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FEDERAL RESERVE BANK
OF NEW YORK
Certificates of Indebtedness
Department
("Circular No. 6ll"|
[ June 9 1924 J
$150,000,000
(or thereabouts)
June 16th Offering of 2% Per Cent. Treasury Certificates
Maturing in Six Months
Subscription Books Open June 9
To all Banks, Trust Companies, Savings Banks, Bankers, Investment Dealers,
Principal Corporations and Others Concerned in the Second Federal Reserve District:
The Secretary of the Treasury today offers for subscription a new series of
Treasury certificates of indebtedness running for six months from June 16, 1924,
and bearing interest at the rate of 2% per cent, on an annual basis. In announcing
the offering Secretary Mellon made the following statement:
The Treasury is today announcing its June financing which takes the form of
an offering of two and three-quarters per cent. Treasury certificates of indebtedness,
dated and bearing interest from June 16, 1924, maturing December 15, 1924. The
certificates are tax certificates and the amount of the offering is $150,000,000 or
thereabouts. The Treasury will accept in payment for the new certificates at par
Treasury certificates of Series TJ-1924 maturing June 16, 1924, and Treasury notes
of Series A-1924 maturing June 15, 1924.
About $134,000,000 of certificates of indebtedness will become payable on
June 16, 1924, and $311,000,000 of Treasury notes will become payable on June 15,
1924, together with interest on the public debt of approximately $76,000,000.
The low rate of interest on the new certificates reflects the present easy money
conditions.
The present offering of certificates is intended, with the expected tax payments
on June 16, 1924, and the balances already on hand, to provide for all requirements
until the September 15, 1924, tax payment date when additional financing will be
necessary.
The subscription books for this issue are now open and applications will be
received by this bank. The terms of the offering are given in full on the following
page.
Very truly yours,
B E N J . STRONG,
Governor.
(New Issue)
Federal Reserve Bank of New York
Offering of $ 1 5 0 , 0 0 0 , 0 0 0 (or thereabouts)
^
United States of America
Two and Three-Quarters Per Cent. Treasury Certificates of Indebtedness
SERIES TD2-1924
Dated and bearing interest from June 16, 1924.
Due December 15, 1924.
To all Banks, Trust Companies, Savings Banks, Bankers, Investment Dealers,
Principal Corporations and Others Concerned in the Second Federal Reserve District:
The Secretary of the Treasury, under the authority of the act approved September 24, 1917,
as amended, offers for subscription, at par and accrued interest, through the Federal Reserve Banks,
Treasury certificates of indebtedness of Series TD2-1924, dated and bearing interest from June 16,
1924, payable December 15, 1924, with interest at the rate of two and three-quarters per cent,
per annum on an annual basis.
Applications will be received at the Federal Reserve Banks.
Bearer certificates will be issued in denominations of $500, $1,000, $5,000, $10,000, and $100,000.
The certificates will have one interest coupon attached, payable December 15, 1924.
The certificates of said series shall be exempt, both as to principal and interest, from all taxation
now or hereafter imposed by the United States, any State, or any of the possessions of the United
States, or by any local taxing authority, except (a) estate or inheritance taxes, and (b) graduated
additional income taxes, commonly known as surtaxes, and excess-profits and war-profits taxes,
now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, associations, or corporations. The interest on an amount of bonds and certificates authorized
by said act approved September 24, 1917, and amendments thereto, the principal of which does
not exceed in the aggregate $5,000, owned by any individual, partnership, association, or corporation,
shall be exempt from the taxes provided for in clause (b) above.
The certificates of this series will be accepted at par, with an adjustment of accrued interest,
during such time and under such rules and regulations as shall be prescribed or approved by the
Secretary of the Treasury, in payment of income and profits taxes payable at the maturity of the
certificates. The certificates of this series will be acceptable to secure deposits of public moneys
but will not bear the circulation privilege.
