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F E D E R A L R E S E R V E BANK OF N E W YORK Fiscal A g en t o f the U nited States r C ircu la r N o . 3 7 5 2 T S eptem ber 4, 1951 J L O FFE R IN G OF 1% Percent Treasury Certificates of Indebtedness of Series C-1952 Dated and bearing interest from Septem ber 15, 1951 D ae August 15, 1952 IN E XC H A N G E FO R 3 Percent Treasury Bonds of 1951-55, Dated September 15, 1931, Called for Redemption on September 15, 1951 To all Banks, and Others Concerned, in the Second Federal R eserve 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 Certificates o f Indebtedness o f Series C-1952, open on an exchange basis, par fo r par, in authorized denominations, to holders o f 3 percent Treasury Bonds o f 1951-55 (dated September 15, 1931) in the amount o f $755,429,000, called for redemption on September 15, 1951. Cash subscriptions will n ot be received. The certificates now offered w ill be dated September 15, 1951, and w ill bear interest from that date at the rate o f one and seven-eighths percent per annum, payable with the principal at m aturity on A ugust 15, 1952. 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 Debt A ct o f 1941, as amended, interest upon the certifi cates now offered shall not have any exemption, as such, under the Internal Revenue Code, o r 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 accom panied by a like face amount o f the called bonds. Sub je ct to the usual reservations, all subscriptions w ill be allotted in full. The subscription books will close fo r the receipt o f all subscriptions at the close o f business Friday, September 7. Subscriptions addressed to a Federal Reserve Bank or Branch or to the Treasury Department, and placed in the mail before midnight September 7, will be considered as having been entered before the close o f the subscription books. The terms o f this offering are set forth in Treasury Department Circular No. 892, dated September 4, 1951, a copy o f which is printed on the reverse side. The subscription books are now open and subscriptions will be received by this Bank as fiscal agent of 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. ( o v e r ) UNITED STATES OF AMERICA 17/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 OF IN D E B T E D N E S S OF D a t e d a n d b e a r in g in te r e s t fr o m S e p t e m b e r 15, 1951 1951 D e p a r t m e n t C ir c u la r S E R IE S C -1 9 5 2 D u e A u g u s t 15, 1952 TREASURY DEPARTM ENT, No. 8 9 2 O f f ic e F is c a l S e r v ic e B u r e a u o f t h e P u b li c D e b t o f t h e S ecretary, Washington, Septem ber 4,1951. I. O F F E R IN G O F C E R T IF IC A T E S 1. The Secretary o f the Treasury, pursuant to the authority o f the Second Liberty Bond A ct, as amended, invites subscriptions, at par, from the people o f the United States fo r certificates o f indebtedness o f the United States, designated 1 % percent Treasury Certificates o f Indebtedness o f Series C-1952, in exchange fo r 3 percent Treasury Bonds o f 1951-55, dated September 15, 1931, due September 15, 1955, called for redemption September 15, 1951. II. D E S C R IP T IO N O F C E R T IF IC A T E S 1. The certificates will be dated September 15, 1951, and will bear interest from that date at the rate of 1 % percent per annum, payable with the principal at m aturity on A ugust 15, 1952. They will not be subject to call fo r redemption prior to maturity. 2. The income derived from the certificates shall be subject to all taxes, now or hereafter imposed under the Internal Revenue Code, or laws amendatory or supplementary thereto. The certificates shall be subject to estate, inheritance, g ift or other excise taxes, whether Federal o r State, but shall be exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any o f the possessions o f the United States, or by any local taxing authority. 3. The certificates will be acceptable to secure deposits o f public moneys. They will not be acceptable in payment o f taxes. 4. Bearer certificates will be issued in denominations o f $1,000, $5,000, $10,000, $100,000 and $1,000,000. The certificates w ill not be issued in registered form . 5. The certificates will be subject to the general regulations o f the Treasury Department, now or hereafter prescribed, governing United States certificates. III. S U B S C R IP T IO N A N D A L L O T M E N T 1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Treasury Department, W ashington. Banking institutions generally m ay submit subscriptions fo r account o f custom ers, 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 righ t to reject any subscription, in whole or in part, to allot less than the amount o f 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. Allotm ent notices will be sent out prom ptly upon allotment. IV . PAYM ENT 1. Payment at par fo r certificates allotted hereunder must be made on or before September 15, 1951, or on later allotment, and may be made only in Treasury Bonds o f 1951-55, called for redemption September 