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FED ERAL RESER VE BANK O F NEW YORK Fiscal Agent of the United States Circular No. 3 9 9 3 T July 6, 1953 J [ CASH OFFERIN G 2 l/2 Percent Treasury Certificates o f Indebtedness of Series C-1954 Dated July 15, 1953 Due March 22, 1954 To all Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: The follow in g statement was made public tod a y: Secretary o f the Treasury H um phrey announced today the details o f a cash offering of $5,500,000,000, or thereabouts, o f 2 1/s> percent Tax A nticipation Certificates o f Indebtedness to be dated J u ly 15, 1953, and to mature on March 22, 1954. The new certificates w ill be accepted at par plus accrued interest to maturity in paym ent o f income and profits taxes due on M arch 15, 1954. Interest will be payable with the principal at m aturity on those certificates not presented in payment o f taxes. Subscriptions from commercial banks fo r their ow n account w ill be received without deposit. Other subscriptions must be accompanied b y paym ent o f 10 percent o f the amount o f certificates applied for. Subject to the usual reservations, subscriptions fo r amounts up to and including $100,000 will be allotted in full, and subscriptions fo r amounts over $ 100,000 will be allotted on an equal p er centage basis to be publicly announced when allotments are made, but not less than $ 100,000 on any one subscription. The subscription books may be closed at any time without notice. Commercial banks and other lenders are requested to refrain from making unsecured loans, or loans collateralized in whole or in part by the certificates subscribed fo r, to cover the deposits which are required to be paid when subscriptions are entered. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Office o f the Treasurer o f the United States. Commercial banks are requested to enter their subscriptions directly with the Federal Reserve Bank o f the D istrict in which they are located, even though payment fo r or delivery o f the certificates allotted is desired in another District. The terms o f this offerin g are set forth in T reasury D epartm ent Circular No. 925, dated J u ly 6, 1953, a co p y o f which is printed on the reverse side o f this circular. In a statement last Thursday, S ecretary H um phrey announced that, in view o f the large size o f the issue, F ederal R eserve Banks will be prepared to act prom ptly on requests fo r tem p ora ry increases in T reasury T ax and L oan A ccount authorizations; this Bank stands ready to act in accordance with the statement. The subscription books are now open and subscriptions w ill be received by this Bank as fiscal agent o f the U nited States. S ubscriptions should be made on official subscription form s. P lea se n ote in the T rea su ry statem ent that the subscription boohs m ay be closed at any time w ithout notice. T h erefore, subscriptions should be sent to us im m ediately. I f filed b y telegram or letter, a subscription should be confirm ed im m ediately b y mail on the form s provided. A llan S peoul, P resident. (over) UNITED STATES OF AMERICA 2yz PERCENT TR E A SU R Y CERTIFICATES OF IN DEBTEDN ESS O F SERIES C-1954 Dated and bearing interest from July 15, 1953 Due March 22, 1954 TREASU RY DEPARTM ENT, 1953 D epartm en t Circular N o . 9 2 5 O f f ic e o f t h e S e c r e t a r y , Fiacal Service B ureau o f th e Public D ebt Washington, July 6, 1953. I. O F F E R IN G O F C E R T I F I C A 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 from the people o f the United States fo r Tax A nticipation Certificates of Indebtedness o f the United States, designated 2 ^ percent Treasury Certificates o f Indebtedness o f Series C-1954. The amount o f the offering is $5,500,000,000, or thereabouts. 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 J u ly 15, 1953, and will bear interest from that date at the rate of 2 Yz percent p er annum, payable with the principal at maturity on March 22, 1954. They will not be subject to call fo r 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, o r laws amendatory or supplementary 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, or by any local taxing authority. 3. The certificates will be acceptable to secure deposits o f public moneys. They will be accepted at par plus accrued interest to m aturity in paym ent o f income and profits taxes due on March 15, 1954. 4. Bearer certificates will be issued in denominations o f $1,000, $5,000, $10,000, $100,000 and $1,000,000. The certificates will not be issued in registered form . 