The right is reserved to reject any subscription and to allot less than the amount of certificates
applied for and to close the subscriptions at any time without notice. The Secretary of the Treasury
also reserves the right to make allotment in full upon applications for smaller amounts, and to
make reduced allotments upon, or to reject, applications for larger amounts, and to make classified
allotments and allotments upon a graduated scale; and his action in these respects will be final.
Allotment notices will be sent out promptly upon allotment, and the basis of allotment will be
publicly announced.
Payment at par and accrued interest for certificates allotted must be made on or before
June 16, 1924, or on later allotment. After allotment and upon payment Federal Reserve
Banks may issue interim receipts pending delivery of the definitive certificates. Any qualified
depositary will be permitted to make payment by credit for certificates allotted to it for itself and
its customers up to any amount for which it shall be qualified in excess of existing deposits, when so
notified by the Federal Reserve Bank of its district. Treasury certificates of indebtedness of Series
TJ-1924, maturing June 16, 1924, and Treasury notes of Series A-1924, maturing June 15, 1924,
will be accepted at par in payment for any certificates of the Series TD2-1924 now offered which
shall be subscribed for and allotted, with an adjustment of interest accrued, if any, on the certificates of Series TD2-1924 so paid for.
As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to
receive subscriptions and to make allotments on the basis and up to the amounts indicated by the
Secretary of the Treasury to the Federal Reserve Banks of the respective districts.
I
Digitized
\ for FRASER
New York, June 9, 1924.
http://fraser.stlouisfed.org/
Federal
\ Reserve Bank of St. Louis
Yours very truly,
BSNJ. STBONG,
Governor.
G. D . 1
TO BE USED IN REPORTING PAYMENTS FOR CERTIFICATES OF INDEBTEDNESS ONLY
e
^
^*
j
SERIES TD2-1924-2 3 / 4 %
I*
2 °
•5= - g
cS
£ «
mm
*
(Location)
Dated June 16,1924—Due December 15,1924
;
, 19
(Date)
I HEREBY CERTIFY that there has been deposited this day with the above bank or trust company, to the credit of the
^
ZS
•
(Name of bank or trust company)
V
*
si
Federal Reserve Bank of New York, as Fiscal Agent of the United States War Loan Deposit Account, to be held subject to
withdrawal on demand, the sum of
JS
Dollars,
Cashier or Vice-President.
INSTRUCTIONS
Make reports on this form when payments for certificates of indebtedness subscriptions are made through credit in
the FEDERAL RESERVE BANK OF NEW YORK as FISCAL AGENT OF THE UNITED STATES WAR LOAN DEPOSIT ACCOUNT
in your books, forwarding to the Federal Reserve Bank of New York.
Demand? for withdrawal of deposits in the above account will be made through the Federal Reserve Bank of
New York as fiscal agent of the United States.
NOTE—See Reverse
Original
FEDERAL RESERVE BANK
OF NEW YORK
Application Number
NOTICE OF ALLOTMENT
on
Subscription to 2% Per Cent. Treasury Certificates, Series TD2-1924
Dated June 16, 1924. Due December 15, 1924
June
, 1924
Referring to your subscription to $
(par value)
United States of America 2 ^ per cent. Treasury certificates of indebtedness—Series TD2-1924, dated June 16, 1924, due
December 15, 1924,—you have been allotted $
, as follows:
CLASSIFICATION
$500 to $10,000
$
10,100 to
50,000
50,100 to 100,000
100,100 to 500,000
500,100 to 1,000,000
Over
1,000,000
Total,
$
J ^ T O OBTAIN DELIVERY OF THE SECURITIES THE ORIGINAL OF THIS NOTICE, PROPERLY FILLED
OUT AND SIGNED IN THE SPACES PROVIDED BELOW, MUST BE RETURNED IMMEDIATELY TO US.
FEDERAL RESERVE BANK OF N E W YORK,
Checked by.
Fiscal Agent of the United Stales.
