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FE D E RA L R E SE R V E BANK OF NEW YORK Fiscal A g e n t o f the U nited States r Circular No. 4 6 5 7 1 U November 3, 1958 J M ATURED AND M A T U R IN G S E R IE S F A N D G S A V IN G S B O N D S E f f e c t i v e D e c e m b e r 1 , A l l H o l d e r s E x c e p t C o m m e r c i a l B a n k s M a y R e in v e s t P r o c e e d s i n S e r ie s E o r H B o n d s W i t h o u t L i m i t a t i o n To A ll Qualified Issuing and P ayin g A g en ts o f Savings Bonds, and Others Concerned, in th e Second Federal R eserve D istrict: The following statement was made public today: T h e S e c r e t a r y o f t h e T r e a s u r y t o d a y a n n o u n c e d t h a t e f f e c t iv e D e c e m b e r 1, 1 9 5 8 , th e p r i v i l e g e o f a p p l y i n g t h e p r o c e e d s o f S e r ie s F a n d G s a v in g s b o n d s , a t o r a f t e r m a t u r i t y , to t h e p u r c h a s e o f S e r ie s E o r H b o n d s w i t h o u t r e g a r d t o t h e a n n u a l l i m i t a t i o n o f $ 1 0 ,0 0 0 ( m a t u r i t y v a l u e ) f o r e a c h s e r ie s w i l l b e e x t e n d e d t o a l l h o l d e r s o f o u t s t a n d i n g S e r i e s F a n d G b o n d s , e x c e p t c o m m e r c ia l b a n k s . U n d e r t h is p r i v i l e g e a ll h o ld e r s o f S e r ie s F a n d G b o n d s , e x c e p t c o m m e r c i a l b a n k s , c a n p u r c h a s e S e r ie s E o r H b o n d s o r a c o m b i n a t i o n o f b o t h u p t o s u c h d e n o m in a t io n a l a m o u n t s a s t h e p r o c e e d s o f t h e i r m a t u r e d b o n d s w i l l f u l l y c o v e r , u n t i l f u r t h e r n o t ic e . a c c o m p lis h e d by p r e s e n tin g th e S e r ie s F T h is c a n be a n d G b o n d s to a n y F e d e ra l R eserv e B a n k o r B ran ch . S e r ie s E o r H b o n d s s o p u r c h a s e d w i l l b e d a t e d a s o f t h e f ir s t d a y o f t h e m o n t h in w h i c h th e m a t u r e d S e r ie s F o r G b o n d s a r e p r e s e n t e d f o r p a y m e n t . I n o r d e r t o p r e s e r v e th e c o n t i n u i t y o f t h e i r in v e s t m e n t , h o ld e r s o f t h e m a t u r i n g b o n d s a r e u r g e d t o p r e s e n t t h e m f o r r e i n v e s t m e n t o f t h e p r o c e e d s d u r i n g th e m o n t h in w h i c h t h e y m a t u r e . T h is r e in v e s t m e n t p r i v i l e g e h a s b e e n a f f o r d e d s in c e S e p t e m b e r 1, 1 9 5 8 , o n l y t o i n d i v i d u a l s a n d p e r s o n a l t r u s t e s t a t e s a n d h a s a p p l i e d o n l y t o S e r ie s F a n d G b o n d s m a t u r i n g o n a n d a ft e r th a t d a te. p r e v io u s ly in v e s t o r s , p re se n te d in c lu d in g , T h e n e w e x t e n s io n a p p l i e s t o a ll m a t u r e d S e r ie s F a n d G b o n d s n o t fo r r e d e m p t io n , am ong o th ers, and exten d s a ll tr u s t th e e s ta t e s p r iv ile g e (in c lu d in g to a la r g e r p e n s io n and grou p of r e t ir e m e n t t r u s t s ) , g u a r d i a n s h i p a n d s im il a r e s ta t e s , p a r t n e r s h i p s , p u b l i c a n d p r i v a t e c o r p o r a t i o n s , a n d u n i n c o r p o r a t e d a s s o c ia t io n s . T h is f u r t h e r c h a n g e in th e s a v in g s b o n d p r o g r a m h a s b e e n m a d e s o t h a t a l l lo n g -t im e o w n e r s o f S e r ie s F and G bon d s can k eep t h e i r s a v in g s bond h o ld in g s in ta c t th ro u g h r e in v e s t m e n t , a n d a d d t o t h e m t h r o u g h n e w p u r c h a s e s u n d e r t h e c u r r e n t a n n u a l l im it a t io n . Additional copies of this circular will be furnished upon request. A lfred H ayes, President.
@FedFRASER