The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF NEW YORK F is ca l A g e n t o f th e U n ite d S tates r C ircu lar L 5 1 0 2 ~1 No. N o v e m b e r 2 , 1961 J OFFERING OF $800,000,000 STRIP OF WEEKLY TREASURY BILLS To A ll Incorporated B anks and Trust Companies, and Others Concerned, in the Second Federal B eserve D istrict: F o l lo w in g is th e te x t o f a p u b lic n o tic e is s u e d b y the T r e a s u r y D e p a r tm e n t, r e le a s e d f o r p u b lic a tio n t o d a y : The Treasury Department, by this public notice, invites tenders fo r additional amounts o f eight series of Treasury bills to an aggregate amount o f $800,000,000, or thereabouts, fo r cash. The additional bills will be issued November 15, 1961, will be in the amounts, and will be in addition to the bills originally issued and maturing, as follow s: Am ount o f additional issue $100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 Original issue dates 1961 June June June June July July July July 8 15 23 29 6 13 20 27 M aturity dates Days from Nov. 15,1961 to maturity December 7, 1961 December 14, 1961 December 21, 1961 December 28, 1961 January 4, 1962 January 11, 1962 January 18, 1962 January 25, 1962 22 29 36 43 50 57 64 71 Am ount outstanding (in m illions) N ov. 2,1961 $1,609 1,601 1,601 1,600 1,600 1,601 1,600 1,601 $800,000,000 The additional and original bills will be freely interchangeable. Each tender submitted must be in the amount o f $ 8,000, or an even multiple thereof, and the amount tendered will be applied to each o f the above series o f bills on the basis o f the ratio o f each series to the total o f all series. (F o r example, an accepted tender fo r $40,000 will be applied $5,000 to the issue with original date o f June 8, 1961, and $5,000 to each o f the additional weekly issues through the issue with original date o f July 27, 1961.) The bills offered hereunder w ill be issued on a discount basis under competitive and noncompeti tive bidding as hereinafter provided, and at m aturity their face amount will be payable without inter est. They will be issued in bearer form only, and in denominations o f $1,000, $5,000, $10,000, $100,000, $500,000 and $1,000,000 (m aturity value). Tenders will be received at Federal Reserve Banks and Branches up to the closing hour, onethirty o ’clock p.m., Eastern Standard time, Novem ber 9, 1961. Tenders will not be received at the Treasury Department, W ashington. In the case o f competitive tenders the price offered must be expressed on the basis o f 100, with not more than three decimals, e.g., 99.925. Fractions may not be used. A single price must be submitted fo r each unit o f $8,000, or even multiple thereof. A unit represents $1,000 face amount o f each issue of bills offered hereunder, as previously described. It is urged that tenders be made on the printed form s and forw arded in the special envelopes which will be supplied by Federal Reserve Banks and Branches on application therefor. ( over) Others than banking institutions w ill not be perm itted to submit tenders except fo r their own account. Tenders will be received without deposit from incorporated banks and trust companies and from responsible and recognized dealers in investment securities. Tenders from others must be accom panied b y paym ent o f 2 percent o f the face am ount o f Treasury bills applied fo r, unless the tenders are accom panied by an express guaranty o f paym ent by an incorporated bank or trust company. Imm ediately after the closing hour, tenders w ill be opened at the Federal Reserve Banks and Branches, follow in g which public announcement w ill be made by the Treasury Department o f the amount and price range o f accepted bids. Those submitting tenders will be advised o f the accept ance or rejection thereof. The Secretary o f the Treasury expressly reserves the right to accept or reject any or all tenders, in whole or in part, and his action in any such respect