Savings Bonds of Series E include bonds issued as Defense Savings Bonds
under this circular as originally published, and those issued as War Savings Bonds under this circular
as revised. The former bonds will be withdrawn from sale when existing stocks are exhausted, and
the new bonds will then be placed on sale without further notice, and their sale will continue until
terminated by the Secretary of the Treasury. As their terms and the conditions of their issue are
identical, no distinction is to be made between any bonds of Series E, whether issued as Defense or
as War Savings Bonds.
II. D E S C R I P T I O N A N D T E R M S O F B O N D S
1. The bonds of Series E will be issued only in registered form, in denominations of $25, $50,
$100, $500 and $1,000 (maturity values), at prices hereinafter set forth. Each bond will bear the facsimile signature of the Secretary of the Treasury, and will bear both an imprint (in red) and an
impression of the Seal of the Treasury. At the time of issue, the issuing agent will inscribe the
name and address of the owner on each bond, will enter the date as of which the bond is issued in
the upper right corner, and will imprint his dating stamp (with current date) in the circle in the
lower left corner. Bonds of Series E shall be valid only if duly inscribed and dated, as above provided, and delivered by an authorized agent following receipt of payment therefor.
2. The bonds will, in each instance, be dated as of the first day of the month in which payment
of the issue price is received by an agent authorized to issue the bonds; the bonds will mature and be
payable at face value 10 years from such issue date. The bonds may not be called for redemption by
the Secretary of the Treasury prior to maturity, but they may be redeemed prior to maturity, after
60 days from the issue date, at the owner's option, at fixed redemption values. No interest as such
will be paid on the bonds, but they will increase in redemption value at the end of the first year from
issue date, and at the end of each successive half-year period thereafter until their maturity, when
the face amount becomes payable. The increment in value will be payable only upon redemption of
1 United States Savings Bonds of Series F and G, issued pursuant to Department Circular No. 654, Revised, dated June 1, 1942, are also
included in the designation United States War Savings Bonds.
(The designation of bonds of Series F and G as United States War Savings Bonds has been revoked. Such bonds are now designated as
United States Savings Bonds.)
Page 9
the bonds. A table of redemption values for each bond appears on its face. The purchase price
of bonds of Series E has been fixed so as to afford an investment yield of about 2.9 percent per annum
compounded semiannually if the bonds are held to maturity; if the owner exercises his option to
redeem a bond prior to maturity the investment yield will be less. The table at the end of this circular shows: (1) How bonds of Series E, by denominations, increase in redemption value during
the successive half-year periods following issue, and (2) the computed investment yields (a) on the
issue price from issue date to the beginning of each half-year period, and (&) on the current redemption value from the beginning of each half-year period to maturity at the end of the 10-year period.
3. The bonds will not be transferable, and will be payable only to the owner named thereon,
except in case of death or disability of the owner or as otherwise specifically provided in the regulations governing savings bonds, and in any event only in accordance with such regulations. Accordingly they may not be sold, and may not be hypothecated as collateral for a loan.
4. TAXATION.—For the purpose of determining taxes and tax exemptions, the increment in value
represented by the difference between the price paid for United States Savings Bonds issued on a
discount basis, and the redemption value received therefor (whether at or before maturity) shall be
considered as interest, and such interest on bonds of Series E is not exempt from income or profits
taxes now or hereafter imposed by the United States.2 The bonds 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.
III.
PURCHASE
OF
BONDS
1. AGENCIES.—Bonds of Series E may be purchased, while this offer is in effect, as follows:
(a) Over-the-counter
for cash:
(1) At United States post offices of the first, second, and third classes, and at selected post
offices of the fourth class, and generally at classified stations and branches.
(2) At the Treasury Department, Washington, D. C., at Federal Reserve Banks and Branches,
and at such incorporated banks, trust companies, mutual savings banks and other agencies as are
duly designated and have duly qualified as sales agents pursuant to the provisions of Treasury Department Circular No. 657, dated April 15, 1941, as amended and supplemented.
(b) On mail order.—Bonds
Treasurer of the United States,
accompanied by a remittance to
checks, will be accepted, subject
to the order of the Treasurer of
of Series E may be purchased by mail upon application to the
Washington, D. C., or to any Federal Reserve Bank or Branch,
cover the issue price. Any form of exchange, including personal
to collection. Checks, or other forms of exchange, should be drawn
the United States or the Federal Reserve Bank, as the ease may be.
(c) Other agencies.—The Secretary of the Treasury, in his discretion, may designate other
agencies for the sale of, or for the handling of applications for, bonds of Series E, which shall operate under such terms and conditions as the Secretary of the Treasury may prescribe or approve.
2 . P O S T A L S A V I N G S . — S u b j e c t to regulations prescribed by the Board of Trustees of the Postal
Savings System, the withdrawal of postal savings deposits will be permitted for the purpose of
acquiring savings bonds.
3 . U N I T E D S T A T E S W A R S A V I N G S S T A M P S FOR I N S T A L L M E N T P A Y M E N T S . — W a r Savings Stamps,
in denominations of 10, 25, and 50 cents, and $1 and $5, may be purchased at any post office where
bonds of Series E are on sale and at such other agencies as may be designated from time to time.
These stamps may be used to accumulate credits for the purchase of War Savings Bonds. Albums,
for affixing the stamps, will be available without charge, and such albums will be receivable, in the
amount of the affixed stamps, on the purchase price of War Savings Bonds. A Treasury issue of
War Savings Stamps will hereafter be made available to replace the Postal Savings issue of Defense
Stamps. The latter stamps will be withdrawn from sale when existing stocks are exhausted and the
new stamps will be placed on sale without further notice, and their sale will continue until terminated
by the Secretary of the Treasury. Defense Postal Savings Stamps will hereafter be included in the
2 For information concerning the taxable and exempt status under Federal tax laws of the interest (increment in value) on United States
Savings Bonds issued on a discount basis (including bonds of Series E ) , and alternate methods of reporting such interest, see Internal Revenue
Mimeograph. Coll. No. 5299, R. A. No. 1177, dated December 17, 1941.
P a g e 10
term War Savings Stamps and no distinction is to be made between any such stamps whether issued
as Defense Postal Savings Stamps or as War Savings Stamps, and the stamps of either issue may be
used interchangeably to accumulate credits for the purchase of War Savings Bonds.
4 . I S S U E P R I C E S . — T h e issue prices of the various denominations of bonds of Series E follow:
D E N O M I N A T I O N (maturity value)
$25.00
$50.00
$100.00
$500.00
$1,000.00
I S S U E (purchase) P R I C E
$18.75
$37.50
$75.00
$375.00
$750.00
IV.
LIMITATION
ON
HOLDINGS*
1. The amount of War Savings Bonds of Series E originally issued during any one calendar year
to any one person that may be held by that person at any one time shall not exceed $ 5 , 0 0 0 , maturity
value, computed in accordance with the provisions of the regulations governing United States Savings
Bonds currently in force. Any bonds acquired on original issue which create an excess should immediately be surrendered for refund of the issue price as provided in such regulations.
V.
REGISTRATION*
1. Bonds of Series E may be registered only in the names of natural persons (that is, individuals), whether adults or minors, in their own right, as follows: (a) In the name of one person; (6)
in the names of two (but not more than two) persons as coowners; and (c) in the name of one person
payable on death to one (but not more than one) other designated person. Registration on original
issue and authorized reissue is restricted to residents of the United States (which for the purposes of
this section shall include the territories, insular possessions and the Canal Zone), citizens of the
United States temporarily residing abroad, and to nonresident aliens employed in the United States
by the Federal Government or an agency thereof, whether as owners, coowners or designated beneficiaries : Provided, however, That on original issues of bonds, but not on reissues, a nonresident alien
(not a citizen of an enemy nation) may be named as coowner or designated beneficiary, and Provided
further, That a nonresident alien, whether owner, coowner or beneficiary, succeeding to title on death
of the owner, or succeeding to title upon the death of the surviving coowner or beneficiary will be
entitled only to request and receive payment either at or before maturity.
2. Full information regarding authorized forms of registration will be found in the regulations
currently in force governing United States Savings Bonds.
VI.
DELIVERY
AND
SAFEKEEPING
OF
BONDS
OF
SERIES
E
1. Postmasters and other authorized sales agents from whom bonds of Series E may be purchased are authorized to deliver such bonds duly inscribed and dated upon receipt of the issue price.
Bonds issued upon mail order applications made to a Federal Reserve Bank or Branch, or to the
Treasurer of the United States will be delivered within the Continental United States, the Territories and Insular Possessions of the United States, the Canal Zone and the Philippine Islands.3 No
deliveries elsewhere will be made. If purchased by citizens of the United States temporarily residing abroad, bonds will be delivered in the United States, or held in safekeeping, as the purchaser may
direct. Delivery should not be accepted by any purchaser until he has vertified that the correct name
and address are duly inscribed on the face of the bond, that the bond is duly dated as of the first day
of the month in which payment of the issue price was received by the agent, and that the dating
stamp (with current date) of the postmaster or other issuing agent is imprinted in the circle in the
lower left corner of the bond.
2. A savings bond will be held in safekeeping without charge by the Secretary of the Treasury
if the holder so desires, and in such connection the facilities of the Federal Reserve Banks, as fiscal
agents of the United States, and those of the Treasurer of the United States, will be utilized.
Arrangements may be made for such safekeeping at the time of purchase, or subsequently. Postmasters generally, and branches of Federal Reserve Banks,4 will assist holders in arranging for safekeeping, but will not act as safekeeping agents.
VII.
PAYMENT
AT
MATURITY
OR
REDEMPTION
PRIOR
TO
MATURITY
1. GENERAL.—Any bond of Series E will be paid in full at maturity, or, at the option of the
owner, after 60 days from the issue date, will be redeemed in whole or in part at the appropriate
redemption value prior to maturity, following presentation and surrender of the bond, with the
request for payment properly executed, all in accordance with the regulations governing savings
bonds.
3 If bonds are issued within the United States, deliveries thereof outside the Continental United States, at the risk and expense of the
United States, may be suspended during the War emergency, but in any such case bonds will be delivered to addresses within the United States,
or will be held, in safekeeping, as the purchaser may direct.
* Safekeeping facilities may be offered at some Branches of Federal Reserve Banks, and in such connection an inquiry may be addressed to
the Branch.
(* As amended by First Amendment, dated June 17, 1943.)
P a g e 11
FRASER
Digitized for
2 . E X E C U T I O N OF R E Q U E S T FOR P A Y M E N T . — T h e registered owner, or other person entitled to
payment under the regulations governing savings bonds, must appear before one of the officers authorized by the Secretary of the Treasury to witness and certify requests for payment, establish his identity, and in the presence of such officer sign the request for payment, adding the address to which
the check is to be mailed. After the request for payment has been so signed, the witnessing officer
should complete and sign the certificate provided for his use. Unless otherwise authorized in a particular case, the form of request appearing on the back of the bond must be used.
3 . O F F I C E R S A U T H O R I Z E D TO W I T N E S S A N D C E R T I F Y
R E Q U E S T S FOR P A Y M E N T . — T h e
officers
authorized to witness and certify requests for payment of savings bonds are fully set forth in the
regulations governing savings bonds, such officers including United States postmasters and certain
other post office officials, and the executive officers of all banks or trust companies incorporated in
the United States or its organized Territories, including officers at domestic and foreign branches
who are certified to the Treasury Department as executive officers.
4 . P R E S E N T A T I O N A N D SURRENDER.—After the request for payment has been duly executed by
the person entitled and by the certifying officer, the bond must be presented and surrendered to the
Treasury Department, Washington, or to a Federal Reserve Bank or Branch, at the expense and
risk of the owner. For the owner's protection, the bond should be forwarded by registered mail, if
not presented in person.
5. D I S A B I L I T Y OR D E A T H . — I n case of the disability of the registered owner, or the death of the
registered owner not survived by a coowner or a designated beneficiary, instructions should be obtained from the Treasury Department, Division of Loans and Currency, Washington, D. C., before
the request for payment is executed.
6. M E T H O D OF PAYMENT.—The only agencies authorized to pay or redeem savings bonds are the
Treasury Department and the Federal Reserve Banks, but bonds to be redeemed may be presented to
Branches of Federal Reserve Banks. Postmasters are not authorized to make payment, but generally they will assist owners in securing payment, at or before maturity. Payment in all cases will
be made by check drawn to the order of the registered owner or other person entitled to payment,
and mailed to the address given in the request for payment.
7. P A R T I A L REDEMPTION.—Partial redemption at current redemption value of a savings bond of
Series E of a denomination higher than $25 (maturity value) is permitted, but must accord to an
authorized denomination. In case of partial redemption the remainder will be reissued in authorized denominations bearing the same issue date as the bond surrendered.
VIII.
SERIES
DESIGNATION
1. United States Savings Bonds of Series E, issued during the calendar year 1942 (either as Defense or War Savings Bonds) will be designated Series E-1942, and those which may be issued in
subsequent calendar years will be similarly designated by the series letter E followed by the year of
issue
IX.
GENERAL
PROVISIONS
1. All bonds of Series E, issued pursuant to this circular, shall be subject to the regulations prescribed from time to time by the Secretary of the Treasury to govern United States Savings Bonds.
Such regulations may require, among other things, reasonable notice in case of presentation of bonds
of Series E for redemption prior to maturity. The present regulations governing savings bonds are
set forth in Treasury Department Circular No. 530, Fifth Revision, dated June 1, 1942, copies of
which may fee obtained on application to the Treasury Department, or to any Federal Reserve Bank.
2. The Secretary of the Treasury reserves the right to reject any application for bonds of Series
E, in whole or in part, and to refuse to issue or permit to be issued hereunder any such bonds in any
case or any class or classes of cases if he deems such action to be in the public interest, and his action
in any such respect shall be final.
3. Postmasters in charge of post offices where bonds of Series E are on sale, under regulations
promulgated by the Postmaster General, and Federal Reserve Banks, as fiscal agents of the United
States, are authorized to perform such fiscal agency services as may be requested of them by the Secretary ef the Treasury in connection with the issue, delivery, safekeeping, redemption, and payment
of bonds of Series E. Other sales agencies will be subject to the provisions of Treasury Department
Circular No. 657, dated April 15, 1941, as amended or supplemented.
4. The Secretary of the Treasury may at any time or from time to time supplement or amend
Page 12
the terms of this circular, or of any amendments or supplements thereto, information as to which will
be promptly furnished to the Postmaster General, the Federal Reserve Banks and other sales agencies.
5. The offering of United States Savings Bonds of Series E, pursuant to this circular, revised, is
separate and distinct from the concurrent offerings of United States Savings Bonds of Series F and
of Series G, pursuant to Treasury Department Circular No. 654, Revised, dated June 1, 1942. The
bonds of Series E, F and G so offered and issued constitute issues of United States War Savings
Bonds, and are so designated.
H E N R Y MORGENTHATT, J R . ,
Secretary of the Treasury.
UNITED STATES SAYINGS BONDS—SERIES E
TABLE OF REDEMPTION VALUES AND INVESTMENT YIELDS
Table showing : (1) How bonds of Series E, by denominations, increase in redemption value during successive half-year periods following issue; (2) the approximate investment yield on the purchase price from issue date to the beginning of each half-year period; and (3) the approximate
investment yield on the current redemption value from the beginning of each half-year period to
maturity. Yields are expressed in terms of rate percent per annum, compounded semiannually.
Maturity Value
Issue Price
Period after issue date
First y 2 year
% to 1 year
1 to
years
i y 2 to 2 years
$25. 00
$18.75
$50. 00
$37. 50
$100. 00
$75.00
$500. 00
$375. 00
$1,000. 00
$750. 00
( l ) Redemption values during each half-year period
$18.75
18. 75
18. 87
19. 00
$37. 50
37. 50
37. 75
38.00
$75. 00
75. 00
75. 50
76. 00
$375. 00
375. 00
377.50
380. 00
$750.00
750.00
755.00
760. 00
(2 )_ Approximate
investment
yield on purchase price
from issue date
to beginning
of each halfyear period
(3)_Approximate
investment
yield on current
redemption
value from beginning of each
half-year period
to maturity
Percent
Percent
0. 00
.67
.88
*2. 90
3. 05
3.15
3.25
2 to 2 y 2
2 y 2 to 3
3 to Zy2
3% to 4
years
years
years
years
19.12
19.25
19. 50
19. 75
38. 25
38. 50
39. 00
39. 50
76. 50
77.00
78. 00
79. 00
382.50
385. 00
390. 00
395. 00
765. 00
770.00
780. 00
790.00
.99
1.06
1.31
1. 49
3. 38
3.52
3.58
3.66
4 to 4^2
4 y2 to 5
5 to 5
to 6
years
years
years
years
20. 00
20.25
20. 50
20. 75
40. 00
40. 50
41. 00
41. 50
80. 00
81. 00
82. 00
83. 00
400. 00
405. 00
410.00
415.00
800.00
810.00
820.00
830. 00
1.62
1. 72
1. 79
1. 85
3.75
3.87
4. 01
4.18
6 to 6x/2
to 7
7 to 7 x/2
i y 2 to 8
years
years
years
years
21.00
21. 50
22.00
22. 50
42. 00
43.00
44. 00
45. 00
84. 00
86. 00
88. 00
90. 00
420.00
430. 00
440. 00
450.00
840. 00
860. 00
880. 00
900.00
1. 90
2.12
2. 30
2. 45
4. 41
4. 36
4.31
4. 26
23. 00
23. 50
24. 00
24. 50
46. 00
47. 00
48. 00
49. 00
92. 00
94. 00
96. 00
98. 00
460. 00
470. 00
480. 00
490. 00
920. 00
940. 00
960. 00
980. 00
2. 57
2. 67
2.76
2. 84
4. 21
4.17
4.12
4. 08
$25. 00
$50. 00
$100. 00
$500. 00
$1,000. 00
2.90
8 to 8% years
8 y<2 to 9 years
9 to 9 y2 years
9 y2 to 10 years
MATURITY VALUE
(10 years from issue
date)
•Approximate investment yield for entire period from issuance to maturity.
OTHER SERIES
United States Savings Bonds of Series F and of Series G are also offered for sale concurrently
with bonds of Series E. The bonds of Series F will be issued on a discount basis, with a 12-year
maturity, at 74 percent of their maturity value; if held to maturity the yield will approximate 2.53
percent per annum. The bonds of Series G, likewise with a 12-year maturity, will be issued at par,
and will bear interest at the rate of 2 % percent per annum payable semiannually. The bonds of
both series will be redeemable before maturity, at the option of owners, at fixed redemption values,
in which case the investment yields will be less than if held to maturity. These bonds are intended
to provide facilities for the larger investors, and registration will not be restricted to individuals.
The aggregate amount of bonds of either series, or of the two series combined, originally issued to
any one person during any one calendar year that may be held by that person at any one time may
not exceed $100,000 (issue price). Full particulars regarding these bonds are set forth in Treasury
Department Circular No. 654, Revised, dated June 1, 1942, copies of which may be obtained from the
Treasury Department, Washington, or from any Federal Reserve Bank.
Page 13
[The form of Treasury Department Circular No. 654, Revised, dated June 1, 1942, reproduced below, gives effect
to First Amendment dated November 30, 1942, which changed the designation of the bonds from United States War
Savings Bonds to United States Savings Bonds, and Second Amendment, dated June 17, 1943, which amended the provisions of Section V regarding authorized forms of registration.
This explanatory note and the footnotes in italics have
been added and are not parts of the original text.]
UNITED STATES SAVINGS BONDS
SERIES F—12-YEAR APPRECIATION BONDS
Issued on a Discount Basis at 74 Percent of Maturity Value,
Investment Yield—Approximately 2.53 Percent to Maturity
SERIES G—12-YEAR CURRENT INCOME BONDS
Issued at Par, Bearing Interest at the Rate of 2*4 Percent Per Annum
REDEEMABLE BEFORE MATURITY, AFTER SIX MONTHS FROM DATE OF ISSUE, AT OPTION OF
OWNERS, AT FIXED REDEMPTION VALUES, ON THE FIRST DAY OF ANY MONTH, ON ONE MONTH'S
NOTICE.
Issued only in registered form, not transferable; the aggregate amount of bonds of either series or of the two series
combined originally issued to any one person during any one calendar year that may be held by that person at any
one time may not exceed $100,000 (issue price).
1942
Department Circular No. 654, Revised
Fiscal Service
Bureau of the Public Debt
I.
TREASURY
DEPARTMENT,
O F F I C E OF T H E S E C R E T A R Y ,
Washington, June 1, 1942.
O F F E R I N G OF U N I T E D STATES SAVINGS BONDS OF SERIES F A N D SERIES G
1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as
amended, offers for sale, to the people of the United States, through the Federal Reserve Banks,
United States Savings Bonds of Series F and Series G, which bonds are hereby designated United
States War* Savings Bonds,1 and may hereinafter be referred to as bonds of Series F and Series G.
Descriptions of the bonds of both series, their terms, and the conditions of their issue and redemption are hereinafter fully set forth.
2. United States Savings Bonds of Series F and G include bonds issued as bonds of Defense
Series F and G under this circular as originally published and amended, and those issued as War*
Savings Bonds under this circular as revised. The former bonds will be withdrawn from sale when
existing stocks are exhausted, and the new bonds will then be placed on sale without further notice,
and their sale will continue until terminated by the Secretary of the Treasury. As their terms and
the conditions of their issue are identical, no distinction is to be made between any bonds of Series
F or G, whether issued as bonds of Defense Series F or G or as War* Savings Bonds.
II. D E S C R I P T I O N A N D T E R M S O F B O N D S
1. The bonds of Series F and Series G will be issued only in registered form, in denominations
of $25 (for Series F only), $100, $500, $1,000, $5,000 and $10,000 (maturity values) at prices hereinafter set forth. Each bond will bear the facsimile signature of the Secretary of the Treasury, and
will bear both an imprint in color (brown for Series F and blue for Series G) and an impression of
the Seal of the Treasury. At the time of issue, the issuing agent will inscribe the name and address
of the owner on each bond, will enter the date as of which the bond is issued in the upper right corner, and will imprint his dating stamp (with current date) in the circle in the lower left corner.
The bonds shall be valid only if duly inscribed and dated, as above provided, and delivered by an
authorized agent following receipt of payment therefor.
2. The bonds of each series will, in each instance, be dated as of the first day of the month in
which payment of the issue price is received by an agent authorized to issue the bonds (see Sec. I l l ) ;
1 United States Savings Bonds of Series E, issued pursuant to Department Circular No. 653, Revised, dated June 1, 1942, are also
included in the designation United States War Savings Bonds.
(* The designation of bonds of Series F and Series G as United States War Savings Bonds having been revoked, this circular
was amended by First Amendment, dated November 30, 1942, effective December 1, 1942, "by striking out any reference to or designation
of such bonds as War Savings Bonds."
Accordingly they are now designated as United States Savings BondsJ
Page 14
the bonds will mature and be payable at face value 12 years from such issue date. The bonds of
either series may not be called for redemption by the Secretary of the Treasury prior to maturity, but
they may be redeemed prior to maturity, after six months from the issue date, at the owner's option,
at fixed redemption values, as hereinafter provided.
3. Bonds of Series F will be issued on a discount basis at 74 percent of their maturity value. No
interest as such will be paid on the bonds, but they will increase in redemption value at the end of
the first year from issue date, and at the end of each successive half-year period thereafter until their
maturity, when the face amount becomes payable. The increment in value will be payable only upon
redemption of the bonds. A table of redemption values for each bond appears on its face. The purchase price of bonds of Series F has been fixed so as to afford an investment yield of about 2.53 percent per annum compounded semiannually if the bonds are held to maturity; if the owner exercises
his option to redeem a bond prior to maturity the investment yield will be less.
4. Bonds of Series G will be issued at par, and will bear interest at the rate of 2 % percent per
annum, payable semiannually from date of issue. Interest will be paid by check drawn to the order
of the registered owner and mailed to his address. Interest will cease at maturity, or, in case of
redemption before maturity, at the end of the interest period next preceding the date of redemption. A table of redemption values for each bond appears on its face, and the difference between
the face amount of the bond and the redemption value fixed for any period represents an adjustment
(or refund) of interest. Accordingly, if the owner exercises his option to redeem a bond prior to
maturity, the investment yield will be less than the interest rate on the bonds. Bonds of Series G
may be redeemed at par (1) upon the death of the owner, or a coowner, if a natural person, or (2),
as to bonds held by a trustee or other fiduciary, upon the death of any person which results in termination of the trust, in whole or in part. If the trust is terminated only in part, redemption at par
will be made only to the extent of the pro rata portion of the trust so terminated, to the next lower
multiple of $100. In any ease request for redemption at par must be made within 4 months after the
date of death and in accordance with the regulations governing savings bonds.
5. Tables at the end of this circular show separately for bonds of Series F and those of Series
G: (1) The redemption values, by denominations, during the successive half-year periods following
issue, and (2) the computed investment yields (a) on the issue price from issue date to the beginning
of each half-year period, and (&) on the current redemption value from the beginning of each halfyear period to maturity at the end of the 12-year period.
6. The bonds will not be transferable, and will be payable only to the owner named thereon,
except in case of death or disability of the owner or as otherwise specifically provided in the regulations governing savings bonds, and in any event only in accordance with such regulations. Accordingly they may not be sold, and may not be hypothecated as collateral for a loan.
7. Taxation.—For the purpose of determining taxes and tax exemptions, the increment in
value of savings bonds of Series F represented by the difference between the price paid and the
redemption value received therefor (whether at or before maturity) shall be considered as interest,
and such interest on such bonds of Series F, and interest on bonds of Series G, is not exempt from
income or profits taxes now or hereafter imposed by the United States.2 The bonds 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.
III. P U R C H A S E OF B O N D S
1. Agencies.—Bonds of Series F and Series G may be purchased, while this offer is in effect,
upon application to any Federal Reserve Bank or Branch, or to the Treasurer of the United States,
Washington, D. C. Sales agencies, duly qualified under the provisions of Treasury Department
Circular No. 657, dated April 15, 1941, as amended and supplemented, and banking institutions
generally, may submit applications for account of customers, but only the Federal Reserve Banks
(and Branches) and the Treasury Department are authorized to act as. official agencies, and the
receipt of application and payment at an official agency will govern the dating of the bonds issued.
