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FED ER A L R E SE R V E BANK O F N EW YORK Fiscal Agent of the United States r Circular N o. 4 7 7 0 1 L A ugust 10, 1959 J Offering o f $1,000,000,000 of 216-Day Tax Anticipation Treasury Bills Additional Amount, Series Dated July 8, 1959, Maturing March 22, 1960 (T o B e Issued August 19, 1959) T o A ll Incorporated Banks and T rust Companies, and Others Concerned, in the Second Federal R eserv e D istrict: Following is the text o f a notice issued by the Treasury Department, released for publication in morning news papers, Monday, August 10, 1959: T h e T re a su ry D ep a rtm en t, b y this p u b lic n otice, invites tenders fo r $1,000,000,000, o r thereabouts, o f 216-day T rea su ry bills (to m atu rity d a te ), to be issued A u g u s t 19, 1959, on a d iscou n t basis u n d er co m p etitive and n on com p etitive b id d in g as h ereinafter provid ed . T h e bills o f this series w ill be designated T a x A n ticip a tio n Series and represen t an addition al a m ou n t o f bills dated Ju ly 8, 1959, to m ature M a rch 22, 1960, origin a lly issued in the a m ou n t o f $3,005,203,000. T h e addition al and origin a l bills w ill be fre e ly in terch angeable. T h e y w ill be a cce p te d at fa ce valu e in paym ent o f in com e and profits taxes due o n M a rch 15, 1960, and to the exten t th ey are n ot presen ted fo r this pu rp o se the fa ce a m ou n t o f these bills will be pa ya b le w ith ou t interest at m aturity. T a x p a y e rs desiring t o a p p ly these bills in paym ent o f M a rch 15, 1960, in com e and p rofits taxes have the privilege o f su rren d erin g th em to any Fed eral R e s e rv e B ank o r B ra n ch or t o the O ffice o f the T rea su rer o f th e U n ite d States, W a sh in g ton , n ot m ore than fifteen days b e fo r e M a rch 15, 1960, and receiv in g receipts th erefor s h o w in g the face a m ou n t o f the bills s o surrendered. T h e se receip ts m a y be su b m itted in lieu o f the bills on or b e fo r e M a rch 15, 1960, to the D istrict D ire cto r o f Internal R e ven u e fo r th e D istrict in w h ich such ta x es are payable. T h e bills w ill be issued in bearer fo r m on ly , and in den om in ation s o f $1,000, $5,000, $10,000, $100,000, $500,000 and $1,000,000 (m a tu rity v a lu e ). a fter on e-th irty o ’c lo c k p.m ., E astern D a y lig h t S a v in g tim e, T h u rsd a y, A u g u s t 13, 1959. Im m ed ia tely after the clo s in g h our, ten ders w ill be open ed at the F ed eral R eserve B anks and B ra n ch es, fo llo w in g w hich p u b lic an n ou n cem en t w ill be m ade b y the T r e a s u ry D epartm en t o f the a m ou n t and price ran ge o f a cce p te d b ids. T h o s e su b m ittin g tenders w ill be advised o f the a ccep ta n ce or rejection th ereof. T h e S ecreta ry o f the T r e a s u ry ex p ressly reserves the righ t to a ccep t o r re je ct a n y or all ten ders, in w h o le o r in part, and his a ction in a n y su ch resp ect shall b e final. S u b je ct to these reservations, n on com p etitiv e tenders fo r $200,000 o r less w ith ou t stated price fr o m a n y on e b id d er w ill b e a ccep te d in full at th e a vera ge p rice (in three decim a ls) o f a ccep ted c o m petitive bids. P a y m en t o f a ccep ted ten ders at the prices o ffe re d m u st be m a d e o r com p le te d at the F ed era l R e serv e B a n k in cash or oth er im m ediately available funds on A u g u s t 19, 1959, provid ed , h ow ev er, any qualified d ep osita ry w ill be perm itted to m ake pa ym en t b y cred it in its T r e a s u ry T a x a n d L oa n A cco u n t fo r T rea su ry bills allotted to it fo r itself a n d its cu s tom ers up to a n y a m ou n t fo r w h ich it shall b e qualified in excess o f e xistin g dep osits w h en s o n otified b y the Federal R eserve B ank o f its D istrict. O th e rs than b a n k in g institutions w ill n ot be perm itted to subm it ten ders e x ce p t fo r their ow n a ccou n t. T en d ers w ill be receiv ed w ith