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FED ERAL RE SE R V E BANK O F NEW YORK F iscal A g e n t o f the U nited States f Circular N o. 3 8 8 4 1 L A ugust 4, 1952 J O FFE R IN G OF 2 Percent Treasury Certificates of Indebtedness of Series C-1953 IN E X C H A N G E FO R 1% Percent Treasury Certificates of Indebtedness of Series C-1952, Maturing August 15, 1952, or 1% Percent Treasury Certificates of Indebtedness of Series D-1952, Maturing September 1, 1952 To All Banking Institutions, and Others Concerned, t'n the Second Federal Reserve Distriot: The following statement was made public today: Secretary o f the Treasury Snyder today announced the offering, through the Federal Reserve Banks, of 2 percent Treasury Certificates o f Indebtedness o f Series C-1953, open on an exchange basis to holders o f 1 % percent Treasury Certificates o f Indebtedness o f Series C-1952, in the amount o f $583,202,000, matur ing A ugust 15, 1952, o r 1 % percent Treasury Certificates o f Indebtedness o f Series D-1952, in the amount o f $1,832,446,000, m aturing September 1, 1952. Exchanges will be made par fo r par in the case o f the certificates o f Series C-1952, and at par with an adjustm ent o f interest as o f August 15, 1952, in the case o f the certificates o f Series D-1952. Cash subscriptions will not be received. The Secretary also announced that the option to call fo r redem ption on December 15,1952, the fou r issues o f Treasury bonds eligible to be called on that date, will not be exercised. The certificates now offered will be dated A u gust 15, 1952, and will bear interest from that date at the rate o f two percent per annum, payable with the principal at maturity on August 15, 1953. They w ill 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 P ublic Debt A ct o f 1941, as amended, interest upon the certificates 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 w ill be received at the Federal Reserve Banks and Branches, and at the Treasury Depart ment, W ashington, and should be accompanied by a like face amount o f the maturing certificates. Subject to the usual reservations, all subscriptions will be allotted in full. The subscription books will close fo r the receipt o f all subscriptions at the close o f business Thursday, A u gust 7. Subscriptions addressed to a Federal Reserve Bank or Branch o r to the Treasury Department, and placed in the mail before m idnight A ugust 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. 912, dated August 4, 1952, a copy of 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 subscriptions 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 proh l, President. ( over) UNITED STATES OF AMERICA 2 P E R C E N T T R E A S U R Y C E R T IF IC A T E S O F IN D E B T E D N E S S O F SE R IE S C-1953 Dated and bearing interest from August 15, 1952 1952 Department Circular N o. 912 Due August 15, 1953 TREASU RY DEPARTM ENT, O f f ic e Fiscal Service Bureau o f the Public Debt of t h e Secretary, W ashington, A u gu st 4, 1952. I. OFFERING OF CERTIFICATES 1. The Secretary o f the Treasury, pursuant to the authority o f the Second L iberty B ond A ct, as amended, invites subscriptions from the people o f the United States fo r certificates o f indebtedness o f the U nited States, designated 2 percent Treasury Certificates o f Indebtedness o f Series C-1953, in exchange fo r 1 % percent Treasury Certificates o f Indebtedness o f Series C-1952, m aturing A ugust 15, 1952, or 1 % percent Treasury Certificates o f Indebtedness o f Series D-1952, m aturing September 1, 1952. Exchanges w ill be made par fo r par in the case o f the Certificates o f Indebtedness o f Series C-1952, and at par with an adjustm ent o f interest as o f A u gu st 15, 1952, in the case o f the Certificates o f Indebtedness o f Series D-1952. II. DESCRIPTION OF CERTIFICATES 1. The certificates will be dated A ugust 15, 1952, and will bear interest from that date at the rate o f 2 per cent per annum, payable with the principal at m aturity on A ugust 15, 1953. They will not be subject to call for redemption p rior 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 supplem entary thereto. The certificates 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 by any State, or any o f the possessions o f the United States, o r b y any local taxing authority. 3. The certificates w ill be acceptable to secure deposits o f public moneys. They w ill not be acceptable in paym ent o f taxes. 