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FED ERAL RE SE R V E BANK OF NEW YORK Fiscal A g en t o f the U nited States rC ircu lar N o. 3 5 8 3 1 L September 5, 1950 J O FFE R IN G OF I 1/, Percent Treasury Notes o f Series F-1951 Dated and bearing interest from Septem ber 15, 1950 Due O ctober 15, 1951 IN E X C H A N G E FO R 1 ]/q Percent Treasury Certificates of Indebtedness o f Series G-1950, Maturing September 15,1950, or 2 Percent Treasury Bonds o f 1950-52, Dated April 15, 1943, Due September 15, 1952, or 2^4 Percent Treasury Bonds o f 1950-52, Dated September 15, 1938, Due September 15, 1952, Both Called for Redemption on September 15, 1950 To all Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: The following statement was made public today: Secretary o f the Treasury Snyder today announced the offering, through the Federal Reserve Banks, o f 1% percent Treasury Notes o f Series F-1951, open on an exchange basis, par fo r par, in authorized denominations, to holders o f 1 % percent Treasury Certificates o f Indebtedness o f Series G-1950, maturing September 15, 1950, in the amount o f $1,196,794,000, or 2 percent Treasury Bonds o f 1950-52 (dated A p ril 15, 1943) in the amount o f $4,939,257,000 or 2^2 percent Treasury Bonds o f 1950-52 (dated September 15, 1938) in the amount o f $1,185,841,200, both called fo r redemption on September 15, 1950. Cash subscriptions will not be received. The notes now offered will be dated September 15, 1950, and will bear interest from that date at the rate o f 1*4 percent per annum, payable with the principal at m aturity on October 15, 1951. They w ill not be subject to call fo r redemption p rior to maturity. They will be issued in bearer form only, in denominations o f $1,000, $5,000, $10,000, $100,000 and $1,000,000. Pursuant to the provisions o f the Public D ebt A ct o f 1941, as amended, interest upon the notes now offered shall not have any exemption, as such, under the Internal Revenue Code, or laws amendatory or supplementary thereto. The fu ll 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, W ashington, and should be accompanied by a like face amount o f the securities to be exchanged. Subject to the usual reservations, all subscriptions w ill be allotted in full. The subscription books will close for the receipt o f all subscriptions at the close o f business Friday, September 8. Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department, and placed in the mail before midnight September 8, will be considered as having been entered before the close o f the subscription books. The terms of this offering are set forth in Treasury Department Circular No. 869, dated September 5, 1950, copy o f which is printed on the reverse side. The subscription books are now open and applications will be received by this Bank as fiscal agent o f the United States. Cash subscriptions will not be received. Exchange subscrip tions 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. A llan S proul, President. ( over) UNITED STATES OF AMERICA 1% P E R C E N T T R E A S U R Y N O T E S O F S E R IE S F-1951 D ated and bearing interest from Septem ber 15, 1950 D u e O ctober 15, 1951 V95o TREASU RY DEPARTM ENT, D ep artm en t C ircular N o . 869 ----------- O f f ic e of the Secretary, W ashington, Septem ber 5, 1950. B ureau o f i e P u b i f c D e b t I. O F F E R IN G O F N O T E S 1. The Secretary o f the Treasury, pursuant to the authority o f the Second Liberty B ond A ct, as amended, invites subscriptions, at par, from the people o f the United States for notes o f the United States, designated 1^4 percent Treasury Notes o f Series F-1951, in paym ent o f which any o f the follow ing listed Treasury securities, singly or in combinations aggregating $1,000 or multiples thereof, may be tendered: Treasury Certificates o f Indebtedness: 1 % percent certificates, Series G-1950, dated September 15, 1949, m aturing September 15, 1950. Treasury B onds: 2 oercent bonds o f 1950-52, dated A p ril 15, 1943, due September 15, 1952, called fo r redemption September 15, 1950, 2i/o percent bonds o f 1950-52, dated September 15, 1938, due September 15, 1952, called fo r redemption September 15, 1950. II. D E S C R IP T IO N OF NOTES 1. The notes will be dated September 15, 1950, and will bear interest from that date at the rate o f l 1/^ percent per annum, payable with tlie principal at m aturity on October 15, 1951. They will not be subject to call fo r redemption prior to maturity. 2. Tlie income derived from the notes shall be subject to all taxes, now or hereafter imposed under the Internal Revenue Code, or laws amendatory or supplementary thereto. The notes shall be subject to estate, inheritance, g ift 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 b y any State, or any o f the possessions o f the United States, or by any local taxing authority. 3. The notes w ill be acceptable to secure deposits o f public moneys. They w ill n ot be acceptable in paym ent o f taxes. 