4 Percent FFMC Bonds of 1944-64, 3 Percent FFMC Bonds of 1944-49, 1 Percent RFC Notes of Series W, and 3 Percent HOLC Bonds, Series A 1944-52

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

r Circular N o . 2 7 6 9 * 1
L
M a r c h 2, 1944
J

OFFERING OF
United States of America
2y 2 Percent Treasury Bonds of 1965-70
Dated February 1, 1944
Due March 15,1970
Additional Issue

United States of America
2% Percent Treasury Bonds of 1956-59
Dated February 1, 1914

Due September 15, 1959

United States of America
1 y2 Percent Treasury Notes of Series A-1948
Dated March 15, 1914

Due September 15, 194S

Additional Issue

IN EXCHANGE FOR

Treasury issues:
1% Treasury Notes of Series B-1944, maturing March 15, 1944
3Y 4 % Treasury Bonds of 194446, called for redemption on April 15, 1944
% % Treasury Notes of Series A-1944, maturing June 15, 1944
Federal Farm Mortgage Corporation issues:
3Vi% FFMC Bonds of 1944-64, called for redemption on March 15, 1944
3% FFMC Bonds of 194449, called for redemption on May 15,1944
Reconstruction Finance Corporation issue:
1% RFC Notes of Series W, maturing April 15, 1944
Home Owners' Loan Corporation issue:
3% HOLC Bonds, Series A 1944-52, called for redemption on May 1, 1944

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

The following press statement was today made public:
Secretary of the Treasury Morgenthau today announced an exchange offering of securities,
through the Federal Reserve Banks, open to holders of the following-listed securities:

Description and Title

•

Maturity or
Call Date

Amount
Outstanding
(Millions of
Dollars)

Treasury issues:
1 Percent Treasury Notes of Series B-1944
3y 4 Percent Treasury Bonds of 1944-46
% Percent Treasury Notes of Series A-1944

March 15, 1944
April 15, 1944
June 15, 1944

515
1,519
416

Federal Farm Mortgage Corporation issues:
Percent F F M C Bonds of 1944-64
3 Percent F F M C Bonds of 1944-49

March 15, 1944
May
15,1944

95
835

Reconstruction Finance Corporation issue:
1 Percent R F C Notes of Series W

April

15,1944

571

Home Ourners' Loan Corporation issue:
3 Percent HOLC Bonds, Series A 1944-52

May

1, 1944

779

Total

4,730

The Treasury Bonds of 1944-46 were called last December for redemption on April 15. The Federal
Farm Mortgage Corporation is today announcing the call of its two issues listed above for redemption
on their next interest payment dates, and the Home Owners' Loan Corporation is announcing the call for
redemption on May 1 of its Series A1944-52 bonds.

Holders of any of the seven issues enumerated, other than commercial banks, will be given an opportunity to exchange all or any part of their called or maturing securities for additional amounts of
Percent Treasury Bonds of 1965-70 and 2 % Percent Treasury Bonds of 1956-59, both dated February
1, 1944, in amounts or multiples of $500, or for a new Treasury note to be dated March 15, 1944, in
amounts or multiples of $1,000, with adjustments of accrued interest. Commercial banks will be permitted to exchange their own holdings for the new notes, but not for the bonds, which are restricted as to
commercial bank holdings.
The Treasury Bonds of 1965-70 and the Treasury Bonds of 1956-59 now offered in exchange for the
called and maturing securities listed above constitute additional issues of the bonds recently sold during
the Fourth War Loan Drive. They are dated February 1, 1944, and bear interest from that date at the
rate of
percent and 21/4: percent per annum, respectively, payable on a semiannual basis on September
15, 1944, and thereafter on March 15 and September 15 in each year until the principal amounts become
payable. Both are issued in two forms, bearer bonds with interest coupons attached, and bonds registered as to principal and interest. Both forms are issued in denominations of $500, $1,000, $5,000,
$10,000, $100,000 and $1,000,000. The 2i/2 Percent Treasury Bonds of 1965-70 will mature March 15,1970,
but may be redeemed at the option of the United States on and after March 15, 1965. The 21,4 Percent
Treasury Bonds of 1956-59 will mature September 15, 1959, but may be redeemed at the option of the
United States on and after September 15, 1956.
The Treasury Notes of Series A-1948 will be dated March 15, 1944, and will bear interest from
that date at the rate of i y 2 percent per annum, payable semiannually on September 15, 1944, and
thereafter on March 15 and September 15 in each year until they mature on September 15, 1948.
They will not be subject to call for redemption prior to maturity. They will be issued in bearer form
only, with interest coupons attached, in denominations of $1,000, $5,000, $10,000, $100,000 and
$1,000,000.
Pursuant to the provisions of the Public Debt Act of 1941, interest upon the bonds and notes
now offered shall not have any exemption, as such, under Federal tax Acts now or hereafter enacted.
The full provisions relating to taxability are set forth in the official circulars released today.
Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury
Department, Washington. Banking institutions generally may submit subscriptions for account of
customers, but only the Federal Reserve Banks and the Treasury are authorized to act as official
agencies. Subject to the usual reservations, all subscriptions will be allotted in full. All subscriptions should be accompanied by the securities to be exchanged and appropriate remittance in any case
where the table of interest adjustments at the end of the offering circular shows that an amount is to
be collected from the subscriber.
In the case of Treasury Notes of Series B-1944, the 3*4 Percent FFMC Bonds, and the RFC Notes,
interest adjustments will be made as of March 15. In the case of the Treasury Bonds of 1944-46, the
HOLC Bonds and the 3 Percent FFMC Bonds, adjustments will be made as of their respective due
dates. Holders of the Treasury Notes of Series A-1944 are given the option of having interest
adjusted as of March 15 or June 15. The bases on which the securities comprising these seven issues
may be presented and accepted, and the new securities obtained, are specifically set forth in the official
circulars.
In determining the amount of interest received upon the securities exchanged, and the exemption to which such interest is entitled, for Federal income tax purposes, the full amount which is
allowed as interest on the securities surrendered in the exchange will be regarded as such to the extent
that it accrued to the holder making the exchange, and not as a capital recovery; similarly the
amount of interest charged the subscriber on the new securities issued will be regarded as an investment of capital, and therefore upon subsequent recovery of such amount (i.e., upon payment of interest
to him on the securities or upon sale or other disposition by him of the securities) as a return of
capital and not as interest income.

The terms of these offerings are set forth, respectively, in Treasury Department Circulars
Nos. 734, 735 and 736, dated March 2, 1944, copies of which are printed on the following pages.
The subscription books are now open and applications will be received by this bank as
fiscal agent of the United States. Cash subscriptions will not be received. Exchange subscriptions should be made on official subscription blanks and mailed immediately or, if filed
by telegram or letter, should be confirmed immediately by mail on the blanks provided.

AT.T.AN

SPBOUL,

President.

UNITED STATES OF AMERICA
2y 2 PERCENT TREASURY BONDS OF 1965-70
Dated and bearing interest from February 1, 1944

Due March 15, 1970

R E D E E M A B L E A T T H E O P T I O N OF T H E U N I T E D STATES A T P A R A N D A C C R U E D INTEREST ON A N D
A F T E R M A R C H 15, 1965

Interest payable March 15 and September 15
A D D I T I O N A L ISSUE
Department Cir«ilar No.

734

T R E A S U R Y DEPARTMENT,

Fiscal~Service

OFFICE OF THE SECRETARY,

Bureau of the Public Debt

Washington,
I.

EXCHANGE

O F F E R I N G OF

March

1944.

BONDS

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act,
as amended, invites subscriptions, at par with adjustments of accrued interest as shown in the table
at the end of this circular, from the people of the United States for bonds of the United States, designated 2Y2 percent Treasury Bonds of 1965-70, in payment of which any of the following listed securities, singly or in combinations aggregating $500 or multiples thereof, may be tendered:
Treasury issues:
1 % Treasury Notes of Series B-1944, maturing March 15, 1944
3 % % Treasury Bonds of 1944-46, called for redemption on April 15, 1944
% % Treasury Notes of Series A-1944, maturing June 15, 1944
Federal Farm Mortgage Corporation issues:
314% FFMC Bonds of 1944-64, called for redemption on March 15, 1944
3 % F F M C Bonds of 1944-49, called for redemption on May 15,1944
Reconstruction Finance Corporation issue:
1% R F C Notes of Series W, maturing April 15,1944
Home Owners' Loan Corporation issue:
3% HOLC Bonds, Series A 1944-52, called for redemption on May 1, 1944
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 under
this circular will be limited to the amount of the above-listed bonds and notes tendered and accepted.
In addition to the offering under this circular, holders of any of the securities listed, other than commercial banks, are offered the privilege of exchanging all or any part of such securities for 2 % percent
Treasury Bonds of 1956-59, and all holders, including commercial banks, may exchange for i y 2 percent Treasury Notes of Series A-1948, which offerings are set forth in Department Circulars Nos. 735
and 736, issued simultaneously with this circular.
II.

