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FEDERAL RESERVE BANK
O F N E W YORK
Fiscal A g e n t of the United States
r Circular No. 2 9 8 9 1
L August 20, 1945 J
OFFERING OF
% Percent Treasury Certificates of Indebtedness of Series G-1946
Dated and bearing interest f r o m September 1, 1945
Due September 1, 1946
IN E X C H A N G E F O R
% Percent Treasury Certificates of Indebtedness of Series F-1945, Maturing September 1, 1945
or
2 % Percent Treasury Bonds of 1945-47 Called for Redemption on September 15, 1945
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 Vinson today announced the offering, through the Federal Reserve
Banks, of one-year Treasury Certificates of Indebtedness of Series G-1946, in exchange f o r Treasury
Certificates of Indebtedness of Series F-1945, maturing September 1, 1945, and Treasury Bonds of
1945-47, called f o r redemption on September 15, 1945. Exchanges will be made par f o r par in the case
of the maturing certificates, and at par with an adjustment of interest as of September 15, 1945 in the
case of the called bonds. Cash subscriptions will not be received.
The certificates now offered will be dated September 1, 1945, and will bear interest from that date
at the rate of seven-eighths of one percent per annum, payable semiannually on March 1 and September 1,
1946. They will mature September 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.
Although the called bonds are outstanding in denominations of $50 to $100,000, inclusive, exchanges
may be made only in amounts or multiples of $1,000, since this is the lowest denomination in which the
new certificates will be available.
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 securities to be
exchanged and, where called bonds in coupon f o r m are presented, by payment of accrued interest at
the rate of $0.3384 per $1,000. Subject to the usual reservations, all subscriptions will be allotted in
full.
The subscription books will close at the close of business Wednesday, August 22, except for the
receipt of subscriptions f r o m holders of $100,000 or less of the maturing certificates or the called bonds.
The subscription books will close f o r the receipt of subscriptions of the latter class at the close of business Saturday, August 25.
There are now outstanding $3,693,537,000 of the maturing certificates and $1,214,428,950 of the
called bonds.
The terms of this offering are set forth in Treasury Department Circular No. 774, dated
August 20,1945, copy of which is 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.
AJXAN
SPROUL,
President.
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 G-1946
Dated and bearing interest f r o m September 1, 1945
Due September 1, 1946
1945
Department Circular No. 774
TREASURY
DEPARTMENT,
OFFICE OF THE SECRETARY,
Fiscal Service
Bureau of the Public Debt
Washington,
I.
OFFERING OF
August
20, 1945.
CERTIFICATES
1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended,
invites subscriptions from the people of the United States f o r certificates of indebtedness of the United States,
designated % percent Treasury Certificates of Indebtedness of Series G-1946, in exchange f o r Treasury
Certificates of Indebtedness of Series F-1945, maturing September 1, 1945, or Treasury Bonds of 1945-47, called
f o r redemption on September 15, 1945. Exchanges will be made par f o r par in the case of the maturing certificates, and at par with an adjustment of interest as of September 15, 1945 in the case of the called bonds.
II.
DESCRIPTION
OF
CERTIFICATES
1. The certificates will be dated September 1, 1945, and will bear interest from that date at the rate of
~/s percent per annum, payable semiannually on March 1 and September 1, 1946. They will mature September
1, 1946, and will not be subject to call f o r 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 f r o m 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 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 f o r certificates allotted hereunder must be made on or before September 1, 1945. Payment
of the principal amount may be made only in Treasury Certificates of Indebtedness of Series F-1945, maturing
September 1, 1945, or in Treasury Bonds of 1945-47, called f o r redemption on September 15, 1945, which will - ^
be accepted at par and should accompany the subscription. I n the case of the called bonds in coupon form,
payment of accrued interest on the new certificates f r o m September 1, 1945, to September 15, 1945 ($0.3384 per
$1,000) should be made when the subscription is tendered and in the case of registered bonds, the accrued interest will be deducted from the amount of the check which will be issued in payment of final interest on the bonds
surrendered. Final interest due September 15 on bonds surrendered will be paid, in the case of coupon bonds,
by payment of September 15, 1945 coupons, which should be detached by holders before presentation of the
bonds, and in the ease of registered bonds, by checks drawn in accordance with the assignments on the bonds
surrendered.