1 For information concerning the taxable and exempt status under Federal tax laws of the interest (or increment in value of those issued
on a discount basis, including bonds of Series F ) , and the methods of reporting such interest, see Internal Revenue Mimeograph, Coll. No.
5299, R. A. No. 1177, dated December 17, 1941.
Page IS
2. Payment for ~bonds.—Every application must be accompanied by payment in full of the issue
price. Any form of exchange, including personal checks, will be accepted, subject to collection.
Checks, or other forms of exchange, should be drawn to the order of the Federal Reserve Bank,
or the Treasurer of the United States, as the case may be. Any qualified depositary, pursuant to
the provisions of Treasury Department Circular No. 92 (Revised February 23, 1932, as supplemented), will be permitted to make payment by credit for bonds applied for on behalf of its customers up to any amount for which it shall be qualified in excess of existing deposits, when so notified
by the Federal Reserve Bank of its district.
3. Postal savings.—Subject to regulations prescribed by the Board of Trustees of the Postal
Savings System, the withdrawal of postal savings deposits will be permitted for the purpose of
acquiring savings bonds.
4. Other agencies.—The Secretary of the Treasury, in his discretion, may designate agencies
other than those herein designated for the sale of, or for the handling of applications for, savings
bonds of Series F and Series G.
5. Form of application.—In applying for bonds under this circular, care should be exercised
to specify whether those of Series F or Series G are desired, and there must be furnished:
(1) Instructions for registration of the bonds to be issued, which must be in one of the authorized
forms (see Sec. V ) ; (2) the post office address of each person (or other entity) whose name appears
in the registration; (3) address for delivery of the bonds; and (4), in case of bonds of Series G,
address for mailing interest checks. The use of an official application form is desirable, but not necessary. The application should be forwarded to the Federal Reserve Bank, or Branch, of the district,
accompanied by remittance to cover the purchase price ($74 for each $100 face amount of bonds of
Series F, or $100 for each $100 face amount of bonds of Series G).
6. Issue prices.—The
Series G follow:
issue prices of the various denominations of bonds of Series F and
SERIES F
Denomination (maturity value)
Issue (purchase) Price
$25.00
$18.50
$100
$74
$500
$370
$1,000
$740
$5,000
$3,700
$10,000
$7,400
$500
$500
$1,000
$1,000
$5,000
$5,000
$10,000
$10,000
SERIES G
Denomination (maturity value)
Issue (purchase) Price
$100
$100
IV.
L I M I T A T I O N ON
HOLDINGS
1. The amount of United States Savings Bonds of Series F, or of Series G, or the combined
aggregate amount of both series, originally issued during any one calendar year to any one person,
including those registered in the name of that person alone, and those registered in the name of that
person with another named as coowner, that may be held by that person at any one time shall not
exceed $100,000 (issue price), effective for the calendar year 1942, and thereafter. Any bonds
acquired on original issue which create an excess must immediately be surrendered for refund of
the issue price, as provided in the regulations governing savings bonds.
V. A U T H O R I Z E D F O R M S O F
REGISTRATION*
1. United States Savings Bonds of Series F and Series G may be registered as follows:
(1) In the names of natural persons (that is, individuals) whether adults or minors, in their
own right, as follows:
(a) In the name of one person,
(&) In the names of two (but not more than two) persons as coowners, and
(c) In the name of one person payable on death to one (but not more than one) other designated
person;
(2) In the name of an incorporated or unincorporated body, in its own right (except a commercial bank, which, for this purpose, is defined as a bank that accepts demand deposits);
(* As amended by Second Amendment, dated June 17, 1943.)
Page 16
(3) In the name of a fiduciary; and
(4) In the name of the owner or custodian of public funds.
2. Restrictions.—Registration on original issue and authorized reissue is restricted to residents
(whether individuals or others) of the United States (which for the purposes of this paragraph shall
include the territories, insular possessions and the Canal Zone), citizens of the United States temporarily residing abroad, and to nonresident aliens employed in the United States by the Federal Government or an agency thereof, whether as owners, coowners or designated beneficiaries: Provided,
however, That on original issues of bonds, but not on reissues, a nonresident alien (not a citizen of an
enemy nation) may be named as coowner or designated beneficiary, and Provided further, That a nonresident alien, whether owner, coowner or beneficiary, succeeding to title on death of the owner, or
succeeding to title upon the death of the surviving coowner or beneficiary will be entitled only to
request and receive payment either at or before maturity and will not be entitled to reissue.
3. Full information regarding authorized forms of registration will be found in the regulations
currently in force governing United States Savings Bonds.
VI. D E L I V E R Y AND SAFEKEEPING OF BONDS
1. Federal Reserve Banks (and Branches) are authorized to deliver bonds of Series F and
Series G duly inscribed and dated upon receipt of the issue price. Unless delivered in person, bonds
issued will be delivered within the Continental United States, the Territories and Insular Possessions of the United States, the Canal Zone and the Philippine Islands.3 No deliveries elsewhere will
be made. If purchased by citizens of the United States temporarily residing abroad, bonds will be
delivered in the United States, or held in safekeeping, as the purchaser may direct. Delivery should
not be accepted by any purchaser until he has verified that the correct name and address are duly
inscribed on the face of the bond, that the bond is duly dated as of the first day of the month in
which payment of the issue price was received by the agent, and that the dating stamp (with current date) of the issuing agent is imprinted in the circle in the lower left corner of the bond.
2. Savings bonds of Series F or Series G will be held in safekeeping without charge by the
Secretary of the Treasury if the holder so desires, and in such connection the facilities of the Federal Reserve Banks, as fiscal agents of the United States, and those of the Treasurer of the United
States, will be utilized.4 Arrangements may be made for such safekeeping at the time of purchase,
or subsequently.
VII. P A Y M E N T AT M A T U R I T Y O R R E D E M P T I O N B E F O R E
MATURITY
1. General.—Any savings bond of Series F or Series G will be paid in full at maturity, or, at
the option of the owner, after 6 months from the issue date, will be redeemed in whole or in part at
the appropriate redemption value prior to maturity, on the first day of any calendar month, on one
month's notice in writing, following presentation and surrender of the bond, with the request for payment properly executed, all in accordance with the regulations governing savings bonds.
2. Notice of redemption.—When a savings bond of Series F or Series G is to be redeemed prior
to maturity, a notice in writing of the owner's intention must be given to and be received by a Federal Reserve Bank or Branch, or the Treasury Department not less than one calendar month in
advance. A duly executed request for payment will be accepted as constituting the required notice.
3. Execution of request for payment.—The registered owner, or other person entitled to payment under the regulations governing savings bonds, must appear before one of the officers authorized by the Secretary of the Treasury to witness and certify requests for payment, establish his
identity, and in the presence of such officer sign the request for payment, adding the address to which
the cheek is to be mailed. After the request for payment has been so signed, the witnessing officer
should complete and sign the certificate provided for his use. Unless otherwise authorized in a particular case, the form of request appearing on the back of the bond must be used.
4. Officers authorized to witness and certify requests for payment.—The officers authorized to
witness and certify requests for payment of savings bonds are fully set forth in the regulations governing savings bonds, such officers including United States postmasters and certain other post office
3 If bonds are issued within the United States, deliveries thereof outside the Continental United States, at the risk and expense of the
United States, may be suspended during the War emergency, but in any such case bonds will be delivered to addresses within the United
States, or will be held in safekeeping, as the purchaser may direct.
4 Safekeeping facilities may be offered at some Branches of Federal Reserve Banks, and in such connection an inquiry may be addressed to
the Branch.
Page 17
officials, and the executive officers of all banks and trust companies incorporated in the United States
or its organized Territories, including officers at domestic and foreign branches who are certified to
the Treasury Department as executive officers.
5. Presentation and surrender.—After the request for payment has been duly executed by the
person entitled and by the certifying officer, the bond must be presented and surrendered to a Federal Reserve Bank or Branch, or to the Treasury Department, Washington, at the expense and risk
of the owner. For the owner's protection, the bond should be forwarded by registered mail, if not
presented in person.
6. Disability or death.—In case of the disability of the registered owner, or the death of the
registered owner not survived by a coowner or a designated beneficiary, instructions should be
obtained from the Treasury Department, Division of Loans and Currency, Washington, D. C., before
the request for payment is executed.
7. Method of payment.—The only agencies authorized to pay or redeem savings bonds are the
Federal Reserve Banks and the Treasury Department. Payment in all cases will be made by check
drawn to the order of the registered owner or other person entitled to payment, and mailed to the
address given in the request for payment.
8. Partial redemption.—Partial redemption at current redemption value of a bond of Series F,
of a denomination higher than $25 (maturity value), or of a bond of Series G, of a denomination
higher than $100, is permitted, but must correspond to an authorized denomination. In case of
partial redemption the remainder will be reissued in authorized denominations bearing the same
issue date as the bond surrendered.
VIII.
SERIES
DESIGNATION
1. Bonds of Series F, issued during the calendar year 1942 (either as Defense Series or as War*
Savings Bonds) will be designated Series F-1942, and those of Series G will be similarly designated
Series G-1942. Bonds of either series which may be issued in subsequent calendar years will be
similarly designated by the series letter, F or G, followed by the year of issue.
IX.
GENERAL
PROVISIONS
1. All bonds of Series F and Series G, issued pursuant to this circular, shall be subject to the
regulations prescribed from time to time by the Secretary of the Treasury to govern United States
Savings Bonds. The present regulations governing savings bonds are set forth in Treasury Department Circular No. 530, Fifth Revision, dated June 1, 1942, copies of which may be obtained on application to the Treasury Department, or to any Federal Reserve Bank.
2. The Secretary of the Treasury reserves the right to reject any application for savings bonds
of either Series F or Series G, in whole or in part, and to refuse to issue or permit to be issued hereunder any such savings bonds in any case or any class or classes of cases if he deems such action to
be in the public interest, and his action in any such respect shall be final.
3. Federal Reserve Banks, as fiscal agents of the United States, are authorized to perform such
services as may be requested of them by the Secretary of the Treasury in connection with the issue,
delivery, safekeeping, redemption, and payment of savings bonds of Series F and Series G.
4. The Secretary of the Treasury may at any time or from time to time supplement or amend
the terms of this circular, or of any amendments or supplements thereto, information as to which
will be promptly furnished the Federal Reserve Banks.
5. The offerings of United States Savings Bonds of Series F and of Series G, pursuant to this
circular, revised, are separate and distinct from the concurrent offering of United States Savings
Bonds of Series E pursuant to Department Circular No. 653, Revised, dated June 1, 1942. The bonds
of Series E, F and G so offered and issued constitute issues of United States War Savings Bonds, and
are so designated.*
HENRY MORGENTHAU, JR.,
Secretary of the Treasury.
(* The designation of bonds of Series F and Series G as United States War Savings Bonds having been revoked, this circular
was amended by First Amendment, dated November 30, 1942, effective December 1, 1942, "by striking out any reference to or designation
of such bonds as War Savings Bonds."
Accordingly they are now designated as United States Savings BondsJ
Page 18
UNITED STATES SAVINGS BONDS—SERIES F
TABLE OF REDEMPTION VALUES AND INVESTMENT YIELDS
Table showing: (1) How United States Savings Bonds of Series F, by denominations, increase in redemption value
during successive half-year periods following issue; (2) the approximate investment yield on the purchase price from
issue date to the beginning of each half-year period; and (3) the approximate investment yield on the current redemption
value from the beginning of each half-year period to maturity. Yields are expressed in terms of rate percent per annum,
compounded semiannually.
Maturity Value
Issue Price
$25.00
$18. 50
Period after issue date
First y2 year
y2 to 1 year
1 to iy2 years
1-^2 to 2 years
2 to 2 y2
2y2 to 3
3 to 3 y2
3y2 to 4
years
years
years
years
$100. 00
$74. 00
$500. 00
$370. 00
$1, 000
$740
$5, 000
$3, 700
$10,000
$7, 400
(1) Redemption values during each half-year period
Not redeemable. . .
$18.50
$74.00 $370. 00
18. 55
74. 20
371.00
18. 62
74. 50
372.50
(2) Approximate
investment
yield on purchase price
from issue date
to beginning
of each halfyear period
(3) Approximate
_ investment
yield on current
redemption
value from beginning of each
half-year period
to maturity
Percent
Percent
$740
742
745
$3,700
3,710
3, 725
$7, 400
7, 420
7, 450
0. 00
.27
.45
*2 53
2. 64
2. 73
2. 82
18.72
18. 85
19.00
19.17
74. 90
75. 40
76. 00
76. 70
374. 50
377. 00
380.00
383.50
749
754
760
767
3, 745
3,770
3, 800
3, 835
7, 490
7, 540
7, 600
7, 670
.61
.75
.89
1. 03
2.91
2. 99
3.07
3. 15
4 to 4 y% years
4 y2 to 5 years
5 to 5 y2 years
5% to 6 years
19. 40
19. 65
19. 92
20. 22
77. 60
78. 60
79. 70
80. 90
388. 00
393.00
398.50
404.50
776
786
797
809
3, 880
3, 930
3, 985
4, 045
7, 760
7, 860
7,970
8, 090
1.19
1. 34
1.49
1. 63
3.20
3. 24
3. 27
3. 29
6 to &y2 years
6y2 to 7 years
7 to 7 y2 years
7 y2 to 8 years
20. 55
20. 87
21. 20
21. 52
82. 20
83. 50
84. 80
86.10
411.00
417.50
424.00
430.50
822
835
848
861
4,110
4,175
4, 240
4, 305
8, 220
8,350
8, 480
8, 610
1. 76
1. 87
1.96
2. 03
3.29
3.31
3.32
3. 35
8 to 8% years
8 y2 to 9 years
9 to 9y2 years
9 y2 to 10 years
21. 85
22.17
22. 50
22. 85
87.40
88. 70
90. 00
91. 40
437. 00
443.50
450. 00
457. 00
874
887
900
914
4,370
4, 435
4, 500
4,570
8, 740
8,870
9, 000
9,140
2.09
2. 14
2. 19
2. 24
3. 40
3.46
3. 54
3. 63
10 to 10 y2
1 0 ^ to 11
11 to 11 y2
11 y2 to 12
23. 22
23. 62
24. 05
24. 50
92. 90
94. 50
96. 20
98. 00
464.50
472.50
481.00
490.00
929
945
962
980
4, 645
4, 725
4,810
4, 900
9, 290
9, 450
9, 620
9, 800
2. 29
2. 34
2. 40
2. 46
3. 72
3. 81
3.91
4. 08
MATURITY VALUE
(12 years from issue
$25. 00
date)
$100. 00
$500. 00
$1, 000
$5, 000
$10, 000
2. 53
years
years
years
years
•Approximate investment yield for entire period from issuance to maturity.
Page 19
UNITED STATES SAVINGS BONDS—SERIES G
TABLE OF REDEMPTION VALUES AND INVESTMENT YIELDS
Table showing: (1) How United States Savings Bonds of Series G (paying a current return at the rate of 2% percent
per annum on the purchase price, payable semiannually) change in redemption value, by denominations, during successive
half-year periods following issue; (2) the approximate investment yield on the purchase price from issue date to the
beginning of each half-year period; and (3) the approximate investment yield on the current redemption value from the
beginning of each half-year period to maturity. Yields are expressed in terms of rate percent per annum, compounded
semiannually, and take into account the current return.
Maturity Value
Issue Price
Period after issue date
First % year
V2 to 1 year
1 to i y 2 years
IV2 to 2 years
$100.00
$100. 00
$500. 00
$500.00
$1,000
$1,000
$5,000
$5, 000
$10, 000
$10, 000
(l) Redemption values during each half-year period
N o t rp.dp.ftmahlfi
(2) Approximate
investment
yield on purchase price
from issue date
to beginning
of each halfyear period
(3) Approximate
investment
yield on current
redemption
value from beginning of each
half-year period
to maturity
Percent
Percent
*2
50
$98.80
97. 80
96. 90
$494.00
489.00
484.50
$988
978
969
$4, 940
4, 890
4, 845
$9, 880
9, 780
9, 690
0. 10
.30
.44
2 to 2 Vz years
2% to 3 years
3 to 3Y2 years
3% to 4 years
96. 20
95. 60
95.10
94. 80
481.00
478. 00
475. 50
474.00
962
956
951
948
4, 810
4, 780
4, 755
4, 740
9, 620
9, 560
9, 510
9, 480
.61
.75
.88
1. 04
2. 94
3. 04
3. 13
3. 20
4 to 4
years
4% to 5 years
5 to 5 y2 years
5 % to 6 years
94. 70
94. 70
94. 90
95. 20
473.50
473. 50
474.50
476. 00
947
947
949
952
4, 735
4, 735
4, 745
4, 760
9, 470
9,470
9, 490
9, 520
1.20
1.35
1.51
1. 66
3. 26
3.30
3.32
3. 33
6 to 6% years
to 7 years
7 to 71/2 years
7 y>i to 8 years
95. 50
95. 80
96.10
96. 40
477. 50
479. 00
480.50
482.00
955
958
961
964
4,775
4, 790
4, 805
4, 820
9, 550
9, 580
9, 610
9, 640
1. 79
1. 89
1.98
2. 05
3.33
3.34
3.35
3.37
8 to 8
years
8 V& to 9 years
9 to 9 y2 years
9 y% to 10 years
96. 70
97. 00
97. 30
97. 60
483. 50
485. 00
486. 50
488. 00
967
970
973
976
4, 835
4, 850
4, 865
4, 880
9, 670
9, 700
9, 730
9, 760
2.12
2. 18
2. 23
2. 27
3.39
3. 42
3.46
3. 51
10 to 10 %
10 y2 to 11
11 to 11%
11% to 12
97. 90
98. 20
98. 60
99. 20
489.50
491.00
493. 00
496. 00
979
982
986
992
4, 895
4, 910
4, 930
4, 960
9, 790
9, 820
9, 860
9, 920
2. 31
2. 35
2.39
2. 44
3.60
3. 75
3. 94
4.13
$100. 00
$500. 00
$1, 000
$5, 000
$10, 000
2.50
years
years
years
years
MATURITY VALUE
(12 years from issue
date)
2. 62
2. 73
2. 84
* Approximate investment yield for entire period from issuance to maturity.
OTHER
SERIES
United States Savings Bonds of Series E are also offered for sale concurrently with those of
Series F and Series G. They are intended primarily for the investment of small or moderate amounts
saved from current income by individuals, and their issue is restricted to individuals in their own
right, with the amount originally issued to any one person during any one calendar year that that
person may hold limited to $5,000 (maturity value). Full particulars regarding Savings Bonds of
Series E are set forth in Treasury Department Circular No. 653, Revised, dated June 1, 1942, copies
of which may be obtained from the Treasury Department, Washington, or from any Federal Reserve
Bank.
Page 20
[The form of Treasury Department Circular No. 530, Fifth Revision, dated June 1, 1942, reproduced below, gives effect to
First Amendment, dated November 23, 1942, and Cumulative Amendment, dated June 17, 1943. Sections 315.2, 315.3, 315.20(b),
315.25, 315.26, 315.27, 315.29, 315.32, 315.35, 315.36, 315.37, 315.52 and 315.65, reproduced below, are in the form provided by
Cumulative Amendment. Section 315.10 is in the form provided by First Amendment and included without change in Cumulative
Amendment.
This explanatory note has been added and is not part of the original text.]
REGULATIONS GOVERNING UNITED STATES SAVINGS BONDS
Department Circular No. 530
Fifth Revision
T R E A S U R Y
Fiscal Service
Bureau of the Public Debt
SECRETARY,
TABLE OF CONTENTS
Subpart B—REGISTRATION.
Sec. 315.2 —General.
See. 315.3 •—Restrictions.
See. 315.4 —Authorized forms of registration, Series E.
Sec. 315.5 —Authorized forms of registration, Series F
and G.
Sec. 315.6 —Unauthorized registration.
See. 315.7 —Forms of registration on reissue.
Subpart C—LIMITATION ON TRANSFER.
Sec. 315.8 —Not transferable.
HOLDINGS.
may be held.
amount.
excess.
Subpart E—LOST, STOLEN, MUTILATED, DEFACED OR
DESTROYED BONDS.
See. 315.12—Relief in case of loss, etc.
Subpart F—SAFEKEEPING FACILITIES.
See. 315.13—Safekeeping of bonds.
Subpart G—INTEREST.
Sec. 315.14—General.
Sec. 315.15—Appreciation bonds.
Sec. 315.16—Current income bonds.
Subpart H—GENERAL PAYMENT AND REDEMPTION
PROVISIONS.
Sec. 315.17—Payment at maturity.
Sec. 315.18—Redemption before maturity.
Sec. 315.19—Form and execution of requests for payment.
Sec. 315.20—Certifying officers.
Sec. 315.21—General instructions to certifying officers.
Sec. 315.22—Interested persons not to certify.
See. 315.23—Presentation and surrender.
Sec. 315.24—Partial redemption.
Subpart I—MINORS AND PERSONS UNDER OTHER
LEGAL DISABILITY.
See. 315.25—Payment to legal guardians.
See. 315.26—Payment to minors.
Sec. 315.27—Payment to parents of minors.
See. 315.28—Payment to voluntary guardian of person
under disability.
Subpart J—SINGLE NAME—ADDITION OF COOWNER,
ETC.
See. 315.29—Reissue for certain purposes.
See. 315.30—Reissue upon request of a minor.
Sec. 315.31—Reissue only at Federal Reserve Banks and
Treasury.
Subpart K—TWO NAMES—COOWNERSHIP FORM.
Sec. 315.32—Payment or reissue.
See. 315.33—Place of reissue.
OF T H E
Washington, June 1, 1942.
Subpart A—APPLICABILITY.
See. 315.1 —Applicability of regulations.
Subpart D—LIMITATION ON
Sec. 315.9 —Amount which
Sec. 315.10—Calculation of
Sec. 315.11—Disposition of
D E P A R T M E N T ,
OFFICE
Subpart L—TWO NAMES—BENEFICIARY FORM.
Sec. 315.34—Payment to registered owner.
See. 315.35—Reissue during the lifetime of registered
owner.
See. 315.36—Payment or reissue to beneficiary.
See. 315.37—Payment or reissue after death of the surviving beneficiary.
Sec. 315.38—Conditions of reissue.
Subpart M—FIDUCIARIES.
Sec. 315.39—Payment to fiduciaries.
Sec. 315.40—Reissue in the name of a succeeding fiduciary.
See. 315.41—Reissue in the name of, or payment to, the
person entitled.
Sec. 315.42—Bonds held by trustee where reissue not
authorized.
Subpart N—PRIVATE CORPORATIONS, ASSOCIATIONS,
PARTNERSHIPS, ETC.
Sec. 315.43—Payment to corporations or unincorporated
associations.
Sec. 315.44—Payment to partnerships.
See. 315.45—Reissue or payment to successors of corporations, unincorporated associations, or partnerships.
Sec. 315.46—Reissue or payment on dissolution.
Subpart O—STATES, PUBLIC CORPORATIONS, AND PUBLIC BOARDS, COMMISSIONS, AND OFFICERS.
See. 315.47—In names of States, public corporations, and
public boards.
Sec. 315.48—In names of public officers.
Subpart P—DECEASED OWNERS.
Sec. 315.49—Payment or reissue on death of owner.
See. 315.50—Forms of registration on reissue.
Subpart Q—CREDITORS' RIGHTS AND JUDICIAL PROCEEDINGS.
Sec. 315.51—Creditors' rights.
Sec. 315.52—Determination of interest as between owner
and coowner or beneficiary.
Sec. 315.53—Evidence necessary.
Sec. 315.54—Bankruptcy and insolvency.
Subpart R—PLEDGE WITH SECRETARY OF TREASURY
OR FEDERAL RESERVE BANKS.
See. 315.55—Deposit under Department Circulars No. 154
and No. 657.
Subpart S—REISSUE AND DENOMINATIONAL EXCHANGE.
Sec. 315.56—General.
Sec. 315.57—Requests for reissue.
Sec. 315.58—Agencies authorized to make reissue.
See. 315.59—Date of bonds on reissue.
Sec. 315.60—Effective date.
Sec. 315.61—Denominational exchange.
Subpart T—FURTHER PROVISIONS.
See. 315.62—Regulations prescribed.
Sec. 315.63—Preservation of rights.
Sec. 315.64—Additional proof; bond of indemnity.
See. 315.65—Correspondence and forms.
See. 315.66—Supplements, amendments or revisions.
Page 21
To
OWNERS
OF U N I T E D
STATES
SAVINGS
BONDS, AND
OTHERS
CONCERNED:
Department Circular No. 530, Fourth Revision, Dated April 15, 1941 (6 F. R. 2191), as amended, is hereby further amended
and issued as a Fifth Revision to read as follows:
The following regulations governing United States Savings Bonds are published for the information and guidance of all
concerned:
Subpart A—APPLICABILITY
Sec. 315.1. Applicability of regulations.—These regulations apply generally to all United States Savings Bonds of all 6eries
of whatever designation and bearing any issue dates whatever except as otherwise specifically provided herein.
Subpart B—REGISTRATION
Sec. 315.2. General.—United States Savings Bonds will be issued only in registered form. The name and complete post office
address of the owner, as well as the name of the coowner or designated beneficiary, if any, and the date as of which the bond is issued
will be inscribed thereon at the time of issue by an authorized issuing agent.1 The form of registration used must express the
actual ownership of and interest in the bond and, except as otherwise specifically provided in these regulations, will be considered
as conclusive of such ownership and interest. The Treasury Department can recognize no notices of adverse claims to savings
bonds and will enter no stoppages or caveats against payment in accordance with the registration of the bonds. No designation of
an attorney, agent or other representative to request or receive payment on behalf of the owner, nor any restriction on the right
of such owner to receive payment of the bond, other than as provided in these regulations, may be made in the registration or
otherwise.
