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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
I" Circular N o. 5 3 4 3 1

L

June 7, 1963

J

CASH OFFERING
4 Percent Treasury Bonds of 1970

To All Banking Institutions, and Others Concerned,
in the Second Federal Reserve D istrict:

The subscription books will be open on June 11 for a cash offering, at par, of
4 percent Treasury Bonds of 1970, dated June 20, 1963, maturing August 15, 1970.
The terms of the offering are set forth in Treasury Department Circular No. 12-63,
Public Debt Series, a copy of which is printed on the following pages. Subject to the
conditions set forth in Paragraph 5 of Section III of that circular, subscriptions for
amounts up to and including $100,000 will be allotted in full, and subscriptions for
amounts over $100,000 will be allotted on a percentage basis, but not less than $100,000
on any one subscription.
All subscribers are required to agree not to purchase or to sell, or to make any
agreements with respect to the purchase or sale or other disposition of any bonds of
this issue, until after midnight, June 11, 1963.
A commercial bank submitting a subscription direct to the Federal Reserve Bank
of its District may, if it is a qualified depositary, pay by credit in its Treasury Tax and
Loan Account for bonds allotted on such subscription; however, a commercial bank
submitting a subscription through a correspondent bank may not pay by credit in its Tax
and Loan Account for bonds allotted on the subscription of the correspondent bank.
Subscriptions will be received by this Bank as fiscal agent of the United States.
Subscriptions should be made on official subscription forms, copies of which are enclosed,
and should be mailed immediately. If filed by telegram or letter, subscriptions should
be confirmed immediately by mail on the forms provided. The subscription books will
remain open for one day only, Tuesday, June 11. Any subscription addressed to a Federal
Reserve Bank or Branch or to the Treasury Department and placed in the mail before
midnight, June 11, will be considered timely.




A lfred H ayes,

President.

UNITED STATES OF AMERICA
4 PERCENT TREASURY BONDS OF 1970
Dated and bearing interest from June 20, 1963

Due August 15, 1970

Interest payable February 15 and August 15

TREASURY DEPARTM ENT,
DEPARTM ENT

C IR C U L A R

O ffic e

Public Debt Series— No. 12-63
I.

OFFERING OF BONDS

1. The Secretary o f the Treasury, pursuant to the
authority of the Second Liberty Bond A ct, as amended,
invites subscriptions, at par and accrued interest, from
the people of the United States fo r bonds of the United
States, designated 4 percent Treasury Bonds o f 1970.
The amount of the offering under this circular is
$1,250,000,000, or thereabouts. In addition to the
amount offered fo r public subscription, the Secretary
o f the Treasury reserves the right to allot up to
$50,000,000 of these bonds to Government Investment
Accounts. The books will be open only on June 11,
1963, fo r the receipt of subscriptions fo r this issue.
II.

DESCRIPTION OF BONDS

1. The bonds will be dated June 20, 1963, and will
bear interest from that date at the rate of 4 percent
per annum, payable on a semiannual basis on Febru­
ary 15 and A ugust 15, 1964, and thereafter on
February 15 and A ugust 15 in each year until the
principal amount becomes payable. They will mature
A ugust 15, 1970, and wTill not be subject to call for
redemption prior to maturity.
2. The income derived from the bonds is subject
to all taxes imposed under the Internal Revenue Code
o f 1954. The bonds 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 by any
State, or any of the possessions o f the United States,
or by any local taxing authority.
3. The bonds will be acceptable to secure deposits
o f public moneys. They will not be acceptable in p ay­
ment o f taxes.
4. Bearer bonds with interest coupons attached,
and bonds registered as to principal and interest, will
be issued in denominations of $500, $1,000, $5,000,
$10,000, $100,000 and $1,000,000. Provision will be
made fo r the interchange of bonds of different de­
nominations and o f coupon and registered bonds, and
fo r the transfer o f registered bonds, under rules
and regulations prescribed by the Secretary of the
Treasury.
5. The bonds will be subject to the general regula­
tions of the Treasury Department, now or hereafter
prescribed, governing United States bonds.




o f th e

S ecreta ry ,

W ashington, June 7, 1963.
III.

