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W M S e s
L IB R A R Y
ROOM 5030
JUN 14 1972
TREASURY DEPARTMENT
TREASURY DEPARTMENT
lASUilTOI
FOR RELEASE, MORNING IH
March 10, 1936,
Press Service
3/9/36
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 273-day Treasury bills, dated March 11, 1936, and matur
ing December 9, 1936, which were offered on March 6, were
opened at the Federal Reserve banks on March 9*
The total amount applied for was $123,071,000, of which
$50,000,000 was accepted. The accepted bids ranged in price
from 99*962, equivalent to a rate of about 0*050 percent per
annum, to 99*913, equivalent to a rate of about 0*116 per
cent per annum, on a bank discount basis. Only part of the
amount bid for at the latter price was accepted. The
i
average price of Treasury bills to be issued is 99*921 and
the average rate is about 0*104 percent per annum on a bank
discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, March 10, 1936,________
3-9-36.
Press Service
No* 7-0
Secretory of the Treasury Morgenth.au announced lost evening thp.t the
tenders for $50,000,000, or thereabouts, of 273-day Treasury bills, doted
'March 11, 1936, "and ma.turing December 9, 1936, which were offered on March 6,
were opened at the. Federal Reserve, bonks on Morch 9.
The totod amount applied for was $123,071,000, of which $50,000,000
was accepted.
The 'accented bids ranged in nrice from 99.962, equivalent
f
to a rate of about 0.050 percent per annum, to 99,913, equivalent to a. rate
of about 0.115 percent per annum, on a, bank discount basis.
the amount bid for a,t the la.tter price was arceoted.
Only part of
The average trice
of Treasury bills to be issued is 99,921 and the average rate is about 0.104
percent per annum on a bank discount basis.
ooOoo
treasury ü W A w m m r
Washington
FOR B S IÄ S E , MORNING m m ¡PAPERS,
Thursday, Mareh lg, 1956»
Press Service
1
7-/
Jk
Secretary of the Treasury Itorgeathau today announced the final subscription
and allotment figures with respect to the current offering of £-8/4 percent Treasury
Bonds of 194B-8Ì and 1-1/2 percent Treasury Notes of Series A-1941»
Subscriptions and allotments vere divided among the several federal Reserve
districts and the Treasury as follows:
i
8-8/4 PSflCBNT TRM8DHY BONDS OF 1948-81
federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St* Louis
Minneapolis
Kansas City
Dallas
San franc isco
Treasury
T o m
Total Cash
Total M e h m m
Subscriptions subscriptions
Mscalved
Received
in full)
Ì
# 6,650,100
455,436,100
879,881,000
8,730,256,800
6.780.100
887,631,900
8,887,300
285,022,780
5,828,800
123,417,050
8,874,700
221,608,550
51,286,000
429,927,450
4,482,70©
112,796,750
0,282,500
83,34.8,5001
3,980,400
79,313,050
881,700
85,536,000
11,928,800
320,596,950
2.028,000
8.934.100
^,4f
f:5,106,9Ì8Ì8»3
Total
Total
Subscriptions Subscriptions
Allotted
Received
462,086,200 I 71,480,350
741,497,450
3,109,837,800
43,217,080
264,382,000
43,228,480
240,610,05©
26,660,900
128,742,850
88,661,300
224,483,250
117,081,150
481.213.450
24,811,780
117,279,480
17.578.700
61,608,000
19,468,500 \
83,293,450
18.446.700
86,367,700
86,154,450
332.525.450
9,316,100
10,989,100
t8,603,2&8,78Q
I
I
1-1/2 PfHClNT TREASURY NOTES OF SERIES A-1941
Federal Reserve
District
Total Cash
Subscriptions
Received
Total Exchange
Subscription®
Received
Total
Total
Subscriptions Subscriptions
Allotted
Received
(Allotted in full)
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St, Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
| 258,078,400
1,682,370,300
178,841,700
219,259,600
106,698,600
103,736,600
319,128,600
90,314,300
40,585,600
63,556,800
64,133,300
260,272,500
500,000
f3,354,454,300
|
1,841,000
36,436,800
1,609,200
3,475,000
151,500
121,300
3,436,100
377,900
161,000
155,700
18,000
1,510,000
^05,000
148,078,500
§ 289,619,400 f 50,656,800
335,820,000
1,688,807,100
34,008,800
177,460,900
44,498,300
£32,734,600
20,897,600
106,880,100
20,799,900
103,887,900
63,872,900
881,868,700
19,129,300
90,693,300
8,529,400
40,746,600
15,778,400
63,713,500
15,328,000
64,141,300
49,216,000
28*1',783,800
178,000
585,000
1676,704,100
fi3,40E,848,800
f
1
|
|
1
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS.
Press Service
Thursday. March 12. 1936.______ ;
No. 7—i
3-11-36
Secretary of the Treasury Morgenthau today announced the final subscription
and allotment figures with respect to the current offering of 2-3/4 percent Treasury
Bonds of 1948-51 and 1-1/2 percent Treasury Notes of Series A-1941.
Subscriptions and allotments were divided among the several Federal Reserve
districts and the Treasury as follows:
________ ■.
2-3/4 PERCENT TREASURY BONDS OF 1948-51
Total Cash
Total Exchange
Total
Total
Subscriptions Subscriptions
Subscriptions Subscriptions
Received
Received
Received
Allotted
_______ _____ (Allotted in f u ll)___________________________
Boston
New York
Philadelphia
Cleveland
Ri chmond
Atlanta
Chicago
S t. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
$ 455,436,100 $ 6,650,100
2,730,256,800 '079,581,000
6,750,100
257,631,900
5,587,300
235,022,750
5,325,800
123,417,050
2,874,700
221,608,550
429,927,450
51,286,000
.4,482,700
112,796,750
8,262,500
53,345,500
79,313,050
5,980,400
831,700
85,536,000
11,928,500
320,596,950
8.934,100
2,025,000
$5,106,913,850 $496,474,900
Federal Reserve
District
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
$ 462,086,200 $
71,480,350
3,109,837,800
741,497,450
43,217,050
264,382,000
42,228,450
240,610,050
26,660,.900
128,742,850
35,661,300
224,483,250
117,081,150
481,213,450
24,811,750
117,279,450
61,608,000
17,578,700
19,468-, 500
83,293,450
86,367,700
18,446,,700
56, lèi,450'
332,525,450
9,216,100
10,959,100
$5,603,338,750 $1,223,502,850
1-1/2 PERCENT TREASURY NOTES OF SERIES A-1941
Total Cash
Total Exchange
Total
To tal
Subscriptions Subscriptions
Subscriptions Subscriptions
Received
Received
Allotted
Received
(Allotted in full)
258,078,400 $ 1,541,000
1,652,370,300
36,436,800
1,609,200
175,841,700
3,475,000
219,259,600
106,698,600
151,500
121,300
103,736,600
319,126,600
2,436,100
377,900
90,314,300
161,000
40,585,600
63,556,800
155,700
18,000
64,123,300
260,272,500
1,510,000
500,000
85,000
$3,354,464,300 $48,078,500
$
$ 259,619,400$
50,656,500
335,820,000
1,688,807,100
34,008,800
177,450,900
44,495,300
222,734,600
20,897,600
106,850,100
20,799,900
103,857,900
63,872,900
321,562,700
19,129,300
90,692,200
8,529,400
40,746,600
13,778,400
63,712,500
15,325,000
64,141,300
49,216,000
261,782,500
175,000
585,000
$676,704,100
$3,402,542,800
interest from the date the tax was due.
No credit will he
allowed unless the taxpayer submits to the Commissioner certain
documentary evidence, concerning which the return form will
contain full instructions.
Returns and Payment of Tax
As the first return required under Title IX of the Act
will be for the calendar year 1936 and is not due to be filed
until January 31, 1937, employers will have ample opportunity
to become acquainted with the requirements of the law and
regulations and to secure any advice or assistance necessary
to enable them to make a proper return.
The tax is due and
payable, without assessment or notice of* demand, at the same
time the return is due to be filed; that is, on or before
January 31 next following the close of each calendar year.
At the option of the taxpayer, the tax may be paid in four
equal installments instead of in a single payment, in which
event the installments must be paid on or before January 31,
April 30, July 31 and October 31, respectively.
required to be made on Form 940.
Returns are
Such forms are now in course
of preparation and will be available well in advance of the
due date of the returns
8
year, paid by him into an unemployment fund under the laws of
any State, provided the Social Security Board has found such
laws to contain the provisions specified in section 903(a) of
the Social Security Act and has for the taxable year so certi
fied to the Secretary of the Treasury.
The allowance of con
tributions as credit against the tax is subject to the following
limitations:
(l) The total credit shall not in any case exceed
90 per cent of the tax against which it is applied; (2) the
contributions must have been actually paid into the State un
employment fund before the date on which the return for the
calendar year is required to be filed; that is, on or before
January 31 next following the close of the calendar year unless
the time for filing is extended; (3) the contributions must have
been paid with respect to services performed by an employee
within the United States and not excepted from the term E m
ployment 11 by the Act; and (4) the contributions must have been
paid with respect to services performed during the calendar
year covered by the return.
If, after the return is filed, a
refund is made by a State to the taxpayer of any part of his
contributions credited against the tax, the taxpayer is required
to advise the Commissioner of Internal Revenue, under oath, of
the date and amount of the refund and the reason therefor, and
to pay any tax due as a result of the refund, together with
- 7 -
purposes; and (2) its net inoome must not inure in whole or in
part to the benefit of any private shareholder or individual«
Basis and Rate of Tax
The basis of the tax is the total amount of wages payable
by an employer with respect to employment during the calendar
year, regardless of the time of actual payment*
Wages are pay
able within the meaning of the Act (l) if there is an obligation
at any time to pay wages with respect to employment during the
calendar year, or (2) if, at any time, wages are actually paid
with respect to employment during the calendar year*
It is
immaterial whether such wages are certain in amount at any
time within the calendar year, and whether the right exists
to enforce the payment of such wages at any time within the
calendar year*
The term ttwagesM means all remuneration for
employment, whether payable in money or something other than
money and the name by which such remuneration is designated
is not material.
Based on the total wages payable, the rate
of tax for the calendar year 1936 is one per cent; for the
calendar year 1937, two per cent; and for the calendar year
1938 and any subsequent calendar year, three per cent.
Credit of Contributions against Tax
The taxpayer m y credit against the tax the total amount
of contributions, with respect to employment during the taxable
-
6
-
mother for a son or daughter; and (3) by a son or daughter
under 21 years of age for the father or mother*
Under (3)
the exception continues only during the time the child is
under the age of 21*
Services performed by an employee of a
corporation, partnership, or other entity, are not excepted*
Government employees.— Services performed in the employ
of the United States, the several States, the District of
Columbia, or the Territory of Alaska or Hawaii or any polit
ical subdivision or instrumentality thereof, including every
unit or agency of Government, without distinction between
those exercising governmental functions and those exercising
proprietary functions are excepted.
Religious, charitable, scientific, literary, and edu
cational organizations and community chests.— Services per
formed in the employ of a corporation, community chest,
fund, or foundation,- organized and operated exclusively for
religious, charitable, scientific, literary, or educational
purposes, or for the prevention of cruelty to children or
animals, no part of the net earnings of which inures to the
benefit of any private shareholder or individual, are ex
cepted.
The nature of the service is immaterial, the statu
tory test being the character of the organization.
Each
organization must meet two tests: (l) It must be organized
and operated exclusively for one or more of the specified
5
laundresses, furnace men, gardeners, footmen, grooms, and
chauffeurs of automobiles for family use*
A private home is
the fixed place of abode of an individual or family.
A home
utilized primarily for the purpose of supplying board or lodging
to the public as a business enterprise ceases to be a private
home and the services above enumerated are not excepted if
performed in or about rooming or lodging houses, boarding
houses, fraternity houses, clubs, hotels, or commercial of
fices or establishments.
Service as officer or member of vessel’s crew.— Service
performed as an officer or member of the crew of a vessel on
the navigable waters of the United States; that is, such waters
as are navigable in fact and which by themselves or their con
nection with other waters form a continuous channel for com
merce with foreign countries or among the States.
A Vessel”
includes every description of watercraft or other contrivance
used as a means of transportation on water but does not include
any type of aircraft.
"Officer or member of the crew” includes
the master or officer in charge of the vessel and every in
dividual subject to his authority serving on board and contrib
uting in any way to the operation and welfare of the vessel.
Family employment.— Services performed (l) by a husband
for his wife, or by a wife for her husband; (2) by a father or
4
and it applies only for the period during which the employee
is rendering services in an excepted class*
The excepted ser
vices are as follows:
Agricultural labor.— This term includes all services per
formed (a) by an employee, on a farm, in connection with the
cultivation of the soil, the harvesting of crops, or the raising,
feeding, or management of live stock, bees, and poultry; or (b)
by an employee in connection with the processing of articles
from materials which were produced on a farm; also the packing,
packaging, transportation, or marketing of those materials or
articles.
Such services do not constitute “agricultural labor",
however, unless they are performed by an employee of the owner
or tenant of the farm on which the materials in their raw or
natural state were produced, and unless such processing, packing,
packaging, transportation, or marketing is carried on as an in
cident to ordinary farming operations as distinguished from
manufacturing or commercial operations.
The term "farm" embraces
the farm in the ordinarily accepted sense, and includes stock,
dairy, poultry, fruit, and truck farms, plantations, ranches,
ranges, and orchards*
Forestry and lumbering are not included
within the exception*
Domestic service.— Services of a household nature performed
in or about the private home of the employer, including, in gen
eral, services rendered by cooks, maids, butlers, valets,
3
and methods for accomplishing the result, he is, in general,
an independent contractor, and not an employee*
Tfilhere the re
lationship of employer and employee exists, the designation or
description of the relationship as anything other than that of
employer and employee is immaterial*
The measurement, method,
or designation of compensation is also immaterial*
An officer
of a corporation is an employee hut a director, as such, is
not*
A director may be an employee of the corporation, however,
if he performs services for the corporation other than those
required by the attendance at and participation in meetings of
the board of directors.
Generally, physicians, lawyers, dentists,
veterinarians, contractors, subcontractors, public stenographers,
auctioneers, and others who follow an independent trade, business
or profession in which they offer their services to the public,
are independent contractors and not employees.
Excepted Services
Certain services performed by employees are excepted from
the term Memployment” by the Act and are excluded for the purpose
(l) of determining whether a person employs a sufficient number
of individuals to be an employer subject to the tax, and (2) of
computing the total wages payable with respect to employment dur
ing the calendar year.
The exception attaches to the services
performed by the employee and not to the employee as an individual
2
however, unless he is engaged in the performance of services
within the United States; that is, any of the several States,
the District of Columbia, or the Territories of Alaska and
Hawaii.
To the extent that an employee performs services out
side of the United States he will not be counted for the pur
pose of determining whether the person who employs him is an
"employer” within the meaning of the Act and remuneration
payable to the employee for services performed outside of the
United States is excluded from the computation of wages upon
which his employer^ tax is based#
Even if an "employer" is
not subject to any State unemployment insurance law, he is
nevertheless subject to the tax#
Generally the relationship of employer and employee exists
when the person for whom services are performed has the right
to control and direct the individual who performs the services,
not only as to the result to be accomplished by the work but
also as to the details and means by which that result is accom
plished#
That is, an employee is subject to the will and control
of the employer not only as to what shall be done but how it shall
be done#
It is not necessary that the employer actually direct
or control the manner in which the services are performed; it is
sufficient if he has the right to do so#
If an individual is
subject to the control or direction of another merely as to the
result to be accomplished by the work and not as to the means
TREASURY DEPARTMENT
Washington, D. C.
r
ft
f tp
For Release
1
EXCISE TAX ON EMPLOYERS OF EIGHT OR MORE INDIVIDUALS
Announcement was made today "by Commissioner of Internal Revenue
Guy T. Helvering of the release of Regulations 90, relating to the
excise tax imposed under Title IX of the Social Security Act on em
ployers of eight or more individuals.
These regulations will he of
interest to all employers and employees.
Commencing with the calendar year 1936, every person who
employs eight or more individuals on a total of 20 or more cal
endar days during a calendar year, each such day being in a
different calendar week, is, with certain exceptions, an employer
subject to the tax imposed for each such calendar year by Title IX
of the Social Security Act.
The weeks in each of which occurs a
day on which eight or more individuals are employed need not be
consecutive nor is it necessary that the individuals so employed
be the same individuals nor that they be employed at the same
moment of time or for any particular length of time or on any
particular basis of compensation.
It is sufficient if the total
number of individuals employed during the 24 hours of a calendar
day is eight or more, regardless of the period of service during
that day or the basis of compensation.
No employee is counted,
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday, March 131 1336._________
3-12-36
-
Press Service
No.' 7-2
EXCISE TAX ON EMPLOYERS OF EIGHT OR MORE INDIVIDUALS
Announcement was made today hy Commissioner of Internal Revenue
Guy T. Helvering of the release of Regulations 90, relating to the
excise tax imposed under Title IX of the Social Security Act on em
ployers of eight or more individuals.
These regulations will be of
interest to all employers and employees.
Commencing with the calendar year 1936, every person who
employs eight or more individuals on a total of 20 or more cal
endar days during a calendar year, each such day being in a
different calendar week, is, with certain exceptions, an employer
subject to the tax imposed for each such calendar year by Title IX
of the Social. Security Act.
The weeks in each of which occurs a
day on which eight or more individuals are.employed need not be
consecutive nor is it necessary that the individuals so employed
be the same individuals nor that they be employed at the same
moment of time or for any particular length of time or on any
particular basis of compensation.
It is sufficient if the total
number of individuals employed during the 24 hours of a calendar
day is eight or more, regardless- of the period of service during
that day or the ba,sis of compensation.
No employee is counted,
however, unless he is engaged in the performance of services
within the United States; that is, any of the several States,
the District of Columbia, or the Territories of .Alaska and
Hawaii,
To the extent that an employee performs services out
side of the United States he will not he counted for the pur
pose of determining whether the person who employs him is an
"employer" within the meaning of the Act and remuneration
payable to the employee for services performed outside of the
United States is excluded from the computation of wages upon
which his employer’s tax is based.
Even if an "employer" is
not subject to any State unemployment insurance law, he is
nevertheless subject to the tax.
Generally the relationship of employer and employee exists
when the person for whom services are performed has the right
to control and direct the individual who performs the services,
not only as to the result to be accomplished by the work but
also as to the details and means by which that result is accom
plished.
That is-, an employee is subject to the will and control
of the employer not only as to what shall be done but how it shall
be done.
It is not necessary that the employer actually direct
or control the manner in which the services are performed; it is
sufficient if he has the right to do so.
If an individual is
subject to the control or direction of another merely as to the
result to be accomplished by the work and not as to the means
-3and methods for accomplishing the result, he is, in general,
an independent contractor, and not an employee.
Where the re
lationship of employer and employee exists, the designation or
description of the relationship as anything other than that of
employer and employee is immaterial.
The measurement, method,
or designation of compensation is also immaterial.
An officer
of a corporation is an employee hut a director, as such, is
not.
A director may he an employee of the corporation, however,
if he performs services for the corporation other than those
required hy the attendance at and participation in meetings of
the hoard of directors.
Generally, physicians, lawyers, dentists,
veterinarians, contractors, subcontractors, public stenographers,
auctioneers, and others who follow an independent trade, business
or profession in which they offer their services to the public,
are independent contractors and not employees.
Excepted Services
Certain services performed by employees are excepted from
the term "employment^ by the Act and are excluded for the purpose
(l) of det ermining whether a person employs a sufficient number
of individuals to be an employer subject to the tax, and (2) of
computing the total wages payable with respect to employment dur
ing the calendar year.
The exception attaches to the services
performed by the employee and not to the employee as an individual
and it applies only for the period during which the employee
is rendering services in an excepted class.
The excepted ser
vices are as follows:
Agricultural labor«— This term includes all services per
formed (a) by an employe®, on & farm, in connection with th®
cultivation of th® soil, tm harvesting of crops, or th® raising,
feeding, or management of live stock, boes, and poultry; or Cb)
by m employe® in connection with th© processing of articles
from materials which were produced on a farm; also the packing,
packaging, transportation, or marketing of those materials or
articles.
Such services do not constitute “agricultural labor**,
however, unless they are performed by an employe® of the ovmer
or
of the far» on which th© materials in their r m or
natural state were produced, and unless such processing, packing,
packaging,rtransportation, or marketing is carried on m mi in
cident to ordinary farming operations as distinguished from
manufacturing or commercial operations.
Tho term
embraces
the farm in the ordinarily accepted sense, and includes stock,
dairy, poultry, fruit, and truck farms, plantations, ranchest
ranges, and orchard#»
forestry and lumbering &r# not included
within the exception.
Domestic service.— Services of a'household nature performed
in or about the private home of the employer, including, in gen
eral, services rendered by cooks, maids, butlers, valets,
5
laundresses, furnace men, gardeners, footmen, grooms, and
chauffeurs of automobiles for family use,
A private home is
the fixed place of abode of an individual or family,
A home
utilized primarily for the purpose of supplying board or lodging
to the public as a business enterprise ceases to be a private
home and the services above enumerated are not excepted if
performed in or about rooming or lodging houses, boarding
houses, fraternity houses, clubs, hotels, or commercial of
fices or establishments*
Service as officer or member of vessels crew,*— Service
performed as an officer or member of the crew of a vessel oh
the navigable waters of the United States; that is, such waters
as axe navigable in fact and which by themselves or their con
nection with other waters form a continuous channel for comr*
merce with foreign countries or among the States,
A "vessel”
includes every description of watercraft or other contrivance
used as a means of transportation on water but does not include
any type of aircraft,
"Officer or member of the crew" includes
the master or officer in charge of the vessel and every in
dividual subject to his authority serving on board and contrib
uting in any way to the operation and welfare of the vessel,
Family employment*— Services performed (l) by a husband
for his wife, or by a wife for her husband; (2) by a father or
mother for a son or daughter; and (3) by a son or daughter
under 21 years of age for the father or mother.
Under (3)
the exception continues only during the time the child is
under the age of
21.
Services performed "by an, employee of a
corporation, partnership, or other entity, are not excepted.
Government employees.*— Services performed in the employ
of the United States, the several States, the District of
Columbia, or the Territory of Alaska or Hawaii or any polit
ical subdivision or instrumentality thereof, including every
unit or agency of Government, without distinction between
those exercising governmental functions and those exercising
proprietary functions are excepted.
Religious, charitable, scientific, literary, and edu
cational organizations and community chests.— Services per
formed in the employ of a corporation, community chest,
fund, or foundation, organized and operated exclusively for
religious, charitable, scientific, literary, or educational
purposes, or for the prevention of cruelty to children or
animals, no part of the net earnings of which inures to the
benefit of any private shareholder or individual, are ex
cepted.
The nature of the service is immaterial, the statu
tory test being the character of the organization.
organization must meet two tests:
Each
(1) it must be organized
and operated exclusively for one or more of the specified
purposes; and (2) its net income must not inure in whole or in
part to the benefit of any private shareholder or individual«
Basis and Rate of Tax
The basis of the tax is the total amount of wages payable
by an employer with respect to employment during the calendar
year, regardless of the time of actual payment*
Wages are pay
able within the meaning of the Act (l) if there is an obligation
at any time to pay wages with respect to employment during the
calendar year, or (2) if, at any time, wages are actually paid
with respect to employment during the calendar year«
It is
immaterial whether such wages are certain in amount at any
time within the calendar year, and whether, the right exists
to enforce the payment of such wages at any time within the
calendar year«
The term Hwages" means all remuneration for
employment, whether payable in money or something other" than
money and the name by which such remuneration is designated
is not material«
Based on the total wages payable,, the rate
of tax for the calendar year 1936 is one per cent; for the
calendar year 1937, two per cent; and for the calendar year
1938 and any subsequent calendar y e ar, three per cent«
Credit of Contributions against Tax
The taxpayer may credit against the tax the total amount
of contributions, with respect to employment during the taxable
year, paid by Mm. into an unemployment fund "under the 1« wo o f
any State., provided the Social Security Board has found such
laws to contain the provisions specified in section 903(a) of
the Social Security Act and has f or the- taxable year so certi
fied to the Secretary of the Treasury*
The allowance of con
tributions as credit against the tax is subject to the following
limitations;
(l) The total credit shall not in any case exceed
90 per cent of the tax against which, it is applied; (2) the
contributions must have boon actually paid into the State un
employment fund before the date on which the return for the
calendar year is required fc# be filed; that i#f m
or before
January 31 next following the close of the calendar year unless
the time for filing is extended; (3) the contributions must have
been paid with respect to services performed by «a employee
within the bruited ftat os and not excepted from the term ttem
ployment9 by the Act* and (i) the contributions must have been
paid with, respect to services performed during the calendar
year covered by the return#
If, after the return is filed, a
refund is made by a State be the taxpayer of any part of M s
contributions credited against the tax, the taxpayer is required
to advise the Commissioner of Internal Revenue, under oath, of
the date and amount of the refund and the reason therefor, and
to pay any tax due as a result of the refund, together with
~ 9 ~
interest from the date the tax was due,
No credit will be
allowed unless the taxpayer submits to the Commissioner certain
documentary evidence, concerning which the return form will
contain full instructions»
Returns and Payment of Tax
As the first return required under Title IX of the Act
will be for the calendar year 1936 and is not due to be filed
until January 31, 1937, employers will have ample opportunity
to become acquainted with the requirements of the law and
regulations and to secure any advice or assistance necessary
to enable them to make a proper return»
The tax is due and
payable, without assessment or notice or demand, at the same
time the return is due to be filed; that is, on or before
January 31 next following the close of each calendar year.
At the option of the taxpayer, the tax may be paid in four
equal installments instead of in a single payment, in which
event the installments must be paid on or before January 31,
April 30, July 31 and October 31, respectively»
required to be made on Form 940»
Returns are
Such forms are now in course
of preparation and will be available well in advance of the
due date of the return.
o*0oo
Z
ft
, A
As soon as it was found that Cunningham Would be unsuccessful
in his efforts to reach shore with the marooned «Mrfmen, desperate
attempts were made to launch the 19-foot motor dinghy in the boathouse
at the station, but because of the condition of the shore ice*ii|H\ras
extremely fiiffi cnl t w n r et 4tirn baafc «hma gh a tL .g*7»»
a
S&y'
I
The boat was finally launched about midnight, February 8tb*,
manned by Kelderhouse, Woods and Duhm. The dinghy was swamped with
water several times which rapidly froze on the men’s clothing and on
the boat.
hndmhifr feet^Sozen. Because of drifting ice,
extremely -poog visibility, rolling sfeas and snow, the efforts ©#H5he
to find the marooned men were defeated. Ice
under the boat forced uut-Uie drain plug which nearly caused the b
to sink. Th^ ^ ^ a r gji rjjgjgp iw > p l l o & j t f L ght^af{<i early &
Mdrning. ^ -- rea.ch the lost men in the motor life
boat. The ice hah to be dynamited before this boat could be launched
successfully. The search was then kept up until nightfall, Sunday;
February 9J*b On mSsSj/% it was impossible to get through the ice
with the life boat,
-however .Grgoa&t^fiiaagd plane frt^i^e St .Mary’s
River Patrol and a plane chartered by the Detroit Newsfsearched the
area, but were unsuccessful because of
visibility.
Them maw
The m^ee4f^tr man were located Wedrresdav dBorniny'. February 12tl
found b y 'thiw Inrntirm furnished by Brown, the survivor.
y)
'
.
*
yf
Comp£n<Jer Bennettj^inquiry further brought out 1pj*rfag± & m t^
th^T rescup^couLd not hf,m€ been made ¿nr'any\other way^^lf ^g^haaohen,
attempted», the live^6'f alivfjye^rfisherman ^ u M ’^obablyJiave been'
lOSt.
Jr
_ ._
__
TREASURY DEPARTMENT
IN T E R O F F I C E C O M M U N I C A T I O N
DATE
To
Mr. Gaston
From
Mr- CraiS
^_.Three members of the Charlevoix (Michigan) Coast Guard Station
were'^recommended for life saving medals for heroism.
fourth member,
Who died in an attempt to save the lives of two other persons, was re- commenabd foralife saving medal posthumously.
In a^x^port on a rescue attempt near Charlevoix to^thfe Gommandan
of the Coast Guabd* Admiral H. G. Hamlet, it was furtbpr^ecommended tha
the other members o£s‘<he crew of the station be copmehded for devotion t w
duty under hazardous circiSBi&t^nces. The recoipieh<iations were approved
today, together with the finding§^o^4i^e Bgxfa of Investigation convened
to inquire into the loss of life withii^fcfi®*^icope of Coast Guard operations **
1956. The record of proceedings,,«,*^! the investigation held by District/
Commander Ward W. Bennett was sprtfto Captain LeRoy^eiqburg, Commander /
of the Chicago Division, who^in turn, requested that thel^e^mendationb
be acted upon.
/
The Coast^Gdardsman who lost his life in the rescue attempt w^s
,„Earl Cunninghapf^oatswain's Mate, Second Class. Those recommended for
medals ■'weTjMflSoatswain-1s Mate, First Class, George Kelderhouse, (In charge
Of the ^fe^CiOB^ MotOX MftClllal fft*a Mata, Q n a n f c i T i f l »T.fWrr William
P. Woods.
It
8th that
aoTOTtiii p i
...
a^T-pf, Qn ice, whi.r»h bad, broken away from shore near
Charlsvoix. Duhm volunteered to go to their rescue in a skifi^which had
been-jaarip. ri^iuaËeagM^oh^ameygency. He took off three of the five- meny
which was all the skiff would accommodate. A heavy sea was rolling and
the floating ice drifted farther from shore. When Cunningham attempted
to complete the rescue he succeeded in reaching the ice and getting the
remaining men into the surf boat. Heavy seas, together with a snowstorm,
which made visibility practically zero, made his attempt to reach shore
unsuccessful. The men floated helplessly until the next day about noon
when Cunningham died from exposure. One of the occupants of the boat
finally succeeded in reaching the floating ice once more, where he pulled
his companion,then practically•imconpcious>out of the boat t£the_ice. ^
During the second night, .mBgarf& Sf o ü nnir died, and the
Q* £ ^ v^ t'~'had his feet frozen,
f
^
Q ° the floating ice
^.itiiwirTTiu.] came into contact with other ice extending from shore Glay loflTfir
Brown, n olvrlifin» was able to crawl to the shore where he was found by
Indians who treatedLhis frozen feet. T W n i v j i i / m Who diefl m ? Cl £ M e _
V
As the result of approval today by Admiral H . G.
Hamlet^ C t m i i a M a ^ ^ t t e u n i t ed States Coast Guard, of finding of
f
\
\
if
I
jr
$ Board\pf Ihvestigation, three members of the Charlevoix^ Mi caí
/
\
i
¿ ir
>.
W
if
JCoast GuarS. Station, will receive life saving medels/^for heroilm.
I
\
/
|
,
A posthumous Bledal was awarded to a fourth man ^ m h .o perished cjmring thj
5*ebruary 8-12,
II
ice rescue operations in the vicinity of Charlevoix,» and the lUdal
V
¿
if
will be received by hisNwidov . Other jaBmbers of the crew v^ere
commended for devotion toNhity undendiazardous circumstances. ]\
The Coast ^^rdsjj^. who lost his life was EarAY
r T C ^ d h h e r s awarded medals were
/ \
Cunningham, Boatswain’s M^e^^ffect^^tTTas^lrN^hBXSxxExmxiiSEHdCKi
I
I
George KelderJ^use, Boatswains Mate, first class I inf
/
..
|
/
charge of the stationy"1iaB^®a^M3rs3tfflEili^S^^E Qiienjbin R. Duhm| i^fctor
■
1j
-1|
'
*
■
¡11
1
'
machinist’s mate,^nd William P. Woods, surfman.
/
The Board of Investigation was convened to inquire
| into responsibility for the loss of tw^o lives during the resfcue
i
I
/
/
r
—
\operations. -»-he other man lost was Claude Be- rdsley, one of
. ..11M
yS
five ftslimeTTn^i^~a&^i££~~a^
Oistriet Commander Ward W, Bennett presided at the
hearing. xhe report was reviewed by Captain Be ^oy Reinburg,
commander of the Chicago division, before transfer to Washington officj
ihe rescue efforts of ftaxxi the Coast Guard began
shortly after 2130 p. m . , February 8, when five fishermen w;ere
observed adrift on iajce which had broken awray from shore near
Charlevoix
I
All members of the crew of the Charlevoix
(Mich.) Coast Guard Station will be commended "for
their faithful and loyal devotion to duty under
circumstances which called for the highest type of
courage,M it was announced at Coast Guard headquarters
today.
The action was taken as the result of
review of the findings of a Board of Investigation, named
to inquire into ice rescue operations in the vicinity
of Charlevoix, February 8-12. In the course of these
operations four
fishermen, of a group of five on
drifting ice were xsxxsistx restored to safety. Two
p e r s o n ÿ a r l Cunningham, Boatswain’s Mate, Second
Class, of the Charlevoix Coast Guard Station, and
Claude Beardsley, the fifth fishermen, lost their lives.
Capt* L. C. Covell, Acting Commandant, who
reviewed the proceedings of the Board of Investigation,
also announced that the attention of the Committee on th
Award of Life-Saving Medals will be called to the
Charlevoix case, with a view toward securing a posthumou
award of a life-saving medal to
Cunningham, and
also the award of medals to George Kelderhouse,
boatswain’s mate, first class (L), Quentin R. Duhm,
motor machinist’s mate, first class (L) and Killiam P«
Wood s , surfman.
C
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORE!EG- NEWSPAPERS,
Sunday, March 15, 1936.________
3-rl2-36
Press Service
Ho. 7-3
All memhers of the crew of the Charlevoix (Mich.) Coast Guard Station will
he commended ’’for their faithful and loyal devotion to duty under circumstances
which called for the highest type of courage”, it was announced at Coast Guard
headquarters today.
The action was taken as the result of review of the findings of a Board of
Investigation, named to inquire into ice rescue operations in the vicinity of
Charlevoix, February 8-12.
In the course of these operations four fishermen,
of a group of five on drifting ice were restored to safety.
Two persons, Earl
Cunningham, Boatswain’s Mate, Second Class, of the Charlevoix Coast Guard station,
and Claude Beardsley, the fifth fisherman, lost their lives.
Capt. L.C. Covell, Acting Commandant, who reviewed the proceedings of the
Board of Investigation, also announced that the attention of the Committee on the
Award of Life-Saving Medals will he called to the Charlevoix case, with a view
toward securing a posthumous award of a life-saving medal to Cunningham, and also
the award of medals to George K0lderhouse,'boatswain’s mate, first class (L),
Quentin R. Duhm, motor machinist’s mate, first class (L) end William P. Woods,
surfman.
District Commander Ward W. Bennett presided !
at the hearing.
The report was
reviewed by Captain LeRoy Reinburg, Commander of the Chicago division, before
transfer to Washington office.
The rescue efforts of the Coast Guard began shortly after 2:30 p.m., February
8, when five fishermen were observed adrift on ice which had broken away from shor
near Charlevoix,
Duhm volunteered to go to their rescue in a skiff.
three of the men, which was all the skiff would accomodate.
ing and the floating ice drifted farther from shore.