Sec. 315.3. Restrictions.—Only residents (whether individuals or others) of the United States (which for the purposes of
this section shall include the territories, insular possessions and Canal Zone), citizens of the United States temporarily residing
abroad, and nonresident aliens employed in the United States by the Federal Government or an agency thereof, may be named as
owners, coowners or designated beneficiaries on bonds originally issued on or after April 1, 1940, or on authorized reissues thereof:
Provided, however, That on original issues of bonds, but not on reissues, a nonresident alien (not a citizen of an enemy nation)
may be named as coowner or designated beneficiary, and Provided further, That a nonresident alien, whether owner, coowner or
beneficiary succeeding to title on the death of the owner, or succeeding to title upon the death of a surviving coowner or beneficiary,
will be entitled only to request and receive payment either at or before maturity.2
Sec. 315.4. Authorised forms of registration, Series E.—Bonds of Series E may be registered only in the names of individuals
(natural persons), whether adults or minors, in their own right in one of the following forms of registration:
(a) ONE PERSON: In the name of one person, for example:
' 1 John A. Jones.''
(&) Two P E R S O N S — C O O W N E R S H I P
owners, for example:
FORM:
In the names of two (but not more than two) persons in the alternative as co-
" J o h n A. Jones OR Mrs. Ella S. Jones."
No other form of registration establishing coownership is authorized.
( c ) Two P E R S O N S — B E N E F I C I A R Y FORM:: In the name of one (but not more than one) person, payable on death to one (but
not more than one) other person, for example:
" J o h n A. Jones, payable on death to Miss Mary E. Jones.*'
"Payable on death t o " may be abbreviated as " p . o. d . " The first person named is hereinafter referred to as the owner
or registered owner, and the second person named as the beneficiary or designated beneficiary. If it is desired that
a bond revert to the United States upon the death of the owner as a donation, it may be registered in the name of the
owner with the Treasurer of the United States named as beneficiary.
The full name of the owner and that of the coowner or beneficiary, if any, should be used and should be the name by which the
person is ordinarily known and under which he does business; if there are two given names the initial of one may be used, and
if a person is habitually known and does business by initial only of his given names, registration may be in such form. The name
may be preceded by any applicable title such as ' ' D r . " , " Rev.'', etc., and in the case of women should be preceded by *1 Mrs.'' or
" M i s s " . A married woman's own name should be used, not that of her husband, for example, " M r s . Mary A. Jones", not " M r s .
Frank B. Jones". A minor, whether or not under legal guardianship, may be named as owner or coowner if the bonds are purchased as a gift to him and a minor may name a coowner or beneficiary on bonds purchased by him from his wages, earnings or
other money in his possession; but bonds purchased by a parent or guardian with funds already belonging to a minor must be
registered in the minor's name alone without the addition of a coowner or beneficiary. If a person named in the registration of
the bond is under legal disability and a guardian or similar representative of his estate has been appointed by a court or is otherwise
legally qualified, the registration should indicate such facts by the addition of appropriate words, for example, " F r a n k Jones, a
minor under legal guardianship of Henry Smith". Bonds should not be registered in the name of a person under disability for
reasons other than minority unless a legal representative of his estate has been appointed.
See. 315.5. Authorised forms of registration, Series F and G.—Bonds of Series F or G may be registered in the names of individuals in their own right as set forth in Sec. 315.4 above, and subject to the same conditions as therein set forth. Bonds of
these two series may also be registered in the names of fiduciaries, corporations, associations or partnerships, except that they may
1 The date of maturity is also inscribed on Savings Bonds of Series A , Series B, and Series D.
2 Under the terms of Executive Order No. 8389, as amended, and the regulations issued thereunder, bonds may not be issued or paid to nationals
(as defined in said Order) of blocked countries or to nationals of enemy countries, whether or not residing in the United States, unless such nationals
are generally or specially licensed under the terms of the Order.
Page 22
not be registered in the names of commercial banks, that is, banks accepting demand deposits in the usual and general course
of business. The following forms are authorized for such registration:
(a) Executors, administrators, guardians, etc.—In the name of one or more executors, administrators, guardians, conservators or other representatives of a single estate appointed by a court of competent jurisdiction or otherwise legally
qualified, all of whose names must be included in the registration, followed by adequate identifying reference to the
estate, for example:
" J o h n Smith, executor of the will (or administrator of the estate) of Henry J. Smith, deceased", or "William
C. Jones, guardian (or conservator, etc.) of the estate of James D. Brown, a minor (or an incompetent)".
If a guardian or other legal representative holds a common fund for the account of two or more estates or wards,
bonds should be registered in the name of the representative for each such estate or ward separately, even though
the representative was appointed in a single proceeding. A father or mother, as such, or as natural guardian, is not
considered a fiduciary for purposes of registration.
(b)
Trustees.—In the name or names of one or more trustees or other fiduciaries of a single duly constituted trust estate,
which will be considered as an entity, followed by adequate identifying reference to the trust instrument or other
authority creating the trust, for example:
" J o h n C. Brown and the First National Bank, trustees under the will of Henry C. Brown, deceased", or " T h e
Second National Bank, trustee under an agreement with George E. White, dated February 1, 1935".
The names of all trustees must be given, unless they are too numerous, act as a board, or hold office for a limited period
of time. Registration may be in the title without the names of the trustees in the case of unincorporated lodges,
churches, societies or similar organizations, title to whose property is held by trustees, and in the case of public officers,
corporations or bodies acting as trustees under express authority of law, for example:
"Trustees of the First Baptist Church, Akron, Ohio, an unincorporated association", or "Treasurer of the
State of Nebraska, in trust for the policyholders of X Corporation, under Section
of Nebraska Statutes'
If the instrument or other authority creating the trust establishes a board of trustees acting as a board and not as
individuals, registration may be in the name of the board as such, for example:
" B o a r d of Trustees for the State Hospital for the Insane, under Section
of Nebraska Statutes".
Registration may not be made in the names of trustees under an agreement or other instrument purporting to create
a trust where the funds used represent merely security for the performance of an obligation, except under a statute
the terms of which expressly create an actual trust relationship.
(c) Pension or retirement funds, etc.—Registration may be made in the names and title, or title alone, of trustees of a pension
or retirement fund or of an investment, savings, insurance, annuity, or similar fund or trust, but in all such cases the
fund will be regarded as an entity regardless of the number of beneficiaries or the manner in which their respective
interests are established or determined. Segregation of individual shares as a matter of bookkeeping or as a result
of individual agreements with beneficiaries will not operate to constitute separate trusts under these regulations.
(d) Private corporations and associations.—In the name of any private organization, whether incorporated or unincorporated (except commercial banks as hereinbefore defined), using in each case the full legal name of the organization
without mention of any officer or member but making reference, if desired, to a particular bookkeeping account or fund
(not a trust), as follows:
(1) A private corporation, followed by the words " a corporation", for example: "Smith Manufacturing Company,
a corporation";
(2) An unincorporated association, lodge, church or society, or similar body, followed by the words " a n unincorporated association", for example: " T h e Lotus Club, an unincorporated association". The term " a n unincorporated association" should not be used to describe a trust fund, a partnership or a business conducted
under a trade name;
(3) A partnership, considered as an entity, followed by the words " a partnership", for example: "Smith and
Brown, a partnership".
(e) States and public corporations.—In the full legal name or title of the owner or custodian of public funds, other than
trust funds, as follows:
(1) Any sovereignty, as a State, or any public corporation, as a county, city, town or school district, for example: "State of Maine", or " T o w n of Rye, New Y o r k " .
(2) Any board, commission or other public body duly constituted by law, for example: "Maryland State Highway
Commission'
(3) Any public officer designated by title only, for example: "Treasurer, City of Chicago".
Registration may include reference to a particular bookkeeping account, if desired.
(/) Schools.—Registration is not authorized in the name of an unincorporated or public school, or class or activity thereof.
Bonds held for the benefit of such school, class or activity should be registered in the name of a school principal or
other school officer, as trustee, by title only, for example: "Principal, Western High School, in trust for Class of 1940
Library F u n d " ; a written agreement of trust will not be required in cases of small amounts.
Sec. 315.6. Unauthorized registration.—Savings bonds inscribed in a form not substantially in agreement with those authorized by this subpart will not be considered as validly issued and will be accepted only for a refund of the purchase price, except
in those cases in which reissue can be made under the provisions of these regulations.
Sec. 315.7. Forms of registration on reissue.—Bonds reissued under the provisions of these regulations may be reissued in
any form of registration permitted by the regulations in effect on the date of original issue.
Subpart C—LIMITATION ON TRANSFER
Sec. 315.8. Not transferable.—United States Savings Bonds are not transferable and are payable only to the owners named
thereon except in case of the disability or death of the owner or as otherwise specifically provided herein, but in any event only in
accordance with the provisions of these regulations. Accordingly, savings bonds may not be sold or hypothecated as collateral
for a loan and may not be used as security for the performance of an obligation except as expressly provided in these regulations.
Page 23
Subpart D—LIMITATION ON HOLDINGS
Sec. 315.9. Amount which may he held.—As provided by section 22 of the Second Liberty Bond Act, as added February 4,
1935 (U. S. C. 1940 Ed., title 31, section 757c), and by regulations prescribed by the Secretary of the Treasury pursuant to the
authority of that section, as amended by the Public Debt Act of 1941, 55 Stat. 7, the amounts of savings bonds of the several series
issued during any one calendar year that may be held by any one person at any one time are limited as follows:
(a) Series A, B, C, and D—$10,000 (maturity value) of each series.
(&) Series E—$5,000 (maturity value).
(c) Series F and G—$50,000 (issue price) for the calendar year 1941, and $100,000 (issue price) for each calendar year
thereafter, of either series or of the combined aggregate of both.
The term " p e r s o n " shall mean any legal entity, including but not limited to, an individual, a partnership, a corporation (publie or private), an unincorporated association or a trust estate.
Sec. 315.10. Calcidation of amount.—In computing the amount of savings bonds of any one series issued during any one
calendar year held by any one person at any one time for the purpose of determining whether the amount is in excess of the
authorized limit as set forth in the next preceding section, the following rules shall govern:
(a) The holdings of each person, as defined in the next preceding section, individually and in a fiduciary capacity, shall be computed separately.
(ft) In the case of bonds of Series A, B, C, D and E, the computation shall be based upon maturity values.
bonds of Series F and G, the computation shall be based upon issue prices.
In the case of
(c) There must be taken into account: (1) all bonds originally issued to and registered in the name of that person alone;
(2) all bonds originally issued to and registered in the name of that person as a coowner or reissued to add his name as
coowner under the provisions of Section 315.29 (a), or to designate him as coowner instead of as a beneficiary under
the provisions of Section 315.35 hereof: Provided, however, That with respect to bonds of Series E held in coownership form, the amount thereof may be applied to the holdings of either of the coowners, but will not be applied to both,
or the amount may be apportioned between them; and (3) all bonds acquired by him before March 1, 1941, upon the
death of another or the happening of any other event.
(d) There need not be taken into account: (1) bonds of which that person is merely the designated beneficiary; (2) those in
which his interest is only that of a beneficiary under a trust; or (3) those to which he is entitled as an heir or legatee
of the deceased registered owner, or by virtue of the termination of a trust or the happening of any other event unless
he became entitled to any such bonds in his own right before March 1, 1941.
(e) Nothing herein contained shall be construed to invalidate any holdings within or, except as provided in subsection (c)
above, to validate any holdings in excess of, the authorized limits, as computed under the regulations in force at the
time such holdings were acquired.
Sec. 315.11. Disposition of excess.—If any person at any time acquires savings bonds issued during any one calendar year in
excess of the prescribed amount the excess must be immediately surrendered for refund of the purchase price.
Subpart E—LOST, STOLEN, MUTILATED, DEFACED OR DESTROYED BONDS
Sec. 315.12. Belief in case of loss, etc.—Under the provisions of the Government Losses in Shipment Act, relief either by the
issue of a substitute bond or by payment may be given in case of the loss, theft, destruction, mutilation or defacement of a savings
bond. In any such case immediate notice of the facts, together with a complete description of the bond (including series, year of
issue, serial number and name and address of the registered owner) should be given to the Treasury Department, Division of
Loans and Currency, Merchandise Mart, Chicago, Illinois. The Department will thereupon furnish an appropriate form and full
instructions for presenting the evidence necessary to secure relief under the law and the regulations as contained in Department
Circular No. 300, as amended. If such bond is subsequently recovered immediate notice of such recovery should be given to the
Division of Loans and Currency (at the address above), in order that delay may be avoided upon a later presentation of the bond
for payment.
Subpart F—SAFEKEEPING FACILITIES
Sec. 315.13. Safekeeping of bonds.—Arrangements may be made for the safekeeping of a savings bond by the Treasury or
by a Federal Reserve Bank as fiscal agent of the United States. Application forms for safekeeping may be secured from postmasters, Federal Reserve Banks or the Treasury Department.
Subpart G—INTEREST
See. 315.14. General.—United States Savings Bonds are issued in two forms: (1) appreciation bonds, issued on a discount
basis and redeemable before maturity at increasing fixed redemption values; and (2) current income bonds, bearing interest
payable semiannually and redeemable before maturity at fixed redemption values less than the face amount of the bond. At
present Series G constitutes the only issue of current income savings bonds.
Sec. 315.15. Appreciation bonds.—No interest as such is paid on savings bonds issued on a discount basis. Such bonds increase
in redemption value at the end of the first year from issue date and at the end of each successive half-year period thereafter until
their maturity, when the full amount becomes payable. The increment in value represents interest and is payable only on redemption of the bonds, whether at or before maturity.
Sec. 315.16. Current income
bond and payable semiannually,
315.18 (c) of Subpart II hereof,
maturity; if bonds are redeemed
Page 24
bonds.—Each such bond bears interest at a specified rate computed on the face amount of the
beginning six months from issue date. Except for redemption at par as provided in Sec.
full advantage of interest at the rate specified may be secured only if the bonds are held to
before maturity at current redemption values the difference between the face or full maturity
"value and the current redemption value then payable in accordance with the table printed on the face of each bond, will represent an adjustment of interest for the rate appropriate for the shorter term, as set forth in the tables attached to the circular
announcing the issue of such bonds.
(а) Method of interest payments.—Interest due on current income bonds will be paid on each interest payment date by
check drawn to the order of the person or persons in whose name the bond is inscribed in the same form as their names
appear in the inscription on the bond, except that in the case of a bond registered in the form " A , " payable on death
to " B , " the check will be drawn to the order of A alone until the Treasury receives notice of A ' s death, from which
date the payment of interest will be suspended until such time as the bond is presented for payment or reissue. Interest
so withheld will be paid to the person entitled to payment of the bond, or in case of reissue to the person in whose name
the bond is reissued. Interest cheeks on bonds registered in the names of coowners will be mailed to the payee first
named at his address of record unless otherwise specifically directed.
( б ) Reissue during interest period.—If a current income bond is reissued for any reason between interest payment dates,
interest for the entire period will be paid, on the next interest payment date, by check drawn to the person in whose
name the bond is reissued. Ordinarily, if a bond is received for reissue less than a month prior to an interest payment
date, reissue cannot be effected until after such interest payment date.
( c ) Change of address.—Prompt notice should be given to the Treasury Department, Division of Loans and Currency, Merchandise Mart, Chicago, Illinois, of any change of address by the owner of current income bonds. The notice should
refer to all bonds for which it is desired that the address be changed and should describe each bond by date, serial
number, series (including year of issue) and inscription appearing on the face of the bond.
(d) Termination of interest.—In case of redemption prior to maturity of current income bonds interest will cease on the last
day of the interest period next preceding the date of redemption. In case of partial redemption interest on the amount
redeemed will cease on the last day of the interest period next preceding the date of partial redemption, and interest
due thereafter will be paid only on the lower amount remaining after partial redemption.
(e) Consolidation of checks.—Whenever possible a single check will be issued on each payment date for interest on all current income bonds of a single series due to any owner on that date.
(/) Endorsement of checks.—Interest checks must be endorsed in accordance with the requirements of the Treasurer of the
United States, by the payees, either personally or by an attorney in fact, or in case of the death of the payee, by his
executor or administrator. Forms for the appointment of such attorney may be obtained from the Treasurer of the
United States or from any Federal Reserve Bank.
Subpart H—GENERAL PAYMENT AND REDEMPTION PROVISIONS
Sec. 315.17. Payment at maturity.—Pursuant to its terms, a savings bond of any series will be paid at or after maturity at
its full face or maturity value, but only following presentation and surrender of the bond for that purpose with a request for payment properly signed and certified as herein provided.
See. 315.18. Redemption before maturity.—Pursuant to its terms, a savings bond may not be called for redemption by the
Secretary of the Treasury prior to maturity, but may be redeemed in whole or in part at the option of the owner, prior to maturity
under the terms and conditions set forth in the offering circular of each series and in accordance with the provisions of these
regulations, but only following presentation and surrender for that purpose with a request for payment duly signed and certified
as provided herein.
(а) Series A, B, C, D and E.—A bond of Series A, B, C, D or E will be redeemed in whole or in part at any time after 60
days from the issue date without advance notice, at the appropriate redemption value as shown on the face of the bond.
( б ) Series F and G.—A bond of Series F or G will be redeemed, in whole or in part, on one month's notice in writing, on the
first day of any month not less than six months from the issue date, at the appropriate redemption value as shown
on the face of the bond. The owner's option to redeem may be shown by a signed request for payment or by express
written notice, and payment will be made as of the first day of the first month following by at least one full month
the date of receipt of notice by the Treasury Department or a Federal Reserve Bank. For example, if the request or
notice is received on June 15, the effective redemption date will be August 1. If express notice is given, the bond must
be surrendered to the same agency to which the notice is given not less than fifteen days before the effective redemption date. (See Sec. 315.16 (d) for provisions as to interest in case current income bonds are redeemed prior to
maturity.)
(c) Series G—Redemption at par before maturity.—Subject to the provisions of the preceding subsection a bond of Series G
(but not of Series F ) will be redeemed at par before maturity, in whole or in part: (1) upon the death of the owner
or a coowner if a natural person; or (2) if held by a trustee or other fiduciary upon the termination of the trust, in
whole or in part, by reason of the death of any person. If the trust is terminated only in part, redemption at par will
be made to the extent of not more than the pro rata portion of the trust so terminated and only in amounts corresponding to authorized denominations. Proof of death must be furnished and notice of intention to redeem at par before
maturity must be received by the Treasury Department or a Federal Reserve Bank within four months after the date
of death. Payment will ordinarily be made on the first available date: Provided, however, That payment will be postponed until the next interest payment date, upon request of the persons presenting the bond.
See. 315.19. Form and execution of requests for payment.—Requests for payment of savings bonds, unless otherwise authorized in a particular case, must be executed on the form appearing on the back of the bond to be surrendered and unless otherwise
specifically requested payment will be made pursuant to a duly executed request on the earliest day consistent with these regulations.
(а) Date of request.—Ordinarily requests executed more than six months before the date of receipt of a bond by a Federal
Reserve Bank or the Treasury Department will not be accepted.
( б ) Identification and signature of owner.—The registered owner in whose name the bond is inscribed, or such other person
as may be entitled to payment under the provisions of these regulations, must appear before one of the officers authorized to certify requests for payment (see Sec. 315.20 hereof), establish his identity and in the presence of such officer
sign the request for payment in ink, adding in the space provided the address to which the check issued in payment is
to be mailed. A signature made by mark ( X ) must be witnessed by at least one person in addition to the certifying
officer and must be attested by endorsement in the blank space substantially as follows: "Witness to the above signature by mark", followed by the signature and address of the witness. If the name of the registered owner or other
Page 25
person entitled to payment, as it appears in the registration or in evidence on file at the Treasury Department, Division of Loans and Currency, has been changed by marriage or in any other legal manner, the signature to the request
for payment should show both names and the manner in which the change was made, for example, ' ' Miss Mary T. Jones,
now by marriage Mrs. Mary T. Smith", or " J u n g Smelt, now by court order John Smith". In case of a change of name
other than by marriage the request should be supported by satisfactory proof of such change, unless already on file.
No request signed in behalf of the owner or person entitled to payment by an agent or a person acting under a power
of attorney will be recognized by the Treasury Department except in those eases arising under Subpart E hereof.
(c) Certification of request.—After the request for payment has been signed by the owner the certifying officer should complete and sign the certificate appearing at the end of the form for request for payment, and the bond should then be
presented and surrendered as provided in Sec. 315.23 hereof.
Sec. 315.20. Certifying
officers.—The following officers are authorized to certify requests for payment:
(а) At United States post offices.—Any postmaster, acting postmaster or inspector in charge, or other post office official or
clerk heretofore or hereafter designated for the purpose. One or more of these officials will be found at every United
States post office, classified branch or station. A post office official or clerk other than a postmaster, acting postmaster
or inspector in charge, should certify in the name of the postmaster or acting postmaster, followed by his own signature and official title, for example, " J o h n Doe, postmaster, by Richard Roe, postal cashier". Signatures of these officers
should be authenticated by a legible imprint of the post office dating stamp.
( б ) Banks, trust companies and branches.—Any-officer of any incorporated bank or trust company or branch thereof, domestic
or foreign, including banks or trust companies incorporated in the United States or its organized territories, those doing
business in the organized territories or insular possessions of the United States and the Commonwealth of the Philippines
under Federal charter or organized under Federal law, Federal Reserve Banks, Federal Land Banks, and Federal Home
Loan Banks; any employee of any such bank or trust company expressly authorized by the corporation to sign on behalf
of, or for, any officer thereof, and who should sign over the title "Designated Employee"; and Federal Reserve Agents
and Assistant Federal Reserve Agents, located at the several Federal Reserve Banks. Certifications by any of these
officers or designated employees should be authenticated by either a legible impression of the corporate seal of the bank
or trust company or, in the case of banks or trust companies and their branches which are authorized and duly qualified
issuing agents for bonds of Series E, by a legible imprint of the issuing agent's dating stamp.
(c) Issuing agents not banks or trust companies.—Any officers of corporations not banks or trust companies, and of all other
organizations, which are duly qualified issuing agents for bonds of Series E. All certifications by such officers must
be authenticated by a legible imprint of the issuing agent's dating stamp.
(d) United States officials.—Judges, clerks and deputy clerks of United States courts, including United States courts for
the organized territories, insular possessions and the Canal Zone; United States Commissioners; United States attorneys; United States collectors of customs and their deputies; United States collectors of internal revenue and their
deputies; commissioned officers of the United States Army, Navy, Marine Corps and Coast Guard, but only for members of their respective services, members of their families and civilian employees at Posts or Bases or Stations (such
certifying officer should indicate his rank and state that the person signing the request is one of the class whose requests
he is authorized to certify); the officer in charge of any home, hospital or other facility of the Veterans' Administration, but only for patients and members of such facilities; certain officers of Federal penal institutions designated for
that purpose by the Secretary of the Treasury and certain officers of the United States Public Health Service Hospitals at Lexington, Kentucky, and at Fort Worth, Texas, and of United States Marine Hospitals at Fort Stanton, New
Mexico, and Carville, Louisiana, designated for that purpose by the Secretary of the Treasury (in each case, however,
only for inmates or employees of the institution involved).
(e) Officers authorized in particular localities.—Certain officers in the Treasury Department; the Governors and Treasurers
of Hawaii, Puerto Rico and Alaska; the Governor and Commissioner of Finance of the Virgin Islands; the Governors
and Administrative Naval and Marine officers of Guam and American Samoa; the Governor, paymaster or acting paymaster, and collector or acting collector of the Panama Canal; postmasters and acting postmasters in the Bureau of
Posts of the Canal Zone; the United States High Commissioner to the Commonwealth of the Philippines, his Executive Assistant, and the Chief Clerk in his office, the Treasurer of the Commonwealth and the city treasurers of
Manila and Baguio, and judges and clerks of courts of record of the Commonwealth whose signatures and official positions are certified by the Secretary of Justice.
(/) In foreign countries.—In a foreign country requests for payment may be signed in the presence of and be certified by
any United States diplomatic or consular representative, or manager or other officer of a foreign branch of a bank or
trust company incorporated in the United States, whose signature is attested by an impression of the corporate seal or
is certified to the Treasury Department. If such an officer is not available, requests for payment may be signed in
the presence of and be certified by a notary or other officer authorized to administer oaths, but his official character
and jurisdiction must be certified by a United States diplomatic or consular officer under seal of his office.
(flO Special provision.—In the event none of the officers authorized to certify requests for payment of savings bonds is readily
accessible, the Commissioner of the Public Debt is authorized to make special provision for any particular case.
Sec. 315.21. General instructions to certifying officers.—Certifying officers should require positive identification of the person
signing requests for payment and will be held fully responsible therefor. In all cases a certifying officer must affix to the certification his official signature, title, address and seal, or dating stamp, and the date of execution. Officers of Veterans Facilities,
Public Health Service Hospitals, Marine Hospitals, and Federal penal institutions, should use the seal of the particular institution or service, where such seal is available. If a certifying officer, other than a post office official, officer of a bank or trust
company, or officer of an issuing agent, does not possess an official seal, that fact should be made known and attested.
Sec. 315.22. Interested person not to certify.—No person authorized to certify requests for payment may certify a request
for payment of a bond of which he is the owner, or in which he has an interest, either in his own right or in any representative
capacity.
Sec. 315.23. Presentation and surrender.—After the request for payment has been duly signed by the owner and certified
as above provided, the bond should be presented and surrendered, if a bond of Series F or G to a Federal Reserve Bank or Branch
or to the Division of Loans and Currency, Merchandise Mart, Chicago, Illinois, or, if a bond of any other series, to a Federal
Reserve Bank or Branch or to the Treasurer of the United States, Washington, D. C. Usually payment will be expedited by sur26
DigitizedPage
for FRASER
render to a Federal Reserve Bank. In all cases presentation will be at the expense and risk of the owner, and, for his protection,
the bond should be forwarded by registered mail if not presented in person. Payment will be made by check drawn to the order
of the registered owner or other person entitled and mailed to him at the address given in his request for payment.
Sec. 315.24. Partial redemption.—A savings bond of any series in a denomination other than the lowest authorized for that
series may be redeemed in part at current redemption value, but only in amounts corresponding to authorized denominations, upon
presentation and surrender of the bond in accordance with this subpart. In any such ease, before the request for payment is
(maturity value), and
signed there should be added to the first sentence of the request the words " t o the extent of $
reissue of the r e m a i n d e r ' U p o n partial redemption of a savings bond the remainder will be reissued as of the original issue date
as provided in Subpart S hereof. For payment of interest on bonds of Series G in case of partial redemption see Subpart G hereof.