ou t dep osit fr o m in corp ora ted banks and trust com p a n ies and fr o m resp on sib le a n d re co g n iz e d dealers in in vestm ent securities. T e n d ers fr o m o th ers m u st be a c c o m panied b y p a ym en t o f 2 p ercen t o f the fa ce a m ou n t o f T rea su ry bills a pp lied fo r, unless the ten ders are a ccom p a n ied b y an exp ress gu a ra n ty o f p a ym en t b y an in corp ora ted bank or trust com p a n y . T h e in com e derived fr o m T rea su ry bills, w h eth er interest or gain fro m the sale or oth er d isp osition o f the bills, d o e s n ot have a n y exem ption , as such, and loss fr o m th e sale o r oth er d isp osition o f T r e a s u ry bills d oes n ot have a n y sp ecia l treat m ent, as such, under the In tern al R even u e C o d e o f 1954. T h e bills are su b ject to estate, inheritance, g ift o r oth er excise taxes, w hether F ed era l o r State, but are e x e m p t fr o m all taxa tion n o w o r h erea fter im p osed on the prin cip a l o r interest th ereof b y a n y State, o r a n y o f the p ossession s o f th e U n ited States, or b y a n y lo ca l ta x in g authority. F o r pu rp oses o f taxation the a m ou n t o f d iscou n t at w h ich T r e a s u ry bills are o rigin a lly sold b y the U n ited States is con sid ered t o b e interest. U n d er S ection s 4 5 4 (b ) and 1221(5) o f the In tern a l R even u e C o d e o f 1954 the a m ou n t o f d iscou n t at w h ich bills issued hereun der are s o ld is n o t con sid ered to a ccru e u ntil such bills are sold, red eem ed o r oth erw ise d isp osed of, and such bills are exclu d ed fr o m con sid era tion as capital assets. A c c o r d in g ly , the ow n er o f T rea su ry bills (o th e r than life insurance c o m pan ies) issued hereunder need in clu d e in his in co m e ta x return on ly the differen ce betw een the p rice paid fo r such bills, w hether on origin a l issue o r on su b seq u en t purchase, and the a m ou n t actu ally receiv ed either u p on sale o r red em p tion at m aturity d u rin g the taxable year fo r w h ich the return is m ade, as ord in a ry gain o r loss. A ll bidd ers are req u ired to agree n ot to pu rch ase or to sell, o r to m ake a n y agreem en ts w ith resp ect to the pu rch ase or sale o r o th e r d isp osition o f a n y bills o f this a dd ition al issue, until T rea su ry D ep a rtm en t Circular N o . 418, R evised , and this n otice, p rescrib e the term s o f the T rea su ry bills and g o v e rn the con d ition s o f their issue. C op ies o f th e circular m a y be obtain ed fr o m a n y F ed era l R e serv e B a n k o r B ran ch. T e n d e rs w ill b e re ce iv ed at Federal R e serv e B anks and B ra n ch es up t o the clo s in g hour, on e-th irty o ’ c lo ck p.m ., E a s t ern D a y lig h t S a v in g tim e, T h u rsd a y, A u g u st 13, 1959. T en d ers w ill n o t be receiv ed at the T rea su ry D epa rtm en t, W a sh in g ton . E a ch ten der m u st be fo r an even m u ltiple o f $1,000, and in the ca se o f co m p etitive ten ders the p rice offered m u st be exp ressed o n the basis o f 100, w ith n ot m ore than three decim als, e.g., 99.925. F ra ctio n s m a y n o t be used. It is u rg ed that tenders b e m ade o n the printed fo rm s and fo rw a rd e d in the special e n velop es w h ich w ill b e supplied b y F ed era l R eserve Banks o r B ran ches o n a pp lication th erefor. This Bank will receive tenders up to 1 :30 p.m., Eastern Daylight Saving time, Thursday, August 13, 1959, at the Securities Department o f its Head Office and at its Buffalo Branch. Please use the form on the reverse side of this circular to submit a tender, and return it in the enclosed blue envelope marked “ Tender for Treasury Bills— T ax Anticipation Series.” Tenders may be submitted by telegraph, subject to written confirmation; they may not be sub mitted by telephone. Settlement for accepted tenders must be made in cash or other immediately available funds, except that any qualified depositary may make payment by credit in its Treasury T a x and Loan Account for Treasury bills allotted to it for itself and its customers, up to any amount for which it shall be qualified in excess of existing deposits. A lfred H ayes, President. (o v e r ; N o . . . ............................ TEN D ER F O R 216-D A Y T A X A N T IC IP A T IO N T R E A S U R Y BILLS ADDITIONAL AMOUNT, SERIES DATED JULY 8, 1959, MATURING MARCH 22, 1960 (To Be Issued August 19, 1959) To F ederal R eserve B a n k of N e w Y o r k , Fiscal A gent of the United States. Dated at ........................................................ ..............................................................., 1959 Pursuant to the provisions of Treasury Department Circular N o. 418, Revised, and to the provisions of the public notice issued by the Treasury Department and printed on the reverse side o f this tender, the under signed hereby offers to purchase the above described Treasury bills in the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date at the price indicated b elow : COMPETITIVE TENDER f ^ fiU *n both Competitive and "1 [_ Noncompetitive tenders on one form J NONCOMPETITIVE TENDER $ ............................................................ (maturity value), or any lesser amount that may be awarded. $ ............................................................ (maturity value). P r i c e : .....................................per 100. (Price must be expressed with not more than three decimal places, for example, 99.925) A t the average price of accepted competitive bids. (N o t to ex ceed $200,000 fo r one bidder through all sou rces) Subject to allotment, payment for these bills will be made at your Bank on August 19, 1959, by cash or other immediately available funds or (in the case o f a qualified depositary) by credit in Treasury T ax and Loan Account. W e hereby agree not to buy or to sell, or to make any agreements with respect to the purchase or sale or other disposition of any bills of this additional issue, until after one-thirty o’clock p.m., Eastern Daylight Saving time, Thursday, August 13, 1959. Name o f subscriber ................................................................................... Insert this tender in blue envelope marked “ Tender for Treasury Bills — Tax Anticipation Series” _ (Please print) By .................................... ............................................. B y ..................... (O fficial signature(s) required) T i t l e ................................................................................ T itle ..................................... Address ............................................................................................................................. (B a n k s su b m ittin g ten ders f o r cu stom er a cco u n t m u st in dicate nam e on line b e lo w , o r a ttach a list) (N am e o f custom er) (A ddress) ( N o t e . Successful bidders w ill receive a letter o f instructions form with their allotment notice to instruct us as to the disposition o f, and m e th o d o f p a y m en t fo r, the bills a llotted t o th em .) IN S T R U C T IO N S : 1. N o ten der fo r less than $1,000 w ill b e con sid ered , a n d each ten der m u st be fo r an even m u ltiple o f $1,000 (m a tu rity v a lu e ). 2. O th e rs than b a n k in g in stitu tions w ill n o t be perm itted t o subm it ten ders e x ce p t fo r their o w n a ccou n t. Banks su b m ittin g ten ders f o r cu stom er a cco u n t m a y con solid a te com p etitiv e ten ders at the same price and m a y con solid a te n o n co m p e titiv e ten ders, p r o v id e d a lis t is a tta ch ed s h o w in g th e nam e o f each bidd er, the a m ou n t bid fo r his a ccou n t, and m eth od o f pa ym en t. F o r m s fo r this pu rp ose w ill b e furn ished on request. 