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FE D E RA L R E SE R V E BANK O F NEW YORK Fiscal A g en t o f the U nited States r Circular No. 4 0 3 3 1 L October 28, 1953 J CASH OFFERING 2 % Percent Treasury Bonds o f 1961 Dated and bearing interest from November 9, 1953 Due September 15, 1961 To A ll Banking In stitution s, and Others Concerned, in the Second Federal R eserve D istrict: The T reasury is today offerin g fo r cash subscription an issue o f $2,000,000,000, or there abouts, o f fu lly marketable 2 % percent T rea su ry bonds, to be dated N ovem ber 9, 1953, and to m ature Septem ber 15, 1961. The term s o f this offerin g are set fo rth in T reasury D epartm ent C ircular No. 933, dated O ctober 28, 1953, a cop y o f which is printed on the reverse side o f this circular. Subscriptions from com m ercial banks, which fo r this purpose are defined as banks accept in g demand deposits, fo r their own account w ill be received w ithout deposit. A paym ent o f 10 percent o f the amount o f bonds subscribed fo r, not subject to w ithdraw al until after allot ment, must be made on all other subscriptions. Com m ercial banks and other lenders are requested by the T rea su ry to refrain fro m making unsecured loans, o r loans collateralized in w hole or in p a rt b y the bonds subscribed fo r to cover the 10 percent deposits required to be paid when subscriptions are entered, and a certifi cation by the subm itting bank that no such loan has been made w ill be required on each sub scription entered b y it fo r account o f its custom ers. The T reasury reserves the right to reject o r reduce any subscription, and to make differ ent percentage allotments to various classes o f subscribers. The subscription books are now open and subscriptions w ill be received b y this Bank as fiscal agent o f the U nited States. Subscriptions should be made on official subscription form s. P lea se n ote in the T rea su ry circular that the subscription books m ay be closed at any tim e w ithout notice. T h erefo re, 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 m ail on the form s provided. A llan S proul, P res id en t. ( over) UNITED STATES OF AMERICA 2 % PERCE N T T R E A S U R Y BONDS OF 1961 Dated and bearing interest from November 9, 1953 Due September 15, 1961 Interest payable March 15 and September 15 I9S3 Department Circular No. 933 TREASURY DEPARTM ENT, O f f ic e Fiieal Service Bureau of the Public Debt I. OFFERING OF BONDS 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, at par and accrued interest, from the people o f the United States for bonds o f the U nited States, designated 2 % percent Treasury Bonds o f 1961. The amount o f the offer ing is $2,000,000,000, or thereabouts. In addition to the amount offered fo r public subscription, the Secretary o f the Treasury reserves the right to allot lim ited amounts o f these bonds to Government Investment accounts. II. DESCRIPTION OF BONDS 1. The bonds will be dated November 9, 1953, and w ill bear interest from that date at the rate o f 2 % percent per annum, payable on a semiannual basis on September 15, 1954, and thereafter on March 15 and September 15 in each year until the principal amount becomes payable. They will mature September 15, 1961, and will not be subject to call fo r redem ption p rior to maturity. 2. The income derived from the bonds shall be subject to all taxes now or hereafter imposed under the Internal Revenue Code, or laws amendatory or supplementary thereto. The bonds shall be subject to estate, inheritance, g ift or other excise taxes, whether Federal or State, but shall be exem pt 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 bonds w ill be acceptable to secure deposits o f public moneys. 4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, w ill be issued in denominations o f $500, $1,000, $5,000, $J0,000, $100,000 and $1,000,000. Provision w ill be made fo r the interchange o f bonds o f differ ent denominations and o f coupon and registered bonds, and fo r the transfer o f registered bonds, under rules and regulations prescribed b y the Secretary o f the Treasury. 5. The bonds w ill be subject to the general regu lations o f the Treasury Department, now or here a fter prescribed, governing United States bonds. H I. SUBSCRIPTION AN D ALLOTMENT 1. Subscriptions will 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 de fined as banks accepting demand deposits, may submit subscriptions fo r account o f customers, but of t h e Secretary, W ashington, O ctober 28,1953. on ly the Federal Reserve Banks and the Treasury Department are authorized to act as official agencies. Others than commercial banks w ill n ot be permitted to enter subscriptions except fo r their ow n account. Subscriptions from com mercial banks fo r their own account will be received without deposit. Subscrip tions from all others must be accompanied b y p ay ment o f 1 0 percent o f the amount o f bonds applied for, not subject to withdrawal until after allotment. Follow ing allotment, any portion o f the 10 percent payment in excess o f 1 0 percent o f the amount o f bonds allotted may be released upon the request o f the subscribers. 