15, 1951, which will be accepted at par, and should accom pany the subscription. Final interest due September 15 on the called bonds surrendered w ill be paid, in the case o f coupon bonds, by payment o f the September 15, 1951 coupons, which should be detached by holders before presentation o f the bonds, and in the case o f registered bonds, by checks draw n in accordance with the assignments on the bonds surrendered. V. A S S IG N M E N T OF R E G IS T E R E D BONDS 1. Treasury Bonds o f 1951-55 in registered form tendered in payment fo r certificates offered here under should be assigned by the registered payees or assignees thereof to “ The Secretary o f the Treasury fo r exchange fo r Treasury Certificates o f Indebtedness o f Series C-1952 to be delivered t o ............................ , ” in accordance with the general regulations o f the Treasury Department 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 subscriptions, 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 payment for certificates allotted, to make delivery o f certificates on full-paid subscriptions allotted, and they may issue interim receipts pending delivery o f the definitive certificates. 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, Secretary of the Treasury. (SUBMIT W ITH DUPLICATE W HITE COPY) S u b s c r ib e r ’ s R e fe re n ce N o. E A -B Subscription Num ber i United States of America 3 percent Treasury Bonds of 1951-55, dated September 15, 1931, called for redemption on September 15, 1951, must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION F O R U N ITE D STA TE S O F A M E R IC A 1 % PE R C E N T T R E A S U R Y C E R TIFICATE S O F INDEBTEDNESS O F SERIES C-1952, D A T E D SE PTE M B E R 15, 1951, DUE AU G U ST 15, 1952 Important 1. Please do not submit registered and coupon bonds on the same subscription. 2. Subject to the reservations in Treasury Department Circular No. 89 2 , dated September 4, 1951, all subscriptions will be allotted in full. 3. Coupons due September 15, 1951 should be detached from the bearer securities tendered in payment of this subscription and collected in the usual manner. 4 . Interest due September 15, 1951 on registered bonds will be paid in accordance with the assignments on the bonds surrendered. F ederal R eserve B a n k op N ew Y ork, D a t e d a t. Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, New York 45, N. Y. Attention Government Bond Department— 2nd Floor .1951 D ear S ir s : Subject to the provisions o f Treasury Department Circular No. 892, dated September 4, 1951, the undersigned hereby subscribes for United States o f America 1 % percent Treasury Certificates o f Indebtedness o f Series C-1952 as stated below : F or own account........................................................................................................................................ $................................. F or our customers (fo r 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 o f America 3 percent Treasury Bonds of 1951-55, dated September 15,1931, as follow s: □ In bearer form □ In registered form , , Delivered to you herewith $............................. tv m „ To be delivered to you To be withdrawn from ... , ij . tor our account by................................................ securities held by you for our account .........$............................................................................ $................................. Pay interest due September 15, 1951 on registered bonds as follow s: By c h e c k ............................................................................. □ B y credit to our reserve account................................... □ □ BONDS SU RREN D ERED In bearer form □ In registered form DENOMI NATION C E R T IF IC A T E S D E S IR E D IN E XC H A N G E LIST SERIAL NUMBERS ( I f insufficient space, use back o f fo rtn ) FACE AMOUNT DENOMI NATION PIECES $ 50 FACE AMOUNT LEAVE T H IS SPACE BLANK 1,000 100 5 ,0 0 0 500 10,000 1,000 100,000 5 ,0 0 0 1,0 0 0 ,0 0 0 10,000 5 0 ,0 0 0 100,000 1,000,000 TO T A L TOTAL Dispose o f □ 1. □ 2. □ 3. □ 4. securities issued on this subscription as indicated below : Deliver over the counter to the undersigned □ 5. Special instructions: Ship to the undersigned H old in safekeeping (fo r member bank only) H old as collateral for Treasury Tax and Loan Account (IM P O R TA N T : 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.) The undersigned (i f a bank or trust company) hereby certifies that the securities which you are hereby instructed to dispose of in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned. (F ill in all required spaces before signing) Subscription submitted by. (P lease print) TO S U B S C R IB E R : Please indicate i f this is a confirmation. YES. B y. (O fficia l signature required) N O ... (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 of New York V a u l t R ecord S a f e k e e p in g R ecord Released Taken from Vault- Digitized forDelivered FRASER Checked by- Securities received by— Delivery