shall be final. Noncompetitive tenders fo r $80,000 or less (in even multiples o f $8,000) without stated price from any one bidder will be accepted in fu ll at the average price (in three decimals) o f accepted com petitive bids, provided, however, that if the total o f noncom petitive tenders exceeds $400,000,000, the Secre tary o f the Treasury reserves the right to allot less than the amount applied fo r on a straight per centage basis with adjustments where necessary to the next higher m ultiple o f $8,000. Settlement fo r accepted tenders in accordance with the bids must be made or completed at the Federal Reserve Bank in cash or other immediately available fun ds on November 15, 1961. The income derived from Treasury bills, whether interest or gain from the sale or other disposi tion o f the bills, does not have any exemption, as such, and loss from the sale or other disposition o f Treasury bills does not have any special treatment, as such, under the Internal Revenue Code o f 1954. The bills are subject to estate, inheritance, g ift or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof b y any State, or any o f the possessions o f the United States, or by any local taxing authority. F o r purposes o f taxation the amount o f discount at which Treasury bills are originally sold b y the U nited States is considered to be interest. Under Sections 4 5 4 (b ) and 1221(5) of the Internal Revenue Code of 1954 the amount o f discount at which bills issued hereunder are sold is not considered to accrue until such bills are sold, redeemed or otherwise disposed of, and such bills are excluded from consid eration as capital assets. A ccordingly, the owner o f Treasury bills (other than life insurance com panies) issued hereunder need include in his income tax return only the difference between the price paid fo r such bills, whether on original issue or on subsequent purchase, and the amount actually received either upon sale or redemption at m aturity during the taxable year fo r which the return is made, as ordinary gain or loss. Treasury Department Circular No. 418, Revised, and this notice, prescribe the terms o f the Treasury bills and govern the conditions o f their issue. Copies o f the circular m ay be obtained from any Federal Reserve Bank or Branch. Incident to the offering of a strip of Treasury bills that were issued on June 14, 1961, the Internal Revenue Service stated that, for tax purposes, purchasers of the strip of Treas ury bills then offered should carry such bills on their books on the basis of their purchase price prorated to each of the several outstanding issues, using as a basis for proration the closing market prices on the issue date of the strip. For further information, refer to our Circular No. 5045, dated June 6, 1961, copies of which will be furnished upon request. This Bank will receive tenders up to 1 :30 p.m., Eastern Standard time, Thursday, Novem ber 9, 1961, at the Securities Department of its Head Office and at its Buffalo Branch. Please use the enclosed tender form to submit a tender, and return it in the enclosed pink envelope marked “ Tender for Strip of Weekly Treasury Bills.,, Tenders may be submitted by tele graph, subject to written confirmation; they may not be submitted by telephone. Settlement for accepted tenders must be made in cash or other immediately available funds. A lfred H ayes, President. TENDER FOR STRIP OF 8 SERIES OF TREASURY BILLS TO BE ISSUED NOVEMBER 15, 1961 MATURING WEEKLY FROM DECEMBER 7, 1961 TO JANUARY 25, 1962 (Additional Amounts of Outstanding Series Dated Weekly From June 8, 1961 to July 27, 1961) To F ed eral R eserve B a n k of N ew Dated at ........................................... Y ork, Fiscal Agent of the United States. 