V.
SURRENDER OF CALLED
BONDS
1. Coupon bonds.—Treasury
Bonds of 1945-47 in coupon form tendered in payment for certificates 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 March 15, 1946, 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 1945-47 in registered form tendered in payment for certificates
offered hereunder should be assigned by the registered payees or assignees thereof to " T h e Secretary of the
Treasury f o r exchange for Treasury Certificates of Indebtedness of Series G-1946 to be delivered to
" , in accordance with the general regulations of the Treasury Department
governing assignments f o r transfer or exchange, 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. 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 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 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.
F R E D M. VINSON,
Secretary of the
Treasury.
Subscriber's Reference No.
Application Number
E-L
AB C
For use when United States of America % percent Treasury Certificates of Indebtedness of Series F-1945 maturing September 1, 1945 are tendered in payment.
—
—
1
•
-•
EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES G-1946, DATED SEPTEMBER 1, 1945, DUE SEPTEMBER 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 D e p a r t m e n t C i r c u l a r No. 7 7 4 , dated A u g u s t 2 0 , 1 9 4 5 , all subscriptions will be allotted
2. C o u p o n s maturing S e p t e m b e r 1, 1 9 4 5 , should b e d e t a c h e d f r o m the certificates o f Series F - 1 9 4 5 w h i c h are tendered
p a y m e n t and c o l l e c t e d in the usual manner.
FEDERAL
RESERVE
BANK
OP N E W
in
YORK,
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. 774, dated August 20, 1945, the undersigned-hereby
subscribes f o r United States of America % percent Treasury Certificates of Indebtedness of Series G-1946 as stated below :
F o r own account
$
Fur 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 F-1945, maturing September 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
you herewith $
f o r 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 ( f o r 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
for each group of securities as to which different delivery instructions are given.
T h e u n d e r s i g n e d , if a b a n k or trust c o m p a n y , h e r e b y certifies that the securities which y o u are h e r e b y or h e r e a f t e r instructed
t o d i s p o s e o f in the manner i n d i c a t e d in items n u m b e r e d 3 and 4 a b o v e are the sole p r o p e r t y of the undersigned.
(Fill in all required spaces before signing)
Application submitted b y .
TO S U B S C R I B E R :
Please indicate if this is a confirmation.
)
(Please print)
YESNO....
By
( O f f i c i a l signature required)
(Title)
Street address
City, Town or Village, P. O. No., and State.
S p a c e s b e l o w are f o r the use o f the Federal R e s e r v e Bank o f N e w Y o r k
Released
Delivery Receipt
-
Taken f r o m VaultCounted
Checked
Delivered
Securities
received b y -
Received f r o m
FEDERAL RESERVE B A N K
OF N E W
Subscriber.
Checked bv-
YORK t h e a b o v e
described
United States Government obligations in the amount indicated above.
I).ater,
By.
List of customers whose applications are included in the foregoing subscription
Amount
Subscribed
Name of Customer
(Please print or use typewriter)
Address
Subscriber's Reference No.
Application Number
aaioi
EA-BLC
m
an
qe
ilw 8iJ)moJau3 1
For use when United States of America 2 % percent Treasury Bonds of 1945-47
IN COUPON FORM
called for redemption on September 15, 1945 are tendered in payment.
EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES G-1946, DATED SEPTEMBER 1, 1945, DUE SEPTEMBER 1, 1946
Important
full.
1.