DESCRIPTION OF

BONDS

1. The bonds now offered will be an addition to and will form a part of the series of 2 % percent
Treasury Bonds of 1965-70 issued pursuant to Department Circular No. 729, dated January 18, 1944,
will be freely interchangeable therewith, and are identical in all respects therewith. They are dated
February 1, 1944, and bear interest from that date at the rate of 2 % percent per annum, payable on
a semiannual basis on September 15, 1944, and thereafter on March 15 and September 15 in each year
until the principal amount becomes payable. They will mature March 15, 1970, but may be redeemed
at the option of the United States on and after March 15, 1965, 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. Except as provided in Section I of Department Circular No. 729, these bonds may
not, before February 1, 1954, 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 f o r
loans, including loans by commercial banks, but any such bank acquiring such bonds before February
1, 1954, 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.
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.
2. The Secretary of the Treasury reserves the right to reject any subscription, in whole or in
part, 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 from February 1, 1944, for bonds allotted hereunder
must be made or completed on or before March 15, 1944, or on later allotment. Payment of the principal amount may be made only in the bonds or notes to be exchanged, which will be accepted at par,
and should accompany the subscription. Accrued interest on the securities surrendered will be credited, and accrued interest on the new bonds from February 1, 1944, will be charged, as shown in the
table at the end of this circular. Where the table shows that an amount will be collected from the
subscriber, the remittance should accompany the securities and subscription. Where an amount is to
be paid to the subscriber, it will be paid, in the case of coupon bonds, and notes, following their acceptance, and in the case of registered bonds, following discharge of registration. Interest accrued on the
securities to be exchanged, and on the new bonds to be issued, will be adjusted as of various dates as
follows:
Securities to be exchanged

Date of

Treasury Notes of Series B-1944
F F M C Bonds of 1944-64
R F C Notes of Series W
Treasury Bonds of 1944-46
HOLC Bonds, Series A 1944-52
F F M C Bonds of 1944-49
Treasury Notes of Series A-1944

adjustment

March 15, 1944
March 15, 1944
March 15, 1944
April 15, 1944
May 1, 1944
May 15, 1944
March 15 or June 15, 1944, as the holder
may elect and specify in his subscription.

1 An exact half-year's interest is computed for each f u l l 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.
2 The transfer books are closed from February 16 to March 15, and from August 16 to September 15 (both dates
inclusive) in each year.
3 Copies of Form P D 1782 may be obtained from any Federal Eeserve Bank or from the Treasury Department^
Washington, D. C.

2. Holders of Treasury Notes of Series B-1944 and FFMC Bonds of 1944-64 will detach coupons
dated March 15, 1944, and cash them when due. With respect to the other five issues, all unmatured
coupons, including the one next due, must be attached to the securities to be exchanged when they are
surrendered, and final interest on these securities, and on registered bonds in all cases, will be paid or
credited in a net amount.
V.

SURRENDER

OF CALLED

BONDS

1. Coupon bonds.—'Treasury Bonds of 1944-46, HOLC Bonds of Series A 1944-52, FFMC Bonds
of 1944-49 and F F M C Bonds of 1944-64 in coupon form tendered in payment for bonds offered hereunder should be presented and surrendered with the subscription to a Federal Reserve Bank or Branch
or to the Treasurer of the United States, Washington, D. C. Coupons dated April 15, 1944, May 1,
1944, May 15, 1944, and September 15, 1944, respectively, and all coupons bearing subsequent dates,
should be attached to such bonds when surrendered, and if any such coupons are missing, the subscription must be accompanied by cash payment equal to the face amount of the missing coupons. The
bonds must be delivered at the expense and risk of the holder. Facilities for transportation of bonds
by registered mail insured may be arranged between incorporated banks and trust companies and the
Federal Reserve Banks, and holders may take advantage of such arrangements when available, utilizing such incorporated banks and trust companies as their agents.
2. Registered bonds.—Treasury Bonds of 1944-46, HOLC Bonds of Series A 1944-52, FFMC Bonds
of 1944-49 and F F M C Bonds of 1944-64 in registered form tendered in payment for bonds offered
hereunder should be assigned by the registered payees or assignees thereof, in accordance with the
general regulations of the Treasury Department governing assignments for redemption, in one of the
forms hereafter set forth, and thereafter should be presented and surrendered with the subscription
to a Federal Reserve Bank or Branch or to the Treasury Department, Division of Loans and Currency,
Washington, D. C. The bonds must be delivered at the expense and risk of the holder. If the new
bonds are desired registered in the same name as the bonds surrendered, the assignment should be to
" T h e Secretary of the Treasury for exchange for Treasury Bonds of 1965-70"; if the new bonds are
desired registered in another name, the assignment should be to " T h e Secretary of the Treasury for
exchange for Treasury Bonds of 1965-70 in the name of
if new
bonds in coupon form are desired, the assignment should be to " T h e Secretary of the Treasury for
exchange for Treasury Bonds of 1965-70 in coupon form to be delivered to
VI.

GENERAL

PROVISIONS

1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to
receive subscriptions, to make allotments on the basis and up to the amounts indicated by the Secretary
of the Treasury to the Federal Reserve Banks of the respective Districts, to issue allotment notices, to
receive payment for 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.
TABLE

OF I N T E R E S T A D J U S T M E N T S P E R $1,000 I N C O N N E C T I O N W I T H E X C H A N G E
VARIOUS BONDS A N D NOTES FOR
% T R E A S U R Y B O N D S O F 1965-70, D A T E D
F E B R U A R Y 1, 1944, U N D E R D E P A R T M E N T C I R C U L A R NO. 734

SECURITIES

SURRENDERED

Accrued interest to be
credited on
securities
surrendered

Accrued interest to be
charged on
bonds issued

Net amount
to be
paid to
subscriber

Net amount
to be collected from
subscriber

Exchange as of March 15, 1944
$2.9533
$2.9533
1 % Treasury Notes, Series B - 1 9 4 4 . . .
3%% F F M C Bonds of 1944-64 in
coupon f o r m
2.9533
2.9533
3 % % F F M C Bonds of 1944-64 in
registered f o r m
2.9533
. $16.25
$13.2967
1% R F C Notes, Series W
2.9533
4.15301
1.19971
1.86475
2.9533
1.08855
% % Treasury Notes, Series A-1944.,
Exchange as of April 15, 1944
16.25
5.05927
11.19073
3 * 4 % Treasury Bonds of 1 9 4 4 - 4 6 . . . .
Exchange as of May 1,1944
3 % H O L C Bonds, Series A 1944-52.. .
15.00
6.14623
8.85377
Exchange as of May 15, 1944
3 % F F M C Bonds of 1944-49
15.00
7.09732
7.90268
Exchange as of June 15, 1944
5.4533
% % Treasury Notes, Series A-1944.,.
3.75
9.2033
IT WILL BE NOTED THAT THE HOLDER OF THE SECURITIES TO BE EXCHANGED WILL BE
PAID OR CREDITED WITH INTEREST AT THE RATE BORNE BY THOSE SECURITIES TO THEIR
RESPECTIVE MATURITY OR REDEMPTION DATES, EXCEPT IN THE CASE OF THE RFC NOTES AND,
AT THE HOLDER'S OPTION, THE TREASURY NOTES OF SERIES A-1944.

UNITED STATES OF AMERICA
2y 4 PERCENT TREASURY BONDS OF 1956-59
Dated and bearing interest from February 1, 1944

Due September 15, 1959

R E D E E M A B L E A T T H E OPTION OF T H E U N I T E D STATES A T P A R A N D A C C R U E D INTEREST ON A N D
A F T E R SEPTEMBER 15, 1956

Interest payable March 15 and September 15
A D D I T I O N A L ISSUE
1944
Department Circular No. 735

TREASURY

DEPARTMENT,

OFFICE OF THE SECRETARY,

Fiscal Service
Bureau of the Public Debt

Washington,
I.

E X C H A N G E OFFERING OF

March 2, 1944.

