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FEDERAL RESERVE BANK OF NEW YORK CIRCULARS
FOR THE YEAR 1959
01 CERTAIN OPERATIONS AND ACTIVITIES INCLUDING THOSE
AS FISCAL AGENT OF THE UNITED STATES
Circulars Nos. 4680 * 483 6
(No Operating Circulars Included)
VOLUME 33
Index starts on next page
(A cumulative index of circulars issued during the years 1914*1945
(Nos* 1-3044) is contained in Volume 22 j indexes of circulars Issued
during the years 1946*58 (Nos. 3045-4679) are contained in volumes 22-32,
respectively.)
Circulars Division
I N D E X OF C I R C U L A R S OF T H E F E D E R A L R E S E R V E B A N K OF N E W Y O R K
For the Y e a r 1959
Circulars Nos* 4680 - 4836
Vo lu m e 33
Circular
Ho.
ANNUAL STATEMENT
Of this Bank for the year 1958, (forty-fourth),
January 16, 1959* . . . . . . . . . . . . . . . . . . .
4688
APPOINTMENTS
Directors, January 28 , 1959 • • • • • ..................... ...... 4694
Directors, ( B u f f a l o Bra nc h) , November 17> 1959* * • • * *
4807
Directo rs , D e c e m b e r 29, 1 9 5 9 * ....................... . . *
4832
H. D. Cr o s s e t o s u c c e e d R. B. Wiltse, J a n u a r y 1, i 960 ,
December 9, 1959* * . . • ......... ...................... ...... 4823
Federal Advisory Council, member of for i 960 *
John J* Me Cloy• • » • • • • • • • « • • • ......... . .
4821
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Regulation
D - Amended, December 31, 1959* ♦ . • • ................ ...... 4836
D - S u p p l e m e n t , D e c e m b e r 1 a n d 3, 1 9 5 9 * ................ ...... 4836
E * Amendment, effective August 21 , 1959* * ......... •
4781
G - Revision, effective January 3, 1959 ................ ...... 4699
G * Amendment • State of Alaska in Twelfth Federal
Reserve District, January 3, 1959 * * * . . . • •
4682
G - Collection of Cash and noncash items payable in
Guam, January 8 , 1959 • * * • * • • • • • • * * .
4683
G • Amendment, effective August 21, 1959* .............. ...... 4781
4699
H - Amendment, effective January 3, 1 9 5 9 * ......... * *
H * Amendment - State of Alaska in Twelfth Federal
Reserve District, January 8 , 1959 * . * . . * . *
4682
H * A m e n d m e n t , e f f e c t i v e August 21, 1 9 5 9 ............* *
4781
I - Amendment, effective January 3, 1959* . * . . * . .
4699
I - Amendment, effective August 21, 1 9 5 9 ......... ............. 4781
J - Revision, effective January 3, 1959 * * * ......... ...... 4699
J - Amendment * State of Alaska in Twelfth Federal
Reserve District, January 8 , 1959 « • • » • • • •
4682
J * Collection of cash and noncash items payable in
Guan, January 8 , 1959 .............................. ...... 4683
J * Amendment, effective August 21, 1 9 5 9 .............. *
4781
L * Amendment, effective August 21, 1959* • • • * . ♦ •
4781
P - Amendment, effective January 9, 1 9 5 9 .............. *
4699
Q - Amendment, effective October 1, 1959* . . . . * . .
4781
R ** Amendment, effective October 23, 1959 . . . * * . .
4818
T • Amendment, effective June 15, 1959* ................ ...... 4740;4746
T - Revision, effective June 15, 1959 .................. ...... 4746
T «* Interpretations by Board of Governors entitled
"Transactions in Restricted Accounts Under Amended
Withdrawal Rules of Regulation T ”, June 15, 1959*
^?46
Index of Federal
Reserve Bank Circulars
H o b . 4680 * 4836
«*2«*
BOARD OF GOVERNORS OF THE FEDERAL RESERVE S Y S T E M (Continued)
U * Amendment, effective January 3* 1959* ..................
U • Amendment * State of Alaska in Twelfth Federal Reserve
District, J a n u a r y 8 , 1 9 5 9 * * .......... .. ...............
Circular
Mo*
4699
4682
* Amendment, effective June 15, 1 9 5 9 * .......................
4-740
* Revision, effective June 15, 1959 ............... # . . .
4746
* Supplement, effective June 15, 19 5 9 .......... * . • . .
