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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 5 0 8 7 1 L September 21, 1961 J RESULTS OF CURRENT TREASURY OFFERINGS — Advance Refunding of 2^4 Percent Treasury Bonds — 268-Day Tax Anticipation Bills To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statements were made public today by the Treasury Department: TREASURY’ LATEST REFUNDING A SUCCESS S Acting Secretary o the Treasury Henry H. Fowler today announced that holders o f f one- a f of the outstanding publicly held 2 percent bonds included in the Department’ hl s l t s advance refunding operation have exchanged t e r holdings for 3 percent bonds. aet hi Subscription books fo the o f r n were open from September 11 t 1 , but su r feig o 5 bscriptions from individuals were a s accepted through September 20. lo “The Treasury i very pleased with the s c e s o the advance refunding,” Acting s ucs f Secretary Fowler s i . “I represents the accomplishment o a s g i i a t amount o debt ad t f infcn f e t n i n without disturbance in the market for outstanding i s e , and thus achieves xeso, sus su s a t a improvement in the maturity structure o t public debt.” btnil f he Preliminary rep orts from the Federal Reserve Banks l s night show that s b c iption at usr s o about $3,691 mill o have been received t the three i s e o outstanding 3 percent f in o sus f long-term Treasury bonds included i th current o f r n t holders of the two i s e o 2 n e feig o sus f percent Treasury Bonds of March 1 , 196 5 5-70, and March 1 , 196 - 1 These s b c i t o s 5 67. usrpin, which include $2,761 mill o from public holders and $930 mill o from Government Invest in in ment Accounts, w l be a l t e in f l . il lotd ul Delivery of the new bonds w l be made on September 2 , 1 6 . il 9 91 Subscriptions are a f o s ( n m l i n o d l a s : s oll w i i l o s f o l r ) y 2 y 2 y 2 2%bdehg X osxae A n cnd 150 967 314% / 10 9 8 bdmuni osargn n ti 10 9 9 18 9 9 y 2 Ta ol t Public holders .............. $ 567 . Government Investment Accounts. . T o t a l 1965-70 ........... $1,012 . $ 604 445 $ 704 $ 448 10025 $ 473 $ 1,619 570 $2,189 Public holders .............. $ 213 . Government Investment Accounts. . T o t a l 1966-71 ........... $ 248 . ............ . $1,260 . T ota l $ 503 35 $ 564 $1,268 $ 426 61264 $ 690 $1,163 $1, 142 360 $1,502 $3,691 161 967 De a l by Federal Reserve Banks a t subscriptio w l be announced when f n l tis s o ns i l ia reports are r c i e . eevd ( ov e r ) 268-D A Y T A X A N T IC IP A T IO N B IL L S The Treasury Department announced l s evening that t tenders for $ , 0 , 0 , 0 , at he 2500000 o t r hereabouts, of Tax Anticipation S r e 268-day Treasury b l s t be dated September eis il o 2 , 1961, and t mature June 2 , 1 7 o 2 962, which were o f r d on September 12,were opened a fee t the Federal Reserve Banks on September 2 . 0 The d t i s o t i i s e are a follows: eal f hs su s Total applied for.. $5,120,887,000 Total accepted . . $2,500,550,000 ( n ludes $510,598,000 entered on a non .. ic competitive b s s and accepted i f l ai n ul a the average pr c shown below) t ie Range o accepted competitive bids (excepting nine tenders t t l n $1,600,000) : f oaig High ......... 98.042 Low .......... 97. 7 95 Average ....... 97.986 Equivalent r t o discount ae f 2.630% per annum Equivalent r t o discount ae f 2.720% per annum Equivalent r t o discount ae f 2.705% per annum1 approx. approx. approx. ( percent o t e amount bid f r a t e low p i e was accepted) 9 f h o t h rc Feler Dtc er Reeirt da sv si Taaldo olpif t pe r Taaee olcpd t ct Boston .......... ....... New York ................ Philadelphia .............. Cleveland ................ Richmond ................ Atlanta ................. Chicago ................. S . Louis ................ t Minneapolis .............. Kansas City .............. Dallas .................. San Francisco ............. $ 258,105,000 2051600 ,6,2,0 216,000,000 459 95 00 ,8 ,0 118, 500,000 218,658,000 591,779,000 134,854,000 181,265,000 119,200,000 364,070,000 393,43 00 5, 0 $ 138,385,000 737,3 ,0 95 00 131,124,000 20 875,000 5, 7, 0 574,000 135,238,000 411,350,000 70,579,000 118,155,000 93,954,000 265,541,000 122,3 ,0 80 00 Total ............... $5,120,887,000 $2,500,550,000 1On a coupon i s e o t e same l n t and f r t e same amount i v s e , t e r t r on t e e bls would su f h egh o h netd h e u n h s il p o i e a y e d o 2 7 p r e t I t r s r t s o bls a e q o e i t r s o bank d s o n , w t t e r t r rvd i l f . 9 e c n . n e e t a e n il r u t d n e m f icut i h h e u n r l t d t t e f c amount o t e bls p y b e a m t r t r t e t a t e amount i v s e , and t e r l n t eae o h a e f h il a a l t a u i y a h r h n h netd hi e g h i a t a number o d y r l t d t a 3 0 d y y a . I c n r s , y e d o criiae, n t s and b n s a e n cul f a s e a e o 6 - a e r n o t a t i l s n etfcts o e , od r c mpu i t r s o i t r s o t e amount i v s e , and rlt t e number o d y r m i i g i an i t r s o ted n e m f n e e t n h netd eae h f as eann n neet payment p r o t t e a t a number o d y i t e p r o , w t s m a n a compounding i more t a o e e i d o h cul f a s n h eid i h e i n u l f hn n c u o p r o i ivle. o p n e i d s novd A lfred H ayes, President. A t5 0 8 7 Federal R eserve Ba n k o f N ew Yo r k N E W YORK 45, N.Y. R E C T O R 2-5700 (b5) September 25, 1961 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 alert all banks in this District that counterfeit $10 notes on the Federal Reserve Bank of New York of the 1950 series are now appearing in this District. Your tellers and customers should be warned to be on the alert for the appearance of similar counterfeits. The Secret Service has supplied the following description of these counterfeits: $10 Denomination Series 1950 Check Letter Face Plate 3, 28, or 328 E or I Back Plate 16 or 1639 32 The serial number varies. The note is fairly deceptive. However, the picture of Hamilton is smudgy and a white spot appears on the forehead. No attempt has been made to simulate the red and blue fibers. The reverse of the note is printed in a green darker than the authentic note and the picture of the Treasury building is also smudgy. 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 J , N. Y.; in the United States Court House, Buffalo 1, N. Y.; in the Post Office Building, Syracuse, N. Y.; and in the Post Office Building, Federal Square, Newark 2, N. J. A d d itio n a l c o p ie s o f th is le t te r w ill be fu r n is h e d upon r e q u e s t. ALFRED HAYES, President.
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