2. The Secretary o f the Treasury reserves the right to reject or reduce any subscription, to close the books as to any or all subscriptions at any time without notice, to allot less than the amount o f bonds applied fo r, and to make different percentage allotments to various classes o f subscribers; and any action he may take in these respects shall be final. The basis o f the allotment will be publicly an nounced, and allotment notices w ill be sent out prom ptly upon allotment. IY . PAYM ENT 1. Payment at par and accrued interest, i f any, fo r bonds allotted hereunder must be made or com pleted on or before November 9, 1953, or on later allotment. In every case where paym ent is not so completed, the paym ent with application up to 1 0 percent o f the amount o f bonds allotted shall, upon declaration made by the Secretary o f the Treasury in his discretion, be forfeited to the U nited States. A n y qualified depositary w ill be perm itted to make payment by credit fo r bonds 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. GENERAL PROVISIONS 1. A s fiscal agents o f the United States, Federal Reserve Banks are authorized and requested to re ceive 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 of the respective Districts, to issue allotment notices, to receive payment fo r bonds allotted, to make de livery o f bonds on full-paid subscriptions allotted, and they may issue interim receipts pending de livery o f the definitive bonds. _ 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 w ill be communicated prom ptly to the Federal Reserve Banks. G. M . H U M PH R E Y , S ecretary o f the Treasury. (This form to be used for all subscriptions) Subscription Number ,.n .5 3 CASH SUBSCRIPTION FOR UNITED STATES OF AMERICA 2 % PERCENT TREASURY BONDS OF 1961 DATED NOVEMBER 9, 1953, DUE SEPTEMBER 15, 1961 Subscription books may be closed at any time without notice. 'mportant .11 1. Subscriptions from commercial banks fo r their own account will be received without deposit; subscriptions from others must be accompanied by payment o f 1 0 percent o f the amount o f bonds applied for. 2. Please use separate form s fo r coupon bonds and registered b on d s; do not subscribe to both registered and coupon >onds on the same form . Fe d e r a l R e s e r v e B ank of New Y Dated at.............................................................................. ork, Fiscal A gen t o f the U nited States, Federal Reserve P . 0 . Station, New Y ork 45, N. Y . ..................................................................................... 1953 A ttention: Securities Department— 9th F loor Sm s: Pursuant to the provisions o f Treasury Department Circular No. 933, dated October 28, 1953, the undersigned hereby ubscribes fo r United States o f America 2 % percent Treasury Bonds o f 1961, as stated b elow : )ear F o r own a c c o u n t ......... *........................................................................................................................................ $................................... F o r our customers as listed on reverse side (fo r use o f commercial banks o n l y ) .......................... $................................... Total subscription......................................................................... $................................... Payment fo r the bonds allotted will be made on or before November 9, 1953, as follow s: 5y cash ...................................................................................... □ B y charge to our reserve account......................................... □ 5y check B y credit to Treasury Tax and Loan A c c o u n t .................. □ .................................................................................... □ I f a commercial 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’ tames 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 y each such customer, not subject to withdrawal until after allotment, 1 0 percent o f the amount applied for, and that we iave not made unsecured loans, or loans collateralized in whole or in part b y the securities applied for, to supply the mounts o f such payments to any o f such customers. (F ill in all required spaces b efore sign ing) ’O S U B S C R IB E R : Mark ( X ) in proper space to indicate i f this i s : (Name of subscriber— Please print or typewrite) )riginal su b scrip tio n ........... J Confirmation o f a telegram. | Confirmation o f a letter___ □ ......................• • . . • • • • • • • • • • • • • • • • • • • • . . • j ......................... .. (Title) (Official signature) A d d r e s s ............................................................................................................... Spaces below are for the use o f the Federal Reserve Bank P a y m e n t B ecord A LL O TM E N T Exam ined.......................... Acknow ledged.................. Carded............................... $ Figured Checked Advised (F o r use o f commercial bank subscribers on ly) List o f customers included in this subscription (Please print or typewrite) Leave blank Name o f Customer Address A m ount Subscribed fo r
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