4746
- Interpretations by Board of Governors entitled
MPurchase*and-Sale Substitution on same day under
amended Regulation U % May 29, 1 9 5 9 .......... * • «
4746
U - Mr# Wiltse* s printed letter and pamphlet entitled
"Questions and Answers Illustrating Application of
Regulation U", June 4, 1 9 5 9 * * ..................... at 4 ? 4 6
U • Amendment, effective August 21, 1 9 5 9 ............... * • •
4f8l
U
U
U
U
B O N D S (See T R E A S U R Y I S S U E S j; U N I T E D S T A T E S S A V I N G S B O N D S )
CAPITAL STOCK
Amendment of Regulation I, effective January 3, 1959* • • •
CHECKS (including NONCASH ITEMS)
Collection of, payable in Guam, January 8 , 19 5 9 • • • • • •
Collection of, discontinuance of Federal Reserve Exchange
Drafts • Revision of Time Schedule, June 29, 1 95 9 « . . .
Government Checks - Time Limit on Payment of, amendment to
T r e a s u r y D e p a r t m e n t C i r c u l a r Ho. 21, F e b r u a r y 19* 1959* •
R e g u l a t i o n s G a n d J - R e v i s i o n of » e f f e c t i v e J a n u a r y 13,
1 9 5 9 ........................................ * ......................
Return of Unpaid Checks presented through Buffalo Clearing
House Association, February 18, 1959* • • • • • • » • • •
'State of Alaska in Twelfth Federal Reserve District •* amends
Regulations G, H, J, and U and also amends Operating
Circulars Nos. 4 and 8 , January 8 , 19 5 9 * * * * .........
State of Hawaii in Twelfth Federal Reserve District,
A u g u s t 24, 1 9 5 9 * * • ..........
. . . . . . . . . . . . .
4699
4683
4753
4709
46 99
47 08
4682
477 5
CIRCULARS
Currently effective lists of our Operating Circulars and
Board’
s Regulations and revised table of contents of our
Operating Circulars, March 26 , 195 9 ........................at 4719
COIN
One-cent coin * newly designed, January 9 $ 1 95 9 .......... *
4681
COLLECTIONS (See CHECKS)
COMMODITY CREDIT CORPORATION
4 % C e r t i f i c a t e s of I n t e r e s t ( S p e c i a l S e r i e s ) o f f e r e d
J a n u a r y 6 , i 960 , due A u g u s t 1, i 960 , D e c e m b e r 29, 1959* *
at 4831
lixdex. of Federal
He serve Lank Circulars
U q b » 4660 * 4836
Circular
Ho*
-3-
COUNTERFEIT CURRENCY
Deceptive Counterfeit Federal Beserve Hotes
(¥4) A u g u s t 11, 1959* * * * ..................... ...........
CURRENCY
Reports of large and unusual currency transactions revised
report forms and instructions, August 3, 1959* * .........
at 4770
hr(66
DEPOSITS OF PUBLIC MONEYS
Deposits of tax collections in Treasury Tax and Loan Accounts
March 1959, February 17, 1 9 5 9 * * * . * . * * * . * ♦ * . *
*
June 1959# May £0, 1959* * * * * . . ..............
September 1959# August 16, 1959* * * • * * • • • • * • • •
December 1959* Bovember 13, 1959 • • • • • » • • • • • » •
Change in Groupings of Treasury Tax and Loan Depositaries
Groups A and B reclassified according to April 23 , 1959
closing balances, April 23, 1959 * • * * * * • • * * . *
4705
4743
4773
4605
4726
DIRECTORS
Appointment of, January 28, 1959 * * * * * .............. * •
4694
Appointment of, Buffalo Branch * • • * • • • » • • • • • • •
480?
Appointment of, December 29* 1959* * » • * • • • • • • • • «
4832
Deatn of Cameron 0. Garman, Buffalo Branch, October 17, 1959
October 19, 1959 ............ * * ........... * * * * « • « * at 4795
Election of
October 20, 1959 - nomination and election to choose
successors to the two directors selected by Group 2,
whose terms expire December 31, 1959 * * • • * • • * • •
4696
Hovember 27, 1959 - Cesar J. Bertheau, Lee H* Bristol, Sr.,
and Kenneth H* Hannan nominated by banks in Group 2* * *
4815
December 15, 1959 - Cesar J* Bertheau, Kenneth H* Hannan
elected for three year terms beginning January 1, i 960 *
4826
DIRECTORY
Of this Bank
May £5, 1959* * * * * * * * * * *
.........
. . . * . . .
at 4 744
FEDERAL FARM LOAN BONDS
Redemption of
February 2 maturity - offering of two new issues,
January 16 , 1959 * * * * ......... * • • * • * * * « * *
May 1 maturity - offering of new issue, April 10, 1959 * *
October 2 0 maturity - offering of new issue,
October 6 , 1959* • * * * * • * • * ......... * * * . * .