S u b j e c t t o the reservations in T r e a s u r y D e p a r t m e n t Circular No. 7 7 4 , dated A u g u s t 20, 1945, all subscriptions will be allotted
2. C o u p o n s d a t e d S e p t e m b e r 15, 1 9 4 5 , should b e d e t a c h e d f r o m United States o f A m e r i c a 2 %
1 9 4 5 - 4 7 w h i c h are t e n d e r e d in p a y m e n t and c o l l e c t e d in the usual manner.
percent Treasury Bonds
of
3. A c c r u e d interest o n the n e w certificates f r o m S e p t e m b e r 1, 1 9 4 5 t o S e p t e m b e r 15, 1 9 4 5 at the rate o f $ 0 . 3 3 8 4 per $ 1 , 0 0 0
must a c c o m p a n y this subscription.
FEDERAL RESERVE
BANK
OP N E W
Dated at.
YORK,
Fiscal Agent of the United States,
Government Bond Department—2nd F l o o r :
DEAR
.1945
SIRS:
Subject to the provisions of Treasury Department Circular No. 774, dated August 20, 1945, the undersigned hereby
subscribes f o r United States of America % percent Treasury Certificates of Indebtedness of Series G-1946 as stated below:
For own account
For our customers (for 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 2% percent Treasury Bonds of 1945-47
called f o r redemption on September 15, 1945, in coupon form, as follows:
., i
.
To be delivered to you
rn ,
r ° be wxthdrawn f r o m
^ r
, +
;
f o r Qur a c c o u n t b
Delivered to
securities held by you
you herewith $
f o r our account
$
$
Payment of accrued interest from September 1, 1945 to September 15, 1945 on securities allotted is made as indicated
below:
By check and/or cash herewith
By charge to our Reserve Account which is hereby
authorized (For use of member banks only) - - -
Q
||
Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below:
DENOMINATIONS
$
•
•
2. Ship to the undersigned
4. Hold as collateral for W a r Loan deposits
•
Leave Blank
1. Deliver over the counter to the undersigned
•
P a r Value
Pieces
5. Special instructions:
l,tKJ0
5,000
10,000
100,000
1,000,000
Total
I M P O R T A N T : No changes in delivery instructions will be a c c e p t e d . 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 c o m p a n y , hereby certifies that the securities which y o u are hereby or hereafter instructed
to d i s p o s e o f in the manner i n d i c a t e d in items n u m b e r e d 3 and 4 a b o v e are the sole p r o p e r t y o f the undersigned.
(Fill in all required spaces before signing)
Application submitted by
SUBSCRIBER:
(Please print)
Please indicate if this is a confirmation.
YESNO....
By
(Official signature required)
(Title)
Street address
City, Town or Village, P. 0 . No., and State.
S p a c e s b e l o w are f o r the use o f the Federal R e s e r v e Bank o f N e w Y o r k
Released
Taken f r o m Vault-
Delivery Receipt
Securities
received b y -
Counted
Checked
Digitized Delivered
for FRASER
Checked b y -
Received
from
FEDERAL
RESERVE
BANK
OF N E W
YORK
the
above
described
United States Government obligations in the amount indicated above.
Subscriber.
Date.
-
By
List of customers whose applications are included in the foregoing subscription
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Amount
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Subscriber's Reference N o .
Application Number
EA-BLC
For use when United States of America 2 % percent Treasury Bonds of 1945-47
IN REGISTERED FORM
called for redemption on September 15, 1945 are tendered in payment.
EXCHANGE SUBSCRIPTION
FOR UNITED STATES OF AMERICA % PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS
OF SERIES G-1946, DATED SEPTEMBER 1, 1945, DUE SEPTEMBER 1, 1946
Important
in f u l l .
1.
S u b j e c t to the r e s e r v a t i o n s 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 . 7 7 4 , d a t e d A u g u s t 2 0 , 1 9 4 S , all subscriptions will b e a l l o t t e d
2. 2 % p e r c e n t T r e a s u r y B o n d s o f 1 9 4 5 - 4 7 in r e g i s t e r e d f o r m t e n d e r e d in p a y m e n t f o r % p e r c e n t T r e a s u r y Certificates o f
I n d e b t e d n e s s o f S e r i e s G - 1 9 4 6 should b e a s s i g n e d b y the r e g i s t e r e d p a y e e s or assignees t h e r e o f in the manner p r o v i d e d in p a r a graph 2 of Section V of Treasury Department Circular No. 774.
