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FE D E RA L R E SE R V E BANK O F NEW YORK Fiscal Agent of the United States r Circular N o. 4 2 7 1 T L September 30, 1955 J T R E A S U R Y C A S H O F F E R IN G 214 P ercen t T a x A n ticip a tion Certificates o f Indebtedness o f Series C -1956 T o A ll Banking In stitution s, and Others Concerned, in the Second F ederal R eserve D istrict: The subscription books will open on O ctober 3, 1955, fo r an offering o f $2,750,000,000 of 2 ^ percent T reasury T ax A nticipation Certificates o f Indebtedness. The certificates w ill be dated O ctober 11, 1955, w ill mature June 22, 1956, and w ill be receivable at par and accrued interest to m aturity in paym ent o f income and profits taxes due on June 15, 1956. S ubscrip tions to the certificates from com m ercial banks fo r their own account w ill be received without d e p o s it; subscriptions from others must be accom panied by paym ent o f 5 percent o f the amount o f certificates subscribed fo r. Com m ercial banks w ill be lim ited in their subscriptions fo r the certificates to an amount not exceeding one-half o f the com bined capital, surplus and undi vided profits o f the subscribing bank. The term s o f the offering are set forth in T reasury D epartm ent Circular No. 968, dated October 3, 1955, a cop y o f which is printed on the reverse side o f this circular. Qualified depositaries w ill be perm itted to make paym ent b y credit to T reasury T ax and L oan A ccounts fo r the certificates allotted to them fo r themselves and their customers. Subscriptions will be received by this Bank as fiscal agent o f the U nited States. Subscrip tions should be made on official subscription form s and mailed imm ediately or, if filed by tele graph or letter, should be confirm ed im m ediately by mail on the form s provided. The subscrip tion books will be open fo r on e d a y o n ly , O cto b er 3, 1 9 5 5 ; we therefore suggest you file you r subscription without delay. A n y subscription addressed to a F ederal R eserve Bank or Branch or to the T reasurer o f the United States and placed in the mail before midnight, O ctober 3, will be considered timely. A l l a n S p r o u l , P resident. ( over) UNITED STATES OF AMERICA 214 PERCE N T T R E A S U R Y CERTIFICATES OF INDEBTEDNESS OF SERIES C-1956 T A X ANTICIPATION SERIES Dated and bearing interest from O ctober 11, 1955 1955 D e p a r t m e n t C ir c u la r N o . 9 6 8 D ue June 22, 1956 TREASU RY DEPARTM ENT, O F i s c a l S e r v ic e B u r e a u o f t h e P u b li c D e b t I. O FFERIN G OF CERT IFIC A T E S 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended, invites subscriptions, at par and accrued interest, from the people o f the United States for Tax Anticipation Certificates of Indebtedness of the United States, designated 2^ percent Treasury Certificates of Indebtedness o f Series C-1956. The amount of the offering is $2,750,000,000, or there abouts. The books will be open only on October 3, 1955 for the receipt o f subscriptions. II. D E SC R IP TIO N O F CERT IFIC A T E S 1. The certificates will be dated October 11,1955, and will bear interest from that date at the rate of 2 i/ 4 percent per annum, payable with the principal at maturity on June 22, 1956. They will not be subject to call for redemption prior to maturity. 2. The income derived from the certificates is subject to all taxes imposed under the Internal Revenue Code of 1954. The certificates are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the pos sessions of the United States, or by any local tax ing authority. 3. The certificates will be acceptable to secure deposits of public moneys. They will be accepted at par plus accrued interest to maturity in payment of income and profits taxes due on June 15, 1956. 4. Bearer certificates will be issued in denomina tions 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 of the Treasury Department, now or hereafter prescribed, governing United States certificates. f f ic e of th e S ecretary , Washington, October 3, 1955. exceeding one-half of the combined capital, surplus and undivided profits, of the subscribing bank. Subscriptions from all others must be accompanied by payment of 5 percent of the amount of certifi cates applied for, not subject to withdrawal until after allotment. Following allotment, any portion of the 5 percent payment in excess of 5 percent of the amount of certificates allotted may be released upon the request of the subscribers. 2. Commercial banks in submitting subscriptions will be required to certify that they have no bene ficial interest in any of the subscriptions they enter for the account of their customers, and that their customers have no beneficial interest in the banks’ subscriptions for their own account. 3. The Secretary of the Treasury reserves the right to reject or reduce any subscription, and to allot less than the amount of certificates applied fo r ; and any action he may take in these respects shall be final. Allotment notices will be sent out promptly upon allotment. IV . PAYM ENT 1. Payment at par and accrued interest, if any, for certificates allotted hereunder must be made or completed on or before October 11, 1955, or on later allotment. In every case where payment is not so completed, the payment with application up to 5 percent of the amount of certificates allotted shall, upon declaration made by the Secretary of the Treasury in his discretion, be forfeited to the United States. Any qualified depositary will be permitted to make payment by credit for certifi cates allotted to it for itself and its customers up to any amount for which it shall be qualified in excess of existing deposits, when so notified by the Federal Reserve Bank of its District. V. G E N E R A L PRO VISIO N S 1. As fiscal agents of the United States, Federal III. SU B SC R IPT IO N A N D A L L O T M E N T Reserve Banks are authorized and requested to re 1. Subscriptions will be received at the Federal ceive subscriptions, to make allotments on the basis and up to the amounts indicated by the