Subpart I—MINORS AND PERSONS UNDER OTHER LEGAL DISABILITY
Sec. 315.25. Payment to legal guardians.—If the form of registration of a savings bond indicates that the owner is a minor
or has been judicially declared to be incompetent to manage his estate and that a guardian or similar representative has been
appointed for the estate of such minor or incompetent by a court having jurisdiction or is otherwise legally qualified, payment will
be made only to such guardian or similar legal representative. In such case the request for payment appearing on the back of the
bond should be signed by the guardian or other legal representative as such, for example, " J o h n A. Jones, guardian (committee) of
the estate of Henry W. Smith, a minor (an incompetent).'' Unless the form of registration gives the name of the representative,
there must be submitted in support of the request a certificate or a certified copy of the letters of appointment from the court
making the appointment under the seal of the court, establishing that the appointment is in full force. Such certificate or certification (except in the case of corporate fiduciaries) should be dated not more than 6 months prior to the date of presentation of
the bond for payment. See Subpart M hereof for payment provisions applicable to bonds registered in the names of guardians
and similar fiduciaries. Where the form of registration does not indicate that the owner is a minor for whose estate a guardian
has been appointed, a notice that such guardian has been appointed will not be accepted by the Treasury for the purpose of preventing payment to the minor or his parent as provided in the two following sections.
Sec. 315.26. Payment to minors.—Unless the form of registration of a savings bond indicates that the owner is a minor for
whose estate a guardian or similar legal representative has been appointed or is otherwise duly qualified, payment will be made
direct to such minor, provided he is, at the time payment is requested, of sufficient competency and understanding to sign his name
to the request and to comprehend the nature of such act. In general the fact that the request for payment has been signed by a
minor and duly certified in accordance with Subpart H hereof will be accepted as sufficient proof of such competency and
understanding.
See. 315.27. Payment to parents of minors.—If the owner of a savings bond is a minor and the form of registration does not
indicate that a guardian or similar legal representative of the estate of such minor owner has been appointed or is otherwise
legally qualified, and if such minor owner is not of sufficient competency and understanding to execute the request for payment,
payment will be made to either parent of the minor with whom he resides, or if the minor does not reside with either parent, then
to the person who furnishes Ms chief support. The parent or such other person should sign the request for payment in his own
name, on behalf of the minor, in the form 1 ' Mrs. Mary Jones, on behalf of John C. Jones,'' and should sign a certificate, in substantially the following form, which may be typed on the back of the bond:
" I certify that I am the
whom he resides. He is
sign this request."
(relationship) of John 0. Jones and the person with
years of age and is not of sufficient competency and understanding to
If a person other than a parent signs the request on behalf of the minor he should also certify that the minor does not reside with
either parent and that he furnishes his chief support. The Treasury Department may in any particular ease require further
proof that the minor is not of sufficient competency and understanding to execute the request for payment and of the right of the
person executing the request to act on behalf of the minor.
Sec. 315.28. Payment to voluntary guardian of person under disability.—In any case where the adult owner of a bond has
been judicially declared incompetent or such incompetency, in the opinion of the Secretary of the Treasury, is otherwise established, and no duly qualified legal representative of his estate is acting, and the entire gross value of his personal estate does not
exceed $500, payment will be made to a member of his family or other person acting as voluntary guardian, upon presentation
of proof satisfactory to the Secretary of the Treasury that the proceeds of the bond are necessary for the purchase of necessaries
for the incompetent or for his wife or minor children or other persons dependent upon him for support. Applications for such
payment should be made only on appropriate forms, which may be obtained from the Treasury Department, Division of Loans
and Currency, Merchandise Mart, Chicago, Illinois, or any Federal Reserve Bank. The request for payment should not be
executed, nor the bond presented, until the application has been approved and instructions have been given by the Treasury
Department.
Subpart J—SINGLE NAME—ADDITION OF COOWNER, ETC.
Sec. 315.29. Reissue for certain purposes.—A savings bond of any series registered in the name of one person in his own
right, or to which one person is shown to be entitled in his own right under these regulations, may be reissued upon appropriate
request for the following purposes:
(a) Addition of coowner.—Reissue in the name of the owner with that of another natural person as coowner, provided that
bonds reissued in accordance with this subsection will be considered for the purposes of computation of holdings under
Subpart D of these regulations as originally issued in both names and no reissue will be effective which results in any
one person holding bonds in excess of the established limitation for the series to which the bonds belong. Requests for
reissue under this subsection should be made on Form PD 1762.
Page 27
(b) Addition of a beneficiary.—Reissue in the name of the owner with the name of another natural person as designated
beneficiary. Applications for reissue under the provisions of this subsection should be made on Form PD 1077.
(c) Reissue in living trust.—Reissue in the name of a trustee of a living trust created by the registered owner for his benefit
in whole or in part, during his lifetime whether or not containing an absolute power of revocation in the grantor; but
such reissue will be allowed only in the case of bonds of those series which may be originally issued in the name of a
trustee.
See. 315.30. Reissue wpon request of a minor.—Reissues under the provisions of this Subpart will be made upon request of
owners, notwithstanding the fact that they are minors, provided they are of sufficient competency and understanding, and are under
no legal disability other than minority.
Sec. 315.31. Reissue only at Federal Reserve Banks and Treasury.—Reissues in accordance with the provisions of this Subpart may be made only at Federal Reserve Banks or at the Treasury Department. A coowner may be added only by reissue of the
bond. Federal Reserve Banks, however, may, in appropriate cases, add the name of a beneficiary to bonds already outstanding
without reissue, providing such addition is properly certified by the Federal Reserve Bank.
Subpart K—TWO NAMES—COOWNERSHIP FORM
See. 315.32. Payment or reissue.—A savings bond registered in the names of two persons as eoowners in the form " J o h n A.
Jones OR Mrs. Mary C. Jones," will be paid or reissued as follows:
(a) During the lives of both eoowners.—During the lives of both eoowners the bond will be paid to either coowner upon his
separate request without requiring the signature of the other coowner; and upon payment to either coowner the other
person shall cease to have any interest in the bond. The bond will also be paid to both eoowners upon their joint request,
in which case payment will be made by check drawn to the order of both eoowners in the form, for example, ' ' John A.
Jones and Mrs. Mary C. Jones,'' and the check must be endorsed by both payees. The bond will not be reissued in any
form during the lives of both eoowners except as specifically provided in these regulations.
(b) After the death of one coowner.—If either coowner dies without having presented and surrendered the bond for payment
to a Federal Reserve Bank or the Treasury Department, the surviving coowner will be recognized as the sole and absolute owner of the bond, and payment will be made only to him: Provided, however, That if a coowner dies after he has
properly executed the request for payment and after the bond has actually been received by a Federal Reserve Bank
or the Treasury Department, payment of the bond, or check if one has been issued, will be made to his estate (see Subpart P hereof). Upon proof of the death of one coowner and appropriate request by the surviving coowner (unless a
nonresident alien, in which case see Section 315.3) the bond will be reissued in the name of such survivor alone, or in
his name with another individual as coowner, or in his name payable on death to a designated beneficiary.
(c) On death of both eoowners in common disaster.—If both eoowners die in a common disaster under such conditions that it
cannot be established, either by presumption of law or otherwise, which coowner died first, the bond will be considered
as belonging to the estates of both eoowners.
(d) After the death of a surviving coowner.—If a surviving coowner who became solely entitled to the bond under the provisions of subsection (b) of this section dies without having submitted the bond for payment or reissue, the bond will be
paid or reissued as though it were registered in the name of such last deceased coowner alone. In this case proof of the
death of both eoowners and of the order in which they died will be required.
Sec. 315.33. Place of reissue.—Reissues authorized in this Subpart will be made in accordance with the provisions of Subpart S hereof, but only at a Federal Reserve Bank or the Treasury Department, and applications for such reissues should be
made on forms provided for that purpose.
Subpart L—TWO NAMES—BENEFICIARY FORM
Sec. 315.34. Payment to registered owner.—A bond registered in the name of one person payable on death to another, for
example, " H e n r y W. Ash, payable on death to John C. B l a c k " , will be paid to the registered owner during his lifetime upon his
properly executed request as though no beneficiary had been named in the registration.
Sec. 315.35. Reissue during the lifetime of a registered owner.—A bond registered in the name of one person payable on death
to another may be reissued, on the duly certified request of the registered owner, to name a beneficiary designated on the bond as
coowner subject to the same restrictions and conditions contained in Section 315.29 (a). A bond may also be reissued upon the
duly certified request of the registered owner, together with the duly certified consent of the designated beneficiary, to eliminate
such beneficiary or to substitute another person as beneficiary, or to name another person as coowner. If the beneficiary should
predecease the registered owner, upon proof of such death and upon request of the registered owner the bond many be reissued in his
name alone or in his name with another individual as coowner, or in his name payable on death to a designated beneficiary.
Requests should preferably be made upon the forms provided for such purpose.
Sec. 315.36. Payment or reissue to beneficiary.—If the registered owner dies without having presented and surrendered the
bond for payment or authorized reissue to a Federal Reserve Bank or the Treasury Department, and is survived by the beneficiary,
upon proof of such death and survivorship, the beneficiary will be recognized as the sole and absolute owner of the bond, and it will
be paid only to him at or before maturity, or (unless such beneficiary be a nonresident alien, in which case see Section 315.3) may
be reissued in his name alone, or otherwise reissued in accordance with Subpart J as though it were registered in his name alone:
Provided, however, That if the bond with a properly executed request by the registered owner for payment or authorized reissue has
actually been received by a Federal Reserve Bank or the Treasury Department, payment of the bond, or check, if one has been
issued, will be made to the estate of the deceased owner in accordance with Section 315.49.
Sec. 315.37. Payment or reissue after death of the surviving beneficiary.—After the death of a surviving beneficiary who
became entitled under the provisions of this Subpart, the bond will be paid or (except in the case of a nonresident alien) reissued
in accordance with Subpart J as though it were registered in the name of the surviving beneficiary alone. In this case proof of
the death of both the registered owner and the beneficiary and of the order in which they died will be required.
Page 28
Sec. 315.38. Conditions of reissue.—Reissue under this Subpart will be made in accordance with Subpart S hereof, but only
at a Federal Reserve Bank or the Treasury Department and applications for such reissue should be made on forms provided for
that purpose.
Subpart M—FIDUCIARIES
Sec. 315.39. Payment to fiduciaries.—A savings bond registered in the name of, or otherwise belonging to, a fiduciary estate,
will be paid to the fiduciaries of such estate upon their request. The request for payment must be signed by all acting fiduciaries,
except for payment at maturity, when a request by any one or more acting fiduciaries will be accepted, but payment will be made
to all. If the bond is registered in the names of individual fiduciaries of the estate who are still acting, no further evidence of
authority will be required. In other cases the request for payment must be supported by evidence as specified below:
(а) Fiduciaries—By title only.—If the bond is registered in the titles without the names of the fiduciaries, satisfactory proof
of the incumbency of the fiduciaries must be furnished, except in the case of publie officers.
( б ) Succeeding fiduciaries.—If the fiduciaries in whose names the bonds were registered have been succeeded by other fiduciaries, satisfactory proof of successorship must be furnished.
( c ) Boards, committees, etc., as fiduciaries.—If the fiduciaries consist of a board, committee, commission, or public body, or
are otherwise empowered to act as a unit, a request for payment before maturity must be supported by a duly certified
copy of a resolution of the board or other body authorizing such action, except that in the case of a public board or
commission a request signed in its name by a duly authorized officer thereof will ordinarily be accepted without further
proof of the officer's authority. In any case the request must be signed in the name of the board or other body by an
authorized officer or agent thereof.
(d) Corporate fiduciaries.—If a publie or private corporation or a political body, such as a State or county, is acting as a
fiduciary, a request for payment must be signed in the name of the corporation or other body, in the fiduciary capacity
in which it is acting, by an authorized officer thereof.
(e) Registration not disclosing trust.—If the form in which the bond is registered does not show that it belongs to a fiduciary estate or does not identify the estate to which it belongs, satisfactory proof of ownership must be furnished.
Sec. 315.40. Reissue in the name of a succeeding fiduciary.—If a person in whose name a savings bond is registered as a fiduciary has been succeeded as such fiduciary by another person, the bond will be reissued in the name of the succeeding fiduciary
upon appropriate request and satisfactory proof of successorship.
Sec. 315.41. Reissue in the name of, or payment to, the person entitled.—
(a) Distribution of trust estate in Tcind.—A savings bond to which a beneficiary of a trust has become lawfully entitled, in
whole or in part, under the terms of the trust, will be reissued in his name to the extent of his interest, as a distribution in kind, upon the request of the trustee or trustees and their certification that such person is entitled and has
agreed to reissue in his name: Provided, That if a trustee himself is so entitled in his own right, his request for reissue
in his name must be supported by an order of court or other satisfactory proof that he is so entitled, unless a cofiduciary joins in the request: Provided further, That if the form in which the bond is registered does not show that it
belongs to a trust estate, the request for reissue must be supported by satisfactory proof of ownership.
(&) After termination of trust estate.—If the person who would be lawfully entitled to a savings bond upon the termination
of a trust does not desire to have such distribution to him in kind, as provided in the next preceding subsection, the
trustee or trustees should redeem the bond in accordance with the provisions of Sec. 315.39 hereof before the estate
is terminated. If, however, the estate is terminated without such payment or reissue having been made, the bond will
thereafter be paid to or reissued in the name of the person lawfully entitled upon his request and satisfactory proof of
ownership, supplemented, if there are two or more persons having any apparent interest in the bond, by an agreement
executed by all such persons.
(c) Upon termination of guardianship estate.—A savings bond registered in the name of a guardian or similar legal representative of the estate of a minor or incompetent, if the estate is terminated during the ward's lifetime, will be reissued
in the name of the former ward upon the representative's request and certification that the former ward is entitled and
has agreed to reissue in his name, or will be paid to or reissued in the name of the former ward upon his own request,
supported in either case by satisfactory proof that his disability has been removed. Certification by the representative that a former minor has attained his majority, or that the legal disability of a female ward has been removed by
marriage, if the State law so provides, will ordinarily be accepted as sufficient, but if the disability is removed by court
order a duly certified copy of the order will be necessary. Upon the death of the ward a bond registered in the name
of his guardian or similar representative will be reissued in accordance with the provisions of Subpart P as though it
were registered in the name of the ward alone.
Sec. 315.42. Bonds held by trustee where reissue not authorized.—Savings bonds which by their terms or under the regulations in force at the time of their issue may not be registered in the name of a fiduciary may be held without change of registration
by a trustee or other fiduciary under the will of a deceased owner of the bonds, but will not be reissued in the name of the fiduciary. Upon proof of the appointment and authority of the fiduciary bonds so held will be paid to the fiduciary, or upon termination
of the trust will be reissued in the names of the persons entitled in their own right in accordance with the provisions of this
Subpart.
Subpart N—PRIVATE CORPORATIONS, ASSOCIATIONS, PARTNERSHIPS, ETC.
Sec. 315.43. Payment to corporations or unincorporated associations.—A savings bond registered in the name of a private
corporation or an unincorporated association will be paid to such corporation or unincorporated association upon request for payment on its behalf by a duly authorized officer thereof. The signature to the request should be in the form, for example, " T h e
Jones Coal Company, a corporation, by William A. Smith, president", or " The Lotus Club, an unincorporated association, by John
Jones, treasurer". A request for payment so signed and duly certified will ordinarily be accepted without further proof of the
officer's authority.
Sec. 315.44. Payment to partnerships.—A savings bond registered in the name of a partnership will be paid upon a request
for payment signed by a general partner. The signature to the request should be in the form ( ' Smith and Jones, a partnership, by
Page 29
John Jones, a general partner". A request for payment 60 signed and duly certified will ordinarily be accepted as sufficient proof
that the person signing the request is duly authorized.
Sec. 315.45. Reissue or payment to successors of corporations, unincorporated associations or partnerships.—A savings bond
registered in the name of a private corporation, an unincorporated association or partnership, which has been succeeded by another corporation, unincorporated association or partnership as the result of merger, consolidation, reincorporation, conversion,
reorganization, or otherwise by operation of law or in any manner whereby the ownership of the succeeding organization is substantially identical with that of its predecessor, will be paid to, or reissued in the name of, the succeeding corporation, unincorporated association or partnership upon appropriate request on its behalf supported by satisfactory proof of lawful successorship.
Sec. 315.46. Reissue or payment on dissolution.—
(a) Corporations.—A savings bond registered in the name of a private corporation which is in process of dissolution will be
paid to the authorized representative of the corporation upon a duly executed request for payment supported by satisfactory evidence of the representative's authority. Upon the termination of dissolution proceedings such bonds may
be reissued in the names of those persons, other than the creditors, entitled to the assets of the corporation to the
extent of their respective interests upon the duly executed request of the authorized representative of the corporation
and upon proof of compliance with all statutory provisions governing the voluntary dissolution of such corporation,
and that the persons in whose names reissue is requested are entitled and have agreed to such reissue: Provided, That
if the dissolution proceedings are had under the direction of a court, proof of the authority of the representative and
of the persons entitled to distribution must consist of certified copies of orders of the court.
(b) Partnerships.—A savings bond registered in the name of a partnership which has been dissolved by death or withdrawal
of a partner, or in any other manner, will be paid to or reissued in the names of the persons entitled thereto as the
result of such dissolution to the extent of their respective interests, upon their request supported by satisfactory evidence of their title, including proof that the debts of the partnership have been paid or properly provided for.
Subpart 0—STATES, PUBLIC CORPORATIONS, AND PUBLIC BOARDS, COMMISSIONS AND OFFICERS
Sec. 315.47. In names of States, public corporations and public boards.—A savings bond registered in the name of a State
or of a county, city, town, village or other public corporation, or in the name of a public board or commission, will be paid upon a
request signed in the name of such State, corporation, board or commission by a duly authorized officer thereof. A request for
payment so signed and duly certified will ordinarily be accepted without further proof of the officer's authority.
Sec. 315.48. In names of public officers.—A savings bond registered in the title, without the name, of an officer of a State or
public corporation, such as a county, city, town or village, will be paid upon request for payment signed by the designated officer.
The fact that the request for payment is signed and duly certified will ordinarily be accepted as sufficient proof that the person
signing is the incumbent of the designated office.
Subpart P—DECEASED OWNERS
Sec. 315.49. Payment or reissue on death of owner.—Upon the death of the owner of a savings bond, who was not survived by
a coowner or designated beneficiary and who had not during his lifetime presented and surrendered the bond to a Federal Reserve
Bank or the Treasury Department with a duly executed and proper request for an authorized reissue, the bond will be paid or
reissued as hereinafter provided. The provisions of this section shall also apply to savings bonds registered in the names of
executors or administrators except that proof of their appointment and qualification may not be required. Established forms
for use in such eases and for requests for payment or reissue may be obtained from any Federal Reserve Bank or from the Treasury Department, Division of Loans and Currency, Merchandise Mart, Chicago, Illinois, and should be used in every instance.
(a) In course of administration.—If the estate of the decedent is being administered in a court of competent jurisdiction,
the bond will be paid to the duly qualified representative of the estate or will be reissued in the names of the persons
entitled to share in the estate upon the request of the duly appointed and qualified representative of the estate, who
should certify that the persons named are entitled to the extent specified for each and have consented to such reissue.
The request for payment or reissue should be signed in the form, for example, " J o h n A. Jones, administrator of the
estate (or executor of the will) of Henry W. Jones, deceased". Reissue will be made to the persons entitled in their
names alone, or with a coowner (provided no excess holdings will be created) or beneficiary upon appropriate request
by such persons. A request for payment or reissue must be supported by proof of the representative's authority. Such
proof may consist of a court certificate or a certified copy of the representative's letters of appointment issued by the
court having jurisdiction; the certificate, or the certification to the letters, must be under the seal of the court, must
contain a statement that the appointment is in full force, and should be dated within six months of the date of presentation of the bond for payment or reissue. If the representative is himself the person entitled and desires Teissue in
his own name, the request for reissue must be supported by an order of court, unless a coadministrator or coexecutor
joins in the request.
(&) After settlement through court proceedings.—If the estate of the decedent has been settled in a court of competent jurisdiction, the bond will be paid to, or reissued in the name of, the persons entitled thereto as determined by the court:
Provided, That if there are two or more persons having an apparent interest in the bond, an agreement should be executed by them. The request for payment or Teissue, and the agreement, if necessary, must be supported by duly certified copies of the pertinent court records.
(c)
V
Without administration.—If no legal representative of the decedent's estate has been or is to be appointed, and if it is
established to the satisfaction of the Secretary of the Treasury either that the gross value of the personal estate does
not exceed $500, or that administration of the estate is not required in the State of the decedent's last domicile, the bond
will be paid to, or reissued in the name of, the persons entitled to share in the estate, without requiring administration,
pursuant to an agreement and request by them on the form prescribed by the Treasury Department and supported by
the evidence called for by that form: Provided, however, That reissue will not be made in the name of a creditor of
the estate. No payment or reissue will be permitted without administration if any of the persons entitled are minors
or incompetents, except to them or in their names, in whole or to the extent of their interests in the decedent's entire
Page 30
personal estate, or upon compliance with the provisions of Subpart I hereof governing payment of savings bonds registered in the names of such persons.
Sec. 315.50 Forms of registration on reissue.—In no case will bonds be reissued hereunder except in a form authorized upon
original issue by the regulations in force at the time bonds surrendered were issued.
Subpart Q—CREDITORS' RIGHTS AND JUDICIAL PROCEEDINGS
Sec. 315.51. Creditors' rights.—A creditor of the owner of a savings bond may secure payment thereof to the extent of the
owner's interest, or to the extent of the creditor's claim, whichever is smaller, through valid judicial proceedings: Provided, however, That no such proceedings will be recognized if they would give effect to an attempted voluntary transfer inter vivos of the
bond or would defeat or impair the rights of survivorship conferred by these regulations upon coowners and beneficiaries. Payment, or partial payment in an amount not in excess of that to which the creditor is entitled, will be made upon presentation and
surrender of the bond with the request for payment duly executed, at the redemption value current 30 days after the proceedings
have become final, or current at the time the bond is presented for payment, whichever is earlier. No reissue of the bond will be
made to the creditor under the provisions of this section.
Sec. 315.52. Determination of interest as between owner and coowner or beneficiary.—Conflicting claims as to ownership of
or interest in a savings bond, as between the registered owner and the coowner or the registered owner and a designated beneficiary
may be determined by valid judicial proceedings, in which case the bond upon surrender by the party requesting reissue may be
reissued in the names of the respective parties to the extent of their respective interests as determined by such proceedings, but
only in authorized denominations. The Treasury can accept no notices of pending judicial proceedings and cannot undertake to
protect the interests of litigants who do not have possession of the bonds.
Sec. 315.53. Evidence necessary.—To establish the validity of judicial proceedings there must be submitted a certified copy
of the judgment or decree of court and of any necessary supplementary proceedings, as well as a certificate from the clerk of the
court under the court seal, showing that the judgment or decree is in full force and effect and has become final under the laws of
the jurisdiction. The Secretary of the Treasury may in any case require such further information, documents and security as
he may deem necessary.
Sec. 315.54. Bankruptcy and insolvency.—Payment (but not reissue) of a savings bond will be made to a duly qualified trustee
in bankruptcy or receiver of the estate of the registered owner, adjudicated bankrupt or insolvent, upon request for payment duly
executed by such trustee or receiver and supported by satisfactory proof of his appointment and qualifications.
Subpart R—PLEDGE WITH SECRETARY OF TREASURY OR FEDERAL RESERVE BANKS
See. 315.55. Deposit under Department Circulars No. 154 and No. 657.—Notwithstanding any other provisions of this or any
other circular, a savings bond may be pledged by the registered owner in lieu of surety under the provisions of Department Circular No. 154, amended: Provided, That the bond approving officer is the Secretary of the Treasury. In such cases an irrevocable power of attorney shall be executed authorizing the Secretary to request payment, and payment of the bond will, if it becomes
necessary, be made upon such request at the then appropriate redemption value. No pledge to a bond approving officer other
than the Secretary of the Treasury will be permitted. A savings bond may also be deposited as security with a Federal Reserve
Bank under the provisions of Department Circular No. 657 by an institution certified under that circular as an issuing agent for
savings bonds of Series E. In no other cases are savings bonds suitable for use as collateral, nor will a power of attorney to
request payment be recognized in any other case.
Subpart S—REISSUE AND DENOMINATIONAL EXCHANGE
Sec. 315.56. General.—Reissue of savings bonds in different names or in a different form of registration will be made only
in the following instances and only in denominations and forms of registration authorized for the bonds surrendered:
(а) To correct an error in the original issue, upon request of the owner or coowner, supported by satisfactory proof of such
error unless the error was made by the issuing agent;
( б ) To show a change in the name of an owner, coowner, or
the change if for any other reason than marriage;
beneficiary upon his request, supported by satisfactory proof of
(c) As otherwise specifically provided in these regulations.
Sec. 315.57. Requests for reissue.—Requests for reissue should be signed by the person authorized under these regulations to
make such requests, on appropriate forms which may be obtained from any Federal Reserve Bank or from the Treasury Department, Division of Loans and Currency. If the request is by reason of a change of name the signature should show both names,
and the manner in which the change took place. A request for reissue must be signed in the presence of and be certified by an
officer authorized under Subpart H hereof to certify requests for payment. A request may not be signed by a person under any
legal disability other than minority. It may be signed by a minor who is of sufficient competency and understanding to sign his
name to the request and to comprehend the nature of such act. In general the fact that a request for reissue has been signed by
a minor and duly certified will be accepted as sufficient proof of such competency and understanding.
Sec. 315.58. Agencies authorized to make reissue.—Reissues under (6) and (c) hereof may be made only at a Federal Reserve
Bank or the Treasury Department.
Sec. 315.59. Date of bonds on reissue.—The new bonds will be of the same series, will bear the same issue date, and will
have the same rights and privileges as the bonds surrendered.