He took off
A heavy sea was roll
When Cunningham volunteered
to complete the rescue he succeeded in reaching the ice and getting the remaining
-2«
men into the surf boat.
Heavy seas, together with a snowstorm, which made visibi
lity practically zero, made his attempt to reach shore unsuccessful.
The men
floated helplessly until the next day about noon when Cunningham died from exposure.
One of the occupants of the boat finally succeeded in reaching the floating ice
once more, where he pulled his companion, then practically unconscious, out of the
boat to the ice.
During the second night, Beardsley died, and the surviving
fisherman, Clayton B. Brown, had his feet frozen.
Later, as the floating ice
came into contact with other ice extending from shore, Brown was able to crawl
to the shore where he was found by Indians who treated his frozen feet.
As soon as it was found that Cunningham would be unsuccessful in his efforts
to reach shore with the marooned fishermen, desperate attempts were made to launch
the 19-foot motor dinghy in the boathouse at the station, but because of the condi
tion of the shore ice this was extremely difficult.
The boat was finally launched
about midnight, February 8, manned by Kelderhouse, Woods and Duhm.
The dinghy was
swamped with water several times Y/hich rapidly froze on the men’s clothing and on
the boat.
Woods’ feet were frozen.
Because of drifting ice, extremelv low visi
bility, rolling seas and snow, efforts to find the marooned men were defeated.
Ice under the boat forced out the drain plug which nearly caused the boat to sink.
The search continued all night, February 9, and early the next morning.
were then made to reach the lost men in the motor life boat.
dynamited before this boat could be launched successfully.
kept up until nightfall, February 9.
through the ice ’
with the life boat.
Attempts
The ice had to be
The search Y/as then
On February 10, it v/as impossible to get
A plarPfrom the St. Mary’s River Po.trol and a
piaiB chartered by the Detroit Nev^s both searched the are?, but were unsuccessful
because of low visibility.
The bodies were located February 12, by direction furnished by Brown, the
survivor.
ooOoo
IMPORTS OF COCONUT OIL AND SUGARS FROM PHILIPPINES
UNDER QUOTA PROVISIONS OF PHILIPPINE INDEPENDENCE ACT
During the Period January 1 to February 29, 1936
(Preliminary Figures)
:
•
:
S u g a r
Raw
Refined
:
(Pounds) :
(Pounds)
Customs
District
: Coconut Oil
: (Pounds)
Los Angeles
3,350,517
Maryland
1,041,59?
-
Massachusetts
6,196,696
-
-
New Orleans
15,231,882
•
14,134,964
New York
29,528,674
-
10,042,187
Philadelphia
1,007,968
-
77,280,603
San Francisco
5,975,847
2,774,700
37,976,584
1,200,272
-
62,333,181
5,774,972
157,309,757
13.9$
5.2$
8.8$
Washington
Total
Per cent of quota
-
1,800,000
17,875,419
(Prepared by Division of Statistics and Research, Bureau of Customs)
IMPORTS OF COMMODITIES UNDER QUOTA PROVISIONS OF
CANADIAN TRADE AGREEMENT
During the Period January 1 to February 29, 1936
(Preliminary Figures)
Custom
District
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Sup.
Los Angeles
Maine A N* H.
Maryland
Michigan
Minnesota
Montana
New York
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total
FROM MEXICO
Arizona
XI Paso
San Antonio
: Sawed Timber and Lumber - Bd. Ft.
• Douglas ; Western :
Total
*
W*—
L_ Hemlock •
-
-
87,438
-
-
2,006,827
676,783
114,908
(a)
-
.
-
87,438
390,373
33,992
-
(a)
-
991,098
-
• Cattle 700
1 Cattle
e
Under
179
2
Pound8 or
e
•
Pounds
e
;
Over
0
(Head)
: (Head)
e
-
-
-
67
-
70
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,906
31,499
-
-
\
--
-
1,361,294
99,948
1,417,202
4,283,219
1, 390,971
6,722,907
-
•
-
•
-
-
-
-
4,704
873
4,865
48
99
671
5,651
44
-
18
33
22
10
22
•
~
-
4,906
31,499
_
2
-
m
mm
1,729
-
2,397,200
710,375
114,908
1,048,721
951,058
-
j Dairy Cows •
• 700 Pounds :
s
Or Over : Cream
: (Head)
[Gal.)
-
119
1,913
17,128
191
6
6
1,402
2,416
980
13
-
181
mm
m
-
1
White or
Irish Seed
Potatoes
(Pounds)
mm
m
mm
mm
-
mm
14
mm
-
•
mm
•
•
mm
-
mm
m
-
1
mm
-
m
•
m
•
m
mm
69
231
240
472
-
169
mm
-
997 ,920
40 ,000
270
1,489 ,610
.
-
891 ,690
m
a.
m
mm
-
-
Total
162
169
4,796
4,283,219
1,390,971
2,079
GRAND TOTAL
#,782,907
641
21,926
270
ee
14.1#
Per cent of quota
8.7f
4*
3*2#
(a) Class Undetermined.
(Prepared by Division of Statlstios and Research, Bureau of Customs)
1,489,610
3 .3}C
Sta
OFFICE OF THE COMMISSIONER OF CUSTOMS
March 12, 1936
TO MR. FUSSELL
(Room 289 - Treasury)
FROM MISS HENRY:
In accordance with your telephone request there are inclosed
copies of tabulations showing imports of commodities under quotas
from the Philippines and under the provisions of the Canadian
Trade Agreement (preliminary figures) for the period from January
1 to February 29, 1936.
Inclo sures
IMPCRYS 0? COMMODITIES UNDER QUOTA PROYISIONS OF
C à m m m tradì agreement
Bering thè Perìod January A to February 29, 1936
(Preliminary ligure»}
a
■m
Sawed Timber and Lumber
Douglas
Western
t
:f
i
*
$
:
*
$
;
87,438
:s e
4»
se
£,006,827
676,783
114,908
(a)
Ma ine H. H*
Maryland
Michigan
Minnesota
Montana
Kos York
Fhilndelphia
St. Lawrence
Yoraaont
Tirgioia
M&l>ett
Total
•
&
330,373
33,592
S*
(a)
è*
•
è»
e
4,306
31,499
'
1,361,£64
4,283,218
òe
87,438
«
-
é»
ée
e
«e
»
de
56,948
1,390,971
«
4,704
873
4,865
1,726
£,357,200
710,375
114,908
1,048,721
•
se
-49*
*
*►
•
e»
70
se
*
*
m
■m
m
4,506
31,499
•
1,417,202
6,722,907
48
99
671
5,651
44
*
22
10
22
18
33
•
•
1,913
-4
119
17,128
Whit© or
Irlah Seed
Fotatoes
{Pouads}
44
se
-
♦
44
•-
1
13
'4 4
•
«ft
se
*
14
m
»
67
951,068
*
fe)
44
»
*
951,058
-
•
S
t
Mi
-
xt
FEGfi CANADA
àltsls
Buffalo
Chicago
Dakota
Dulath & Stsp.
Los Angeles
1
07
m m m l m Z m m m
Oepd
m
*****
e
s
J
Costosa
Distriet
Catti#
$ Catti© 700 3 Dairy Cene 1
1
B&* Ft* j Cader 175) Posado or
700 Pouads !
Total
Posada
Over
Or Over
Cree»
llOMULi
f"
«
■&
181
44
-se
44
-ee
«4
;4 4
44
-
«4
•
1
e»
-se
44
se
se
59
228.
se
240
se
•
472
ve
44
270
851,690
*
44
ee
597,920
40,000
1,489,610
f r o m melico
'Arinosi
H Paso
San Astemio
Total
4,283,215
GRAND TOTAL
Por cent of <jaota
00
-
r
è»
C
"
"
«e
’
se
e»
«e
»
1,390,971
**
m
6,722,907
2*7$
161
JPss\
6
162
2,075
4$
Ut*
1,402
2,416
980
4,798
21,926
u
.
i
*
se-
ee
se-
m
a*
Sk
»
-
169
169
641
3.S
mt
270
T'
ri1 n'"n" 'JTrT 'rrcnrr" i"jrim:■rii''i,,,,Tt,i"':f,i
-'rr'1
'""1
.
" 1 "" M""rrirnfh"1"'"'^
(Prepared by División of Statistica and Research» Bureau of Costos»}
-
«e
1,489,610
3*3$
IMPOSTS Of COCOHOT Oil AMD SUGARS FROM PHILIPPINES
ORDER QUOTA PROVISIGiB Of PBILIFPIHI INDEPEMDEiiCE ACT
During the Period January 1
to
February 89, 1936
(Preliminary Figure»}
Customs
District
i
*b
s Coconut Oil i
t (Pounds)
1
s a J U L * ______
Refined
i
Raw
(Founds) J
(Pounds)
Los Angeles
3,350,51?
1,800,000
♦
Maryland
1,041,597
•
17,875,419
Massachusetts
6,196,696
-
ee
Rew Orleans
15,231,888
*
14,134,964
Rev York
29,528,674
-
10,042,187
Philadelphia
1,007,968
as
77,280,603
San Francisco
5,975,84?
8,774,700
37,976,584
S*
1,800,87®
m
62,333,181
5,774,972
157,309,757
18.9*
5.8*
0«S^£
Washington
Total
Per cent of quota
(Prepared by Division of Statistics and Research» Bureau of Customs)
RELEASE FOR SUNDAY
NEWSPAPERS^ March 15, 1936
The Bureau of Customs today announced
preliminary figures- showing imports h £ x
during the months of January and February
1936, of commodities on which quotas were provided
under terms of the
Canadian ^rade Agreement.
^he Bureau also announced preliminary
figures on imports of Qoconut oil and sugar from
the Philippine Islands, during the aame months.
Quotas for these products were established under
provisions of the Philippine Independence Act.
'
1 r’rmu-*
'nr r in
The tables including these figures
are appended
TREASURY DEPARTMENT
Washington
FOR REIS ASS, MORNING NEWSPAPERS,
Sunday, March 15, 1936,__________
3-13-36.
Press Service
No, 7-4
The Bureau of Customs today announced preliminary
figures showing imports., during the months of January
and February, 1936, of commodities on which quota.s were
provided under terms of the Canadian Trade Agreement#
The Bureau also announced preliminary figures on
imports of coconut oil and sugar from the Philippine
Islands, during the same months,
Quotas for these
products were established under provisions of the
Philippine Independence Act,
The tables including these figures are appended.
IMPORTS OF COMMODITIES UNDER QUOTA PROVISIONS OE
CANADIAN TRADE AGREE!,ENT.
Daring the Period January 1 to February 29, 193&
(Preliminary Figures)
Customs
District
Sawed Timber and Lumber - Bd. Ft.
Total
: Douglas : Piestern :
Fir
: Hemlock :
:
Cattle
Under 175
Pounds
(Head)
Cattle 700
Pounds or
Over
(Head)
Dairy Cows
White or
Irish Seed
700 Pounds
or Over : Cream : Potatoes
:(Gal.) : (pounds)
(Head)
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Dulüth & Sup.
Los Angeles
Maine & N.H.
Maryland
Michigan
Minnesota
Montana
New York
„Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total
-
S7,*+3S
2,006,827
676,735
llH,908
(a)
-
m
—
-
350,373
33,592
—
87, >+38
-
2,357,200
710,375
llU,908
1,0^8,721
(a)
951,052
-
-
~
67
70
-
-
-
951,05S
1+.70U
8 13
i+,s 65
—
1+8
99
671
5,651
■—
-
-
»
-
-
-
-
-
22
18
33
10
22
-
-
—
506
31,^99
-
1 ,361,25H
55,9^
l,Ul7,202
U,283,215
1,390,971
6,722,907
-
m
—
-
—
—
-
Total
GRAND TOTAL
¡¿,283.215
Per cent of quota
(a) Class Undetermined*
1,725
—
-
—
l+,506
31 ,>+99
FROM MEXICO
Arizona
El Paso
San Antonio
-
-
—
-
to
-
II9
1,913
17,128
151
5
6
1,1+02
2,1+16
9S0
162
U.79S
2,075
21,926
-
m
1
—
2
-
13
/•**'
m
lU
1
~
-
181
-
-
—
—
851,690
-
-
-
59
-
-
231
2l+0
-
-
-
-
1+7?
270
-
597,920
1+0,000
1 ,1+89,610
—
-
-
—
-
-
169
-
-
169
—
—
270
1 ,1+89,610
3-2$
(Prepared by Division of Statistics and Research, Bureau of Customs)
3 -J h
1,390,971
6 ,722,907
2.7$
IMPORTS OF COCONUT OIL AND SUGARS FROM PHILIPPINES
UNDER QUOTA PROVISIONS OF PHILIPPINE INDEPENDENCE ACT
During the Period January 1 to February 29, 1936
(Preliminary Figures)
Customs
District
Coconut Oil
(Pounds)
:
i
Sugar
'Raw
Refined :
* ( !Pounds *)
(Pounds)
Los Angeles
3,350,517
1,800,000
- - - - -
Maryland
1,041,597
------ -
17,875,419
Massachusetts
6,196,696
- -------
- - - m -
New Orleans
15,231,882
T 4 --
14,134,964
New York
29,528,674
- - - - -
10,042,187
Philadelphia
1,007,968
- - - - -
77,280,603
San Francisco
5,975,847
2,774,700
37,976,584
1,200,272
« h _ _ _
5,774,972
157,309,757
Washington
Total
?er cent of quota
62,333,181
13*9$
5.2$
8.8$
TREASURY DEPARTMENT
O F F IC E O F T H E S E C R E T A R Y
W ASH IN G TO N
C O M M ISSIO N E R OF
ACCOUNTS
AN D D EPO SITS
March llt 1936*
TO
m . GASTON:
During the month of February, 1936, the following
market transactions took place in Government securities for
investment accounts:
Total purchases » • • . . . * » $4,500,600
Total sales
............ .
Net purchases:
0
$4,500,600
/
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Monday, March 16, 1936*
Press Servic
No* 7-5
Net market purchases of Government securities for Treasury
investment accounts for the calendar month of Eehruary, 1936,
amounted to $4,500,600, Secretary Morgenthau announced today.
ooOoo
TREASURY DEPARTMENT
\
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 17, 1936.
Service
/
Pm s s
3/16/26
\
^
\ '
V
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts, of
273-day Treasury bills, dated March 18, 1936, and maturing
December 16, 1936, which were offered on March 13, were
opened at the Federal Reserve banka on March 16«
The total amount applied for was $129,255,000, of
which $50,025,000 was accepted. The accepted bids ranged in
price from 99.950, equivalent to a rate of shout 0.066 per
cent per annum, to 99.916, equivalent to a rate of about
0.111 percent per annum, on a bank discount basis. Only
part of the amount bid for at the latter price was accepted.
The average price of Treasury bills to be issued is 99.921
and the average rate is about 0.104 percent per annum on a
bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday» March 17, 1 9 3 6 » _____
3-16-36«
Press Service
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury bills, dated
March 18, 1936,. and maturing December 16, 1936, which were offered on March
13, were opened at the Federal Reserve banks on March 16,
The total amount applied for wan $129,255,000, of which $50,025,000
was accepted.
The accepted bids ranged in price from 99*950, equivalent
to a> ra.te of about 0*066 percent per annum, to 99*916, equivalent to a rate
of about 0*111 percent per annum, on a. bank discount basis*
the amount bid for at the latter price was accepted.
Only part of
The average price of
Trea.sury bills to be issued is 99*921 and the average rate is about 0*104
percent per annum on a bank discount basis.
ooOoo
r v v u ^ 1 ^ ^ S -L
IMPORTS OF D IS T IL L E D LIGDORS AMD TIM ES AMD D U T ItS COLLECTED THERE OH
J U U 17» 1936
t
1
DISTILLED LIODORS (Proof Oalloas):
Stook la Cuotoas Boadod Warshousos at beginning
Total I«ports (Froo and Dutiable)
Available for Consuaptloa
Eatorod into Consuaptloa (a)
*
,fr 0« G b st sa s Custody
Stook la custoas Boadod Wars*
hoasos at ond
STILL TIMES (Liquid Oalloas)t
Stook la Cuotoas Boadod Taro«
houses at beginning
Total Iaports (Froo and Dutiable)
Available for Consuaptloa
Entered late Consuaptloa (a)
j froa Curt a - Attltt4]T
Stook la Cuotoas Bonded Taro«
houses at sad
SPARKLING TIMES (Liquid Oalloas)t
Stook la Cuotoas Bonded Taro*
housos at beginning
Total Iner t s (Pro* and Dutiable)
Available for Consuaptloa
Eatorod Into Ooasuaptlon (a)
Ifpartad— *»*fH
— Cu^ta/ly
Stook In Custoas Bonded Tar*«
housos at ond
January
193<
1
*
1335
3,964,394
1 ,0 79,641
4 , 1 » , 97*
775,9«5
5,009,679
1,24^,11!
•
January
t
1935
*
Jaaaar.
ifs*
4,292,960
«JM75
1,559,754
4,943,935
<95,317
3V*44
467,229
4,750,149
501,341
49t *30
*,197,9*9
629,695
3,749,624
4,233,974
4,219,694
l.*«7.*S*
1,608,11*
1,490,660
1,766,544
*3 1 ,6 9 5
*•6,535
1,973,1*3
*07,*39
T,437
435,130
656,915
1 ,091.195
499,591
•l‘/7
457,673
1,979,333
3<9,9*7
1 *•«
1 ,6 37,0 67
1,609,119
1,757,949
2 0 1,4 6 7
'-ttm
604,390
1
270,360
*33,029
11,246
95,122
137,^16
3*5,7 1 *
2 1 ,1 4 6
346,454
244,275
20,275
‘iiiTiiiiiini—
37,«7l
300,931
69,604
(in
**3,993
*33,0*9
3*6 ,3 5 3
190,843
$ 3**56,364
251,*3<
111.106
% 3,324,492
* 2,407,923
♦ 3,071,268
459,936
416.364
*55,*9 0
121.996
604.265
904,66*
Total unties Collsotod on Liquors
total Dirt1ss Cnllselsd OR Pillion
C oaaodlti 0s
$ 3,627,306
♦ 4,200,792
I 2,799,009
1 3,990,19)
29**72,113
- 44s9ttr674
-»3^5617703
T otal Duties Col1sot*d
Per sent Cqj^ j ^ j J ^ ^ j O A U o r s
♦33r597r439
$*9, 123*456
ITTMjr“
DUTIES COLLECTED OM «
Distilled Liquors
Still Tlnos
Sparkling Tines
(a)
23*,33* 1
50,507J
¡¡if#*1! 1
*0,393
126,350,712
10?69b—
I
I
- 21*496^11 ! 1
♦26,306119) ;
If*!*
Inoludlng withdrawal* for ship supplias and dlplonatlo u n .
, — 7 (Prsparsd by the Division of Statistics and Research, Bursa« of Custoas)
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS»
Press Service
Thursday, March 19, 1936,______
No* 7 - 7
3/18/36
IMPORTS OP DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED THEREON
_______January, 1936
January
: January
:
December :
J anuary
:
1934
:
1936
:
1935
1935
:
DISTILLED LIQUORS
(Proof Gallons):
Stock in Customs
Bonded Warehouses
at beginning*..*
638,175
4,233,874
3,864,394
4,282,960
Total Imports (Pree
and dutiable)*. •
1,559,754
1,078,641
467,229
775,805
Available for Con
2,197,929
sumption.* ......
5,009,679
4,750,189
4,943,035
Entered into Con628,685
699,317
501,341
1,246,182
sumption, (a) *.. •
Stock in Customs
Bonded Warehouses
at end**........
1,567,250
4,233,874
3,748,624
4,219,698
STILL WINES
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
at beginning*...••
1,480,660
435,880
1,608,118
1,7*66,588
Total Imports (Free
and Dutiable)*.*..
656,015
231,695
497,673
206,535
Available for Cons u m p t i o n . ^ .
1,091,895
1,973,123
1,839,813
1,978,333
Entered into Con
sumption (a).....
368,827
483,501
207,838
201,467
Stock in Customs
Bonded Warehouses
608,394
at end.•••*.••...•
1,608,118
1,757,848
1,637,067
SPARKLING WINES
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
95,222
325,712
at beginning.•••.•
233,029
270,960
Total Imports (Free
137,116
37,871
21,146
and Dutiable)....
11,246
Available for Con
232,338
346,858
sumption. • ••^.....
308,831
244,275
Entered into Con50,907
20,393
69,604
surrp'tion ( a ) ...
20,275
Stock in Customs
Bonded Warehouses
233,029
180,843
326,353
at end**-*.-*:*.*•. ....
223,993
duties c o l l e c t e d o n
$3,324,482
$ 2,407,823
$3,256,964
Distilled Liquors
259,290
Still Wines
459,936
251,236
119,106
416,364
121,896
Sparkling Wines
Total Duties Collect
$ 2,789,009'
ed on Liquors
$4,200,782
$3,627,306
(a) Including withdrawals for ship supplies and diplomatic use*
$ 3,071,268
604,265
304,662
$ 3,980,195
TREASURY DEFARTMEHT
■Washington
March 23,. 1936..
^iEMORAHBUM FOR THE PRESS
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OEEICES:
(Under Executive Proclamation of December 21, 1933) as amended
u
r3
S
oP
Week ended March 20, 1936:
ph i1ad el ribia
San Francisco
Denver.......
Total for week ended Msrch 20, 1936 ..........
March 20, 1936.... .....
Total receipts
981,851.90 fine ounce
#
457,098.93
»
II
6,953.56
,r
tf
1,445,904.39.
»r
I
t
73,181,228.14
,r
......
.....
.....
.....
.....
SILVER TRANSFERRED TO UNITED STATES t
(Under Executive Proclamation of August 9, 1934)
Week ended March 20, 1936:
pbii1pde1“ifei?......... . ....
Hew Y nrk ,v.
SaTI Franei pen,,.,,.,,.,,.,,
Denver. . . . . . . . .
Hew Dt*1epne.......... .
Seattle ..................
Total for week ended March 20 , 1936,...........|P
Total receipts through March 20, 1936 ......... .....
6,046.00 fine ounc
it
n
1,481.70
n
r
t
814.00
n
n
896*35
9,238.05
112,689,504.07
it
it
RECEIPTS OF COLD BY THE MIITTS AND ASSAY OFFICES:
Hew
Secondary
Domestic
Irrroorts
Week ended March 20, 1936:
1,909* 22
$162,466*29 $
Philadelphia............... ------ .$.........
50,800* 00
Hew York .................. ________ 570,500.00 137,300.00
45,522.87 1,119,336* 57
........
6^436*69
San Francisco......... .
640,259. 08
13,415.04
Denver..................... ___ _... 57*516.64
105.17
38,158.46
25.16
Hew Orleans,
199,983.47
17,907.99
3.826,27
Seattle....
Total for week ended March 20, 1936.,$638,304.76 $414,770.65 $2,012,393.51
COLD RECEIVED BY FEDERAL RESERVE 3 AUKS AMD THE TREASURERrS PEE ICE':
(Under Secretary's Order of Decemher 28, 1933)
Cold Coin
Received "by Federal Reserve Banks:
$
9,867.64
Week ended March 1 8 . .
31,245,191.19
Received previously.........
$31,255,058.83
Total to March,18...........
Received "by Treasurer's Office
Week ended March 18.........
Received previously.........
Total to March 18...,......
HOTE*
Cold Certificates
$
306,160.00
104,920,010.00
$105,226,170.00
$
$
267,756,00
267,756.00
Cold "bars deposited with the Hew York Assay Offi ce
in the amount of $200,572.69 previously reported,
$
3,600.00
2,406,220.00
2,409,820.00
it
n
TREASURY DEPARTMENT
Washington
FOR HELIASI, MORNING NEWSPAPERS,
Tuesday, March 24» 1938»
3/28/86
Press Service
'1^%
1 2
Acting Secretary of the frtmWry Taylor announced
last evening that the tenders for $50,000,000, or there
abouts, of STlMiif Treasury bills, dated March 25, 1936,
and maturing December 23, 1936, whieh were offered on
March 20, were opened at the Federal Reserve banks on
March 23*
The total amount applied for was $147,495,000, of
shich $50,085,000 was accepted* The accepted bids
ranged in price from 99*980, equivalent to a rate of
about 0*092 percent per annum, to 99*906, equivalent
to a rate of about 0*124 percent per annum, on a bank
discount basis* Only part of the amount bid for at
the latter price was accepted* The average price of
Treasury bills to be issued is 99*911 and the average
rate is about 0*118 percent per annum on a bank discount
basis*
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 24, 1936«________
3—23—36,
Press Service
No, 7-8
Acting Secretary of the Treasury Taylor announced last evening
that the tenders for ^50,000,000, or thereabouts, of 273-day Treasury
bills, dated March 25, 1936, and maturing December 23, 1936, which
were offered on March 20, were opened a,t the Eederal Reserve Banks
on March 23*
The total amount applied for was $147,495,000, of which $50,085,000
was accepted.
The accented bids ranged in nrice from 99,930, equivalent
to a ra.te of about 0,092 percent per annum, to 99,906, equivalent to a
rate of about 0,124 percent per annum, on a. bank discount basis.
part of.the amount bid for at the latter price was.accepted.
Only
The
average price of Treasury bills to be issued is 99.911 and the^average
rate is about 0,118 percent per annum on a bank discount basis.
ooOoo
( 3)
of the Public Debt Service, where the necessary number of Veterans1^ Bonds,
each in the denomination of $50, will be made out in the name of the veteran.
Each veteran will rece&te a Government check and the number of $50 bonds
necessary to make up the full amount due him. For instance, a veteran having
an approved claim of $763.50 will receive a check for $13.50 and fifteen
$50 bonds. These bonds mature in 1945, but are payable at any time at the
for
will of the owner. They will earn 3 per cent interest for the veteran^as long
as they are held up to maturityf but no interest will be paid if they are
cashed within the first year.
Delivery of bonds and checks to the^ veterans will be made by registered
!
':/’
mail, the first mailing to be made on# June 15 of this
c(Eia.11nue
# niinftfrilsu
TlwHHlKt
am ,
n
"SaBBton 07
he Adjusffe&^Service Certificates, in settling loans nad^a^Sinst them and in
alculating the indl^ll^^^arrio'unts dAe^jtfadec8T^the Treasury Department and
he Federal Reserve Banks in^jat^Lh^^w^^me three millions of individual
checks and makii^paetrand registering more than thirty*<Aye millions of indivif
ual bojjds^renders it wwilfrwty impossible to make all payments on^^Tassal&^l^y*
be maile-TO rapidly1
/
\
The Treasury Department has received inquiries indicating the wide
\
/
\
I
's\
circulation\of a rumor that payments w^ll be delayed until late summer or
fall. This rumor has no foundation. Every effort will be made by the Treasury
Department to expedite payment.
\\
the first of the vouchers listing the names of veterans and the
amounts due to them under the act»*
the1Treasury
disbursement to Veterans beginning on June 15 and continuing until all
claims have been paid* Disbursement to veterans having residence in the
Fifth Federal Reserve District (the Richmond district) and to those whose
certificates are held at Veterans1 headquarters in Washington, will be made
direct from the Treasury Department in Washington* All others will be
hqndled by regional disbuurs
offices
tu &
of the Treasury and Federal
Reserve Banks xxok in the remaining eleven districts*
The vouchers listing payments to be made will go
various Treasury disburs
tm
first to the
sffices, where in each case a check will be xx#
written for the amount by which the payment exceeds a n amount ativiw evenly
divisible by $50. The lists will then be delivered to the Federal Reserve
Bank or, in the case of the Washington, D*C., lists, to
*
*
/
1
Press Service
FOR IMMEDIATE RELEASE
Friday, March 27, 1936,
Shipments of Adjusted Service Bonds are going forward to Federal
Reserve banks from the Treasury, Acting Secretary Taylor announced
today, in preparation for the disbursement of bonds and checks to
veterans in payment of Adjusted Service Certificates, as provided
by the Adjusted Compensation Payment Act, 1936.
V
(g
It *
î
K
.
0
- 2 -
Bank or, in the case of the Washington, D. C. lists, to the Division
of Loans and Currency of the Public Debt Service, where the necessary
number of Veterans’ Bonds, each in the denomination of $50, will be
made out in the name of the veteran.
Each veteran will receive a
Government check and the number of $50 bonds necessary to make up the
full amount due him.
For instance, a veteran having an approved claim
of $763.50 will receive a check for $13.50 and fifteen $50 bonds.
These
bonds mature in 1945, but are payable at any time at the will of the
owner.
They will earn 3 per cent interest for the veteran for as long
as they are held up to maturity, but no interest will be paid if they
are cashed within the first year.
Delivery of bonds and checks to the veterans will be made by
registered mail, the first mailing to be made on June 15 of this year*
TREASURY DEPARTMENT
Washington
Press Service
FOR IMMEDIATE RELEASE
FRiday, March 27, 1936
Nol 7-9
Shipments of Adjusted Service Bonds are going forward to
Federal Reserve Banks from the Treasury, Acting Secretary Taylor
announced today, in preparation for the disbursement of bonds and
checks to veterans in payment of Adjusted Service Certificates, as
provided by the Adjusted Compensation Payment Act, 1956«
Shipment was lgegun on receipt from the Veterans*s Adminis
tration of the first of the vouchers listing the names of veterans
and the amounts due to them under the act.
The Treasury Department has completed its arrangements for
the actual disbursement to Veterans beginning on June 15 and continu
ing until all claims have been paid.
Disbursement to veterans having
residence in the Fifth Federal Reserve District (the Richmond district)
and to those whose certificates are held at Veterans* headquarters in
Washington, will be made direct from the Treasury Department in Washing
ton.
All others will be handled by regional disbursing offices of the
Treasury and Federal Reserve Banksi in the remaining eleven districts.
The vouchers listing payments to be made will go first to the
various Treasury disbursing offices, where in each case a check ’will be
written for the amount by which the payment exceeds an amount evenly
divisible by $50.
The lists will then be delivered bo the Federal Reserve
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, March 27, 1936.
Press Service
No. 7-9
Shipments of Adjusted Service Ronds are going forward to Federal
Reserve hanks from the Treasury, Acting Secretary Taylor announced today,
in preparation for the disbursement of bonds and checks to veterans in
payment of Adjusted Service Certificates, as provided by the Adjusted
Compensation Payment Act, 1936.
Shipment was begun on receipt from the Veterans1 Administration
of the first of the vouchers listing the names of veterans and the amounts
due to them under the act.
The Treasury Department has completed its arrangements for the actual
disbursement to veterans beginning on June 15 and continuing until all claims
have been paid.
Disbursement to veterans having residence in the Fifth
Federal Reserve District (the Richmond district) and to those whose certifi
cates are held at Veterans’ headquarters in Washington, will be made direct
from the Treasury Department in Washington.
All others will be handled by
regional disbursing offices of the Treasury and Federal Reserve Banks in
the remaining eleven districts.
The vouchers listing payments to be made will go first to the various
Treasury disbursing offices, where in each case a check will be written for
the amount by which the payment exceeds an amount evenly divisible by $50.
The lists will then be delivered to the Federal Reserve Bank or, in the
case of the Washington, D.C. lists, to the Division of Loans and Currency '
of the Public Debt Service, where the necessary number of Veterans’ Bonds,
2
each in the denomination of $50, will he made out in the name of the
veteran.
Each veteran will receive a Government check and the number
of $50 bonds necessary to make up the full amount due him.
For instance,
a veteran having an approved claim of $763.50 will receive a check for
$13.50 and fifteen $50 bonds.
These bonds mature in 1945, but are payabl
at any time at the will of the owner.
They will earn 3 percent interest
for the veteran for as long as they are held up to maturity, but no inter
est will be paid if they are cashed within the first yean.
Delivery of bonds and checks to the veterans will be made by regis
tered mail, the first nailing to be made on June 15 of this year.
TREASURY DEPARTMENT
Washington
MEMORANDUM POR THE PRESS
March 30, 1936.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OEFIOSS:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended March 27, 1936:
Philadelphia....... ...............
San Francisco.*..... ...........
Denver ..................... .......
Total for week ended March 27, 1936..
Total receipts through March 27, 1936
777,849,57 fine ounces
»
if
788,986.26
it
it
12,640.35
tr
it
1,579,476.18
it
if
74,760,704.32
SILVER TRANSFERRED TO UNITED STATES :
(Under Executive Proclamation of August 9, 1934)
Week ended March 27, 1936:
Philadelphia..... .................
New York .........................................
San Francisco ...........................
Denver......... .............................
New O r l e a n s .... '................ ,................
Seattle...........................................
Total for week ended March 27, 1936................
Total receipts through March 27, 1936....... ......
3,793.00 fine ounces
it
3,130.91
»
h
778.00
»
n
972*12
»
8,674.03
112,698,178.10
»
»
»
,f
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended March 27, 1936:
Philadelphia............. ..
New York....................
San Francisco...............
Denver....... ......
New Orleans....... .........
Seattle......... ...........
Total for week ended March 27,
Imports
Secondary
.... .$
8,036.21 $111,040.70
..... 2,615,700,00 188,300.00
588,041,45
44,088.25
.....
44,280.96
29,674,01
.....
9,994.63
40,693.99
..... .............
7,776.95
1936..$3,266,053.25 $421,573.90
New
Domestic
$
362,99
90,400.00
1,479,765.82
643,437.76
877,14
171,184.15
$2,386,027.86
GOLD RECEIVED 3Y FEDERAL RESERVE BANKS AND TEE TREASURER’S OFFICE:
(Under Secretaries Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended March 25.............
Received previously.............
Total to March 25.....
Gold Coin
20,079.54
31,255,058.83
$31,275,138.37
$
Received by Treasurer’s Office:
Week ended March 25.......... .
$ --- -- ----Received previously.............
267,756.00
Total to March 2 5 .... .......... $
267,756.00
NOTE;
Gold bars deposited with the New York Assay Office
in the amount of $200,572*69 previously reported.
Gold Certificates
$
371,450.00
105,226,170.00
$105,597,620.00
$
$
3,600.00
2,406,820.00
2,413,420.00
f m m Serriee
F§! SiiUSt, MORSISS 1®«?!»,
Mapcìt Ì.If 1986» ________
1 ^ 0
$/BQ/$$
A e tiag Secretar!'
tte i
m m In g
thè
tf it e fmmm$ fmtm amaoumcti lesi
te te e ri fe r 160,000*000,
m
thereabomte, of
ETS^iej frasaury blll% ititi Ifrti 1* 1@B6# fai ssattirlng
D ttt^b tr SOj l f i %
o p ta ti
mhteb mere offerte! om March 8 7 f w p #
ti Utt fa t e r a i Et«erre teak«
it e
m
* ? $ #
lotti amouot a p p lic o i o r wa» $ Ì s f #i4ll,OCO# of A l # i
$§0*088*000 «sì eccepiti* Staffi Ita ©me 'èli of $�O# ite
41
eccepiti o l i i remgei la palo« fa t a 9 9 *t§0 # tfilmitttl io t
rat# of aitai 0*018 protri par aanm, io 0S*§9?# equivalete
io a rata of itemi 0*1S6 paretai par m n m $ m a teak Ha*
attimi Pala* Oaly pari of ite «tuli ili far ai thè lattar
prie# mas aecepted* The «Terago prie« ef Treaaury Pilla
io ha issued la 99*904 ami ite averate rata la atemi 0*126
porcelit per m&m om a tank il»commi beala*
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 31, 1936. ______
3-30-36
Press Service
No. 7-10
Acting Secretary of the Treasury Taylor announced last evening that the
tenders for $50,000,000,- or thereabouts, of 273-day Treasury bills, dated
April 1, 1936, and maturing December 30, 1936, which were offered on March
27, were opened at the Federal Reserve banks on March 30*
The to tad amount a.oplied for was $137,648,000, of which $50,028,000
was accepted.