Instructions to Federal Reserve Bank of New York
ISSUE SECURITIES IN THE
FOLLOWING DENOMINATIONS
Pieces
Denominations
LEAVE BLANK
Par Amount
DISPOSE OF SECURITIES AS INDICATED BELOW
Numbers
Dpliver to CrnverTiTnppt Deposit Div.
TTold for Saf«»tp#»piTig (For nr»Tibers only)
$ 500
1,000
Deliver Over Counter
5,000
Deliver to Loan Department
Ship Definitive Securities
10,000
100,000
Total
$
Special Instructions
$
The method of payment is indicated below:
By debit to our reserve account
$
By exchange of Series TJ-1924
Treasury certificates
By check
By credit to War Loan Deposit Account
By exchange of Series A-1924
Treasury notes
By cash
Subscriber
Street address.
State
Town
DO NOT USE THESE SPACES
Paid Stamp
Checked to A pp.
Delivery Receipt
Government Deposit
Rele«pH
Prepared
Amount
Receivei
Deliver to us
Checked
Bv
Free
Ry
I
Duplicate
FEDERAL RESERVE BANK
OF NEW YORK
Application Number
NOTICE OF ALLOTMENT
on
Subscription to 2% Per Cent. Treasury Certificates, Series TD2-1924
Dated June 16, 1924. Due December 15, 1924
June
, 1924
Referring to your subscription to $
(par value)
United States of America %)4 per cent. Treasury certificates of indebtedness—Series TD2-1924, dated June 16, 1924, due
December 15, 1924,—you have been allotted $
, as follows:
CLASSIFICATION
to $10,000
50,000
to
to 100,000
to 500,000
to 1,000,000
1,000,000
Total,
OBTAIN DELIVERY OF THE SECURITIES THE ORIGINAL OF THIS NOTICE, PROPERLY FILLED
OUT AND SIGNED IN THE SPACES PROVIDED BELOW, MUST BE RETURNED IMMEDIATELY TO US.
$500
10,100
50,100
100,100
500,100
Over
FEDERAL RESERVE BANK OF N E W YORK,
Checked by.
Fiscal Agent of the United States.
Instructions to Federal Reserve Bank of New York
ISSUE SECURITIES IN THE
FOLLOWING DENOMINATIONS
Pieces
Denominations
LEAVE BLANK
Par Amount
DISPOSE OF SECURITIES AS INDICATED BELOW
Numbers
Deliver to Government Deposit Div,
$
Holrl for Safekeeping (P7>r memhers only)
$ 500
1,000
Deliver Over Counter
5,000
Deliver to Loan Department
Ship Definitive Securities
10,000
Special Instructions
100,000
Total
The method of payment is indicated below:
By debit to our reserve account
$
By exchange of Series TJ-1924
Treasury certificates
By check
By credit to War Loan Deposit Account
By exchange of Series A-1924
Treasury notes
By cash
Subscriber
Street address.
Town
State
DO NOT USE THESE SPACES
Paid Stamp
Checked to A pp.
Delivery Receipt
Government Deposit
Wele«ce^
Amount
Deliver to us
Received
Checked
By
Deliverer!
1 Free
By
I
BTC
Subscription by Bank or Trust Company
Lot Number
Application Number
By Cash or by Book Credit
To 2 /4 Per Cent. Treasury Certificates of Indebtedness, Series TD2-1924
Dated June 16, 1924. Due December 15, 1924
3
Dated at
.1924
Interest will be computed as follows:
On Treasury certificates of indebtedness. Series TD2-1924, on annual 365 day basis; decimal for one day's interest on $1,000 is
$0.07534£47. No interest will accrue on Treasury notes of Series A-1924 after June 15, 1924.
FEDERAL RESERVE BANK OF N E W YORK
Fiscal Agent of the United States
New York, N. Y.
DEAR SIRS:
Pursuant to the terms stated in the offering of the Secretary of the Treasury dated June 9, 1924, please enter our subscription
at par and accrued interest for $
(par value)
United States of America 2% Per Cent. Treasury certificates of indebtedness, Series TD2-1924 dated June 16, 1924, due December 15, 1924.