Page 31
Sec. 315.60. Effective date.—In any case of authorized reissue the Treasury Department reserves the right to treat the receipt by a Federal Reserve Bank or the Treasury Department of a bond and appropriate request for reissue thereof as determining the date upon which reissue is effective.
Sec. 315.61. Denominational exchange.—Exchange
of partial redemption or authorized reissue.
as between authorized denominations will not be permitted except in cases
Subpart T—FURTHER PROVISIONS
See. 315.62. Regulations prescribed.—These regulations are prescribed by the Secretary of the Treasury as governing United
States Savings Bonds issued under the authority of Section 22 of the Second Liberty Bond Act, as amended, and pursuant to the
various Department Circulars offering such bonds for sale. The provisions of Treasury Department Circular No. 300, as amended,
have no application to such savings bonds except as to cases arising under Subpart E hereof.
Sec. 315.63. Preservation of rights.—Nothing in these regulations contained shall be construed to limit or restrict any existing rights which holders of savings bonds heretofore issued may have acquired under the circulars offering such bonds for sale,
or under the regulations in force at the time of purchase.
Sec. 315.64. Additional proof; bond of
tions, may require such additional proof as
indemnity with satisfactory sureties, or an
necessary for the protection of the interests
indemnity.—The Secretary of the Treasury, in any case arising under these regulahe may consider necessary or advisable in the premises; and may require a bond of
agreement of indemnity, in any case where he may consider such a bond or agreement
of the United States.
Sec. 315.65. Correspondence, certificates, notices and forms.—Correspondence in regard to any transactions in United States
Savings Bonds under the provisions of these regulations, certificates of court and other certificates, as well as notices of intention
to redeem, and the like (which must be in writing), should be addressed to a Federal Reserve Bank or to the Treasury Department, Bureau of the Public Debt, Merchandise Mart, Chicago, Illinois. Notices or documents on file with other bureaus of the
Department will not be recognized. Appropriate forms for use in connection with transactions may be procured from any Federal Reserve Bank or from the Division of Loans and Currency.
Sec. 315.66. Supplements, amendments or revisions.—The Secretary of the Treasury may at any time, or from time to time,
prescribe additional, supplemental, amendatory or revised rules and regulations governing United States Savings Bonds.
Page 32
HENRY MORGENTHAU, JR.,
Secretary of the Treasury.
[The form of Treasury Department Circular No. 696, dated September 12, 1942, reproduced below, gives effect to First
Amendment dated June 22, 1943, which changed the designation of the notes from Treasury Notes of Tax Series C to
Treasury Savings Notes, Series C, and to Second Amendment dated July 27, 1943, which eliminated the requirement that
oioners desiring to redeem the notes for cash prior to maturity give thirty days' advance notice of intention to redeem.
This explanatory note and the footnotes in italics have been added and are not parts of the original text.]
UNITED STATES OF AMERICA
TREASURY SAVINGS NOTES
Series C
Issued at Par
Due 3 Years from Issue Date
Redeemable Before Maturity at Option of Owners
Acceptable at Par and Accrued Interest in Payment of Federal Income, Estate, and Gift Taxes
1942
Department Circular No. 696
T R E A S U R Y
DEPARTMENT,
O F F I C E OF T H E
Fiscal Service
Bureau of the Public Debt
SECRETARY,
Washington, September 12, 1942.
I.
OFFERING OF NOTES
1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as
amended, offers for sale, to the people of the United States, at par, an issue of notes of the United States,
designated Treasury Savings Notes, Series C,* which notes, as hereinafter provided, will be receivable, at par
and accrued interest, in payment of Federal income, estate, and gift taxes.
2. The notes will be placed on sale September 14, 1942, and the sale will continue until terminated by
the Secretary of the Treasury.
3. The sale of Treasury Notes of Tax Series B-1944, pursuant to Treasury Department Circular No.
674, dated December 15, 1941, will terminate at the close of business on September 12, 1942.
4. Any holder of Treasury notes, Tax Series B-1944, purchased and bearing a date of issue in September 1942, may surrender such notes on or before September 30, 1942, to the agency which issued the
notes and receive in exchange therefor Treasury notes, Tax Series C-1945, of like face amount inscribed in
the same name and issued as of the first day of September, 1942, together with a refund of the accrued interest
included in the price paid for the surrendered notes: Provided, that where less than $1,000 of such Series
B-1944 notes are so held, they may be surrendered with the cash difference to be exchanged for a $1,000
Series C-1945 note.
II.
DESCRIPTION OF NOTES
1. General.—The notes of Series C* will, in each instance, be dated as of the first day of the month
in which payment, at par, is received and credited by an agent authoried to issue the notes. They will
mature 3 years from such date, and may not be called by the Secretary of the Treasury for redemption
before maturity. All notes issued during any one calendar year shall constitute a separate series indicated
by the letter " C " followed by the year of maturity. Subject to the provisions of Section IV of this circular, the notes will be receivable, at par and accrued interest, in payment of Federal income, estate, and
gift taxes. If not presented in payment of taxes, the notes will be payable at maturity, or, at the owner's
option and request, they will be redeemable before maturity, subject to the provisions of Section V of this
circular.
(* As amended by First Amendment,
dated June 22, 1943.)
Page 33
2. At the time of issue, the authorized issuing agent will inscribe on the face of each note the name
and address of the owner, will enter the date as of which the note is issued, and will imprint his dating
stamp (with current date). The notes will be issued in denominations of $1,000, $5,000, $10,000, $100,000, $500,000 and $1,000,000. Exchanges of authorized denominations from higher to lower, but not from
lower to higher may be arranged at the office of the agent that issued the note.
3. The notes may not be transferred in ordinary course; they may be pledged as collateral for loans
from banking institutions, but no other hypothecation will be recognized by the Treasury Department:
Provided, if held by a corporation owning more than 50 percent of the stock, with voting power, of another
corporation, the notes may be transferred to the subsidiary, upon request of the corporation and surrender of the notes to the agent that issued them; and Provided further, if notes pledged as collateral for
a loan are acquired because of the failure of a loan to be paid, the notes will be redeemed at par and
accrued interest to the month in which acquired on surrender of the notes to the agent that issued them,
accompanied by proof of the date of acquisition and by request of the pledgee under power of attorney
given by the pledgor in whose name the notes are inscribed, and in any such cases the limitations on
redemption before maturity provided in paragraph 1(a) of Section V of this circular shall not apply; the
notes will not be transferred to the pledgee. The notes will not be acceptable to secure deposits of public
money.
4. Interest.—Interest on each $1,000 principal amount of notes of Series C* will accrue each month
from the month of issue, on a graduated scale, as follows:
First to Sixth months, inclusive
Seventh to Twelfth months, inclusive
Thirteenth to Eighteenth months, inclusive
Nineteenth to Twenty-Fourth months, inclusive
Twenty-Fifth to Thirty-Sixth months, inclusive
$0.50
80
90
1.00
1.10
each
each
each
each
each
month.
month.
month.
month.
month.
5. The table appended to this circular shows for notes of each denomination, for each consecutive calendar month from month of issue to month of maturity, (a) the amount of interest accrual, (b) the principal amount of the note with accrued interest (cumulative) added, and (c) the approximate investment
yields. In no case shall interest accrue beyond the month in which the note is presented in payment of
taxes, or for redemption before maturity as provided in Section V of this circular, or beyond its maturity.
Interest will be paid only with the principal amount.
6. Taxation.—Income derived from the notes shall be subject to all Federal taxes, now or hereafter
imposed. The notes 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.
III.
PURCHASE
OF
NOTES
1. Applications and payment.—Applications will be received by the Federal Reserve Banks and Branches,
and by the Treasurer of the United States, Washington, D. C. Banking institutions and security dealers
generally may submit applications for account of customers, but only the Federal Reserve Banks and the
Treasury Department are authorized to act as official agencies. Every application must be accompanied
by payment in full, at par. Any form of exchange, including personal checks, will be accepted subject to
collection, and should be drawn to the order of the Federal Reserve Bank or of the Treasurer of the United
States, as payee, as the case may be. The date funds are made available on collection of exchange will
govern the issue date of the notes. Any depositary, qualified pursuant to the provisions of Treasury
Department Circular No. 92 (revised February 23, 1932, as supplemented) will be permitted to make payment by credit for notes applied for on behalf of itself or its customers up to any amount for which it shall
be qualified in excess of existing deposits.
2. Reservations.—The Secretary of the Treasury reserves the right to reject any application in whole
or in part, and to refuse to issue or permit to be issued hereunder any notes in any case or in any class or
classes of cases if he deems such action to be in the public interest, and his action in any such respect shall be
(* As amended by First Amendment, dated June 22, 1943.)
Page
34
final. If an application is rejected, in whole or in part, any payment received therefor will be refunded. The
Secretary of the Treasury, in his discretion, may designate agencies other than those herein provided for
the sale of, or for the handling of applications for, Treasury notes to be issued hereunder.
3. Delivery of notes.—Upon acceptance of full-paid applications, notes will be duly issued and, unless
delivered in person, will be delivered within the Continental United States, the Territories and Insular
Possessions of the United States, and the Canal Zone. No deliveries elsewhere will be made.
4. Form of application.—In applying for notes under this circular, care should be exercised to specify
that notes of Series C* are desired, and there must be furnished the name and address of the individual,
corporation, or other entity in which the notes are to be issued; and if address for delivery of the notes is
different, appropriate instructions should be given. The name should be in the same form as that used in
the Federal tax return of the purchaser, except that in the ease of joint tax returns of individuals, the notes
should be inscribed individually—the notes will not be issued in the names of two or more persons jointly.
The application should be accompanied by remittance to cover the purchase price—that is, par. The use
of an official application form is desirable, but not necessary. Appropriate forms may be obtained on
application to any Federal Reserve Bank or Branch, or the Treasurer of the United States, Washington,
D. C.; banking institutions and security dealers generally will be supplied with forms for the use of their
customers.
IV.
PRESENTATION
IN
PAYMENT
OF
TAXES
1. During and after the second calendar month after the month of purchase (as shown by the issue
date on each note), during such time, and under such rules and regulations as the Commissioner of
Internal Revenue, with the approval of the Secretary of the Treasury, shall prescribe, notes issued hereunder in the name of a taxpayer (individual, corporation, or other entity) may be presented and surrendered by such taxpayer, his agent, or his estate, to the Collector of Internal Revenue to whom the tax return
is made, and will be receivable by the Collector at par and accrued interest from the month of issue to the
month, inclusive (but no accrual beyond maturity), in which presented, in payment of any Federal
income taxes (current and back personal and corporation taxes, and excess-profits taxes), or any Federal
estate or gift taxes (current and back), assessed against the original purchaser or his estate. The notes
must be forwarded to the Collector at the risk and expense of the owner, and, for the owner's protection,
should be forwarded by registered mail, if not presented in person.
V.
CASH
REDEMPTION
AT
OR
PRIOR
TO
MATURITY
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).**
(b) Payment at maturity or on redemption before maturity will be made at par and accrued interest
to the month of payment, except, if a note is inscribed in the name of a bank that accepts demand deposits,
payment at maturity or on redemption before maturity will be made only at the issue price, or par, of the
note. However, if a note is acquired by any such bank through forfeiture of a loan, payment will be made
at the redemption value for the month in which so acquired.
2. jExecution of request for payment.—The owner in whose name the note is inscribed must appear
before one of the officers authorized by the Secretary of the Treasury to witness and certify requests for
payment, establish his identity, and in the presence of such officer sign the request for payment appearing
on the back of the note, adding the address to which check is to be mailed. After the request for payment
has been so signed, the witnessing officer should complete and sign the certificate provided for his use.
3. Officers authorized to witness and certify requests for payment.—All officers authorized to witness
and certify requests for payment of United States Savings Bonds, as set forth in Treasury Department
Circular No. 530, Fifth Revision, are hereby authorized to witness and certify requests for cash redemption
of Treasury notes issued under this circular. Such officers include, among others, United States postmasters,
(* As
(** As
amendment
issue or to
amended by First Amendment, dated June 22, 1943.)
amended by paragraph 1 of Second Amendment, dated July 27, 1943. Paragraph 2 of Second Amendment provides as follows: "2. This
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
the designation of the notes."/
P a g e 35
certain other post office officials, and the officers of all banks and trust companies incorporated in the
United States or its organized territories, including officers at branches thereof.
4. Presentation and surrender.—Notes bearing properly executed requests for payment must be presented and surrendered to the agent that issued the notes (as shown by the agent's dating stamp), at the
expense and risk of the owner. For the owner's protection, notes should be forwarded by registered mail, if
not presented in person.
5. Disability or death.—In case of the disability or death of the owner, and the notes are not to be
presented in payment of Federal income, estate or gift taxes due from him or from his estate, instructions
should be obtained from the issuing agent before the request for payment is executed, or the notes presented.
6. Partial redemption.—Partial cash redemption of a note, corresponding to an authorized denomination, may be made in the same manner as for full cash redemption, appropriate changes being made in the
request for payment. In case of partial redemption of a note, the remainder will be reissued in the same
name and with the same date of issue as the note surrendered.
7. Payment.—Payment of any note, either at maturity or on redemption before maturity, will be made
only by the Federal Reserve Bank or Branch, or the Treasury Department, as the case may be, that issued
the note, and will be made by check drawn to the order of the owner, and mailed to the address given in his
request for payment.
VI.
GENERAL
PROVISIONS
1. Except as provided in this circular, the notes issued hereunder will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing bonds and notes of the United
States.
2. Federal Reserve Banks and their Branches, as fiscal agents of the United States, are authorized
to perform such services or acts as may be appropriate and necessary under the provisions of this circular,
and under any instructions given by the Secretary of the Treasury.
3. The Secretary of the Treasury may at any time or from time to time supplement or amend the
terms of this circular, or of any amendments or supplements thereto, and may at any time or from time to
time prescribe amendatory rules and regulations governing the offering of the notes, information as to
which will promptly be furnished to the Federal Reserve Banks.
Page 36
H E N R Y MORGENTHATJ, J R . ,
Secretary of the Treasury.
TREASURY SAVINGS NOTES—SERIES C
TABLE OF TAX-PAYMENT OR REDEMPTION VALUES AND INVESTMENT YIELDS
The table below shows for each month from date of issue to date of maturity the amount of interest accrual; the principal
amount with accrued interest added, for notes of each denomination; the approximate investment yield on the par amount from issue
date to the beginning of each month following the month of issue; and the approximate investment yield on the current redemption
value from the beginning of the month indicated to the month of maturity.
Par Value (issue
price during month
of issue)
$1,000.00
Amount of interest accrual each month after
month of issue
$5,000.00
$10,000.00
$100,000.00
$500,000.00
$1,000,000.00
Tax-Payment or Redemption values during each monthly period after month of issue 1
Interest accrues at rate
of $0.50 per month per
$1,000 par amount:
$1, 000. 50 $5, 002. 50
First month
1, 001. 00
5, 005. 00
Second month
1, 001. 50 5, 007. 50
Third month
1, 002. 00 5, 010. 00
Fourth month
1, 002. 50
5, 012. 50
Fifth month
1, 003. 00
5, 015. 00
Sixth month
$10, 005. 00 $100, 050. 00
10, 010. 00
100,100. 00
10, 015. 00
100,150. 00
10, 020. 00 100, 200. 00
100, 250. 00
10, 025. 00
100, 300. 00
10, 030. 00
$500,
500,
500,
501,
501,
501,
Approximate
investment
yield on
par amount
from issue
date to
beginning of
each monthly
period
thereafter.
Approximate
investment
yield on
current taxpayment or
redemption
values from
beginning of
each monthly
period to
maturity.
Percent
Percent
250. 00
500. 00
750. 00
000. 00
250. 00
500. 00
$1, 000, 500. 00
1, 001, 000. 00
1, 001, 500. 00
1, 002, 000. 00
1, 002, 500. 00
1, 003, 000. 00
.60
.60
.60
.60
.60
.60
Interest accrues at rate
of $0.80 per month per
$1,000 par amount:
Seventh month
Eighth month
Ninth month
Tenth month
Eleventh month
Twelfth month
1, 003. 80
1, 004. 60
1, 005. 40
1, 006. 20
1, 007. 00
1, 007. 80
5, 019. 00
5, 023. 00
5, 027. 00
5, 031. 00
5, 035. 00
5, 039. 00
10, 038. 00
10, 046. 00
10, 054. 00
10, 062. 00
10, 070.00
10, 078. 00
100, 380. 00
100, 460. 00
100, 540. 00
100,620.00
100, 700. 00
100, 780. 00
501,900. 00
502, 300. 00
502, 700. 00
503, 100. 00
503, 500. 00
503, 900. 00
1, 003, 800. 00
1, 004, 600. 00
1, 005, 400. 00
1, 006, 200. 00
1, 007, 000. 00
1, 007, 800. 00
65
69
72
74
76
78
Interest accrues at rate
of $0.90 per month per
$1,000 par amount:
Thirteenth month
Fourteenth month
Fifteenth month
Sixteenth month
Seventeenth month
Eighteenth month
1, 008. 70
1, 009. 60
1, 010. 50
1, 011. 40
1, 012. 30
1, 013. 20
5, 043. 50
5, 048. 00
5, 052. 50
5, 057. 00
5, 061. 50
5, 066. 00
10, 087. 00
10, 096. 00
10,105. 00
10,114. 00
10,123. 00
10,132. 00
100, 870. 00
100, 960. 00
101, 050. 00
101, 140. 00
101, 230. 00
101, 320. 00
504, 350. 00
504, 800. 00
505, 250. 00
505, 700. 00
506, 150. 00
506, 600. 00
1, 008, 700. 00
1, 009, 600. 00
1, 010, 500. 00
1, 011, 400. 00
1, 012, 300. 00
1, 013, 200. 00
80
82
84
85
86
Interest accrues at rate
of $1.00 per month per
$1,000 par amount:
Nineteenth month . . .
Twentieth month . . .
Twenty-first month . .
Twenty-second month
Twenty-third month .
Twenty-fourth month
1, 014. 20
1, 015. 20
1, 016. 20
1, 017.20
1, 018. 20
1, 019. 20
5, 071. 00
5, 076. 00
5, 081. 00
5, 086. 00
5, 091. 00
5, 096. 00
10,142. 00
10, 152. 00
10, 162. 00
10, 172. 00
10,182. 00
10, 192. 00
101, 420. 00
101, 520. 00
101, 620. 00
101, 720. 00
101, 820. 00
101, 920. 00
507,100. 00
507, 600. 00
508, 100. 00
508, 600. 00
509, 100. 00
509, 600. 00
1, 014, 200. 00
1, 015, 200. 00
1, 016, 200. 00
1, 017, 200. 00
1, 018, 200. 00
1, 019, 200. 00
.89
.91
. 92
.93
.94
.95
1, 020. 30
1, 021. 40
1, 022. 50
1, 023. 60
1, 024. 70
1, 025. 80
1, 026. 90
1, 028. 00
1, 029.10
1, 030. 20
1, 031. 30
5,101. 50
5,107. 00
5,112. 50
5,118. 00
5,123. 50
5,129. 00
5,134. 50
5, 140. 00
5,145. 50
5,151. 00
5,156. 50
10, 203. 00
10, 214. 00
10, 225. 00
10, 236. 00
10, 247. 00
10, 258. 00
10, 269. 00
102, 030. 00
102, 140. 00
102,250. 00
102, 360. 00
102, 470. 00
102, 580. 00
102, 690. 00
10, 280. 00 102, 800. 00
102, 910. 00
10, 291. 00
10, 302. 00
103, 020. 00
10, 313. 00
103, 130.00
510, 150. 00
510, 700. 00
511, 250. 00
511,800.00
512, 350. 00
512, 900. 00
513, 450. 00
514, 000. 00
514, 550. 00
515,100. 00
515, 650. 00
1, 020, 300. 00
1, 021, 400. 00
1, 022, 500. 00
1, 023, 600. 00
1, 024, 700.00
1, 025, 800.00
1, 026, 900. 00
1, 028, 000.00
1, 029, 100. 00
1, 030, 200.00
1, 031, 300. 00
.97
.98
.99
1.00
1. 01
1.02
1. 03
1.04
1. 05
1. 05
1, 032. 40
5,162. 00
10, 324. 00
516, 200. 00
1, 032, 400. 00
1. 07
Interest accrues at rate
of $1.10 per month per
$1,000 par amount:
Twenty-fifth month ..
Twenty-sixth month .,
Twenty-seventh month
Twenty-eighth month
Twenty-ninth month
Thirtieth month . . . .
Thirty-first month . . .
Thirty-second month
Thirty-third month .
Thirty-fourth month
Thirty-fifth month . .
Thirty-sixth month
(MATURITY) . . .
103, 240. 00
1.06
1 Not acceptable in payment of taxes until during and after the second calendar month after the month of issue, and not redeemable for cash until
during and after the sixth calendar month after the month of issue, on 30 days' advance notice.
2 Approximate investment yield for entire period from issuance to maturity.
Page 37
UNITED STATES OF AMERICA
% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES E-1944
Dated and bearing interest from September 15, 1943
Due September 1, 1944
1943
Department Circular No. 721
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 the Public Debt
SECRETARY,
Washington, September
I. O F F E R I N G O F
9,1943.
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 E-1944. These certificates will not be available for subscription, for their
own account, by commercial banks, which are defined for this purpose as banks accepting demand
deposits. The amount of the offering is not specifically limited.
II. D E S C R I P T I O N O F
CERTIFICATES
1. The certificates will be dated September 15, 1943, and will bear interest from that date at
the rate of % percent per annum, payable on a semiannual basis on March 1 and September 1, 1944.
They will mature September 1, 1944, 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.
acceptable in payment of taxes.
They will not be
4. Bearer certificates with interest coupons attached will be issued in denominations of $1,000,
$5,000, $10,000, $100,000 and $1,000,000. 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. S U B S C R I P T I O N A N D
ALLOTMENT
1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury Department, Washington. An offering of securities of identical or similar tenor to those offered
by this circular will be made for the exclusive subscription of commercial banks shortly after the
conclusion of this offering. Until such offering has been made and the books thereon closed, or until
ten days after the subscription books close on this offering, whichever is earlier, commercial banks
are requested not to purchase and subscribers are requested not to trade in the securities offered by
this circular. 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 must be accompanied by payment in full for the amount of certificates
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 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, all subscriptions will be allotted in full. Allotment notices will be sent
out promptly upon allotment.
Page 38
IV.
PAYMENT
1. Payment at par and accrued interest, if any, for certificates allotted hereunder must be made
on or before September 15,1943, or on later allotment. One day's accrued interest is $0,024 per $1,000.
Any qualified depositary will be permitted to make payment by credit for certificates allotted to its
customers up to any amount for which it shall be qualified in excess of existing deposits, when so
notified by the Federal Reserve Bank of its District.
V. G E N E R A L
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, JR.,
Secretary of the Treasury.
Page 39
UNITED STATES OF AMERICA
2 PERCENT TREASURY BONDS OF 1951-53
Dated and bearing interest from September 15, 1943
Due September 15, 1953
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER SEPTEMBER 15, 1951
Interest payable March 15 and September 15
1943
Department Circular No. 720
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 the Public Debt
SECRETARY,
Washington, September
9,1943.
I. O F F E R I N G O F B O N D S
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 bonds of the United States, designated 2 percent Treasury Bonds of 1951-53. These bonds will
not be available for subscription, for their own account, by commercial banks, which are defined for
this purpose as banks accepting demand deposits. The amount of the offering is not specifically
limited.
II. D E S C R I P T I O N O F B O N D S
1. The bonds will be dated September 15, 1943, and will bear interest from that date at the rate
of 2 percent per annum, payable semiannually on March 15 and September 15 in each year until
the principal amount becomes payable. They will mature September 15, 1953, but may be redeemed
at the option of the United States on and after September 15, 1951, in whole or in part, at
par and accrued interest, on any interest day or days, on 4 months' notice of redemption given in
such manner as the Secretary of the Treasury shall prescribe. In case of partial redemption the
bonds to be redeemed will be determined by such method as may be prescribed by the Secretary of
the Treasury. From the date of redemption designated in any such notice, interest on the bonds
called for redemption shall cease.
2. The income derived from the bonds shall be subject to all Federal taxes, now or hereafter
imposed. The bonds 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 bonds will be acceptable to secure deposits of public moneys. They will not be entitled
to any privilege of conversion.
4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $500, $1,000, $5,000, $10,000, $100,000 and $1,000,000.
Provision will be made for the interchange of bonds of different denominations and of coupon and
registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by
the Secretary of the Treasury.
5. The bonds will be subject to the general regulations of the Treasury Department, now or
hereafter prescribed, governing United States bonds.
III. SUBSCRIPTION A N D
ALLOTMENT
1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury Department, Washington. An offering of securities of identical or similar tenor to those offered
by this circular will be made for the exclusive subscription of commercial banks shortly after the
conclusion of this offering. Until such offering has been made and the books thereon closed, or until
ten days after the subscription books close on this offering, whichever is earlier, commercial banks
are requested not to purchase and subscribers are requested not to trade in the securities offered by
Page 40
this circular. 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 must be accompanied by payment in full for the amount of bonds 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 bonds 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, all subscriptions will be allotted in full. Allotment notices will be sent
out promptly upon allotment.
IV.
PAYMENT
1. Payment at par and accrued interest, if any, for bonds allotted hereunder must be made on or
before September 15, 1943, or on later allotment; provided, however, that bonds allotted to life insurance companies may be paid for, in whole or in part, at par and accrued interest, at any time or
times not later than November 1, 1943. One day's accrued interest is $0,055 per $1,000. Any qualified depositary will be permitted to make payment by credit for bonds allotted to its customers up to
any amount for which it shall be qualified in excess of existing deposits, when so notified by the
Federal Reserve Bank of its District.
V. G E N E R A L
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 bonds allotted, to make delivery of bonds on full-paid subscriptions
allotted, and they may issue interim receipts pending delivery of the definitive bonds.
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.