4. Bearer certificates w ill 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 w ill be subject to the general regulations o f the Treasury Department, now or hereafter prescribed, governing U nited States certificates. III. SUBSCRIPTION AND ALLOTMENT 1. Subscriptions w ill 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 customers, but only the Federal Reserve Banks and the Treasury Departm ent 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 certificates applied for, and to close the books as to any or all subscriptions at any time without n otice; and any action he may take in these respects shall be final. S u bject to these reservations, all subscriptions will be allotted in full. Allotm ent notices will be sent out prom ptly upon allotment. IV. PAYMENT 1. Paym ent fo r certificates allotted hereunder must be made on or before A u gust 15, 1952, or on later allotment. Paym ent o f the principal amount may be made only in Treasury Certificates o f Indebtedness of Series C-1952, m aturing A u gust 15, 1952, or in Treasury Certificates o f Indebtedness o f Series D-1952, matur ing September 1, 1952, which w ill be accepted at par and should accom pany the subscription. The fu ll amount o f interest due on the certificates o f Series C-1952 surrendered w ill be paid to the subscriber follow in g accept ance o f the certificates. In the case o f the certificates o f Series D-1952, accrued interest from October 1, 1951, to A u gust 15, 1952 ($16.34221 per $1,000) will be paid to the subscriber follow in g acceptance o f the certificates. V. GENERAL PROVISIONS 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 b y the Secretary o f the Treasury to the Federal Reserve Banks o f the respective Districts, to issue allotment notices, to receive payment fo r cer tificates allotted, to make delivery o f certificates on fu ll-p aid 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, S ecretary o f the Treasury. (SUBM IT W IT H D U PL IC A T E W H IT E COPY) Su bscriber's Reference No. ESC 1 Subscription Number 1 United States o f America 1% percent Treasury Certificates o f Indebtedness of Series C-1952, maturing August 15, 1952, must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION F O R U N IT E D STA TE S OF A M E R IC A 2 PE R C E N T T R E A S U R Y C E R TIFICATES OF INDEBTEDNESS O F SERIES C-1953, D A TE D A U G U ST 15, 1952, DUE A U G U ST 15, 1953 Important Subject to the reservations in Treasury Department Circular No. 912, dated August 4, 1952, all subscriptions will be allotted in full. F ederal R eserve B a n k of N ew Y ork, Dated at Fiscal Agent o f the United States, Federal Reserve P. O. Station, New York 45, N. Y. Attention Government Bond Department— 2nd Floor D ear 19 5 0 S ir s : Subject to the provisions of Treasury Department Circular No. 912, dated August 4, 1952, the undersigned hereby subscribes for United States of America 2 percent Treasury Certificates of Indebtedness of Series C-1953 as stated below : F or own account........................................................................................................................................ $................................. F or our customers (fo r use of banking institutions) as shown on reverse side of this form $................................. Total subscription.............................................................. $................................. and tenders in payment therefor a like par amount o f United States of America 1% percent Treasury Certificates of Indebtedness of Series C-1952, maturing August 15, 1952, as follow s: _ , . , , „ To be delivered to you To be withdrawn from for our a<5COunt by............................................... Delivered to securities held by you you herewith $............................ for our a c c o u n t...........$............................................................................ $................................. L Pay interest due August 15, 1952, on maturing certificates as follows: B y c h e c k ............................................................................. □ B y credit to our reserve account................................. □ „ ---------------------------------------------------- — --------------------------------- ■ —... ............. - -------- List serial numbers Denomi nation 1 $ ( I f in s u ffic ie n t s p a c e , Face amount ---- ------ 1 -" -T --- '- - C E R T IF IC A T E S D E SIR E D IN E XCH AN G E C E R T IF IC A T E S SU RREN D ERED ieces ---- Denomi nation Pieces u se ba ck o f fo rm ) $ 1,000 Face amount Leave this spacc blank 1,000 5,000 5,000 10,000 10,000 100,000 100,000 1,000,000 1,000,000 TO T A L TO T A L ----- —----------=------------ ;-------------- ;— ;---------- ;-----;---------- ' m Dispose o f □ 1. □ 2. □ 3. □ 4. securities