3. I f the p e r so n m a k in g th e ten der is a corp ora tion , the ten der sh ou ld b e sign ed b y an officer o f the corp o ra tio n authorized t o m ake th e ten der, and th e s ig n in g o f the ten der b y an officer o f the corp o ra tio n w ill be con stru ed as a rep resen tation b y him that he has been s o authorized. I f the ten d er is m ade b y a partnership, it sh ou ld be sig n ed b y a m e m b e r o f the firm , w h o sh ou ld sign in the fo r m “ .................................................................................................... a cop artn ersh ip, b y ................................................................................................................. a m em b er o f th e firm .” 4. T e n d e rs w ill be receiv ed w ith ou t d ep osit fr o m in corp ora ted banks and trust com p a n ies and fr o m re sp o n sible and r e co g n iz e d dealers in in vestm en t securities. T e n d e rs fr o m oth ers m u st b e a ccom p a n ied b y pa ym en t o f 2 p ercen t o f the fa ce a m ou n t o f T rea su ry bills a pplied fo r, u nless the tenders are a cco m p a n ie d b y an exp ress gu a ra n ty o f p a ym en t b y an in corp ora ted bank o r trust com p a n y . 5. I f the language o f this ten der is ch a n ged in a n y respect, w h ich , in the op in ion o f the S ecreta ry o f the T re a su ry , is m aterial, th e ten der m a y b e disregarded. 1 F e d e ra l R e serve B a n k of New Y ork NOTICE OF ALLOTMENT OF UNITED STATES OF AMERICA TREASURY BILLS T A X ANTICIPATION SERIES A u gu st 14, 1959. Y ou r □ com petitive □ U N IT E D noncompetitive tender fo r— STATES O F A M E R IC A A D D IT IO N A L 2 1 6 -D A Y A M O U N T , S E R IE S TREASURY DATED JU LY B IL L S — T A X 8, 1959, DUE A N T IC IP A T IO N M ARCH 22, S E R IE S 1960 ( T o B e Issu ed A u g u st 19, 1 9 5 9 ) has been accepted at the price of (per 100), in the amount of— $ (m aturity value) Settlement therefor must be made in cash or other immediately available funds at the Federal Reserve Bank o f New Y ork on or before A ugust 19, 1959. However, a qualified deposi tary may make settlement by credit to its Treasury Tax and Loan A ccount, provided the advice o f deposit on the enclosed letter o f instructions form is executed and returned immediately. I f settlement is to be made by cheek on a bank other than the Federal Reserve Bank o f New York, such check should be received b y us in tim e fo r collection on A u gu st 19, 1959, otherwise it will be necessary fo r the bidder to pay fo r the securities allotted at the accepted price, plus interest to the date o f collection at the equivalent rate o f discount. On the enclosed letter o f instructions form , please fill in instructions as to paym ent and dis position fo r the total amount o f Treasury bills o f this additional issue awarded to you, and return the letter immediately to ou r Government B ond Division. F e d e r a l R e se r v e B a n k of New Y ork Fiscal A gen t o f the United States. Checked by PENDING DELIVERY TICKET FOR GOVERNMENT BOND DIVISION Y ou r □ com petitive □ U N IT E D 2 noncompetitive tender fo r— STATES O F A M E R IC A A D D IT IO N A L 2 1 6 -D A Y A M O U N T , S E R IE S TREASURY DATED JU LY B IL L S — T A X A N T IC IP A T IO N 8, 1959, D U E M A R C H 22, S E R IE S 1960 ( T o B e Issu ed A u g u s t 1 9 , 1 9 5 9 ) which has been accepted at the price o f (p er 100), in the amount o f— $ (m aturity value) P R IN C IP A L M ASTER M A T U R IT Y VALUE P R IN C IP A L D IS P O S IT IO N S P L IT D IS P O S IT IO N M ETH OD OF PAYM ENT □ Over the Counter f~l Treas. T . & L. Acc. □ Safekeeping □ Reserve Account □ Check or Cash □ Ship □ Delivery Teller □ Treasury Tax & Loan □ Foreign Oper. Div. □ Allotment Transfer □ Form 12 ALLOTMENT NOTICE FOR SECURITIES DEPARTMENT Y ou r □ competitive □ U N IT E D noncompetitive tender fo r— STATES O F A M E R IC A 2 1 6 -D A Y A D D I T I O N A L A M O U N T , S E R IE S TREASU RY DATED JU LY B IL L S — T A X 8, 1959, D U E A N T IC IP A T IO N M ARCH ( T o B e Issu e d A u g u s t 1 9 , 1 9 5 9 ) which has been accepted at the price o f (p er 100), in the amount of— $ (m aturity value) 22, S E R IE S 1960 ALLOTMENT NOTICE FOR SECURITY FILES Y ou r □ competitive □ U N IT E D noncompetitive tender fo