Page 41
UNITED STATES OF AMERICA
214 PERCENT TREASURY BONDS OF 1964-69
Dated and bearing interest from September 15, 1943
Due December 15, 1969
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER DECEMBER 15, 1964
Interest payable June 15 and December 15
1943
Department Circular No. 719
TREASURY DEPARTMENT,
_
™
O F F I C E OF T H E S E C R E T A R Y ,
Washington, September
Bureau of C the Public Debt
9,1943.
I. O F F E R I N G O F B O N D S
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 bonds of the United States, designated 2y 2 percent Treasury Bonds of 1964-69. These bonds
will not be available for subscription, for their own account, by commercial banks, which are defined
for this purpose as banks accepting demand deposits. The amount of the offering is not specifically
limited.
II. D E S C R I P T I O N O F B O N D S
1. The bonds will be dated September 15, 1943, and will bear interest from that date at the rate
of 2y 2 percent per annum, payable on a semiannual basis on December 15, 1943, and thereafter on
June 15 and December 15 in each year until the principal amount becomes payable. They will
mature December 15, 1969, but may be redeemed at the option of the United States on and after
December 15, 1964, in whole or in part, at par and accrued interest, on any interest day or days, on 4
months' notice of redemption given in such manner as the Secretary of the Treasury shall prescribe.
In case of partial redemption the bonds to be redeemed will be determined by such method as may be
prescribed by the Secretary of the Treasury. From the date of redemption designated in any such
notice, interest on the bonds called for redemption shall cease.
2. The income derived from the bonds shall be subject to all Federal taxes, now or hereafter
imposed. The bonds 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 bonds will not be acceptable to secure deposits of public moneys before September 15,
1953. They will not be entitled to any privilege of conversion.
4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $500, $1,000, $5,000, $10,000, $100,000 and $1,000,000. Provision will be made for the interchange of bonds of different denominations and of coupon and registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by the
Secretary of the Treasury, except that they may not, before September 15, 1953, be transferred to or
be held by commercial banks, which are defined for this purpose as banks accepting demand deposits.
However, the bonds may be pledged as collateral for loans, including loans by commercial banks, but
any such bank acquiring such bonds before September 15, 1953, because of the failure of such loans
to be paid at maturity will be required to dispose of them in the same manner as they dispose of
other assets not eligible to be owned by banks.
5. Any bonds issued hereunder which upon the death of the owner constitute part of his estate,
will be redeemed at the option of the duly constituted representatives of the deceased owner's estate,
at par and accrued interest to date of payment,1 Provided:
1 An exact half-year's interest is computed for each full half-year period irrespective of the actual number of
days in the half year. For a fractional part of any half year, computation is on the basis of the actual number of
days in such half year.
Page 42
(a) that the bonds were actually owned by the decedent at the time of his death; and
(b) that the Secretary of the Treasury be authorized to apply the entire proceeds of redemption to the payment of Federal estate taxes.
Registered bonds submitted for redemption hereunder must be duly assigned to " T h e Secretary of
the Treasury for redemption, the proceeds to be paid to the Collector of Internal Revenue at
for credit on Federal estate taxes due from estate of
" Owing to the periodic closing of the transfer books
and the impossibility of stopping payment of interest to the registered owner during the closed period,
registered bonds received after the closing of the books for payment during such closed period wall
be paid only at par with a deduction of interest from the date of payment to the next interest payment date 2 ; bonds received during the closed period for payment at a date after the books reopen
will be paid at par plus accrued interest from the reopening of the books to the date of payment. In
either case checks for the full six months' interest due on the last day of the closed period will be
forwarded to the owner in due course. All bonds submitted must be accompanied by Form PD
1782 3, properly completed, signed and sworn to, and by a certificate of the appointment of the personal representatives, under seal of the court, dated not more than six months prior to the submission of the bonds, which shall show that at the date thereof the appointment was still in force and
effect. Upon payment of the bonds appropriate memorandum receipt will be forwarded to the representatives, which will be followed in due course by formal receipt from the Collector of Internal
Revenue.
6. Except as provided in the preceding paragraphs, the bonds will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States bonds.
III. S U B S C R I P T I O N A N D
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. Subscriptions must be accompanied by payment in full for the amount of
bonds 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 bonds 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, all subscriptions will be allotted in full. Allotment notices will be sent
out promptly upon allotment.
IV.
PAYMENT
1. Payment at par and accrued interest, if any, for bonds allotted hereunder must be made on or
before September 15, 1943, or on later allotment; provided, however, that bonds allotted to life insurance companies may be paid for, in whole or in part, at par and accrued interest, at any time or
times not later than November 1, 1943. One day's accrued interest is $0,068 per $1,000. Any qualified depositary will be permitted to make payment by credit for bonds allotted to its customers up to
any amount for which it shall be qualified in excess of existing deposits, when so notified by the
Federal Reserve Bank of its District.
V. G E N E R A L
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 bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive bonds.
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.
2 The transfer books are closed from May 16 to June 15, and from November 16 to December 15 (both dates
inclusive) in each year.
3 Copies of Form PD 1782 may be obtained from any Federal Reserve Bank or from the Treasury Department,
Washington, D. C.
Page 43
ANNOUNCEMENT B Y THE SECRETARY OF T H E TREASURY
regarding the
THIRD WAR LOAN
and
REFUNDING OF 3 % % TREASURY BONDS OF 1943-45
Released for publication August 16, 1943
Secretary of the Treasury Morgenthau today released the official circulars containing the
detailed terms and conditions of the 2l/2% and 2% bonds, and the % % certificates of indebtedness, which will be sold during- the Third War Loan Drive beginning September 9.
These securities, as well as Series E W a r Savings Bonds, Series F and G United States
Savings Bonds and Series C Treasury Savings Notes, will be available during the entire period of
the Drive for subscription by individuals, insurance companies, savings banks, savings and loan
associations and all other classes of subscribers except commercial banks, which are defined for
this purpose as banks accepting demand deposits, which will not be permitted to subscribe for their
own account.
On July 22, the Secretary announced that the securities to be sold during the Third War Loan
Drive would be sold entirely to nonbanking investors. In keeping with this objective, the official
circulars governing the 2% bonds and the certificates of indebtedness contain an express request
that commercial banks not purchase and that subscribers not trade in these securities until ten days
after the close of the Drive, or until after the books close on an offering of the same or similar
securities for the exclusive subscription of commercial banks for their own account shortly after
the conclusion of the Drive, whichever is earlier. The circular offering the 2y2°/o bonds contains
a provision that these bonds may not be held by commercial banks before September 15, 1953.
Secretary Morgenthau pointed out that because life insurance companies receive substantial
funds at a steady and predictable rate, arrangements have been made so that such companies may
subscribe during the Drive to the 2 l / 2 % and 2°/o bonds in anticipation of funds which will be
available to them for investment up to November 1, and defer payments accordingly. Provisions
to carry out such arrangements are included in the official circulars. These arrangements are
limited to companies whose principal business is the writing of life insurance. Bonds allotted to
such companies may be paid for, in whole or in part, at par and accrued interest, at any time or
times not later than November 1, 1943.
The Secretary again emphasized the importance of having subscriptions entered and paid for
through the banking institutions where the funds of the subscribers are located, in order to avoid
unnecessary movement of banking funds between various sections of the country.
The Secretary further announced that holders of the 3^4% Treasury Bonds of 1943-45, which
have been called for redemption on October 15, will be given an opportunity to exchange their called
bonds for other securities shortly after the close of the Third War Loan Drive. Holders other
than commercial banks will be given the option of exchanging for either the 2% or the 2y2°/o bonds
which are to be sold during the Drive, in authorized denominations. Commercial banks will be
permitted to exchange their holdings for the new 2% bonds. In all cases exchanges will be made
par for par with interest adjustments as of October 15.
Page 44
FEDERAL RESERVE BANK
OF m i YORK
(Copy of letter sent to
22 life insurance companies in Second Federal
Reserve District)
August 27, 1943.
Gentlemen:
In connection with the Third War Loan Drive which will open on
Septanber 9, 1943, we enclose a copy of our printed letter dated August 26,
1943, addressed to interested persons other than banking institutions in the
Second Federal Reserve District, with respect to offerings of 2 l/2 Percent
Treasury Bonds of 1964-69, 2 Percent Treasury Bonds of 1951-53 and 7/8
Percent Treasury Certificates of Indebtedness of Series E-1944*
Section IV of Treasury Department Circulars Nos# 719 and 720 regarding the 2 1/2 Percent Treasury Bonds of 1964-69 and/the 2^Percent Treasury
Bonds of 1951-53, respectively, which appears on pages 3 and K> of the enclosure herewith, provides that any such bonds that may be allotted to life
insurance companies, may be paid for, in whole or in part, at par and accrued
interest, at any time or times not later than November 1, 1943* If you decide
to take advantage of the deferred payment privilege, please follow the instructions outlined in this letter*
If you desire to make any payment for 2 1/2 Percent Treasury Bonds of
1964-69 or 2 Percent Treasury Bonds of 1951-53 while the books are open during
the Third War Loan Drive, a separate subscription for an amount of bonds equal
to such payment should be filed in the usual manner accompanied by full payment therefor at par and accrued interest, if any. A separate subscription
should be filed for any bonds to be paid for after the books have closed. No
payment should be made in respect of such a subscription at the time it is
filed, but payment must be made not later than November 1, 1943* A single subscription to be paid for in part while the books are open and in part after the
books have closed, should not be submitted*
Any subscription for bonds for which you desire to make deferred payment should be submitted by you on our regular subscription form viiich should
be modified by striking out the sections entitled "Classification of subscriptions for computation of interest accrual" and "Payment in full for such
securities is made as indicated below"• The subscription form so modified
should be accompanied in each case by a letter from you signed by a duly
authorized officer containing your agreement to pay for the bonds in accordance
with the provisions of the appropriate Treasury Department Circular, A form of
2
8/27/43
letter which ?.lll be acceptable to us in this connection is enclosed.
The subscription form and letter may be forwarded through a banking
institution or sent directly to us. The Treasury has emphasized the importance
of having subscriptions paid for through the banking institutions where the
funds of subscribers are located in order to permit such institutions to make
full use of their V»ar Loan Deposit Accounts; accordingly, you should arrange
to have deferred payments made for your account by the banking institution or
institutions in which the funds are deposited. You should advise each institution making payment for your account that each payment should be clearly
identified with your subscription, and that if such payment is to be made by
the banking institution by credit to the War Loan Deposit Account, the institution should furnish us with a letter advising us of the date and amount of such
credit.
Each payment on account of your subscription should include accrued
interest on the principal amount covered by the payment to the date on which
the payment is received by us. If payment is made in more than one instalment,
you will have the option (a) of taking delivery, in the normal course following
each instalment payment, of bonds of a par amount equal to the principal amount
covered by such payment, or (b) of taking our receipt for the amount of each
instalment payment and deferring delivery of the bonds until the final payment
is made. Your letter to us accompanying your subscription should indicate
which ox these alternatives you have sleeted.
The Treasury Department has made no provision for deferred payments
in respect of subscriptions to 7/8 Percent Treasury Certificates of Indebtedness
of Series E-1944* Accordingly, subscriptions for such securities must be accompanied by payment in full at par and accrued interest from September 15, 1943•
We shall appreciate your cooperation in observing these instructions
carefully in connection with subscriptions submitted by you.
Very truly yours,
(Signed) L. R. Rounds,
First Vice President,
Enclosure
Federal Reserve Bank of New York,
Fiscal Agent of the United States,
Federal Reserve P. 0. Station }
New York 7, New York.
IDatel
ATTENTION:
Government Bond Department
Gentlemen:
We are submitting herewith our subscription dated September
par amount
194-3, for $
In
consideration of the acceptance of such subscription by you, we agree that
payment in full, at par and accrued interest from September 15, 1943, to the
date or dates of payment, for the bonds allotted to us thereon will be made by
us or for our account not later than November 1, 194-3, as provided in Treasury
Department Circular J
It is understood that payment for such bonds may be made in one or
more instalments at any time or times to and including November 1, 194-3• Each
payment on account of such subscription m i l include accrued interest on the
principal amount covered by the payment to the date on which the payment is received by you. If full payment is to be made in more than one instalment, we
wish to
take delivery, in the normal.course following
each instalment payment, of bonds of a par
amount equal to the principal amount covered
by such payment,
take your receipt for the amount of each
instalment payment and defer delivery of the
bonds until the final payment is made.
(Strike out one of the foregoing a l t e r n a t i v e s . )
The principal business of this company is the writing of life insurance.
Very truly yours >
(Name of Company?
By
FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
August
26,1943
CASH OFFERINGS OF
2y2 Percent Treasury Bonds of 1964-69
2 Percent Treasury Bonds of 1951-53
7/g Percent Treasury Certificates of Indebtedness of Series E-1944
To Interested Persons, Other than Banking
Institutions, in the Second Federal Reserve District:
F o r your information in connection with the Third W a r Loan Drive, which starts September
9,1943, the following material is set forth in this circular:
Announcement by the Secretary of the Treasury, released for publication July 22, 1943.
Announcement by the Secretary of the Treasury, released for publication August 16, 1943.
Treasury Department Circular No. 719, dated September 9, 1943, with respect to an offering of
2y2 Percent Treasury Bonds of 1964-69.
Treasury Department Circular No. 720, dated September 9, 1943, with respect to an offering of
2 Percent Treasury Bonds of 1951-53.
Treasury Department Circular No. 721, dated September 9, 1943, with respect to an offering of
7/s Percent Treasury Certificates of Indebtedness of Series E-1944.
1
Submission of subscriptions
A subscription to any of such issues by any eligible purchaser f o r his own account may be
submitted directly to 11s. However, in order to avoid transfers of funds and to minimize the
amount of accrued interest payable, purchasers are urged to submit their subscriptions through
the banking institutions in which the funds to be used in payment f o r such subscriptions are
on deposit, rather than to forward the subscriptions directly to us.
Subscriptions to any of such issues f o r account of customers may be submitted to us by
banking institutions only. Accordingly, security dealers, brokers, savings and loan associations
and others should enter subscriptions f o r account of customers through banking institutions.
Subscriptions should be submitted only on the appropriate forms provided by us, as f o l l o w s :
Issue
Use
2y 2 % Treasury Bonds of 1964-69
—Coupon Form
—Registered Form
1
2
2% Treasury Bonds of 1951-53
—Coupon Form
—Registered Form
3
4
% % Treasury Certificates of Indebtedness of Series E-1944
5
Two copies of each of these forms are enclosed.
Application forms provided by the State W a r Finance Committees should not be
to us.
forwarded
Payment for securities
Subscriptions must be accompanied by payment in full at par and accrued interest, if any.
However, since life insurance companies receive substantial funds at a steady and predictable
rate, the Treasury has provided that companies whose principal business is the writing of life
insurance may make payment, at par and accrued interest, not later than November 1,1943, for
2 % Percent Treasury Bonds of 1964-69 and 2 Percent Treasury Bonds of 1951-53 subscribed
for by them during the drive. Instructions with respect to the submission of subscriptions by
life insurance companies which elect to make deferred payment will be furnished to each life
insurance company having its principal office in the Second Federal Reserve District.
Computation of accrued interest
Each such issue will be dated September 15, 1943, and will be sold at par plus accrued
interest from September 15 to the date payment is received by us, except that accrued interest is
waived on $500 and $1,000 subscriptions to the 2V2 Percent Treasury Bonds of 1964-69 and the
2 Percent Treasury Bonds of 1951-53. One day's accrued interest per $1,000 on each of the
issues is as follows:
One Day's
Issue
Interest
21/2% Treasury Bonds of 1964-69
2% Treasury Bonds of 1951-53
% % Treasury Certificates of Indebtedness of Series E-1944
$0,068
0.055
0.024
In the case of a subscription submitted directly to us with a check in payment therefor,
accrued interest should be paid to the date on which funds in payment of the check will be available to us in the normal course of collection. In the case of a subscription submitted through a
banking institution, the subscriber should consult such institution regarding the amount of
accrued interest payable.
Period during which subscription books will remain open
The books for receipt of subscriptions to each such issue will open on September 9, 1943,
and will remain open until closed by the Secretary of the Treasury. In previous drives, the
books have remained open for several weeks and approximately one week's advance notice was
given prior to the closing.
Other issues offered during the drive
In addition to sales of the issues referred to above, which are available for subscription only
during the Third War Loan Drive, sales of the following issues, wjtiich are continuously available, will be included in the totals for the Drive:
United States War Savings Bonds of Series E
United States Savings Bonds of Series F and Gr
Treasury Savings Notes of Series C
Full information with respect to the terms of such securities and the methods of subscribing
thereto may be obtained from any banking institution or from any representative of the State
W a r Finance Committee.
ALLAN
SPROUL,
President.
Page 2
ANNOUNCEMENT B Y T H E S E C R E T A R Y OF T H E T R E A S U R Y
regarding the
THIRD W A R LOAN
Released for publication July 22, 1943
Secretary of the Treasury Henry Morgenthau, Jr., announced today that the goal set for the
Third War Loan Drive, starting September 9, will be $15 billion.
Mr. Morgenthau said that the entire $15 billion will be sold to individual investors, corporations, insurance companies and other non-banking sources.
"This goal and the Third War Loan program," he said, "was determined by Treasury officials
after receiving recommendations from chairmen of the State War Finance Committees, and officials
of the Federal Reserve System and the American Bankers Association. Getting this amount of
money will be a huge task, and will represent the largest financing program in the history of
the world.
"The job of raising this $15 billion," he said, "will be handled by War Finance Committees
of each state, and the bonds will be sold largely by hundreds of thousands of patriotic volunteer
salesmen, who already have made plans to concentrate on house-to-house selling, since a major
consideration is increasing the number of people who are buying War Bonds."
The securities to be offered in the Third War Loan, it was pointed out, will be essentially the
same types as those sold in the Second War Loan.
The securities to be sold under the direction of the War Finance Committees will consist of:
1.
2.
3.
Series E Savings Bonds
Series F and G Savings Bonds
Series C Savings Notes
4.
2y 2 % Bonds of 1964-69
5.
6.
2% Bonds of 1951-53
y%°/o Certificates of Indebtedness
The 2 B o n d will be dated September 15, 1943, due December 15, 1969, callable December
15, 1964, and will be issued in coupon or registered form at the option of the buyers in denominations from $500 to $1,000,000. Commercial banks, which are defined for this purpose as banks
accepting demand deposits, will not be permitted to own these Bonds until September 15, 1953.
The 2% Bond will be dated September 15, 1943, due September 15, 1953, callable September
15, 1951, and will be issued in coupon or registered form at the option of the buyers in denominations from $500 to $1,000,000.
The y%°/o Certificates of Indebtedness will be dated September 15, 1943, due September 1, 1944,
and will be issued in denominations of $1,000 to $1,000,000, and in coupon form only.
None of these securities will be available for subscription by commercial banks for their own
account during the period of the Drive. However, shortly after the Drive terminates, a 2 per cent
Bond and a % per cent Certificate of Indebtedness will be offered for subscription by commercial
banks for their own account. In order to confine all sales in the Drive to non-banking sources,
the Treasury will request commerical banks not to buy in the market, and will request the market
not to trade in, either of these securities offered in the Drive until the books for bank subscriptions are closed.
To avoid unnecessary transfers of funds from one locality to another, the Treasury would prefer
to have all subscriptions by corporations and firms entered and paid for through the banking institutions where the funds are located.
Page 3
ANNOUNCEMENT BY THE SECRETARY OF THE TREASURY
regarding the
THIRD WAR LOAN
and
REFUNDING OF 3%% TREASURY BONDS OF 1943-45
Released for publication August 16, 1943
Secretary of the Treasury Morgenthau today released the official circulars containing the
detailed terms and conditions of the 2 a n d 2% bonds, and the % % certificates of indebtedness, which will be sold during the Third War Loan Drive beginning September 9.
These securities, as well as Series E War Savings Bonds, Series F and G United States
Savings Bonds and Series C Treasury Savings Notes, will be available during the entire period of
the Drive for subscription by individuals, insurance companies, savings banks, savings and loan
associations and all other classes of subscribers except commercial banks, which are defined for
this purpose as banks accepting demand deposits, which will not be permitted to subscribe for their
own account.
On July 22, the Secretary announced that the securities to be sold during the Third War Loan
Drive would be sold entirely to nonbanking investors. In keeping with this objective, the official
circulars governing the 2% bonds and the certificates of indebtedness contain an express request
that commercial banks not purchase and that subscribers not trade in these securities until ten days
after the close of the Drive, or until after the books close on an offering of the same or similar
securities for the exclusive subscription of commercial banks for their own account shortly after
the conclusion of the Drive, whichever is earlier. The circular offering the 2 ^ % bonds contains
a provision that these bonds may not be held by commercial banks before September 15, 1953.
Secretary Morgenthau pointed out that because life insurance companies receive substantial
funds at a steady and predictable rate, arrangements have been made so that such companies may
subscribe during the Drive to the 2 1 / 2 % and 2% bonds in anticipation of funds which will be
available to them for investment up to November 1, and defer payments accordingly. Provisions
to carry out such arrangements are included in the official circulars. These arrangements are
limited to companies whose principal business is the writing of life insurance. Bonds allotted to
such companies may be paid for, in whole or in part, at par and accrued interest, at any time or
times not later than November 1, 1943.
The Secretary again emphasized the importance of having subscriptions entered and paid for
through the banking institutions where the funds of the subscribers are located, in order to avoid
unnecessary movement of banking funds between various sections of the country.
The Secretary further announced that holders of the
Treasury Bonds of 1943-45, which
have been called for redemption on October 15, will be given an opportunity to exchange their called
bonds for other securities shortly after the close of the Third War Loan Drive. Holders other
than commercial banks will be given the option of exchanging for either the 2°/o or the 2l/2% bonds
which are to be sold during the Drive, in authorized denominations. Commercial banks will be
permitted to exchange their holdings for the new 2% bonds. In all cases exchanges will be made
par for par with interest adjustments as of October 15.
Page 4
UNITED STATES OF AMERICA
2y z PERCENT TREASURY BONDS OF 1964-69
Dated and bearing interest from September 15, 1943
Due December 15, 1969
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER DECEMBER 15, 1964
Interest payable June 15 and December 15
1943
Department Circular No. 719
Fiscal Service
Bureau of the Public Debt
TREASURY
DEPARTMENT,
OFFICE OF THE
SECRETARY,
Washington, September 9,1943.
I. O F F E R I N G OF BONDS
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 bonds of the United States, designated 2y2 percent Treasury Bonds of 1964-69. These bonds
will not be available for subscription, for their own account, by commercial banks, which are defined
for this purpose as banks accepting demand deposits. The amount of the offering is not specifically
limited.
II. D E S C R I P T I O N OF B O N D S
1. The bonds will be dated September 15, 1943, and will bear interest from that date at the rate
of 2y2 percent per annum, payable on a semiannual basis on December 15, 1943, and thereafter on
June 15 and December 15 in each year until the principal amount becomes payable. They will
mature December 15, 1969, but may be redeemed at the option of the United States on and after
December 15, 1964, in whole or in part, at par and accrued interest, on any interest day or days, on 4
months' notice of redemption given in such manner as the Secretary of the Treasury shall prescribe.
In case of partial redemption the bonds to be redeemed will be determined by such method as may be
prescribed by the Secretary of the Treasury. From the date of redemption designated in any such
notice, interest on the bonds called for redemption shall cease.
2. The income derived from the bonds shall be subject to all Federal taxes, now or hereafter
imposed. The bonds 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 bonds will not be acceptable to secure deposits of public moneys before September 15,
1953. They will not be entitled to any privilege of conversion.
4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $500, $1,000, $5,000, $10,000, $100,000 and $1,000,000. Provision will be made for the interchange of bonds of different denominations and of coupon and registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by the
Secretary of the Treasury, except that they may not, before September 15, 1953, be transferred to or
be held by commercial banks, which are defined for this purpose as banks accepting demand deposits.
However, the bonds may be pledged as collateral for loans, including loans by commercial banks, but
any such bank acquiring such bonds before September 15, 1953, because of the failure of such loans
to be paid at maturity will be required to dispose of them in the same manner as they dispose of
other assets not eligible to be owned by banks.
5. Any bonds issued hereunder which upon the death of the owner constitute part of his estate,
will be redeemed at the option of the duly constituted representatives of the deceased owner's estate,
at par and accrued interest to date of payment,1 Provided:
(a) that the bonds were actually owned by the decedent at the time of his death; and
(b) that the Secretary of the Treasury be authorized to apply the entire proceeds of redemption to the payment of Federal estate taxes.
i An exact half-year's interest is computed for each full half-year period irrespective of the actual number of
days in the half year. For a fractional part of any half year, computation is on the basis of the actual number of
days in such half year.
Page 5
Registered bonds submitted for redemption hereunder must be duly assigned to " T h e Secretary of
the Treasury for redemption, the proceeds to be paid to the Collector of Internal Revenue at
for credit on Federal estate taxes due from estate of
" Owing to the periodic closing of the transfer books
and the impossibility of stopping payment of interest to the registered owner during the closed period,
registered bonds received after the closing of the books for payment during such closed period will
be paid only at par with a deduction of interest from the date of payment to the next interest payment date 2 ; bonds received during the closed period for payment at a date after the books reopen
will be paid at par plus accrued interest from the reopening of the books to the date of payment. In
either case checks for the full six months' interest due on the last day of the closed period will be
forwarded to the owner in due course. All bonds submitted must be accompanied by Form PD
1782 3, properly completed, signed and sworn to, and by a certificate of the appointment of the personal representatives, under seal of the court, dated not more than six months prior to the submission of the bonds, which shall show that at the date thereof the appointment was still in force and
effect. Upon payment of the bonds appropriate memorandum receipt will be forwarded to the representatives, which will be followed in due course by formal receipt from the Collector of Internal
Revenue.
6. Except as provided in the preceding paragraphs, the bonds will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States bonds.
III. SUBSCRIPTION A N D A L L O T M E N T
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. Subscriptions must be accompanied by payment in full for the amount of
bonds 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 bonds 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, all subscriptions will be allotted in full. Allotment notices will be sent
out promptly upon allotment.
IV.