issued on this subscription as indicated below : Deliver over the counter to the undersigned □ Ship to the undersigned H old in safekeeping (fo r member bank only) H old as collateral for Treasury Tax and Loan Account 5. Special instructions: (IM P O R T A 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 (if 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) E L — — - t Subscription sujpnitted by TO SU B S C R IB E R : Please indicate i f this ia a confirmation. YES. B y .... (Please print) (Official signature required) NO... (Title) Street address ....................................... The subscription books will close at the close o f business August 7, 1952 City, Town or Village, P. O. No., and State Spaces below are for the use o f the Federal Reserve Bank of New York G o v e r n m e n t B o n d R ecord S a f e k e e p in g R ecord V a u l t R ecord Securities Securities 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 obligations in the amount indicated above. Checked by and delivered----------------Delivered ■ ---------- -------------- = C E R T IF IC A T E S ISSUED IN E XC H A N G E Denomi nation Pieces percent Treasury Certificates o f Indebtedness of ries C-1953 issued in exchange fo r 1 % percent easury Certificates o f Indebtedness o f Series C-1952 $ 1,000 5,000 nturing August 15, 1952 10,000 100,000 D E L IV E R Y C O M P L E T E D 1,000,000 TO T A L Face amount Numbers -- List o f customers included in the foregoing subscription Amount Subscribed Name o f Customer Address (P lease print or use typewriter) o l a h lt l o — ............... ............r ........... DENOMINATIONS AND SERIAL NUMBERS OF CERTIFICATES SURRENDERED (D U P L IC A T E C O PY F O R USE OF F E D E R A L R E SE R V E B A N K OF N E W Y O R K ) S u b scrib er’s Reference No. S u b s e r ip t io n N u m b e r ES C 2 United States of America 1% percent Treasury Certificates of Indebtedness of Series C-1952, maturing August 15, 1952, must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION FOR UNITED STATES OF AMERICA 2 PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES C-1953, DATED AUGUST 15,1952; DUE AUGUST 15,1953 Important Subject to the reservation* in Treasury Department Circular No. 912, dated August 4, 1952, all subscriptions will be allotted in full. F D R eserve B a n k of N e w Y o r k , Dated at Fiscal A gent o f the United States, Federal Reserve P. 0 . Station, New York 45, N. Y. Attention Government Bond Department— 2nd Floor ederal ear 1 9 52 S ir s : Subject to the provisions of Treasury Department Circular No. 912, dated August 4, 1952, the undersigned hereby subscribes for United States of America 2 percent Treasury Certificates of Indebtedness of Series C-1953 as stated below : F o r 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 of America 1% percent Treasury Certificates of Indebtedness of Series C-1952, maturing August 15, 1952, as follow s: „ To be delivered to you To be withdrawn from for our acc0unt by................. .............................. Delivered to securities held by you you herewith $............................ for our a c c o u n t...........$............................................................................ $................. ............... Pay interest due August 15, 1952, on maturing certificates as follows: B y c h e c k ............................................................................. □ B y credit to our reserve account................................. □ C E R T IF IC A T E S D E SIR E D IN E XC H A N G E C E R T IF IC A T E S SU RRENDERED List serial numbers Denomi nation ( I f in s u ffic ie n t s p a c e , Face amount Denomi nation Pieces u se ba ck o f fo rm ) $ 1,000 Face amount Leave this space blank 1,000 5,000 5,000 10,000 10,000 100,000 100,000 1 ,000,000 1 ,000,000 TOTAL TOTAL Dispose o f securities issued on this subscription as indicated below : | [ 1 . Deliver over the counter to the undersigned D 5. Special instructions: □ □ □ 2. Ship to the undersigned 3. H old in safekeeping (fo r member bank only) 4. H old as collateral fo r Treasury Tax and Loan Account (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 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 TO S U B S C R IB E R : Please indicate i f this is a confirmation. YES.. B y .... (Please print) (T itle ) (Official signature required) NO... Street address ....................................... The subscription books will close at the close o f business August 7, 1952 City, Town or Village, P. O. No., and State Spaces below are for the use of the Federal Reserve Bank of New York V a u l t R ecord Securities received