1961 Pursuant to the provisions of Treasury Department Circular No. 418, Revised, and to the provisions of the public notice issued by the Treasury Department and printed in your Circular No. 5102, dated Novem ber 2, 1961, the undersigned hereby offers to purchase the Treasury bills described in said public notice in the aggregate amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date at the price indicated below: COM PETITIVE TENDER (In multiples of $8,000) [ NONCOMPETITIVE TENDER ( I n multiples of $ 8 ,0 0 0 ) D o not fill in both Competitive and Noncompetitive tenders on one form $ .......................................................... (maturity value), or any lesser amount that may be awarded. Price: ................................... per 100. (P rice must be expressed with not more than three decimal places, for example, 99.925) $ ..................................................... (maturity value). (N ot to cxceed $80,000 for one bidder through all sources) at the average price of accepted competitive bids. Please issue and make delivery of the bills as instructed below: ( I n d i c a t e h e re o n ly th e d e n o m in a tio n s f o r a s in g le se rie s p ro v id e d th e sa m e d e n o m in a tio n s are d e sir e d fo r all se r ie s . O th e r w is e , use re v e r se s id e .) $ 1 ,0 0 0 $ 5 ,0 0 0 $ 1 0 ,0 0 0 $ 1 0 0 ,0 0 0 $ 5 0 0 ,0 0 0 $ 1 ,0 0 0 ,0 0 0 Pieces □ □ □ □ □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. Hold in safekeeping (for account of member bank only) 4. Allotment transfer (see list attached) 5. Special instructions: (No changes in delivery instructions will be accepted) Payment will be made as follows: □ By charge to our reserve account Q By cash or other immediately available funds (Payment cannot be made through Treasury Tax and Loan Account) T h e u n d e r sig n e d ( i f a b a n k or tru st c o m p a n y ) h e r e b y ce rtifies th a t the T re a s u r y b ills w h ich yo u are h e re b y in stru c te d to d isp o se o f in th e m a n n e r in d ic a te d in item n u m b e r e d 3 a b o v e a r e o w n e d so le ly b y the u n d e r s ig n e d . T en der subm itted by Insert this tender in pink envelope marked “ Tender for Strip o f W eekly Treasury Bills” B y ................................... T itle .............................. Address (Please print) ....................... B y ----- ------(Official signature(s) required) T itle. ........................................................................................................................ (B a n k s subm itting tenders for custom er accou nt must indicate name on line below , or attach a list) (Name of customer) IN S T R U C T IO N S : 1. Tenders must be submitted in units o f $8,000 or multiples thereof. A unit represents $1,000 face amount of each series o f bills offered hereunder. A single price must be submitted for each unit of $8,000 or multiple thereof. A m oun ts issued on accepted tenders w ill be applied equally to each of the 8 separate series included in the offering. 2. O thers than banking institutions w ill not be perm itted to submit tenders except for their ow n account. Banks subm itting tenders for cu stom er accou nt m ay consolidate com petitive tenders at the same price and may consolidate n oncom petitive tenders, provided a list is attached show in g the name o f each bidder, the amount bid for his account, and m ethod o f paym ent. F orm s for this purpose w ill be furnished on request. 3. If the person m aking the tender is a corporation, the tender should be signed by an officer o f the corporation authorized to make the tender, and the signing o f the tender by an officer of the corporation will be construed as a representation by him that he has been so authorized. I f the tender is made b y a partnership, it should be signed by a m em ber o f the firm, w h o should sign in the form “ .............................................................................................. . a copartnership, by .................................................................................................................. a m em ber o f the firm.” 4. T en ders w ill be received without deposit from in corporated banks and trust com panies and from respon sible and recogn ized dealers in investm ent securities. T en ders from others must be accom panied by paym ent o f 2 percent o f the face am ount o f Treasury bills applied for, unless the tenders are accom panied by an express guaranty o f paym ent b y an incorporated bank or trust com pany. 5. I f the language o f this tender is changed in any respect, which, in the opinion o f the Secretary o f the Treasury, is material, the tender m ay be disregarded. Issue $ 1,000 June 8-Dec. 7 June 15-Dec*. 