View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE
OF

NEW

BANK

YORK

Fiscal Agent of the United States
rCircular No. 2 9 3 2 T
L
A p r i l 19, 1945
J

Offering of
P e r c e n t T r e a s u r y C e r t i f i c a t e s o f I n d e b t e d n e s s o f Series D - 1 9 4 6
Dated and bearing interest f r o m May 1, 1945

Due May 1, 1946

I n Exchange for
T r e a s u r y C e r t i f i c a t e s o f I n d e b t e d n e s s o f Series D - 1 9 4 5 , M a t u r i n g M a y 1, 1945

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

T h e f o l l o w i n g p r e s s statement w a s t o d a y m a d e p u b l i c :
The Secretary of the Treasury today announced an offering, through the Federal Reserve Banks,
of % percent Treasury Certificates of Indebtedness of Series D-1946, open on an exchange basis, par
for par, to holders of Treasury Certificates of Indebtedness of Series D-1945, maturing May 1, 1945.
Cash subscriptions will not be received.
The certificates now offered will be dated May 1, 1945, and will bear interest from that date at
the rate of seven-eighths of one percent per annum, payable semiannually on November 1, 1945, and
May 1, 1946. They will mature May 1, 1946. They will be issued in bearer form only, 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 certificates now
offered shall not have any exemption, as such, under Federal tax acts now or hereafter enacted. The
full provisions relating to taxability are set forth in the official circular released today.
Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury
Department, Washington, and should be accompanied by a like face amount of the maturing certificates. Subject to the usual reservations, all subscriptions will be allotted in full.
There are now outstanding $1,614,741,000 of the Series D-1945 certificates.
T h e terms o f this o f f e r i n g are set f o r t h in T r e a s u r y D e p a r t m e n t C i r c u l a r N o . 766, dated
A p r i l 19, 1945, c o p y of which is p r i n t e d on the r e v e r s e side.
T h e subscription b o o k s are n o w o p e n a n d a p p l i c a t i o n s will be r e c e i v e d b y this bank as
fiscal agent of the U n i t e d States. Cash subscriptions

will not be received.

Exchange subscrip-

tions should be m a d e o n official s u b s c r i p t i o n blanks a n d mailed i m m e d i a t e l y or, if filed b y
t e l e g r a m o r letter, should b e c o n f i r m e d i m m e d i a t e l y b y mail on the blanks p r o v i d e d .




ALLAN

SPROTJL,

President.
(OVER)

UNITED STATES OF AMERICA
7/s P E R C E N T T R E A S U R Y C E R T I F I C A T E S O F I N D E B T E D N E S S O F S E R I E S D-1946
Dated and bearing interest from May 1, 1945

Due May 1, 1946

1945
Department Circular No. 766

TREASURY

DEPARTMENT,

OFFICE OF THE SECRETARY,

Fiscal Service
Bureau of the Public Debt

Washington, April 19, 1945.
I.

OFFERING OF

CERTIFICATES

1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended,
invites subscriptions, at par, from the people of the United States for certificates of indebtedness of the United
States, designated % percent Treasury Certificates of Indebtedness of Series D-1946, in exchange for Treasury
Certificates of Indebtedness of Series D-1945, maturing May 1, 1945.
II.

DESCRIPTION

OF

CERTIFICATES

1. The certificates will be dated May 1, 1945, and will bear interest from that date at the rate of % percent
per annum, payable semiannually on November 1, 1945, and May 1, 1946. They will mature May 1, 1946, 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.
payment of taxes.

They will not be acceptable in

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.

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, 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.
IV.

PAYMENT

1. Payment at par for certificates allotted hereunder must be made on or before May 1, 1945, or on later
allotment, and may be made only in Treasury Certificates of Indebtedness of Series D-1945, maturing May 1,
1945, which will be accepted at par, and should accompany the subscription.
V.

GENERAL

PROVISIONS

1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive
subscriptions, to make allotments on the basis and up to the amounts indicated by the Secretary of the Treasury
to the Federal Reserve Banks of the respective Districts, to issue allotment notices, to receive payment for
certificates allotted, to make delivery of certificates on full-paid subscriptions allotted, and they may issue
interim receipts pending delivery of the definitive certificates.
2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplemental or amendatory rules and regulations governing the offering, which will be communicated promptly to the Federal
Reserve Banks.




HENRY MORGENTHAU, JR..
Secretary of the Treasury.

Subscriber's Reference N o .

Application Number

EA-CS

U n i t e d S t a t e s of A m e r i c a % p e r c e n t T r e a s u r y Certificates of I n d e b t e d n e s s o f Series
D - 1 9 4 5 m a t u r i n g M a y 1, 1 9 4 5 m u s t b e t e n d e r e d in p a y m e n t f o r this subscription.

EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA %

PERCENT

TREASURY

CERTIFICATES

OF

INDEBTEDNESS

O F S E R I E S D-1946, D A T E D M A Y 1, 1945, D U E M A Y 1, 1946

Important
in full.

1.

S u b j e c t to the reservations in T r e a s u r y Department Circular N o . 7 6 6 , dated April 19, 1 9 4 5 , all subscriptions will be allotted

2 . C o u p o n s maturing May 1, 1 9 4 5 , should b e detached f r o m the certificates of Series D - 1 9 4 5 which are tendered in p a y m e n t
and c o l l e c t e d in the usual manner.
FEDERAL RESERVE B A N K OF N E W Y O R K ,

Fiscal Agent of the United States,
Government Bond Department—2nd F l o o r :

Dated at.
.1945

DEAR SIRS :

Subject to the provisions of Treasury Department Circular No. 766, dated April 19, 1945, the undersigned hereby
subscribes f o r United States of America % percent Treasury Certificates of Indebtedness of Series D-1946 as stated below:
F o r own account

$

For our customers ( f o r use of banking institutions) as shown on reverse side of this form

$

Total Subscription

$

and tenders in payment therefor a like par amount of United States of America % percent Treasury Certificates of
Indebtedness of Series D-1945, maturing May 1, 1945, as follows:
,
„
To be delivered to you
m
To be withdrawn from
u,r
f o r °U1 aCC0Unt b y
Delivered to
securities held by you
you herewith $
for our account
$
$
Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below
DENOMINATIONS

Pieces

Par Value

$

•
Leave

1,000

Blank

1. Deliver over the counter to the undersigned

•

2. Ship to the undersigned

•

3. Hold in safekeeping (for member bank only)

5,000

•

4. Hold as collateral f o r War Loan deposits

10,000

•

5. Special instructions:

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.
(Till in all required spaces before signing)
Application submitted

by.
( P l e a s e print)

TO SUBSCRIBER:
Please indicate if this is a confirmation.

YES.
NO...

By

( O f f i c i a l iignature 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
Delivery Receipt

Released
Taken f r o m VaultCounted
Checked
Delivered




Securities
received b y -

Rcceived from FEDERAL RESERVE BANK OK NEW YORK the above described
United States Government obligations in the amount indicated above.
Subscriber.

Chocked b y -

Date.

By.

List of customers whose applications are included in the foregoing subscription

Amount Subscribed




Name of Customer
(Please print or use

typewriter)

Address

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