Secretary Reserve Banks and Branches and at the Office of of the Treasury to the Federal Reserve Banks of the Treasurer o f the United States, Washington. the respective Districts, to issue allotment notices, Commercial banks, which for this purpose are de to receive payment for certificates allotted, to make fined as banks accepting demand deposits, may delivery of certificates on full-paid subscriptions submit subscriptions for account of customers, but allotted, and they may issue interim receipts pend only the Federal Reserve Banks and the Treasury ing delivery of the definitive certificates. Department are authorized to act as official agen cies. Others than commercial banks will not be per 2. The Secretary of the Treasury may at any mitted to enter subscriptions except for their own time, or from time to time, prescribe supplemental account. Subscriptions from commercial banks for or amendatory rules and regulations governing the their own account will be received without deposit, offering, which will be communicated promptly to but will be restricted in each case to an amount not the Federal Reserve Banks. G. M. HUMPHREY, Secretary of the Treasury. CS 10-55 Subscription Number CASH SUBSCRIPTION F or United States o f America 2*4 Percent Treasury Certificates o f Indebtedness o f Series C-1956, Tax Anticipation Series, dated October 11, 1955, due June 22, 1956 Subscription books will be open only on October 3 for the receipt o f subscriptions. Important 1. Subscriptions from commercial banks for their own account will be received without deposit; subscriptions from all others must be accompanied by payment of 5 percent of the amount of certificates applied for. 2. Commercial banks subscribing for account of customers should hold the 5 percent deposits paid to them by their customers (see certification below). 3. Amount o f certificates applied for must be in multiples of $1,000. F ederal R ese rv e B ank of New Y Dated at ork, Fiscal Agent o f the United States, Federal Reserve P. 0 . Station, .1955 N ew Y o rk 45, N . Y . D ear Attention: Securities Department— 9th Floor S ir s : Pursuant to the provisions of Treasury Department Circular No. 968, dated October 3, 1955, the undersigned hereby subscribes for United States of America 2*4 percent Treasury Certificates of Indebtedness of Series C-1956, as follow s: For own a c c o u n t................................................................................................................................... $................................. For our customers, shown on reverse side (for use of commercial banks) ........................ $................................ Total subscription............................................................ $................................. Payment for these securities will be made on or before October 11, 1955. ( I f a com m ercial bank is subscribing fo r its own account or for account o f customers, the follow in g 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 hereof) which is made a part of this subscription; that there has been paid to us by each such customer, not subject to withdrawal until after allotment, 5 percent of the amount applied fo r ; that we have not made unsecured loans, or loans collateralized in whole or in part by the securities applied for, to supply the amounts of such payments to any of such customers; that we have no beneficial interest in the applications of such customers, and that none of our customers has any beneficial interest in the amount subscribed for our own account. W e F u r t h e r C e r t i f y that the subscription for our own account does not exceed one-half of our combined capital, surplus and undivided profits. TO SUBSCRIBER: (F ill in all required spaces before sign ing) Mark (X ) in proper space to indicate if this is: (N am e o f subscriber— Please print o r typewrite) Original subscription.................... □ Confirmation of a telegram.......... □ Confirmation of a letter................ □ B y ................ .................................................... > (O fficial signature) ............. (T itle ) A d d ress......................................................................... (Spaces below are for the use o f the Federal Reserve Bank) Blotter............. ALLOTMENT Examined....... Acknowledged. Figured Carded............. Checked Advised (F or use of commercial bank subscribers only) List o f customers included in this subscription (Please print or typewrite) Leave blank Name o f Customer Address Amount Subscribed FEDERAL RESERVE BANK OF NEW YORK S E C -A T S -I .C -S _ _ S E C U R IT IE S D E P A R T M E N T A D V IC E T O S U B S C R IB E R To Subscription No. Date Your cash subscription for $ United States o f America 2V4 Percent Treasury Certificates o f Indebtedness o f Series C-1956, Tax Anticipation Series, Dated October 11, 1955, Due June 22, 1956 has been received by this Bank, as fiscal agent of the United States, and, pursuant to Treasury Department Circular No. 968, which offers the above-mentioned obligations of the United States, allotment notices will be sent out promptly upon allotment and allotments will be made on the basis and up to the amounts indicated by the Secretary of 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 by FED ERAL RESERVE BANK O F NEW YORK S E C —A T S —2 . C - S S E C U R IT IE S D E P A R T M E N T CARD RECORD f* To Subscription No. Date Cash subscription received from above subscriber for $ United States o f America 2 1/4 Percent Treasury Certificates o f Indebtedness o f Series C -1956, T ax Anticipation Series, Dated O ctober 11, 1955, Due June 22, 1956 FED ERAL RESERVE BANK O F N EW YORK To S E C —A T S —3 . C - 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 F IL E S C O P Y Subscription No. Date 1 i I 'ft Cash subscription received from above subscriber for $ United States o f America 2 % Percent Treasury Certificates o f Indebtedness o f Series C -1956, Tax Anticipation Series, Dated O ctober 11, 1955, Due June 22, 1956
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