Except for one bid of $5,000, the accepted bids ranged in
price from 99.930, equivalent to a rate of about 0.092 percent per annum,
to 99.897, equivalent to a rate of about 0,136 percent per annum, on a
bank discount basis.
was accepted.
Only part of the amount bid for at the latter price
The average price of Treasury b ills to be issued is 99.904
and the average rate is about 0.126 percent per annum on a, bank discount
b asis*
ooOoo
TREASURY DEPARTMENT
Washington
for
p||p
(( \ x 4 J b
release
1( ^ 4 ^ 0
Press Service
% March %â% 1936
^
B
No* 7 - / /
( '7vUmd j iy t ~Ut4uc4 B o )
Acting Secretary of the Treasury Taylor today)announced
A
that the Greek Government had transferred to the United States
Treasury on March 26, 1936, the sum of $152,544 representing 35#
of the semiannual interest amounting to $217,920 due May 10,
1935, and $217,920 due November 10, 1935, on the 4# loan of 1929
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday» March 31, 1936»________
3-30-36,
Press Service
No.- 7-11
Acting Secretary of the Treasury Taylor today (Monday, March 30)
announced that the Greek Government had transferred to the United States
Treasury on March 26, 1956, the sum of $152,544 representing 35$ of the
semiannual interest amounting to $217,920 due May 10, 1935, and $217,920
due November 10, 1935, on the 4$ loan of 1929,
ooOoo
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
____
MARCH 1036
Date of
Failure:
Receiverships j
$
Total
Disbursements
including
Offsets allowed!
Per Cent
total
Retarne
to all
Creditorà:
Per Cent
Dividends
Paid
Unsecured
Depositors:
90,535*00
139,892*00
77,660*00
128,650*00
983,575*00
66*62
59*46
26*33
82*67
74*37
21*5
52.07
48*52
69*78
63*337
First National Bank, Grass Range, Montana
First National Bank, Titonka, Iowa
First National Bank, Roland, Iowa
Labor National Bank of Montana at Three Forks, Mont*
Commercial National Bank, Statesville, N. Carolina
7-3-30
12-30-30
11-29-30
9-19-51
4-19-28
First National Bank, George, Iowa
Macksburg National Bank, Maeksburg, Iowa 1/
Security National Bank, Milford, Iowa
Carolina National Bank, Darlington, S* C.
First National Bank, Richland Center, Wisconsin
1-4-33
12-22-31
5-11-31
11-2-28
11-26-28
184,147*00
20,729.00
138,501.00
501,917*00
373,435*00
95*38
100*
65*16
66*95
43*01
93.417
52*2359
55*42
45«
35*873
farmers National Bank, Howe, Texas
Griggsville National Bank, Griggsvllle, Illinois
First National Bank, Ackley, Iowa
Mobile National Bank, Mobile,Alabama
1/
Pecan Gap National Bank, Pecan Gap, Texas
10—8—30
1-26-32
8-10-32
5—8*34
12-26-30
56,119*00
256,275*00
328,066*00
422,447*00
59,649*00
62*58
104*16
69*09
86*25
52*32
46*7
105*9
60*53
22%110837
48*32
11
Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation«
Page 4
The Mobile National Bank of Mobile, Alabama, in receivership March 8,
1934 , the liabilities of the institution having theretofore been assumed by
another bank.
The receiver was appointed for the purpose of collecting an
assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated
$4-22,447,00, which represented 86,25 per cent of total liabilities.
The Pecan Gap National Bank of Pecan Gap, Texas, in receivership Decem
ber 26, 1930; disbursements, including offsets allowed, to depositors and
other creditors aggregated $59*649*00, which represented 52.32 per cent of
total liabilities. Unsecured depositors received dividends amounting to
48.32 per cent of their claims.
Dividend payments during March, 1936, by all receivers of insolvent na
tional banks to the creditors of all active receiverships aggregated $6,514,893*00*
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $716,336,852,00.
Page 3
The Carolina National Bank of Darlington, South Carolina, in receivership
November 2, 1928; disbursements, including offsets allowed, to depositors and
other creditors aggregated $501,917.00, which represented 66.95 per cent of to
tal liabilities. Unsecured depositors received dividends amounting to 4-5 per
cent of their claims.
The First National Bank of Richland Center, Wisconsin, in receivership
'4'%'
November 26 , 1928; disbursements, including offsets allowed, to depositors and
other creditors aggregated $373>4-35*00, which represented 4-3*01 per cent of to
tal liabilities. Unsecured depositors received dividends amounting to 35*873
per cent of their claims.
The Farmers National Bank of Howe, Texas, in receivership October 8, 1930;
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $56,119.00, which represented 62.58per cent of total liabilities. Un
secured depositors received dividends amounting to 4-6.7 per cent of their claims.
The Griggsville National Bank of Griggsville, Illinois, in receivership
January 26, 1932; disbursements, including offsets allowed, to depositors and
other creditors aggregated $256,275*00, which represented 104.16 per cent of to
tal liabilities. Unsecured depositors received dividends amounting to 100 per
cent of their claims and an additional interest dividend amounting to 5*9 per
cent.
The First National Bank of Ackley, Iowa, in receivership August 10, 1932;
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $328,066.00, which represented 69.09 per cent of total liabilities. Un
secured depositors received dividends amounting to 60.53 per cent of their
claims
-
2
-
The Labor National Bank of Montana at Three Forks, Montana, in receivership
September 19, 1931$ disbursements, including offsets allowed, to depositors and
other creditors aggregated $128,650*00, which represented 82*67 per cent of total
liabilities* Unsecured depositors received dividends amounting to 69.78 per cent
of their claims.
The Commercial National Bank of Statesville, North Carolina, in receiver
ship April 19, 1928$ disbursements, including offsets allowed, to depositors and
other creditors aggregated $983,575.00, which represented 74-.37 per cent of total
liabilities. Unsecured depositors received dividends amounting to 63*337 per cent
of their claims.
The First National Bank of George, Iowa, in receivership January 4, 1933$
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $184-,14-7.00, which represented 95.38 per cent of total liabilities. Un
secured depositors received dividends amounting to 93*4-17 per cent of their claims.
The Macksburg National Bank of Macksburg, Iowa, in receivership December 22,
1931, the liabilities of the institution having theretofore been assumed by
another bank. The receiver was appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold. Disburse
ments during receivership, including offsets allowed, aggregated $20,729.00, which
represented 100 per cent of total liabilities.
The Security National Bank of Milford, Iowa, in receivership May 11, 1931$
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $138,501.00, which represented 65.16 per cent of total liabilities. Un
secured depositors received dividends amounting to 55*4-2 per cent of their
claims
TREASURY DEPARTMENT
Washington
FOR RELEASE, MOFWTWfl
ivtgot.
q p a p t
?-p «
Press Service
7
'/
The Comptroller of the Currency, J. F. T. 0*Connor, today announced the
completion of the liquidation of 15 receiverships during March, 1936, making
a total of 363 receiverships finally closed or restored to solvency since the
so-called banking holiday of March, 1933»
Total disbursements, including off
sets allowed, to depositors and other creditors of these 363 institutions, ex
clusive of the 42 receiverships restored to solvency, aggregated $101,872,410#
or an average return of 74»91 per cent of total liabilities, while unsecured
depositors received dividends amounting to an average of 59*88 per cent of
their claims*
The First National Bank of Grass Range, Montana, in receivership July 9#
1930; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $90,535*00, which represented 66.62 per cent of total liabili
ties. Unsecured depositors received dividends amounting to 21.5 per cent of
their claims.
The First National Bank of Titonka, Iowa, in receivership December 30,
1930; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $139*892.00, which represented 59*46 per cent of total liabili
ties. Unsecured depositors received dividends amounting to 52.07 per cent of
their claims.
The First National Bank of Roland, Iowa, in receivership November 29*
1930$ disbursements, including offsets allowed, to depositors and other credi
tors aggregated $77,660.00, which represented 26.33 per cent of total liabili
ties. Unsecured depositors received dividends amounting to 48.52 per cent of
their claims
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday« April 6, 1936,__________
4-3-36.
Press Service
No, 7-12
The Comptroller of the Currency, J.F.T. O ’Connor, today announced the completion
of the liquidation of 15 receiverships during March, 1936, making a total of 363
receiverships finally closed or restored to solvency since the so-called banicing
holidajr of March, 1S33.
Total disbursements, including offsets allowed, to deposit
ors and other eredi torsoof these 363 institutions, exclusive of the 42 receiverships
restored to solvency, aggregated $101,872,410, or an average return of 74,91 percent
of total liabilities, while unsecured depositors received dividends amounting to an
average of 59.88 percent of their claims.
The First National Bank of Grass Range, Montana, in receivership July 9, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $90,535.00, which represented 66.62 percent of total liabilities.
Unsecured
depositors received dividends amounting to 21.5 percent of their claims.
The First National Bank of Titonka, Iowa, in receivership December 30, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $139,892.00, which represented 59.46 percent of total liabilities.
Unsecured
depositors received dividends amounting to 52.07 percent of their claims.
The First National Bank of Roland, Iowa, in receivership November 29, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $77,660.00, which represented 26.33 percent of total liabilities.
Unsecured
depositors received dividends amounting to 48.52 percent of their claims.
The Labor National Bank of Montana at Three Forks, Montana, in receivership
September 19, 1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated $128,650.00, which represented 82.67 percent of total liabili
ties.
claims.
Unsecured depositors received dividends amounting to 69.78 percent of their
The Commercial National Bank of Statesville, North Carolina, in receivership
April IS, 1923; disbursements, including offsets allowed, to depositors and other
creditors aggregated $983,575.00, which represented 74.37 percent of total liabili
ties.
Unsecured depositors received dividends amounting to 63.337 percent of their
claims.
The First National Bank of George, Iowa, in receivership January 4, 1933;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $184,147.00, v/hich represented 95.38 percent of total liabilities.
Unsecured
depositors received dividends amounting to 93.417 percent of their claims.
The Macksburg National Bank of Macksburg, Iowa, in receivership December 22,
1931, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assaessment against
the stockholders to cover a deficiency in the assets sold,
Disbursements during
receivership, including offsets allowed, aggregated $20,729.00, which represented
100 percent of total liabilities.
The Security National Bank of Milford, Iowa, in receivership May 11, 1931; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$138,501.00, which represented 65.16 percent of total liabilities.
Unsecured
depositors received dividends amounting to 55.42 percent of their claims.
The Carolina National Bank of Darlington, South Carolina, in receivership
November 2, 1928; disbursements, including offsets allowed, to depositors and othep
creditors aggregated $501,917.00, virhich represented 66.95 percent of total liabili
ties,
Unsecured depositors received dividends amounting to 45 percent of their claiThe First National Bank of Bichland Center, Wisconsin, in receivership November
26, 1928; disbursements, including offsets allovtfed, to depositors and other credit°rs aggregated $373,435.00, which represented 43.01 percent of total liabilities.
Unsecured depositors received dividends amounting to 35.873 percent of their claims.
The Farmers National Bank of Howe* Texas, in receivership October 8, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $56,119.00, which represented 62.58 percent of total liabilities.
Unsecured
depositors received dividends amounting to 46.7 percent of their claims.
The G-riggsville National Bank-of Griggsville, Illinois, in receivership January
26, 1932; disbursements, including offsets allowed, to depositors and other credit
ors aggregated $256,275.00, which represented 104.16 percent of'total liabilities.
Unsecured depositors received dividends amounting to 100 per cent of their claims
and an additional interest dividend amounting to 5.9 percent.
The First National Bank of Ackley, Iowa, in receivership August 10, 1932;dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$328,066.00, which represented *69.09 percent of total liabilities.
Unsecured
depositors received dividends amounting to 60.53 percent of their claims.
The Mobile National Bank of Mobile, Alabama, in receivership March 8, 1934, the
liabilities of the institution having theretofore been assumed by another bank.
The receiver was appointed for the purpose of collecting an assessment against the
stockholders to cover a deficiency in the assets sold.
Disbursements during
receivership, including offsets allowed, aggregated $422,447.00, which represented
86.25 percent of total liabilities.
The Pecan (Jap National Bank of Pecan Gap, Texas, in receivership December 26,
1S30; disbursements, including offsets allowed, to depositors and other creditors
aggregated $59,649,00, which represented 52.32 percent of total liabilities. ? .
Unsecured depositors received dividends amounting to 48.32 percent of their claims,
Dividend payments during March, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $6,514,893.00.
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $716,336,852.00,
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OE
_________MARCH 1936_________
Date of
Failure:
Receiverships:
First National Bank, Grass Range, Montana
First National Bank, Titonka, Iowa
First National Bank, Roland, Iowa
Labor National Bank of Montana at Three Forks, Mont.
Commercial National Bank, Statesville, N. Carolina
7-9-30
12-30-30
11- 29-30
9- 19-31
U- 19-28
First National Bank, George, Iowa
wracksburg National Bank, Macksburg, Iowa X f
Security National Bank, Milford, Iowa
Carolina National Bank, Darlington, S. C.
First National Bank, Richland Center, Wisconsin
1-4-33
12- 22-31
5- 11-31
Farmers National Bank, Howe, Texas
Griggsville National Bank,. Griggsville, Illinois
First National Bank, Ackley, Iowa
Mobile National Bank, Mobile, Alabama 1/
Pecan Gap National Bank, pecan Gap, Texas
10- 8-30
1-26-32
l/
11-2-28
11-26-28
8-10-32
3-8-34
12- 26-30
Total
Disbursements
including
Offsets allowed:
$
90,535-00
139,892.00
77,660.00
128,650.00
983,575-00
ISU.1U 7.00
20,729.00
138,501.00
501,917.00
373,435-00
56,119.00
256,275-00
328,066.00
U22,UU7.00
59,6U9.00
Per Cent
total
Returns
to all
Creditors:
66.62
59.U 6
Per Cent
Dividends
Paid
Unsecured
Depositors:
26-33
82.67
21.5
52.07
U8.52
69.7s
74.37
63.337
95.3s
93-417
52.2359
55-42
U5.
35-S73
100.
65.16
66.95
U3 .OI
b2.5S
IOU .16
69.09
86.25
52.32
Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation.
U6.7 105.9
60.53
22.110837
Us. 32
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
April 6, 1936.
RECEIPTS OP SILVER 3Y THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended April 3, 1936:
Philadelphia....... ..........
San Francisco............. .....
D e n v e r ..... ........ ............
Total for week ended April 3, 1936..
Total receipts through April 3, 1936
893,643.00 fine ounces
ti
3,295.06
»
tt
8,670.13
»
H
905,608.19
”
H
75,666,312.51
»
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended April 3, 1936:
Philadelphia..............
New York..........................................
San Francisco. .......... ,•; •..... I..... ........
D e n v e r ..... .....................................
7,341.00 fine ounces
it
it
6,693.00
h«
h
.4,363.00
it
it
55.00
New Orleans-......,.... ................. - - - Seattle .... .......... ........................ . ...... ~ - ~ ~
Total for week ended April 3, 1936........... ......
18,452.00
Total receipts through April 3, 1936 ........ .
112,716,630.00
RECEIPTS
OF GOLD BY THE MINTS AND ASSAY
OFFICES:
--------- ----------- ----- -----■ *
----------------- - —T
ft---------
Week ended April 3, 1936:
Imports
Philadelphia ..........I
2,622.30
New York”.........
2,102,600.00
San Francisco.......... ..........
353,341.02
Denver...........
43,437.29
New Orleans.*.,...................
- - - Seattle .....................
......
Total for week ended April 3, 1936..$2,502,000.61
Secondary
$165,761.69
153,500.00
34,803.87
43,875.96
27,737.41
11,701.02
$437,379.95
it
ti
ti
ti
New
Domestic
$
1,544.90
138,600.00
1,607,654,68
619,734.86
797,98
198,281.43
$2,566,613.85
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE;
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin__
Week ended April 1.. *........... $
14,092,80
Received previously.... ......... 31,275,138.37
Total to April 1............... $31,289,231.17
Received by Treasurer’s Office;
Week ended April 1...........
Received previously..........
Total to April 1..*.........
NOTE:
$ -- - - ~.~
267,756.00
$
267,756.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
Gold Certificates
$
233,100,00
105,597,620.00
$105,830,720.00
$
$
2,800,00
2,413,420.00
2,416,220.00
TREASURY DIPARBIKT
WASHIIOTOH
FOR RELEASE, MORRIIG NEWSPAPERS,
, April 7, 1886»______
Press Serrics
iu > ,
7-/3
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000*000, or thereabouts,
of 278-day Treasury bills, dated April 8, 1936, and matur
ing January 6, 1937, which were offered on April 8, were
opened at the Federal Reserve banks on April 6*
The total amount applied for was $201,805,000, of
which $50,196,000 was accepted* The accepted bids ranged
in price from 09*926, equivalent to a rate of about 0*098
percent per annum, to 99*910, equivalent to a rate of
about 0*119 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99*914 and the average rate is about 0*113 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, April 7, 1936. ______
4/6/36
Press Service
No, 7-13
Secretary of the Treasury Morgenthau announced last evening that
the tenders for $50,000,000, or thereabouts, of 273-da.y Treasury bills,
dated April 8, 1936, and maturing January 6, 1937, which were offered
on April 3, were opened at the Federal Reserve banks on April 6,
The total amount applied for was $201,805,000, of which $50,196,000
was accepted.
The accepted bids ranged in price from 99,926, equivalent
to a ra.te of about 0,098 percent per annum, to 99,910, equivalent to a
hate of about 0,119 percent per annum, on a bank discount basis.
Only
part of the amount bid for at the latter price was accepted, - The
average price of Treasury bills to be issued is 99,914 and the average
rate is about 0,113 percent per annum on a bank discount basis.
— oOo—
IMPORTS OF COMMODITIES UNDER CJJOTA IROYISIOIB OF
CANADIAN TRADE AGREEMENT
During the Period January 1 to luarch 28, 1936
(Preliminary figures)
Customs
District
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
IXiluth & Sup.
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Mich igan
Minnesota
Montana
New York
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total
FROM MEXICO
Arizona
El Paso
San Antonio
Total
: sawed Timber and Lunber - bd. ft.
: Douglas :
estera :
:
Fir
: hemlock :
Total
—
«
87,438
-
a.
-
3,275,521
1,036,509
1,464,184
(a)
227
-
464,536
64,825
(a)
•
-
2,984,341
3,974,267
..
87,438
-
3,740,057
1,101,334
1,464,184
1,048,721
227
6,958,608
cat tie
Under 175
Pounds
(Head)
-
3,659
-
••
84
-
85
-
-
-
-
•
•
-
«
-
—
«
•
-
-
-
-
-
»
4,506
147,329
-
—
-
4,506
147,329
•
24
77
-
: Cattle 700
: pounds or
:
over
: (Head)
-
8,492
1,615
9,185
-
49
99
-
1,059
7,931
78
262
22
18
60
-
Dairy Cows ee
700 Pounds ••
: Cream
or over
:
(Gal*)
(Head)
4
-
1
-
-
21
“'
209
-
•
320,325
227,565
90,000
m
20
-
-
: /.hits or
¡Irish seed
: Potatoes
: (Pounds)
-
-
-
me
-
-
1
-
-
-
-
WÊ
59
278
7,962,558
-
-
-
1,029
-
-
-
-
■
646,455
597,920
46,000
2,400,485
55,948
2,456,433
1
451
11,400,540
4,559,576
17,008,837
3,930
29.320L
2,416
4,030
2,984
-
mm
•
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
152
22
21
-
-
-
195
9,432
4,125
7 »9>
38,753
24.9%
11,400,540
GRAND TOTAL
Percent of quota
(a) Class undetermined.
4,559,576
-
17,008,837
6.8%
547
547
2.7%
1,075
1,075
(Prepared by Division of Statistics and Research, Bureau of Customs)
9,890,823
—
9,890,823
22.0%
IMPORTS OF COMMODITIES UNDER QJJQTA PROVISIONS OF
CANADIAN TRADE AGREEMENT
Daring the Period January 1 to March 28, 1936
(Preliminary Figures)
Customs
District
s sawed Timber and Lunbar - Bd. ft.
: Douglas : Western :
:
Fir
: Hemlock : Total
: Cattle
: Under 175
. Pounds
*
: (Bead)
■Cattle 700
Pounds or
Over
(Head)
: ■Dairy Cows •
: White or
ilrish Seed
: 700 Pounds
; or Over
: Cream : Potatoes
: (Head)
: (Gal.) : (Pounds)
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Sup.
Los Angeles
4
87,438
-
3,275,521
1,036,509
1,464,184
(a)
227
Maine & N. H.
Maryland
2,984,341
Massachusetts
Michigan
Minnesota
Montana
New York
Philadelphia
St. Lawrence
4,506
Vermont
147,329
Virginia
Washington
2,400,485
Total
11,400,540
FROM MEXICO
Arizona
El Paso
San Antonio
Total
464,536
64,825
(a)
-
87,438
-
3,740,057
1,101,334
1,464,184
1,048,721
227
-
3,659
tins
-
-
-
8,492
1,615
9,185
-
84
-
49
99
3,974,267
6,958,608
-
-
-
»
85
m
1,059
7,931
78
262
-
55,948
4,559,576
4,506
147,329
2,456,433
17,008,837
-
-
mm
-
4,559,576 17,008,837
6.8$
1
*
mm
-
-
-
21
-
mm
-
24
77
1
3,930
152
-
11,400,540
GRAND TOTAL
Percent of quota
(a) Class undetermined.
-
22
21
195
4,125
7.9$
209
20
-
-
«
-
320,325
227,565
90,000
7,962,558
646,455
597,920
46,000
9,890,823
547
1
1,029
1,075
2,418
4,030
2,984
9,432
-
-
-
-
-
-
38,753
24.9$
547
2.7$
1,075
9,890,823
22.0$
22
18
60
451
29,323.
-
59
278
-
-
(Prepared by Division of Statistics and Research, Bureau of Customs)
-
TREASURY DEPARTMENT
Washington
Kg !
’■
|® ■ l||iiSS|l|l|| ||
FOR RELEASE, MORNING- NEWSPAPERS,
SIMSAyi April 12, ,1936
4f |36
Press Servi
.
No. 1-!<S
The Treasury Department today announced
montha^j^f^ferhe-'eal Qnd'i
g T r'
,t' Y ^ ,r^
preliminary figures .^covering imports of commodities
governed by quota provisions of the Canadian trade
agreement during the period January 1 to March 28, 1936,
as shown fepaafSi on the accompanying sheet:
TREASURY
department
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Sunday, April 12, 193,6._________
4-9-36.
Press Service
No. 7-14
The Treasury Department today announced preliminary figures covering
imports of commodities governed hy quota provisions of the Canadian Trade
Agreement during the pferiod January 1 to March 28, 1936, as shown on the
accompanying sheet:
IMPORTS OF COMMODITIES UNDER QUOTA PRO vTSIONS CT
CANADIAN TRASS AGREEMENT
During the Period January 1 to March 28, 1936
(Preliminary Figures)
Customs
District
PROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Sup.
Los Angeles
Maine & H. K.
Maryland
Mas sachuse 11 s
Michigan
Minnesota
Montana
Hew York
Philadelphia
St. Lawrence
V ermont
Virginia
Washington
Sawed Timber and Lumber - Bd. ft.
Douglas ! Western :
Total
Pir
I Hemlock :
2,400,485
55,94s
11,400,540
^,559,576
17,008,837
-
-
m
-
-
-
|
11,400,840
¡+,559,576
17,008,837
6 .8$
227
2,9S4,34l
~
-
4,506
147,329
PROM MEXICO
Arizona
El Paso
San -Rntonio
Total
r
TJ
*J
nn
vs'-i
P.X
qi.
TXj
v*
x*
TD
uraiuv*.*
XU
P ercen t
(a.)
of
-
S7.U38
3,7^0,057
1,101,334
1,464,184
1,048,723.
227
6 ,950,608
4, 9O 0
147,329
2 ,¡+56,¡+33
87,438
3,275.521
1,036,509
1,464,is4
(a)
>+6i+, 536
64,325
(a)
-
3 .97^.267
-
q x io ta
Class -aadet erained.
(Prepared’
-
Cattle
Under 175
Pounds
(Head)
3,659
-
: White or
rlrish Seed
: Pounds or : 700 Pounds
t Potatoes
: Cream
Over
: or Over
:
: (Gal.) : (Pounds)
(Head)
:
(Head)
:
1 Cattle 700 : Dairy Cows
8,492
1,6l3
9,185
-
-
li
-
1
21
-
-
—
—
—
—
320,325
227,565
..
s4
85
-*
2:4
77
-
4s
99
1,059
7,931
7S
209
20
-
-
262
22
RO
JJ
1
90,000
—
-
7,962,558
9,890,823
451
278
-
1,029
-
3,930
29,321
547
1,075
152
22
21
2,418
4,030
2,984
-
•<*
-
- /'
195
4,125
7,9$
9 ,1+32
-
-
-
5U 7
1,075
-
9 ,890,823
18
60
38,753
24.9^
^^^Eassarch
mm
6u6 ,453
R07 OPQ
4b,000
2 2 . 0/0
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, April 12, 1936,_________
4-9-36.
Press Service
No. 7-14
The Treasury Department today announced preliminary figures covering
imports of commodities governed hy quota provisions of the Canadian Trade
Agreement during the jteriod January 1 to March 28, 1936, as shown on the
accompanying sheet:
11
IMPORTS OP DISTILLED LIQUORS AID VIMES AMD DUTIES COLLECTED THEREON
Fibmrii 1536
February t
February
January t
1 2 Months (Jan.-F*b.)
W
uaâi
DISTILLED LIQUORS (Proof QaUons)t
Stook in Custons Bondod Ware
housos at beginning
3,748,*24
Total Inports (Proo and Dutiable)
1,053,*70
Available for Cansuaption
4,802,234
Entered into Cpnsunptien (a)
751,350
Exported,from Cuytons fiistodw.. ..
Steak in Custons Bondod Varo*
3,847,700
houses at ond
/
STILL VINES (Liquid Oallono)s
Stook in Custons Bondod V*rohousos at beginning
Total Inports (Proo and Dutiable)
Available far Oonsunptloa
Entered into Conouoption (a)
Exported t c v i Ousoons "CUVTody
Stack in Custons Bonded Ware*
housos at ond
DUTIES COLLECTED ON Distillod Liquors
Still Vinos
Sparkling Vinos
Total Dutios Colloetod on Liquors
Total Dutios Collootod on Othor
Connoditlos
Total Dutios Collootod
Por Pont Collootod on Liquors
V
4,282,
1,023,475
*,0*3,343
2,130,132
73*i
5,013,
1,045,
—
W
3,3«»
saMnnnMnnnnHjN^fc^pP^^y^^^M^nni^MNMMBMSMnM^g^lqpii^Q^LBMtti
3,320,*73
3,847,700
1,in,Oil
1,*08,118
1,757,«48
1,*08,118
134,834
23I, *35
1 ,833,813
201,4*7
12 5,723
577
170,10*
42*,523
2,034,*47
337,423
aawjiwiei
i ■
1,7«»!
332»1
2,<W
377»!
imn,r- .4
71
,.34
1,*34,343
l,*37,0*7
1,710,373
1,*34,343
1,7«»!
223,333
14,4*2
233,023
11,24*
32*,353
11,**0
330,013
1«,1<7
233,023
25,708
325»!
32»|
35®»!
34»!
230,455
13,830
224,*13
t
4,233,874
3,748,*24
1 ,831,301
13 5,33*
1,*02
PARKLXMO VINES (Liquid Calions)
Stook in Custons Bondod Varehousos at beginning
Total Inports (Proo and Dutiable)
Available for Gonsunption
Entered into Gonsunption (a)
Exnortod fron Custons Custody
Stook in Custons Bondod Torehousos at ond
4,213,*38
2*5,142
4,488,840
544,*58
4,233,»74
775,005
5*o * M 7 >
1,24*,182
in
2,4*2,444.
244,35*.
80,820.
* 2 ,787,*20.
244,275
20,275
— •
-.. y—
223,333
$ 3,25*,3*4 .
»8.8*
••
323,005
$ 3,627,30*.
323»2
455,552.
I0?r?2*.
47M
20jj
$ 2,3 13 ,728. * *,414,32*. I 5,7®2'7
22,04*,1*7.
*33,533,433*
224,*13
$ 2,*18 ,6 13 * *5,7*3,408. $ 5»02M
251,23**
211,835*
119.10*.______83,220.
JO,233,0*5*23,372,133.
*33,087,485.
*
250,737
34,105
10 .
*0,271,988.4 5 ^ J
*24,353,835. ***,*8*,524. *51,3«'*
10.D&________ 11.79*
(a) Including withdrawals for ship supplies and diplomatic use.
(jProjajad hy tho OlTiolon orStAtlstlss and Research, Bureau-of Oustons)
TREASURY DEPARTMENT
•
Washington
RELEASE MORNIN NEWSPAPERS
Monday,
April $£, 1936
4/10/36
'
Press Service
Ho v i s
Imports of distilled liquors and vanes
during the month of February, 1936,
and duties collected on such imports were reported today
by the Bureau <bf
Customs, as shown in the accompanying table.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, April 13» 1956«____ '
4-10-36.
Press Service
No. 7-15
Imports of distilled liquors and wines during the month of
February, 1936, and duties collected on such imports were reported
today by the Bureau of Customs, as shown in the accompanying table
IMPORTS OF DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED THEREON
February, 1936
* 2 Months (jan.-Feb.)
February
J anuary
February
1936
1935
1935
1936
1936
DISTILLED LIQUORS
(Proof Gallons):
Stock in Customs
Bonded Warehouses
at beginning.... 3,748,624
4,233,874
4,282,960
4,219,698
4,233,874
Total Imports (Free
736,371
and dutiable)....
1,829,475
269,142
1,053,670
775,805
Available for Con
5,019,331
sumption. ........
6,063,349
5,009,679
4,488,840
4,802,294
Entered into Con
1,045,999
sumption (a) ....
544,658
2,198,132
1,246,182
951,950
Stock in Customs
Bonded Warehouses
at end..........
3,918,673
3,847,700
3,918,673
3,748,624
3,847,700
STILL WINES
(Liquid Gallons):
Stock in Customs.
Bonded Warehouses
at beginning.... 1,637,067
1,766,588
1,608,118
1,757,848
1,608,118
Total Imports (Free
and dutiable)....
332,264
426,529
125,729
231,695
194,834
Available for Con
sumption. ..... ..
2,034,647
2,098,852
1,883,577
1,839,813
1,831,901
Entered into Con
377,944
sumption (a) ....
397,423
170,106
201,467
195,956
Stock in Customs
Bonded Warehouses
at end...........
1,710,979
1,634,343
1,637,067
1,710,979
1,634,343
SPARKLING WINES
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
at beginning... •
233,029
325,712
326,353
233,029
223,993
Total Imports (Free
and dutiable)...*
32,806
25,708
11,660
11,246
14,462
Available for Con
sumption. ........
358,518
258,737
338,013
238,455
244,275
Entered into Con
sumption (a) ....
34,560
14,167
34,105
20,275
13,830
Stock in Customs
Bonded Warehouses
at end.•••«*•«...
323,805
224,613
223,993
. 323,805
224,613
' DUTIES COLLECTED ON
Distilled Liquors $2,462,444 $3,256,964 $2,618,613 $5,719,408 $5,026,436
471,185
495,592
251,236
211,895
Still Wines
244,356
199,926
205,116
Sparkling Wines
119,106
83,220
■ 80,820
Total Duties Collect
ed on Liquors
$2,787,620 $3,627,306 $2,913,728 $6,414*926 $5,702,737
(a) Including withdrawals for shin supplies end diplomatic use.
TREASURY DEPARTANT
Washington
MEMORANDUM EOR TEE PRESS
April 13, 1936*
RECEIPTS OP SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended April 10, 1936:
547,096*28 fine ounces
Philadelphia
.................................
575,943,63
»
»
San Francisco.................................. •...............
18,-337.48
,r
»
•••••****•
Denver ............ ..............
1,141,377.39
»
»
Total for week ended April 10, 3,936.... ••••
”
"
Total receipts through April 10, .1936*.............. 76,807,689.90
SILVER TRANSFERRED TO UNITED STATES: ■
(Under Executive Proclamation of August 9„ 1934)
Week ended April 10»-. 1936:
5.810.00 fine ounces
Philadelphia**..................
...............
ti
it
1,.897,05
Hew York .....
.. ........................ *
ttif
2.192.00
San Francisco ... ..................
i
t
it
1,992,20
Denver ...................... .......... ....... *-■***•
New Orleans*. .... .......... .................•..
Sea.ttle....................................... ...»
ir
11,891,25
Total for week ended April 10, 1936 ...... .
it
Total recdpts through April 10, 1936................. 112,728,521.25
RECEIPTS OF GOLD BY THE MINTS AMD ASSAY OFFICES:;
New
Week ended April 10, 1936;;
Imports_____ Secondary___ Domestic
8,551,,94 $150,325,83 $
333,20
Philadelphia ...................... $
202,000,00
New York ....................... .. 4,552,400.00 238,400,00
567,588.63
33,530,72 1,462,041,20
San Francisco .....................
23,336.01
23,435.25
557,991,29
D e n v e r .............................
---- 31,130.13
104.92
New Orleans.......................
16,502,93
57,661,03
Seattle...... .....................
Total for week ended April 10, 1936.. $5,151,876.58 $493,324.86 $2,280,131,64
GOLD RECEIVED 3Y FEDERAL RESERVE PANICS AND THE TREASURER'S OFFICE:
(Under Secretary’s order of December 28, 1933)
Received by Federal Reserve Banks:
G-old Coin
Week ended April 8 , ^ , > $
15,773.06
Received previously............. . 31,289,231.17
Total to April 8................ $31,305,004.23
Received by Treasurer’s Office:
Week ended April 8. .....*,
~
Received previously....... *.....
267,756,00
Total to April 8.......... ..... $
267,756.00
NOTE:. ^Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
G-old Certificates
$
248,070.00
105,830,720.00
$106,078,790.00
$
$
5,000.00
2,416,220.00
2,421,220.00
tisàsiif m f m w m
i ì M
ì m m t m w m m m sm
f h e ^ a y » M r | l 24. 1936,_______
wm
Press Serri««
7- /4
4/13/3«
Secretary of thè Treaenry Horgenthaa aanotmeed laai evenlng iàat
thè tendere for $50*000*00!» or thereabouts* of 273-day Treasary bilie»
dateci Aprii 15* I#i4# end raaturing «Jaimary 13* Sf3?* «bieh «ere offered
on Aprii 10* «ere ©pened et thè federe! Resere© banks on Apri! 13*
fhe tote! aaoaat Applied for was $15$*99!*000» ©f «àieh $50*006*000
«es aceepted.
thè aeeepted bidè raaged la prie«
leat to a rate of aboat
to a rate of atout
0.105
0*030
tram
93*332* eqaira*
pereent per annua» to 99*920* eqoìralent
pereent per annua* ©a a tank discount basis*
0aly pari of thè arnount bid for at thè lattar- prie# vas aceepted.