PAYMENT
1. Payment at par and accrued interest, if any, for bonds allotted hereunder must be made on or
before September 15, 1943, or on later allotment; provided, however, that bonds allotted to life insurance companies may be paid for, in whole or in part, at par and accrued interest, at any time or
times not later than November 1, 1943. One day's accrued interest is $0,068 per $1,000. Any qualified depositary will be permitted to make payment by credit for bonds allotted to its customers up to
any amount for which it shall be qualified in excess of existing deposits, when so notified by the
Federal Reserve Bank of its District.
V. G E N E R A L P R O V I S I O N S
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 bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive bonds.
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.
2 The transfer books are closed from May 16 to June 15, and from November 16 to December 15 (both dates
inclusive) in each year.
3 Copies of Form PD 1782 may be obtained from any Federal Reserve Bank or from the Treasury Department,
Washington, D. C.
Page 6
UNITED STATES OF AMERICA
2 PERCENT TREASURY BONDS OF 1951-53
Dated and bearing interest from September 15, 1943
Due September 15, 1953
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER SEPTEMBER 15, 1951
Interest payable March 15 and September 15
1943
Department Circular No. 720
Fiscal Service
Bureau of the Public Debt
TREASURY
DEPARTMENT,
OFFICE OF THE
SECRETARY,
Washington, September 9, 1943.
I. O F F E R I N G O F B O N D S
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 bonds of the United States, designated 2 percent Treasury Bonds of 1951-53. These bonds will
not be available for subscription, for their own account, by commercial banks, which are defined for
this purpose as banks accepting demand deposits. The amount of the offering is not specifically
limited.
II. D E S C R I P T I O N OF B O N D S
1. The bonds will be dated September 15, 1943, and will bear interest from that date at the rate
of 2 percent per annum, payable semiannually on March 15 and September 15 in each year until
the principal amount becomes payable. They will mature September 15, 1953, but may be redeemed
at the option of the United States on and after September 15, 1951, in whole or in part, at
par and accrued interest, on any interest day or days, on 4 months' notice of redemption given in
such manner as the Secretary of the Treasury shall prescribe. In case of partial redemption the
bonds to be redeemed will be determined by such method as may be prescribed by the Secretary of
the Treasury. From the date of redemption designated in any such notice, interest on the bonds
called for redemption shall cease.
2. The income derived from the bonds shall be subject to all Federal taxes, now or hereafter
imposed. The bonds 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 bonds will be acceptable to secure deposits of public moneys. They will not be entitled
to any privilege of conversion.
4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $500, $1,000, $5,000, $10,000, $100,000 and $1,000,000.
Provision will be made for the interchange of bonds of different denominations and of coupon and
registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by
the Secretary of the Treasury.
5. The bonds will be subject to the general regulations of the Treasury Department, now or
hereafter prescribed, governing United States bonds.
III. S U B S C R I P T I O N A N D A L L O T M E N T
1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury Department, Washington. An offering of securities of identical or similar tenor to those offered
by this circular will be made for the exclusive subscription of commercial banks shortly after the
conclusion of this offering. Until such offering has been made and the books thereon closed, or until
ten days after the subscription books close on this offering, whichever is earlier, commercial banks
are requested not to purchase and subscribers are requested not to trade in the securities offered by
Page 7
this circular. 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 must be accompanied by payment in full for the amount of bonds 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 bonds 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, all subscriptions will be allotted in full. Allotment notices will be sent
out promptly upon allotment.
IV.
PAYMENT
1. Payment at par and accrued interest, if any, for bonds allotted hereunder must be made on or
before September 15, 1943, or on later allotment; provided, however, that bonds allotted to life insurance companies may be paid for, in whole or in part, at par and accrued interest, at any time or
times not later than November 1, 1943. One day's accrued interest is $0,055 per $1,000. Any qualified depositary will he permitted to make payment by credit for bonds allotted to its customers up to
any amount for which it shall be qualified in excess of existing deposits, when so notified by the
Federal Reserve Bank of its District.
V. G E N E R A L P R O V I S I O N S
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 bonds allotted, to make delivery of bonds on full-paid subscriptions
allotted, and they may issue interim receipts pending delivery of the definitive bonds.
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.
Page 8
UNITED STATES OF AMERICA
% PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES E-1944
Due September 1, 1944
Dated and bearing interest from September 15, 1943
1943
Department Circular No. 721
TREASURY
DEPARTMENT,
OFFICE OF THE
Fiscal Service
Bureau of the Public Debt
SECRETARY,
Washington, September 9,1943.
I.
OFFERING
OF
CERTIFICATES
1. The Secretary of the Treasury, pursuant to the authority of the Second Libert}'- 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 E - 1 9 4 4 . These certificates will not be available for subscription, for their
own account, by commercial banks, which are defined for this purpose as banks accepting demand
deposits. The amount of the offering is not specifically limited.
II.
DESCRIPTION
OF
CERTIFICATES
1. The certificates will be dated September 15, 1943, and will bear interest from that date at
the rate of % percent per annum, payable on a semiannual basis on March 1 and September 1, 1944.
They will mature September 1, 1944, 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.
acceptable in payment of taxes.
4.
They will not be
Bearer certificates with interest coupons attached will be issued in denominations of $ 1 , 0 0 0 ,
and $ 1 , 0 0 0 , 0 0 0 . The certificates will not be issued in registered form.
$5,000, $10,000, $100,000
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. An offering of securities of identical or similar tenor to those offered
by this circular will be made for the exclusive subscription of commercial banks shortly after the
conclusion of this offering. Until such offering has been made and the books thereon closed, or until
ten days after the subscription books close on this offering, whichever is earlier, commercial banks
are requested not to purchase and subscribers are requested not to trade in the securities offered by
this circular. 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 must be accompanied by payment in full for the amount of certificates
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 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, all subscriptions will be allotted in full. Allotment notices will be sent
out promptly upon allotment.
Page 9
IV.
PAYMENT
1. Payment at par and accrued interest, if any, for certificates allotted hereunder must be made
on or before September 15,1943, or on later allotment. One day's accrued interest is $0,024 per $1,000.
Any qualified depositary will be permitted to make payment by credit for certificates allotted to its
customers up to any amount for which it shall be qualified in excess of existing deposits, when so
notified by the Federal Reserve Bank of its District.
V. G E N E R A L
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, JR.,
Secretary of the Treasury.
Page 10
G.
B. 419
THIRD WAR LOAN DRIVE
REQUISITION FOR FORMS
(Date)
FEDERAL
RESERVE
BANK
OF
NEW
1943
YORK,
Fiscal Agent of the United States,
Federal Reserve P. O. Station,
New York 7, N. Y.
Attention: Government Bond Department
Gentlemen:
Please send us supplies of the following forms in the quantities indicated:
Quantity
Form No.
Description
1
Cash Subscription for 2 l /2% Treasury Bonds of 1964-69 — Coupon Form.
2
Cash Subscription for 2y 2 % Treasury Bonds of 1964-69 — Registered Form.
3
Cash Subscription for 2°/c Treasury Bonds of 1951-53 — Coupon Form.
4
Cash Subscription for 2% Treasury Bonds of 1951-53 — Registered Form.
5
Cash Subscription for % % Treasury Certificates of Indebtedness of Series E-1944.
G. B. 338
Application for United States War Savings Bonds, Series E.
G. B. 339
Application for United States Savings Bonds, Series F.
G. B. 340
Application for United States Savings Bonds, Series G.
G. B. 401
Application for Treasury Savings Notes, Series C.
G. B. 345
Certificate of Advice of Credit to War Loan Deposit Account in Payment for
United States Savings Bonds (For Qualified Depositaries Only).
G. B. 352
Certificate of Advice of Credit to War Loan Deposit Account in Payment for
Treasury Savings Notes, Series C (For Qualified Depositaries Only).
(Name of Banking Institution)
By
Street Address
(City, Town or Village, P. O. No., and State)
(PURPLE C O D E )
2V2%
FORM NO. 1
Application No.
IN COUPON FORM
(Subscription for registered bonds of this issue should be submitted on Form No. 2)
BANKS
WHICH
ACCEPT
DEMAND
DEPOSITS
TO THESE BONDS FOR THEIR
MAY
OWN
NOT
SUBSCRIBE
ACCOUNT
CASH SUBSCRIPTION
UNITED STATES OF AMERICA 2 y 2 % TREASURY BONDS OF 1964-69
DATED SEPTEMBER 15, 1943
DUE DECEMBER 15, 1969
FEDERAL RESERVE BANK OF NEW YORK,
Dated at
Fiscal Agent of the United States,
1943.
Government Bond Department—1st Floor:
Pursuant to the provisions of Treasury Department Circular No. 719, dated September 9, 1943, please enter subscription for 2Y2% Treasury Bonds of 1964-69, in coupon form in face amount as follows:
For own account.
Banks which accept demand deposits )
{may
not subscribe for own account. )
For customers
fList of customers, whose applications are included in]
J this subscription, must be entered on reverse side. Sub| scriptions by securities dealers and brokers for account of I
[customers must be entered through banking institutions.]
Total subscription... $.
Classification of subscriptions for computation of interest accrual:
Aggregate
Subscriptions of $500 and $1,000. No accrued interest
Subscriptions of $1,500 and over. One day's accrued interest is
$0,068 per $1,000
Accrued
Face Amount
Interest
Total
NONE
$
$
:
Full amount of payment
$
# Interest must be computed from September 15, 1943 to date funds will be available to Federal Reserve Bank.
•
•
Payment in full for such securities is made as indicated below:
•
By credit to our War Loan Deposit Account (For use of
By check and/or cash herewith
qualified depositaries only). The election to pay by credit
will be deemed a certification by the officer who signs this subscription form that the full amount of payment due on this
subscription has been deposited on the date hereof 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.f
By charge to our Reserve Account which is hereby
authorized. (For use of member banks only)
Please issue and dispose of bonds as follows:
DENOMINATIONS
or
COUPON
Leave Blank
Face Amount
Pieces
$
DISPOSITION
BONDS
500
1,000
1. Deliver over the counter to undersigned (
)
2. Mail to undersigned
)
(
3. Special Instructions:
5,000
10,000
100,000
1,000,000
Total
1
I M P O R T A N T : No changes in delivery instructions will be accepted.
A separate subscription must be submitted for each group of securities
as to which different delivery instructions are given.
TO SUBSCRIBER:
Name of subscriber.
Please indicate whether this is:
Original subscription
•
Confirmation of a telegram
•
Confirmation of a letter
Q
By
Typewrite or print
Official signature required
Title
City, Town or Village, P. O. No., and State.
DO NOT BSE SPACES BELOW
SUBSCRIPTION
Delivery Receipt
RECORD
Received from F E D E R A L R E S E R V E B A N K OP N E W Y O R K the above described
United States Government obligations in the amount indicated above.
EXAMINED
• PAYMENT
RECEIVED
CARDED
Subscriber
Date.
RELEASED
Taken from Vault
Counted
By.
Checked
Delivered
t 2l/z % Treasury Bonds of 1964-69, dated September IS, 1943, may not be deposited with the Federal Reserve Bank as collateral for
War Loan Deposit Account before September 15, 1953.
List of customers, whose applications for coupon bonds are included in the foregoing subscription, entered and certified by
(Name of banking institution)
Post office address
State.
Credit for the sales listed below will normally be given to the counties indicated by the addresses of the purchasers,
except that a subscription entered by a banking institution in New York City for account of a nonbanking corporation
other than an insurance company will be credited to the county in which such banking institution is located. If a purchaser so desires, credit may be given, subject to the following limitations, to a county or counties other than the
county to which credit would normally be given: (1) this form should be accompanied by a separate letter setting
forth the name and address of the purchaser and the total amount of his subscription, and listing the allocations desired,
by city or county, state and amount; (2) not less than $50,000 may be allocated to any one county; and (3) no allocation
may be made in respect of a purchase by an insurance company.
Name of Cuslomer
Do not use
this space
(Please print or use typewriter)
Address
Amount Subscribed
FORM N O .
2V2%
2
(PURPLE CODE)
Application No.
IN REGISTERED FORM
(Subscription for coupon bonds of this issue should be submitted on Form No. 1)
BANKS WHICH ACCEPT DEMAND DEPOSITS MAY NOT SUBSCRIBE
TO THESE BONDS FOR THEIR OWN ACCOUNT
CASH SUBSCRIPTION
UNITED STATES OF AMERICA 2 % % TREASURY BONDS OF 1964-69
DATED SEPTEMBER 15, 1943
DUE DECEMBER 15, 1969
Dated at..
FEDERAL RESERVE BANK OP NEW YORK,
Fiscal Agent of the United States,
Government Bond Department—1st Floor:
1943.
Pursuant to the provisions of Treasury Department Circular No. 719, dated September 9, 1943, please enter subscription for 2i/ 2 % Treasury Bonds of 1964-69, in registered form in face amount as follows:
( Banks which accept demand deposits |
I may not subscribe for own account, j
For own account.
F o r customers
$
Total subscription
i Subscriptions by securities dealers and brokers for account \
I of customers must be entered through banking institutions. J
$
Classification of subscriptions for computation of interest accrual:
Aggregate
Subscriptions of $500 and $1,000.
Subscriptions of $1,500 and over.
$0,068 per $1,000
No accrued interest
One day's accrued interest is
Face Amount
Accrued
$
$
$
$.
Interest
Total
NONE
Full amount of payment.
* Interest must be computed from September 15, 1943 to date funds will be available to Federal Reserve Bank.
•
•
Payment in full for such securities is made as indicated below:
•
By credit to our War Loan Deposit Account (For use of
By check and/or cash herewith
qualified depositaries only). The election to pay by credit
will be deemed a certification by the officer who signs this subscription form that the full amount of payment due on this
subscription has been deposited on the date hereof 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, f
By charge to our Reserve Account which is hereby
authorized. (For use of member banks only)
Please inscribe bonds as indicated on the reverse side of this form, and deliver as follows:
Deliver over the counter to undersigned
(
)
Mail to undersigned
(
)
Mail to registered owner (s)
(
)
Special Instructions:
IMPORTANT:
No changes in delivery instructions will be accepted.
A separate subscription must be submitted for each group of securities as to which different delivery instructions
are given.
TO
SUBSCRIBER:
Name of subscriber.
Please indicate whether this is:
\
Original subscription
•
Confirmation of a telegram
•
Confirmation of a letter
•
By
AYMENT
RECEIVED
Official signature required
NOT
USE
SPACES
B E L O W
Delivery Receipt
RECORD
Received from F E D E R A L R E S E R V E B A N K OF N E W Y O R K the above described
United States Government obligations in the amount indicated abov«.
EXAMINED
CARDED
Subscriber
Date.
RELEASED
Taken from Vault
Title
City, Town or Village, P. O. No., and State.
DO
SUBSCRIPTION
Typewrite or print
Counted
By.
Checked
Delivered
1 2 V2 % Treasury Bonds of 1964-69, dated September 15, 1943, may not be deposited with the Federal Reserve Bank as collateral for
/ar Loan Deposit Account before September 15, 1953.
SCHEDULE FOR ISSUE OF REGISTERED BONDS
USl^ Names and addresses must be printed or typewritten.
Credit for the sales listed below will normally be given to the counties indicated by the addresses of the purchasers,
except that a subscription entered by a banking institution in New York City for account of a nonbanking corporation
other than an insurance company will be credited to the county in which such banking institution is located. If a purchaser so desires, credit may be given, subject to the following limitations, to a county or counties other than the
county to which credit would normally be given: (1) this form should be accompanied by a separate letter setting
forth the name and address of the purchaser and the total amount of his subscription, and listing the allocations desired
by city or county, state and amount; (2) not less than $50,000 may be allocated to any one county; and (3) no allocation
may be made in respect of a purchase by an insurance company.
Do not
use thia
spaca
Indicate under appropriate denominations, number of bonds desired.
Nam* in which bond of this issue shall be registered, and postoffice address for interest checks and mail.
Amount
$500
$1,000
$5,000
•
$10,000
$100 000 $i,ooo,ooc
C%(j7
• ORM
N O
(GREEN C O D E )
Application No.
3
IN COUPON FORM
(Subscription for registered bonds of this issue should be submitted 011 Form No. 4)
BANKS WHICH ACCEPT DEMAND DEPOSITS
M A Y NOT SUBSCRIBE TO THESE BONDS
THEIR OWN ACCOUNT DURING THE THIRD W A R
LOAN
FOR
DRIVE
CASH SUBSCRIPTION
UNITED STATES OF AMERICA 2 % TREASURY BONDS OF 1951-53
DATED SEPTEMBER 15, 1943
DUE SEPTEMBER 15, 1953
FEDERAL RESERVE BANK OP NEW YORK,
Dated a t . .
Fiscal Agent of the United States,
Government Bond Department—1st Floor:
,1943
Pursuant to the provisions of Treasury Department Circular No. 720, dated September 9, 1943, please enter subscrip;ion for 2°/o Treasury Bonds of 1951-53, in coupon form in face amount as follows:
For own account
$
•
a n k s ThiCu a c ^ p t / e m a n d de P osit s I
(I Bmay
not subscribe for own account, j
fList of customers, whose applications are included in]
j this subscription, must be entered on reverse side. Sub-1
| scriptions by securities dealers and brokers for account of I
[customers must be entered through banking institutions. J
For customers
Total subscription.. . $.
Classification of subscriptions for computation of interest accrual:
Aggregate
Face Amount
Accrued
Interest
Total
NONE
Subscriptions of $500 arid $1,000. No accrued interest
$
Subscriptions of $1,500 and over. One day's accrued interest is
$0,055 per $1,000
$
$*
$.
$-
Pull amount of payment
$
* Interest must be computed from September 15, 1943 to date funds will be available to Federal Reserve Bank.
•
•
Payment in full for such securities is made as indicated below:
•
By credit to our War Loan Deposit Account (For use of
By check and/or cash herewith
qualified depositaries only). The election to pay by credit
will be deemed a certification by the officer who signs this subscription form that the full amount of payment due on this
subscription has been deposited on the date hereof 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.
By charge to our Reserve Account which is hereby
authorized. (For use of member banks only)
Please issue and dispose of bonds as follows:
DENOMINATIONS OF COUPON BONDS
Face Amount
Pieces
DISPOSITION
Leave Blank
500
1. Deliver over the counter to undersigned (
)
1,000
2. Mail to undersigned
(
)
5,000
3. Hold as collateral for War Loan
deposits
(
)
10,000
The undersigned, if a qualified depositary, hereby
certifies that the securities which you are hereby or
hereafter instructed to dispose of in the manner indicated in item numbered 3 are the property of its customers who have authorized in writing such disposition.
100,000
1,000,000
Total
4. Special Instructions:
IMPORTANT: No changes in delivery instructions will be accepted.
A separate subscription must be submitted for each group of securities
s to which different delivery instructions are given.
V SUBSCRIBER:
'lease indicate whether this is:
Original subscription
•
Confirmation of a telegram
Confirmation of a letter
•
•
Name of subscriber.
By
Typewrite or print
Title
Official signature required
City, Town or Village, P. O. No., and State.
DO NOT USE SPACES BELOW
Delivery Receipt
SUBSCRIPTION RECORD
'MENT RECEIVED
Received from FEDERAL RESERVE BANK OF NEW YORK the above described
United States Government obligations in the amount indicated above.
EXAMINED
Subscriber
CARDED
Date.
RELEASED
Taken from Vault
Counted
By.
Checked
Delivered
List of customers, whose applications for coupon bonds are included in the foregoing subscription, entered and certified by
(Name of Banking Institution)
Post office address
State.
Credit for the sales listed below will normally be given to the counties indicated by the addresses of the purchasers,
except that a subscription entered by a banking institution in New York City for account of a nonbanking corporation
other than an insurance company will be credited to the county in which such banking institution is located. If a purchaser so desires, credit may be given, subject to the following limitations, to a county or counties other than the
county to which credit would normally be given: (1) this form should be accompanied by a separate letter setting
forth the name and address of the purchaser and the total amount of his subscription, and listing the allocations desired
by city or county, state and amount; (2) not less than $50,000 may be allocated to any one county; and (3) no allocation
may be made in respect of a purchase by an insurance company.
Name of Customer
Do not use
this space
(Please Print or use typewriter)
Address
Amount Subscribed
FORM NO.
(GREEN CODE)
2 %
4
Application No.
IN REGISTERED FORM
(Subscription for coupon bonds of this issue should be submitted on Form No. 3)
BANKS W H I C H ACCEPT DEMAND DEPOSITS
M A Y NOT SUBSCRIBE TO THESE BONDS
THEIR OWN ACCOUNT DURING THE THIRD W A R
LOAN
FOR
DRIVE
CASH SUBSCRIPTION
UNITED STATES OF AMERICA 2 % TREASURY BONDS OF 1951-53
DATED SEPTEMBER 15, 1943
DUE SEPTEMBER 15, 1953
Dated at.
1943
FEDERAL. RESERVE BANK OP NEW YORK,
Fiscal Agent of the United States,
Government Bond Department—1st Floor:
Pursuant to the provisions of Treasury Department Circular No. 720, dated September 9, 1943, please enter subscription for 2% Treasury Bonds of 1951-53, in registered form in face amount as follows:
For own account.
( Banks which accept demand deposits )
\ may not subscribe for own account. j
For customers . . .
( Subscriptions by securities dealers and brokers for account )
I of customers must be entered through banking institutions, j
Total subscription.
Classification of subscriptions for computation of interest accrual:
Aggregate
Face Amount
Subscriptions of $500 and $1,000. No accrued interest
Subscriptions of $1,500 and over. One day's accrued interest is
$0,055 per $1,000
Accrued
Interest
Total
NONE
Full amount of payment
$
* Interest must be computed from September 15, 1943 to date funds will be available to Federal Reserve Bank.
•
Payment in full for such securities is made as indicated below:
•
By credit to our War Loan Deposit Account (For use of
By check and/or cash herewith
qualified depositaries only). The election to pay by credit
, , - r , ,
•
,
.
will be deemed a certification by the officer who signs this subscription form that the full amount of payment due on this
. i - i - i i
B y charge to our Reserve Account which IS hereby
authorized.
subscription has been deposited on the date hereof to the credit
( F o r use o f m e m b e r b a n k s o n l y )
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.
of the
Please inscribe bonds as indicated on the reverse side of this form, and deliver as follows:
Deliver over the counter to undersigned
(
)
Mail to undersigned
(
)
Mail to registered owner (s)
(
)
Special Instructions:
IMPORTANT:
No changes in delivery instructions will be accepted.
A separate subscription must be submitted for each group of securities as to which different delivery instructions
are given.
TO SUBSCRIBER:
Name of subscriber.
Please indicate whether this is:
Original subscription
•
Confirmation of a telegram
•
Confirmation of a letter
Q
By
Typewrite or print
Official signature required
Title
City, Town or Village, P. O. No., and State...
DO NOT USE SPACES BELOW
SUBSCRIPTION
A Y M E N T RECEIVED
Delivery Receipt
RECOBD
Received from F E D E R A L R E S E R V E B A N K OF N E W Y O R K the above described
United States Government obligations in the amount indicated above.
EXAMINED
CARDED
Subscriber
Date.
RELEASED
Taken from Vault
Counted
By.
Checked
Delivered
SCHEDULE FOR ISSUE OF REGISTERED BONDS
Names and addresses must be printed or typewritten.
Credit for the sales listed below will normally be given to the counties indicated by the addresses of the purchasers,
except that a subscription entered by a banking institution in New York City for account of a nonbanking corporation
other than an insurance company will be credited to the county in which such banking institution is located. If a purchaser so desires, credit may be given, subject to the following limitations, to a county or counties other than the
county to which credit would normally be given: (1) this form should be accompanied by a separate letter setting
forth the name and address of the purchaser and the total amount of his subscription, and listing the allocations desired,
by city or county, state and amount; (2) not less than $50,000 may be allocated to any one county; and (3) no allocation
may be made in respect of a purchase by an insurance company.
Do not
use this
space
Indicate under appropriate denominations, number of bonds desired.
Name in which bond of this issue shall be registered, and postoffice address for interest checks and mail.
Amount
$500
$1,000
$5,000
$10,000
$100,000 $1,000,000
(PINK C O D E )
FORM NO.
/ s %
CERTIFICATES OF INDEBTEDNESS
5
Application No.
7
BANKS W H I C H ACCEPT D E M A N D DEPOSITS M A Y N O T SUBSCRIBE TO THESE
FOR THEIR OWN ACCOUNT DURING THE THIRD W A R
LOAN
CERTIFICATES
DRIVE
CASH SUBSCRIPTION
UNITED STATES OF AMERICA
% % TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES E-1944
DATED SEPTEMBER 15, 1943
DUE SEPTEMBER 1, 1944
FEDERAL RESERVE BANK OF NEW YORK,
Dated at.
Fiscal Agent of the United States,
1943
Government Bond Department—1st Floor:
Pursuant to the provisions of Treasury Department Circular No. 721, dated September 9, 1943, please enter subscription for % % Treasury Certificates of Indebtedness of Series E-1944, in face amount as follows:
f Banks which accept demand deposits \
I may not subscribe for own account, j
fList of customers, whose applications are included in"]
J this subscription, must be entered on reverse side. Sub-1
| scriptions by securities dealers and brokers for account of I
[customers must be entered through banking institutions. J
For own account.
For customers
Total subscription... $.
Computation of interest accrual:
(Interest must be computed from September 15, 1943 to date funds will be available to the Federal Reserve Bank.
interest is $0,024 per $1,000.)
One day's accrued
Aggregate face amount . .
Accrued interest
Full amount of payment.
•
•
Payment in full for such securities is made as indicated below:
•
By credit to our War Loan Deposit Account (For use of
By check and/or cash herewith
qualified depositaries only). The election to pay by credit
will be deemed a certification by the officer who signs this subscription form that the full amount of payment due on this
subscription has been deposited on the date hereof 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.
By charge to our Reserve Account which is hereby
authorized. (For use of member banks only)
Please issue and dispose of certificates as follows:
DENOMINATIONS
Pieces
DISPOSITION
Face Amount
$
Leave Blank
1,000
5,000
1. Deliver over the counter to undersigned
(
)
2
(
)
(
)
3. Hold as collateral for War Loan
deposits
10,000
The undersigned, if a qualified depositary, hereby
certifies that the securities which you are hereby or
hereafter instructed to dispose of in the manner indicated in item numbered 3 are the property of its customers who have authorized in writing such disposition.