BONDS

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act,
as amended, invites subscriptions, at par with adjustments of accrued interest as shown in the table
at the end of this circular, from the people of the United States for bonds of the United States, designated 2*4 percent Treasury Bonds of 1956-59, in payment of which any of the following listed securities, singly or in combinations aggregating $500 or multiples thereof, may be tendered:
Treasury issues:
1 % Treasury Notes of Series B-1944, maturing March 15,1944
3 1 / 4% Treasury Bonds of 1944-46, called for redemption on April 15, 1944
% % Treasury Notes of Series A-1944, maturing June 15, 1944
Federal Farm Mortgage Corporation issues:
3Y 4 % FFMC Bonds of 1944-64, called for redemption on March 15, 1944
3 % F F M C Bonds of 1944-49, called for redemption on May 15,1944
Reconstruction Finance Corporation issue:
1% R F C Notes of Series W, maturing April 15,1944
Home Owners' Loan Corporation issue:
3% HOLC Bonds, Series A 1944-52, called for redemption on May 1, 1944
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 under
this circular will be limited to the amount of the above-listed bonds and notes tendered and accepted.
In addition to the offering under this circular, holders of any of the securities listed, other than commercial banks, are offered the privilege of exchanging all or any part of such securities for 21/2 percent
Treasury Bonds of 1965-70, and all holders, including commercial banks, may exchange for 1 % percent Treasury Notes of Series A-1948, which offerings are set forth in Department Circulars Nos. 734
and 736, issued simultaneously with this circular.
II.

DESCRIPTION OF

BONDS

1. The bonds now offered will be an addition to and will form a part of the series of 2 % percent
Treasury Bonds of 1956-59 issued pursuant to Department Circular No. 730, dated January 18, 1944,
will be freely interchangeable therewith, and are identical in all respects therewith. They are dated
February 1, 1944, and bear interest from that date at the rate of 2*4 percent per annum, payable on
a semiannual basis on September 15, 1944, and thereafter on March 15 and September 15 in each year
until the principal amount becomes payable. They will mature September 15, 1959, but may be
redeemed at the option of the United States on and after September 15, 1956, 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 f o r the transfer of registered bonds, under rules and regulations prescribed by the Secretary of
the Treasury. Except as provided in Section I of Department Circular No. 730, these bonds may
not, before September 15, 1946, 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, 1946, 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.
Registered bonds submitted for redemption hereunder must be duly assigned to 1 ' The 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 the 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 1782,8 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

PAYMENT

1. Payment at par and accrued interest from February 1, 1944, for bonds allotted hereunder
must be made or completed on or before March 15, 1944, or on later allotment. Payment of the principal amount may be made only in the bonds or notes to be exchanged, which will be accepted at par,
and should accompany the subscription. Accrued interest on the securities surrendered will be credited, and accrued interest on the new bonds from February 1, 1944, will be charged, as shown in the
table at the end of this circular. Where the table shows that an amount will be collected from the
subscriber, the remittance should accompany the securities and subscription. Where an amount is to
be paid to the subscriber, it will be paid, in the case of coupon bonds and notes, following their acceptance, and in the case of registered bonds, following discharge of registration. Interest accrued on the
securities to be exchanged, and on the new bonds to be issued, will be adjusted as of various dates as
follows:
Securities to be exchanged

Bate of

Treasury Notes of Series B-1944
F F M C Bonds of 1944-64
R F C Notes of Series W
Treasury Bonds of 1944-46
HOLC Bonds, Series A 1944-52
F F M C Bonds of 1944-49
Treasury Notes of Series A-1944

adjustment

March 15, 1944
March 15,1944
March 15,1944
April 15, 1944
May 1, 1944
May 15, 1944
March 15 or June 15, 1944, as the holder
may elect and specify in his subscription.

1 An exact half-year's interest is computed for each f u l l 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.
2 The transfer books are closed from February 16 to March 15, and from August 16 to September 15 (both date3
inclusive) in each year.
s Copies of Form P D 1782 may be obtained from any Federal Eeserve Bank or from the Treasury Department,
Washington, D. C.

2. Holders of Treasury Notes of Series B-1944 and F F M C Bonds of 1944-64 will detach coupons
dated March 15, 1944, and cash them when due. With respect to the other five issues, all unmatured
coupons, including the one next due, must be attached to the securities to be exchanged when they are
surrendered, and final interest on these securities, and on registered bonds in all cases, will be paid or
credited in a net amount.
V.

SURRENDER

OF CALLED

BONDS

1. Coupon bonds.—Treasury Bonds of 1944-46, HOLC Bonds of Series A 1944-52, FFMC Bonds
of 1944-49 and FFMC Bonds of 1944-64 in coupon form tendered in payment for bonds offered hereunder should be presented and surrendered with the subscription to a Federal Reserve Bank or Branch
or to the Treasurer of the United States, Washington, D. C. Coupons dated April 15, 1944, May 1,
1944, May 15, 1944, and September 15, 1944, respectively, and all coupons bearing subsequent dates,
should be attached to such bonds when surrendered, and if any such coupons are missing, the subscription must be accompanied by cash payment equal to the face amount of the missing coupons. The
bonds must be delivered at the expense and risk of the holder. Facilities for transportation of bonds
by registered mail insured may be arranged between incorporated banks and trust companies and the
Federal Reserve Banks, and holders may take advantage of such arrangements when available, utilizing such incorporated banks and trust companies as their agents.
2. Registered 6onds.—"Treasury Bonds of 1944-46, HOLC Bonds of Series A 1944-52, F F M C Bonds
of 1944-49 and FFMC Bonds of 1944-64 in registered form tendered in payment for bonds offered
hereunder should be assigned by the registered payees or assignees thereof, in accordance with the
general regulations of the Treasury Department governing assignments for redemption, in one of the
forms hereafter set forth, and thereafter should be presented and surrendered with the subscription
to a Federal Reserve Bank or Branch or to the Treasury Department, Division of Loans and Currency,
Washington, D. C. The bonds must be delivered at the expense and risk of the holder. If the new
bonds are desired registered in the same name as the bonds surrendered, the assignment should be to
" T h e Secretary of the Treasury for exchange for Treasury Bonds of 1956-59"; if the new bonds are
desired registered in another name, the assignment should be to ' ' The Secretary of the Treasury for
exchange for Treasury Bonds of 1956-59 in the name of
if new
bonds in coupon form are desired, the assignment should be to " T h e Secretary of the Treasury for
exchange for Treasury Bonds of 1956-59 in coupon form to be delivered to
>)

VI.

GENERAL

PROVISIONS

OF I N T E R E S T A D J U S T M E N T S P E R $1,000 I N C O N N E C T I O N W I T H E X C H A N G E
V A R I O U S B O N D S A N D N O T E S F O R 2 * 4 % T R E A S U R Y B O N D S OF 1956-59, D A T E D
F E B R U A R Y 1, 1944, U N D E R D E P A R T M E N T C I R C U L A R NO. 735

SECURITIES

SURRENDERED

Accrued interest to be
credited on
securities
surrendered

Accrued interest to be
charged on
bonds issued

Exchange as of March 15, 1944
1 % Treasury Notes, Series B - 1 9 4 4 . .
3 % % F F M C Bonds of 1944-64 in
coupon f o r m
3%% F F M C Bonds of 1944-64 in
$16.25
registered f o r m
4.15301
1 % R F C Notes, Series W
1.86475
% % Treasury Notes, Series A-1944.,
Exchange as of April 15, 1944
16.25
3 Y i % Treasury Bonds of 1 9 4 4 - 4 6 . . . .
Exchange as of May 1,1944
15.00
3 % H O L C Bonds, Series A 1944-52.. .
Exchange as of May 15, 1944
3 % F F M C Bonds of 1944-49
Exchange as of June 15,1944
% % Treasury Notes, Series A-1944.

Net amount
to be
paid to
subscriber

Net amount
to be collected from
subscriber

$2.65797

2.65797

2.65797
2.65797
2.65797

$13.59203
1.49504

4.55335

11.69665

5.53161

9.46839

15.00

6.38759

8.61241

3.75

8.28297

" .79322

4.53297

IT WILL BE NOTED THAT THE HOLDER OF THE SECURITIES TO BE EXCHANGED W I L L BE
PAID OR CREDITED WITH INTEREST AT THE RATE BORNE BY THOSE SECURITIES TO THEIR
RESPECTIVE MATURITY OR REDEMPTION DATES, EXCEPT IN THE CASE OF THE RFC NOTES AND.
AT THE HOLDER'S OPTION, THE TREASURY NOTES OF SERIES A-1944.