The
arerage prie# of Treaeary bilie to be issueé le 99*924 and thè arerage
rate le about 0»1OQ peroent per annua on a batik discount baile*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Press Service
Tuesday, April 14, 1936#________
4-13-36,
No, 7-16
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated
April 15','. 1936, and maturing January 13, 1937, which were offered on April
10, were opened at the Federal Reserve hanks on April 13,
The total amount applied for was $150,991,000, of which $50,008,000
was accepted,.
The accepted hids ranged in price from 99.932, equivalent
to a rate of about 0.090 percent per annum, to 99.920, equivalent to a
rate of about 0,105 percent per annum, on a hank discount basis,.
part of the amount bid for at the latter price was accepted.
Only
The average
price of Treasury bills to be issued is 99.924 and the.average rate isabout 0,100 percent per annum on a bank discount basis.
ooOoo
-Siessential in the control of existing or potential health hazards and for promoting
passage of such additional legislation as may he found necessary in the control
of these hazards.
Coc.r^Lnati_on of activities in Food Research and KVibrition.
The activities of the Department of Commerce, the Department of Agriculture
and the Public Health Service in the field of food research and nutrition have been
coordinated through the permanent technical committee on Food Research Problems.
This Committee meets with the technical staffs of the various agencies concerned, assi]
with technical advice, and helps in making the results of this research available to
medical profession and the public generally.
In addition to the continuing work which will be necessary for Committees alreadjj
appointed, there remain to be worked out in several fields, coordinated programs of a
between various Federal agencies.
-4are to "be so organized that general policies will he agreed upon at joint
conferences of all Federal agencies concerned with public health nursing
administration in Washington. I All regional consultation service regards
less of departmental organization will be correlated by joint conferences
both at the point of central administration and in the several regions.
Conflicting recommendations with regard to qualifications of nursing
personnel are avoided through agreement upon uniform standards.
The family is recognized as the unit for all direct nursing services
and both generalized and specialized consultation services are coordinated
through the Chief Nurse of the State Health Department.
Cooperative Activities of the Public Health Service and the Depart
ment of Labor in the Industrial Hygiene Field.
This agreement sets up
the functional division of activities of the United States Public Health
Service and the Department of Labor in the industrial hygiene field.
To
the former, it allocates the investigations of a medical and engineering
nature to measure existing health hazards and to determine procedure for
control.
To the Department of Labor, it assigns the gathering and distri
bution of information on working conditions, accidents, wages and kindred
subjects.
Carrying the recommendations into the states, it is recommended,
for example, that the State Health Departments be responsible for such
activities as the compilation of information on mortality and morbidity
in the working population, epidemiological studies of illness, technical
service and advice, and the promotion of such additional legislation as
may be necessary to the improvement of industrial health.
In like manner, it is recommended that the State labor agency assume
responsibility for adoption and enforcement of rules and regulations
-2-
-3Two important agreements between the Public Health Service and the Department
of Labor have been completed and are in effect:
(l) Nursing; activities of the Childrens Bureau and the Public Heal th
Service.
Under the terms of the cooperative agreement of these two agencies, all putì
health nursing services under Federal auspices
-
2-
Through the courtesy of the Board of the Tennessee Valley Authority, Dr. Et I»
Bishop, its Medical Director was loaned to the Committee to act as Executive Secretad
v
In accordance with the President's instructions, the Committee has appointed the)
following permanent technical sub-committees.
(l) in the nursing field:
(2)in the field of industrial hygiene:
(3) in the field of food research and nutrition:
The Surgeon General, Public Health Service
The Secretary of Commerce
The Secretary of Agriculture
(3)
5
t e . Marti» E lio t, te o ista a t fflüof. ChiU r«*1. * » “ “ •
Department o f mboT.
m.**
Beutseh, D irector of M U 0 Health Harsing,
Department o f Dabcr.
Br. c . s . « a lle r. A ssistant Surgeon Cleneral,
publia Health Service*
Biss Pearl IfaÏTer, Aeeoeiate PobUo
Analyst, Mali® Health Service»
Professor H* Y* McCollum, School of Hygiene»
Johns Hopkins University, Baltimore, Maryland*
Professor H. 0* Sherman, Department of Clxemistry,
Colombia Uhiversity, Hew York, Hew York*
Dr* Harry Steenbock, Uhiversity of Wisconsin,
Madison» Wisconsin*
Dr* William feston» Uhiversity of South Carolina,
Columbia, South Carolina*
Dr* K ^ * ^ a c k f a n f > Professor ofLFadifftrics»
Passed Assistant Surgeon W* H* Sebrell, in charge
of nutrition Studies, national Institute of
Health, U. S* Public Health Servie.
FOR THE PRESS
IMMEDIATE RELEASE
AUGUST 15, 1935
STATEMENT BY THE PRESIDENT
))
In view of tiie passage and signing of the Social Security
Bill there is increasing necessity for better coordination of the
health activities of the Federal Government.
I am, therefore,
creating at this time an Interdepartmental Committee to give atten
tion to this subject.
As members of this Committee I have appointed
the following government officials.0
Josephine Roche, Assistant
Secretarv of the Treasury, Chairman; Oscar Chapman, Assistant Secre
taiy of the Interior; M. L. Wilson, Assistant Secretary of Agri
culture, a.nd A. J. Altmeyer, Second Assistant Secretary of Labor.
I! I am directing this Committee to include within the scope
of its work not only health activities, but closely related welfare
activities as well.
As its immediate task, I am instructing this
Committee to assume responsibility for the appointment of special
committees to be composed of physicians and other technically
trained persons within the government service to study and make
recommendations concerning specific aspects of the government’s
health activities.
M I am confident that this procedure will facilitate the
consummation of a series of appropriate cooperative agreements
between the various departments of the government.
I am also hope
ful that in this way we can eventually bring about a complete
coordination of the government’s activities in .the,health field.5
Summary of the report of Dr. E.L.Bishop, Executive Secretary of the Interdepartmental
Committee on health and welfare activities, at the 34th annual conference of the
State and ferritorial Health Officers with the Surgeon General.
The President created the interdepartmental Committee hy his order of August 15,
1935, which reads as follows:
TREASURY DEPARTMENT
Washington
FOR IM E D TATE RELEASE ’
Tuesday, April 14, 1936.
Press Service
No, 7-17
Summary of report of Dr, E, L. Bishop, Executive Secretary of the Interde
partmental Committee on health and welfare activities, at the 34th Annual Confer
ence of the State and Territorial Health Officers with the Surgeon General,
The President created the Interdepartmental Committee hy his order of
August 15, 1935, which reads as follows:
MIn view of the passage and signing o f the Social Security
Bill there is increasing necessity for Better coordination of the .
health activities of#the Federal Government. I am, therefore,
creating at this time an Interdepartmental Committee to give atten
tion to this subject. As members of this Committee I have appointed
the following government officials:
Josephine Roche, Assistant
Secretary of the Treasury'',* -Chairman; Oscar Chapman, Assistant Secre
tary of the Interior; M. L, Wilson, Assistant Secretary of Agriculture,
and A, J, Altmeyer, Second Assistant Secretary of Labor.
nI am directing this Committee to include within the scope of
its work not -only health activities, but closely related welfare
activities as well. As its immediate task, I am instructing this Com
mittee to assume responsibility for the appointment of special com
mittees to be composed of physicians and other technically trained
persons within the government service to study and make recommendations
concerning specific aspects of the government’s health activities.
f,I am confident that this procedure will facilitate the con
summation of a series of appropriate cooperative agreements between
the Various departments of the government, I am also hopeful that in
this way we can eventually bring about a complete coordination of the
government’s activities in the health field.M
Through the courtesy of the Board of the Tennessee Valley Authority, Dr.
E. L. Bishop, its Medical Director was loaned to the Committee to act as Executive
Secretary.
In accordance with the President’s instructions, the Committee has appointed
the following-permanent technical sub-commit tees:
%y
- 2 -
(1)
In the nursing field:
Dr. Martha Eliot, Assistant Chief, Children’s Bureau,
Department of Labor.
Miss Naomi Deutsch, Director of Public Health Nursing,
Department of Labor.
Dr. C. E. Waller, Assistant Surgeon General, Public Health Service.
Miss Pearl Mclver, Associate Public Health Nursing Analyst,
Public Health Service.
(2)
In the field of industrial hygiene:
Mr. Verne A. Zimmer, Division of Labor Standards.
Mrs. Clara M, Beyer, Division of Labor Sto.ndp.rds.
Dr.. R. R, Jones,
Division of Labor Standards.
Assistant Surgeon General L. R. Thompson, Public Health Service.
Assistant Surgeon General G. E. Waller. Public Health Service.
Dr. R. R. Sayers, Surgeon in Charge3 Office of Industrial
Hygiene and Sanitation, Public Health Service
(3)
In the field of food research and nutrition:
The Surgeon General, Public Health Service.
The Secretary of Commerce.
The Secretary of Agriculture,
Professor E, V, McCollum, School of Hygiene, Johns Hopkins
University, Baltimore, Maryland.
Professor H. C. Sherman, Department of Chemistry, Columbia
University, New York, N. Y.
Dr. Harry Steenbock, University of Wisconsin, Madison, Wisconsin.
Pant Assistant Surgeon W. H. Sebrell, in Charge of Nutrition
Studies, National Institute of Health,
U. S. Public Health Service.
Dr. William Weston, University of South Carolina, Columbia, S.C.
Two important agreements between the Public Health Service and the Depart
ment of Labor have been completed and are in effect:
(l) Nursing activities of the Children’s Bureau and the Public Health Ser
vice ,
Under the terms of the cooperative agreement of these two agencies, all
public health nursing services under Federal auspices are to be so organized that
general policies will b© agreed upon at joint conferences of all Federal agencies
concerned with public health nursing administration in Washington.
All regional
consultation service, regardless of departmental organization, will be correlated
°Y joint conferences both at the point of central administration and in the
several regions.
Conflicting recommendations with regard to qualifications of
nursing personnel are avoided through agreement upon uniform standards*
The family is recognized, as the unit for all difect nursing Services and '
both generalised and specialized consultation cervices are coordinated through the
Chief Nurse of1 the State Health ïtejjahtmehii
(2)
Cooperative Activities of the Public Health Service ahd the Department
of Labor in the Industrial Hygiene Field.
This agreement sets u p the functional
division of activities of the United States Public. Health Service and the Depart
ment of Labor in the industrial hygiene field.
To the former, it allocates the
investigations of a medical and engineering nature to measure existing health
hazards and to determine procedure for control.
To the Department of Labor, it
assigns the gathering and distribution of information on working conditions,'
accidents, wages and kindred subjects.
Carrying the recommendations into the
states, it is recommended, for example, that the State Health Departments be re
sponsible for such activities
as the compilation of information on mortality and
morbidity in the working population, epidemiological studies of illness, technical
service and advice, and the promotion of such additional legislation as may be
necessary to the improvement of industrial health.
In like manner, it is recommended that the State labor agency assume re
sponsibility for adoption and enforcement of rules and regulations essential in the
control of existing or potential health hazards and for promoting passage of such
additional legislation as may be found necessary in the control of these hazards,
(3)
Coordination, of activities in Food Research and Nutrition.
The activ
ities of the Department of Commerce, the Department of Agriculture and the Public
Health Service in the field of food research and nutrition have been coordinated
;
-
4-
through the permanent technical committee on Food Research Problems,
mittee
This Com
meets with the technical staffs of the various agencies concerned, assists
with technical advice, and helps in making the results of this research available
to the medical profession and the public generally.
In addition to the continuing work which will be necessary for Committees
already appointed, there remain to be worked out in#several fields, coordinated
programs of auction between various Federal agencies.
0O 0—
add health wash x x x
w
Of the 38 representative cities invited to take part in the
of a model code, 21 already have assigned personnel to cooperate with
the federal government. These cities
are located in New Jersey, Ohio, Washington,
Montana, Pennsylvania, Florida, Arkansas, Louisiana ,Ma±Exsndx Maine and Utah,
in addition to the states represented by the members of the advisory board.
The first problem is to have each city or community to
prepare
its present health code to conform with a tentative draft under five
headings in this order:
Organization
Control of cases of communicable diseases.
Control of environment; including food and meat, food
establishments and restaurants; milk and milk products; ice cream and other frozen
products; water supplies, excreta, insects and rodents, industrial sanitation,
schools, swimming pools, tourist camps and homes, barber shops, buildings and
premises, smoke abatement, domestic animals and pests, disposal of dead bodies,
and nuisances.
IV
Joirth BRpaot, morbidity and mortality reporting and the
keeping of records.
V
Mx x e e ü Education and publicity and the right of
J*
JUL*
entry.
m
/
s*****
V*.
m
Cooperation
of American cities and
towns in the formation of a standard public health code was assured today as
C^vA.
^ fi-iXÀJfc-^
«MHfRMiMtiMfM«
*e announced
the acceptance l^^eight health officials as members of an advisory board
-¿i'Lk sh JL.
who will work with the
on this project.
Chief benefits from the formation of such a code will
be that every community in the country will have before it a model that
has hxd resulted from group and national judgment, giving it a much sounder
position^»
standardized public health practice jrlll\lsoj enable
ù y*
each city to draw lji»nall other cities the/<^perience£a?
f ib
U *É /j
a similar code.
mmmmsmmtmm
A 2Q&ats± health code fashioned upon a nationally endorsed model
will also carry
locales
weight wh^*e questions of public health come into the
or state courts, it was pointed out
JtBgtherzhanefitzSbaskx
azxodexwilizalsoxalijawxaayxcity;zasingz±fcxfaz axmaab&ixtMX
Use of such a model
and the experience of the thousands of public health officials using it as a
.
C&A. C-aj***
ffc
j
standard would also tend f T T j o c a ] 'TtH ith ‘
O-K*..
-K X A
j
Members of the advisory board who are to hold their first meeting
in Washington this summer, are:
i
A
DrytH.Jf*Vaughan, city health commissioner,Detroit : Dr. Hugh
h*MJi S E u ^
R.LeavelljlLouisvillejKyv; A.D.Weston, chief engineer, state health department,
Boston ; Dr.W.F.Walker, Commonwealth Fund, New York City ; H.A.Whittaker, & m te
s D r health department,Minneapolis ; Dr. J.N.Baker, state health officer,Montgomery,
Ala.; Dr. Earle G.Brown, state health c^fficer^ Topeka,Kans.* and
C.Ruhlftrv^ fa&âi tb commissioner,
LL \U > J
m o r e
Dr.George
111
TREASURY DEPARTMENT
/
Washington
POR RELEASE, MORNING- NEWSPAPERS,
Sunday» April 19, 1936,_________
4-16-36.
Press Service
No. 7-18
Goopera/tion of American cities and towns in the formation of a standard public
health code was assured today as the United States Public Health Service announced
the acceptance of
appointments by eight health officials as members of an advisory
board who will work with the Federal government on this project.
Chief benefits from the formation of such a. code will be that every community
in the country will have before it a model that has resulted from group and national
judgment, giving it a much sounder position.
A standardized public health practice also will enable each city to draw from
all other cities their experiences in the use of a, similar code.
A health code
fashioned upon a nationally endorsed model will also carry weight where questions
of public health come into the local or stale courts, it was pointed out. Use of
such a model and the experience of the. thousands of public health officials using
it as a standard would also tend to encourage the continuous development of
local health ordinances and regulations.
Members of the advisory board who are to hold their first meeting in Washing
ton this summer, are:
Dr. H.E. Vaughan, City Health Commissioner, Detroit; Dr. Hugh R. Leavell,
City Health Officer, Louisville, Ky.; A.D. Weston, .Chief Sanitary Engineer,
State Health Department, Boston; Dr. W.F. Walker, Commonwealth Fund, New York
City; H.A. Whittaker, Chief Sanitary Engineer, State Health Department,
Minneapolis; Dr. J.N. Baker, State Health Officer, Montgomery, Ala.; Dr.Earle
G. Brown, State Health Officer, Topeka, Kan.; and Dr, George C. Ruhland,
Health Commissioner, District of Columbia.
Of the 38 representative cities invited to take part in the drafting of a
model code, 21 already have assigned personnel to cooperate with the Federal
Government.
These cities are loca.ted in New Jersey, Ohio, Washington, Montana,
-2Pennsylvania, Florida, Arkansas, Louisiana, Maine and Utah, in additon to the
states represented by the members of the advisory board.
The first problem is to have each city or community to prepare its present
health code to conform with a tentative draft under five headings in this order:
I.
II,
'.Organization
-Control of cases of communicable diseases,
III,
Control of'environment; including food and meat, f
establishments and restaurants; milk and milk products; ice cream and
other frozen products; water supplies, excreta, insects and rodents, indus
trial sanitation, schools, swimming pools, tourist camps and homes, barber
shops, buildings and premises, smoke abatement, domestic animals and pests,
disposal of dead bodies, and nuisances.
IV,. . Birth morbidity and mortality reporting and the
keeping of records,
V,
.
.Education and publicity and the right of entry.
00O00
TREASURY DEPARTMENT
O F F IC E O F T H E S E C R E T A R Y
W A S H IN G T O N
C O M M ISSIO N E R OF
A C C O U N T S A N D D EPO SITS
April 16, 1936«
TO MR» GASTON:
During the month of March , 1936, the following market
transactions took place in GoYernment securities for investment
accountsr
Total purchases • • • • « • « » $32,702,150
Total sales
••••••••#
Net purchases:
0
$32,702,150
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, April 16, 1936,
Press Service
No. 7-19
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of March, 1936, amounted to $32,702,150,
Secretary Morgentha.u announced today.
ooOoo
For Release, Saturday morning,
April 18, 1936
7~^o
Comptroller of the Currency, J. F, T# O’Connor today issued figures
showing the net additions to profits for 5,392 national banks for 1935
and also gave the figures for preceding years back to 1912, as follows:
lear
1912
1913
19H
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924.
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
* 1935
Number
nf Banka
7,3 7 2
7,473
7,525
7,605
7,579
7 ,6 0 4
7,705
7,785
8,030
8 ,1 5 4
8,249
8,241
8,085
8,0 7 2
7 ,9 7 8
7,7 9 6
7,691
7,536
7,252
6,8 0 5
6 ,1 5 0
4 ,9 0 2
5,422
5,392
Net addition
tQ Profits
$ 1 6 0 ,9 8 0 ,0 0 0
1 4 9 ,0 5 7 ,0 0 0
1 4 9 ,2 7 0 ,0 0 0
127 ,0 9 5 ,0 0 0
1 5 7 ,5 4 4 ,0 0 0
1 9 4 ,3 2 1 ,0 0 0
2 1 2 ,3 3 2 ,0 0 0
240 ,3 6 6 ,0 0 0
282 ,0 8 3 ,0 0 0
2 1 6 ,1 0 6 ,0 0 0
1 8 3 ,6 7 0 ,0 0 0
i
203,4^ 8,000
1 9 5 ,7 0 6 ,0 0 0
2 2 3 ,9 3 5 ,0 0 0
2 4 9 ,1 6 7 ,0 0 0
2 5 2 ,319,000
2 7 0 ,1 5 8 ,0 0 0
3 0 1 ,8 0 4 ,0 0 0
246 ,2 6 1 ,0 0 0
5 2 ,5 4 1 ,0 0 0
P a& fiit
-•
$ 1 3 9 ,7 8 0 ,0 0 0
2 1 8 ,3 8 4 ,0 0 0
3 0 3 ,5 4 6 ,0 0 0
1 5 8 ,4 9 1 ,0 0 0
(* Calendar year, all others for fiscal year«)
TREASURY ESP ARTMENT
Washington
POR RELEASE, M0RNIN0- NEWSPAPERS,
Saturday, »April 18, 1936»______
4-16-36.
Press. Service
N o • 7-20
Comptroller of the Currency, J.E.T. 0 ‘Connor today issued figures showing
the net additions to profits for 5,392 national tanks for 1935 and also gave the
figures for preceding years "back to 1912, as follows:
Tear
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
*1935
Number
of Banks
7,372
7,473
7,525
7,605
7,579
7,604
7,705
7,785
8,130
8,154
8,249
8,241
8,085
8,072
7,978
7,796
7,691
7,536
7,252
6,805
6,150
4,902
5,422
5,392
Net addition
to Profits
Deficit
■■$160,980,000
149.057.000
149.270.000
127.095.000
157.544.000
194.321.000
212.332.000
240.366.000
282.083.000
216.106.000
183.670.000
203.488.000
195.706.000
223.935.000
249.167.000
252.319.000
.270,158,000
301.804.000
246.261.000
52,541,000
$139,780,000
218.384.000
303.546.000
158,491,000
(* Calendar year, all others for fiscal year.)
TREASURY DEPARTMENT
Washington
April 20, 1936,
MEMORANDUM FOR THE PRESS
RECEIPTS OP SILVER 3Y THE MINTS AND ASSAY OEEICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended April 17, 1936:
Philadelhhiai.... .................
San Francisco..................
Denver........ .............•......
Total for week ended April 17, 1936..
Total receipts through April 17, 1936
655,884*73 fine ounces
398,747*47
"
»
. 5,265*84
»
"
1,059,898.04
»
w
77,867,587.94
,f
»
SILVER TRANSFERRED TO UNITED STATES.;
(Under Executive Proclamation of August 9, 1934)
Week ended April 17, 1936:
Philadelphia .... *.................... .
New York*........................................ .
San Francisco ................................... .
Denver.........................1...................
New Orleans.......................................
Seattle................ ...........................
Total for week ended April 17, 1936................
Total receipts through April 17, 1936-..............
3.329.00 fine ounces
1,534.54
»
«
4.704.00
»
«
349*01
»
«
9,91-6.55
112,738,437.80
»
»
”
»
RECEIPTS OF GOLD BY THE MINTS AND’ASSAY OFFICES:
New
Week ended April 17, 1936:
Imuorts
Secondary _____Domestic
Philadelphia ..........,.
..._____ $
1,789.69 $126,902*70 $
639.98
New York.... .........
.... ..
9,079,600.00 148,600*00
381,700,00
San Francisco
42,009.77 1,139,644.81
»...
921,183.50
Denver...................... .........
14,735.34
730,069.63
94,762.56
New Orleans
27,936.51 ----------Seattle. .................... * -----14,674.69
224,921.40
5,773*22
Total for week ended April 17, 1936... .$10,103,113.97 $374,859.01 $2,476,975.82
COLD RECEIVED BY FEDERAL *RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary’s order of December 28, 1933)
Received by Federal Reserve Banks::
Week ended April 15................
Received previously.............
Total to April 15............ .
Gold Coin
$
151,355*90
31,305,004,23
$31,456,360.13
Received by Treasurer’s Office;
Week ended April 15,,.......,,., $
Received previously.,* ........... *
Total to April 15...............
$
NOTE*
~
~ _ 267,756.00
267,756.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
G-old Certificates
$
319,350,00
106,078,790-, 00
3$106,398,140.00
*
$
• 3,600.00
; 2,421,220.00
$ 2,424,820.00
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, April 20. 1956_________
4/18/36
Press Service
No.
^ j
*
The Secretary of the Treasury is today inviting proposals for
furnishing distinctive paper for printing currency and public debt
securities of the United States during the fiscal year 1937, bids
for which will be opened at the Treasury Department on May 6 , 1936.
The estimated quantity required for currency is 825 tons.
estimate is made of the requirements for public debt securities.
No
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING- NEWSPAPERS,
Monday, April 20, 1956 ________
4/18/36
Press Service
No. 7-21
The Secretary of the Treasury is today inviting proposals
for furnishing distinctive paper for printing currency and public
debt securities of the United States during the fiscal year 1937,
bids for which will he opened at the Treasury Department on May
6, 1936.
The estimated quantity required for currency is 825 tons.
No estimate is made of the requirements for public debt securities.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, HORNING NEWSPAPERS,
Tuesday, April 21, 1936»
Press Service
4/20/36
;
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 278-day Treasury bills, dated April 22, 1936, and matur
ing January 20, 1987, which were offered on April 17, were
opened at the Federal Reserve banks on April 20.
The total amount applied for was $146,908,000, of
which $50,077,000 was accepted* The accepted bids ranged
in price from 99*984, equivalent to a rate of about 0*087
percent per annum, to 99*928, equivalent to a rate of
about 0*095 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted* The averageprice of Treasury bills to be
issued is 99*929 and the average rate is about 0*093
percent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday« April 21,» 1936» ______ .
4-20-36,
Press Service
No-* 7—22 '
Secretary of the Treasury Morgenth.au announced last evening that the
tenders for $50,000.,000 , or thereabouts, of 273-day Treasury hills, dated
April 22, 1936, and maturing January 20, 1937, which were offered on April
17, were opened at the Federal Reserve hanks on April 20*
The total amount applied for was $146,908,000, of which $50,077,000
was accepted.
The accepted bids ranged in price from 99*934, equivalent
to a rate of about 0*087 percent per annum, to 99*928, equivalent to a
rate of about 0*095 percent per annum, on a bank discount basis*
part of the amount bid for at the latter price was accepted.
Only
The average
price of Treasury bills to be issued is 99*929 and the.average rate is
about 0* 093 percent per annum on a bank discount basis*
ooOoo
- 3 $1 ,379»969,000, increased $33,258,000 since December and $115,760,000 in the year.
Bills payable of $U,330,000 and rediscounts of $8*4-3,000, a total of
$5,173,000, showed an increase of $2,171,000 since December, but a decrease of
$ 5,59*4,000 since March *4- last year.
The percentage of loans and discounts to total deposits on March U, 1936,
was 29.89, in comparison with 30.21 on December 31, 1935» and 3^*02 on March U,
1935-
00O00
2
The total assets on March U, 1936, were $28,293>019»000, which was an increase
of $ 6 8 ,3 1 8 ,0 0 0 since December 31 and. an increase of $2,333>736,000 in the twelve
month period.
Loans and discounts aggregated $7,U 30,86U,000 and showed decreases in the
two and twelve month periods of $7U,U57,000 and $ 59»0^+0 ,000, respectively.
Investments in United States Government Obligations direct and fully guaranteed
amounted to $7>785, 979,000, in comparison with $ 7 ,8 1 2 ,1 1 2 ,0 0 0 on December 31, 1935,
and $ 7 ,1 2 0 ,2 9 1 ,0 0 0 on March U, 1935»
Investments in such obligations reported for
the current call comprise direct obligations of the United States of
$6 ,Us0 ,^ 3 8 ,0 0 0 , obligations of the Reconstruction Finance Corporation of
$183,U 31,000, Federal Farm Mortgage Corporation bonds of $320,8U 3,000, and Home
Owners' Loan Corporation bonds guaranteed as to both interest and principal of
$801,267,000.
Other bonds and securities held totaling $ 3 ,803,037,000 showed in
creases in the two and twelve month periods of $ 1 3 7 ,6 1 3 ,0 0 0 and $ 3 1 3 ,6 5 6 ,0 0 0 , re
spect ively.
Balances with other banks and cash items in process of collection of
$ 7 ,7 3 7 ,0 9 3 ,0 0 0 , which include reserves with Federal Reserve Banks of $3,637,060,000,
were $ 7 8 ,5 5 2 ,0 0 0 more than on December 3 1 , 1935, and- $l»UUl,750,000 more than on
March U, 1935*
The cash in vault of $U69,0U2,OOO showed a decrease of $2U,797,000
since December, but an increase of $77,6lU ,000 in the year.
The book value of capital stock of the active banks on March U, 1936, aggre
gated $1,750,2U 6,000, representing a par value of $ 1 ,7 5 7,110,000«
The latter
figure was composed of Class A preferred stock of $U81,708,0 0 0 , Class B preferred
stock of $ 2 1 ,0 2 1 ,0 0 0 , and common stock of $ 1,25U ,381,000.
Surplus funds of
$895,2U2 ,000, undivided profits of $327,782,000, reserves for contingencies of
$ 1 5 1 ,0 5 6 ,0 0 0 , and preferred stock retirement fund of $ 5 ,8 8 9 ,0 0 0 , a total of
TREASURY DEPARTMENT
Washingtoni
Press Service
No* -o
-y
FOR RELEASE, MORNING NEWSPAPERS
cX ^ y^ .
1 - 2 3
¿l S ~
Comptroller of the Currency J• F. T. O'Connor announced today that the deposits
of the 5>331 active national hanks in the continental United States, Alaska, Hawaii
and the Virgin Islands of the United States, on March U, 1936, the date of the last
call made for statements of condition, aggregated $2^,859,^55,000, which establishes
a new high record for national hanks, exceeding hy $11,722,000, or .05 per cent, and
$512,075,000, or 2.10 per cent, the amounts reported on December 31» 1935» aad
December 31, 1928, respectively, the dates of the two previous high records in the
history of the National Banking System.
The current figures are $8,085,3^0,000, or
Us.20 per cent, in excess of the amount reported by U,902 licensed national banks
as of June 30, 1933» the date of the first call following the banking holiday in
March of 1933» and were $2,8^3,756,000, or 12*92 per cent, more than the amount re
ported as of March U, 1935, the date of the corresponding call a year ago.
The aggregate of deposits on March U, 1936 , comprised demand and time deposits
of individuals, partnerships, and corporations of $10 ,863,696,000 and $6 ,878 ,3^6 ,000,
respectively, United States Government deposits of $^36 ,656 ,000, State, county and
municipal deposits of $1 ,953 ,679 ,000, postal savings of $150 ,2^9 ,000, and deposits
of other banks, including certified and cashiers' checks outstanding, of
$U,576,829,000. The time deposits of individuals, partnerships, and corporations
include time certificates of deposit of $65^,061,000 and deposits evidenced by
savings pass books of $5 ,9 1 1 ,688,000, the latter figure representing lU,879,330
accounts. Postal savings in national banks on March U, 1936, showed a decrease of
$37,1^5,000, or 19.82 per cent, since December 3 1 , 1935, »ud a decrease of
$l63 ,Ull,000, or 5 2 .10 per cent, in the year.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Saturday, April 25« 1936._______
4-22-36.
Press Service
No. 7-23
Comptroller of the Currency J.E.T. O ’Connor announced today that the deposits
of the 5,381 active national hanks in the continental United States, Alaska,
Hawaii and the Virgin Islands of the United States, on March 4, 1936, the date of
the last call made for statements of condition, aggregated $24,859,455,000, which
establishes a new high record for national hanks, exceeding hy $11,722,000, or .05
per cent, and $512,075,000, or 2.10 per cent, the amounts reported on December 31,
1935, and December 31, 1928, respectively, the dates of the two previous high
records in the history of the National Banking System.
The current figures are
$8,085,340,000, or 48.20 per cent, in excess of the amount reported by 4,902
licensed national banks as of June 30, 1933, the date of the first call following
the banking holiday in March of 1933, and were $2,843,756,000, or 12.92 per cent
more than the amount reported as of March 4, 1935, the date of the corresponding
call a year ago.
The aggregate of depositson March 4, 1936, comprised demand and time deposits
of individuals, partnerships, and corporations of $10,863,696,000 and
$6,878,346,000, respectively, United States Government depositsof $436,656,000,
State, county and municipal deposits of $1,953,679,000, postal savings of
$150,249,000, and deposits of other banks, including certified and cashier^
checks outstanding, of $4,576,829,000.
The time deposits of individuals, partner
ships, and corporations include time certificates of deposit of $654,061,000 and
deposits evidenced by savings pass books of $5,911,688,000, the latter figure
representing 14,879,330 accounts.
Postal savings in national banks on March 4,
1936, showed a decrease of $37,145,000, or 19.82 per cent, since December 31, 1935,
»
-
2-
ahd a decrease of $163,411,000, or 52.10 per cent, in the year.
The total assets on March 4, 1936, were $28,293,019,000, which was an increase
of $68,318,000 since December 31 and an increase of $2,333,736,000 in the twelve
month period.
Loans and discounts aggregated $7,430,864,000 and showed decreases in the two
and twelve month periods of $74,457,000 and $59,040,000, respectively.
Investments in United States Government obligations direct and fully guaran
teed amounted to $7,785,979,000, in comparison with $7,812,112,000 on December 31,
1935, and $7,120,291,000 on March 4, 1935.
Investments in such obligations report
ed for the current call comprise direct obligations of the United States of
$6,480,438,000, obligations of the Reconstruction Finance Corporation of
$183,431,000, Federal Farm Mortgage Corporation bonds of $320,843,000, and Home
Owners’ Loan Corporation bonds guaranteed as to both interest and principal of
$801,267,000.
Other bonds and securities held totaling $3,803,037,000 showed in
creases in the two and twelve month periods of $137,613,000 and $313,656,000,
respectively.
Balances with other banks and cash items in process of collection of
$7,737,093,000, which include reserves with Federal Reserve Banks of $3,637,060,000,
were $78,552,000 more than on December 31, 1935, and $1,441,750,000 more than on
March 4, 1935.
The cash in vault of $469,042.,000 showed a decrease of $24,797,000
since December, but an increase of $77,614,000 in the year.
The book value of capital stock of the active banks on March 4, 1936, aggre
gated $1,750,246,000, representing a par value of $1,757,110,000.
The latter fig
ure was composed of Class A preferred stock of $481,708,000, Class B preferred
stock of $21,021,000, and common stock of $1,254,381,000.
Surplus funds of
$895,242,000, undivided profits of $327,782,000, reserves for contingencies of
-3$151,056,000, and preferred stock retirement fund of $5,889,000, a total of
$1,379,963,000, increased $33,258,000 since December and $115,760,000 in the year.
Bills payable of $4,330,000 and rediscounts of $843,000, a total of $5,173,000,
showed an increase of $2,171,000 since December, but a decrease of $5,594,000 since
March 4 last year.,
.
The percentage of loans and'discounts to total deposits on March 4, 1936,
was 29.89, in comparison with 30.21 on December 31, 1935, and 34.02 on March 4,1935.
ooOoo
’add
milk x x x
in 1925; ,
Among the larger cities under the milk code are:Montgomery,Ala*;
Phoenix,Ariz«;Little Rock,Art*; Jacksonville,Miami end St«Petersburg,FI
Atlanta and Savannah,Georgia; Ottumwa,Iowa; Louisville,Lexington and
Paducah,Kentucky ; Baton Rouge and Shreveport,Louisiana; Cumberland,Md«j
Kalamazoo,Mich©; Rochester,M i n n « ; Biloxi,Hattiesburg,Meridian and
Vicksburg,Mississippi; Jefferson City end St .Joseph,Missouri; Anaconda,)
Mont«; Albuquerque and Santa Fe,New Mexico;
Raleigh,Winston-Salem
Asheville,Charlotte,Durham,Greensboro/and Greenville North Carolina:
Fargo,N.D.; Mansfield end Marion,Ohio ; Portland,Ore.;
Beaufort,Columbia and Spartanburg,South Carolina;
and Memphis,Tennessee;
Charleston,
Chattanooga,Knoxvi
Dallas, El Paso,Ft «Worth, Beaumont ,Galvestonj
Corpus ChristiHouston , Austin,Wichita Falls and San Antonio,Texas;
Salt Lake City and Ogden Utah; Suffolk,Va«; Walla Walla Wash«, and
Charleston,Huntingto3^and Parkersburg,West Virginia«
3HBXKX
Note to correspondents:
W
T '
List of cities subscribing to above code available in
Mr« Gaston’s office
add milk x x x been featured
*3
by v a rio u s p ro d u ce rs »0 omprrptr^'V^"'
'■"x
disuirsTsed •
3
/
p*'■ jwjy..m.’w0
A
-/?—f
[ Labelling of t h ^ p r o d u c t fees Trisa bieen',uiiduri
'
"'
c,cnislQ,eTalluii;^Bik>|
will be discussed
Concentrated milk^. recently made its appearanc^iir^TtrlwrO}rlabcas|
and.^at^iteiaA^y»^«. Like evaporated milk, this product is not subject to
regulation under the model ordinance.