5. The certificates will be subject to the general regulations o f the Treasury Department, now or here after 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 w ill be received at the Federal Reserve Banks and Branches and at the Office o f the Treasurer o f the United States, W ashington. Commercial banks, which fo r this purpose are defined as banks accepting demand deposits, 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. Others than commer cial banks will not be perm itted to enter subscriptions except fo r their own account. Subscriptions from commercial banks fo r their ow n account will be received without deposit. Subscriptions from all others must be accompanied by payment o f 10 percent o f the amount o f certificates applied for. 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 notice; and any action he may take in these respects shall be final. Subject to these reservations, subscriptions fo r amounts up to and including $ 100,000 will be allotted in full, and subscrip tions fo r amounts over $ 100,000 will be allotted on an equal percentage basis to be publicly announced when allotments are made, but not less than $100,000 on any one subscription. Allotm ent notices will be sent out prom ptly upon allotment. IV . PAYM ENT 1. Payment at par and accrued interest, if any, fo r certificates allotted hereunder must be made on or before J u ly 15, 1953, or on later allotment. In every case where payment is not so com pleted, the pay ment with application up to 10 percent o f the amount o f certificates applied fo r shall, upon declaration made b y the Secretary o f the Treasury in his discretion, be forfeited to the United States. A n y qualified depositary will be perm itted to make paym ent by credit fo r certificates allotted to it fo r itself and its customers up to any amount fo r which it shall be qualified in excess o f existing deposits, when so notified by the Federal Reserve Bank o f its District. V. 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 fo r 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. G. M. H U M PH R E Y , S e c r e ta r y o f th e T re a s u ry . (This form to be used for all subscriptions) CS-7-53 Subscription Number CASH SUBSCRIPTION For United States o f America 2^4 Percent Treasury Certificates of Indebtedness of Series C-1954, dated July 15, 1953, due March 22, 1954 Subscription b o o k s m ay b e closed at any tim e without notice. Im portant 1. Subscriptions from commercial banks fo r their own account will be received without deposit; subscriptions from all others must be accompanied by payment o f 10 percent o f the amount o f certificates applied for. 2. A m ount o f certificates applied fo r must be in multiples o f $1,000. F D N ew Y o r k , Fiscal A gent o f the United States, Federal Reserve P. 0 . Station, New Y ork 45, N. Y . ederal ear R eserve B a n k of Dated at .1953 A tten tion: Securities Department— 9th F loor S ir s : Pursuant to the provisions o f Treasury Department C ircular No. 925, dated J u ly 6, 1953, the undersigned hereby subscribes fo r United States o f America 2 ^ percent Treasury Certificates o f Indebtedness o f Series C-1954, as follow s: F o r own account ......................................................................................................................................... $................................... F o r our customers, shown on reverse side (fo r use o f commercial b a n k s )............................ $................................... Total subscription................................................................ $ ................................... Paym ent fo r these securities will be made on or before J u ly 15, 1953, as follow s: By By By By cash ............................................................................................................................................................................................. check ........................................................................................................................................................................................... charge to our reserve account....................................................................... •................................................................... credit to Treasury Tax and Loan A ccou n t.................................................................................................................... □ □ □ □ ( I f a com mercial bank is subscribing fo r account o f customers,the follow ing certification is made a part o f this subscription) W e H e r e b y C e r t i f y that we have received applications from our customers in the amounts set opposite the customers’ names on the list on the reverse side o f this form which is made a part o f this subscription; that there has been paid to us by each such customer, not subject to withdrawal until after allotment and payment in fu ll fo r certificates allotted, 10 percent o f the amount applied for, and that the amounts o f such payments have not been loaned by us to any o f such customers. (F ill in all required spaces before signing) TO S U B S C R IB E R : M ark ( X ) in proper space to indicate if this i s : (N am e o f subscriber— Please print o r typewrite) Original su b s cr ip tio n ...................... □ Confirmation o f a telegram ........... □ Confirmation o f a letter................. B y. (T itle) (O fficial signature) □ A ddress ......................................................................... Spaces b e lo w are fo r the use o f the Federal R eserve Bank B / C ............... $. B lotter.............. R / A ............... $. Exam ined........ C .................... $. Acknowledged. D .................... $_ Carded............. A LL O TM E N T Figured Checked Advised (F o r use of commercial bank subscribers on ly) List o f custom ers inclu ded in this subscription (Pleaseprint or typewrite) Leave blank Name of Customer Address Amount Subscribed Leave blank FED E R A L R E S E R V E BANK OF NEW YORK S E C -A T S -1 .B -S S E C U R IT IE S D E P A R T M E N T AD V IC E T O S U B S C R IB E R To S u b s c r ip tio n N o. Date r Your cash subscription for $ United States o f America 2V& Percent Treasury Certificates o f indebtedness o f Series C-1954, Dated July 15,1953, Due March 22,1954 has been received by this Bank, as fiscal agent o f the United States, and, pursuant to Treasury Department Circular No. 925, which offers the above-mentioned obligations o f the United States, allotment notices w ill be sent out prom ptly upon allotment and allotments will be made on the basis and up to the amounts indicated by the Secretary o f the Treasury to this Bank. F ederal R eserve B a n k of N e w Y o rk , Fiscal Agent of the United States. Checked b y FEDERAL RESERVE BANK O F NEW YORK S E C - A T S - 2 .B - 8 S E C U R IT IE S D E P A R T M E N T CA RD R E C O R D Subscription No. To Date Cash subscription received from above subscriber for $ United States o f America Vfo. Percent Treasury Certificates o f Indebtedness o f Series C-1954, Dated July 15,1953, Due March 22,1954 FED ERAL RESERVE BAN K OF NEW YORK To S E C —A T S — B . B - S S E C U R IT IE S D E P A R T M E N T S E C U R IT Y FILE S C O P Y Subscription No. Date Cash subscription received from above subscriber fo r $ United States o f America 2 }6 Percent Treasury Certificates o f Indebtedness o f Serial C-1954, Dated July 15,1953, Due March 22,1954 Subscription Number FED ER AL RESERVE BANK OF NEW YORK F IS C A L A G EN T OF T H I UN ITED S T A T E S NOTICE OF ALLOTMENT For United States of America 2 % Percent Treasury Certificates of Indebtedness of Series C-1954 1 To Subscriber: On you r subscription, numbered as above, fo r $ (p a r am ount) o f— U N IT E D S T A T E S O F A M E R IC A 2 H PER CENT T R E A S U R Y C E R T IF IC A T E S O F IN D E BTED N ESS OF SERIES C -1 9 5 4 D A T E D JULY IS , 1 9 5 3 , D UE M A R C H 2 2 , 1 9 5 4 which you filed pursuant to the provisions o f Treasury Department Circular No. 925, dated J u ly the Treasury has allotted certificates to you in the amount o f— 6, 1953, the Secretary o f $ Important 1. To expedite delivery o f the securities allotted to you and to facilitate prom pt com pletion o f this transaction, please fill in , sig n a n d r e tu r n im m e d ia te ly th e a tta c h e d L e t te r o f In s tru ctio n s t o t h e 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 , F is ca l A g e n t o f t h e U n ite d S ta tes, N e w Y o r k 4 5 , N . Y . Paym ent 2. I f payment for securities allotted is made on or before July 15, 1953, payment must be made at p a r ; if made after J u ly 15, 1953, payment must be made at par plus accrued interest. Payment may be made by check, cash, charge, or credit as follow s: By Check— The check should be made payable to the order o f the FEDERAL RESERVE BANK OF NEW YORK, FISCAL AGENT OF THE UNITED STATES. The securities will not be delivered by this Bank until the proceeds o f a check have been collected. The proceeds o f a check drawn on the Federal Reserve Bank o f New York are immediately available. By Cash— Payment may be made in cash. By Charge—A member bank may make payment by requesting us to charge its reserve account, or a nonmember clearing bank may make payment by requesting us to charge its clearing account. By Credit— (a ) I f subscriber is a depositary o f public moneys qualified under the provisions o f Treasury Department Circular No. 92 (Revised), it will be permitted to make payment by credit in the Treasury Tax and Loan Account for securities allotted to it for its own account and for its customers up to any amount for which it shall be qualified in excess o f existing deposits. (b ) Securities o f this issue allotted to a qualified depositary for its own account may be pledged with the Federal Reserve Bank o f New York as collateral security for deposits in the Treasury Tax and Loan Account. D elivery 3. (a ) D elivery o f the securities allotted will be made by the Federal Reserve Bank o f New Y ork at its H ead Office in New Y ork City, and will not be made before J u ly 15, 1953. (b ) The securities