100,000
1,000,000
Total
I M P O R T A N T : No changes in delivery instructions will b e accepted.
A separate subscription must be submitted f o r each group of securities
as to which different delivery instructions are given.
\
Mail to undersigned
SUBSCRIBER:
4. Special Instructions:
Name of subscriber.
Typewrite or print
?lease indicate whether this is:
Original subscription
•
Confirmation of a telegram
•
Confirmation of a letter
•
By
Title
Official signature required
City, Town or Village, P. O. No-, and State.
DO NOT USE SPACES BELOW
SUBSCRIPTION
S T U K N T RECEIVED
Taken from Vault
Delivery Receipt
RECORD
ET41FTN*D
, r
Counted
-
Received from FEDERAL RESERVE B A N K or N E W Y O R K the above described
United States Government obligations in the amount indicated above.
Checked
Delivered
List of customers, whose applications for securities are included in the foregoing subscription, entered and certified by
(Name of banking institution)
Post office address
State.
Credit for the sales listed below will normally be given to the counties indicated by the addresses of the purchasers,
except that a subscription entered by a banking institution in New York City for account of a nonbanking corporation
other than an insurance company will be credited to the county in which such banking institution is located. If a purchaser so desires, credit may be given, subject to the following limitations, to a county or counties other than the
county to which credit would normally be given: (1) this form should be accompanied by a separate letter setting
forth the name and address of the purchaser and the total amount of his subscription, and listing the allocations desired,
by city or county, state and amount; (2) not less than $50,000 may be allocated to any one county; and (3) no allocation
may be made in respect of a purchase by an insurance company.
Name of Customer
Do not use
this space
(Please print or use typewriter)
Address
Amount Subscribed
TB-BC: 1-2
ACKNOWLEDGMENT
FEDERAL R E S E R V E BANK
OF NEW YORK
OF
ADVICE OF CREDIT TO W A R LOAN DEPOSIT ACCOUNT
APPLICATION NO.
r
J
v..
In accordance with your certification we have this day entered in "War Loan Deposit Account"
the amount indicated above in payment of allotment of
$
2y 2 Percent Treasury Bonds of 1964-69
Dated September 15, 1943,
Due December 15, 1969.
FEDERAL RESERVE B A N K OF N E W Y O R K
Fiscal A g e n t of the United States
TB B C : 1-2
BOOK CREDIT PAYMENT
FEDERAL RESERVE BANK
OF NEW YORK
APPLICATION NO.
DATE
In accordance with your certification we have this day entered in "War Loan Deposit Account"
the amount indicated above in payment of allotment of
$
2y2 Percent Treasury Bonds of 1964-69
Dated September 15, 1943,
Due December 15, 1969.
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
T B : 1-2
ADVICE TO
ORIGINAL
SUBSCRIBER
APPLICATION NO.
J
Payment Amount
Your subscription for $
U N I T E D STATES OF A M E R I C A 2 y 2 PERCENT TREASURY BONDS OF 1 9 6 4 - 6 9 ,
dated September 15, 1943, due December 15, 1969, has been received by this bank, as fiscal agent of the United States,
and, pursuant to the terms of Treasury Department Circular No. 719, dated September 9, 1943, the amount subscribed
for by you has been allotted to you in full.
Registered bonds will not be available for delivery until after the registration has been completed by the Treasury
Department, Washington, D. C., at which time they will be disposed of in accordance with your original instructions.
Payment of the bonds subscribed for has been made in the manner indicated below:
DISPOSITION
•
•
•
•
Over the Counter
Mail
Registered Bonds
Special instructions
By check and/or cash
By authority to charge your reserve account
B y e n t r y m W a r U x L n D e p o s i t Account
Certificates
in coupon form will be available
f o r delivery on
$
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
TB : 1-2
PAYMENT
DUPLICATE
TICKET
APPLICATION NO.
"A
J
V.
Payment Amount
Your subscription for $
U N I T E D STATES OF A M E R I C A I Y 2 PERCENT TREASURY BONDS OF 1 9 6 4 - 6 9 ,
elated September 15, 1943, due December 15, 1969, has been received by this bank, as fiscal agent of the United States,
and, pursuant to the terms of Treasury Department Circular No. 719, dated September 9, 1943, the amount subscribed
for by you has been allotted to you in full.
Registered bonds will not be available for delivery until after the registration has been completed by the Treasury
Department, Washington, D. C., at which time they will be disposed of in accordance with your original instructions.
Payment of the bonds subscribed for has been made in the manner indicated below:
DISPOSITION
,
,
•
Over the Counter
By check and/or cash
•
Mail
By authority to charge your reserve account
•
•
Registered Bonds
Special instructions
By entry in War Loan Deposit Account
Certificates
in coupon form will be available
f o r delivery on
$
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
T B : 1-2
PENDING
TRIPLICATE
TICKET
APPLICATION NO.
J
Payment Amount
Your subscription for $
U N I T E D STATES OF A M E R I C A 2x/2 PERCENT TREASURY BONDS OF 1 9 6 4 - 6 9 ,
dated September 15, 1943, due December 15, 1969, has been received by this bank, as fiscal agent of the United States,
and, pursuant to the terms of Treasury Department Circular No. 719, dated September 9. 1943, the amount subscribed
for by you has been allotted to you in full.
Registered bonds will not be available for delivery until after the registration has been completed by the Treasury
Department, Washington, D. C., at which time they will be disposed of in accordance with your original instructions.
Payment of the bonds subscribed for has been made in the manner indicated below:
DISPOSITION
•
Over the Counter
By check and/or cash
•
Mail
By authority to charge your reserve account
•
•
Registered
Bonds
Special instructions
B y entry in W a r
Certificates
in coupon form will be available
f o r delivery on
L o a n D e p osit
$
Account
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
TB-BC: 3-4
ACKNOWLEDGMENT
FEDERAL RESERVE BANK
OF NEW YORK
OF
ADVICE OF CREDIT TO W A R LOAN DEPOSIT ACCOUNT
APPLICATION NO.
r
J
In accordance with your certification we have this day entered in "War Loan Deposit Account"
the amount indicated above in payment of allotment of
$
2 Percent Treasury Bonds of 1951-53
Dated September 15, 1943,
Due September 15, 1953.
FEDERAL RESERVE B A N K OF N E W
YORK
F i s c a l A g e n t o f the U n i t e d States
T B - B C : 3-4
BOOK CREDIT PAYMENT
FEDERAL R E S E R V E BANK
OF NEW YORK
APPLICATION NO.
DATE
In accordance with your certification we have this day entered in "War Loan Deposit Account"
the amount indicated above in payment of allotment of
$
2 Percent Treasury Bonds of 1951-53
Dated September 15, 1943,
Due September 15, 1953.
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
T B : 3-4
ADVICE TO
ORIGINAL
SUBSCRIBER
APPLICATION NO.
r
j
Payment Amount
Your subscription for $
U N I T E D STATES OF A M E R I C A 2 PERCENT TREASURY BONDS OF 1951-53,
dated September 15, 1943, due September 15, 1953, has been received by this bank, as fiscal agent of the United States,
and, pursuant to the terms of Treasury Department Circular No. 720, dated September 9, 1943, the amount subscribed
for by you has been allotted to you in full.
Registered bonds will not be available for delivery until after the registration has been completed by the Treasury
Department, Washington, D. C., at which time they will be disposed of in accordance with your original instructions.
Payment of the bonds subscribed for has been made in the manner indicated below:
DISPOSITION
•
•
•
•
Over the Counter
Mail
Registered Bonds
Special instructions
check and/or cash
By authority to charge your reserve account
B y e n t r y i n W a r L o a n D e p osit Account
Certificates
in coupon form will be available
f o r delivery on
$
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
TB : 3-4
PAYMENT
DUPLICATE
TICKET
APPLICATION NO.
r
Payment Amount
Your subscription for $
U N I T E D STATES OF A M E R I C A 2 PERCENT TREASURY BONDS OF 1 9 5 1 - 5 3 ,
dated September 15, 1943, due September 15, 1953, has been received by this bank, as fiscal agent of the United States,
and, pursuant to the terms of Treasury Department Circular No. 720, dated September 9, 1943, the amount subscribed
for by you has been allotted to you in full.
Registered bonds will not be available for delivery until after the registration has been completed by the Treasury
Department, Washington, D. C., at which time they will be disposed of in accordance with your original instructions.
Payment of the bonds subscribed for has been made in the manner indicated below:
DISPOSITION
•
•
•
•
Over the Counter
Mail
Registered Bonds
Special instructions
By check and/or cash
By authority to charge your reserve account
By entry in War Loan Deposit Account
in coupon f o r m will be available
Digitized Certificates
for FRASER
http://fraser.stlouisfed.org/
f o r delivery on
Federal Reserve Bank of St. Louis
.
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
TB: 3-4
PENDING
TRIPLICATE
TICKET
APPLICATION NO.
DATE
J
Payment Amount
Your subscription for $
U N I T E D STATES OF A M E R I C A 2 PERCENT TREASURY BONDS OF 1 9 5 1 - 5 3 ,
dated September 15, 1943, due September 15, 1953, has been received by this bank, as fiscal agent of the United States,
and, pursuant to the terms of Treasury Department Circular No. 720, dated September 9, 1943, the amount subscribed
for by you has been allotted to you in full.
Registered bonds will not be available for delivery until after the registration has been completed by the Treasury
Department, Washington, D. C., at which time they will be disposed of in accordance with your original instructions.
Payment of the bonds subscribed for has been made in the manner indicated below:
DISPOSITION
•
•
•
•
Over the Counter
Mail
Registered Bonds
Special instructions
By check and/or cash
By authority to charge your reserve account
By entry in War Loan Deposit Account
in coupon f o r m will be available
DigitizedCertificates
for FRASER
http://fraser.stlouisfed.org/
f o r delivery on
Federal Reserve Bank of St. Louis
.
FEDERAL RESERVE B A N K OF N E W Y O R K
Fiscal Agent of the United States
(Teller)
CI-BC: 5
ACKNOWLEDGMENT
FEDERAL. R E S E R V E BANK
OF NEW YORK
OF
ADVICE OF CREDIT TO W A R LOAN DEPOSIT ACCOUNT
APPLICATION NO.
DATE
In accordance with your certification we have this day entered in " W a r Loan Deposit Account"
the amount indicated above in payment of allotment of
$
7/z Percent Treasury Certificates of Indebtedness of Series E-1944,
Dated September 15, 1943,
Due September 1, 1944.
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
CI-BC: S
BOOK CREDIT PAYMENT
F E D E R A L R E S E R V E BANK
OF NEW YORK
APPLICATION NO.
DATE
In accordance with your certification we have this day entered in "War Loan Deposit Account"
the amount indicated above in payment of allotment of
$
Percent Treasury Certificates of Indebtedness of Series E-1944,
Dated September 15, 1943,
Due September 1, 1944.
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
:5
ADVICE TO
ORIGINAL
SUBSCRIBER
APPLICATION NO.
J
Your subscription for $
U N I T E D STATES OF A M E R I C A
Payment Amount
PERCENT TREASURY CERTIFICATES OF
dated September 1 5 , 1 9 4 3 , due September 1, 1 9 4 4 , has been received by this bank, as fiscal
agent of the United States, and, pursuant to the terms of Treasury Department Circular No. 721, dated September 9,
1943, the amount subscribed for by you has been allotted to you in full.
INDEBTEDNESS OF SERIES E - 1 9 4 4 ,
Payment for such certificates has been made in the manner indicated below:
DISPOSITION
•
•
Over the Counter
Mail
•
Special instructions
By check and/or cash
By authority to charge your reserve account
By entry in War Loan Deposit Account
in coupon f o r m will be available
Digitized for Certificates
FRASER
http://fraser.stlouisfed.org/
f o r delivery on
Federal Reserve Bank of St. Louis
.
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
CI: 5
PAYMENT
DUPLICATE
TICKET
APPLICATION NO.
r
DATE
J
Payment Amount
Your subscription for $
U N I T E D S T A T E S OF A M E R I C A % PERCENT TREASURY CERTIFICATES OF
E-1944, dated September 15, 1943, clue September 1, 1944, has been received by this bank, as fiscal
agent of the United States, and, pursuant to the terms of Treasury Department Circular No. 721, dated September 9,
1943, the amount subscribed for by you has been allotted to you in full.
INDEBTEDNESS OF SERIES
Payment for such certificates has been made in the manner indicated below:
DISPOSITION
By check and/or cash
•
Over the Counter
•
Mail
By authority to charge your reserve account
•
Special instructions
By entry in War Loan Deposit Account
Certificates in coupon f o r m will be available
http://fraser.stlouisfed.org/
f o r delivery on
Federal Reserve Bank of St. Louis
.
FEDERAL RESERVE B A N K OF N E W
YORK
Fiscal Agent of the United States
(Teller)
F. R. B. Form No. C.B. 3 39.2
ORIGINAL
T o be forwarded to Federal Reserve
Bank of New York accompanied by
remittance covering cost of bonds.
Application for
UNITED STATES WAR SAVINGS BONDS—SERIES F
( 1 2 - Y E A R APPRECIATION
BONDS)
The undersigned hereby applies for United States War Savings Bonds
of Series F (issued pursuant to Treasury Department Circular No. 654,
Revised, dated June 1, 1942) as follows:
Number
of bonds
Denomination
(Maturity Value)
Issue Price
(Each bond)
$25 . . . .
Amount
(Total Cost)
$18.50
•
$
$74 . .
•
$
$500 . . . .
$370 . .
•
$...•
.
$1,000 . . . .
$740 . .
•
$
.
$5,000 . . . . $3,700 . .
•
$
. $10,000 . . . . $7,400 . .
•
$
Total amount of purchase . .
.
$
$100 . .
Bonds to be inscribed (see other side) (Please print or write legibly) :
Bonds will be forwarded by registered mail to the address shown above
unless otherwise instructed.
Other instructions, if any
Application forwarded by
(Name of agency)
(Signature of purchaser)
(Address of agency)
(Addreis)
Date
http://fraser.stlouisfed.org/
G.B. 339.2 200M-7-42
Federal
Reserve Bank of St. Louis
194
INSTRUCTIONS
Complete information and permissible forms of registration will be
found in Treasury Department Circular No. 530, Fifth Revision.
Strict compliance with the terms of the circular will avoid delay in
issuing bonds.
For the general guidance of issuing agents accepting orders, United
States War Savings Bonds of Series F may be registered as follows:
(1) In the names of natural persons (that is, individuals), in their own right, as
follows:
(a) In the name of one person;
(b) In the names of two (but not more than two) persons in the alternative as
coowners; or
(c) In the name of one person payable on death to one (but not more than one)
designated person.
(2) In the name of a private corporation followed by the words "a corporation", for
example: "Smith Manufacturing Co., a corporation." Bonds may not be registered in the name of a bank or trust company which accepts demand deposits
except when held by such bank or trust company in fiduciary capacity.
(3) In the name of an unincorporated association or other body followed by the
words "an unincorporated association," for example: "The Lotus Club, an unincorporated association." The term "an unincorporated association" should not
be used to describe a trust fund, a partnership or a business conducted under
a trade name.
(4) In the name of a partnership, considered as an entity, followed by the words
"a partnership", for example: "Smith Brown & Co., a partnership."
(5) In the name of one or more executors, administrators, guardians, committees,
conservators or other representatives of a single estate appointed by a court of
competent jurisdiction or otherwise legally qualified, all of whose names must
be included in the registration, followed by adequate identifying reference to
the estate, for example:
"John Smith, executor of the will (or administrator of the estate) of Henry
J. Smith, deceased", or "William C. Jones, guardian (or committee, etc.)
of the estate of James D. Brown, a minor (or an incompetent)".
A father or mother, as such, or as natural guardian, is not considered a
fiduciary for the purposes of registration.
Registration is restricted to residents of the Continental United States,
the Territories and Insular Possessions of the United States, the Canal Zone,
the Philippine Islands, or citizens of the United States temporarily residing
abroad.
The full name of the owner and that of the coowner or beneficiary, if
any, should be used and should be the name by which the person is ordinarily
known and under which he does business; if there are two given names the
initial of one may be used, or if a person is habitually known and does
business by initial only of his given names, registration may be in such form.
In the case of women, the name must be preceded by "Miss" or "Mrs." and
a married woman's own given name should be used, not that of her husband,
for example, "Mrs. Mary A. Jones", not "Mrs. Frank B. Jones".
CAUTION:
Ownership m War Savings Bonds of Series F, either alone or in
Digitizedcombination
for FRASER with those of Series G, is limited to $100,000 (cost price) originally
issued in any one calendar year.
DUPLICATE
F. R. B. Form No. G.B. 3 39.2
»
To be retained by agency
accepting application.
Application for
UNITED STATES WAR SAVINGS BONDS—SERIES F
( 1 2 - Y E A R APPRECIATION
BONDS)
The undersigned hereby applies for United States War Savings Bonds
of Series F (issued pursuant to Treasury Department Circular No. 654,
Revised, dated June 1, 1942) as follows:
Number
of bonds
Denomination
(Maturity Value)
Issue Price
(Each bond)
$25 . . . .
$18.50
Amount
(Total Cost)
.
. $•
$74 . . .
•
$
.
$370 . . .
•
$
.
$1,000 . . . .
$740 . . .
•
$
.
$5,000 . . . . $3,700 . . .
•
$
. $10,000 . . . . $7,400 . . .
.
$
Total amount of purchase . . .
•
$
.
$100 . .
$500 . .
Bonds to be inscribed (Please print or write legibly)
Bonds will be forwarded by registered mail to the address shown above
unless otherwise instructed.
Other instructions, if any
Application forwarded by
(Name of agency)
(Signature of purchaser)
(Address of agency)
(Address)
Date
http://fraser.stlouisfed.org/
G.B. 339.2 200M-7-42
Federal Reserve Bank of St. Louis
194
TRIPLICATE
F. R. B. Form No. G.B. 339.2
r
T o be retained by purchaser.
Application for
UNITED STATES WAR SAVINGS BONDS—SERIES F
( 1 2 - Y E A R APPRECIATION
BONDS)
The undersigned hereby applies for United States War Savings Bonds
of Series F (issued pursuant to Treasury Department Circular No. 654,
Revised, dated June 1, 1942) as follows:
Number
of bonds
Denomination
(Maturity Value)
Issue Price
(Each bond)
$25 . . . .
.
•
$•
$74 . . .
.
$•
$500 . . . .
$370 . . .
.
$
.
$1,000 . . . .
$740 . . ,
• $
.
$5,000 . . . . $3,700 . . .
•
$
. $10,000 . . . . $7,400 . . .
.
$
Total amount of purchase . . .
•
$
$100 . .
$18.50
Amount
(Total Cost)
Bonds to be inscribed (Please print or write legibly)
Bonds will be forwarded by registered mail to the address shown above
unless otherwise instructed.
Other instructions, if any
(For use of Agency receiving application)
MEMORANDUM
Received $
from
the purchase price of $
War Savings Bonds of Series F.
194
Date
http://fraser.stlouisfed.org/
G.B. 339.2 200M-7-42
Federal Reserve Bank of St. Louis
RECEIPT
(maturity value) United States
ORIGINAL
VJr
To be forwarded to Federal Reserve
Bank of New York accompanied by
remittance covering cost of bonds.
Application for
UNITED STATES SAVINGS BONDS—DEFENSE SERIES G
( 1 2 - Y E A R INTEREST-BEARING
BONDS)
The undersigned hereby applies for United States Savings Bonds of
Defense Series G (issued pursuant to Treasury Department Circular No. 654,
dated April 15, 1941) as follows:
Number
of bonds
Denomination
(Maturity Value)
Issue Price
(Each bond)
$100
.
$100 .
$500
.
$500 .
$1,000
. $1,000 .
$5,000
. $5,000 .
$10,000
.$10,000 .
Amount
(Total Cost)
$-
Total amount of purchase .
Bonds to be inscribed (see other side) (Please print or write legibly) :
Bonds will be forwarded by registered mail to the address shown above,
unless otherwise instructed.
Other instructions, if any
Application forwarded by
Date
(Name of agency)
(Signature of purchaser)
(Address of agency)
(Address)
G. B. 340.1 500M 1-42
194
INSTRUCTIONS
Complete information and permissible f o r m s of registration
found in Treasury Department Circular N o . 530, Fourth Revision.
Strict compliance with the terms of
will be
the circular will avoid delay in
issuing bonds.
F o r the general guidance of issuing agents accepting orders, United
States Savings Bonds of Defense Series G may be registered as f o l l o w s :
(1) In the names of natural persons (that is, individuals) whether adults
or minors, in their own right, as follows:
(a) In the name of one person,
(b) In the names of two (but not more than two) persons in the alternative as coowners, and
(c) In the name of one person payable on death to one (but not more
than one) designated person.
(2) In the name of an incorporated or unincorporated body, in its own
right (except that no bond may be registered in the name of a bank or
trust company which accepts demand deposits).
(3) In the name of a fiduciary.
(4) In the name of the owner or custodian of public funds.
Registration is restricted to residents of the Continental United States,
the Territories and Insular Possessions of the United States, the Canal Zone,
the Philippine Islands, or citizens of the United States temporarily residing
abroad.
The full name of the owner, that of the beneficiary, if any, or those of
the coowners should be given, except that if there are two given names an
initial may be substituted for one. The name should be preceded by "Miss"
or "Mrs." when appropriate. A married woman's own given name should
be used, not that of her husband, for example, "Mrs. Mary A. Jones", not
"Mrs. Frank B. Jones". The name of a minor, or other incompetent under
legal guardianship should be followed by the words "a minor (or incompetent) under legal guardianship".
CAUTION: Ownership in Savings Bonds of Series G, either alone or in combination with those of Series F, is limited to $50,000 (cost price) originally issued in any
one calendar year.
F. R. 15. Form No. U.B. 340.1
F^
DUPLICATE
Vt
To be retained by agency
accepting application.
Application for
UNITED STATES SAVINGS BONDS—DEFENSE SERIES G
( 1 2 - Y E A R INTEREST-BEARING
BONDS)
The undersigned hereby applies for United States Savings Bonds of
Defense Series G (issued pursuant to Treasury Department Circular No. 654,
dated April 15, 1941) as follows:
Number
of bonds
_:
Denomination
(Maturity Value)
Issue Price
(Each bond)
Amount
(Total Cost)
. . . .
$100 . . . .
$100 . . . .
. . . .
$500 . . . .
$500 . . . . $
. . . .
$1,000 . . . .
$1,000 . . . .
. . . .
$5,000 . . . .
$5,000 . . . . $
. . . .
$10,000 . . . .$10,000 . . . .
$
$
_____
$
Total amount of purchase . . . . $
Bonds to be inscribed (Please print or write legibly) :
Bonds will be forwarded by registered mail to the address shown above,
unless otherwise instructed.
Other instructions, if any
Application forwarded by
Date
(Name of agency)
(Signature of purchaser)
(Address of agency)
(Address)
G. B. 340.1 500M 1-42
194
F. R. B. Form No. G.B. 340.1
TRIPLICATE
G
To be retained by purchaser.
Application for
U N I T E D
STATES
SAYINGS
B O N D S — D E F E N S E
( 1 2 - Y E A R INTEREST-BEARING
SERIES
G
BONDS)
The undersigned hereby applies for United States Savings Bonds of
Defense Series G (issued pursuant to Treasury Department Circular No. 654,
dated April 15, 1941) as follows:
Number
of bonds
Denomination
(Maturity Value)
Issue Price
(Each bond)
Amount
(Total Cost)
$100 . . , . $100
$500 . . . .
$500
$1,000 . . . . $1,000
$5,000 . . . .
$10,000 . . .
$5,000
.$10,000
Total amount of purchase
Bonds to be inscribed (Please print or write legibly) :
Bonds will be forwarded by registered mail to the address shown above,
unless otherwise instructed.
Other instructions, if any
(For use of Agency receiving application)
MEMORANDUM RECEIPT
Received $
from
the purchase price of a like face amount of United States Defense Savings
Bonds of Series G.
Date
http://fraser.stlouisfed.org/
G. B. 340.1 S00M 1-42
Federal Reserve Bank of St. Louis
194 .
G. B.—40M—100M—12-42
APPLICATION
FOR
UNITED STATES OF AMERICA TREASURY TAX SAVINGS NOTES
Tax Series C
Acceptable At Par and Interest In Payment of Federal Income, Estate, and Gift Taxes
FEDERAL RESERVE B A N K OF N E W
YORK,
Fiscal Agent of the United States,
GOVERNMENT BOND
Date
, 194
DEPARTMENT:
Pursuant to the terms of the appropriate Treasury Department Circular the undersigned submits this application for $.
(face amount) United States of America Treasury Tax
Savings Notes, Series C at par to be inscribed as follows:
(Name—Please type or print)
(Address—Please type or print)
(NOTICE
TO
SUBSCRIBER:
The above name must be identical tvith that used when making payment for
taxes to Internal Revenue Collector. Notes will not be inscribed in, the names
of joint owners or the name of a partnership).
The notes are to be issued in the following denominations and delivered as indicated below:
Number
of
Pieces
Denominations
Total
D o Not Use
Face Amount
1,000
5,000
10,000
100,000
500,000
1,000,000
(NOTICE TO SUBSCRIBER: Payment must accompany this application).
•
•
•
•
Forward to the purchaser by registered mail
Deliver over the counter to the purchaser
Forward to the bank or agent named below by registered mail
Deliver over the counter to the bank or agent named below
• -
(Special Instructions)
Signature of Purchaser
METHOD
OF
(This signature is not required when application is submitted
on behalf of the purchaser by a ban\ or a gent)
PAYMENT
We submit the above application, payment in respect thereof to be made as follows:
•
•
•
By check enclosed
By charge to our reserve account, which is hereby authorized (for use of member banks only)
By credit to our War Loan Deposit account (Form GB 352 enclosed) (for use of qualified
depositary only)
Name of Bank or Agent
Official Signature
Address.
(Title)
(City, Town or Village and State)
@FedFRASER