January 5 maturity - offering of new bonds,
December 10, 1959* * * • * ................ * * * * * * *
FEDERAL RESERVE BOARD (See BOARD OF GOVERNORS OF THE FEDERAL
RESERVE SYSTEM)
4690
4725
4?90
4o25
Index of Federal
Reserve Bank Circulars
E o s . 4680 - 4836
Circular
No.
GOVERNMENTAL CORPORATIONS AND CREDIT AGENCIES OF THE UNITED
STATES (See FEDERAL FARM LOAN BONDSj FEDERAL NATIONAL
MORTGAGE ASSOCIATION)
GOVERNMENT CHECKS (See CHECKS)
GOVERNMENT DEPOSITS (See DEPOSITS OF PUBLIC MONEYS)
MARGIN REQUIREMENTS (See BOARD OF GOVERNORS OF THE FEDERAL
RESERVE SYSTEM - Regulations T and U)
MEMBER BANKS
Earnings and Expenses of Second District Member Banks in
the first half of 1959, September 24, 19 59 ......... ..
Nev Member Banks
United Bank, Gtar Lake, New York, April 17, 1959 • * . . .
Operating ratios of member banks in the Second Federal
Reserve District for the year 195®, March 27, 1959* . . .
at 4783
at k*J26
at k j 2 0
NONCASH ITEMS (See CHECKS)
NOTES (See CURRENCY; COUNTERFEIT CURRENCY; TREASURY ISSUES)
OFFICERS
G. Morgan Browne, Manager, Emergency Planning Department
died January 14,1 9 5 9 ........... ............................. at 4686
Howard D. Crosse - appointment of - as vice president,
effective January 1, i 960 to succeed R. B. Wiltse in the
Bank Supervision and Relations Function, December 9, 1959•
4823
REGULATIONS (See BOARD OF GOVERNORS OF THE FEDERAL
RESERVE SYSTEM)
RESERVES
Member banks permitted to count part of vault cash for
reserve purposes, November 30, 1959 .....................*
New law on member bank reserve requirements, August 4, 1959*
Regulation D - Amended, December 31, 1959 • • • « • • • • •
Regulation D - Supplement, December 1 and 3, 1959 .........
4767
483 6
4836
SECURITIES
Safekeeping, Handling and Shipment of Securities - Revision
of Operating Circular No. 14, March 9, 1959 ..............
4712
4817
STATEMENT (See ANNUAL STATEMENT)
TREASURY BILL OFFERINGS
Weekly
January 15, 1 9 5 9 ......................... .. * ..............
January 22, 1959* . . . . . . ......... . . . . . . . . .
January 29 , 1959* * * .......................................
4680
4686
4692
Index of Federal
Reserve Baals Circulars
Bos. 4680 « 4 3 3 6
-5-
TREASURY BILL OFFERINGS (Continued)
Weekly (Continued)
February 5, 1959* • • • . . • • • . • • • • • • • * • «
February 13, 1 9 5 9 ....................... ............... *
February 19, 1959 ..................................... .. .
February 26, 1959 .............................. ..
March 5 , 1959 ..............................................
March 12, 1959..............................................
March 19, 1 9 5 9 ..............................................
March 26, 1959..................... .........................
April 2, 1959 .................. ............... ..
April 9, 1959 .....................................
April 16, 1 9 5 9 ............................ ..
April 23, 1959. . ..........................................
April 30, 1 9 5 9 ......... ....................................
May 7, i?;° ................................................
May 14, 1959.................................................
May 21, 1 9 5 9 ................................................
May 28, 1959....................... ..
June 4, 1959................................................
June 11, 1959 ..............................................
June IS, 1959 ........................................ ..
June 25, 1959 ...............................................
July 2, 1959. ...............................................
July 9, 1959................................................
July 16, 1959 ..............................................
July 23, 1959 . ............................................
July 30, 1959 ..............................................
August O, 1959. ............................................
August 1 3 , 1959 ............................................
August 20, 1959 . ..........................................
August 27, 1959 ........................................ .. .
September 3, 1959 ..........................................
September 10, 1 9 5 9 ..........................................
September 17, 1959- .......................... .............
September 24, 1959. . .....................................
October 1, 1959 ......... ..................................
October 8, 1959 ..................... ......................
October 15, 1 9 5 9 . .........................................
October 22, 1959 .............. ...................... ..
October 29, 1 9 5 9 ............................................
