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FEDERAL RESERVE BANK OF NEW YORK Government Bond Department F Circular No. 500 1 ^November 1*» 1922 J Per Cent. Victory Notes Holders to send in Called Victorys before December 15 to avoid delay in Redeeming Interest Computation on Uncalled Registered Notes Redeemed After November 15 To all Banks, Trust Companies, Savings Banks, Bankers, Investment Dealers, Principal Corporations and others concerned in the Second Federal Reserve District: As you are aware, the Treasury has called for redemption on December 15 about one-half of the Victory notes now outstanding. There are many thousands of the called notes in the various denominations in both coupon and registered form, and to avoid congestion and possible delay in making payment on December 15 you are urged to send such notes to us before that time. In this connection you will find in the, folio wing paragraphs some instructions to be followed to facilitate the handling of the redemptions, as well as other information respecting the computation of interest on uncalled registered Victorys offered for redemption while the transfer books are closed from November 15 to December 15. May Be Redeemed in Advance of December 15 The Treasury has directed attention to its offer to redeem before maturity, at the holder's option, at par and accrued interest to the date of optional redemption, any 4% per cent. Victory notes, whether called or uncalled. They may be sent to us now for immediate redemption. Information for Applicants The attached form G.ffjflQ mav be used in making application for redemption. It is important to state explicitly when the redemption is to be made, and registered notes that are surrendered should be duly assigned to "The Secretary of the Treasury for redemption." Notes improperly assigned will be returned to the senders. To receive payment on December 15 of called registered notes, please send them to us not later than December 5, so that there may be sufficient time to forward them to the Treasury for discharge of registration. In presenting and surrendering coupon notes for redemption before December 15, all unmatured coupons must be attached, including the coupons due on December 15; but in sending us notes for redemption on December 15 only the coupons due on May 20, 1923, should be attached, and the December 15 coupons should be clipped and collected in the ordinary way. Attention to these details in the beginning will save much time in handling the redemptions. Interest Computation on Registered Notes Holders of uncalled registered 4% per cent. Victory notes which mature on May 20, 1923, will receive their semiannual interest as usual by check from the Treasury on December 15. The transfer books for this purpose will close at Washington for one month beginning November 15. If a holder of record as of November 15 presents such notes for redemption while the books are closed we will make payment at par less the amount of interest from the date of redemption to December 15, and the Government's check direct from the Treasury for the full six months' interest to December 15 will subsequently adjust the interest payment. This method of computation will affect only registered notes bearing the distinguishing letters G, H, I, J, K or L. It will not affect those registered notes bearing letters A, B, C, D, E or F, which have been called on December 15, as the transfer books for that lot will not close, and principal and interest will be paid simultaneously by the Treasury on that date. Treasury Regulations Victory notes to be redeemed on December 15 are called for redemption upon the terms and conditions and subject to the rules and regulations of Treasury Department Circular No. 299 of July 26, 1922. - (^«-«- «/»rc*w\*r Hi?) Very truly yours, BENJ. STRONG, Governor. Request for Redemption To FEDERAL R E S E R V E BANK OF N E W s YORK, Fiscal Agent of the United States, Government Bond Department. DEAR .192- SIRS: The undersigned presents and surrenders herewith tor redemption as indicated below: (Use separate form for coupon and registered netts) 4t% per cent. Victory Liberty Loan Coupon Notes 4 # per cent. Victory Liberty Loan Registered Notes Please make payment as indicated by the letter " X " in the parenthesis following: (1) By check immediately ( ) (2) By check on December 15 1922 ( ) (3) By credit for the proceeds immediately ( ) (4) By credit for the proceeds on December 15, 1922 ( ) Denomination Pieces Face Amount Numbers $50 100 500 1,000 5,000 10,000 50,000 100,000 Total face amount Interest Bank, trust company, corporation, firm or individual making application. Total ByAddress (The proitsions of Treaury Department Circular So. 299 of July 26, 1922, totem tk* redemption of ctiLtd 4H per cent. Victory NoUt.) These Spaces for use of Federal Reserve Bank Received Checked Interest Checked Examined Window Custody Mail Other Depta.
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