Inclusion of trade names on labels ,heretofore not
under the code, will be the subject of a third report. Labels so far
have been limited to a simple statement of milk grades.
Members of the board are:
H. A .Whit taker, chairman, St ate Health Department »Minneapolis
Jfr*s fh wI &
fj&AtvA y
A
C.A.Abele,state health department,Montgomery,Ala^:.;Y.M.Shlers,State boerc
A
of health, Austin, Tex. ;H. A. Kroeze,state board of health, Jack son,Miss. ;E.S,
Tisdale,state health Department,Charleston,W.Va• jSmaxtxXsiiy Dr.D.B.
Peck,Chicago, representing milk dealers; Loomis Burrell,Little Falls,N.Y.,j
representing machinery manufacturers; Seth V/.Shoemaker,Scranton,Pa.,
representing Certified milk producers; Ernest Kelly, U.S.Department of
Agriculture, and Leslie C.Frank, U.S.Publis Health Service.
6
■■^ v
Chicago is the largest city mi Tuft r»1M u g
of
to the code. It entered
Is
into the compact at the beginning
this year. Since it
entry, two
Decatur and Waukegan,
^-r^*
other Illinois cities/have come under the agreement.
States where the code has found widespread support by local
communities* include: Alabama,Florida,Kentucky, Louisiana,Mississippi»
Missouri, North and South Carolina,Oklahoma,Oregon,Tennessee»Texas
and West Virginia
_ _
^
__ Alabama
“.. * " HI
— - communities
-■
Gadsden and Tuscaloosa/were
the -first
to
the ordinance in 1923.
">©
>
'V
Tf
mm
v
tilll«'— —
\A^~*
I
»««■isssssi
7
—“^J
V
America’s milk supply, recognized as the purest in the world,
group of
will be the subject of a three day discussion on May 1
8
exp^
'T fCy^h £ *r J r V r d l
gather in Washington to discuss developments in t h e i’lwkiobgy during
the past year*
?f
9*
Sunshine vitamins, concentrated milk and the labelling of milk
containers will be among the important subjects under discussion by
the 11 men who form the Public Health Service Milk Sanitation
Advisory Board®
b o a r d ’s
The EomziittB* action will be watched by health officers of eve
community which regulates its milk production under a health code, aij
especially by the 632 communities of 33 states which subscribe to th
Public Health Service Milk ordinance* This ordinance has been used as|
a model since 1923.
The 632 communities using the model ordinance have a population
of more than 18,000,000, or about one third of the urban population
the United States.
concentrate
Reports on studies of ^^,th3N^e.^topljGhS^ Vitamin D, miHc
milk 6tn4 labelling will be made by three subcommittees which have
/
^
been studying the problems since last y e a r ’s meeting of the milk
advisory board0
is
to milk i,
Le of three methods
w rn
or the ujrafof the yioletfray; by feeding irradiated"
m
Iroducirp^cat^le. pf by the
o W t a i p i h g i h e vitai^^»,^,-
■
W M JLa i.r.rad
JUVZ
aftnflnt,ftd/raA3,
.
k--cnriflw
it *5 ilntfrodl1n^ jian- ijai>n milk has been featured
m o r e
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, April 26, 1936. ________
4-22-36.
Press Service
No. 7-24
America1s milk supply, recognized as the purest in the world, will be thè
subject of a three day discussion on May 18, when a group of experts gather in
Washington to discuss developments in milk control during the past year?
"Sunshine" vitamins, concentrated milk and the labelling of milk containers
will be among the important subjects under discussion by the 11 men who form the
Public Health Service Milk Sanitation Advisory Board.
The Board's action will be watched by health officers of every community
which regulates its milk production under a health code, and especially by the 632
communities of 33 states which subscribe to the Public Health Service Milk
ordinance.
This ordinance has been used as a model since 1923.
The 632 communities using the model ordinance have a population of more than
18,000,000, or about one-third of the urban population of the United States.
Reports oh studies of Vitamin D, concentrated milk, labelling and other sub
jects will be made by the sub-committees which have been studying the problems
since last year's meeting of the milk Advisory Board.
Increasing the Vitamin D content of milk has been featured by various produ
cers.
Labelling and control of this product will be discussed.
Concentrated milk recently made its appearance.
Like evaporated milk, this
product is not subject to regulation under the model ordinance.
Inclusion of trade names on labels, heretofore not considered under the code,
will be the subject of a third report.
simple statement of milk grades.
Labels so far have been limited to a
-t2~
Members of the Board are:
. .
H.A. Whittaker, Chairman, State Health Department, Minneapolis; G.'A.
Abele, State Health Department, Montgomery, Ala.; Dr. Paul B, Brooks,
Deputy Commissioner of Health, Albany, N.Y.; V.M. Ehlers, State Board
of Health, Austin, Tex.; H.A. Kroeze, State Board of Health, Jackson,
Miss.; E.S. Tisdale, State Health Department, Charleston, W. Va,;
Dr. D .B, Peck, Chicago, representing milk dealers; Loomis Burrell,
Little Falls, N.Y., representing machinery manufacturers; Seth W.
Shoemaker, Scranton, Pa,, representing certified milk producers;
Ernest Kelly , U.S. Department of Agriculture, and Leslie C. Frank,
U.S. Public Health Service.
Chicago is the largest city adopting the code.
compact at the beginning of this year.
It entered into the
Since its entry, two other Illinois
cities, Decatur and Waukegan, have come under the agreement*
States where the code has found widespread support by local communities
include: Alabama,Florida, Kentucky, Louisiana, Mississippi, Missouri, North
and South Carolina, Oklahoma, Oregon, Tennessee, Texas and West Virginia.
Gadsden and Tuscaloosa, Alabama, were the first communities to adopt
the ordinance in 1923,
Among the larger cities under the milk code are: Montgomery, Ala.;
Phoenix, Ariz.; Little Rock,. Ark.; Jacksonville, Miami and St. Petersburg,
Fla,; Atlanta and Savannah, Georgia; Ottumwa, Iowa; Louisville, Lexington
and Paducah, Kentucky; Baton Rouge and Shreveport, Louisiana; Cumberland,
Md.; Kalamazoo, Mich.; Rochester, Minn.; Biloxi, Hattiesburg, Meridian and
Vicksburg, Mississippi; Jefferson City and St. Joseph, Missouri; Anaconda,
Mont.; Albuquerque and Santa Fe, New Mexico; Asheville, Charlotte, Durham,
Greensboro, Raleigh, Winston~Salem and Greenville, North Carolina; Fargo,
N.D.; Mansfield and Marion, Ohio; Portland, Ore.; Charleston, Beaufort,
Columbia and Spartanburg, South Carolina; Chattanooga, Knoxville and
Memphis, Tennessee; Dallas, El Paso, Ft. Worth, Beaumont, Galveston, Corpus
Christi, Houston, Austin, Wichita Falla and San Antonio, Texas; Salt Lake
City and Ogden, Utah; Suffolk, Va.; Walla Walla, Wash.; and Charleston,
Huntington, Wheeling and Parkersburg, West Virginia.
00O 00
Note to correspondents:
List of cities subscribing to above code available in Mr. GastonTs
office.
UNITED STATES SAY PISS BONDS
Sales “by States for the Period
March 1, 1935 to March 1, 1936
Maturity Value
State
Total 12 months
Illinois.......... ..................................................... $ 34.351.300.00
24,777,536.67
lew York..........
22.552.200.00
Ohio...............
19.837.225.00
District of Columbi
19.300.975.00
Missouri
18.113.750.00
Iowa.......
17.218.075.00
Pennsylvania
16,166,538.33
Minnesota...
15.573.200.00
Kansas......
14.783.700.00
Texas......
14.571.425.00
Michigan....
14.407.825.00
California..
12.943.625.00
Indiana....
12.202.275.00
Wisconsin...
9.250.625.00
Nebraska
6,248,000.00
Oklahoma.....
6.040.100.00
Massachusetts.
5.311.175.00
Washington....
5.300.575.00
lew Jersey....
4.954.425.00
Kentucky......
4.870.125.00
North Carolina
4.519.750.00
Oregon......
4.362.800.00
Colorado....
4.246.225.00
West Virginia
3.879.900.00
Tennessee....
3.857.175.00
Virginia....
3.810.075.00
Florida.....
3.696.375.00
Georgia.....
3.680.100.00
Montana......
3.416.375.00
North Dakota.
2.712.925.00
Arkansas..... .
2.688.400.00
Louisiana.....
2.670.625.00
South Dakota...
2.661.775.00
Maryland..... .
2.411.900.00
Mississippi....
1.936.650.00
Alabama.... ...
1.847.275.00
South Carolina.
1.454.825.00
Connecticut....
1.285.900.00
Maine........
1.068.100.00
Utah......... .
1,049,800.00
I daho.... .
817,650'. 00
Wyoming......
790.425.00
New Mexico....
786,000.00
Arizona......
778.050.00
New Hampshire.
776.900.00
Rhode Island..
544.750.00
Vermont.... ..
435.050.00
Nevada.......
242.725.00
Hawaii.......
157.125.00
Delaware.... .
100.625.00
Alaska.......
60.175.00
Puerto Rico...
33.900.00
Virgin Islands
6,375.00
Samoa........
600.01
Guam.........
'
TOTAL
$361,561,975.00
- 3 Redemptions from March 1, 1935 to April 15, 1936 total
?,
111 <rro
, or
approximately 2 ^ of the total sales.
An owner of a United States Savings Bond may not only redeem his Bond in
full, at any time after sixty days from issue date, hut if he is the owner of a
hond with a greater face value than the minimum face value of $25, he may, in
units of $25, maturity value, redeem any portion of his hond and new bonds for
the remainder, dated hack to correspond with the original hond, will he issued.
On March 4, 1936, the Secretary of the Treasury issued, because of the in
creasing volume of sales, an order creating the Division of Savings Bonds of
the Treasury Department.
This Division comes under the supervision of Mr. Wayne
C. Taylor, Assistant Secretary of the Treasury, in charge of fiscal affairs.
Maturity value of sales of United States Savings Bonds in the several
States and Possessions, March 1st, 1935 to March 1st, 1936, arranged in the
order of their total sales for the first year were:
-
2
-
United States accompanied by personal check.
The new plan will expedite issuance of savings bonds to purchasers tendering
personal checks.
Postmasters will furnish envelopes, addressed to the appropriate
Federal Reserve Bank to those purchasers who tender personal checks.
Such patrons
will be advised to draw checks to the order of the Treasurer of the United States.
The new service will aid those who hesitate to carry cash on their persons
in order to purchase savings bonds at local Post Offices.
The situation which resulted in some quarters, when at first World War Adjusted Coffipen^arte4?Q&»«gbonds were confused with United States Savings Bonds, is
clearing, according to .indications.
As the ^§mpe'i>sg>f4 ^ »n bonds to be issued in
the denomination of $50, and United States Savings Bonds, issued in denominations
of $25, $50, $100, $500 and $1,000, are both popularly referred to as “Baby
Bonds“ some confusion existed.
They are, of course, two separate issues.
A tabulation of sales by States for the first full year of savings bond
offerings indicates that the State of Illinois leads the country in sales in the
amount of $34,351,300, maturity value.
Hew York State is second with $24,777,536.
Ohio is next in order.
The Secretary of the Treasury emphasizes that the thousands of investors
who made the legal maximum purchase during the calendar year 1935 ($10,000
maturity value for any one calendar year) are eligible to make similar maximum
purchases for the calendar year 1936.
This holds true whether the purchase is
made for individual holdings or whether the bonds are purchased by trustees or
guardians for estates or institutions.
The fixed cash redemption values, which are never less than the purchase
price, are printed on the face of each United States Savings Bond.
These fixed redemption values remove these securities from any possibility
of price fluctuation and permit the investor to plan for definite amounts for
specific future needs on or before the maturity of the bonds.
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
Press Service
7
"2- J
The Secretary of the Treasuryan^unced that the four hundred million dollar
mark, maturity value, for sales of savings bonds had been passed.
¡¡¡Ijk
Since the 3***
eerH m m of these bonds on March 1, 1935 through April 18, 1936, cash sales of
$310,081,930.96 have been received.
As savings bonds are sold on a discount
basis and increase in ten years through accumulated interest to a total 33-1/3fo
greater than the purchase price, this cash sale represents a maturity value of
approximately $413,442,574.62.
During the first year in which savings bonds were offered to the public,
March 1, 1935 to March 1, 1936, sales amounted to a maturity value of approx
imately $361,561,975.00.
The January 1936 sales are the largest for any month to date, representing
a maturity value of $61,864,933.59.
The highest daily record was reached on
January 13, 1936 when receipts by the Treasurer of the United States for savings
bonds represented a maturity value of $4,313,874.08 for this single day.
The average sale of savings bonds, including direct-by-raail sales for each
working da;/ since the bonds were first offered, averages in excess of
$1,000,000.00, maturity value.
The Secretary of the Treasury also announced today that, supplementing the
sale of United States Savings Bonds by the Post Offices, arrangements have been
made and agreed upon whereby the Federal Reserve Banks are also designated sales
agents.
The Reserve Banks will issue the savings bonds upon application by mail
on order blanks furnished by all postmasters.
The Reserve Banks will accept
personal checks, subject to collection, in payment of the issue prices.
Appli
cation for savings bonds may also be made by mail to the Treasurer of the
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Monday, April 27, 1936.________
4-24-36.
Press Service
No.’ 7-25
The Secretary of the Treasury today announced that the four hundred million
dollar mark, maturity value, of sales of Savings Bonds had been passed.
Since
the first issuance of these "bonds on March 1, 1935 through April 18, 1936, cash
sales of $310,081,930.96 have been received.
As Savings Bonds are sold on a
discount basis and increase in ten years through accumulated interest to a total
33-1/3$ greater than the purchase price, this cash sale represents a maturity
value of approximately $413,442,574.62.
During the first year in which Savings Bonds were offered to the public,
March 1, 1935 to March 1, 1936, sales amounted to a maturity value of approx
imately $361,561,975.00.
The January 1936 sales are the largest for any month to date, representing
a maturity value of $61,864,933.59.
The highest daily record was reached on
January 13, 1936, when receipts by the Treasurer of the United States for Savings
Bonds represented a maturity value of $4,313,874.08 for this single day.
The average sale of Savings Bonds, including direct-by-mail sales for each
working day since the bonds were first offered, averages in excess of
$1,000,000.00, maturity value.
The Secretary of the Treasury also announced that, supplementing the sale
of United States,Savings Bonds by the Post Offices, arrangements have been made
and agreed upon whereby the Federal Reserve Banks are also designated sales
agents.
The Reserve Banks will issue the Savings Bonds upon application by mail
on order blanks furnished by all postmasters.
The Reserve B anks will accept
personal checks, subject to collection, in payment of the issue prices.
Applica
tion for Savings Bonds may also be made by mail to the Treasurer of the United
~2~
States accompanied, by personal check.
The new plan will expedite issuance of Savings Bonds to purchasers tendering
personal checks.
Postmasters will furnish envelopes addressed to the appropriate
Federal Reserve Bank to those purchasers who tender personal checks.
Such pat
rons Will be advised to draw checks to the order of the Treasurer of the United
States.
The new service will aid those who hesitate to carry cash on their persons
in order to purchase Savings Bonds at local Post Offices.
The situation which resulted in some quarters, when at first World War
Adjusted
Service
Bonds were confused with United States Savings Bonds, is
clearing, according to indications.
As Adjusted Service bonds to be issued in
the denomination of $50, and United States Savings Bonds, issued in denominations
of $25, $50, $100, $500 and $1,000, are both popularly referred to as HBaby
Bonds11 some confusion existed.
They are, of course, two separate issues.
A tabulation of sales by States for the first full year of Savings Bond
offerings indicates that the State of Illinois leads the country in sales in the
amount of $34,351,300, maturity value.
New York State is second with $24,777,536.
Ohio is next in order.
The Secretary of the Treasury emphasizes that the thousands of investors
who made the legal maximum purchase during the calendar year 1935 ($10,000
maturity value for any one calendar year) are eligible to make similar maximum
purchases for the calendar year 1936.
This holds true whether the purchase is
made for individual holdings or whether the bonds are purchased by trustees or
guardians for estates or institutions.
The fixed cash redemption values, which are never less than the purchase
price, are printed on the face of each United States Savings Bond,
These fixed redemption values remove these securities from any possibility
of price fluctuation and permit the investor to plan for definite amounts for
specific future needs on or before the maturity of the bonds.
Redemptions from March 1, 1935 to April 15, 1936 total $7,900,000, or
approximately 2~l/25& of the total sales.
An owner of a United States Savings Bond may not only redeem his bond in
full, at any time after sixty days from issue date, hut if he is the owner of
a bond with a greater face value than the minimum face value of $25, he may,
in units of $25, maturity value, redeem any portion of his bond and new bonds
for the remainder, dated back to correspond with the original bond, will be
issued.
On March 4, 1936, the Secretary of the Treasury issued, because of the
increasing volume of sales, an Order creating the Division of Savings Bonds of
the Treasury Department.
This Division comes under the supervision of
Mr. Wayne C. Taylor, Assistant Secretary of the Treasury, in charge of fiscal
affairs.
Maturity value of. sales of United States Savings Bonds in the several
States and Possessions, March 1st, 1935 to March 1st, 1936, arranged in the
order of their total sales for the first year were:
-4UNITED STATES SAVINGS BONDS
Sales by States for the Period March 1. 1935 to March 1, 1936
Maturity Value
State
Total 13 months
Illinois-- ---------- _ _ ____ __________________
$ 34,351,300.00
New Y o r k --------------------------------------24,777,536.67
O h i o ------ ---------------------------- ------ _
22,552,200.00
District of Columbia (includes mail order sales) 19,837,225.00
19,300,975.00
Missouri-----------.--------- -------------------Iowa ------------ --------_
18,113,750.00
Pennsylvania _ _ _ _ _ _ _ ____ _ _ _ _ _ __ _ _
17,218,075.00
Minnesota—
16,166,538.33
Kansas---------------------------- _ _ ,
---------15,573,200.00
T e x a s ---------------14,783,700.00
Michigan---------- --- -- _ ______ ____________
14,571,425.00
14,407,825.00
California---------Indiana - --------—
-------------------- _ _ _
12,943,625.00
Wisconsin---------12,202,275.00
Nebraska 9,250,625,00
Oklahoma - - - - .------------------------ , ---- J
6,248,000.00
Massachusetts- _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
6,040,100*00
Washington
5,311,175,00
New Jersey
5,300,575,00
Kentucky - ---- --------------------4,954,425,00
North Carolina
4,870,125.00
Oregon - -----------4,519,750,00
Colorado _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
4,362,800,00
West Virginia- _ - -- _ _ _ _ _ _ __ _ _ _ _ _ _
4,246,225,00
Tennessee3,879,900.00
Virginia------------ ----- --------- . -------- -3,857,175.00
Florida
3,810,075.00
Georgia -- _ _ _ -- _ _ _ _ _ _ _ _ _ _ __ _ _
3,696,375.00
Montana - - - -- _ _ _ _ _ _ _ __ _ _ _ _ _ _ _
3,680,100.00
North D a k o t a ---------------3,416,375,00
Arkansas
-- _ _ _ _ _ _ _ _ _ _ _ _
2,712,925,00
Louisiana _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2,688,400.00
South Dakota ------------------------------------2,670,625.00
Maryland
---------2,661,775.00
Mississippi-----------------------2,411,900^00
Alabama------------------------------------------1,936,650.00
South Carolina---------------------------------1,847,275.00
Connecticut--------------------------------------1,454,825,00
Maine--------------------------------------------1,285,900.00
U t a h -------------------------- . ----------------1,068,100.00
Idaho--------------------------------------------1,049,800.00
Wyoming---------------------------------- . _ _ _ _
817,650.00
New Mexico --------------------------------------790,425,00
A r i z o n a ---- -----------------------_ _ ---------786,000,00
New Hampshire------------------------------------778,050,00
Rhode Island - ----------------------------------776,900.00
Vermont ---------------------------544,750,00
Nevada
-------------------_ -------------------435,050.00
Hawaii
---------------------- ------------------242,725.00
Delaware - -----------157,125.00
A l a s k a ---- -----------------------------------100,625.00
Puerto Rico------60,175,00
Virgin Islands ----------------------------------33,900,00
S a m o a -----------------------------6,375.00
Guam---------600.00
TOTAL
$361,561,975.00
TREASURY DEPARTMENT
Washington
April 27, 1936.
MEMORANDUM FOR THE PRESS
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended April 24, 1936:
Philadelphia,, | ......... .......................
San FrancispP/...... .............................
Denver. .4*. ,V ....................................
Total for wppk ended April 24, 1936. ...... ........
Total receipts through April 24, 1936.............
438,083.03 fine ounces
966,549.89
7,672.98
1,412,305.90
79,279,893.84
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended April 24, 1936.:
Philadelphia .....................................
. .................. .. ..
New York ........ ......
San Franci sco............ ........................
Denver ................ .......... ...............
New Orleans.......... .. ........ .. ....... ........
Seattle .......... .............................
Total for week ended April 24, 1936 ...............
Total receipts through April 24, 1936............. .
5,152.00 fine oünc
ti
h
1,035.85
t
i
if
4,109.00
n
1
436.84
10,733.69
112,749,171.49
H
ft
n
w
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended April 24, 1936:
Imports_______ Secondary
Domestic
Philadelphia.... ...................$
6,383.30 $123,961.06 $
423.05
New York ..... .................... 4,577,100.00 184,100.00
90,400.00
San Francisco......................
139,091.93
41,166.75 1,604,439.91
Denver........ ...... ..............
52,020.56 14,266.28
575,864,38
New Orleans .............. .
- - - - 26,169.06
- - - - - 43„397.,53
Seattle............... ,........... 14,201.31
Total for week ended April 24, 1936., .$4,774,595.79 $403,864.46 $2,314,524..87
COLD RECEIVED BY FEDERAL RESERVE BANKS AND THE 'TREASURER* S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks: Gold Coin
Week ended April 22........ ... .ijj
16,291.56
Received previously.
...... 31,456,360.13
Total to April 22,.... .........$31,472,651.69
Received by Treasurer’s Office;
Week ended April 22,.... ,....*.$ - - - - - Received previously, *...........
267,756.00
Total to April 22........... ..,$
267,756.00
NOTE:
G-old Certificates
$
247,240.00
106,398,140.00
$106,645,380.00
$
I
Gold bars deposited with the New York Assay Office
in the amount of $200*572.69 previously reported.
9,800.00
2.424,820.00
2,434,620.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, April 28, 1936._____
4/27/36
Press Service
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50*000*000* or thereabouts*
of 273-day Treasury bills* dated April 29* 1936* and
maturing January 27* 1937* which were offered on April 24
were opened at the Federal Eeserve banks on April ill
The total Mount applied for was $117*746*000* of
which $50*116*000 was accepted# Except for one bid of
$15*000* the accepted bids ranged in price from 99*940*
equivalent to a rate of about 0*079 percent per annum*
to 99*929* equivalent to a rate of about 0*094 percent
per annum* on a bank discount basis* The average price
of Treasury bills to be issued is 99*933 and the average
rate is about 0*089 percent per annum on a bank discount
basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, April 28, 1936»________
4-27-36.
Press Service
No. 7-26
Secretary of the Treasury Morgenthau announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury bills, dated April 29, 1936,
and maturing January 27, 1937, which were offered on April 24, were opened at the
Federal Reserve banks on April 27.
The total amount applied for was $117,748,000, of which $50,110,000 was
accepted.
Except for one bid of $15,000, the accepted bids ranged in price from
99.940, equivalent to a rate of about 0.079 percent per annum, to 99.929,
equivalent to a rate of about 0.094 percent per annum, on a bank discount basis.
The average price of Treasury bills to be issued is 99.933 and the average rate
is about 0.089 percent per annum on a bank discount basis.
ooOoo
TREASURY DEPARTMENT
Washington
For Immediate Release
4/28/36
Press Service
No.
Secretary Morgenthau lias authorized
resume
the Mint to x e k x x the practice of issuing proof
to be sold to the public either singly or in sets,
coins
.
Proof coins are stamped from polished
disks with dies carefully cleaned to avoid any possible
flaws, and with the completed coins removed by hand to
United States Mint at Philadelphia. The charges
these coins,
for
in addition to the face value and
postage of 80, will be as follows:
500
250
100
50
10
piece
piece
piece
piece
piece
----------
250
250
100
150
150
No proofs of silver dollars will be made
unless a substantial coinage is authorized later.
Charges collected for the proofing of coins will
be turned into the Treasury as miscellaneous receipts.
m
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
4/28/36
#
*
Press Service
No. 7-27
Secretary Morgenthau has authorized the Mint to resume the
practice of issuing proof coins to be sold to the public either
singly or in sets.
Proof coins are stamped from polished disks with dies care
fully cleaned to avoid any possible flaws, and with the completed
coins removed by hand to eliminate possible mars.
Such coins were
previously issued as collection pieces and souvenirs but the prac
tice was discontinued about 20 years ago.
Proof coins will be issued only at the United States Mint
at Philadelphia.
The charges for these coins, in addition to the
face value and postage of 8/, will be as follows:
50/ piece ----25/
u
------10/
"
— ---5/
”
— ----1/
»
-------
25/
25/
10/
15/
15/
N# proofs of silver dollars will be made unless a substan
tial coinage is authorized later.
Charges collected for the proofing of coins will be turned
into the Treasury as miscellaneous receipts.
oOo
By
collection districts, total collections and
assessments are reported for the periods'noted, as follow
San Francisco, 34 weeks
$560,996.80
Los Angeles, 34 weeks
810,467.97
Chicago, 33 weeks
959,243.32
New Orleans, 33 weeks
67,048.34
Baltimore, 33 weeks
72,893.60
Washington, 33 wreeks
50,983.86
Boston, 33 weeks
19,457.10
Detroit, 33 w7eeks
226.215.67
St. Paul, 33 weeks
126.310.51
St. Louis,33 weeks
372.639.52
Kansas City, Mo., 33 weeks
125.043.68
Newark, 33 weeks
283,005.94
Brooklyn, 35 weeks
125,676.92
Second New York (Customhouse) 35 weeks ■ 3,352,427.88
Third New York (341 9th Ave) 35 weeks
2,106,800.73
Buffalo, 34 weeks
102,498.58
Cincinnati, 33 weeks
169,783.79
Cleveland, 33 weeks
Philadelphia, 33 weeks
93,070.87
159,382.52
Pittsburgh, 34 weeks
82,069.17
Tacoma-Seattle, Wash., 33 weeks
67,249.95
Milwaukee, 33 weeks
418,348.10
*
\
More than $10,000,000 has been found to he due the
United States as the result of operations to date of the
Miscellaneous Tax project, it was
announced today.
Collections
far exceed the cost of the project.
This project was inaugurated
during August, 1935,
with a Works Progress Administration allotment of $2,448,290.80.
Approximately 1,800 relief workers, mutxx trained
and supervised by permanent employes of the Internal Revenue
Service, were assigned to twenty-two Internal Revenue collection
districts, comprising twenty metropolitan areas. Intensive
inspections were made of the books of furriers, manufacturing
jewelers, sporting goods manufacturers, cosmetics manufacturers
and enterprises subject to taxes on admissions and dues.
A report to Secretary of the Treasury Morgenthau
by the Commissioner of Internal Revenue, covering operations
in individual cities for periods ranging from 33 to 35 weeks,
summarizes operations to April 17, 1936, as follows:
Total collections and assessments
$10,351,614.94
Total collections to date
2,436,527.16
Total expense (Salaries, rent
and miscellaneous expenses)
1,370,780.66
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Thursday, April 30, 1936,
4/28/36“
- t-—
;
Press Service
No, 7*28
More than $10,000,000 has been found to be due the United States
as the result of operations to date of the Miscellaneous Tax project,
it was announced today.
Collections far exceed the cost of the project.
This project was inaugurated during August, 1935, with a Works
Progress Administration allotment of 02,448,290,80,
Approximately 1,800 relief workers, trained and supervised by
permanent employees of the Internal Revenue Service, were assigned to
twenty-two Internal Revenue collection districts, comprising twenty
metropolitan areas.
Intensive inspections w e r e made of the books of
furriers, manufacturing jewelers, sporting goods manufacturers, cosmetics
manufacturers and enterprises subject to taxes on admissions and dues,
A report to Secretary of the Treasury Morgenthau by the Commissioner
of Internal Revenue, covering operations in individual cities for periods
ranging from 33 to 35 weeks, summarizes operations to April 17, 1936,
as follows:
Total collections and assessments ... $10,351,614*94
Total collections to date ........ ..
2,436,527,16
Total expense (Salaries, rent and
miscellaneous expenses) .........
1,370,780.66
By collection districts, total collections and assessments are
reported for the periods noted, as follows:
San Francisco, 34 weeks ....................
Los Angeles, 34 weeks
..... .........
Chicago, 33 Weeks .............
New Orleans, 33 weeks ...........
$
560,996*80
810,467.v97
• 959,243^32
67,048*34
- 2 ~
Baltimore, 33 weeks .......... ........ <... $
72,893,60
Washington, 33 weeks
.................
50,983,86
Boston, 33 weeks ............ ........U ...
19,457.10
Detroit, 33 weeks . .1................. .
226,215.67
St. Paul, 33 w e e k s .... .................
126,310.51
St. Louis, 33 weeks ................. .....
372,639,52
Kansas City, Lio., 33 weeks ......... ......
125,043.62,
Newark, 33 weeks ...................... ...
283,005.94
Brooklyn, 35 weeks ..............
125,676;92
.
Second New York (Customhouse)35 weeks ....
3,352,427.88
Third New York (341 - 9th Awe.) 35 weeks .. 2,106,800.73
Buffalo, 34 weeks .........................
102,498.58
Cincinnati, 33 weeks ......................
169,783.97
Cleveland, 33 weeks .......................
93,070.87
Philadelphia, 33 weeks ....................
159,382,52
Pittsburgh, 34 weeks ...................
82,069.17
Tacoma-Seattle, Washington , 33 weeks .....
67,249,95
Milwaulcee, 33 weeks .......................
418,348,10
— oOo—
TREASURY DEPARTMENT
Washington
May 4„ 1936.
MEMORANDUM POR THE PRESS
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OPPICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended May 1, 1936:
Philadelphia...... *.............................
San Francisco
............. . .
Denver..:................ .........................
Total for week ended May 1, 1936...... .............
Total receipts through May 1, 1936.............. .
166,988.84 fine ounces
244,500.44
”
u
7.450.83
"
"
418,940.11
”
,f
79,698,833.95
11
”
SILVER TRANSFERRED TO UNITED STATES’:
(Under Executive Proclamation of August 9, 1934)
Week ended May 1, 1936:
Philadelphia ...................
New Y o r k .... .................
San Francisco......... .........
Denver............... .
New Orleans.....................
Seattle...... ...............
Total for week ended May 1, 1936..
Total receipts through May 1, 1936
5.816.00 fine ounces
4,684.25
»
»
1.130.00
»
»
983.18
»
»
12,613.43
112,761,784.92
"
»
’’
»
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended May 1, 1936:
Imports________ Secondary
Domestic
Philadelphia....... ............$
10,824.10 $110,384.13 $
951.51
New York..... .... ......... ... 11,257,100.00
256,800.00
251,200.00
1,458,185.05
48,472.88 1,052,104.61
San Francisco..................
Denver....... .......... ........
...........
21,263.10
646,238.68
New Orleans...... .............
*.
~ - ~
13,263.11 - - - - - ~
Seattle. ............ .........
..........
15,272.42
298,967.36
Total for week ended May 1, 1936..$12,726,109.15 $465,455.64 $2,249,462.16
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Week ended April 29............. $
38,043.66
Received previously. ..... .
31,472,651.69
Total to April 29......... ..... $31,510,695.35
Received by Treasurer’s Office:
Week ended April 29....... .... $
Received previously.........
Total to April 29..... .........$
NOTE;
300.00
267,756.00
268,056.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
G-old Certificates
$
426,680.00
106,645,380.00
$107,072,060.00
$
$
8,500.00
2,434,620.00
2,443,120.00
m¿kSOHT D E F A R m H T
Washington
rm
rfuíase, m m m a w
»
m
ptsss
smie«
^
Seeretary ©f th© ®r©asury Moxgeathau
m m m nem ñ.
Xast evening that tita tendera
for t«o series ©f TT©a#©ry bilis, to be datad May 6, ItiS, «hich «ere cf fered <m
May XP «are opened at th© Federal Beserv© ba&ks ©a May 4 » 1934«
h a dara «ara invitad for Mía t«D «aria« to th© agregóte ancnint ©f
$100,000,000, or thereebouts, and £188,517,000 «aa appllsd for, ©f «hleh
#100,136,000 «aa aooepted.
389- M Y
Ths dataiXa of th# tu© series ara as follosas
tm k & m
B IM S m
W
»
PMOBMBgH 16. 1936
For tilla savias, whiefc «aa for $30,000,000, ©r thereabottts, th© totaX snount
applied for «aa $94,699,000, of «hieh #60,034,000 «as aeeepted.
The aoeeptad
blds rasgad la priee fro» 99.990, © q u t m l m t to a rato of abottt 0.0S1 pereent per
annm, to 99.9X9, e<ptival©iit to a rata ©f about 0.X40 pereaat per anal»,
bt&ife diseomit tesis.
Oaly part of th© m i l
m
a
bid for at th© Xattor prisa «as
aoeaptod• The aver&ge prisa of ISraasary bilis of thia serias to ha iaaued is
99.934 *»b 4 lte atarago rata is aboat 0.12S pereent par agu&ss eras a haak disoount
b&sls.
TRBA3UKY BXI&S« MftSORBP C
T
M
9« 1937
For th ia:- serles, «lti«h «na for #80,000,000, « * thereabonts, the total awmnt
applied f<w «aa #93,918,000, of «Ule* #80,108,000 «aa aooapted.
» a aoeepteí
914a rasgad la priee fro. 99.940, equivalen* to a rato of atoa* 0.079 psroent p*
unnua, to 99.898, eqttivalent to a rato of aboat 0.138 peraeat per asma, oa a
\,a«v dlaeoaat beala.
aeeaptad.
Oaly part of tke aatount M d for at tita latter priee «a*
tfea avarage priee of Sreaaary fcllle of thie atarles to 9# lealtad i*
99.906 n t the atara«» rate le aboat 0.188 pereent per aamm oa a bank dleeomt
b&sls*
TREASURY DEPARTMENT
Washington
iOR RELEASE, MORNING NEWSPAPERS,
Tuesday, M a y .5, 1926.