The above amount includes subscriptions for our customers and for our own account. The subscriptions are classified as follows:
No. |
500 to 10,000
Amount
Leave Blank
No. |
@
«
CLASSIFICATION OF SUBSCRIPTIONS
50,100 to 100,000
10,100 to 50,000
Amount
Leave Blank
No. | Amount
Leave Blank
Leave Blank
@
u
u
a
a
a
u
a
100,100 to 500,000
Leave Blank
Amount
No. I
u
500,100 to 1,000,000
Amount
Leave Blank
No.
No. |
Gh
<3i
a
a
Over 1,000.000
Amount .
Leave Blank
Leave Blank
Total Subscript'n
Allotted
a
\
"
I
f
We agree to pay you on June 16, 1924, at par and accrued interest for any certificates allotted on account of this subscription,
and payment will be made by the method indicated below:
By debit to our reserve account . - - - - - . $
By check
$
By credit to War Loan Deposit Account - - - - $
By exchange of Series TJ-1924 Treasury certificates $
By exchange of Series A-1924 Treasury notes - - - %
write yes
This is a confirmation of a previous subscription
write no
Subscriber
Town
Official signature
State..
THIS SPACE IS FOR THE USE OF THE FEDERAL RESERVE BANK OF NEW YORK
FIGURED
CLASSIFIED
CARD
LEDGEH
ACKXOWLEGED
GOVERNMENT DEPOSIT
DISPOSITION'
Deliver
Free...
Figured Checked Advisee
Allotment
Payment
War Loan Deposit
—
$
Released
Date
$
— —
— —
—
Reserve Account Charged
Date of Charge
By Exchange of Series
TJ-1924 certificates
— —
— —
By Exchange of Series
A-1924 notes
—
By Check
Received
Checked
Recorded
Window-
Custody
Mail
Other Depts.
IB-CS
SUBSCRIPTION
Lot Number
Application Number
To 23/4 Per Cent. Treasury Certificates, Series TD2-1924
Dated June 16, 1924. Due December 15, 1924
Dated at.
.1924.
Interest will be computed as follows:
Treasury certificates of indebtedness, Series TD2-1924, on annual 365 day basis. Decimal for one day's interest on $1000 is
$0.07534247. No interest will accrue on Treasury notes of Series A-1924 after June 15, 1924FEDERAL RESERVE BANK OF N E W YORK,
Fiscal Agent of the United States,
New York, N. Y.
DEAR SIRS:
Pursuant to the terms stated in the offering of the Secretary of the Treasury dated June 9, 1924, please enter our (my)
subscription at par and accrued interest for
$
(par value)
United States of America 2?4 per cent. Treasury certificates of indebtedness, Series TD2-1924, dated June 16, 1924, due December
15, 1924.
We (I) agree to pay to you on June 16, 1924, at par and accrued interest for any certificates allotted on account of this
subscription, and payment will be made by the method indicated below:
By Exchange of:
Treasury certificates, Series TJ-1924
- - $
Treasury notes, Series A-1924 - -
- - $
By check
•
By cash
\
$
- - - - - - - - -
Payment will be made by (name)
This is a confirmation of a previous subscription
Write Yes
Write N o
•
,
;
Subscriber
Street address..
Town
State
THIS SPACE IS FOR THE USE OF THE FEDERAL RESERVE BANK OF NEW YORK
FIGURED
CARD
CLASSIFIED
Figured Checked Advised
Allotment
9
—
—
——
—
i
—
1.
Received
Checked
LEDGER
ACKNOWLEDGED
Payment
By Exchange of
Series TJ-1924 Treasury
certificates
By Exchange of
Series A-1924 Treasury
notes
DISPOSITION'
Released
Date
By Cash
By Check
Check No.
Interest
Checked
Drawn on
Recorded
Window
—...
Custody
.
—
•
1
Mail
@FedFRASER