UNITED STATES OF AMERICA
1 y 2 PERCENT TREASURY NOTES OF SERIES A-1948
Due September 15, 1948

Dated and bearing interest from March 15, 1944
Interest payable March 15 and September 15
1944
Department Circular No. 736

T R E A S U R Y

DEPARTMENT,

O F F I C E OF T H E SECRETARY,

Fiscal Service
Bureau of the Public Debt

Washington, March 2, 1944.
I.

EXCHANGE

OFFERING

NOTES

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act,
as amended, invites subscriptions, at par with adjustments of accrued interest as shown in the table
at the end of this circular, from the people of the United States for notes of the United States, designated 1 % percent Treasury Notes of Series A-1948, in payment of which any of the following listed
securities, singly or in combinations aggregating $1,000 or multiples thereof, may be tendered:
Treasury issues:
1 % Treasury Notes of Series B-1944, maturing March 15, 1944
3 % % Treasury Bonds of 1944-46, called for redemption on April 15, 1944
% % Treasury Notes of Series A-1944, maturing June 15, 1944
Federal Farm Mortgage Corporation issues:
F F M C Bonds of 1944-64, called for redemption on March 15, 1944
3% FFMC Bonds of 1944-49, called for redemption on May 15, 1944
Reconstruction Finance Corporation issue:
1 % R F C Notes of Series W, maturing April 15,1944
Home Owners' Loan Corporation issue:
3% HOLC Bonds, Series A 1944-52, called for redemption on May 1, 1944
The amount of the offering under this circular will be limited to the amount of the above-listed bonds
and notes tendered and accepted. In addition to the offering under this circular, holders of any of
the securities listed, other than commercial banks, which are defined for this purpose as banks accepting demand deposits, are offered the privilege of exchanging all or any part of such securities for 2y 2
percent Treasury Bonds of 1965-70 or for 2*4 percent Treasury Bonds of 1956-59, which offerings
are set forth in Department Circulars Nos. 734 and 735, issued simultaneously with this circular.
II.

DESCRIPTION

NOTES

1. The notes will be dated March 15, 1944, and will bear interest from that date at the rate of
1 y 2 percent per annum, payable semiannually on September 15, 1944, and thereafter on March 15
and September 15 in each year until the principal amount becomes payable. They will mature September 15, 1948, and will not be subject to call for redemption prior to maturity.
2. The 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.
3. The notes will be accepted at par during sueh time and under such rules and regulations as
shall be prescribed or approved by the Secretary of the Treasury in payment of income and profits
taxes payable at the maturity of the notes.
4. The notes will be acceptable to secure deposits of public moneys.
5. Bearer notes with interest coupons attached will be issued in denominations of $1,000, $5,000,
$10,000, $100,000 and $1,000,000. The notes will not be issued in registered form.
6. The notes will be subject to the general regulations of the Treasury Department, now or
hereafter prescribed, governing United States notes.

III.

SUBSCRIPTION AND

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.
2. The Secretary of the Treasury reserves the right to reject any subscription, in whole or in
part, 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 notes allotted hereunder must be made
or completed on or before March 15, 1944, or on later allotment. Payment of the principal amount
may be made only in the bonds or notes to be exchanged, which will be accepted at par, and should
accompany the subscription. Accrued interest on the securities surrendered will be credited, and
accrued interest on the new notes from March 15, 1944, will be charged, as shown in the table at
the end of this circular. Where an amount is to be paid to the subscriber, it will be paid, in the case
of coupon bonds and notes, following their acceptance, and in the case of registered bonds, following discharge of registration. Interest accrued on the securities to be exchanged, and on the new
notes to be issued, will be adjusted as of various dates as follows:
Securities to be exchanged

Treasury Notes of Series B-1944
FFMC Bonds of 1944-64
R F C Notes of Series W
Treasury Bonds of 1944-46
HOLC Bonds, Series A 1944-52
F F M C Bonds of 1944-49
Treasury Notes of Series A-1944

Date of

adjustment

March 15,1944
March 15, 1944
March 15,1944
April 15, 1944
May 1, 1944
May 15, 1944
March 15 or June 15, 1944, as the holder
may elect and specify in his subscription.

2. Holders of Treasury Notes of Series B-1944 and FFMC Bonds of 1944-64 will detach
coupons dated March 15, 1944, and cash them when due. With respect to the other five issues,
all unmatured coupons, including the one next due, must be attached to the securities to be exchanged
when they are surrendered, and final interest on these securities, and on registered bonds in all
cases, will be paid or credited in a net amount.
V.

SURRENDER OF CALLED BONDS

1. Coupon bonds.—Treasury Bonds of 1944-46, HOLC Bonds of Series A 1944-52, FFMC Bonds
of 1944-49 and F F M C Bonds of 1944-64 in coupon form tendered in payment for notes offered
hereunder should be presented and surrendered with the subscription to a Federal Reserve Bank
or Branch or to the Treasurer of the United States, Washington, D. C. Coupons dated April 15,
1944, May 1, 1944, May 15, 1944, and September 15, 1944, respectively, and all coupons bearing
subsequent dates, should be attached to such bonds when surrendered, and if any such coupons
are missing, the subscription must be accompanied by cash payment equal to the face amount of
the missing coupons. The bonds must be delivered at the expense and risk of the holder. Facilities for transportation of bonds by registered mail insured may be arranged between incorporated
banks and trust companies and the Federal Reserve Banks, and holders may take advantage of
such arrangements when available, utilizing such incorporated banks and trust companies as their
agents.
2. Registered bonds.—Treasury Bonds of 1944-46, HOLC Bonds of Series A 1944-52, F F M C
Bonds of 1944-49 and F F M C Bonds of 1944-64 in registered form tendered in payment for notes
offered hereunder should be assigned by the registered payees or assignees thereof, in accordance
with the general regulations of the Treasury Department governing assignments for redemption,
to " T h e Secretary of the Treasury for exchange for Treasury Notes of Series A-1948 to be delivered to
and thereafter should be presented and surrendered with the subscription to a Federal Reserve Bank or Branch or to the Treasury Department, Division of Loans
and Currency, Washington, D. C. The bonds must be delivered at the expense and risk of the
holder.

VI.

GENERAL

PROVISIONS

1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested
to receive subscriptions, to make allotments on the basis and up to the amounts indicated by the
Secretary of the Treasury to the Federal Reserve Banks of the respective Districts, to issue
allotment notices, to receive payment for notes allotted, to make delivery of notes on full-paid
subscriptions allotted, and they may issue interim receipts pending delivery of the definitive notes.
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.
TABLE

OF I N T E R E S T A D J U S T M E N T S P E R $1,000 I N C O N N E C T I O N W I T H E X C H A N G E
V A R I O U S B O N D S A N D N O T E S F O R i y 2 % T R E A S U R Y N O T E S OF S E R I E S A-1948,
D A T E D M A R C H 15, 1944, U N D E R D E P A R T M E N T CIRCULAR NO. 736

SECURITIES

SURRENDERED

Exchange as of March 15, 1944
1% Treasury Notes, Series B-1944
3~>A% F F M C Bonds of 1944-64 in
coupon f o r m
3 1 4 % F F M C Bonds of 1944-64 in
registered f o r m
1 % R F C Notes, Series W
%%

Treasury Notes, Series A - 1 9 4 4 . .

Exchange as of April 15, 1944
3 % % Treasury Bonds of 1944-46
Exchange

as of May

3 % HOLC Bonds, Series A 1 9 4 4 - 5 2 . . .

as of June

Accrued interest to be
charged on
notes issued

Net amount
to be
paid to
subscriber

Net amount
to be collected from
subscriber

$16.25
4.15301
1.86475

$16.25
4.15301
1.86475
16.25

$1.26359

14.98641

15.00

1.91576

13.08424

15.00

2.48641

12.51359

1,1944

Exchange as of May 15, 1944
3% F F M C Bonds of 1944-49
Exchange

Accrued interest to be
credited on
securities
surrendered

15,1944

% % Treasury Notes, Series A - 1 9 4 4 . .

3.75

IT WILL BE NOTED THAT THE HOLDER OF THE SECURITIES TO BE EXCHANGED WILL BE
PAID OR CREDITED WITH INTEREST AT THE RATE BORNE BY THOSE SECURITIES TO THEIR
RESPECTIVE MATURITY OR REDEMPTION DATES, EXCEPT IN THE CASE OF THE RFC NOTES AND,
AT THE HOLDER'S OPTION, THE TREASURY NOTES OF SERIES A-1944.