5-4-36.
Press Service
No. 7-29
, ________
Secretary of the Treasury Morgenthan announced last evening that the tenders
for two series of Treasury "bills, to he dated May 6, 1936, which were offered on
May 1» were opened at the Federal Reserve hanks on May 4, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $188,517,000 was applied for, of which
$100,126,000 was accepted.
The details of the two series are as follows:
223-DAY TREASURY 3 ILLS, MATURING DECEMBER 15, 1936
For this series, which wa.s for $50,000,000, or thereabouts, the total amount
applied for was $94,599,000,_of which $50,024,000 Was accepted.
The accepted
"bids ranged in price from 99.950, equivalent to a.,rate of about 0,081 percent per
annum, to 99.913, equivalent to a rate of about 0.140 percent per annum, on a
tank discount basis.
accepted.
Only part of the amount bid for at the latter price was
The average price of Treasury bills of this series to be issued is
99,924 and the average rate is about 0.123 percent per annum on a. bank discount
basis.
273-DAY TREASURY BILLS, MATURING FEBRUARY 3, 1937
For this series, ?/hich was for $50,000,000, or thereabouts, the total amount
applied for was $93,918,000, of which $50,102,000 was accepted.
The accepted
tids ranged in price from 99.940, equivalent to a. rate of about 0.079 percent per
annum, to 99.895, equivalent to a. ra.te of about 0.138 percent per annum, on a, bank
discount bands.
Only part of the amount bid for at the latter price wa.s accepted,
The average price of Treasury bills of this series to be issued is 99.905 and
he average ra.te is about 0.125 percent per annum on a bank discount basis.
ooOoo
May
1936.
My dear Senator:
Yesterday, part of the statement which I made before your Committee on
April 30 was challenged.
The particular part of the statement was the
following:
’’The Department has also estimated that under the present
law more than four and one-half billion dollars of corporation
income in the calendar year 1936 will be withheld from stock
holders and that if this income were fully distributed to the
individual owners of the stock represented in these corporations,
the resultant yield in additional individual income taxes would
he about one billion three hundred millions.”
I
can see that the phrase ’’withheld from stockholders” was possibly
open to misunderstanding^inasmuch as the figure $1,300,000,000 was arrived
at after we had deducted from the $4,500,000,000 an amount equal to the ex
isting corporation taxes.
What J have just said about a possible ambiguity in the use of this
term relates to one of my arguments on the merits of the proposed corporate
tax, not at all to my statement of the Treasury’s estimate of what this tax
v/ould yield. That estimate is 623 million dollars additional revenue.
Sincerely yours,
(Signed) HENRY MORCrMTHAU, JR.
Secretary of the Treasury.
Honorable Pat Harrison,
Chairman, Senate Finance Committee
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
APRIL 1936
Date of
Failure:
Receiverships:
Farmers National Bank, Laurens, S« C#
First National Bank, Manchester, Iowa
Farmers National Bank, Oskaloosa, Iowa 1/
First National Bank, Indianola, Iowa
National Bank of Lynwood, California
12-16-30
2-13-29
4-9-30
8-20-32
5-29-31
First National Bank, peetz, Colorado
First National Bank, Mullens, W# Va#
McDowell County Hatfl Bank, Welch, W. Va# 1/
First National Bank, Punta Gorda, Florida ""
First National Bank, Lincoln, Alabama
First National Bank, Sweet springs, Missouri
1/
Total
Disbursements
including
Offsets Allowed;
|
per Cent
Total
Returns
to all
Creditors*
per cent
Dividends
paid
Unsecured
Depositor!
81,361#00
520,851#00
70,403.00
392,370.00
203,899.00
63.47
83.92
70.4
85#85
83.47
27.79
80*91
70.4
75.6597
43.35
9—24—32
1-16-28
10-25-32
8-24-31
12-1-32
66,493.00
176,874.00
218,488.00
331,830.00
37,310.00
81.24
73.84
76.77
72.37
65.58
44.9
62.28
67.6154
67.24
11,95
8-24-31
82,255,00
71.83
67.72
Receiver appointed to levy and collect stock assessment covering
deficiency in value of assets sold, or to complete unfinished liquidation#
/
The First National- Bank of Punta Gorda, Florida, in receivership August
24> 19315 disbursements, including offsets allowed, to depositors and other
creditors aggregated $331,830.00, which represented 72,37 per cent of total li
abilities.
Unsecured depositors received dividends amounting to 67.24 per cent
of their claims.
The First National Bank of Lincoln, Alabama, in receivership December 1,
19325 disbursements, including offsets allowed, to depositors and other credi
tors aggregated $37 ,310.00, which represented 65*58 per cent of total liabili
ties.
Unsecured depositors received dividends amounting to 11.95 per cent of
their claims.
The First National Bank of Sweet Springs, Missouri, in receivership August
24, 1931> disbursements, including offsets allowed, to depositors and other cred
itors aggregated $82,255*00, which represented 71.83 per cent of total liabili
ties.
Unsecured depositors received dividends amounting to 67.72 per cent of
their claims.
Dividend payments during April, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $4>418,423*00.
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $721,240,382.00.
- 2 -
The First National Bank of Indianola, Iowa, in receivership August 20,
1932; disbursements, including offsets allowed, to depositors and other credi
tors aggregated 1392,370.00, which represented 85.85 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 75*6597 per cent
of their claims.
The National Bank of Lynwood, California, in receivership May 29, 1931;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $203,899*00, which represented 83*4-7 per cent of total liabilities.
Unsecured depositors received dividends amounting to 4-3*35 per cent of their
claims.
The First National Bank of Peetz, Colorado, in receivership September 24-,
1932; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $66,4-93*00, which represented 81.24- per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 4-4*9 per cent of
their claims.
The First National Bank of Mullens, West Virginia, in receivership Janu
ary 16, 1928; disbursements, including offsets allowed, to depositors and other
creditors aggregated $176,874.00, which represented 73*84 Per cent of total li
abilities.
Unsecured depositors received dividends amounting to 62.28 per cent
of their claims*
The McDowell County National Bank of Welch, West Virginia, in receivership
October 25, 1932, the liabilities of the institution having theretofore been
assumed by another bank.
The receiver was appointed for the purpose of collect
ing an assessment against the stockholders to cover a deficiency in the assets
sold.
Disbursements during receivership, including offsets allowed, aggregated
$218,488.00, which represented 76.77 per cent of total liabilities*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
7 •
The Comptroller a t the Currency, J. F. T. 0*Connor, today announced the
completion of the liquidation of 11 receiverships during April, 1936, making
a total of 374 receiverships finally closed or restored to solvency since the
so-called banking holiday of March, 1933*
Total disbursements, including off
sets allowed, to depositors and other creditors of these 374 institutions, ex
clusive of the 42 receiverships restored to solvency, aggregated $104,143,226,
or an average return of 75*04 per cent of total liabilities, while unsecured
depositors received dividends amounting to an average of 60,14 per cent of their
claims•
The Farmers National Bank of Laurens, South Carolina, in receivership Decem
ber 16, 1930| disbursements, including offsets allowed, to depositors and other
creditors aggregated $81,361,00, which represented 63*47 per cent of total lia
bilities,
Unsecured depositors received dividends amounting to 27*79 per cent of
their claims.
The First National Bank of Manchester, Iowa, in receivership February 13,
1929; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $520,851.00, which represented 83*92 per cent of total liabili
ties.
Unsecured depositors received dividends amounting to 80.91 per cent of
their claims.
The Farmers National Bank of Oskaloosa, Iowa, in receivership April 9, 1930;
the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stock holders to cover a deficiency in the assets sold.
Disburse
ments during receivership, including offsets allowed, aggregated $70,403.00,
represented 70.4 per cent of total liabilities.
w h ic h
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Saturday, May 9. 1936,__________
5-6-36.
Press Service
No. 7-30
The Comptroller of the Currency, J.F.T. O ’Connor, today announced the com
pletion of the liquidation of 11 receiverships during April, 1936, making a total
of 374 receiverships finally closed or restored to solvency since the so-called
banking holiday of March, 1933.
Total disbursements, including offsets allowed,
to depositors and other creditors of these 374 institutions, exclusive of the
42 receiverships restored to solvency, aggregated $104,148,226, or an average
return of 75.04 per cent of total liabilities, while unsecured depositors received
dividends amounting to an average of 60.14 per cent of their claims.
The Farmers National Bank of Laurens, South Carolina, in receivership Decem
ber 16, 193(p; disbursements, including offsets allowed, to depositors and other
creditors aggregated $81,361.00, which represented 63.47 per cent of total lia
bilities.
Unsecured depositors received dividends amounting to 27,79 per cent of
their claims.
The First National Bank of Manchester, Iowa, in receivership February 13,
1929j disbursements, including offsets allowed, to depositors and other creditors
aggregated $520,851..00, which represented 83.82 per cent of total liabilities.
Unsecured depositors received dividends amounting to 80.91 per cent of their
claims.
The Farmers National Bank of Oskaloosa, Iowa, in receivership April 9, 1930;
the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $70,403.00, which
represented 70.4 per cent of total liabilities*
The First 'National Bank of India,nola, Iowa, in receivership August 20, 1932;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $392,370.00, which represented 85.85 per cent of total liabilities.
Unsecured depositors received dividends amounting to 75.6597 per cent of their
claims*
The National Bank of Lynwood, California, in receivership May 29, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggre-?
gated $203,899.00, which represented 83.47 per cent of total liabilities.
Unser
cured depositors received dividends amounting to 43.35 per cent of their claims.
The First National Bank of Peetz, Colorado, in receivership September 24,
1932; disbursements, including offsets allowed, to depositors and other creditors
aggregated $66,493.00, which represented 81.24 per cent of total liabilities*
Unsecured depositors received dividends amounting to 44.9 per cent of their claims
The First National Bank of Mullens, West Virginia, in receivership January
16, 1928; disbursements, including offsets allowed, to depositors and other
creditors aggregated $176,874.00, which represented 73.84 per cent of total lia
bilities.
Unsecured depositors received dividends amounting to 62.28 per cent of
their claims.
The McDowell County Nation,al Bank of Welch, West Virginia, in receivership
October 25, 1932, the liabilities of the institution having theretofore been
assumed by another bank.
T^e receiver was appointed for the purpose of collecting
an assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated
$218,488.00, which represented 76.77 per cent of total liabilities.
The First National Bank of Punta G-orda, Florida, in receivership August 24,
1931; disbursements, including offsets allowed, to depositors and other creditors
aggregated $33.1 ¿830.00, which represented 72.37 per cent of total liabilities.
Unsecured depositors received dividends amounting to 67.24 per cent of their
claims
The First National Bank of Lincoln, Alabama, in receivership December 1, 1932;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $37,310.00, which represented 65.58 per cent of total liabilities.
Unsecured depositors received dividends amounting to 11.95 per cent of their claims
The First National Bank of Sweet Springs, Missouri, in receivership August
24, 1931; disbursements, including offsets allowed, to depositors and other credit
ors aggregated $82,255.00, which represented 71.83 per cent of total liabilities.
Unsecured depositors received dividends amounting to 67.72 per cent of their claims
Dividend payments during April, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $4,418,423.00.
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $721,240,382.00.
INSOLVENT HATIOHAL BANES LIQUIDATED ADD ElHALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
APRIL 193-6
Dat e of
Failure:
Receiverships:
12- 16-30
Farmers National Bank, Laurens, S. C.
First National Bank, Manchester, Iowa
Farmers National Bank, Oskaloosa, Iowa i f
First National Bank, Indianola, Iowa
National Br
ohk of Lynwood, California
2-13-29
u-9-30
S-20-32
5-29-31
First National Bank, Peetz, Colorado
First National Bank, Mullens, W. Va.
McDowell County Nat!l. Bank, Welch, W.Va. ]_/
First National Bank, Punta Gorda, Florida
First National Bank, Lincoln, Alabama
9-2H-32
1-16-2S
10-25-32
S-2U-31
12- 1-32
First National Bank, Sweet Springs, Missouri
S-2U-31
1/
Total
Disbursements
including
Offsets Allowed:
$
si,361.00
520,S51.00
70,U03.00
392,370.00
203,S99.00
Per Cent
Total
Returns
to all
Creditor
63.^7
S3.92
70.U
S5.25
S3 .U7
Per Cent
Dividends
Paid
Unsecured
Depositors:
27.79
SO .91
70. H
75.6597
^3.35
21S,USS.OO
33i.S3O.OO
37,310.00
SI.2U
73.84
76.77
72.37
65.52
62.2s
67.615U
67.2U
S2 ,255.00
71.23
67.72
66,U93.00
176,S7U .00
9
11.95
Receiver appointed to levy and collect stock assessment covering
deficiency in value of assets sold, or to complete unfinished liquidation
SALES OF UNITED STATES SAVINGS BONDS
BY DENOMINATIONS
MARCH 1, 1935 THROUGH DECEMBER 31, 1935
DENOMINATIONS
NUMBER OF PIECES
MATURITY VALUE
#25
217,101
I 5,427,525.00
#50
161,878
8,093,900.00
#100
356,301
35,630,100.00
#500
129,576
64,788,000.00
#1,000
157,903
157,903,000.00
1,022,759
#271,842,525,00
TOTALS
NUMBER OF PIECES
«‘■Banks and Trust
Companies
Individuals and
Corporate
Entities
21,000**
MATURITY VALUE
#15,715,350.00
1,001,759
256,127,175.00
1,022,759
#271,842,525.00
* The bonds held by banks and trust companies are largely
in the #1,000 denominations.
** Approximately
The Secretary
^noti,
tute a continuing/!ssue of Government securities, witj^/porresponding
maturity dat^jf which would extend the redemption
same numb
state
gf these "bonds over the
years in which they may be sold£\ Also, the Secretary
owners
f lu 1m i r O T l B r T O a a " ’Seuui l fale a *
jrfeir determination
Despite the fact that any United States
Savings Bond may be redeemed at any time after 60 days from issue date,
less than three per cent of approximately $400,000,000, maturity value,
~I
sold through April 26th of this year had been redeemed to that date#
TREASURY DEPARTMENT
Washington
Press Service
No. U ^ a /
FOR RELEASE, MORNING NEWSPAPERS
7- 3/
The convenient denominations of $25 to $1,000 in which United States
Savings Bonds are sold are proving attractive to the small investors
throughout the country, according to a statement issued today by the
Secretary of the Treasury.
The audited returns of sales of United States Savings Bonds available
to December 31, 1935, show that from March 1, 1935, when these bonds were
■<
put on sale, to the end of that year, there had been sold 1,022,759 bonds.
These bonds were bought by approximately 400,000 different purchasers.
Included in this list of owners of Savings Bonds were many who are
purchasing these bonds at regular intervals.
The bonds of $25 to $100 denominations account for approximately 72
per cent of the total number of bonds issued through December 31st.
Banks and trust companies account for approximately six per cent of
the total s
a
l
e
'u'fcwywgfrini.
The audited report shows that 1,601
banks had purchased united States Savings Bonds through 1935.
Most of the banks buying these bonds in 1935 took the legal limit of
$10,000, maturity value, which may be registered in the name of any single
owner during any calendar year.
The audited report shows that these banks
held $15,715,350 of Savings Bonds as against a gross sale to the public
for the same period of $256,127,175, maturity value.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday, May 7, 1936.__________
5-6—36,
Press Service
No • 7—31
The convenient denominations of $25 to $1,000 in which United States Savings
Bonds are sold are proving attractive to the small investors throughout the.coun
try, according to a statement issued today hy the Secretary of the Treasury,
The audited returns of sales of United States Savings Bonds available to
December 31, 1935, show that from March 1, 1935, when these bonds were put on sale,
to the end of that year, there had been sold 1,022,759 bonds.
These bonds were
bought by approximate^ 400,000 different purchasers.
Included in this list of owners of Savings Bonds were many who are purchasing
these bonds at regular intervals.
The bonds of $25 to $100 denominations account for approximately 72 per cent
of the total number of bonds issued through December 31st.
Banks and trust companies account for approximately six per cent of the total
sale.
The audited report shows that 1,601 banks had purchased United States Savings
Bonds through 1935.
Most of the banks buying these bonds in 1935 took the legal limit of $10,000,
maturity value, which may be registered in the name of any single owner during any
calendar year.
The audited report shows that these banks held $15,715,350 of
Savings Bonds as against a gross sale to the public for the same period of
$256,127,175, maturity value.
Despite the fact that any United States Savings Bond may be redeemed at any
time after 60 days fro® issue date, less than three per cent of approximately
$400,000,000, maturity value, sold through A^ril 26th of this year had been
redeemed to that date
-
2~
SALES 0? UNITED STATES SAVINGS BONDS
BY DENOMINATIONS
MARCH 1, 1935 THROUGH DECEMBER 31, 1935
DENOMINATIONS
NUMBER OF PIECES
217,101
- f f ir
to
161,878
8,093,900.00
$100
356,301
35,630,100.00
$500
129,576
64,783,000.00
$1,000
157,903
157.903.000.00
1,022,759
$271,842,525.00
Q
$25
TOTALS
NUMBER OF PIECES
*Banks and Trust Companies
Individuals and Corporate Entities
*
MATURITY VALUE
21*000**
$
5,427,525.00
MATURITY VALUE
$ 15,715,350.00
1,001,759
256.127.175.00
1,022,759
$271,842,525.00
The bonds held by banks and trust conpanies are largely in the $1,000
denomi nations.
** Approximately.
ooOoo
Note to correspondents*
Detailed information and figures on above article
Room No* 289
Treasury building#
-o-
I
available at
add s s a (5)
to be spent*
Tennessee and Missour\ will spend #13*500 in their fight against
trachoma, of which the government has provided #8,000* Alabama*s fight against
hookworm will be a zetaA zkpcggzjLiqoMAxxgijtwg aided by the addition of #3,025
of
which #1,375 has been set aside by the Public Health Service*
l/
or
California will spend :$^l #4,000 to rid the state of psittaoosi
to
parott fever,
which the government w x ü has granted #2,100*
The District of Columbia having a special problem in transients,
has set aside ffirey* #33,500 for school inspection, s£ toward which the federal
government has provided #850*
StkaKzaaiszxitia8xt35zhexaxzxzsdxenz3ayxncz±eKsxs±8iEexzxaElsidasz;
For Public Health Nursing,10 states have budgeted #110,500 underj
£ea9£xaxdxBxagz£axpaeic izmx
the act, with the government earmarking #21,000 for this activity© These states arej
New York,Vermont, '^Í^^MMMVBHHMMÉ^Virglnia,Miniiesota,Arkansas,l9fiBHlS0S|Arizona,
N
r
California,Colorado,Oregon and Utah, and the District of Columbia and Alaska*
v
v
v'>
r
States establishing new local health units and their number,ares
(^Massachusetts, 20 { New Jersey, 2 { New York , 2{ Florida®,9 j j
Georgia,8 {North Carolina , 3 { South Carolina, 21 {Virginia, 6 j West Virginia, 1 j
Illinois, 23 i Indiana, 3 j Iowa, 6 {Michigan, 6 {Minnesota, 3 {Nebraska,3 {
5
Ohio,l { South Dakota,á { Wisconsin,4 { Arkansas , 1 j Kansas , 3 {Missouri, 2 {
Oklahoma, 10 { Texas , 6 { California, 1 { Idaho, 2 {
and
Oregon, 2 / Washington,6 *
States strengthening
Montana, 4 { New Mexico, 10j
*
local health units
Connecticut,6 { Maine, 6 { Massachusetts, 20 {New Hampshire,1
i
New Jersey, 5 {New York , 16 { Delaware,3 {Florida, 3 { Georgia, 20 {Maryland, 24 j
North Carolina,35 { South Carolina, 13 { Virginia, 18 {West Virginia, 13 {Iowa,5 {
Michigan,16 {Minnesota,2 {Ohio, 24 { Wisoonsin,5 {Alabama,52 {Arkansa,17{Kansas,4 j
Kentucky,62{ Louisiana,30{Mississippi,24{Missouri,4{0klahoma,2{ Tennessee,34{
Texas,7{Arizona,4{California,9{Hawaii,l{Montana,4{ New Mexico,10{Oregon,2 and
Washington, 6©
•qgpE~~
|
add s s a (4) Social security
act 19 states have strengthened their divisions of vital statistics, xpsaoiixgxax
budgeting for the five month period #160,000 of which sum #28,000 has been earmarked
by the Publicfc Health Service#
Before the passage of the Social Security Act, only ioHExstaias
m aos. Massachusetts and New York had given cognizance to the problem of industrial
hygiene and were studying this phase of modern life with funds provided by their
state department of leb or#
Now 12 others are interesting themselves in the activity
with the aid of federal fluids, and five others have begun studies under their own
state labor or health xd authorities#
The states inaugurating industrial hygiene studies through
federal aid, ares Rhode Island, Connecticut, Pennsylvania, North Carolina, South
Carolina, Michigan,West Virginia, Maryland,Ohio,Illinois,Missouri and Kansas# They
have budgeted #111,600 for -this surve y ^ o f which the Public Health Service has
designated #80,000#
Sant To fight the growing threat of syphilis and gonnorhea,iks
New Jersey,
Massachusetts,KBDBXdsacsBy,New York,Pennsylvania,District of Columbia,XlsE±d*f&eBzslEjx
Maryland,West Virginia,Wisconsin,Arkansas,Louisiana,Mxsxiysipjzi Kansas',Texas,
Oklahoma,Vermont and Kansas have budgeted #112,000 for the five-month period, of
which ±hxz£estaxa± #80,000 has been earmarked under the Social Security Act#
Continuing their fight on tuberculosis,Massachusetts, New
Jersey,Pennsylvania,Vermont,District of Columbia,Florida,Georgia,Maryland,Alabama,
Louisiana,Mississippi,Tennessee,Texas
and California have budgeted #145,000
for which the federal government has set aside #67,000#
Cancer control agencies have been set up in
Maine, while
Massachusetts and New
Connecticut a^d
York will strengthen this activity through
the aid of federal sums# These states will spend approximately #160,000 of which
the Public Health Service has earmarked #11,500#
For rodent control in the four western states,the federal
government is providing the entire sum of #12,500 to be spent#
more
add ssa (3) x x x The Public Health
Service was also charged with allocating «qnyxjax $416,333 for training and reserve
personnel# Distribution of this portion of the total allotment was made on the
basis of conditions and jbdc expected requirements»
Before the operation of the health section of the Social Securit;
health
Act, ttasxiacsadt appropriations by the various local political subdivisions
aggregated
about $25,000,000# This figure has been increased to k $40,000,000
through the incentive provided by federal appropriations , according to estimates
of the Public Health service, although the health aspect of the act has£sBMwiii i^
had only three months in which to demonstrate its value»
Through the cooperation of state and federal authorities under
the act, the states in the five month period of the 1936 fiscal yearJf have
more than $4,675,665
services
Kp?2
ZBpxiacbadx$£âiÿâ&S budgeted xhBxfczxflKB&yx$S3&?880 for local health xabmnxgfczatxsg
$1,219,000
including
obtained from the Public Health Service» For local health
administration the states will spend nearly $300,000
of which the federal
government has budgeted $145,000»
N
For engineering the states have set aside $335,000 under the
act, of which $91,000 m s earmarked by the national government» This activity includ
the application of sanitary control measures
b£
including drainage, sewage, water
supply, malaria and rodent control, and varied local panNMMfe«
.
X
^ Hearly $400,000 has been earmarked for laboratory activities,
of which about $80,000 has been budgeted by the Public Health Service» Under this
activity the states perform their analyses of water supplies, the examination of
specimens, and xsmoddbBdbs treatment for rabies when require^» In tfes
states with large rural communities, reWfing laboratories are being established# Io*
is an example of this improved service,
For years the ¿estexaizggxaxnmextxkxx health ^KViagwn and the
medical profession have found themselves without adequate statistics to aid in the
studies of various epidemics and diseaseSXThrough the impetus oi^Social security
more
add ssa (2) x x x environmental hygiene
Thirty-three states have strengthened the engineering
department of their health services; 27 have improved their laboratory facilities ;19
have been aided in working toward more complete records of vital statistics; 2*
preventable and communioable disease control has been strengthened in 24 states; 12
have strengthened their .Public ^fealth ^Nursing service
11 states have extended their
study into venereal diseases, and 13 have been
JJHKfra i ^ in their fight on
tuberculosis,
Massachusetts and New York received aid in extending the scope
of their campaigns against cancer, while Michigan and Ohio designated oral hygiene
as activities for expansion with the aid ofxfsnboarik funds provided by the social
security act* Nine states were aided in their campaigns of health education*
Of the $3,333,333 made available under the Social Security Act
for the last five months of the fiscal year ending on June 30* $2,421*240 has
been budgeted by the Public Health Service to the various stateso
The largest sum budgeted for a single state- $215,100- was
earmarked for New York* T
V.
States presenting budgets for which the Public Health Service
t TTI/sI
earmarked ppfwt&eaMy'' the entire sums allowed under the Social Security Act,
^r
includes Alabama, Florida,Hawaii, Kentucky* Maryland* Michigan, New Mexico*
North Carolina, South Dakota, Tennessee and Washington*
Under the act, each state
n
al lowed IpdaHiitlmg a flat
$3,268 allotment. Further allotments were made on the b a s ^ S of population, special
Land special ^eada — /
health problems and financial needs* Under the allocationi«^Lpo^latiS5| the
states were given the opportunity of obtaining aid by matching federal allotments
from existing funds| and a similar sum by matching with new appropriations*
In addition to the flat allotment a $500,000 equalization
fund was set up to aid states with peculiar financial problems. The Public Health
Before the act there wer^Abut 540 local health ynits in operation
n m u imi p t U a a v-CsMf
*
out of a total of 3,000 counties in the Sa±tsdxgta±HX In three months 175 new local
health units were added to this number, or an increase of more than 30 percent«
Eleven states have set up new -units for the study of industrial
hygiene,
Tki
XT
v
Xq bring i t e total «£* 1 fiorili ntin trrr »««P
C *J L 4 ^
ìm U u
frît «tiri
tipu*i|jiim uî
/V
have been enabled to set up special
the
control
I ouboni
>ubonic plague/ 71
fOr
p j 'A
have established units
.for thè study and treatment of syphilis and gtosoorarksoac gonnrrheaj Connecticut and Maine
have established divisions of cancer control# sdridba
Nineteen states under the new coordination plans of the Xpalth
/
t£j5
.-JH .
jeection of the act, have established a central authority foj><Cocal /health administration}
and a similar number have widened the scope of &dcs thMHL supervision«
Vermont has established an engineering unit under its health department, while South
Dakota for the first time is
towtffia the study and control
of communicable and preventable diseases« Florida has established a new division of
Oral hygiene, while the District of Columbia has been able to expand its activities in
school inspection and the inspection of food and drugs«
cKv. & A
tri
Alabama h&js beenlj assisted in extending «H w ^ iTorts toward the
^
eradication of hookworm^ while Missouri and Tennessee have li iin' liiawliiiinllWTfi in
Aid has been extended to California in its efforts to stanç
their fight against trachoma« 38adk±fcsm3t 2ajŒ»tx£annBçFsittaco3is or parrot fever,
ir
while Connecticut is continuing its trail blazing inPennsylvania xzxBtskzxgxsiixxsBK is expanding its
MNGtm
40 mental hygiene J^SAWÁ
«¿b into environmental hygiene#
m o r e
jC loser coordination of the health activities of federal, state and
local governments under the public health section of the Social Security Act, is noted!
in a preliminary survey of the work now being carried out under the direction of Dr*
Thomas Parran, surgeon general of the United States Public Health Service#
Sefexextkexaxta:
TREASURY DEPARTMENT
Washington
DOR RELEASE, MORNING NEWSPAPERS,
Sunday« May 10, 1936.___________
5-8-36.
Press Service
No. 7-3S
Closer coordination of the health activities of Eederal, State and local
governments under the public health section of the Social Security Act, is noted
in a preliminary survey of the work now being carried out under the direction, of
Dr. Thomas Parran, Surgeon General of the United States Public Health Service.
Before the Act there were but 540 local health units in operation out of a
total of 3,000 counties in the United States.
In three months 175 new local
health units were added to this number, or an increase of more than 30 percent.
Eleven states have set up new units for the study of industrial hygiene, to
bring the total to 16.
California, Washington, Montana and Idaho have been
enabled to set up special facilities for the control of bubonic plague; Vermont,
Arkansas, Louisiana and Oklahoma have established units for the study and treat
ment of syphilis and gonorrhea;
Connecticut and Maine have established divisions
of cancer control.
Nineteen states under the new coordination plans of the health section of
the Act have established a central authority for the promotion and supervision of
local health administration; and a similar number have widened the scope of
supervision.
Vermont has established an engineering unit under its health depart
ment, while South Dakota for the first time is setting up special facilities for
the study and control of communicable and preventable diseases.
Elorida has
established a new division of Oral Hygiene, while the District of Columbia has
been able to expand its activities in school inspection and the inspection of
food and drugs.
In the realm of special projects Alabama has been assisted in extending its
efforts toward the eradication of hookworm, while Missouri and Tennessee have been
assisted in their fight against trachoma.
Aid has been extended to California
in its efforts to stamp out Psittacosis or parrot fever, while Connecticut is
-2continuing its trail blazing in mental hygiene research.
Pennsylvania is expand
ing its study into environmental hygiene.
Thirty-three states have strengthened the engineering department of their
health services; 27 have improved their laboratory facilities; 19 have been aided
in working toward more complete records of vital statistics; preventable and
communicable disease control has been strengthened in 24 states; 12 have strength
ened their public health nursing service; 11 states have extended their study into
venereal diseases, and 13 have boon aided in their fight on tuberculosis.
Massachusetts and New York received aid in extending the scope of their
campaigns against cancer, while Michigan and Ohio designated oral hygiene as
activities for expansion with the aid of funds provided by the Social Security Act.
Nine states were aided in their campaigns of health education.
Of the $3,333,333 made available under the Social Security Act for the last
five months of the fiscal year ending on June 30, $2,421,240 has been budgeted by
the Public Health Service to the various states.
The largest sum budgeted for a single state —
$215,100 —
was earmarked for
New York.
States presenting budgets for which the Public Health Service earmarked
virtually the entire sums allowed under the Social Security Act, include; Alabama,
Florida, Hawaii, Kentucky, Maryland, Michigan, New Mexico, North Carolina, South
Dakota, Tennessee and Washington.
Under the Act, each state is allowed a flat $3,268 allotment.
Further allot
ments were made on the bases of population, special heal.th problems and financial
needs.
Under the allocation or population and special needs the states wore
given the opportunity of obtaining aid by matching Federal allotments from
existing funds and a similar sum by matching with new appropriations.
In addition to the flat allotment a $500,000 equalization fund was set up
to aid states with peculiar financial problems. The Public Health Service was
also charged with allocating $416,333 for training and reserve personnel.
Distri
bution of this portion of the total allotment was made on the basis of conditions
and expected requirements.
Before the operation of the health section of the Social Security Act,
health appropriations by the various local political subdivisions aggregated about
$25,000,000*
This figure has been increased to $40,000,000 through the incentive
provided by Federal appropriations, according to estimates of the Public Health
Service, although the health aspect of the Act has had only three months in which
to demonstrate its value*
Through the cooperation of state and federal authorities under the Act,
the states in the five^-month period of the 1936 fiscal year have budgeted more
than $4,675,665 for local health services including $1,219,000 obtained from the
Public Health Service.
For local health administration the states will spend
nearly $300,000 of which the Federal Government has budgeted $145,000.
For engineering the states have set aside $335,000 under the Act, of which
$91,000 was earmarked by the national government.
This activity includes the
application of sanitary control measures including drainage, sewage, water supply,
malaria and rodent control, and varied local projects.
Nearly $400,000 has been earmarked for laboratory activities, of which about
$80,000 has been budgeted by the Public Health Service.
Under this activity the
states perform their analyses of water supplies, the examination of specimens,
and treatment for rabies when required-.
mobile laboratoiies are being established.
In states with large rural communities,
Iowa is an example of this improved
service.
For years the health authorities and the medical profession have found them
selves without adequate statistics to aid in the studies of various epidemics
and diseases.
il
Through the impetus of the Social Security Act, 19 states have
strengthened their divisions of vital statistics, budgeting for the five-month
period $160,000, of which sum $28,000 has been earmarked by the Public Health
Service
■4~
Before the passage of the Social Security Act, only Massachusetts and New
York had given cognizance to the problem of industrial hygiene and were studying,
this phase of modern life with funds provided by their State Department of Labor.
Now 12 others are interesting themselves in the activity with the aid of Federal
funds, and five others have begun studies under their own state labor or health
authorities.
The states inaugurating industrial hygiene studies through Federal aid, arei
Rhode Island, Connecticut, Pennsylvania, North Carolina, South Carolina, Michigan,
West Virginia, Maryland, Ohio, Illinois, Missouri and Kansas.
They have budgeted
$111,600 for those surveys, of which the Public Health Service has designated
$80,000.
To fight the growing threat of syphilis and gonorrhea, Massachusetts, New
Jersey, New York, Pennsylvania, District of Columbia, Maryland, West Virginia,
Wisconsin, Arkansas, Louisiana, Kansas, Texas, Oklahoma and Vermont have
budgeted $112,000 for the five month period, of which $80,000 has been earmarked
under the Social Security Act.
Continuing their fight on tuberculosis, Massachusetts, New Jersey, Pennsylvania
Vermont, District of Columbia, Florida, Georgia, Maryland, Alabama, Louisiana,
Mississippi, Tennessee, Texas and California have budgeted $145,000 for which the
Federal Government has set aside $67,000.
Cancer control agencies have been set up in Connecticut and Maine, while
Massachusetts and New York will strengthen this activity through the aid of
Federal sums.
These states will spend approximately $160,000, of which the Public
Health Service has earmarked $11,500.
For rodent control in the four western states, the Federal Government is pro
viding the entire sum of $12,500 to be spent.
Tennessee and Missouri will spend $13,500 in their fight against trachoma,
of which the government has provided $8,000.
Alabama* s fight against hookworm will
be aided by the addition of $3,035,of which $1,375 has been set aside by the Public
Health Service.
-5~
California will spend $4,000 to rid the state of psittacosis, or parrot
fever, i?sfwhich the government has granted $2,100.
The District of Columbia having a special problem in transients, has set
aside $33,500 for school inspection, toward which the Federal Government has pro
vided $850.
For Public Health Nursing, 10 states have budgeted $110,500 under the Act,
with the government earmarking $21,000 for this activity.
These states are:
New York, Vermont, Virginia, Minnesota, Arkansas, Arizona, California, Colorado,
Oregon and Utah, and the District of Columbia and Alaska.