14 June 23-Dec. 21 June 29-Dec. 28 July 6-Jan. 4 July 13-Jan. 11 July 20-Jan. 18 July 27-Jan. 25 I $5,000 $ 10,000 $ 100,000 $500,000 $ 1,000,000 F ederal R eserve B ank of New Y 1 ork NOTICE OF ALLOTM ENT OF U N ITED STATES OF A M E R IC A T R E A SU R Y BILLS November 10, 1961. Y ou r □ A competitive Q noncompetitive tender fo r— S T R IP OF U N IT E D M A T U R IN G STATES OF W EEKLY A M E R IC A FROM TREASURY DECEM BER 7, B IL L S 1961 TO BE THROUGH has been accepted at the price o f IS S U E D N O V E M B E R JANUARY 25, 15, 1961, 1962 (per 100), in the amount o f— $ (m aturity value) Settlement therefor must be made in cash or other immediately available funds at the Federal Reserve Bank of New Y ork on or before November 15, 1961. I f settlement is to be made by check on a bank other than the Federal Reserve Bank o f New York, such check should be received by us in time fo r collection on N ovem ber 15, 1961, otherwise it w ill 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. D elivery of the Treasury bills will be made in accordance with instructions submitted with your tender, and your reserve account w ill be charged on November 15, 1961 if you so indicated. I f you did not submit such instructions, a Letter o f Instructions form is enclosed; please complete the letter in triplicate and return it prom ptly to this Bank. F ederal R eserve B a n k of N e w Y ork Fiscal A gent of the United States Checked by (This letter of instructions, accompanied by attached duplicate and triplicate copies, should be filled in and returned to Federal Reserve Bank of New York) LETTER OF INSTRUCTIONS To F e d e ra l R eserve B an k o f N ew Y ork , Fiscal A gent of the United States, Federal Reserve P. 0 . Station, New Y ork 45, N. Y . A ttention: Government Bond Division-—2nd F loor Dated a t .............. .1961 On our □ A competitive □ S T R IP OF noncompetitive tender fo r— U N IT E D STATES M A T U R IN G OF W EEKLY A M E R IC A FROM TREASURY DECEM BER 7, B IL L S 1961 TO BE IS S U E D N O V E M B E R THROUGH JANUARY 25, 15, 1961, 1962 (per 100), in the amount of- which has been accepted at the price o f ( m aturity value) $ Please issue and make delivery of the bills as instructed b e lo w : (In d ic a te h ere o n ly th e d e n o m in a tio n s fo r a s in g le se rie s, p r o v id e d th e sam e d e n o m in a t io n s are d e s ir e d fo r a ll s e r ie s . O t h e r w i s e , u s e r e v e r s e s i d e .) $ 1 ,0 0 0 $ 5 ,0 0 0 $ 1 0 0 ,0 0 0 $ 1 0 ,0 0 0 $ 5 0 0 ,0 0 0 $ 1 ,0 0 0 ,0 0 0 Pieces □ □ □ □ □ 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 only) 4. Allotm ent transfer (see list attached) 5. Special instructions: (No changes in delivery instructions will be accepted) Payment will be made as fo llo w s : □ □ B y charge to our reserve account B y cash or other immediately available funds (Payment cannot be made through Treasury Tax and Loan Account) T h e u n d e r s ig n e d ( i f a b a n k or tr u s t c o m p a n y ) h e r e b y c e r tifie 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 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 it e m n u m b e r e d 3 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 Federal Reserve Bank of New York, Submitted by to (Please print) By By (A uthorized signature(s) required) Title .............................................................................. Title .................. F isca l A gen t o f the United States. A d d r e s s ........................................................................................................... ( S p a c e s b e lo w a r e f o r th e u s e o f th e 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 D ivision Government Bond Division Payment received.................. Checked. . D eliver against paym ent o f $. D elivered. D E L IV E R Y R E C E IP T R eceived from Federal Reserve Bank o f New Y ork, F isca l A gen t o f the United States, the above described securities allotted in the amount indicated above. Date Subscriber By Is s u e June 8-Dec. 7 June 15-Dec. 14 June 23-Dec. 21 June 29-Dec. 28 July 6-Jan. 4 J u ly 13-Jan. 11 July 20-Jan. 18 July 27-Jan. 25 $ 1 ,0 0 0 $ 5 ,0 0 0 $ 1 0 ,0 0 0 $ 1 0 0 ,0 0 0 $ 5 0 0 ,0 0 0 $ 1 ,0 0 0 ,0 0 0 (D U P L I C A T E F O R U S E O F F E D E R A L R ESER V E B AN K OF N E W Y O R K ) LETTER OF INSTRUCTIONS To F ederal R eserve B a n k N of e w Y ork , Fiscal A gent of the United States, Federal Reserve P. 0 . Station, New Y ork 45, N. Y . A ttention: Government Bond Division— 2nd Floor Dated a t .............. .1961 On our □ A competitive □ S T R IP OF noncompetitive tender fo r— U N IT E D STATES M A T U R IN G OF W EEKLY A M E R IC A FROM TREASURY DECEM BER 7, B IL L S 1961 TO BE IS S U E D THROUGH which has been accepted at the price of NOVEMBER JANUARY 25, 15, 1961, 1962 (per 100), in the amount of( maturity value) Please issue and make delivery o f the bills as instructed b e lo w : (In d ic a te h ere o n ly th e d e n o m in a tio n s fo r a s in g le s e r ie s , p r o v id e d th e sam e d e n o m in a tio n s are d e s ir e d fo r a ll s e r ie s . O t h e r w is e , u s e r e v e r s e s i d e .) $ 5 ,0 0 0 $ 1 ,0 0 0 $ 1 0 ,0 0 0 $ 1 0 0 ,0 0 0 $ 5 0 0 ,0 0 0 $ 1 ,0 0 0 ,0 0 0 Pieces □ □ □ □ □ 1. Deliver over the counter to the undersigned 2. Ship to the undersigned 3. H old in safekeeping (fo r account of member bank only) 4. Allotm ent transfer (see list attached) 5. Special instructions: (No changes in delivery instructions will be accepted) Payment will be made as fo llo w s : □ □ B y charge to our reserve account B y cash or other immediately available funds (Payment cannot be made through Treasury Tax and Loan Account) 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 r tifie s th a t th e T r e a s u r y b ills w h ic h y o u 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 it e m n u m b e r e d 3 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 p rov id ed and returned im m ediately to Submitted by Federal Reserve Bank of New York, Title .............. are hereb y in s tr u c te d to (Please print) ............. ...................... , By ..................... (A uthorized signature(s) required) ...................... Title .................. F iscal A gen t o f the United States. Address . . . . ( S p a c e s b e io w a re f o r th e u s e o f th e 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 Paym ent received ...................................................................................................................................................... Deliver against payment o f $ . . ............................................................................ D E L IV E R Y R E C E IP T Received from Federal Reserve Bank o f New York, Fiscal A gen t o f the United States, the above described securities allotted in the amount indicated above. Date Subscriber By ■‘flgSK (T R I P L I C A T E F O R U S E O F F E D E R A L RESER V E BAN K OF N EW Y O R K ) LETTER OF INSTRUCTIONS To F e d e r a l R e s e r v e B a n k o f N e w Y Fiscal A gent o f the United States, Federal Reserve P. O. Station, New Y ork 45, N. Y . ork, A ttention: Government B ond Division— 2nd F loor T £>i h i U Dated a t .............. .1961 On our □ A competitive □ S T R IP OF noncompetitive tender fo r— U N IT E D STATES M A T U R IN G OF W