r— STATES O F A M E R IC A A D D IT IO N A L 2 1 6 -D A Y A M O U N T , S E R IE S TREASURY DATED JU LY B IL L S — T A X 8, 1959, DU E A N T IC IP A T IO N M ARCH ( T o B e Issu ed A u g u s t 1 9 , 1 9 5 9 ) which has been accepted at the price o f (p er 100), in the amount of— $ (m aturity value) 22, S E R IE S 1960 (This letter of instructions, accompanied by attached duplicate copy, should be filled in for the to ta l a m ou n t of Treasury bills of this additional issue awarded and returned to Federal Reserve Bank of New York) LETTER OF INSTRUCTIONS To F ede ra l R eserve B a n k op N e w Y o r k , Fiscal Agent of the United States, Federal Reserve P. 0 . Station, New York 45, N. Y. Attention: Government Bond Division— 2nd Floor Dated at ....................................................... ................................................................ 1959 On our competitive and noncompetitive tenders for— U N IT E D S T A T E S O F A M E R IC A 2 1 6 -D A Y TREASURY B IL L S — T A X A N T IC IP A T IO N A D D I T I O N A L A M O U N T , S E R IE S D A T E D J U L Y 8 , 1 9 5 9 , D U E M A R C H ( T o B e Is s u e d A u g u s t 1 9 , 1 9 5 9 ) S E R IE S 22, 1960 accepted in the aggregate amount of— $ (maturity value) Please issue and make delivery o f the bills as instructed below: Pieces Denomination $ Maturity Value P lease Do N ot U se T h is S pace 1,000 5,000 10,000 100,000 500,000 1,000,000 Totals— □ 1. Deliver over the counter to the undersigned □ 2. Ship to the undersigned □ 3. Hold in safekeeping (fo r account o f member bank only) □ 4. H old as collateral for Treasury Tax and Loan Account □ 5. Special instructions: Payment will be made as follow s: □ B y charge to our reserve account □ B y cash or other immediately available funds □ B y credit to Treasury Tax and Loan Account on our books as indicated on the attached Advice of Deposit (No changes in delivery instructions will be accepted) T h e u n d e r s ig n e d ( i f a b a n k o r tru st c o m p a n y ) h e r e b y c e rtifie s th a t th e T r e a s u r y b ills w h ic h y o u a r e h e r e b y in s tr u c te d t o d is p o s e o f in th e m a n n e r in d ic a t e d in ite m n u m b e r e d 3 o r 4 a b o v e a r e o w n e d s o le ly b y th e u n d e r s ig n e d . This letter of instructions must be signed officially in the space provided and returned immediately to Submitted b y ............................................................(pieasVpVint)— , By (Authorized signature(s) required) Title ...................................................................... Title ................ Federal Reserve Bank of New York, Fiscal Agent of the United States. A ddress................................................................................................ ( S p a c e s b e lo w a re f o r th e u s e 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 ) Safekeeping Division Government Bond Division DELIVERY RECEIPT Received from Federal Reserve Bank o f New York, Fiscal Agent of the United States, the above described securities allotted in the amount indicated above. Subscriber............................................................................... By. If payment is to be made by credit to Treasury Tax and Loan Account, an advice of the deposit should be [furnished this Bank on the form below. Advice of Deposit in Treasury Tax and Loan Account To Federal Reserve Bank of New York Government Bond Division W e will deposit on August 19, 1959, $ (purchase price) to the credit of the Federal Reserve Bank o f New York, Fiscal Agent of the United States, in the Treasury Tax and Loan Account, to be held subject to withdrawal on demand in payment for $ (maturity value) Treasury bills to ba issued August 19, 1959, as part o f an additional amount of Treasury bills of Tax Anticipation Series, dated July 8, 1959, due March 22, 1960. (Nam e of depositary) Address (C ity and State) (DUPLICATE FOR USE OF FEDERAL RESERVE BANK OF NEW YORK) LETTER OF INSTRUCTIONS To F ederal R eserve B a n k of N Y e w 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 B ond Division— 2nd F loor Dated at ..!...................................................... .