States establishing new local health units and their number, are: Georgia, 8;
North Carolina, 3; South Carolina, 21; Virginia, 6; West Virginia, 1; Illinois,
23; Indiana, 3; Iowa, 6; Michigan, 6; Minnesota, 3; Nebraska, 3; Phio, 1; South
Dakota, 5; Wisconsin, 4; Arkansas, 1; Kansas, 3; Missouri, 2; Oklahoma, 10; Texas,
6; California, 1; Idaho, 2; Montana, 4; New Mexico, 10;. Oregon, 2.» WasMngt'o&V
,
6; Massachusetts, 20; New Jersey, 2; New York, 2 and Florida, 9*
States strengthening local health units include:
Connecticut, 6; Maine, 6; Massachusetts, 20; New Hampshire, 1; New Jersey, 5;,
New Y0rk, 16; Delaware, 3; Florida, 3; Georgia, 20; Maryland, 24; North Carolina,
35; South Carolina, 13; Virginia, 18; West Virginia, 13; Iowa, 5; Michigan, 16;
Minnesota, 2; Ohio, 24; Wisconsin, 5; Alabama, 52; Arkansas, 17; Kansas, 4;
Kentucky, 62; Louisiana, 30; Mississippi, 24; Missouri, 4; Oklahoma, 2; Tennessee,
34; Texas, 7; Arizona, 4; California, 9; Hawaii, 1; Montana, 4 ; :New Mexico, 10;
Oregon, 2 and Washington, 6.
ooOoo
Note to correspondents:
Detailed information and figures on above article available at Room 289,
Treasury Building.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MOFUJIHCT NEWSPAPERS,
Sunday, May 10, 1936«
Z ß ß t
~~
Press Service
Ho« 7 - 3.3
The Treasury Department today announced preliminary figures covering im
ports of commodities governed "by quota provisions of the Canadian Trade Agree
ment during the period January 1 to April 25, 1936, as shown on the accompany
ing sheets:
2
IMPORTS OF COMMODITIES UNDER QUOTA PROVISIONS OF CANADIAN
TRADE AGREEMENT
During the Period January 1 to April 25, 1936
(Preliminary Figures)
Sawe~d~T^^)r and Lumber
Douglas
Mixed Fir
Western
Hemlocft
Fir
& Hemlock
(Bd. Ft.)
(Bd. Ft.)__
i B d j F t ^ J __
TOTAL IMPORTS
Percent of quota
22,050,763
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth
Los Angeles
Maine |and NL H.
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
8,524,666
«
(Bd. Ft.)
38,178,182
15.3/o
. '656,971
183,104
-
-
1,048,721
-
-
7,298,004
-
mm
mm
-
-
-
-
-
—
-
267,530
-
-
-
4
■
" ' 4-
-
mp
2,303,24$
7,698
147,782
-
3,955,806
119,057
22,050,763
8,524,666
-
Total from Mexico
m
7,602,753
~
«
m
Ml
-
mm
1,178,74-5" 212,226
5 188 605
3,965,090
,
«fr
-
-
m
m
4,074,863
38,178,182
-
1,739,5-70
2,542,645
7,117,325
10,651,223
12,729,943
8,192,383
6,554,032
•a r
25
29
28
25
87,438:
-- *4
4,9-39,650
1,364,491
4,315,583
15,103
-
-
BÜ
m f--'
1,638,351
2,035,VIS
7,698
147,782
FROM MEXICO
Ari zona
El Paso
San Antonio
Jan.
Feb.
Mar.
Apr.
•
-
87,438
4,282,679
1,181,3-87
3,266,862
15,103
5,431,939
Total from Canada
BY MONTHS
December
4 Weeks Ending
5
”
"
4
”
?
4
"
"
7,602,753
Total
m/ß
1,3)48,721
,
6,554,032
2,918,313
3,803,592
10,285,930
21,170,345'-
‘
3
Cattle
Under 175
Pounds
(Head)
TOTAL IMPORTS
Percent of quota
9,518
18.3#'
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth
Los Angeles
Maine and N.H*
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
Total from Mexico
6,634
—
Cattle 700
Pounds or
More
(Head)
72-,-642
46.6/0
Dairy Cows
700 Pounds : Croam
or More
(Head)
: (Gal.)
:
:
: 2,789 : 17,599,037
»
39.I#
907
4.5#
6
27
5
15,029
2,827
15,845
63
•75
332
--"~
1,644
18,644
518
961
397
2-226
224
m
" -
96
»
17
91
- ?
»
782
789
643
"1
9,053
4,103
60,680
s
:
:
359 :
75 ;
31 s
3,815
4,82o
3,322
:
s
:
«.
:
465 :
11,962
:
-
: White or
s Irish Seed
¡ Potatoes
: (Pounds)
w
26
1
»
—
2,729
2,789
232
29
M
«
M
71
570
»
907
w :
- :
.
s
52,500
- '
120
~ 1,062,820
1,013,349
138,300
'mm “
14,001,573
-
m
m
1,244,375
' 86,000
17,599,037
-
~ :
BY MONTHS
December
4 Weeks Ending Jan.25:
5
"
"
Feb.29:
4
1
”
Mar.'28 :
4
n
"
Api:. 25:
mm
, '712
1,363
2,050
5,393
-
8,621
13-,511
16,583
33,927
:
255
217 ■
113
322
-
11
259
'805
1,714
1,534,6-9-7
1,017,061
• 472,549
9,224,380
5,350,350
TREASURY DEPARTMENT
Washington
May
MEMORANDUM FOR THE PRESS
11, 1936.
RECEIPTS OF SILVER BY THE- MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended May 8, 1936:
Philadelphia*....... •••••••«...................
San Francisco............... ...........*.......
Denver ,........ **. ...........................
Total for week ended May 8, 1936................ .
Total receipts through May 8, 1936 ..............
1,501,212.75 fine ounces
545,883.51 "
"
___ 19,425.85 ”
«
2,066,522.11 "
81,765,356.06 »
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended May 8, 1936:
Philadelphia............... ....................
New York....... ...................... *.........
San Francisco................................. .
Denver.«.......................................
New Orleans.... .. ..............................
Seattle..... ...................................
Total for week ended May 8, 1936.................
Total receipts through May 8, 1936...... .
7.287.00 fine ounces
2,687.95
« ”
4.313.00 »
»
408.95
" ”
14,696.90
112,776,431.82
»
"
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES :
New
Domestic
Secondary
Week ended May 8, 1936:
Imports
Philadelphia ................. $
4,746.10 $144,096.89 $
1,125,64
New York ...................... 24,999,300,00
233,500.00
350,200,00
San Francisco..................
910,720.96
44,412,56 1,474,181,42
Denver ........................
59,159.44
27,974.23
510,472,71
New Orleans.... ................
423.00
36,782.85
525,97
Seattle ................ ...... ..............
12.719.10
309.697.72
Total for week ended May 8, 1936..$25,974,349.50 $499,485.63 $2,646,203.46
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
G-old Coin
Week ended May 6 .......... .....$
15,331.92
Received "previously............ 31,510,695.35
Total to May 6................. $31,526,027.27
Received by Treasurer’s Office:
Week ended May 6....... .....
Received previously..........
,
Total to May 6.,............... $
NOTE:
268,056.00
268,056.00
G-old bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
G-old Certificates
$
259,770.00
107,072,060.00
$107,331,830.00
$
10f500.00
2,443,120.00
2,453,620.00
May 11, 1936
Honorable Harry Flood. Byrd,,
United States Senate.
My dear Senator:
This will acknowledge receipt of your letter, dated May 8th, which was
postmarked as of 5:00 P.M. on May 9th and received in my office at 9:14 A.M.
today.
In your letter you furnish a list of corporations with the amount of
their net income and the amount of their dividends paid out in 1934, as re
ported in Moody* s Manual, and you ask that I check this list and let you have
a similar list for 1935 .if such statistics are available.
You request also
the names of all corporations which, for the last year for which statistics
are available, have a net income before Federal taxes1 of more than a million
dollars and, based upon the actual distribution for the year, will receive a
tax reduction of fifty per cent or more under the pending bill.
If the information you desire is that to be derived from income tax
returns, I must respectfully call your attention to the provisions of the reve
nue law limiting the conditions under which the Treasury Department may furnish
such information. Section 257-b of the Revenue Act of 1926, reads as follows:
MThe Secretary and any officer or employee of the Treasury
Department, upon request from the Committee on Ways and Means of
the House of Representatives, the Committee on Finance of the
Senate, or a select committee of the Senate or House specially
authorized to investigate returns by a resolution of the Senate
or House, or a joint committee so authorized by concurrent reso
lution, shall furnish such committee sitting in executive session
with any data of any character contained in or shown by any return.11
I
shall be quite willing, on request of the Finance Committee and under
the authorization of this section, to furnish any and all information that the
Committee may desire, which is available.
Anticipating such a request, I have
directed that data bearing on your inquiries be assembled without delay.
Sincerely yours,
(Signed) Henry Morgenthau, Jr
Secretary of the Treasury.
•coast guard (2) x x x
year are;
The Alexander Hamilton to be stationed at Honolulu,T .H.;
the George W.Bibb to be stationed at Puerto Rico and the John C.Spencer to be
stationed at Cordova , i ± i E c : Alaska*
The cutters have a beam of 41 feet xx& a maximum draft of 12
and a displacement of 2,000 tons*
feet, threeinches/ They are powered with steam geared turbines of 7,000 h*p*,
capable of
ir individual cost is $2,349,429 as estimated by the U.S.
Navy
George W*Campbell is scheduled for completion in July*
f William J.Duane for September, the Samuel D.Ingham for November, and the
$oger B.Taney for Jan*,1937*
-o-
X
<ar
JL
\
i
•5-2.7.
» •ft» *
Launching of four of the seven newQoast Guard/cutters^ will take
the
'
^
place at/Philadelphia Navy Yard on June 3, it was announced to dayJsy-Rear-Admiral
T^-/I
% nrtTnrnpTlJ o iS t <•>*»-
Four women, MaseaE descendants of four ^Secretaries of the
~“{reasur^ 3?|^i for whom the vessels are to be named, will act as sponsors
during the
V
ceremony*
The women invited to take part in the ceremony in honor of their
forbears, are:
M s
Miss Ljfcia C.Brown,Harrimara|,Tenn«, great great granddaughter
of George W*Campbell, of Tennessee, who was secretary ±x of the treasury in the
cabinet of President Monroe in 1814 j Mrs* Katherine Ingham Brush Winans, 322 E* 57
street,New York City, daughter of t a m d Charles Samuel Inghax^, a direct descendant of
Samuel D.Ingham, first secretary of the treasury tinder PxexasfeMEk Andrew Jackson, from
o t:
k*
March, 1829 to June, 1831 ; Miss Mai Duane, 47 Broad street,New York City,
47
Broad street,New York City, great-great granddaughter of William,J.Duane of
,
&>■wU]\
Pennsylvania, who served as secretary of the treasury u»der Andrew Jacks
ieaaxta in 1833, and Miss Corinne Taney,1730 De Lancy street,Philadelphia, great great
granddaughter of August Taney, brother of Roger B.Taney of Maryland, who m s
secretary of the treasury under Andrew Jackson in 1833 and 1834 before winning further
*9
^ \
‘
'jPtjJfS.t V
renown as chief justice of the Ba4%ed=dStatas Supreme C o u r t s <fci
The George W . C a m p o e l ^ ^ l S ~ be stationeda^stapleton, Staten
Island,N.Y. j the Samuel D.Ingham at Boston $ the William J.Duane at San Francisco ana
the Roger B.Taney at San Diego,Cal*
rpj^Q 0ther three cutters to be completed early next year are:
m o r e
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Tuesday# May 12« 1936»____________ _
5-11-36#
Press Service
^°* ^*"34
Launching of four of the seven new 327—foot Coast Guard cruising cutters will
take place at the Philadelphia Navy Yard on June 3rd, it was announced today#
Four women, descendants of four Secretaries of the Treasury, for whom the
vessels are to he named, will act as sponsors during the ceremony#
The women invited to take part in the ceremony in honor of their forbears, are;
Miss Lucia C. Brown, Harriman, Tenn#, great-great granddaughter of George W*
Campbell, of Tennessee, y;ho was Secretary of the Treasury in the Cabinet of
President Monroe in 1814; Mrs# Katherine Ingham Brush Winans, 322 E# 57th Street,
New York City, daughter of Charles Samuel Ingham, a direct descendant of Samuel D.
Ingham, first Secretary of the Treasury under President Andrew Jackson, from March,
1829, to June, 1831; Miss Mai Duane, 47 Broad Street, New York City, great-great
granddaughter of William <t# Duane of Pennsylvania, who served as Secretary of the
Treasury during the Jackson Administration in 1833, and Miss Corinne Taney,
1730 DeLancy Street, Philadelphia,, great-great granddaughter of August Taney,
brother of Roger 3. Taney of Maryland, who was also Secretary of the Treasury under
President Jackson in 1833 and 1834 before winning further renown as Chief Justice
of the Sum-eme Court of the United States#
The George W. Campbell will be stationed at Stapleton, Staten Island, New York;
the Samuel D. Ingham at Boston; the William J# Duane at San Francisco and the Roger
B. Taney at San Diego, Calif#
The George W. Campbell is scheduled for completion in July; the William J#
Duane in
September, the Samuel D. Ingham in" November, and the Roger 3# Tpney in
January, 1937.
-m
yHK
~2*
[The other three cutters to he completed early next year are!
The Alexander Hamilton to he stationed a,t Honolulu, T.H.; the George W. Bibb
to he stationed a.t Puerto Rico and the John C. Spencer to he stationed at Cordova,
Alaska,*
The cutters have a heam of 41 feet,a maximum draft of 12 feet, three inches
and a displacement of 2,000 tons*
They are powered with steam geared turbines of
7,000 h*p*, capable of 20 knots*
Their individual cost is $2,349,429 as estimated
by the United States Havy.
ooOoo
imports
LIQlU<
or n s n j
:
ID IVIMES AMD DUTIES COLLECT ED \THERE ON
Mart*, 1936
liaroh
‘
Marsh
1
IWi
J_____1996
DISTILLED LlftUQRS (Proof Gallons)*
Stook In Cuoton« Bonded Ware
house« at beginning
Total Imports (Free and Dutiable)
Available for Osmoumptisn
Entered into Consumption (a)
XapoTt i Tf Trv»"Ouet ons Oua t<»A3r.,.
Stook in Customs Bonded Ware
houses at end
— 1 2,217 ........ mT 644
1*634,3*3
189,822
r— ■ «..«*.»«■ Oh -o -Sm
1,824,165
204,643
in.«.!
3*7+5
Stook in Customs Bondod Ware
houses at ond
6 15 ,8 17
Total DutiGs Collected on Liquors
Tot^iL Dutljbs Colleotod on dther
Commodities |
Total Duties Colleotod
1*637*067,
19**13*
1,83^901
135*956
.. 1*602.
1 ,6 3 ^ 4 3
4 ,233,874
1«
4,282,9^
M3«*2J
5*413,25
------U ,6 4 l
2,759*399
6*993*273
3,210,286
—
1—
1,627,70
— >66,30
3*713*247
3*753*253
3*719*2
1*710*979
1 ,6 0 8 ,1 1 8
1,766,51
124,481
616,351
1 835**60
180,780
2,224,469
-*56,74
2,223,33
,
602,066
...3>390"
• * ^ 67586*
1 ,651,290
1,615,817
55«,72
13*31
“
1,651,29
/
224,613
22**993
323,005
233*029
*6,333
279,362
3*5*7«
9«*7(
20,625
id, 462
245,238
11,732
i^o,455
|0
5*955
329*760
11,563
233,046
224,613
313**16
233,046
313,41
4 2,598,834
$ 2,462,444
4 2,811,734
254,928
244^56
224,904
68,112____________ 60,820_____________ 66,750
4 8,318,242
750,520
268,038
$ 7»«3«**
696, 01
271
$ 2,921,8 74
$ 2,787,620
* 9*336,000
4 0*006*1
32,419,002
3 0 *2 ^ ,8 6 5
9 2 ,6 f l ,080
74,802*6
♦35*3*1*756
433*087,485
Stook in Customs Bonded Ware
houses at end
DUTIES OOLLECTED ON Distilled Liquors
Still Vinos
Sparkling Wines
",
XM<
/
SPARKLING MIMES
(Liquid Gallons)
Stook in Customs Bondod Ware
houses at beginning
Total Imports (Proo and Dutiable)
Available for Consumption
Entorod into Consumption(a)
»
3*910*673
393*924
4,3X2,537
5«» 709
3*753*253
STILL MIMES
(Liquid Gallons) 1
Stook in Custono Bonded Warshouses at beginning
Total Inports (Free and Dutiable)
Available for Consumption
Entorod into Consumption (a)
1^
3 i749>(24
1 *053,670
**$02,294
951*950
3 ,847,700
929,924
4>777i ^ 4
1,012,134
* 3 Month« (Jan.-Marchj
■
1M
4 3 *103*300
29,199,741
364,4?|
*5,837
46,121
432,303,129 1102,028,680 403,613*7:
Per Cent Colleotod on Liquor«
0*396
_ _ _ _ _ _ _ 9*696_ _ _ _ _ _ _ 9*296
(a) In eluding vithdravals for ship supplies and dlplonatis usd.
C-E^ep^ rcd by th*
Mid
rf..Vijtjtrr)
io*
For Release Morning Newspapers
Wedne sday, May 13 •
The following statement
shows imports of
distilled liquors and wines, and duties jebxkx collected
thereon, for the month^ of March and for the first three
months of 1936, x*x$aac and comparisons with i:
corresponding periods in 1935;
TREASURY DEPARTMENT
Washington
3T0R RSIEASE, MORNING- NEWSPAPERS»
Wednesday» May 13, 1936.________
5-11—36.
Press Service
Ho, 7-35
The following statement shows imports of distilled liquors end wines, end
duties collected thereon, for the month of March and for the first three months
of 1936, and comparisons with corresponding periods in 1935:
A
5
' .
March
1936
n r o m T T T T . T ATTH DC
DISTILLED
liquors
(proof Gallons) :
Stock in Customs
Bonded Warehouses
at "beginning, •••
3,847,700
Total Imports (Free
and dutiable)....
929,924
Available for Consumption.........
4,777,624
Entered into Consumption (a)....
1,012,154
Stock in Customs
Bonded Warehouses
at end.........
3,753,253
STILL WIRES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning....
1,634,343
Total Imports (Free
189,822
and dutiable)....
Available for Con1,824,165
sumption.••••••••
Entered into Con204,643
sumption (a).....
Stock in Customs
Bonded Warehouses
1,615,817
at end..........
SPARKLING WIRES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
224,613
at beginning.•••
Total Imports (Free
and dutiable)....
20.625
Available for Con245,238
sumption....... .
Entered into Con11,732
sumption (a).....
Stock in Customs
Bonded Warehouses
233,046
at end....... ..
DUTIES COLLECTED OR
$2,598,834
Distilled Liquors
Still Wines
254,928
Snarkling Wines
68,112
Total Duties Collected —....
on Liauors
/v
... ..... ...- $2,921,874
va; Including withdrajwals for ship
March
1935
3 Months (Jan.-March)
1936
1935
3,918,673
4,233,874
4,282,960
393,924
2,759,399
1,130,295
4,312,597
6,993,273
5,413,255
581,709
3,210,286
1,627,708
3,719,247
3,753,253
3,719,247
1,710,979
1,608,118
1,766,588
124,481
616,351
456,745
1,835,460
2,224,469
2,223,333
180,780
602,066
558,724
1,651,290
1,615,817
1,651,290
323,805
233,029
325,712
5,955
46,333
38,761
329,760
279,362
364,473
11,563
45,837
46,123
313,416
233,046
313,416
$2,811,734
224,904
66,750
$8,318,242
750,520
268,038
$7,838,170
696,089
271,866
$8,806,125
$9,336,800
$3,103,388
supplies and diplomatic use •
TR5AS0ST B S P A S M T
ÎtA Sæ X BQ fàM
wr
ma.i n i *
MDMim
fez M
a
m a « sam««
1936 •______ _ _
7 '3
6
Seeretary êf tha Treasury Morgenthau annouaeed laat ©vening that the tende?«
fer tuo ««ri«« of Treaaary bille, to b« dated May 13, $$##*. «Meli ««y« offered on
Ifay 8, «ere openeà at the federai Baser?© b&aks on May 11, 1936.
Tenderà «»re invited fer thè t w ««rie« te thè aggregate aateaat of
#100,000,000, or thereabouts, and #313,546,000 «as appllad for, of which
#100,116,000 «as aeeepted,
Th»
detail« of tha
216>m y
BHX3.
t m
m w m m
«erle» are a« folio««:
wmmmm
is . i936
For this «erle«, which «a« for #50,000,000, or tàereaboate, the total «nouât
applled for «ae #189,941,000, of mieli #50,005,000 «a« aeeepted.
Th»
aoeepted
bld« raaged la prie« froa 99.930, ©tairaient to a rate of about 0.119 pereeat
per annua, to 99,901, équivalent te a rate ef about 0*16$ percent per annua, en
a basile discount basi«.
aeeepted.
9
Only part ef the aaount bld for at thè lattar prie# w&s
The average prise ef Treaeury bille ef thie eerlee to be iasued la
99.909 and the average rate 1» about 0.151 pereeat per annum on a bank discount
basi«.
m-my Tmmm wms* mromm mmsmt 10. int
Fer thl» serie«, w h i # «a« fer #50,000,005, or thereabeuta, tha total aaount
appllad for «as #155,609,000, of M
#50,111,000 «as aeeepted.
Th»
aeeepted Mds
rangea In prie# fro» 99.939, équivalent to a rate ©f about 0.086 pereent per annua,
to 99.843, ©tairaient to a rate of aboat 0.809 poreent per anaorn, on a bank dissonai
basi«.
The average prie© of Troasory bilia ef thls aerlea to ba Iasued la 99.858
and ths averaga rata 1« about 0.188 partant par annasi on a bank dlseount beala.
TREASURY DEPARTMENT
Washington
POR RELEASE,- MORNING NEWSPAPERS,
Tuesday« May 12« 1936»
_______
5-11-36.
Press Service
7—36
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to be dated May 13, 1936, which were offered on
May 8, were opened at the Federal Reserve banks on May 11, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $313,-548,000 was applied for, of which
$100,116,000 was accepted.
The details of the two series are as follows:
216-DAY TREASURY BILLS »MATURING DECEMBER 15, 1936
Por this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $187,941,000, of which $50,005,000 was accepted.
The accepted
bids ranged in price from 99.930» equivalent to a rate of about 0.117 percent
per annum, to 99.901, equivalent to a rate of about 0.165 percent per annum, on
a bank discount basis.
accepted.
Only part of the amount bid for at the latter price wa.s
The average price of Treasury bills of this series to be issued is
99.909 and the average rate is about 0.151 percent per annum on á bank discount
basis.
273-DAY TREASURY BILLS,MATURING FEBRUARY 10, 1937
Por this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $125,607,000, of which $50,111,000 was accepted.
The accepted
bids ranged in price from 99.939, equivalent to a,rate of about 0.080 percent per
annum, to 99.843, equivalent to a rate of about 0.207 percent per annum, on a
bank discount basis.
The average price of Treasury bills of this series to be
issued is 99.858 and the average rate .is about 0.188 percent per annum on a bank
discount ba.sis.
ooOoo
TREASURY DEPARTMENT
Washington
May
1936
Press Service
No.
IMMEDIATE RELEASE
The Sec^retary of the Treasury today announced
that the Treasury has awarded to 1Ml Crane & Company, of
Dalton, Mass., the contract to furnish distinctive paper for
printing currency and public debt securities of the United
States for the fiscal year 1937.
Bids were opi
MaycB an d Crane & Compary was the lowest bidder
the terms of the contract the Government will pay 37 cents a pound
for paper with a 75 per cent linen and 25 per cent cotton content.
The contract covers the entire supply that may be required by the
Treasur y.
for currency.
public debt
A tot al of 825 tons is the estimated requiremmt
The quantity which may be needed for printing
securities has not been estimated.
TREASURY DEPARTMENT
Washington
Press Service
No. 7-37
FOR IMMEDIATE RELEASE,
Tuesday, May 12, 1936*
The Secretary of the Treasury today announced that the Treasury has
awarded to Crane & Company, of Dalton, Mass*, the contract to furnish
distinctive paper for printing currency and public debt securities of
the United States for the fiscal year 1937.
Bids were opened on May 6
and Crane & Company was the lowest bidder.
Under the terms of the contract the Government will pay 37 cents
a pound for paper with a 75 per cent linen and 25 per cent cotton content.
The contract covers the entire supply that may be required by the Treasury.
A total of 825 tons is the estimated requirement for currency.
The quantity
which may be needed for printing public debt securities has not been
estimated.
ooOoo
Purchases on market during April» 1936
4/1
4/2
4/13
4/Q
4/13
4/B
4/13
4/20
4/22
4/21
4/20
4/29
1,000,000
5,000,000
4,000,000
500,000
500,000
19,000
500,000
1,000,000
5,000,000
1,000,000
6,000
500,000
Postal/
Postal'
Postalr
U.S.G.L. ^
TT*S.G*L./
D*C »Teachers/
U.S.G.L J
U.S.G.L* <<
Postal^
Postal ’
,
D.C.Teachers '
A.P.C. /
TREASURY DEPARTMENT
O F F IC E
C O M M IS S IO N E R
OF
THE
SECRETARY
W A S H IN G T O N
OP
A C C O U N T S A N D D E P O S IT S
May 14, 1936#
TO
m.
1
GASTON:
f
-
1
v
During the month of April, 1936, the following market
transactions took place in Government securities for investment
accounts:
Total purchases • • . . « #._#.* . $19,025,000
Total sales • « » • • • • • • • • #
W w il
Net purchases:
$19,025,000
/
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, May 15, 1936,
Press Service
No. 7-38
Net market purchases of Government securities for Treasury
investment accounts for the calendar month of April, 1936,
amounted to $19,025,000, Secretary Morgenthau announced today.
ooOoo
TREASURY DEPARTMENT
Washington
May 18, 1936.
MEMORANDUM EOR THE PRESS
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended May 15, 1936;
Philadelphia.......... .
f.................
San Francisco..... ............. ...........*.....
Denver«•»••*.•♦••«»*««•«•••,•.»4444.*,»**.*..*«*.«
Total for week ended May 15, 1936..«...............
Total receipts through May 15, 1936..... .
330,256*02 fine ounces
453,326Ì31'
» »
6,229*04
" u
789,811.87
" "
82,555,167.93
» «
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended May 15, 1936;
Philadelphia«............v........... *.........
New York .....................
San Francisco,......... ........................
Denver..........................................
New Orleans..... ..........................
Seattle.................. ......................
Total for week ended May 15, 1936*........ *......
Total receipts through May 15, 1936..............
8.173.00 fine ounces
5,638.36
» «
2.111.00
» «
609.28
» »
16,531*64
112,793,013.46
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended May 15, 1936:
Imports
Secondary
9,307.03 $126,190,99
Philadelphia...... :.
New York...........
93,022,800.00 177,300.00
14,713.87
San Francisco...... I .
36,806.52
21,048*71
Denver ...........
23,419,82
29,975.54
New Orleans ..........
9,905.87
Seattle ......... .. ..
8,947.42
Total for week ended May 15, 1936».$93,080,146.59 $400,269,18
New Domestic
I
229.81
315,800*00
1,824,635.16
726,175,81
245,846^30
$3,112,687.08
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary^ Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Week ended May 13.............. if
9,726,96
Received previously, ......... ... 31,526,027.27
Total to May 13*........ ....... $31,535,754.23
Received by Treasurers Office:
Week ended May 13......... ,..., $ ~ --- — Received previously........... .
268,056*00
Total to May 13.............. .
$
268,056*00
NOTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572*69 previously reported.
Gold Certificates
$
210,340,00
♦ 107,331,830.00
$107,542,170.00
$
$
2,700,00
2.453,620.00
2,456,320.00
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
M O N D A Y 18_, 19^-6 »
Press Service
No» 7 - 39
STATEMENT BY SECRETARY MORGBNTIjAU „
The representatives
of the Chinese Ministry of Finance who have he^n-in
the United States to make some studies of our monetary and banking system, and
to exchange views on monetary problems of mutual interest, have completed their
mission and are returning to China.
Our conversations with them have been mutually instructive*
I feel
confident that the monetary program being pursued by the National Government of
China is not only along sound lines, but constitute-s an. important step toward
the desired goal of stability of world currencies.
To supplement their efforts towrard that objective and to co ope rate "With,
them in their program of monetary reform and currency stabilization,, .and.in
accordance with our silver purchase policy, we have definitely indicated our
willingness,: under conditions mutually acceptable, to make purchases from the
Central Bank of China of substantial amounts of' silver, and also to make avail--able to the Central Bank of China, under conditions which safeguard the interests
of both countries, dollar exchange for currency stabilization purposes.
The mission headed by Mr, Chen has been instrumental in bringing-about a
more complete understanding of our mutual monetary problems.
I believe that only through full and frank exchange of views similar to
that which has just taken place between the representatives of tho Chinese Ministryof Finance and ourselves
will it be possible to improve the internal stability
of national currencies and with this achieve a greater international stability..
— opo—
ta sm m
e
«wh
rm musi, i m i ® meaunm,
j*
f l f l g . w M k M « . ---------
Saaratary of tlia Traaaury Jtorg«ntb*iu
to r
om
«aria» of fraaaury felli», to ta datad s»?
y
- Y
o
last atMrgg $ & $ tfe» feaaém
m 9
im
$ 9 m tm
m m
o f f a m ©b
Sfey 1$, «ara opanad ut tfea lid®8l leaarra tanta oa Mfey 18, 1188«
fmémrm aera isrttad for tfe» tu© «»ri»« t© tfea aggraget® wasw&t ©f
#100,008,000, ©p tfearaabouta, and #30»,©63,089 t m appllad for, of ufelafe
#100,003,000 i mo aaoaptad.
Tta ètimi11» of tfea tu© «orlo« ara a» follo«»s
mo-mf m & m m msm* ummwm m m m m
m* i8i
tfei* sari#*, afeiati «a» for $90,009,000, or tfearaafeouts, tfea total *a©uat
applied for n i #140,738,000, of ofelofe #90,000,000 uaa aaaaptad,
tfe» aoeaptad
tida raagad la pria® fra» 99.986, atalralasit 4© » poto of atout 0*11$ parouat por
m m m 9 t» 99*898, «<|iiiYaXe»t t© a rato of atout 0*1?$ paraaut por annasi, oa a
feaafe Olooooot tasi®*
aaaep&ad*
Oaly part of tfea mamm$ feti for at tfe® lottar prloa m #
Tfea a-roselo pria# of Traaaury felli» of tfela »orlo» to fea i m i
lo
99,910 and tfea araraga iota lo atout 0.186 paroant par « m i ©a a tank
feaoio«
gya-mym m m r bzlxs.wmrnm momàm iy«Tus?
Ifer tfei« »aria», «feiefe m s for #30,000,00©#©r tfearaafeeuta, tfe» tot&l n a s t
appliad for «a» #161,830,000, of «^lofe #80,003^000
wm
aaoaptad*
ffea aoaaptad
feids raagad I» pria# fresi 99*888, aquirulont to a rata of atout 0«148 paroant per
to 90*849, aqulralant to a rata of atout 0*199 paraaut par asmua, oa a
tank diaeouat tarla*
aoeaptad.
©aly paart of tfea atoiat tld for at tfea lattar pria# m *
Tfea ararega prie» of Traaaury Mila of tfei« aarlaa to fea laaoad I»
99*868 aad tfea ararasa rata 1» atout 0*131 paraant par ausa» oa a tank dtaaount
tool»*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday. May 19, 1936»__________
5-18-36.
Press Service
No. 7-40
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated May 20, 1936, which were offered on
May 15, were opened at the Federal Reserve hanks on May 18, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $302*065,000 was applied for, of which
$100,005,000 was accepted.
The details of the two series are as follows:
209-DAY TREASURY BILLS, MATURING- DEGEMBER 15, 1936
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $140,735,000, of which $50,000,000 lias accepted.
The accepted
bids ranged in price from 99*936-*, equivalent to a rate of about 0,110 percent
per annum, to 99,898, equivalent to a rate of about 0.176 percent per annum, on
a bank discount basis.
accepted.
Only part of the amount bid for at the latter price was
The average price of Treasury bills of this series to be issued is
99,910 and the average rate is about 0.156 percent per annum on a bank discount
basis.
■
;
273-DAY TREASURY BILLS, MATURING FEBRUARY 17, 1937.
For this series, which was for $50,000,000, or thereabouts, the total amount
applied f.or was $161,330,000, of which $50,005,000 was accepted. iThe accepted
bids ranged in price from 99.888, equivalent to a,rate of about 0.148 percent per
annum, to 99.849, equivalent to a- rate of about 0.199 percent per annum, on a
bank discount basis.
accepted.
Only part of the amount bid for at the latter price was
The average price-oi.^Treasury bills of this series to be issued is
99.863 and the average rate is about 0,181 percent per annum on a bank discount
basis.
ooOoo
m
j m
GUARD
Gerald T. Applegate,
Dinuba, Calif.
Chester R. Bender,
Plant City, Fla.
Ray W. Blouin,
17 High Street,
Whitinsvilie, Mass.
George R. Boyce,
Westport Conn.
Christian R. Couser,
Port Huron, Midh.
William B. Ellis,
43 Field St.,
Glenbrook, Conn.
Thomas F. Epley,
Calhoun, Ky.
Clifford S. Gerde,
3328 42nd Aye., So.,
Minneapolis, Minn.
Samuel G. Guill,
227 Maple Ave.,
Takoma Park, Md.
Douglas B. Henderson,
3522 Wallingford Ave.,
Seattle, Wash.
Arthur W. Johnsen,
45 Crescent St.,
Hew London, Conn.
Robert J. Lafferty,
239/ Main Street,
Port Washington, N. Y.
John W. Macintosh,
1815 Twelfth Ave.,
Spokane, Wash.
Joseph P. Martin,
Jessup, Pa.
James S. Muzzy,
Saugus, Mass.
Guy L. Ottinger,
326 6th Ave., So.,
Jamestown, N, Dak.
George W. Playdon,
112 Ash St.,
Reading, Mass.
George R. Reynolds,
3661 Woodland Park Ave.,
Seattle, Wash.
Julius 1. Richey,
Aberdeen, Wash.
Fred J. Scheiber,
Bloomfield, N. J.
Benjamin B. Schereschewsky,
87 School St.,
Belmont, Mass.
Richard R. Smith,
14 Perry St.,
New London, Conn.
Frederick R. Statts,
5202 Sherier Place, N. W.,
Washington, D. C.
James P. Stow, III,
1802 Freeport Road,
Arnold, Pa.
Clyde H, Teague, Jr. ,
1015 Galloway Ave.,
El Paso, Texas.
Edward C. Thompson, Jr.,
31 Mellem St.,
Dorchester, Mass.
Paul E. Trimble,
Milaca, Minn.
Russell R. Waesche, Jr.,
5425 Conn. Ave., N. W. ,
Washington, D. C.
Robert Wilcox,
5863 Chevy Chase, Pkwy.,
Washington, D. C.
Harold L. Wood,
855 Hamilton Ave.,
Trenton, N. J.
/
/ w
y
J)
Graduation exercises will be held at the Coast Guard Academy at
New London,Conn«, sx June 6» to
8, it m s announced today by Rear Admiral H.G.
Hamlet, commandant of the U.S.Coast Guard* Thirty cadets will be commissioned ensigns.
The chief address will be made by Francis B.Condon, associate
J
S
C
A
_
-5
justice of the Rhode Island supreme court* He will be introduced by'Assistant secretary
=
r p
=
^
of the treasury Stephen B.Gibbons^ in ohaygo ef oeaot guard activities*
<jr%^ *"f*
j
s.J
*2 y
-iii»^ft^3^ctivities will include athletic events and awards, with
' V
retreat and dancing in the evening*
Saturday will be given over to competitive drills with an
alumni stag dinner in the evening*
Baccalaureate service will be held on Sunday afternoon.