EEKLY A M E R IC A FROM TREASURY DECEM BER 7, B IL L S 1961 TO BE IS S U E D N O V E M B E R THROUGH which has been accepted at the price o f JANUARY 25, 15, 1961, 1962 (p er 100), in the amount of- _p'p ( m aturity value) $ 1,-0 yfr;T. Please issue and make delivery o f the bills as instructed b e lo w : (In d ic a te here o n ly th e d e n o m in a tio n s fo r a s in g le se r ie s, p r o v id e d th e sam e d e n o m in a tio n s are d e s ir e d fo r a ll s e r ie s . O t h e r w i s e , u s e r e v e r s e s i d e .) $1,000 $10,000 $ 5 ,0 0 0 $100,000 ji, $1,000,000 $ 5 0 0 ,0 0 0 hr vixit Pieces □ □ □ □ □ 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 only) 4. Allotm ent transfer (see list attached) 5. Special instructions: (N o changes in delivery instructions will be accepted ) Paym ent will be made as fo llo w s : □ □ B y charge to our reserve account B y cash or other immediately available funds (P aym en t cannot be made through Treasury Tax and Loan A ccou n t) 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 r tifie s th a t th e T r e a s u r y b ills w h ic h y o u 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 it e m n u m b e r e d 3 a b o v e a r e o w n e d s o l e l y 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 Federal Reserve Bank of New York, a r e h e r e b y in s tr u c te d to Submitted by (Please print) ................ , By ................. By ............. (A uthorized signature(s) required) Title .............. ....................... Title ................ F iscal A gen t o f the United States. Address ( S p a c e s b e lo w a r e f o r th e u s e o f th e 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 Paym ent received ...................................................................................................................................................... Deliver against paym ent o f $.. . ............................................................................ D E L IV E R Y R E C E IP T Received from Federal Reserve Bank o f New York, F iscal A gen t o f the United States, the above described securities allotted in the amount indicated above. Date Subscriber By $1,000 Issue June 8-Dec. 7 June 15-Dec. 14 June 23-Dec. 21 June 29-Dec. 28 July 6-Jan. 4 Us 1C July 13-Jan. 11 ouo.ooo July 20-Jan. 18 July 27-Jan. 25 I $ 5 ,0 0 0 $10,000 $ 100,000 $ 5 0 0 ,0 0 0 $1,000 ,00 ( 5 P E N D IN G D E L IV E R Y T I C K E T F O R G O V E R N M E N T B O N D D IV IS IO N Y ou r □ A competitive □ S T R IP OF noncompetitive tender fo r— U N IT E D M A T U R IN G STATES OF W EEKLY A M E R IC A FROM TREASURY DECEM BER 7, B IL L S 1961 TO BE THROUGH IS S U E D N O V E M B E R JANUARY 25, 15, 1961, 1962 price o f Issu e A m ount 6 / 8 — 1 2 /7 M ETHOD PURCH ASE P R IC E OF PAYM ENT C h eck or C ash 6 /1 5 — 1 2 /1 4 R eserve A cco u n t 6 /2 3 — 1 2 /2 1 6 /2 9 — 1 2 /2 8 T reas. T . & L. A c c . M ASTER 7 /6 — 1 /4 D e li v e r y T e l l e r 7 / 1 3 — 1 /1 1 M A T U R IT Y VALUE F o r e ig n O p e r . D iv . 7 /2 0 — 1 /1 8 7 /2 7 — 1 /2 5 PURCH ASE F orm 1 2 P R IC E TOTAL D I S P O S I T I O N Over the Counter Safekeeping Treasury Tax & Loan Ship Allotment Transfer AMOUNT ■'* ■ : ALLOTMENT NOTICE FOR SECURITIES DEPARTMENT □ A competitive □ S T R IP OF U N IT E D M A T U R IN G 6 noncompetitive STATES OF W EEKLY A M E R IC A FROM price o f $ TREASURY DECEM BER 7, B IL L S 1961 TO BE THROUGH IS S U E D NOVEM BER JANUARY 25, 1962 15, 1961, 7 A L L O T M E N T N O T IC E F O R S E C U R IT Y F ILES □ A competitive □ S T R IP OF U N IT E D M A T U R IN G noncompetitive STATES OF W EEKLY A M E R IC A FROM price o f $ TREASURY DECEM BER 7, B IL L S 1961 TO BE THROUGH IS S U E D N O V E M B E R JANUARY 25, 1962 15, 1961, Federal Reserve Bank of New York Securities Department (9th Floor) 33 Liberty Street TENDER FOR STRIP OF WEEKLY TREASU RY BILLS (D O N O T U SE T H IS E N V E L O P E F O R O T H E R P U R P O SE S) ^ in c w York 45 N Y 1•
@FedFRASER