3 . A c c r u e d interest will b e c h a r g e d t o the s u b s c r i b e r on the n e w certificates f r o m S e p t e m b e r 1, 1 S 4 5 t o S e p t e m b e r 15, 1 9 4 5
at the rate of $ 0 . 3 3 8 4 p e r $ 1 , 0 0 0 . T h i s a m o u n t will b e c h a r g e d a g a i n s t the final interest d u e S e p t e m b e r 15, 1 9 4 5 on the 294 p e r c e n t
T r e a s u r y B o n d s o f 1 9 4 5 - 4 7 s u r r e n d e r e d , w h i c h is $ 1 3 . 7 5 p e r $ 1 , 0 0 0 , and the d i f f e r e n c e will b e r e m i t t e d b y us t o the subscriber
u p o n d i s c h a r g e o f r e g i s t r a t i o n o f such b o n d s b y the T r e a s u r y D e p a r t m e n t .
FEDERAL
RESERVE
BANK
OP N E W
Dated at.
YORK,
Fiscal Agent of the United States,
G overnment Bond Department—2nd F l o o r :
DEAR
.1945
SIRS:
Subject to the provisions of Treasury Department Circular No. 774, dated August 20, 1945, the undersigned hereby
subscribes f o r United States of America % percent Treasury Certificates of Indebtedness of Series G-1946 as stated below :
F o r own account
$
For our customers (for 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 2 % percent Treasury Bonds of 1945-47
called f o r redemption 011 September 15, 1945, in registered form, as follows:
,
... ,
.
To be delivered to you
m
To be withdrawn from
for our aecount b
3elivered to
securities held by you
r ou herewith $
f o r our account
$Y o u are authorized to charge the amount of accrued interest from September 1, 1945 to September 15, 1945 011 the
ecurities allotted against the amount of final interest due on September 15,1945 on the registered bonds surrendered, and
u remit the balance upon discharge of registration of such bonds by the Treasury Department.
O
I s s u e a n d d i s p o s e o f t h e s e c u r i t i e s a l l o t t e d o n t h i s s u b s c r i p t i o n i n t h e d e n o m i n a t i o n s a n d a m o u n t s as i n d i c a t e d b e l o w :
DENOMINATIONS
Par Value
Pieces
•
Leare Blank
1. Deliver over the counter to the undersigned
•
2. Ship to the undersigned
1,000
•
3. Hold in safekeeping (for member bank only)
5,000
$
•
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 b e submitted
or each group of securities as to which different delivery instructions are given.
T h e undersigned, if a bank o r trust c o m p a n y , hereby certifies that the securities which y o u are h e r e b y or hereafter instructed
o d i s p o s e o f in the m a n n e r i n d i c a t e d in items n u m b e r e d 3 a n d 4 a b o v e are the s o l e p r o p e r t y o f the u n d e r s i g n e d .
(Fill in all required spaces before signing)
O
Application submitted by
SUBSCRIBER:
Please indicate if this is a confirmation.
YESNO....
By
(Please print)
(Official signature required)
(Title)
Street address.
Clity, Town or "Village, P . O. No., and State.
S p a c e s b e l o w a r e f o r the use o f the F e d e r a l R e s e r v e Bank o f N e w Y o r k
Released
Taken f r o m V a u l t -
Delivery Receipt
Securities
received b y -
Counted
Checked
Delivered
Gbeckod by-
Received
from
FEDERAL
RESERVE B A N K
OF N E W
YORK
the
above
described
United States Government obligations in the amount indicated above.
Subscriber...
Date.
-
By
List of customers whose applications are included in the foregoing subscription
Am aim t Subscr i h e d
Name of Customer
(Please print or use
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