* ..........................................................1959 On our com petitive and noncompetitive tenders for— U N IT E D STATES O F A M E R IC A A D D IT IO N A L 2 1 6 -D A Y A M O U N T , S E R IE S TREASURY DATED JU LY B IL L S — T A X 8, 1959, DUE A N T IC IP A T IO N M ARCH 22, S E R IE S 1960 ( T o B e Issu ed A u g u st 19 , 1 9 5 9 ) accepted in the aggregate amount of— • $* (m aturity value) Please issue and make delivery o f the bills as instructed b e lo w : Pieces Denom ination $ M aturity Value P lease Do N ot U se T h is S pace 1,000 5,000 10,000 100,000 500,000 1,000,000 Totals— □ □ □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. H old in safekeeping (fo r account o f member bank on ly) □ 4. H old as collateral fo r Treasury Tax and Loan A ccount □ 5. Special instructions: Payment will be made as fo llo w s : □ B y charge to our reserve account □ B y cash or other immediately available funds □ B y credit to Treasury T ax and Loan A ccou nt on our books as indicated on the attached A dvice o f Deposit (No changes in delivery instructions will be accepted) T h e u n d e r s i g n e d ( i f a b a n k o r t r u s t c o m p a n y ) h e r e b y c e r t ifie s th a t t h e T r e a s u r y b ills w h ic h y o u a r e h e r e b y i n s t r u c t e d t o d is p o s e o f in t h e m a n n e r i n d i c a t e d in it e m n u m b e r e d 3 o r 4 a b o v e a r e o w n e d s o l e l y b y t h e u n d e r s ig n e d . This letter of instructions must be signed officially in the space provided and re turned immediately to Federal Reserve Bank of New York, Fiscal A gent o f the United States. Submitted b y (Please print) By By .................. (A uthorized signature(s) required) T itle ............................................................................... T itle .................. A d d r e s s ..................................................................................................... (S p a c e s b e lo w a re f o r th e u se o f F e d e ra l R e se rv e B a n k o f N ew Y o r k ) Government Bond Division Safekeeping Division Paym ent received ...................................................................................................................................................... Checked............................................................................ D E L IV E R Y R E C E IP T Received from Federal Reserve Bank o f N ew York, F isca l A gen t o f the United States, the above described securities allotted in the amount indicated above. D ate. Subscriber. By. Federal R eserve Ba n k of N ew York N E W Y O R K 45, N.Y. RECTOR 2-5700 (y4 ) August 11, 1959 DECEPTIVE COUNTERFEIT FEDERAL RESERVE NOTES To all Banks in the Second Federal Reserve District: We have been requested by the United States Secret Service to inform you that counterfeit Federal Reserve notes of the 1950 B series in the $10 denomination have appeared in upstate New York areas. Your tellers and cus tomers should be warned to be on the alert for the appearance of similar counterfeits. The United States Secret Service has supplied the following descrip tion of these counterfeits: $10 Denomination Series 1950 B Check Letter M Face Plate Back Plate 332 1643 Made of one sheet of high-grade bond paper, no threads, thickness of genuine note. All counterfeit currency received from any source should be marked for identification and forwarded to the nearest office of the United States Secret Service, rather than to Washington, D. C. In this District, the Secret Service has offices in Room 801, Federal Office Building, 90 Church Street, New York 7 New York; in the United States Court House, Buffalo 1, New York; in the Post Office Building, Syracuse, New York; and in the Post Office Building, Federal Square, Newark 2, New Jersey. , Additional copies of this letter will be furnished upon request. ALFRED HAYES, President.
@FedFRASER