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FE D E R A L R E S E R V E BANK
OF NEW YORK
Fiscal Agent of the United States

I" Circular N o. 3 4 8 4 ~
1
A u gu st 16, 1949 J

L

TREASURY SAVINGS NOTES, SERIES D
Amendment to Treasury Department Circular No. 833

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

We send you herewith a copy of the First Amendment, dated August 11, 1949,
to Treasury Department Circular No. 833, with respect to Treasury Savings Notes,
Series D, which was described in our Circular No. 3482, dated August 11, 1949.
We also send you herewith copies of a new form G. B. 499.1 entitled “ Applica­
tion for Treasury Savings Notes, Series D ” which should be used hereafter in making
applications to this bank for the purchase of such notes.
Additional copies of the amendment and supplies of the application form will be
furnished upon request.




A

llan

S proul,

President.

UNITED STATES OF AMERICA
TREASURY SAYINGS NOTES
SERIES D

1949
F ir s t A m en d m en t to
D ep a rtm en t C ircu la r N o . 833

Fiscal S ervice
Bureau o f the Public Debt

TR EA SU R Y DEPARTM ENT,
O f f ic e

of

th e

Secretary,

Washington, August 11, 1949.

P A Y M E N T OF ACCRUED INTEREST IN PURCHASING NOTES
1. The first paragraph of section I is amended to read as follows:
1. Offering of notes.— The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, as amended, offers for sale to the people of the United States, at par and accrued
interest from the first day of the month in which purchased to the day, inclusive, on which full pay­
ment is made in cash or other immediately available funds, an issue of notes of the United States,
designated Treasurj* Savings Notes, Series D, which notes, if inscribed in the name of a Federal
taxpayer, will be receivable as hereinafter provided at par and accrued interest in payment of in­
come, estate and gift taxes imposed by the Internal Revenue Code, or laws amendatory or supple­
mentary thereto.
2. The first paragraph of section II is amended to read as follows:
1. General.— Treasury Savings Notes, Series D, will in each instance be dated as of the first
day of the month in which payment, at par and accrued interest, if any, is received and credited by
an agent authorized to issue the notes. They will mature three years from that date, and may not
be called by the Secretary of the Treasury for redemption before maturity. All notes issued dur­
ing any one calendar year shall constitute a separate series indicated by the letter “ D ” followed by
the year of maturity. A t the time of issue the authorized issuing agent will inscribe on the face of
each note the name and address of the owner, will enter the date as of which the note is issued and
will imprint his dating stamp (with current date). The notes will be issued in denominations of
$100, $500, $1,000, $5,000, $10,000, $100,000, $500,000 and $1,000,000. Exchange of authorized
denominations from higher to lower, but not from lower to higher, may be arranged at the office of
the agent that issued the note.
3.

The second paragraph of section III is amended to read as follows:

2. Applications and payment.— Applications will be received by. the Federal Reserve Banks and
Branches, and by the Treasurer of the United States, Washington, D. C. Banking institutions and
security dealers generally may submit applications for account of customers, but only the Federal
Reserve Banks and their Branches and the Treasury Department are authorized to act as official
agencies. The use of an official application form is desirable but not necessary. Appropriate
forms may be obtained on application to any Federal Reserve Bank or Branch, or the Treasurer
of the United States, Washington, D. C. Every application must be accompanied by payment in
full, at par and accrued interest, if any. The amount of accrued interest payable by the purchaser
will be computed at the rate at which interest accrues on the notes ($0.80 per month per $ 1,000 par
amount) for the actual number of days in the month in which the purchase is made. One day’s ac­
crued interest in a 31-day month is $0.02581 per $1,000, in a 30-day month $0.02667, in a 29-day
month $0.02759 and in a 28-day month $0.02857. Any form of exchange, including personal checks,
will be accepted subject to collection, and should be drawn to the order of the Federal Reserve Bank
or of the Treasurer of the United States, as payee, as the case may be. The date funds are made
available on collection of exchange will govern the issue date of the notes. Any depositary, qualified
pursuant to the provisions of Treasury Department Circular No. 92, Revised, as amended, will be
permitted to make payment by credit for notes applied for on behalf of itself or its customers up to
any amount for which it shall be qualified in excess of existing deposits.




JOHN W . SNYDER,
Secretary of the Treasury.