will be delivered over the counter to a representative o f the subscriber, provided the representa tive presents a letter o f authority identifying him and signed officially by the subscriber. S afek eepin g 4. Securities allotted to member banks fo r their own account may be left with this Bank fo r safekeeping pursuant to the terms o f our Operating Circular No. 14. F ederal R eserve B a n k of N e w Y Fiscal Agent o f the United States. Checked by. N A-BS ork , ( This letter o f instructions, accom panied b y attached duplicate copy, should b e filled in and returned to Federal Reserve Bank o f New Y o rk ) Subscription Number LETTER OF INSTRUCTIONS T o F e d e r a l R e serve B a n k op N e w Y o r k , Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, New York 45, N. Y. Attention: Government Bond Department— 2nd Floor From (Name and address of Subscriber) Dated a t ................. .1953 On our subscription, numbered as above, for $ (par amount) of__ UNITED ST A T E S OF AM ERIC A 2 H PERCENT TR EA SU R Y CERTIFICATES OF INDEBTEDNESS OF SERIES C-1954 D A T E D JULY 15, 1953, DUE MARCH 22, 1954 which we filed pursuant to the provisions o f Treasury Department Circular No. 925, dated July 6, 1953, we have received your notice of allotment stating that the Secretary o f the Treasury has allotted certificates to us in the amount of— As requested, we send you the following instructions: Payment for the securities allotted will be made— □ B y charge to our reserve account, which you are authorized to make □ B y check □ B y cash □ B y credit to Treasury Tax and Loan Account on our books as indicated on the attached Certificate o f Deposit which we have officially executed. ----------- ----------- ----------------- --------- --------------------------— ---------------------------------------------------------- Denominations desired Denomi nation tees $ Face amount Dispose o f securities issued, as follow s: □ □ □ □ □ Leave this space blank 1,000 1. 2. 3. 4. 5. Deliver over the counter to the undersigned Hold in safekeeping (for member bank only) Hold as collateral for Treasury Tax and Loan Account Ship to the undersigned Special instructions: 5,000 10,000 100,000 The undersigned (if a bank or trust company) hereby certifies that the securities to be disposed of as indicated in items 2 and 3 above are the sole property of the undersigned. 1,000,000 (IM P O R T A N T : be accepted.) TOTAL This letter o f instructions must be signed officially in the space provided and re turned immediately to Submitted by Federal Reserve Bank o f New York, Address ........ No changes in delivery instructions will (Please print) B y .................. (Official signature required) (Title) Fiscal Agent o f the United States. Space* below are for the use of Federal Reserve Bank o f New York Government Bond Department Security Custody Department Safekeeping Department Payment received signed: Counted .................................................................. Delivar against payment o f $ .................................. signed: DELIVERY RECEIPT Received from Federal Reserve Bank o f New York, Fiscal Agent o f the United States, the above described securities allotted in the amount indicated above. Subscriber........................................................................................................ Date. By. SPT If paym ent is to b e m ade b y credit to Treasury T ax and Loan A ccount, the following: Certificate o f Deposit should b e officially executed. TO F B O S N A I. R E S E R V E B A N K O F N E W Y O R K G o v e rn m e n t B o n o D e p a rtm e n t (T his certificate must be executed .when subscriber is making payment through Treasury Tax and Loan Account) Certificate o f Deposit in Treasury Tax and Loan Account The undersigned depositary certifies that it will deposit on July 15, 1953, to the credit of Federal Reserve Bank o f New York, Fiscal Agent o f the United States, in the Treasury Tax and Loan Account, to be held subject to withdrawal on demand the above sum in payment of $ (par value) 2^ percent Treasury Certificates o f Indebtedness of Series C-1954, dated July 15, 1953, due March 22, 1954, allotted as per Notice of Allotment received from you. (Nam e of depositary) B y.................... (Official signature required) Street address Dated. (City, Town or Village, P. O. No., and State) (Title) (D U P L IC A T E F O R U SE O F 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 ) Subscription Number 3 LETTER OF INSTRUCTIONS To F R ederal eserve B a n k of N e w Y o rk Fiscal A gent o f the United States, Federal Reserve P. 0 . Station, New Y ork 45, N. Y . , A tten tion : Government Bond Department— 2nd F loor From (Name and address of Subscriber) Dated a t ......................................................... ....................................................................1953 On our subscription, numbered as above, fo r $ (pa r amount) o f— U N IT E D S T A T E S O F A M E R IC A 2 H PER CE N T T R E A S U R Y C E R T IF IC A T E S O F IN DEBTEDN ESS O F SERIES C -1 9 5 4 D A T E D JU LY 1 5 , 1 9 5 3 , D U E M A R C H 2 2 , 19 54 which we filed pursuant to the provisions o f Treasury Departm ent C ircular No. 925, dated J u ly 6, 1953', we have received your notice o f allotment stating that the Secretary o f the Treasury has allotted certificates to us in the amount of— $ A s requested, we send you the follow ing instructions: Payment fo r the securities allotted w ill be made— □ B y charge to our reserve account, which you are authorized to make □ B y check □ B y cash □ B y credit to Treasury T ax and Loan A ccou nt on our books as indicated on the attached Certificate o f Deposit which we have officially executed. D is p o s e o f s e c u ritie s issu ed , as fo llo w s : Denominations desired ces Denomi nation Leave this space blank Face amount □ 1. □ 2. 3. 4. 5. □ $ 1,000 □ □ Deliver over the counter to the undersigned H old in safekeeping (fo r member bank on ly) H old as collateral fo r Treasury T ax and Loan A ccount Ship to the undersigned Special instructions: 5,000 10,000 100,000 The undersigned ( i f a bank or trust com pany) hereby certifies that the securities to be disposed o f as indicated in items 2 and 3 above are the sole property o f the undersigned. 1,000,000 (I M P O R T A N T : be accepted.) TO T AL This letter o f instructions must b e signed officially in the space p rov id ed and re turned im m ediately to Submitted by Federal R eserve Bank o f N ew Y ork , Address ......... No changes in delivery instructions will (Please print) B y .................... (O fficial signature required) (T itle) Fiscal Agent of the United States. Spaces below are for the use o f Federal Reserve Bank o f New York Government Bond Department Security Custody Department Safekeeping Department Payment received signed: Counted .......................................................................... Deliver against payment of $ ...................................... signed: D E L IV E R Y RECEIPT Received from Federal Reserve Bank of New York, Fiscal Agent of the United States, the above described securities allotted in the amount indicated above. Date........................................ Subscriber..................................................................................................................... B y ................................................................................. A L L O T M E N T N O TIC E F O R G O V E R N M E N T BON D D E P A R T M E N T 4 T o S u b s c r ib e r : On your subscription, numbered as above, fo r $ (pa r am ount) o f— U N IT E D S T A T E S O F A M E R IC A 2 ) 6 PER CENT T R E A S U R Y C E R T IF IC A T E S O F IN DEBTEDN ESS O F SERIES C -1 9 5 4 D A T E D JULY 15, 1 9 5 3 , DUE M A R C H 2 2 , 1954 which you filed pursuant to the provisions o f Treasury Department C ircular No. 925, dated J u ly the Treasury has allotted certificates to you in the amount o f— 6, 1953, the * Date Secretary o f / Treas. Tax & Loan Acc. Charge Cash Delivery teller Gov. Deposit Ship Allotment Premium and/or interest Disposition Purchase price Deposit Over counter Safekeeping Principal due Refund Balance Accrued interest Amount due Special delivery instructions A LL O TM E N T N O TICE FO R SECURITIES D E P A R T M E N T 5 To Subscriber: On you r subscription, numbered as above, fo r $ (pa r am ount) o?— U N IT E D S T A T E S O F A M E R IC A 2 H PER CE N T T R E A S U R Y C E R T IF IC A T E S OF IN DEBTEDN ESS O F SERIES C -1 9 5 4 D A T E D JULY 1 5 , 1 9 53 , D U E M A R C H 2 2 , 19 54 which you filed pursuant to the provisions of Treasury Department Circular No. 925, dated July 6 , 1953, the Secretary .of the Treasury has allotted certificates to you in the amount of— A L L O T M E N T N O TIC E FO R SE C U R IT Y FILES 6 To Subscriber: On you r subscription, numbered as above, fo r $ (p a r amount) of— U N IT E D S T A T E S O F A M E R IC A 2 ) 6 PER CENT T R E A S U R Y C E R T IF IC A T E S O F IN D E BTED N ESS OF SERIES C -1 9 5 4 D A T E D JULY 15, 1 9 5 3 , D U E M A R C H 2 2 , 1 9 5 4 which you filed pursuant to the provisions of Treasury Department Circular No. 925, dated July 6 , 1953, the Secretary of the Treasury has allotted certificates to you in the amount of— $ F e d e ra l R eserve B a n k o f N ew Y o rk FILLED ALLOTMENT DELIVERY TICKET 7 To Subscriber: On your subscription, numbered as above, fo r $ U N IT E D S T A T E S O F A M E R IC A (pa r am ount) of— 214 PER CENT T R E A S U R Y C E R T IF IC A T E S O F IN D E BTED N ESS OF SERIES C -1 9 5 4 D A T E D JULY 15, 1 9 5 3 , D UE M A R C H 2 2 , 1 9 5 4 which you filed pursuant to the provisions of Treasury Department Circular No. 925, dated July 6 , 1953, the Secretary of the Treasury has allotted certificates to you in the amount of— $
@FedFRASER