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FEDERAL R E S E R V E BANK OF N E W YORK Fiscal A g e n t of the United States r Circular N o . 2 9 7 7 1 L J u l y 23, 1945 J O F F E R I N G OF % Percent Treasury Certificates of Indebtedness of Series F-1946 Dated and bearing interest from August 1, 1945 Due August 1, 1946 IN E X C H A N G E F O R % Percent Treasury Certificates of Indebtedness of Series E-1945, Maturing August 1, 1945 To all Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following press statement was today made public: The Secretary of the Treasury today announced an offering, through the Federal Reserve Banks, of % percent Treasury Certificates of Indebtedness of Series F-1946, open on an exchange basis, par f o r par, to holders of Treasury Certificates of Indebtedness of Series E-1945, maturing August 1, 1945. Cash subscriptions will not be received. The certificates now offered will be dated August 1, 1945, and will bear interest f r o m that date at the rate of seven-eighths of one percent per annum, payable semiannually on February 1 and August 1, 1946. They will mature August 1, 1946. They will be issued in bearer f o r m only, in denominations of $1,000, $5,000, $10,000, $100,000 and $1,000,000. Pursuant to the provisions of the Public Debt A c t 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 $2,510,959,000 of the Series E-1945 certificates. The terms of this offering are set forth in Treasury Department Circular No. 773, dated July 23, 1945, copy of which is printed on the reverse side. 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. ALLAJT Sprotjl, President. (over) UNITED STATES OF AMERICA 7/8 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 F-1946 Dated and bearing interest from August 1, 1945 Due August 1, 1946 Department'circular No. 773 TREASURY . DEPARTMENT, O F F I C E OF T H E Bureau of°the Public Debt SECRETARY, Washington, I. OFFERING OF July 23, 1945. CERTIFICATES 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty B o n d A c t , as amended, invites subscriptions, at par, f r o m the people of the United States f o r certificates of indebtedness of the United States, designated % percent Treasury Certificates of Indebtedness of Series F-1946, in exchange f o r Treasury Certificates of Indebtedness of Series E-1945, maturing August 1,1945. II. 1. DESCRIPTION OF CERTIFICATES The certificates will be dated August 1, 1945, and will bear interest f r o m that date at the rate of % percent per annum, payable semiannually on February 1 and August 1,1946. They will mature August 1, 1946, and will not be subject to call f o r redemption prior to maturity. 2. The income derived f r o m the certificates shall be subject to all Federal taxes, now or hereafter imposed. The certificates shall be subject to estate, inheritance, g i f t or other excise taxes, whether Federal or State, but shall be exempt f r o m all taxation n o w or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the United States, or b y any local taxing authority. 3. The certificates will be acceptable to secure deposits of public moneys. in payment of taxes. They will not be acceptable 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 f o r m . 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 f o r 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 f o r certificates allotted hereunder must be made on or before August 1, 1945, or on later allotment, and may be made only in Treasury Certificates of Indebtedness of Series E-1945, maturing August 1, 1945, which will be accepted at par, and should accompany the subscription. V. GENERAL PROVISIONS 1. A s fiscal agents of the United States. Federal Reserve Banks are authorized and requested to receive subscriptions, to make allotments on the basis and u p 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 p a y ment f o r 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 f r o m time to time, prescribe supplemental or amendatory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve Banks. D. W . B E L L , Acting Secretary of the Treasury. SuDscriber's Reference JNO. 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 of Series E - 1 9 4 5 m a t u r i n g A u g u s t 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 OF SERIES F-1946, DATED AUGUST 1, 1945, DUE AUGUST 1, 1946 Important n full. 1. Subject to the reservations in Treasury Department Circular No. 773, dated July 23, 1945, all subscriptions will be allotted 2. Coupons maturing August 1, 1945, should be detached from the certificates of Series E-1945 which are tendered in payment and collected 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. 773, dated July 23, 1945, the undersigned hereby subscribes for United States of America % percent Treasury Certificates of Indebtedness of Series F-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 $ md tenders in payment therefor a like par amount, of United States of America % percent Treasury Certificates of ndebtedness of Series E-1945, maturing August 1, 1945, as follows: To be delivered to you To be withdrawn from f o r our account by delivered to securities held by you ou 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 Blank 1,000 • 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 for 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 >r each group of securities as to which different delivery instructions are given. T h e undersigned, if a bank or trust c o m p a n y , h e r e b y certifies that the securities which you are hereby or h e r e a f t e r instructed d i s p o s e of in the manner indicated in items n u m b e r e d 3 and 4 a b o v e a r e the sole property of the undersigned. (Fill in all required spaces before signing) Application D SUBSCRIBER: submitted by (Pler.se p r i n t ) Please indicate if this is a confirmation. YES. NO.... By (Title) (Official signature leijuircd) Street address City, Town or Village, P. 0 . No., and. State. Spaces below are for the use of the Federal Reserve Bank of New York V>BGd k / «<4cen from Vault- Delivery Receipt, Securities received by- Counted DigitizedCheeked for FRASER Dolivered Received from FEDERAL RESERVE B A N K OP N E W Subscriber. Cliecked by- YORK the a b o v e described United States Government obligations in the amount indicated above. Date. By. List of customers whose applications are included in the foregoing subscription A mount Subscribed Name of Customer (Pletst print or use iyptwriter) Address