USE THIS FORM WHEN

1 PERCENT T R E A S U R Y

NOTES OF SERIES B - 1 9 4 4

Due March 15, 1944
ARE TENDERED IN PAYMENT
(Coupons dated March IS, 1944 should be detached and collected by subscriber)

ubscriber's
eference No.

Application No.

EXCHANGE SUBSCRIPTION
United States of America
2V2 Percent Treasury Bonds
of 1 9 6 5 - 7 0

United States of America
2V4 Percent Treasury Bonds
of 1 9 5 6 - 5 9

United States of America
1 y<i Percent Treasury Notes
of Series A - 1 9 4 8

Dated March 15, 1944

Dated February 1, 1944
Due September 15, 1959
Additional Issue

ated February 1, 1944
Due March 15, 1970
Additional Issue

Due September 15, 1948

Fiscal Agent of the United States
Government Bond Department—1st Floor
Federal Reserve P. 0 . Station, New York 7, N. Y .

EDERAL RESERVE B A N K OF N E W YORK,

1944

Pursuant to the provisions of the appropriate Treasury Department Circular, please enter subscription for the issue
idicated below in face amount as follows:
F o r own account

For customers ( f o r use of banking institutions)

Total subscription

Banks which accept demand deposits may not sub-1
scribe f o r own account to 2 % % Treasury Bonds
! of 1965-70 or 2 % % Treasury Bonds of 1956-59.
( List of customers, whose applications are included )
( in this subscription, must be entered on reverse side. 3

(A Separate Application Should Be Submitted For Each Issue Applied For—Chech One)
• 2 % Percent Treasury Bonds of 1956-59
Dated February 1, 1944
Due September 15, 1959

2Vz Percent Treasury Bonds of 196S-70
Due March 15, 1970
Dated February 1, 1944
$

face amount

] 1

Percent Treasury Notes of
Series A - 1 9 4 8
Dated March 15, 1944
Due September 15, 1948

face amount
per $1,000 face amount

per $1,000 face amount

Available in coupon or registered form
Lowest denomination $ 5 0 0

Available in coupon form only
Lowest denomination $ 1 , 0 0 0

In payment therefor the undersigned tenders a like face amount of 1 Percent Treasury Notes of Series B - 1 9 4 4 , due
^arch 15, 1944, as follows:
To be delivered to you
To be withdrawn from
for our account by.
elivered to
securities held by you
>u herewith $
f o r our account
$
$
Payment of accrued interest indicated above, if any, is made as follows:
| | B y check or cash herewith

j B y charge to our Reserve Account which is hereby authorized (For use of member banks only)

Issue and dispose of the securities allotted on this subscription as follows :*
] Registered bonds inscribed as indicated in schedule on reverse
side.
! Coupon securities in denominations indicated below:
Par Value

Pieces

Leave Blank

$500
1,000
5,000

D e l i v e r Over t h e COUllter t o t h e U n d e r s i g n e d

•

2. Ship to the undersigned

•

3. Hold in safekeeping (for member bank only)

•

4. Hold as collateral for War Loan deposits

•

5. Special instructions:

10,000
100,000
1,000,000

Total
I M P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
r each group of securities as to which different delivery instructions are given.
The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
spose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
Application
submitted b y
SUBSCRIBER:
Please indicate if this is a confirmation.

YES..

By.

NO.

Street address

(Fill in all required spaces before signing)
(Please Print)
(Official signature required)

(Title)

City, Town or Village, P. O. No., and State.
Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken from Vault-

Delivery Receipt
Securities
received b y -

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

Counted
Checked
Delivered

Subscriber.

Checked b y —
Date..

• Do not apply for both registered bonds and coupon bonds on a single application.

By-

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE FOREGOING SUBSCRIPTION
Name of Customer

Address

Amount

Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
jW
D o not
use this
space

Names and addresses must be printed or typewritten.

Name in which bonds of this issue shall be registered, and postoffice address for interest checks and mail.

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

$1,000

$5,000

$10,000

$100,000

$1,000

USE THIS FORM WHEN

PERCENT

I Subscriber's
j Reference No.

RECONSTRUCTION FINANCE
NOTES OF SERIES W

CORPORATION
Application No.

Due April 15, 1944
ARE TENDERED IN PAYMENT
( C o u p o n s dated April 15, 1944 m u s t be attached)

EXCHANGE SUBSCRIPTION
United States of America
2V2 Percent Treasury Bonds
of 1 9 6 5 - 7 0
Dated F e b r u a r y 1, 1944

United States of America
214 Percent Treasury Bonds
of 1 9 5 6 - 5 9

D u e M a r c h IS, 1 9 7 0

Dated F e b r u a r y 1, 1944

Additional I s s u e

United States of America
1 Yz Percent Treasury Notes
of Series A - 1 9 4 8

D u e September 15, 1959

Dated M a r c h 16, 1944

Due September 15, 1948

Additional Issue

Fiscal Agent of the United States
Government Bond Department—1st Floor
Federal Reserve P. 0 . Station, New York 7, N. Y .

FEDERAL RESERVE B A N K OP N E W YORK,

., 1944

Pursuant to the provisions of the appropriate Treasury Department Circular, please enter subscription for the issue
indicated below in face amount as follows:
F o r own account.

/Banks which accept demand deposits may not sub-)
)scribe f o r own account to 2 V 2 % Treasury Bonds)
|of 1965-70 or 2 % % Treasury Bonds of 1956-59.)

F o r customers ( f o r use of b a n k i n g institutions)

\ ¥1S\ , o f customers, whoso applications are included I
( i n tins subscription, must be entered on reverse side. )

Total subscription

(A Separate Application Should Be Submitted For Each Issue Applied For—Check One)
[ ] 2 Yz Percent Treasury Bonds of 1 9 6 5 - 7 0
D a t e d F e b r u a r y 1, 1944

D u e M a r c h 15, 1 9 7 0

[ ] 2 y 4 Percent Treasury Bonds of 1956-59
Dated F e b r u a r y 1, 1944

[ ] 1

Dated M a r c h 15, 1944

face amount

accrued interest at $2.9533
per $1,000 face amount

accrued interest at $2.65797
per $1,000 faco amount

Available in coupon or registered form
Lowest denomination $ 5 0 0

Percent Treasury Notes of
Series A - 1 9 4 8

Due September 15, 1959

Available in coupon or registered form
Lowest denomination $ 5 0 0

Due September 15, 1948

face amount
Available in coupon form only
Lowest denomination $ 1 , 0 0 0

In payment therefor the undersigned tenders a like face amount of 1 Percent Reconstruction Finance Corporation
Notes of Series W , due April 15,1944, as follows:
To be delivered to you
for our account by....

To be withdrawn from
securities held by you
for our account
$

Delivered to
you herewith $

Y o u are authorized to charge the amount of accrued interest indicated above, if any, against the amount of final interest
to March 15, 1944, due on the notes tendered in payment, and to remit the balance.
Issue and dispose of the securities allotted on this subscription as follows:*
1-

•

Registered bonds inscribed as indicated in schedule on reverse
side.
j [ Coupon securities in denominations indicated below:
Par "Value

Pieces

Leave Blank

$500
1,000
5,000

D e l i v e r Over t h e c o u n t e r t o t h e u n d e r s i g n e d

•

2. Ship to the undersigned

•

3. Hold in safekeeping (for member bank only)

•

4. Hold as collateral for "War Loan deposits

•

5. Special instructions:

10,000
100,000
1,000,000
Total
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.
The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
dispose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
(Fill in all required spaces before signing)
/

Application
submitted by

PTC S U B S C R I B E R :
i

(Please Print)

B y

Please indicate if this is a confirmation.

(Official signature required)

Y E S

NO....:

(Title)

Street address
City, Town or Village, P. O. No., and State.

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken f r o m Vault-

Delivery Receipt
Securities
received b y -

R e c e i v e d f r o m FEDERAL RESERVE B A N K OF N E W YORK t h e a b o v e d e s c r i b e d

United States Government obligations in the amount indicated above.

Counted
Checked
Delivered

Subscriber.

Checked b y Date.

* Do not apply for both registered bonds and coupon bonds o n a single application.

By.