Receipt Received from F e d e r a l R e s e r v e B a n k o f N e w Y o r k the above described United States Government obligations in the amount indicated above. Counted Checked G o v e r n m e n t B o n d R ecord Securities received b y- Checked by and delivered- Subscriber. Date. B y. (Important— Please do not submit registered and coupon bonds on the same subscription.) List o f customers included in the foregoing subscription Amount Subscribed Name o f Customer (Please print or use typewriter) Address DEN OM IN ATIONS AND SE R IA L NUM BERS OF BONDS SU RRENDERED (D U P L IC A T E COPY FO R USE OF F E D E R A L R E SE R V E BAN K OF N E W Y O R K ) S u b s c r ib e r ’s R e feren ce N o. EA-B 2 S ubscription N um ber United State, of America 3 percent Treasury Bonds of 1951-55, dated September 15, 1931, called for redemption on September 15, 1951, must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION F O R U N ITE D STATES O F A M E R IC A 1 % PE R C E N T T R E A S U R Y C E R TIFICA TES O F INDEBTEDNESS O F SERIES C-1952, D A T E D SE PTEM BER 15, 1951, DUE AU G U ST 15, 1952 Important 1. Please do not submit registered and coupon bonds on the same subscription. mllotted2'«nSfUuU.eCt * ° ^ re•erVation, in Department Circular No. 892, dated September 4, 1951, all subscriptions will be .»d«„iLurr*\a“u?r£»»b" . I5,1951‘houldbede," hedtrom,heb“ r" *ec"ri,i" •urrendt‘redntere,t ^ F S* pt* mber 15, 1951 on r®*i*ter®d bonds will be paid in accordance with the assignments on the bonds R eserve B ederal °f *hi- ■“‘■.criptic. a n k op N ew Y ork, Dated at. Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, New York 45, N. Y. .1951 Attention Government Bond Department— 2nd Floor D ear S ir s : Subject to the provisions o f Treasury Department Circular No. 892, dated September 4, 1951, the undersigned herebv subscribes for United States of America 1% percent Treasury Certificates o f Indebtedness o f Series C-1952 as stated below: F or own account........................................................................................................................................ $ F or 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 o f United States o f America 3 percent Treasury Bonds o f 1951-55 dated September 15,1931, as follow s: □ In bearer form □ In registered form _ • [* Delivered to you herewith $............................. To be delivered to you fo r our account by..... . To be withdrawn from securities held by you for our a c c o u n t ......... Pay interest due September 15, 1951 on registered bonds as follows: B y c h e c k ............................................................................. □ B y credit to our reserve account................................... □ □ BONDS SU RRENDERED In bearer form □ In registered form DENOMI NATION L $ C E R T IF IC A T E S D E S IR E D IN E XC H A N G E LIST SERIAL NUMBERS ( I f insufficient space, use back o f fo rm ) face am ount DENOMI NATION PIECES 50 $ 100 LEAVE T H IS SPA C E B L A N K 1 ,0 0 0 5 ,0 0 0 ---------- 500 1 0 ,0 0 0 1 ,0 0 0 1 0 0 ,0 0 0 5 ,0 0 0 1 ,0 0 0 ,0 0 0 1 0 ,0 0 0 X X X X X 5 0 ,0 0 0 X X X X X 1 0 0 ,0 0 0 X X X X X 1 ,0 0 0 ,0 0 0 X X X X X TO T A L TOTAL i FACE AM OUNT Dispose o f □ 1. □ 2. □ 3. □ 4. securities issued on this subscription as indicated below : Deliver over the counter to the undersigned □ 5. Special instructions: Ship to the undersigned H old in safekeeping (fo r member bank only) H old as collateral for Treasury Tax and Loan Account (IM PO R TA N T : 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.) of The undersigned (if a bank or trust company) hereby certifies that the securities which you are hereby instructed to dispose in the manner indicated in items numbered 3 and 4 above are the sole property of the undersigned. (F il l in all required spaces b e fo re sig n in g ) S u b scrip tion su bm itted b y . (P le a s e p r in t ) T O S U B S C R IB E R : P lease in d ica te i f this is a confirm ation. YES. B y. (T it le ) (O ff ic ia l s ig n a t u r e r e q u ir e d ) N O ... Street address .................................. C ity, Tow n or V illa g e, P . O. N o., and State Spaces below are for the use of the Federal Reserve Bank of New York V a u lt R ecord S a f e k e e p in g R D elivered B ond R ecord Checked b y - S ecurities received b y — D elivery R eceipt R eceived fr o m F e d e r a l R e s e r v e B a n k o f N e w Y o r k the above described U nited S tates Governm ent ob lig ation s in the am ount indicated above. Counted Checked overnm ent Securities received b y - R eleased T aken fro m V a u lt- G ecord Checked by and d elivered------------ S u b scriber. D a te. B y. (I m p o r t a n t — P I m m d o mot M i b a i l r t f i i t o r W u 4 eoapw boad» m U m mum a a b M r ip tio B .) List of customers included in tbe foregoing subscription Amount Subscribed Name of Customer Address (Pleast pritU or tut typewriter) DEN OM IN ATIO N S A N D S E R IA L NUM BERS O P BONDS SU RRENDERED
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