4. Bearer notes w ill be issued in denominations o f $1,000, $5,000, $10,000, $100,000 and $1,000,000. The notes w ill not be issued in registered form. 5. The notes will be subject to the general regulations o f the Treasury Department, now or hereafter prescribed, governing United States notes. III. S U B S C R IP T IO N A N D ALLOTM ENT 1. Subscriptions w ill be received at the Federal Reserve Banks and Branches and at the Treasury Department, W ashington. Banking institutions generally may submit subscriptions fo r account o f customers, but only the Federal Reserve Banks and the Treasury Department are authorized to act as official agencies. 2. The Secretary o f the Treasury reserves the right to reject any subscription in whole or in part, to allot less than the amount o f notes applied for, and to close the books as to any or all subscriptions at any time without n o tice ; and any action he may take in these respects shall be final. Subject to these reservations all subscriptions will be allotted in full. Allotm ent notices w ill be sent out prom ptly upon allotment. IV . PAYM ENT 1. Payment at par fo r notes allotted hereunder must be made on or before September 15, 1950, or on later allot ment, and may be made only in Treasury Certificates o f Indebtedness o f Series G-1950, m aturing September 15, 1950, or in 2 percent Treasury Bonds o f 1950-52 or 2 % percent Treasury Bonds o f 1950-52, both called fo r redem ption Septem ber 15, 1950, which will be accepted at par, and should accom pany the subscription. The fu ll y e a r’s interest on the certi ficates surrendered w ill be paid to the subscriber follow ing acceptance o f the certificates. Final interest due Septem ber 15 on bonds surrendered will be paid, in the ease o f coupon bonds, by paym ent o f September 15, 1950 coupons, w hich should be detached b y holder before presentation o f the bonds, and in the case o f registered bonds, by checks drawn in accordance with the assignments on the bonds surrendered. V. A S S IG N M E N T O F R E G IS T E R E D BONDS 1. 2 percent Treasury Bonds o f 1950-52 or 2 y2 percent Treasury Bonds o f 1950-52 in registered form tendered in paym ent fo r notes offered hereunder should be assigned by the registered payees or assignees thereof to “ The Secretary o f the Treasury fo r exchange fo r Treasury Notes o f Series F-1951 to be delivered t o .................................................. ” , in accordance with the general regulations o f the Treasury Departm ent governing assignments fo 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 o f Loans and Currency, W ashington, D. C. The bonds must be delivered at the expense and risk o f the holders. V I. G E N E R A L P R O V IS IO N S 1. A s fiscal agents o f the United States, Federal Reserve Banks are authorized and requested to receive subscrip tions, to make allotments on the basis and up to the amounts indicated by the Secretary o f the Treasury to the Federal Reserve Banks o f the respective districts, to issue allotment notices, to receive paym ent fo r notes allotted, to make delivery o f notes on full-paid subscriptions allotted, and they may issue interim receipts pending delivery o f thes* definitive notes. 2. The Secretary o f 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 prom ptly to the Federal Reserve Banks. JOHN W . SN YD ER , S ecretary o f the Treasury. Application Number Subscriber ’s Reference No. EAC Use this form when United States of America l l/ B percent Treasury Certificates o f Indebtedness of Series G-1950, maturing September 15, 1950, are tendered in payment. EXCHANGE SUBSCRIPTION FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY NOTES OF SERIES F-1951 DATED SEPTEMBER 15, 1950, DUE OCTOBER 15, 1951 I m p o r ta n t— Subject to the reservations in Treasury Departm ent Circular No. 8 6 9 , dated Septem ber 5 , 1 9 5 0 , all subscriptions will be allotted in full. F ed er al R eser ve B a n k of N ew Y ork, Dated at. Fiscal Agent of the United States, Federal Reserve P. 0. Station, New York 45, N. Y. .1950 Attention Government Bond Department— 2nd Floor D ear S ir s : Subject to the provisions of Treasury Department Circular No. 869, dated September 5, 1950, the undersigned hereby subscribes for United States of America 1% percent Treasury Notes of Series F-1951 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 lYg percent Treasury Certificates of Indebtedness of Series G-1950, maturing September 15, 1950, as follows: To be delivered to you for our account by................................................................ To be withdrawn from Delivered to securities held by you you herewith $....................................... for our aecount.......... Pay the proceeds of interest due September 15, 1950, on maturing securities as follows: By check ...................................................................... □ By credit to our reserve account............................... □ Issue and dispose of the securities allotted on this subscription in the denominations and amounts as indicated below: D e n o m in a t io n s 1 ,0 0 0 □ □ □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. Hold in safekeeping (for member bank only) 5,000 □ 1 0 ,0 0 0 □ 4. Hold as collateral for Treasury Tax and Loan Account 5. Special instructions: Par Value Piece* $ Leave Blank 1 0 0 ,0 0 0 1 ,0 0 0 ,0 0 0 T ota l IM PORTANT: No changes in delivery instructions will be accepted. A separate subscription must be submitted for each group o f securities as to which different delivery instructions are given. T h e undersigned, if a bank or trust com pany, hereby certifies that the securities which you are hereby instructed to dispose o f in the manner indicated in items numbered 3 and 4 above are the sole property o f the undersigned. (Fill in all required spaces before signing) Application submitted by. TO 8UBS0RIBEB: (Please print) Please indicate if this is a confirmation. YES.. By. N O ... (Official lijfnature required) (T itle ) Street ad dress.............................. City, Town or Village, P. O. No., and 8tate Spaces below are for the use o f the Federal R eserve Bank o f N ew Y ork V a u l t R ecord S a t e k e e p in q R ecord Released Taken from Vault- Delivered Checked by------- ----------------------------Delivery Receipt Securities received by- Counted Checked G o v e r n m e n t B o n d R ecord Securities received by----------------------- ----------- Checked by and delivered - Received from F e d e r a l R e s e r v e B a n k o r N e w Y o r k the above described United States Government obligations in the amount indicated above. Subscriber. Date. B y. List of customers whose applications are included i Amount Subscribed Name of Customer (P itas* print or ns* typnvritrr) the foregoing subscription Address Application Number Subscriber ' b Reference No. EA-B-1 Use this form when United States of America 2 percent Treasury Bonds of 1950-52, dated April 15, 1943, called for redemption on September 15, 1950 are tendered in payment. EXCHANGE SUBSCRIPTION FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY NOTES OF SERIES F-1951 DATED SEPTEMBER 15, 1950, DUE OCTOBER 15, 1951 Important 1. Please do not submit registered and coupon bonds on the sam e application. 2 . S u bject to the reservations in Treasury Departm ent Circular No. 8 6 9 , dated S eptem ber 5 , 1 9 5 0 , all subscriptions will be allotted in full. 3 . Coupons dated Septem ber 1 5 , 1 9 5 0 , should be detached from the bearer securities tendered in paym ent o f this application and collected in the usual manner. Dated at......................................................................... F e d er al R ese r v e B a n k op N e w Y o r k , Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, .............................. 1 9 5 O New York 45, N. Y. Attention Government Bond Department— 2nd Floor D e a r S ir s : Subject to the provisions of Treasury Department Circular No. 869, dated September 5, 1950, the undersigned hereby subscribes for United States of America 1V4 percent Treasury Notes of Series F-1951 as stated below: For own account........................................................................................................................... $............................... For our customers (for use o f banking institutions) as shown on reverse side of this form $............................... Total subscription......................................................... $................................ and tenders in payment therefor a like par amount of United States of America 2 percent Treasury Bonds of 1950-52, dated April 15, 1943, as follows: □ In bearer form □ In registered form To be delivered to you To be withdrawn from securities by you — *...... ... held > -......... for our aocount by' for our account..........$.......................................................................... $. Delivered to you herewith $. Issue and dispose o f the securities allotted o n th is subscription in the denominations an d am ou n ts as in d ic a te d b e lo w : D e n o m in a t io n s Par Value Pieces $ Leave Blank 1 ,0 0 0 - 5,000 1 0 ,0 0 0 □ □ □ □ 1. 2. 3. 4. Deliver over the counter to the undersigned Ship to the undersigned Hold in safekeeping ( f o r m em b er b a n k o n ly ) Hold as collateral for Treasury Tax and Loan □ 5. Special instructions: 1 0 0 ,0 0 0 1 ,0 0 0 ,0 0 0 Total IM P O R T A N T : N o changes in delivery instructions will be accepted. A separate subscription must b e submitted for each group o f securities as to which different delivery instructions are given. T he undersigned, if a bank or trust com pany, hereby certifies that the securities which you are instructed to dispose o f in the manner indicated in items numbered 3 and 4 above are the sole property o f the undersigned. (F ill in all required spaces before signing) Application submitted by. (Please print) TO SUBSCRIBER: Please indicate if this is a confirmation. Y E S _____ B y .. N O ---------- (OfEcisl signature required) (T id e) Street address................................ City, Town or Village, P. O. No., and State Spacas below are for the use o f the Federal Reserve Bank o f New Y ork V a u l t R ecord S a f e k e e p in g R ecord Taken from Vault--------Counted --------- Checked --------- D e liv e r e d ------------- Securities received by------------------- Go v e r n m e n t B o n d R ecord Securities received b y -------------------------------------------------- Checked by------------------------------ — — Delivery Receipt R e c e iv e d f r o m F e d e r a l R e s e r v e B a n k o p N e w Y o r k t h e a b o v e d e s c r ib e d U n it e d S t a t e s G o v e r n m e n t o b lig a t io n s in t h e a m o u n t in d ic a t e d a b o v e . Subscriber........................................................ Im p orta nt —Please do not submit registered and coupon bonds on the same application. List of customers whose applications are included in the foregoing subscription __ Amount Subscribed — ^ Name o f Customer ( Pleast print or m e typew riter) .a :■ r v nil Address Application Number S u b s c r ib e r ’s Reference N o . EA-B-2 Use this form when United State, of America 2»/, percent Treasury Bonds of 1950-52, dated September 15, 1938, called for redemption on September 15, 1950 are tendered in payment. EXCHANGE SUBSCRIPTION FOR UNITED STATES OF AMERICA 1% PERCENT TREASURY NOTES OF SERIES F-1951 DATED SEPTEMBER 15, 1950, DUE OCTOBER 15, 1951 Important 1. 2. Please do not submit registered and coupon bonds on the sam e application. Subject to the reservations in Treasury Departm ent Circular No. 8 6 9 , dated S eptem ber 5 , 1 9 5 0 , all subscriptions will be allotted in fu ll. , 3. Coupons dated Septem ber 1 5 , 1 9 5 0 , should be detached from the bearer securities tendered in paym ent o f this application and collected in the usual manner. Dated at...................................................................... Fiscal Agent of the United States, Federal Reserve P. 0 . Station, ..............................................................................1950 New York 45, N. Y. Attention Government Bond Department— 2nd Floor F ederal R eserve B an k of N e w Y ork , D ear S ir s : Subject to the provisions of Treasury Department Circular No. 869, dated September 5, 1950, the undersigned hereby subscribes for United States of America 1V4 percent Treasury Notes o f Series F-1951 as stated below: For own account...................................................................................................................................... $.................................. For our customers (fo r use o f banking institutions) as shown on reverse side o f this form $................................. Total subscription.............................................................. $................................. and tenders in payment therefor a like par amount of United States o f America 2*/£ percent Treasury Bonds of 1950-52, dated September 15, 1938, as follows: □ In bearer form □ In registered form Delivered to you herewith $............................ m , . , , „ To be delivered to you To be withdrawn from for our account by................................................ securities held by you for our a ccou n t...........$........................................................................... $.................................. Issue and dispose o f the securities allotted on this subscription in the denominations and amounts as indicated below : D e n o m in a t io n s Par Value Pieces $ n i. □ 2. Leave Blank 1,000 □ 3. 5,000 □ 4. Account 10,000 □ 5. Special instructions: n s. 100,000 1,000,000 Total IMPORTANT: 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 instructed to dispose o f in the manner indicated in items numbered 3 and 4 above are the sole property o f the undersigned. (Fill in all required spaces before signing) Application submitted by. TO SUBSCRIBER: (Please print) Please indicate if this is a confirmation. YES. NO... B y ... (Official signature required) (T itle) Street address .................................. City, Town or Village, P. O. No., and State Spaces below are for the use o f the Federal Reserve Bank o f New Y ork V a u l t R ecord S a f e k e e p in g R ecord Released Taken from Vault- Securities received by- Counted Checked Delivered G o v k r n m e n t B o n d R ecord Securities received by- Checked byDelivery Receipt Received from F e d e r a l R e s e r v e B a n k o r N e w Y o r k th e a b o v e d e s c r ib e d United States Governmenf obligations in the amount indicated a b o v e . Checked by and delivered- Subscriber. Date. B y. I m p o r ta n t— Please do not .u b m it registered and coupon bond* on the sam e application. List o f customers whose applications are included in the foregoing subscription Amount Subscribed Name of Customer (Please print or use typewriter) Address
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