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE FOREGOING SUBSCRIPTION
Name of Customer

Address

Amount

Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
ESP Names and addresses must be printed or typewritten.
D o not
use this
space

Name in which bonds of this issue shall be registered, and postoffice address f o r interest checks and mail.

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

$1,000

$10,000

$5,000

$100,000

$1,000,

USE THIS FORM WHEN

3 PERCENT FEDERAL F A R M M O R T G A G E
BONDS OF 1944-49

I Subscriber's
j Reference No.

CORPORATION

Called for Redemption on May 15, 1944
ARE TENDERED IN PAYMENT

Application No.

( C o u p o n s dated M a y 15, 1944, and all subsequent c o u p o n s m u s t be a t t a c h e d )

EXCHANGE SUBSCRIPTION
United States of America
2 V4 Percent Treasury Bonds
o ' 1956-59

United States of America
2Vg Percent Treasury Bonds
of 1 9 6 5 - 7 0
Dated F e b r u a r y 1, 1944

Dated F e b r u a r y 1, 1944

Due M a r c h 15, 1970

United States of America
1V2 Percent Treasury Notes
of Series A - 1 9 4 8

Due September 15, 1959

Dated March 15, 1944

Due September 15, 1948

Additional Issue

I FEDERAL RESERVE B A N K OF N E W YORK, Fiscal Agent of the United States

Government Bond Department—1st Floor
Federal Reserve P. 0 . Station, New York 7, N. Y.

., 1944

Pursuant to the provisions of the appropriate Treasury Department Circular,, please enter subscription for the issue
I indicated below in face amount as follows:
For own account

F o r customers ( f o r use of b a n k i n g institutions)

Total subscription

Banks which acccpt demand deposits may not sub-)
scribe for own account to 2 y 2 % Treasury Bonds>
of .1965-70 or 2 % % Treasury Bonds of 1956-59.)
{ T j i s J t , o f customers, whose applications are included\
( i n tins subscription, must be entered 011 reverse side. J

(A Separate Application Should Be Submitted For Each Issue Applied For—Check One)
J 2»/i Percent Treasury Bonds of 1965-70
Dated F e b r u a r y 1, 1944

Due M a r c h 15, 1970

i 2^4 Percent Treasury Bonds of 1956-59
Dated F e b r u a r y 1, 1944

D u e September 15, 1959

face amount

accrued interest at $7.09732
per $1,000 face amount

accrued interest at $6.38759
per $1,000 face amount

Dated March 15, 1944

Available in coupon or registered form
Lowest denomination $ 5 0 0

Percent Treasury Notes of
Series A - 1 9 4 8
Due September 15, 1948

face amount

accrued interest at $2.48641
per $1,000 face amount
Available in coupon form only
Lowest denomination $1,000

In payment therefor the undersigned tenders a like face amount of 3 Percent Federal Farm Mortgage Corporation Bonds
of 1944-49, called for redemption on May 15, 1944, as follows (Do not submit registered and coupon bonds on a single
application) :
,
.,, ,
To be delivered to you
rn
P
To be withdrawn from
.. „
, „
_ ,.
, ,
... • , , , ,
lor our account by
Delivered to
securities held by you
f o r our account
$
$
you herewith 1>
You are authorized to charge the amount of accrued interest indicated above against the amount of final interest due on
the securities tendered in payment and to remit the balance. It is understood that the balance due in respect of registered
bonds tendered in payment will not be remitted until discharge of registration by the Treasury Department.
Issue and dispose of the securities allotted on this subscription as follows :*
[J

Registered bonds inscribed as indicated in schedule on reverse
side.
Coupon securities in denominations indicated below:
Par Value

Pieces

Leave Blank

$500

D e l i v e r Over t h e COUlltei* t o the U n d e r s i g n e d

•

2. Ship to the undersigned

•

3. Hold in safekeeping (for member bank only)

| | 4. Hold as collateral for War Loan deposits

1,000
fl

5,000

Special instructions:

10,000
100,000
1,000,000
Total
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.
The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
lispose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
j

(Fill in all required spaces before signing)

Application
submitted by
'O

SUBSCRIBER:

YES.

Please indicate if this is a confirmation.

NO...

(Please Print)

(Official signature required)

(Title)

Street address
City, Town or Village, P. O. No., and State.

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken from Vault-

Delivery Receipt
Securities
received b y -

C<".'inted
Checked
Delivered

R e c e i v e d f r o m FEDERAL RESERVE B A N K OP N E W YORK t h e a b o v e d e s c r i b e d

United States Government obligations in the amount indicated above.
Subscriber.

Checked b y Date.

* D o not apply f o r both registered bonds and c o u p o n bonds o n a single application.

By.

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE FOREGOING SUBSCRIPTION
Name of Customer

Address

Amount

Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
H^W Names and addresses must be printed or typewritten.
D o not
use this
space

N a m e in which bonds of this issue sha!l be registered, and postoffice address for interest checks and mail.

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

$1,000

$5,000

$10,000

I $100,000

$1,00(

USE THIS FORM WHEN

3 PERCENT HOME OWNERS' LOAN CORPORATION BONDS
SERIES A-1944-52

I Subscriber's
j Reference No.

Called for Redemption on May 1, 1944
ARE TENDERED IN PAYMENT

Application No.

( C o u p o n s dated M a y 1, 1944 and all s u b s e q u e n t c o u p o n s m u s t be a t t a c h e d )

EXCHANGE SUBSCRIPTION
United States of America
2V2 Percent Treasury Bonds
of 1965-70
)ated F e b r u a r y 1, 1944

United States of America
2 V4 Percent Treasury Bonds
of 1956-59
Dated F e b r u a r y 1, 1944

D u e M a r c h 15, 1970

United States of America
1V2 Percent Treasury Notes
of Series A-1948

Due September 15, 1959

Dated March 15, 1944

Due September 15, 1948

Additional Issue

Fiscal Agent'of the United States
Government Bond Department—1st Floor
Federal Reserve P. 0. Station, New York 7, N. Y.

FEDERAL RESERVE B A N K OF N E W YORK,

1944

Pursuant to the provisions of the appropriate Treasury Department Circular, please enter subscription for the issue
ndicated below in face amount as follows:

For own account.
F o r customers ( f o r use of b a n k i n g institutions)

Total subscription

Banks which accept demand deposits may not sub-)
scribe for own account to 21/2% Treasury Bonds \
of 1965-70 or 2 % % Treasury Bonds of 1956-59.)

( W . . o f customers, whose applications are included \
I in this subscription, must be entered on reverse side, j

(A Separate Application Should Be Submitted For Each Issue Applied For—Check One)
•

•

2 y z Percent Treasury Bonds of 1 9 6 5 - 7 0
Dated F e b r u a r y 1, 1944

Due M a r c h 15, 1970

D u e September 15, 1959

facc amount

face amount

accrued interest at $6.14623
per $1,000 face amount

accrued interest at $5.53161
per $1,000 face amount

Available in coupon or registered form
Lowest denomination $ 5 0 0

~] 1 % Percent Treasury Notes of
Series A - 1 9 4 8

2 % Percent Treasury Bonds of 1956-59

Dated F e b r u a r y 1, 1944

Dated March 15, 1944

Due September 15* 1948

face amount

;

accrued interest at $1.91576
per $1,000 face amount

Available in coupon or registered form
Lowest denomination $ 5 0 0

Available in coupon form only
Lowest denomination $ 1 , 0 0 0

Iii payment therefor the undersigned tenders a like face amount of 3 Percent Home Owners' Loan Corporation Bonds,
Series A-1944-52, called for redemption on May 1, 1944, as follows (Do not submit registered and coupon bonds on a
ingle application) :
.
,
„
To be delivered to you
rn
J o be withdrawn from
.
a
f o r QUr & < s m m t /
•elivered to
securities held by you
on herewith $
for our account
$
$
You are authorized to charge the amount of accrued interest indicated above against the amount of final interest due on
le securities tendered in payment and to remit the balance. It is understood that the balance due in respect of registered bonds
ndered in payment will not be remitted until discharge of registration by the Treasury Department.
Issue and dispose of the securities allotted on this subscription as follows:*
J Registered bonds inscribed as indicated in schedule on reverse
side.
Coupon securities in denominations indicated below:
Par Value

Pieces

[ ] 1.