Bovember 5, 1 9 5 9 ............................................
November 12, 1959 .........................................
Bovember 19, 1959 ................ .........................
Bovember 27, 1959 ..................................... .. .
December 3, 1 9 5 9 ............................................
December 10, 1959 ......................... ...............
December 17, 1959 ................................ ..
December 24, 1959 ................................... ..
December 31, 1959 ..........................................
January 7, I960 ............................................
Circular
Ho.
4695
4696
4702j4707
4706
4710
4711
4713
4714
4718
4723
4724
4726
4727
4729
4734
4739
4744
4745
4747
4748
4749
4750
4754
4757
4759
4762
4764
4769
4771
4774
4776)4778
4777
4779
4780
4783
478434788
4787
4793
4797
4798
4301
4803
4808
4813
4819
4822
4827:4830
4829
4833
Index of Federal
Reserve Bank Circulars
Hfos# 4 6 8 0 * ^836
Circular
No*
-6~
TREASURY BILL OFFERINGS
Other than weekly
February 1 6, 1959 (217-day, Tax Anticipation Series). •
4 7 0 0 j4701;4703
April 1, 1959 (289-day, Special)* ............................ 4715;4717;4721
^731^735
May XI, 1959 (340-day, S p e c i a l ) .........................
May 15, 1959 (221-day, Tax Anticipation Series) . . . .
4 730;4732|4736
July 8, 1959 {25^-day, Tax Anticipation Series) . . • ,
4751|4752 j 4755
July 15, 1959 (366-day, Special)......... ...............
4756^758
August 19# 1959 (Additional Amount series dated
July 8, 1959# 216-day, Tax Anticipation Series) . . *
4768;4770*4772
October 21, 1959 (245-day, Tax Anticipation Series) . •
4785;4789;4794
December 2, 1959 (320-day, Special) ............ * * . .
4809|48l0;48l4
January 8, i 960 (Additional Amount series dated
October 21, 1959# I 66-*day, Tax Anticipation Series) *
4834;4835
TREASURY ISSUES (not bills)
Bondsi
k$ 6t 1930 (Cash Offering)
..............
4$ of 1969> Additional Issue (Cash Offering) . . . • .
Certificates of Indebtedness
3 3/4$ of A-1960 (Exchange Offering) .........
. . . .
4$ of B-1960 (Excharge Offering) ..................... .
!
4 3/4i> of C-I 960 (Exchange Offering) . . . . . . . . .
Notes
3i$ of 1980 (Cash Offering).........
4$ of B -1962 (Exchange Offering) . . * ................
4^ of B-I 963 (Cash Offering) . ..................... . .
4$ of A - 1961 (Preliminary figures on August 1, 1959
Redemption)• • • • • • • • • • ......... . . . . . .
4 3/4$ of C-I 96O (Exchange Offering) • • • • • • • » .
4 3/4 $ of A-1964 (Exchange Offering)
5$ of B-1964 (Cash Offering) ............................
4
7/ 8$ of C-I 963 (Exchange Offering) ..................
4 3/4$ of A-1964, Additional Issue (Exchange Offering),
k$ of B-I 962 (Preliminary figures on February 15* 19&0
Redemptions) . . . . . . . . . . . . . . . .........
Miscellaneous
Text of a message on public debt management to
Congress by IH/ight D. E i s e n h o w e r ................ * *
4684;4685;4687;
4689*4693
4 7 1 5 j47l6;4719;
4722
4696;4697»4700;
4704
4730|4737|4738|
4-7&1J 4742
4799j4800j4802i
4806
4 6 8 4 ;4685;4687;
4691
469614697;4700;
4704
4715;47l6;4719;
4722
4733
4760;476l|4763;
4765
4760$476l;4763l
47 65
4785;4786j4792;
4795
4 7 9 9 j4800|4802;
4806
4809;48ll;48l6
4824;4828
4812
at
4747
index of Federal
Reserve Bank Circulars
Hob* 4680 - 4836
7-
UNITED STATES SAVINGS BONDS
R e v i s i o n of Treasury D e p a r t m e n t C i r c u l a r s 653 a n d 905* • •
R e v i s i o n of Operating Circular Ho* 2 0 , Hovember 1 2 , 1959 •
Series F and G
Exchange offering - issued in 1948, maturing in i 960 * .
Series E, F, or J ** Kontaxable exchange for Series H,
effective January 1, i 960 ............4831
Te x t of a message on public debt management to
Congress by Dwight D. Eisenhower ♦ * * ............. . •
Circular
No.
4791
4804
4809;48ll;48l6
4824;4828
at
4747
@FedFRASER