SUBSCRIPTION AND ALLOTMENT

1. Subscriptions will be received at the Federal
Reserve Banks and Branches and at the Office o f the
Treasurer o f the United States, W ashington 25, D. C.
Only the Federal Reserve Banks and the Treasury
Department are authorized to act as official agencies.
Commercial banks, which fo r this purpose are defined
as banks accepting demand deposits, may submit sub­
scriptions fo r account of customers provided the names
o f the customers are set forth in such subscriptions.
Others than commercial banks will not be permitted
to enter subscriptions except fo r their own account.
Subscriptions from commercial banks fo r their own
account will be restricted in each case to an amount
not exceeding 10 percent o f the combined amount of
time and savings deposits, including time certificates
o f deposit, or 25 percent o f the combined capital,
surplus and undivided profits of the subscribing bank,
whichever is greater. Subscriptions W’ill be received
without deposit from banking institutions fo r their
own account, Federally-insured savings and loan asso­
ciations, States, political subdivisions or instrumentali­
ties thereof, public pension and retirement and other
public funds, international organizations in which the
United States holds membership, foreign central banks
and foreign States, and dealers who make prim ary
markets in Government securities and report daily to
the Federal Reserve Bank o f New Y ork their positions
with respect to Government securities and borrowings
thereon. Subscriptions from all others must be ac­
com panied by payment o f 10 percent of the amount of
bonds applied for, not subject to withdrawal until
after allotment. Follow ing allotment, any portion of
the 10 percent payment in excess o f 10 percent of the
amount o f bonds allotted may be released upon the
request of the subscribers.
2. A ll subscribers requesting registered bonds will
be required to furnish appropriate identifying num­
bers as required on tax returns and other documents
submitted to the Internal Revenue Service, i.e., an
individu al’s social security number or an employer
identification number.
3. A ll subscribers are required to agree not to
purchase or to sell, or to make any agreements with
respect to the purchase or sale or other disposition of
any bonds o f this issue, until after midnight June 11,
1963.

4. Commercial banks in submitting subscriptions
will be required to certify that they have no beneficial
interest in any of the subscriptions they enter fo r the
account o f their customers, and that their customers
have no beneficial interest in the banks’ subscriptions
for their own account.
5. The Secretary of the Treasury reserves the right
to reject or reduce any subscription, to allot less than
the amount of bonds applied for, and to make differ­
ent percentage allotments to various classes o f sub­
scribers ; and any action he may take in these respects
shall be final. Subject to these reservations, subscrip­
tions for amounts up to and including $100,000 will
be allotted in full, and subscriptions fo r amounts over
$100,000 will be allotted on a percentage basis, but
not less than $100,000 on any one subscription. The
basis o f the allotment will be publicly announced, and
allotment notices will be sent out prom ptly upon
allotment.

case payment will be deemed to have been completed.
In every ease where payment is not so completed, the
payment with application up to 10 percent of the
amount of bonds allotted shall, upon declaration made
by the Secretary o f the Treasury in his discretion,
be forfeited to the United States. A n y qualified de­
positary will be permitted to make paym ent by credit
in its Treasury Tax and Loan A ccount for bonds
allotted to it fo r itself and its customers up to any
amount for which it shall be qualified in excess o f
existing deposits, when so notified by the Federal
Reserve Bank o f its District.
V.

