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F E D E R A L R E SE R V E BAN K O F N E W YO R K Fiscal Agent of the United States r Circular N o. 3 7 6 9 T U O ctober 10, 1951 J SPECIAL OFFERING OF 144-DAY TREASURY BILLS T A X ANTICIPATION SERIES To all Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: Secretary o f the Treasury Snyder announced today that tenders will be accepted on October 17, 1951 o f bids to an issue of 144-day Treasury bills in the amount of $1,250,000,000 to be dated October 23, 1951, and to mature on March 15, 1952. These bills will be labeled “ Tax Anticipation Series” and will be acceptable in payment of income taxes due on March 15, 1952. Payment for such bills will be made in cash on the date o f issue, except that any qualified depositary may make payment by credit in its Treasury Tax and Loan Account for accepted tenders submitted by it on behalf o f itself or its customers up to any amount for which it shall be qualified in excess o f existing deposits. Formal invitation fo r tenders will be issued tomorrow, October 11, 1951. These bills are being issued to meet anticipated cash requirements of the Treas ury, and to the extent they are not presented in payment o f income taxes due on the maturity date, they will be paid in cash at maturity. Secretary Snyder also announced that within the next few weeks another offering o f Treasury bills will be made to mature on June 15, 1952, which also will be accept able in payment o f income taxes due on that date. While no amount has been set for this offering it is probable that it may be in the neighborhood o f $1,000,000,000. The offering circular and tender form for these special Treasury bills are being mailed to you today under separate cover. A llan S prou l, President.
@FedFRASER