G .B .499 .1-30M -8-49

APPLICATION FOR

TREASURY SAVINGS NOTES, SERIES D
TO: FEDERAL RESERVE BANK OF NEW YORK,
FISCAL AGENT OF THE UNITED STATES,
33 LIBERTY STREET, NEW YORK 45, N. Y.
(GOVERNMENT BOND DEPARTMENT)

u ate.

Pursuant to the terms of Treasury Department Circular No. 833, dated August 17, 1948, as amended, the undersigned submits this application for
the purchase of Treasury Savings Notes, Series D.
PAR AM OUNT AND PAYMENT
Par amount o f notes.................................................
Accrued interest

$.......................................

Payment is being made in the manner indicated below:
□

( S e e other sid e)

By credit to our War Loan Deposit Account
( F o r use by " Qualified D ep ositaries” o n ly .)

.................. days @

$........................... per $1,000 $.......................................

T O T A L AM O U N T OF P A Y M E N T .................

The election to pay by credit will be deemed a certification by the officer who
signs this subscription form that the full amount o f payment due on this subscrip­
tion has been deposited on the date hereof to the credit of the Federal Reserve
Bank o f New York, as fiscal agent o f the United States, W ar Loan Deposit
Account, to be held subject to withdrawal on demand.

$......................................

1 1 By charge to our Reserve Account, which is hereby authorized
INSCRIPTION

( F o r use by m em ber banks on ly )

( P lea se typ e or print below the nam e and address to be inscribed on the notes. I f
space here is not sufficient, use space on rev erse sid e.)

1 1 By cash herewith
1 1 By check payable at the following bank:

(N a m e o f B a n k)
( F o r inform ation concerning fo r m s o f inscription perm itted b y the T rea sury
D ep a rtm ent, referen ce is made to S ection I I , paragraph 4 o f T rea su ry D epartm ent
Circular N o . 8 3 3 , dated A u g u st 17 , 19 4S .)

( L ocation)

DENOMINATIONS

DISPOSITION

The notes are to be issued in the denominations indicated below:
N u m ber
of
P ie c e s

D en om ­
inations

$

Total
P a r A m ou n t

The notes are to be delivered as indicated below:
1 1 Mail to owner at address inscribed on notes

D o N o t U se

[ZJ

10 0

Mail to the bank or security dealer submitting this application

1 1 Deliver over

500

counter to the bank or security dealer submitting this

application

1,0 0 0

1 (Special instructions)

5 ,0 0 0

10 ,0 0 0

1 0 0 ,0 0 0

5 0 0 ,0 0 0

1 ,0 0 0 ,0 0 0

TOTALS

( N o t part o f application)

Signature of
Purchaser ........................................................................................................................................
( N o t required when application is subm itted on behalf o f the
purchaser b y a bank or secu rity dealer.)

D ELIVERY RECEIPT
R eceived from F E D E R A L R E S E R V E B A N K O F N E W YO RK
rea*urjr Saving* N otes, Series D, o f the description and in the
m ount indicated above.

Application
Submitted by .................................................................................................................................
( N a m e o f B ank or S ecu rity D ea ler)

( S tr e e t A d d re ss)
By

...................................................................


e ive d


( C i ty and S ta te)

By.......................................................................................................................
(Official Signature R equ ired)

Checked

Exam ined

R ecorded

(T it le )

PER IO D FOR W H IC H A C C R U E D IN T E R E S T M U S T BE P A ID

Accrued interest must be included with the payment for the notes for the period from
(but not including) the first day of the month in which the purchase is made to and
including the day on which payment is made in cash or other funds immediately available
to the Federal Reserve Bank of New York.
If payment is made by a check drawn to the order of the Federal Reserve Bank of
New York on another bank, the funds will be deemed available, for the purpose of
computing the period for which accrued interest must be paid, on the day on which credit
would have been given for the check under our time schedules (Operating Circulars
Nos. 5 and 6) if the check had been sent to us for collection.

RATE OF INTEREST ACCRUAL
The following tabulation sets forth the daily rates per $1,000 of par value which the
Treasury Department has prescribed for use in calculating the accrued interest to be paid
in connection with purchases of Treasury Savings Notes, Series D :




Number of days in the month
in which purchase is made

Rate per day per $1,000
to be collected

28

$0.02857

29

0.02759

30

0.02667

31

0.02581

(A d d itio n a l application s p a c e )

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