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FEDERAL RESER VE BANK O F NEW YORK Fiscal A gen t of the United States J"Circular N o. 3 8 2 7 "I L February 29, 1952 J DEPOSITS OF MARCH TAX COLLECTIONS IN TREASURY TAX AND LOAN ACCOUNTS To All Banks and Trust Companies in the Second Federal Reserve D istrict: The Secretary o f the Treasury has announced that collectors o f internal revenue have been instructed to deposit with Federal Reserve Banks, during the period March 1 through April 5, 1952, all remittances (except savings notes) o f $10,000 or more submitted in pay ment o f individual or corporate income taxes, excess profits taxes, interest, or penalties, including deficiencies and payments of estimated taxes. These instructions will enable banks qualified as Special Depositaries o f Public Moneys to receive these remittances fo r deposit in their Treasury Tax and Loan Accounts. The Treasury will decide from time to time whether to make withdrawals from funds arising from March tax payments or from other funds accumulated in the Tax and Loan Accounts, basing its decision on the Departm ent’s financing needs and the condition of the money market at the time. W e will prepare daily a special form o f cash letter, and an attached certificate form, fo r the March tax collections. Until further notice, the amount shown in the certificate will be fo r 100 per cent o f the amount of those checks eligible for credit to Treasury Tax and Loan Accounts. Special depositaries, wishing to accept funds equal to the amount o f the cash letter fo r deposit in their Treasury Tax and Loan Accounts, should execute and return the certificate attached to the cash letter, in accordance with the instructions contained in the letter. To carry out the Treasury Department policy, described in our Circular No. 3824, dated February 25, 1952, concerning the redemption of Treasury Bills, Tax Anticipation Series, maturing March 15, 1952, and Treasury Savings notes, the amount o f the certificate attached to the special cash letter will not include those checks o f $10,000 or more drawn on funds that arose from the redemption o f the Tax Anticipation Series Treasury bills or unmatured Treasury Savings notes. However, deduction from the cash letter will not be made in com puting the amount to be withheld from deposit in Treasury Tax and Loan Accounts, if a depositary presenting Treasury Bills, Tax Anticipation Series, due March 15, 1952, fo r cash redemption for its own account, certifies that (1) The bills were acquired by purchase prior to February 25, 1952, and were held continuously until date o f maturity, or (2) They were acquired on and after February 25, and payment o f the purchase price was not credited in a customer’s deposit account on its books. A request by a bank or trust company to redeem Treasury Bills, Tax Anticipation Series, maturing March 15, 1952, should be made on Form G. B. 550, a copy o f which is enclosed. Additional copies o f this circular and of the enclosed form will be furnished upon request. A llan S proul, President. C.B. 530 (S U B M IT W I T H D U P L IC A T E W H I T E C O P Y ) REQUEST BY A BANK OR TRUST COMPANY FOR REDEMPTION OF TREASURY BILLS, TAX ANTICIPATION SERIES, DUE MARCH 15, 1952 Date........................................................................... , 1952 F ederal R eserve B a n k of N ew Y ork, Fiscal Agent of the United States, Federal Reserve P. 0 . Station, New York 45, N. Y . Attention: Government Bond Department— 2nd Floor The undersigned herewith presents and surrenders for redemption TR EASU R Y BILLS, T A X AN TICIP ATIO N SERIES Dated October 23, 1951 Due March 15, 1952 1. For own account (certification below applies)............................................................................................ ... $. 2. For own account (acquired on and after February 25, 1952 and payment of purchase price credited on our books in the deposit accounts of the customers shown on the reverse side of this f o r m ) .......................................................................................................................................................... ... $. 3. For our customers as shown on reverse side of this fo r m ............................................................................ $. Total amount............................ ... $. Description of Bills Surrendered Pieces Denomination Face amount L ist serial numbers ( I f space is not sufficient, use back o f form .) $ 1,000 5,000 / 10,000 100,000 500,000 1 ,000,000 Total C A U T IO N C E R T IF IC A T E As a protection to the sender, shipments of bills by mail should be registered and insured. The undersigned hereby certifies that the -bills presented, as indi cated in item 1 above, are presented for cash redemption for its own account and were acquired by purchase prior to February 25, 1952 and were held continuously until date of maturity or that they were acquired on and after February 25 and payment of the purchase price was not credited in a customer’s deposit account on our books. P A Y M E N T INSTRUCTIONS ] By check ] By credit to reserve account (F o r use o f F ed eral R eserve Bank o f N ew Y o r k ) lleceivdd (Name) ----------------------------(Street Address) Securities verified and recorded ----------------------------(City, Zone No., and State) Paym ent p re p a re d ----------------------------P aym ent c h e c k e d ----------------------------- By............................................................................................... (Official Signature and Title Required) List of customers to which items 2 and 3 on the reverse side apply Am ount Name and address o f custom er (P lea se print o r use typew riter) D E N O M IN A T IO N S A N D S E R IA L N U M B E R S O F B O N D S S U R R E N D E R E D G.B. 550 (D U PLIC A TE COPY FOE USE OF FED ERAL RESERVE B A N K OF N E W Y O R K ) REQUEST BY A BANK OR TRUST COMPANY FOR REDEMPTION OF TREASURY BILLS, TAX ANTICIPATION SERIES, DUE MARCH 15, 1952 Date............................................... F ederal R eserve B a n k of N ew Y 1952 ork, Fiscal Agent of the United States, Federal Reserve P. O. Station, New York 45, N. Y . Attention: Government Bond Department— 2nd Floor The undersigned herewith presents and surrenders for redemption TREASUR Y BILLS, T A X AN TICIP ATIO N SERIES Dated October 23, 1951 Due March 15, 1952 1. For own account (certification below applies)............................................................................................ $. 2. For own account (acquired on and after February 25, 1952 and payment of purchase price credited on our books in the deposit accounts of the customers shown on the reverse side of this f o r m ) .......................................................................................................................................................... $. 3. For our customers as shown on reverse side of this f o r m ......................................................................... $. Total amount............................ $. Description of Bills Surrendered Face amount Denom ination Pieces L ist serial numbers ( I f space is not sufficient, use back o f form .) $ 1,000 5,000 10,000 100,000 500,000 1 ,000,000 Total C A U T IO N C E R T IF IC A T E As a protection to the sender, shipments of bills by mail should be registered and insured. The undersigned hereby certifies that the bills presented, as indi cated in item 1 above, are presented for cash redemption for its own account and were acquired by purchase prior to February 25, 1952 and were held continuously until date of maturity or that they were acquired on and after February 25 and payment of the purchase price was not credited in a customer’s deposit account on our books. P A Y M E N T INSTRUCTIONS ] By check ] By credit to reserve account ( F o r use o f Federal R eserve Bank o f N ew Y o r k ) R eceived (N a m e ) ----------------------------(S t r e e t A d d r e s s) Securities verified and recorded ----------------------------( C i t y , Z o n e N o ., a n d S ta te ) Paym ent prepared Bv Paym ent checked (O ffic ia l S ig n a tu re and T it le R e q u ir e d ) List of customers to which items 2 and 3 on the reverse side apply Am ount Name and address o f custom er (P lea se print or use typew riter) i /< iG 3 fi ••••• '■ KOr# TS rflT HlO / D E N O M IN A T IO N S A N D S E R IA L N U M B E R S O F B O N D S S U R R E N D E R E D f f l T 2 3 IIQ 3 J
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