D e l i v e r 0V61" t h e COUllter t o t h e U n d e r s i g n e d

[ j 2. Ship to the undersigned

Leave Blank

$500
1,000

3. Hold in safekeeping (for member bank only)

4. Hold as collateral for War Loan deposits

[~j 5. Special instructions:

5,000
10,000
100,000
1,000,000
Total
,r

IMPORTANT: No changes in delivery instructions will be accepted. A separate subscription must be submitted
group of securities as to which different delivery instructions are given.

each

The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
\pose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
(Fill in all required spaces before signing)

Application
submitted by
1) S U B S C R I B E R :

YES..

Please indicate if this is a confirmation.

NO.

(Please Print)

(Official signature required)

(Title)

Street address
City, Town or Village, P. O. No., and State.

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken from Vault-

Delivery Receipt
Securities
received b y -

Counted
Checked
Delivered

R e c e i v e d f r o m FEDERAL RESERVE B A N K OF N E W YORK t h e a b o v e d e s c r i b e d

United States Government obligations in the amount indicated above.
Subscriber.

Checked b y Date.

* D
o not apply f o r both registered bonds and c o u p o n bonds o n a single application.

By.

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE FOREGOING SUBSCRIPTION
Name of Customer

Address

Amount

Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
Names and addresses must be printed or typewritten.
D o not
use this
space

I
Name in which bonds of this issue shall be registered, and postoffice address for interest checks and mail,

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

$1,000

(

$5,000

$10,000

$100,000

$1,0

USE THIS FORM WHEN

PERCENT T R E A S U R Y

31/4

BONDS

1944-46

Called for Redemption on April 15, 1 9 4 4
A R E TENDERED IN PAYMENT

Subscriber's
Reference No.

Application No.

( C o u p o n s dated April 15, 1944, and all subsequent c o u p o n s m u s t b e a t t a c h e d )

EXCHANGE SUBSCRIPTION
United States of America
2Vz Percent Treasury Bonds
of 1 9 6 5 - 7 0
ated F e b r u a r y 1, 1944

United States of America
2V4 Percent Treasury Bonds
of 1956-59

Due March 15, 1970

Dated Febtuary 1, 1944

Additional Issue

United States of America
1 Ya Percent Treasury Notes
of Series A - 1 9 4 8

Due September IS, 1959

Dated March 15, 1944

Due September IS, 1946

Additional Issue

Fiscal Agent of the United States
Government Bond Department—1st Floor
Federal Reserve P. 0 . Station, New York 7, N. Y .

"EDEKAL RESERVE B A N K OF N E W Y O R K ,

1944

Pursuant to the provisions of the appropriate Treasury Department Circular, please enter subscription for the issue
idicated below in face amount as follows:
For

own

/ R a n k s which accept demand deposits may not sub-)
J scribe f o r own account to
Treasury Bondsf
( o f 1965-70 or 2%%
Treasury Bonds of 1956-59.)

( L i s t of customers, whose applications are included)
\ in this subscription, must be entered on reverse side, j

(

account

F o r c u s t o m e r s ( f o r use of b a n k i n g institutions)

Total subscription

(A Separate Application Should Be Submitted For Each Issue Applied For-—Check One)
2Va Percent Treasury Bonds of 1 9 6 5 - 7 0
Dated F e b r u a r y 1, 1944

Due M a r c h IS, 1970

•

2 ' / 4 Percent Treasury Bonds of 1 9 5 6 - 5 9

Dated F e b r u a r y 1, 1944

face amount

Percent Treasury Notes of
Series A - 1 9 4 8

Dated March 15, 1944

face amount

accrued interest at $5.05927
per $1,000 face amount
Available in coupon or registered form
Lowest denomination $ 5 0 0

Due September 15, 1959

Due September IB, 1946

face amount

accrued interest at $4.55335
per $1,000 face amount
Available in coupon or registered form
Lowest denomination $ 5 0 0

accrued interest at $1.26359
per $1,000 face amount
Available in coupon form only
Lowest denomination $ 1 , 0 0 0

111 payment therefor the undersigned tenders a like face amount of 3 l / t Percent Treasury Bonds of 1944-46, called for
demption on April 15, 1944, as follows ( D o not submit registered and coupon bonds on a single application):
To be delivered to yon
for our account by....

To be withdrawn from
securities held by you
for our account
$

jlivercd to
u herewith $

You are authorized to charge the amount of accrued interest indicated above against the amount of final interest due on
e securities tendered in payment and to remit the balance. It is understood that the balance due in respect of registered
»nds tendered in payment will not be remitted until discharge of registration by the Treasury Department.
Issue and dispose of the securities allotted on this subscription as follows:*
Registered bonds inscribed as indicated in schedule on reverse

[ J 1. Deliver over the counter to the undersigned

side.
Coupon securities in denominations indicated below:

•

2. Ship to the undersigned

•

3. Hold in safekeeping (for member bank only)

Par Value

Pieces

Leave Blank

$500

[ J 4. Hold as collateral for W a r Loan deposits

1,000

•

5,000

5. Special instructions:

10,000
100,000
1,000,000
Total

I M P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
each group of securities as to which different delivery instructions are given.

The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
Vose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
/

(Fill in all required spaces before signing)

Application
submitted by
By.

SUBSCRIBER:
lease indicate if this is a confirmation.

YESNO.

(Please Print)
(Official signature required)

(Title)

Street address
City, Town or Village, P . O. No., and State.

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken from Vault-

Delivery Receipt
Securities
received b y -

R e c e i v e d f r o m FEDKRAL RESFRVE B A N K OP N E W YORK t h e a b o v e d e s c r i b e d

United States Government obligations in the amount indicated above.

Counted
Checked
delivered

Subscriber..

Checked b y Date.

* Do not apply for both registered bonds and coupon bonds o n a single application.

By.

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE FOREGOING SUBSCRIPTION
Name of Customer

Address

Amount Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
K^3* Names and addresses must be printed or
Do not
UH this
space

Name in which bonds of this issue shall be registered, and postoffice address for interest checks and mail.

typewritten.

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

| $1,000

$5,000

| $10,000

$100,000

$1,0(

USE THIS FORM WHEN

31/4 PERCENT FEDERAL FARM MORTGAGE CORPORATION
BONDS OF 1944-64

Subscriber's
Reference No.

Called for Redemption on March 15, 1 9 4 4
A R E TENDERED IN PAYMENT
(Coupons dated March 15, 1944 should be detached and collected by subscriber)

Application No.

EXCHANGE SUBSCRIPTION
United States of America
2 Yg Percent Treasury Bonds
of 1965-70

United States of America
21/4 Percent Treasury Bonds
of 1956-59

Dated February 1, 1944
Due March 15, 1970
Additional Issue

Dated February 1, 1944
Due September 15, 1959
Additional Issue

United States of America
1V2 Percent Treasury Notes
of Series A-1948

Dated March 15, 1944

Due September 15, 1948

Fiscal Agent of the United States
Government Bond Department—1st Floor
Federal Reserve P. 0 . Station, New York 7, N. Y.

FEDERAL RESERVE B A N K OF N E W Y O R K ,

1944

Pursuant to the provisions of the appropriate Treasury Department Circular, please enter subscription for the issue
indicated below in face amount as follows:
„
±>or o w n

account

F o r customers ( f o r use of b a n k i n g institutions)

.
$

/ B a n k s which accept demand deposits may not sub-\
J Siribe for own account to 2 % % Treasury Bonds (
( ' , f 1965-70 or 21A% Treasury Bonds of 1956-59.)

customers, whose applications are included |

I 111 this subscription, must be entered on reverse side. J

Total subscription

(A Separate Application Should Be Submitted For Each Issue Applied For—Check One)
[

•

j 2V 2 Percent Treasury Bonds of 1 9 6 5 - 7 0
Dated February 1, 1944

2i/ 4 Percent Treasury Bonds of 1956-59

Dated February 1, 1944

Due March 15, 1970

Due September 15, 1959

face amount

accrued interest at $2.9533
per $1,000 face amount

accrued interest at $2.65797
per $1,000 face amount

Available in coupon or registered form
Lowest denomination $ 5 0 0

P~| 1 Wt Percent Treasury Notes of
Series A - 1 9 4 8
Dated March 15, 1944
Due September 15, 1948
$

face amount

Available in coupon or registered form
Lowest denomination $ 5 0 0

Available in coupon form only
Lowest denomination $ 1 , 0 0 0

Iii payment therefor the undersigned tenders a like face amount of 3i/i Percent Federal Farm Mortgage Corporation
Bonds of 1944-64, called for redemption on March 15, 1944, as follows (Do not submit registered and coupon bonds on a
single application ) :
i
To be delivered to you
for our account by....