by- Released Taken from Vault- G o v e r n m e n t B on d R ecord S a f e k e e p in g R ecord Securities received by- 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 obligations in the amount indicated above. Counted j&r Checked Checked byDelivery Receipt Checked by and delivered- Subscriber. B y. Date. Delivered C E R T IF IC A T E S ISSUED IN E XC H A N G E Subscription N o...................................................................... Denomi nation Pieces 2 percent Treasury Certificates o f Indebtedness o f Series C-1953 issued in exchange for 1 % percent Treasury Certificates o f Indebtedness o f Series C-1952 maturing August 15, 1952 $ 1,000 5,000 10,000 100,000 1,000,000 TOTAL Face amount Numbers List o f custom ers included in the foregoing subscription Amount Subscribed Name of Customer Address ( Please print or use typewriter) DEN OM IN ATIONS AND S E R IA L NUMBERS OF C E R T IF IC A T E S SURRENDERED (SU BM IT W IT H D U PL IC A T E W H IT E C O PY) Subscriber’s Reference No. Subscription Number ES-C 3 United States of America 1% percent Treasury Certificates of Indebtedness of Series D-1952, maturing September 1, 1952, must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION FOR UNITED STATES OF AMERICA 2 PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES C-1953, DATED AUGUST 15,1952, DUE AUGUST 15,1953 Important it . . Subject to the reservations in Treasury Department Circular No. 912, dated August 4, 1952, all subscriptions will be allotted in full. F ed eral R eserve B a n k of N e w Y o r k , Dated at Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, ........................... New York 45, N. Y . Attention Government Bond Department— 2nd Floor .1952 D ear S ir s : Subject to the provisions of Treasury Department Circular No. 912, dated August 4, 1952, the undersigned hereby subscribes fo r United States of America 2 percent Treasury Certificates o f Indebtedness of Series C-1953 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 1% percent Treasury Certificates of Indebtedness o f Series D-1952, maturing September 1, 1952, as follows: ^ , . To be delivered to you To be.T It\d,;a™ from for our account by............................................... Delivered to securities held by you you herewith $............................. fo r our a c c o u n t...........$............................................................................ $................................. I Pay accrued interest from October 1, 1951, to August 15, 1952, on certificates surrendered ($16.34221 per $1000) as follows: B y c h e c k ............................................................................. □ ‘ B y credit to our reserve account................................. □ C E R T IF IC A T E S D E S IR E D IN E XC H A N G E C E R T IF IC A T E S SU RRENDERED Denomi nation Pieces $ List serial numbers (If insufficient space, use back of form) Face amount Denomi nation Pieces $ 1,000 Leave this space blank 1,000 5,000 5,000 10,000 10,000 100,000 100,000 1 ,000,000 1 ,000,000 TOTAL TOTAL ===== Dispose o f securities issued on this subscription as indicated below : □ 1. Deliver over the counter to the undersigned □ □ 2. Ship to the undersigned □ 3. H old in safekeeping (fo r member bank only) □ 4. H old as collateral for Treasury Tax and Loan Account Face amount 5. Special instructions: (IM P O R TA N T : No changes in delivery instructions will be accepted. A separate subscription must be submitted fo r each group o f 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 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 (Please print) T O S U B S C R IB E R : P lea se indicate i f this is a confirmation. YES. B y .... (Title) (Official signature required) NO.... Street a d d r e s s ....................................... The subscription books will close at the close o f business August 7, 1952 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 Securities received Released Taken from Vault- G o v e r n m e n t B o n d R ecord S a f e k e e p in g R ecord 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 or N e w Y o r k the above described United States obligations in the amount indicated above. Counted Checked Checked b y- by- Checked by and delivered- Subscriber. By. Date. Delivered C E R T IF IC A T E S ISSUED IN E XC H A N G E Subscription No. Pieces 2 percent Treasury Certificates o f Indebtedness o f Series C-1953 issued in exchange for 1 % percent Treasury Certificates o f Indebtedness o f Series D-1952 maturing September 1, 1952 Denomi nation 1,000 5,000 10,000 100,000 D E L IV E R Y C O M P L E T E D , 1 000,000 TOTAL Face amount