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FEDERAL RESERVE BANK OF NEW YORK Fiscal A gen t o f the U nited States r Circular No. 4 5 1 0 "1 1957 J L September 24, T R E A S U R Y ’S CU RREN T CASH OFFERINGS Amounts o f Subscriptions and Allotments To all Banking Institutions, and Others Concerned, in the Second Federal R eserve D istrict: The follow in g statement was made public tod a y: The Treasury Department today announced the subscription and allotment figures with respect to the current cash offering o f $500 million o f 4 percent Treasury Bonds o f 1969, $1,750 million o f 4 per cent Treasury Notes o f Series B-1962 and $750 million o f 4 percent Treasury Certificates o f Indebted ness o f Series C-1958. The bonds will be dated October 1,1957, and the notes will be dated September 26, 1957. The certificates o f indebtedness are an additional amount o f the issue dated August 1, 1957, with interest adjusted as o f September 26, 1957. Subscriptions and allotments were divided among the several Federal Reserve Districts and the Treasury as follow s: T r e a s u r y B o n d s o f 1969 S e r i e s B-1962 N o t e s Total subscriptions received Total subscriptions allotted T otal subscriptions received Boston .............................. New Y ork ........................ Philadelphia . . . ............... C lev ela n d .......................... Richmond ........................ Atlanta ........................... Chicago ........................... St. L o u i s .......................... ............... Minneapolis Kansas C i t y ----- ............. D a lla s ................. ............. San Francisco . . ............... Treasury ----- ............. Government Invest ment Accounts . . $ 170,566,500 2,217,767,000 139,924,000 253,630,000 116,116,500 137,132,500 535,959,500 107,705,000 79,050,500 104,248,500 239,397,000 545,701,500 387,500 $ 21,383,500 252,841,500 16,774,000 30,746,000 17,606,500 21,457,000 64,314,500 15,343,500 11,899,500 15,474,500 30,802,500 57,935,500 337,500 $ 321,173,000 2,305,150,000 265,656,000 437,052,000 248,625,000 171,543,000 796,678,000 172,633,000 152,642,000 191,497,000 312,040,000 746,137,000 118,000 T otal . ............. $4,647,586,000 Federal Reserve D istrict ----- 100 ,000,000 $656,916,000 Total subscriptions allotted $ 98,584,000 666,954,000 82,263,000 132,438,000 82,664,000 60,227,000 265,313,000 61,626,000 61,689,000 73,856,000 99,313,000 215,464,000 118,000 100 ,000,000 ----$6,120,944,000 $2,000,509,000 S eries C-1958 Certificates Federal R eserve D istrict Boston ................................ New Y o r k ............................ Philadelphia ..................... Cleveland ............................ Richmond ............................ Atlanta .............................. Chicago ................................ St. L o u i s .............................. Minneapolis ....................... Kansas Citv ....................... Dallas ................................ . San Francisco ................. Treasury ........................ Government Invest ment A ccounts . . . T otal ..................... Total subscriptions received Total subscriptions allotted $ 124,744,000 1,069,194,000 173,443,000 187,880,000 119,616,000 166,657,000 486,528,000 104,655,000 97,836,000 124,917,000 173,911.000 237,321,000 125,000 $ 32,696,000 245,529,000 44,790,000 52,178,000 39,848,000 51,796,000 139,193,000 35,918,000 34,711,000 47,916,000 50.151,000 57,721,000 125,000 ----$3,066,827,000 100 ,000,000 $932,572,000 A lfred H ayes, President. /£> Federal R eserve NEW A g e n t of N ew York Y O R K 4 5 . N. Y. RECTOR F i s c a l Ba n k o f 2 -57 00 t h e U n i t e o S t a t e s September 24, 1957 To All Issuing Agents in the Second Federal Reserve District Qualified for Sale of United States Savings Bonds, Series E: On July 8, 1957 we forwarded to you a circular letter setting forth some of the details of the new punch-card form of Series E Savings bond which you will be issuing to the public beginning October 1, 1957, and enclosing a requisition form for your use in ordering a supply of the new punch-card bonds to bear the issue date of October 1, 1957 and thereafter. We have received from the Treasury Department a limited supply of the new punch-card bonds and consequently, are now shipping only limited supplies to issuing agents .from whom we have received requisitions for the new bonds. We shall fill all requisitions completely as quickly as additional stock is received from the Treasury Department. Issuing agents who have not submitted requisitions for an initial stock of the new bonds should do so now; they may not use the paper type stock for issue dates after September 1957In changing over to the use of the new punch-card Series E bond, you should observe the following instructions: 1. Establish a new ledger account for the control of the new punch-card bonds. 2. Do not prepare the punch-card bonds with an issue date earlier than October 1, 1957- 3. Do not prepare paper type bonds with an issue date later than September 1, 1957. 4. After issuing your last paper type bond, close out the account in the following manner: (a) Submit to this Bank Form Sav.B. 1787 entitled "Remittance for and Report of Sales of United States Savings Bonds, Series E", to cover the period from your last such remittance or report to your close-out date. You should submit a form even though you have no remittance, or no sales to report. (b) Submit to this Bank Form Sav.B. 1789, entitled "Transmittal Letter to Accompany Spoiled or Unissued Stock of United States Savings Bonds, Series E" to return all bonds spoiled through your close-out date. (o v er) (c) In returning unissued paper stock to us, submit separate Forms Sav.B. 1789 for the 1952 design and for the 1957 design. The unissued stock should not be disassembled or voided. Reimbursement for postage and registry fees expended in returning to us stubs of bonds sold, spoiled bonds, and unissued stock, will be made in the usual manner, by the submission of a completed draft drawn on this Bank on Form Sav.B.223• Issuing agents who have paid for their bond stock in advance will, upon the return of unused paper type stock or returned spoiled bonds, receive a check in payment. Issuing agents making original deliveries of savings bonds by mail and who have ordered special penalty envelopes for delivery the latter part of 1957 will receive new envelopes of smaller size for use with the punch-card bonds. Deliveries of these envelopes are being made now. Agents who have not ordered the new penalty envelopes and desire to do so should request us to supply them in the usual manner. Special penalty envelopes designed for use with paper bonds should not be used in mailing the new punch-card bonds. They may, however, be used for deliveries over the counter. If you choose not to use the old special penalty envelopes with the new bonds, return them to this Bank if they are not imprinted with your name. If they are so imprinted, please destroy them. The number destroyed should be included in item "C" in your quarterly envelope report. The Registration stubs of the punch-card bonds should be "batched" by monthly issue date, and dispatched to us in groups not exceeding 6,000 stubs in number, or $900,000 (issue price) in amount, and should be accompanied by a new control card (Form FD 2638 ) for each such batch. A supply of such control cards is being sent to you under separate cover. At least one control card should accompany every report of sales (Form Sav,B. 1787 ) of the new punch-card bonds. Additional supplies of the control card will be sent to you with your regular deliveries of punch-card stock. You must not use the paper type stock for savings bonds bearing issue dates after September 1957> or the punch-card stock for savings bonds bearing issue dates prior to October 1957» Very truly yours, F. T.. Davis Assistant Vice President
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