To be withdrawn from .
securities held by you
for our account
$

Delivered to
you herewith $

IF REGISTEREU BONUS ARE TENDEREU IN P A Y M E N T ,
you are authorized to charge the amount of accrued interest indicated
above, if any, against the amount of final interest due on the securities
tendered and to remit the balance upon discharge of registration by
the Treasury Uepartment.

I F COUPON B O N U S A R E T E N U E R E D I N P A Y M E N T , payment of accrued interest indicated above, if any, is made—
p'J B y check or cash herewith
B y charge to our Reserve Account which is hereby authorized
( F o r member banks o n l y ) .

Issue and dispose of the securities allotted on this subscription as follows:*
Registered bonds inscribed as indicated in schedule on reverse
side.
j Coupon securities in denominations indicated below:
Par Value

Pieces

Leave Blank

$500

1,000

i. Deliver over the counter to the undersigned

• 2.
•3
• 4.
•
0.

5,000

Ship to the undersigned
Hold in safekeeping (for member bank only)
Hold as collateral for War Loan deposits
Special instructions:

10,000
100,000
1,000,000
Total
IMPORTANT: No changes in delivery instructions will be accepted. A separate subscription must be submitted
or each group of securities as to which different delivery instructions are given.
The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
spose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
(Fill in all required spaces before signing)
O SUBSCRIBER:
YES
Please indicate if this is a confirmation.

NO.

Application
submitted by
'
By

(Please Print)
(Official signature required)

(Title)

Street address.
City, Town or Village, P . (). No., and Stato.

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken f r o m Vault-

Uelivery Receipt
Securities
received b y -

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

Counted
Checked
Uelivered

Subscriber.

Checked b y Bate.

Digitized for* FRASER
Do not apply for both registered bonds and coupon bonds o n a single application.

By.

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE FOREGOING SUBSCRIPTION
Name of Customer

Address

Amount

Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
(pep1 Names and addresses must be printed or typewritten.
D o not
use this
space

Name in which bonds of this issue shall be registered, and postoffice address f o r interest checks and mail.

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

$1,000

$5,000

$10,000

$100,000

$1,0

USE THIS FORM WHEN

PERCENT T R E A S U R Y

NOTES OF SERIES

A-1944

Due June 15, 1944
ARE TENDERED IN PAYMENT

I Subscriber's
jReferenceNo.

Application No.

( C o u p o n s dated June 15, 1944 m u s t b e a t t a c h e d )

EXCHANGE SUBSCRIPTION
United States of America
2 Yz Percent Treasury Bonds
of 1 9 6 5 - 7 0

United States of America
2 1 /4 Percent Treasury Bonds
of 1 9 5 6 - 5 9

ited F e b r u a r y 1, 1944
Due M a r c h 15, 1970
Additional Issue

United States of America
1Yz Percent Treasury Notes
of Series A - 1 9 4 3

Dated F e b r u a r y 1, 1944
D u e September 15, 1959
Additional Issue

Dated March 15, 1944

Due September 15, 1948

Fiscal Agent of the United States
Government Bond Department—1st Floor
Federal Reserve P. 0 . Station, New York 7, N. Y .

FEDERAL RESERVE B A N K OF N E W YORK,

., .1944

Pursuant to the provisions of the appropriate Treasury Department Circular, please enter subscription for the issue
ndicated below in face amount as follows:
T,-,
for

own

,
account

For customers ( f o r use of banking institutions)
Total subscription

/Banks which accept demand deposits may not sub-)
) scribe for own account to 2 % % Treasury Bonds[
( o f 1965-70 or 2 % % Treasury Bonds of 1956-59.)

(List of customers, whose applications are included)

\ in this subscription, must be entered on reverse side, j

(A Separate Application Should Be Submitted For Each Issue Applied For—Check One)
•

2 y 2 Percent Treasury Bonds of 1 9 6 5 - 7 0
Dated F e b r u a r y 1, 1944

Due M a r c h 15, 1 9 7 0

face amount

[]]] 2 % Percent Treasury Bonds of 1956-59
Dated F e b r u a r y 1, 1944

1 y% Percent Treasury Notes of

Due September 15, 1959

Series A - 1 9 4 8
Dated March 15, 1944

face amount

accrued interest (See instructions on reverse
side with respect to
amount)

accrued interest (See instructions on reverse
side with respect to
amount)
Available in coupon or registered form
Lowest denomination $ 5 0 0

Available in coupon or registered form
Lowest denomination $ 5 0 0

Due September 15, 1948

face amount

accrued interest (See instructions on reverse
side with respect to
amount)
Available in coupon form only
Lowest denomination $ 1 , 0 0 0

In payment therefor the undersigned tenders a like face amount of % Percent Treasury Notes of Series A-1944, due
une 15, 1944, as follows:
,
,
„
To be delivered to you
m
T o be wxthdrawn from
,
,
f o r Qur a c c m m t b
)ehveredto
securities held by you
ou herewith $
for our account
$
$
The undersigned elects that interest accrued on the notes tendered in payment, and on the securities to be issued, shall be
djusted as of
, 1944 (See instructions on reverse side). The amount of final interest to the date last mentioned,
ue on the notes tendered in payment, is to be applied in payment of the amount of accrued interest indicated above, if any,
nd the remaining balance of such accrued interest, if any, is paid as follows:
| | By cash or check herewith

By charge to our Reserve Account which is hereby authorized (Member Banks only)

Issue and dispose of the securities allotted on this subscription as follows:*
Registered bonds inscribed as indicated in schedule on reverse
side.
Coupon securities in denominations indicated below:
Par Value

Pieces

Leave Blank

$500
1,000
5,000

D e l i v e r o v e r the Counter to the u n d e r s i g n e d

•

2. Ship to the undersigned

r ] 3. Hold in safekeeping (for member bank only)
•

4. Hold as collateral for W a r Loan deposits

5. Special instructions:

10,000
100,000
1,000,000
Total
I M P O R T A N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted
or each group of securities as to which different delivery instructions are given.
The undersigned, if a bank or trust company, hereby certifies that the securities which you are hereby or hereafter instructed to
ispose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned.
(Fill in all required spaces before signing)
Application
submitted b y .
(Please Print)

b SUBSCRIBER:
t
!
Please indicate if this is a confirmation.

YES.
NO...

By.

(Title)

(Official signature required)

Street address.
City, Town or Village, P. O. No., and State.

Spaces below are for the use of the Federal Reserve Bank of New York
Released
Taken from VaultCounted
Checked
Delivered

Delivery Receipt
Securities
received b y -

R e c e i v e d f r o m FEDERAL RESERVE B A N K OF N E W YORK t h e a b o v e d e s c r i b e d

United States Government obligations in the amount indicated above.
Subscriber.

Checked b y —
Date.

* D
o not apply f o r both registered bonds and c o u p o n bonds o n a single application.

By.

IMPORTANT INSTRUCTIONS:
H o l d e r s of % P e r c e n t T r e a s u r y N o t e s of Series A-1944 tendered in payment f o r
the securities o f f e r e d m u s t specify in the space p r o v i d e d o n the face of this application their election as to whether interest
a c c r u e d on the n o t e s tendered in p a y m e n t , and o n the securities t o be issued, shall be adjusted as of M a r c h 15 1944 or
w h e t h e r such adjustment shall b e m a d e as of June 15, 1944. Interest will be adjusted at the f o l l o w i n g rates per $1 000 face
a m o u n t a c c o r d i n g t o the date e l e c t e d :
'
Date of
Adjustment

M a r c h 15.
June 1 5 . . .

Interest credited
subscriber on
notes tendered

Interest charged
subscriber on
Treasury
Bonds of 1965-70

$1.86475
$3.75

$2.9533
$9.2033

Interest charged
subscriber on
2 % % Treasury
Bonds of 1956-59

Interest charged
subscriber on
114 % Treasury
Notes of Series A-1948

$2.65797
$8.28297

$3.75

LIST OF CUSTOMERS WHOSE APPLICATIONS FOR COUPON SECURITIES
ARE INCLUDED IN THE F O R E G O I N G SUBSCRIPTION
Name of Customer

Address

Amount

Subscribed

(Please print or use typewriter)

SCHEDULE OF REGISTERED BONDS TO BE ISSUED
Names and addresses must be printed or typewritten.
D o not
use this
space

Name in which bond of this issue shall be registered, and postoffice address f o r interest checks and mail.

Indicate under appropriate denominations, number of bonds desired.
Amount

$500

$1,000

$5,000

$10,000

$100,000

SI.