GENERAL PROVISIONS

1. A s fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
subscriptions, to make allotments on the basis and up
to the amounts indicated by the Secretary of the
Treasury to the Federal Reserve Banks o f the respec­
tive Districts, to issue allotment notices, to receive
IV. PAYMENT
payment fo r bonds allotted, to make delivery o f bonds
1.
Payment at par and accrued interest, if any, on full-paid subscriptions allotted, and they may issue
interim receipts pending delivery of the definitive
for bonds allotted hereunder must be made or com­
bonds.
pleted on or before June 20, 1963, or on later allot­
ment. Payment will not be deemed to have been
2. The Secretary of the Treasury may at any time,
completed where registered bonds are requested if
or from time to time, prescribe supplemental or
the appropriate identifying number, as required by
amendator}" rules and regulations governing the offer­
Paragraph 2 of Section III hereof, has not been fu r­
ing, which will be communicated prom ptly to the
nished ; provided, however, if a subscriber has applied
Federal Reserve Banks.
for but is unable to furnish the identifying number
by the payment date only because it has not been
DOUGLAS DILLON,
issued, he may elect to receive, pending the furnishing
o f the identifying number, interim receipts and in this
Secretary of the Treasury.




Subscription No.

Subscriber's Reference No.

CASH SUBSCRIPTION
For United States of America 4 Percent Treasury Bonds of 1970
Dated June 20, 1963, Due August 15, 1970
IM P O R T A N T IN ST R U C T IO N S
A llo tm e n t s . S u b scrip tio n s f o r a m ou n ts up to a nd in clu d in g $ 1 0 0 ,0 0 0 w iil b e a llo tte d in fu ll, a nd su b scrip tio n s f o r a m ou nts
o v e r $ 1 0 0 ,0 0 0 w ill b e a llo tte d on a p e r ce n ta g e b a sis, b u t n o t less than $ 1 0 0 ,0 0 0 on a n y on e s u b s crip tio n .
P a y m e n t. P a y m e n t at p a r f o r the b o n d s to b e a llo tte d h e r e u n d e r m ust b e m a d e on or b e fo r e June 2 0 , 1 9 6 3 . A q u a lifie d
d e p o s ita r y w ill b e p e r m itte d to m a k e p a y m en t b y c r e d it in its T r e a s u r y T a x a n d L oa n A c c o u n t .
D e p o s it. S u b scrip tio n s fr o m b a n k in g in stitu tion s a n d oth ers as s p e cifie d in S e ctio n 111 o f T r e a s u ry D ep a rtm en t C ircu la r N o. 1 2 -6 3 ,
P u b lic D e b t S e ries, w ill b e r e c e iv e d w ith ou t d e p o s it. S u b sc rip tio n s fr o m all oth ers m ust b e a c co m p a n ie d b y p a y m e n t o f 1 0 % o f
th e a m o u n t o f b o n d s a p p lie d fo r , e x c e p t that co m m e rcia l b a n k s s u b s crib in g f o r a cco u n t o f cu stom ers are u rg e d to re ta in th eir
c u s t o m e r s ’ d e p o s its until a ft e r a llotm en t. C h eck s a cco m p a n y in g the su b s crip tio n s sh ou ld b e m a d e p a y a b le to the o rd e r o f F e d e ra l
R e s e r v e B an k o f N ew Y o r k , F isca l A g e n t o f the U n ited States.
S u b scrip tio n a m ou n ts. A m o u n t o f b o n d s a p p lie d f o r m u st b e in m u ltip les o f $ 5 0 0 .

The subscription books will be open only on June 11
for the receipt of subscriptions.
F ederal R eserve B a n k

op

N ew Y

Dated at

or k ,

Fiscal A gent o f tlie United States,
New Y ork 45, N. Y .

.1963
A ttention: Securities Department— 9th F loor

G entlem en :

Pursuant to the provisions of Treasury Department Circular No. 12-63, Public Debt Series, dated June 7, 1963, the
undersigned hereby subscribes at par fo r United States o f A m erica 4 percent Treasury Bonds o f 1970, as follow s:
F or own a c c o u n t ................................................................................................................
F or our customers, as shown on reverse side (fo r use o f commercial banks*)
Total subscription.
* (U s e s e p a ra te su b s crip tio n fo rm s f o r cu stom ers w h o s e su b s crip tio n s a re f o r o v e r $ 1 0 0 ,0 0 0 an d f o r cu stom ers w h o s e s u b s crip ­
tio n s are f o r $ 1 0 0 ,0 0 0 or le s s .)