Numbers L ist o f cu stom ers in clu d e d in the fo re g o in g su bscrip tion Amount Subscribed Name of Customer Address ( Please print or use typr.vriter) DEN OM IN ATIONS AND S E R IA L NUM BERS OF C E R T IF IC A T E S SURRENDERED = F (D U P L IC A T E C O PY FO R USE OF F E D E R A L R E SE R V E B AN K OF N EW Y O R K ) Subscriber’ a Reference No. Subscription Number E S-C 4 United States of America 1% percent Treasury Certificates of Indebtedness of Series D-1952, maturing September 1, 1952, must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION FOR UNITED STATES OF AMERICA 2 PERCENT TREASURY CERTIFICATES OF INDEBTEDNESS OF SERIES C-1953, DATED AUGUST 15,1952, DUE AUGUST 15, 1953 Important Subject to the reservations in Treasury Department Circular No. 912, dated August 4, 1952, all subscriptions will be allotted in full. Dated at Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, -iqco New York 45, N. Y. . ................................................................................. Attention Government Bond Department— 2nd Floor D e a r Sm s: F ederal R eserve B a n k op N e w Y o r k , Subject to the provisions o f Treasury Department Circular No. 912, dated August 4, 1952, the undersigned hereby subscribes for United States of America 2 percent Treasury Certificates o f Indebtedness o f Series C-1953 as stated below: F or own account........................................................................................................................................ $................................. F or our customers (fo r use of banking institutions) as shown on reverse side o f this form $................................. Total subscription.............................................................. $................................. and tenders in payment therefor a like par amount o f United States o f America 1% percent Treasury Certificates of Indebtedness o f Series D-1952, maturing September 1, 1952, as follow s: T ° ^ withdrawn from I™ i)elivered to securities held by you y ................................................ for our a c c o u n t...........$................. .......................................................... $................................. you herewith $............................ Pay accrued interest from October 3, 1951, to August 15, 1952, on certificates surrendered ($16.34221 per $1000) as follow s: B y c h e c k ............................................................................. □ By credit to our reserve account................................... □ C E R T IF IC A T E S SU RRENDERED C E R T IF IC A T E S D E SIR E D IN E XC H A N G E List serial numbers Denomi nation ( I f insufficient space, use back o f form ) Face amount Pieces Denomi nation 1,000 1,000 5,000 5,000 10,000 10,000 100,000 100,000 1,000,000 1 , 0 0 0 ,0 0 0 TOTAL TO T A L $ Dispose o f securities issued on this subscription as indicated below : □ 1 Deliver over the counter to the undersigned □ □ 2. Ship to the undersigned □ 3. H old in safekeeping (fo r member bank only) □ 4. H old as collateral fo r Treasury Tax and Loan Account Face amount Leave this space blank 5. Special instructions: (IM P O R T A N T: No changes in delivery instructions will be accepted. A separate subscription must be submitted fo r each group o f 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 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) S u b scrip tion subm itted by (Please print) O SU B S C R IB E R : Pleaae indicate i f this is a confirmation. YE S . B y. (Official signature required) NO.... (T itle) Street address The subscription books will close at the close o f business August 7, 1952 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 ault R ec or d Securities received b y- Released Taken from Vault- G o v e r n m e n t B o n d R ecord S a f e k e e p in g R ecord Securities received by- 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 obligations in the amount indicated above. Counted Checked Checked byDelivery Receipt Checked by and delivered- Subscriber. Date. Delivered B y. C E R T IF IC A T E S ISSUED IN E XCH AN G E ubscription No. Denomi nation Pieces percent Treasury Certificates o f Indebtedness of es C-1953 issued in exchange for 1 % percent iry Certificates o f Indebtedness o f Series D-1952 iring September 1, 1952 $ 1,000 5,000 10,0 00 100,000 1 ,000,000 TOTAL Face amount Numbers List o f custom ers in clu d e d in the fo re g o in g su bscrip tion Amount Subscribed Name of Customer Address (Please print or use typewriter) I 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 C E R T IF IC A T E S SU RREN DERED