The undersigned subscriber is, or is subscribing fo r account of, a savings-type investor, as follow s (a commercial
bank, when listing its savings-type investor customers on reverse side, should indicate the kinds o f investors by the
letters used below) :
□
□
□
□
□

Pension and retirement funds— public
and private
B. Endowm ent funds (where principal ordinarily
is not expendable)
C. Insurance companies
D. Mutual savings banks
E . Fraternal benefit associations and labor
u n ions’ insurance funds
A.

□
□
□
□
□

F. Savings and loan associations
G. Credit unions
H. Other savings organizations, not including com ­
mercial banks (state typ e)
I. States, political subdivisions or instrumentalities
thereof, and public funds
J. Common trust funds under Regulation 9 o f the
Com ptroller of the Currency

( I f a commercial bank is subscribing for its own account or for account o f customers, the following certifications are made a part o f thig subscription)
W e H e r e b y C e r t i f y that we have received applications from our customers in the amounts set opposite the customers’
names on the list which is made a part o f this subscription ; that there has been paid to us by each such customer as required
by the official offering circular, not subject to withdrawal until after allotment, not less than 10 percent o f the amount
applied f o r ; that we have not made unsecured loans, or loans collateralized in whole or in part by the securities applied for,
to supply the amounts o f such payments to any of such custom ers; that we have no beneficial interest in the applications of
such customers, and that none of our customers has any beneficial interest in the amount subscribed fo r our own account.
W e F u r t h e r C e r t i f y that all subscribers fo r whom subscriptions are hereby entered have agreed not to purchase or
to sell, or to make any agreements with respect to the purchase or sale or other disposition o f any bonds o f this issue, until
after midnight, June 11, 1963.
W e F u r t h e r C e r t i f y that the subscription fo r our own account does not exceed 10 percent o f the combined amount
o f our time and savings deposits, including time certificates of deposit, or 25 percent of our combined capital, surplus and
undivided profits, whichever is greater.
W e F u r t h e r C e r t i f y that applications received by us, if any, from other commercial banks fo r their own account
and fo r the account o f their customers have been entered with us under the same conditions, agreements, and certifications as
set forth in this subscription form .

The undersigned agrees not to purchase or to sell, or to make any agreements with respect to the purchase or sale or
other disposition o f any bonds of this issue, until after midnight, June 11, 1963.
TO S U B S C R IB E R :

(F ill in all required spaces before signing)

Mark ( X ) in proper space
to indicate if this is:
Original subscription

(Name of subscriber— Please print or typewrite)

.................... □

Confirmation o f a telegram ......... □
Confirmation of a letter.................

□

B y .........

............................................. j

.........

(Official signature)

(T itle )

Address

(Spaces below w e for the use o f Federal Reserve Bank o f New Y ork )

Exam ined..........................

D E PO SIT

A cknow ledged..................
$

A LL O TM E N T

. .

$ .

—

-----------

C oded.................................
Figured

Advised

C arded...............................

( I f a c k n o w le d g m e n t o f this su b s crip tio n is d e s ire d , c o m p le te this s tu b )

R eceipt is acknowledged o f you r subscription for $.................................................... . 4 % Treasury Bonds of
1970, dated June 20, 1963 and maturing August 15, 1970.

For use of Federal Reserve Bank

Time Stamp

To.




(Name)

(Address)

(F o r use o f commercial banks only)

List of Customers Included in this Application
(U s e separate subscription form s fo r custom ers w hose subscriptions are fo r over $ 1 0 0 ,0 0 0
and fo r custom ers w hose subscriptions are fo r $ 1 0 0 ,0 0 0 or le ss)

( I f savingstype investor,
indicate kind
by letter— see
other side)

( I f space is insufficient in schedule below, attach separate listing)

Name o f Customer

Am ount Subscribed

Leave blank

— -----------------




f