Commencement exercises will be held on Monday when Judge Condon
will be heard* The schedule of activities closes with a dance on Monday night*
MgmhscgaatffbdtoagB Badna^
With tjie completion of commencement exercises, approximately
fi 60 cadets will
on the cutter Cayuga for a sixty day tgtAp to Edinburgh,
Copenhagen,Hamburg, Havre and Funchal,Madeira* The cadets^comprising the first and
third year classes will leave New London under Comdr* F.F.Sexton on June 11, returning
about Aug*,9*
Members of the graduating class ares
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Sunday, May 24, 1936._____ ____
5-20-36.
Press Service
No. 7-41
Graduation exercises will he held at the Coast Guard Academy at New London,
Conn., June 5th to 8th, it was announced today by Rear Admiral H.G. Hamlet,
Commandant of the U.S. Coast Guard.
Thirty cadets will be commissioned ensigns.
The chief address will be made by Francis B. Condon, Associate Justice of
the Rhode Island Supreme Court.
He will be introduced by Assistant Secretary of
the Treasury Stephen B. Gibbons.
Activities on Friday, June 5th, will include athletic events and awards, with
retreat and dancing in the evening.
Saturday wall be given over to competitive drills with an alumni stag dinner
in the evening.
Baccalaureate service 7/ill be held on Sunday afternoon.
Commencement exercises will be held on Monday when Judge Condon will be
heard.
The schedule of activities closes with a dance on Monday night.
With the completion of commencement exercises, approximately 60 cadets Will
sail on the Cutter CAYUGA for a sixty day cruise to Edinburgh}
Copenhagen, Hamburg, Havre and Funchal, Madeira.
The cadets, comprising the
first and third year classes, will leave New London under Commander F.F. Sexton
on June 11th, returning about August 9th.
£■•> w
-2Members of the graduating class are:
Gerald T. Applegate,
Dinuba, Calif.
Chester R, Bender,
Plant City, Fla.
Ray W. Blouin,
17 High Street,
Whitinsville, Mass.
George R. Boyce,
Westport, Conn.
Christiaft' R. Couser,
Port Huron, Mich.
William B. Ellis,
43 Field Street,
Glenbrook, Conn.
Thomas F. Epley,
Calhoun, Ky.
Clifford S. Gerde,
3328 42nd Ave., So.,
Minneapolis, Minn.
Samuel G. Guill,
227 Maple Ave.,
Takoma Park, Md.
Douglas B. Henderson,
3522 Wallingford Ave.,
Seattle, Wash.
Arthur W. Johnson,
45 Crescent St., ^
Hew London, Conn.
Benjamin B. Sphereschewsky,
87 School St.,
Belmont, Mass.
Rob er t J . Laff erty,
239 Main Street,
Port Washington, H.Y.
Richard R. Smith,
14 Perry Street,
Hew London, Conn.
John W. Macintosh,
1815 Twelfth Ave.,
Spokane, Wash.
Frederick R. Statts,
5202 Sherier Place, H.W.
Washington, D.C.
Joseph P. Martin,
Jessup, Pa.
James P. Stow, III,
1802 Freeport Road,
Arnold, Pa.
James S. Muzzy,
Saugus, Mass.
Guy L. Ottinger,
326— 6th Ave., So.,
Jamestown, H. Dak.
George W, Playdon,
112 Ash Street,
Reading, Ma,ss.
George R. Reynolds,
3661 Woodland Park Ave.
Seattle, Wash.
Julius E. Richey,
Aberdeen, Wash.
Fred J. Scheiber,
Bloomfield, N.J,
Clyde H. Teague, Jr.
1015 Galloway Ave.,
El Paso, Texas.
Edward C. Thompson, Jr.
31 Mellen St.,
Dorchester, Mass.
Paul E. Trimble,
Milaca, Minn.
Russell R. Waesche, Jr.
5425 Connecticut Ave. H.W,
Washington, D.C.
Robert Wilcox,
5863 Chevy Chase Parkway,
Washington, D.C.
Harold L. Wood,
855 Hamilton Ave.,
Trenton, H.J. .
ooOoo
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
MaY 25» 1936
•RECEIPTS OE SILVER BY THE MINTS AND ASSAY OEEICES :
(Under Executive Proclamation of December 21, 1933) as amended
Week ended May 22, 1936s
Philadelphia ....................
San Francisco .................
Denver............. .............
Total for week ended May 22, 1936..
Total receipts through May 22, 1936
985,271.61 fine ounces
it
if
408,363.38
n
it
5.836.94
ti
ti
1,399,471.93
t
i
i
t
83,954,639.86
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended May 22, 1936:
Philadelphia...... *................... ..........
7,720.00 fine ounces
New York .............................. .........
1,124*88
”
11
San Francisco............. .......................
1,564.00
”
n
Denver....... ....................................
785.82
»
»
New Orleans..... .................................
- - -. Seattle......... ...................... ........... .....- - ^
Total for week ended May 22, 1936 .................
11,194,70
H
®
Total receipts through May 22, 1936................ 112,804,208.26
H
|
RECEIPTS OF GOLD 3Y THE MINTS AND ASSAY OFFICES:
New.
Domestic
Week ended May 22, 1936:
*
Imports_____ Secondary
5,637,00
2,734,69 $179,446,16 $
Philadelphia........... ....... $
79,900,00
New York,..............
18,224,200,00 180,500,00
San Francisco...............
370,513,74
35,605,03 1,640,450,93
638,230,79
Denver........
56,382,03
23,539,21
480,43
New Orleans......................
3,111,17
25,843,05
189,160.54
Seattle..... ....................
...........
17,203,25
Total for week ended May 22, 1936.,$18,656,941.63 $462,136.70 $2,553,859.69
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks : Gold Coin
Week ended May 20.*............ .$
11,215.36
Received previously........... . 31,535,754t,23
Total to May 20............... .$31,546,969,59
Received by Treasurers Office:
Week ended May 20............. ..$
Received previously...........
Total to May 20......... .
.$
NOTE:
200.00
268,056,00
268,256.00
Gold Certificates
$
281,030.00
107,542,170.00
$107,823,200.00
$
$
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
1,400.00
2,456,320.00
2,457,720.00
t h s &s o t t
' Q w m m m m
Washington
Press Serrine
ior n s «
m m i m
tobpapkbs,
Tuesáay. Hay 26. 1936.
9
i/v
Seeretary of thè Treasuxy Mergenthau announoed last erening that thè tendera
for t«o series of Treasury bilis, to be dated Hay 27, 1956, whieh nere offered on
May 22, «ere opened at thè federai Reeerre benha on May 25, 1936*
Tendere sere l&Tited for thè two series to thè aggregate amount of
#100,000,000, or thereabouts, and #280,030,000 «as applied for9 of «hieh
#100,110,000 «as aeeepted.
m
Wo t
The detalla of thè te© serles are as follows:
M & T TOá^lHT BILLS. MàTtMHO
m m m ñ
15, 1936
thls serles9 whieh eas for #50,000,000, or thereabouts, thè total amount
applied for «as #131,565,000, of i&leh #50,050,000 «as aeeepted.
The aeeepted Más
ranted la prlee from 99.916, equiralent to a rate of about 0.150 pereent per annu%
to 99.893, equlvalent to a rate of about 0.191 pereent per annua, on a bahk diseount basls.
Only part of thè sgaotmt bld for at thè latter prlee «as aeeepted.
The arerage prlee of Treasury bilis of thls series to be issued ls 99.902 and thè
arerage rate is about 0.175 pereent per annua on a bank discount basls.
875-MT THS&SÜBT BIHS. MAT01BS8 TOBBNtt 24. 1937
fo x
thls serles, «hieh «as for #50,000,000, or thereabouts, thè total axaount
applied for «as #148,465,000, of whieh #50,060,000 «as aeeepted. The aeeepted bidè
ranged In prlee from 99.871, equlralent to a rate of about 0.170 pereent per anmua,
to 99.838, equlraleat to a rate of about 0.214 pereent per annua, on a bank discount
basls. The arerage prlee of Treasury bilie of thls series to be issued ls 99.848
and thè arerage rate ls aboat 0.200 pereent per annua on a bank discount basls.
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Tuesdayt May 26, 1936»__________
5-25-36
Press Service
No* 7-42
Secretary of the Treasury Morgenthan announced last evening that the tenders
for two series of Treasury bills, to be dated May 27, 1936, which were offered on
May 22, were opened at the Federal Reserve banks on May 25, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, a.nd $280,030,000 was applied for, of which
$100,110,000 was accepted.
The details of the two series are as.follows:
202-DAY TREASURY BILLS, MATURING DECEMBER 15, 1936,
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $131,565,000, of which $50,050,000 was accepted.
The accepted bids
ranged in price from 99.916, equivalent to a rate, of about 0.150 percent per annum,
to 99.893, equivalent to a rate of about 0.191 percent per annum, on a bank dis
count basis.
Only part of the amount bid for at the latter price was accepted.
The average price of Treasury bills of this series to be issued is 99.902 and the
average rate is about 0,175 percent per annum on a bank discount basis.
273-DAY TREASURY BILLS, MATURING FEBRUARY .24, 1937
For this series,which was for $50,000,000, or thereabouts, the total amount
applied for was $148,465,000, of which $50,060,000 was accepted.
The accepted bids
ranged in price from 99.871, equivalent to a. rate of about 0.170 percent per annum,
to 99.838, equivalent to a rate of about 0.214 percent per annum, on a bank dis
count basis.
The average price of Treasury bills of this series to be issued is
99*848 and the average rate is about 0.200 percent per annum on a. bank discount
basis.
ooOoo
3-
The adaptability of aluminum to decorative treatment is architect-oral
construction and furniture is demonstrated in another room, the metal being
used in combination with marble and various plastic materials*
Ceilings in the display rooms are treated with various acoustical
materials designed to absorb or ta
aniUwtff sound
The producers * associations which are participating in the permanent
display are
Acoustical Industry
Aluminum Industries
Cast Stone Industry
Cork Industry
Glazed Brick and Tile Institute
Granite Industry
Limestone Industry
Metal Window Institute
National Association of Marble Producers
National Lumber Manufacturers Association
National Terrazzo and Mosaic Association
Nickel Industries
Plastic Industries
Slate Industry
Soap Stone Industry
Stainless Steel Industries
Structural Clay Products Industry
Structural Class Industry
Terra Cotta Industry
Tile Manufacturing Industry
Window Class Institute*
00O 00
-2 -
The structural glass exhibit includes brilliant color effects in glass
wall slabs and also features the latest creation of this industry, the Hgla.ss
brick*♦
j
V
The largest ny irnyffTSIto exhibit is devoted to the display of 198L»quarry
\_
products from all sectipns of the country in various finishes both for
exterior and interior use*
The shades run from white through gray to black,
while the greens, blues, reds and yellows are also on display.
The materials
include, marble, graftite, limestone, sandstone, soapstone, caststone, dolomite
and slate*
Just off the lobby, near the entrance, is a room devoted to terra cotta
products. This room depicts the modern style in decorations and shows the
color possibilities of this product
in floors^wallT^snd ce444«g.
.Thraugh-this roem-ic-seen an exhibit of glazed brick and tile where
the many possibilities of panel treatment are featured.
Applications for
walls of lavatories and of operating rooms in hospitals are here demonstrated*
Another room shows a wide variety of woods available for floor^ walls
and ceilings.
The various treatment of woods are also demonstrated, in
addition to a display of many types of inlays*
Mosaics and specimens of tile are found in another exhibit where a
fountain, basin and statuette holds the center of the room.
Specimens of
faience tile adorn the walls, while mosaics are displayed in the manner used
in many U.S. post offices. Nearly 500 combinations of types and colors are
displayed in specially built cabinets in this exhibit*
Building brick and structural tile are exhibited in another room where
products applicable for interior and exterior are on display.
In addition
to showing these products in use in floors and walls, more than 1,000 speci
mens of burned clay products from-every otato are included in this exhibit*
ï rL
I
Plans for the formal opening of the permanent display of architec
tural building materials at the Procurement Division of the Treasury
Denartment were announced today by
»1-ft
Director of
Procurement.
The exhibit, which indue
fêrynatural and manufactured
architectural material produced in the United States, will be open to the
general public on June 1st and 2nd, on the fifth floor of the Procurement
Division building, Seventh and D Streets, S.W.
Visitors will see a series of displays■Jaoccupying eleven rooms -and1cover-
The major purpose in establishing this first permanent display in
the United States is to provide a technical reference library of materials
for the convenience of both federal and general architects, students of
technical universities and manufacturers, to which they may turn for exact
information as to form, color, texture and other properties in connection
with the design and construction of ¿ w m o n t a3Tbuildings.
*“•
Entrance to the exhibit is through a doorway of metal alloy compo
sition on which designs have been wrought by etching and sandblasting.
Alloys
steely are also used in grilles and furniture,
in conjunction with terrazzo and structural glass.
The steel products are
shown both in castings and repousse work. Metal window products are also
shown in this room,
The exhibit is limited to commercially and competitively
available American products and every geographical area in the
continental United States and Alaska is represented.
TREASURY DEPARTMENT
Washington
USE, MORNING NEWSPAPERS
lay 31, 1936,__________
Press Service
No. 7-43
1-36
■Plans for the formal opening of the permanent display of .architectural "build_„0 Materials at the Procurement Division of the Treasury Department were announced
today hy the Director of Procurement.
The exhibit, which includes a wide variety of practically all natural and
manufactured architectural materials produced in the United States, will he open
to the general public on June 1st and 2nd, on the fifth floor of the Procurement
Division building, Seventh and D Streets, S.W.
Visitors will see a series of displays sponsored by 21 representative trade
associations and occupying eleven rooms covering about 4,000 square feet of floor
space.
The exhibit is limited to commercial^ and competitively available American
products and every geographical area in the continental United States and Alaska
is represented.
The major purpo.se in establishing this first permanent display in the United
States is to provide a technical reference library of materials for the convenience
of both federal and general architects, students of technical universities and
manufacturers, to which they may turn for exact information as to form, color,
texture and other properties in connection with the design and construction of
federal buildings.
It is strictly non“*ad.vertising in character.
Entrance to the exhibit is through a doorway of metal alloy composition on
which designs have been vrrought by etching and sandblasting.
Alloys of bronze»
nickel and steel are also used in grilles and furniture in conjunction with terrazzo
and structural glass.
work.
The steel products are shown both in castings and repousse
Metal window products are also shown in this room.
The structural glass exhibit includes brilliant color effects in glass wall
slabs and also features the latest creation of this industry, the ,?glass brick”.
The largest exhibit is devoted to the display of 192 quarry products from.all
sections of the country in various finishes both for exterior and interior use.
The shades run from white through gray to black, while the greens, blues, reds and
yellows are also on display.
The materials include, marble, granite, limestone,
sandstone, soapstone, caststone, dolomite and slate.
Just off the lobby, near the entrance, is a room devoted to terra cotta pro
ducts.
This room depicts the modern style in decorations and shows the color
possibilities of this product in floors and walls.
Adjacent thereto is a room devoted to an exhibit of glazed brick and tile where
the many possibilities of panel treatment are featured.
Applications for walls
of lavatories and of operating rooms in hospitals are here
demonstrated.
Another room shows a wide variety of woods available for floors»walls and
ceilings.
The various treatments of woods are also demonstrated, in addition to a
display of many types of inlays.
Mosaics and specimens of tile are found in another exhibit where a fountain,
basin and statuette holds the center of the room.
Specimens of faience tile adorn
the walls, while mosaics are displayed in the manner used in many U. S. Post Office
Nearly 500 combinations of types and colors are displayed in specially built
cabinets in this exhibit.
Building brick and structural tile are exhibited in another room where pro
ducts applicable for interior and exterior are on display.
In addition to showing
these products in use in floors and walls, more than 1,000 specimens of burned clay
products are included in this exhibit.
~3~
The adaptability of aluminum to decorative treatment in architectural con
struction and furniture is demonstrated in another room, the metal "being used in
combination with marble and various plastic materials.
Ceilings in the display rooms are treated with various acoustical materials
designed to absorb sound.
The producers* associations which are participating in the permanent display
a re !
Acoustical Industry
Alum inum Indu str ie s
Cast Stone Industry
Cork Industry
G-lazed Trick and Tile Institute
Granite Industry
Limestone Industry
Metal Window Institute
National Association of Marble Producers
National Lumber Manufacturers Association
National Terrazzo and Mosaic Association
.Nickel Industries
Plastic Industries
Slate Industry
Soap Stone Industry
Stainless Steel Industries
Structural Clay Products Industry
Structural Glass Industry
Terra Cotta Industry
Tile Manufacturing Industry
Window Glass Institute.
00O 00
. 5 -
The purpoge of thèsa provisions 1* to previde for am equità bis allotraent
& M distribuii©» of seeurlties to all olasses of subscrlbers and thè eo©pera*
tion of banklng institutlons to thìs end la requested.
Federai Re serve Banks as fìseal agente of thè United States are aathorized
and instrueted to esamina application* for eaah off©ring* of Interest-hearing
seeurlties of thè United States and to repert to thè Seeretary of thè Treasury
aay
appear to he exeesslve, wlth reeoaiaen&atlon as to thè rednetioa or
re jeotlon of any mmk applicai ione, whieh reeomasndatione will he proaptly
aeted upon hy thè Seeretary* Federai Beserve Banks as fissai agente of thè
United States are alno authorlzed and instrueted to tak© sueh other aetìon
as m j he neoessary to assure eampliane© wlth thè procedure outlined in this
letter and thè provislons of aay offering elreular* The righi ls reserved to
withdxaw, amend or eupplemant thls letter ai any tim or frem timo to timo«
whieh
i
Sineerely yours,
w am
m •
Seeretary ©f thè Treasury*
11* A* Young, lsq*f
/
Presidenti Federai Reserve>£ank,
Boston, Massachusetts• /
G* L* Burri son, Isq.^
PresidenV* Federal/Beserre Bank,
New York, ìtow York.
J* S. SinelaifVBsq.,
President, lederai Ressrve Bank,
FhiladelpMa, Feirnsylvanla*
M* J. Fleming, Fsq*, \
Presl^ent, Federai ReseWe Bank,
Cleveland, Ohio*
\
iugh Xeach, Ssq*,
Iresident, Federai Reserve Bank,
leàsaond, Tingitiia.
- £ be permitted to eater subscriptions except tor their own account*
Cash subscriptions from basking institutions for their one account will be
received without deposit, but will be limited on each issue to an amount which
will be stated in the Treasury offering*
Recently the limit placed has been one*
bait of the amount of the combined capital and surplus* A cash subscription from
any other subscriber must b# accompanied by payment in an amount which also will
be specified in such offering* The purpose of this initial payment is to limit
the amount of customers9 subscriptions to their legitimate requirements» and it
tends to defeat this purpose if unsecured loans» or loans without collateral other
than the securities subscribed for» are made to cover the initial deposit* Bask
ing institutions will greatly assist if they will cooperate in avoiding this practica
In receiving applications from customers for cash offerings» each banking
institution is requested to certify that» to the best of its knowledge and belief»
its customers9 applications arc made in good faith for the customers9 legitimate
requirements» and that the bank itself has no beneficial Interest therein*
Attention is invited to the following certificate which will appear on all
subscription blanks furnished by federal Reserve Banks for cash offerings» for the
use of subscribing banking institutions*
We hereby certify:
that we have received applications from our customers
In the amounts set opposite the customers9 names on
the attached list which is made a part of this subscrip
tions
that there has been paid to us by each such customer» not
subject to withdrawal until after allotment and payment in
full for securities allotted» the full amount required to
accompany his application* (a) if for I
or less the
amount in full» or (b) if for more than 1
*
percent
i
of the amount applied for but not less than f
that each such application» to the best of our knowledge
and belief» is made in good faith for the customer9»
legitimate requirements; and
that we have no beneficial interest therein*
We agree:
in consideration of the receipt by you of this subscrip
tion» to make payment in full for the entire amount which
may be allotted on this subscription» at par on or before
M.
the date of issue» or at par and accrued interest if on
later allotment* Such payment will be made by the method
'/
indicated hereon*
Ifr» Brouettes* a Office
—
ôir ia/jsir
TïlMMMT BXFASMSf
Off te» of tbs Sasratary
teSfetegteft
Itey
%
m » 1$^,
da&r Sirs
la ad*©»»# ©f tba 3 1 m I§ flauislai, shiafe K n m ©spaet wiXX b# r a m s s a d
o& üats&ay ¿bas X9 it marna dsslrabls te salX il» attention et sabssribing tenka
©ad aay otears mommvmà te là* prévisions s»d# for luarousssssmts ©f ©ffartegs
and tes aubatesion #f snbsariptiaauu ÂssordtegXy» 1 «a adârsssteg tbls
an&isattea ta y m mita tba raqusst tbat y m « ü l l » i ô l a eojy ta saab tank*
tes instituttes te y«mr dlstrlet* and others concerned.
f5» tba oesaaioa ©f a publia «ff«ria| ©f tetsrast-baarteg obligations ©f fit
United States» ê.mmx*emsm% silî ba ssada b? tin Ssaratary ©f tba Traasary tbrmigb
tba praas» and aaah fbda«iX Basa??© Bâte will sali» ta basfcteg institutions te tes
district» full tefbrastioa eonoamteg tba offarteg» togatbar witb applteatioB
fora» for ©a© in aatarliig subsariptteaa* fffort wiXX ba s$da t© arrange tba
milisg ao tbat teferættfon *111 ba rassisad «t aasb bankteg institution ad~
drasssd a» tba mr&lag ©f tba opasiteg day« te ©as# a iiüMitf institution sblab
m ? ba intarastad te subseribiag la a© fa? distant frasa tes Fadaral Baasrr# Bank
©f Ita dtetrist tbat mmuum-mntm «f© nsi ordinsrlly raaaiTad an tes ©-potting
day» it a»y raquast tba fadaral Rasarva Bank tbat it ba listed to rasstea taXagrapbia @d?tea ©f ©11 ©ffartegs*
Tba «ibsarlption boofcs far »«y ©ffariag aagr b# ©losad by tba frsaaury witbout
m&nmmm nottea» m i tbmrmtmrm aoafe subsariblag bank» upon rsoaipt ©f l»f©ration
as t© tba tarm* ©f a Treasary ©ffariag» aitbar 1m tba prsss» tbreugb tba m i l , or
by talagram, aboulé proiBptiy fiXs wîtd tba WmêmmX W m m m m Ba&k asy sabse?ipti©ss
fay itssXf and its m m t m m m . Wm m m m m m m m ba giir©B as t© tfes psrl«d tfe®
mbmrlptimk teste ssy raasia ©paa9 asd sabsaylSteg teste» «fis bafata tàa sa*
aaipt ©f ©ffislaX subaaylptioii bXtsite» s»y fiXa ttei? sabaaripticms by talagraia
or by ©ail te tbs Fada^aX Rmmmr*® teste« A^r sabaafiftiô» s© flXad ty talagyaa
a d t a m m ©f ratelpt by sabsaylbte^ tesk ©f sabsayipticm bXamte tersisbad te? tba i*srtistüüR? lama* stedid ba aeafirnad tetaadiataXy by ©a 1X9 s M
#m tba bteste pyoyidad t^iaa susb bteate teaXX tey© baa» yaaalvsd«
is
©aaassayy» fa? aaab subteribis^ tesk ©r trast eisapsay is sa^tead t© giva tba
m m m m A aâdrasaas ©f Its mmtmmr» sabsaribisg t© tba ©ffariag a»d tba aaoast
satearibad ty aaab» asd t© m t e eaytittsatioa « U b yaspaat t© tfes subseristtes
by tba tesk far ita ©as aseou&t and far accaaat ©f its amsttMrs»
©y aalX te
Sabssriptiass iriXl b© rasaiaad at tba Tmâmml Baaara» Basks aad brauebas esd
at tte fra&miry Bapartemit» tesbi^ton* temkteg instittitioiîs gansraXly a»r «ateit
smbsmriftioiss ter aaaoamt © f «u#t<»srs* Othars ttea baskisg lastitutioss w i H nol
TREASURY DEPARTMENT
WASHINGTON
FOR IMMEDIATE RELEASE,
Wednesday, May 27, 1936«
Press Service
Secretary of the Treasury Morgenthau today made
public the text of the following letter addressed to the
president of each of the twelve Federal Reserve banks:
TREASURY DEPARTMENT
Washington
POE. II.ZdEDIATE RELEASE
W ednesday, May 27, 1956,
Press Service
No. 7 - 44
Secretary Morgenth.au today made public the following text of a letter to
the Presidents of each of the t w e l v e Federal Rese'rve Banks:
"May 27, 1936,
|My dear Sir:
"In advance of the June 15 financing, which I now expect m i l be announced
on Monday, June 1, it seems desirable to call the attention of subscribing banks
and any others concerned to the provisions made for announcements of offerings
and the submission of subscriptions. Accordingly, I am addressing this com
munication to you with the request that you will transmit a copy to each bank
ing institution in your district, and others concerned.
"On the occasion of a public offering of interest-bearing obligations of the
United States, announcement will be made by the Secretary of the Treasury through
the press, and each Federal Reserve Bank will mail,.to banking institutions in its .
district, full information concerning the offering, together with application
forms for use in entering subscriptions. Effort will be made to arrange the
mailing so that information will be received at each banking institution ad
dressed on the morning of tho opening day. In case a banking institution which
may be interested in subscribing is so far distant from the Federal Reserve Bank
of its district that announcements are not ordinarily received on the opening
day, it may request the Federal'Reserve Bank that it be listed to receive tele
graphic advice of all offerings.
"The subscription books for any offering may bo closed by the Treasury without advance notice, and therefore each subscribing bem
upon receipt of informa*
tion as to the terms of a Treasury offering, either in the press, through the mail,
or by telegram, should promptly
With the
;ral Reserve Bank any subscrip*
tions for itself and its customers. No assurance can bo given as to the period tho
subscription books may remain open, and subscribing banks, even before the receipt:
of official subscription blanks, nay file their subscriptions by telegram or by
mail to tho Federal Reservo Banks, Any subscription so filed-’by telegram or mail
in .advance of 'receipt by subscribing bank of subscription blanks furnished for
the particular issue, should be confirmed immediately by mail, and on the blanks
provided when such blanks shall have been received. This is necessary, for each
Subscribing bank or trust company is required to give the names and addresses of
ijts .customers subscribing to the offering and the amount subscribed by each, and
to make certification with respect to the subscription by the bank for its ovra.
account and for account of its customers.
"Subscriptions will bo recoivod at the Federal Reserve Banks and branches and
at tho Treasury Department, Washington. Banking institutions generally may submit
subscriptions for account of customers. Others than banking institutions m i l not
M
-2be permitted to enter subscriptions except for their own account.
’Gash subscriptions from banking institutions for their own account will be
received without deposit, but will be limited on each issue to an amount which
will be stated in the Treasury offering. Recently the limit placed has been onehalf of the amount of the combined capital and surplus. A cash subscription from
any other subscriber must be accompanied by payment in an amount which also will
b*e specified in such offering. The purpose of this initial payment is to limit
the amount of customers1 subscriptions to their legitimate requirements, and it
tends to defeat this purpose if unsecured loans, or loans without collateral
other than the securities subscribed for, are made to cover the initial deposit.
Banking institutions will greatly assist if they will cooperate in avoiding
this practice.
”ln receiving applications from customers for cash offerings, each banking
institution is requested to certify that, to the best of its knowledge and
belief, its customers1 applications are made in good faith for the customers1
legitimate requirements, and that the bank itself has no beneficial interest
therein.
’’Attention is invited to the following certificate which will appear on all
subscription blanks furnished by Federal R e s e r v e Banks for cash offerings, for
the use of subscribing banking institutions:
"We hereby certify;
that we have received applications from our customers
in the amounts set opposite the customers1 names on
the attached list which is made a part of this subscrip
tion;
that there has been paid to us by each such customer, not
subject to withdrawal until after allotment and payment in
full for securities allotted, the full amount required to
accompany his application: (a) if for
_______ or less the
amount in full, or (b) if for more than $________, ________ percent
of the amount applied for but not less than $_____________ ;
that each such application, to the best of our knowledge
and belief, is made in good faith for the customer’s
legitimate requirements; and
that we have no beneficial interest therein.
’'We agree:
in consideration of the receipt by you of this subscrip
tion, to make payment in full for the entire amount which
may be allotted on this subscription, at par on or before
the date of issue, or at par and accrued interest if on
later allotment. Such payment will bo made by the method
indicated hereon.
Cl(A~ -ff
- 3 ~
'The purpose of these provisions is to provide for an equitable allotment
and distribution of securities to all classes of subscribers and the coopera
tion of banking institutions to this end is requested.
’’Federal Reserve Banks as fiscal agents of the United States are authorized
and instructed to examine applications for cash offerings of interest-bearing
securities of the United States and to report to the Secretary of the Treasury
any which appear* to be excessive, with recommendation as to the reduction or
rejection of any such applications, which recommendations will be promptly
anted upon by the Secretary. Federal Reserve Banks as.fiscal agents of the
United Stales are also authorized and instructed to take such other action
as may be necessary to assure compliance with the procedure outlined in this
letter and the provisions of any offering circular. The right is reserved to
withdraw, amend or supplement this letter at any time or from time to time.
Sincerely yours,
HEURY MORGEBTHAU, JR.
Secretary of the Treasury."
— 0O0--
4
f*
1,
gskhal
m m s io m
As fiscal agents of the United States, Federal HeBerye hanks are
authorized and requested to reeelye subscriptions, to make allotments on the
basis and up to the amounts Indicated by the Secretary of the Treasury to
the Federal Heserre hanks of the respective districts, to issue allotment
notices, to receive payment for notes allotted, to make delivery of notes on
full-paid subscriptions allotted, and they may issue interim receipts pending
delivery of the definitive notes*
i.
The Secretary of the Treasury may at any time, or from time to time,
prescribe supplemental or amendatory rules and regulations governing the
offering, which will be communicated promptly to the Federal Reserve banks*
mmmmmmm,
fh.,
Seeretary of the Treasury
interest} and hi« action îm any or all of theaa respects shall bs final*
Subject to these reaereations* cash subscriptions for amounts up to and in
cluding $$*000 «ill ba giren preferred allotment* baC^e«frEei4bcr i
'«fTi*»r-»
cash
incitisi t r
subscriptions for amounts orer $3*000 will be allot tad on an equal peraaatag#
basis* but not lass than tbs isaxlasna preferred allotment; and subscriptions
in payment of which Treasury Botas of Series S-1936
farlas A-1936 ars tandarad will ba allottad in full*
ot Traasury Botes of
Allotment notions will
bs ssnt out promptly upon allotment* and tbs basis of the allotment will ba
publiely announced*
T ÏÏ
1*
Payment at par and accrued interest, If any* for notas allottad os
aasb subscript ions m a t ba nada or completed on or before June lb* 1936* or
on lutar allotment«
In eeery sosa «diere payment is not so completed* tbs pay
ment viti application up to ID pereant of tbs amount of notes applied for
shall* upon declaration made by tbe Secretary of tba Treasury in bis discretion*
be forfaited to tbe United States«
Any qualified depositary «ill be permitted
to males payment by credit for notes allotted to it for itself
m û its customers
up to any amount for which it shall be qualified in excess of «Hating deposits,
«ben so notified by tbe Federal B e sen6# bank of its district•
Treasury Botes of
Series 1-1906* maturing June IS* 1936, «1X1 bo accepted at par in payment for any
notes subscribed for and allotted*
Treasury Ilotes of Serias A-1936, maturing
August 1* 1936* «Itb coupon dated August 1* 1936* attached* «ill be accepted at
per with an adjustment of accrued interest as of ¿tons IS* 1936, in payment for
any notes subscribed for and allottad*
Payment through surrender of Treasury
Botes of Series 1-1936 or of Series A-1936 should be made when tbe subscription
is tendered*
-fi
end 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 notes*
4*
The notes will be acceptable to secure deposits of public moseys, but
will not bear the circulation privilege*
5*
Bearer notes with Interest eoupons attached will be Issued in denomina
tions of $100, #500, $1,000, #5,000, #10,000 and #100,000.
The notes will not
be issued in registered form*
in.
1*
s o b s c r u t m
m> a i x o t o t t
Subscriptions will be received at the federal Reserve banks and branches
and at the Treasury Department, Washington*
Banking institutions generally may
submit subscriptions for account of customers, but only the federal Reserve banks
and the Treasury Department are authorised to act as official agencies*
Others
than banking Institutlone will not be permitted to enter subscriptions except
for their own account*
Cash subscriptions from incorporated banks and trust com
panies for their own account will be received without deposit but will be restricted
in each case to an amount not exceeding one-half of the combined capital and sur
plus of the subscribing bank or trust company*
Cash subscriptions from all others
must be accompanied, If for $5,000 or less by payment In full; and, if for more
than $5 ,000, by payment of 10 percent of the amount of notes applied for, but not
less than $5,000*
The Secretary of the Treasury reserves the right to close the
books as to any or all subscriptions or classes of subscriptions at any time
without notice*
2*
The Secretary of the Treasury reserves the right to reject any sub
scription, In whole or in part, to allot less than the amount of notes
for, to make allotments in full upon applications for smaller amounts and to
y-iske reduced allotments upon, or to reject, applications for larger amounts,
or to adopt «ay or all of said methods or such other methods of allotment and
/Classification of allotments as shall be deemed by him to be in the public
H M m o # of àmmoA
1-5/8 M
and fesartsg interest M
Tmcaomr m m m m m m M m
Jbas If* 1936
Da« J s * 15, 1941
Interest payable June 15 and -December 15
tm & g m r bspas m f ,
1950
Départant Circular le* 568
Office of the Secretary,
Washington* June lt 1936
Public Bebt Sonríe#
ï* offrais of wons
1* Th# Secretary of ilio Treasury, pursuant to the authority of the Second
liberty Bond Ast* approved September 84* l H ? t as amended, invitas sabaerlptiens,
at par and accrued Intarsst* f r a the people of the United States for 1-5/8 per
eant notas of the United States* designated Treasury lotas ©f Sarta» B-1941* The
ffiro
amount of tha offering Is #500*000*000* or thereabouts* vith the right reseñad
to the Secretary of thm Treasury to inorasse the offering by an aiammt sufficient
to accept all subscriptions for i&ieh Treasury lotes of Scries 8-1986* asturing
funs If* 1856* or Treasury lotes of Series A-1936* featuring August 1* 1956* are
tendered in payment and accepted*
if* wmm &nm of sotsîs
1«
Tbs notes sill be dated June 15* 1956* and will bear interest fresa that
date et the rate of 1-5/8 percent per m m m , payable semiannually* on Deseaba? 1
1856* and thereafter on June 15 and Deckbar 15 in «sah year*
They sill mature
June 15* 1941, and sill not be subject to call for redemption prior to maturity*
8«
Itie notes shall be «¡respi* both as to principal and interest* fres all
taxation (except estate or inheritance taxas* or gift taxes) noe or hereafter
Imposed by the Baited States* any State* or any of the possessions of the Baited
States* or by any local taxing authority*
5«
¥km notes will be accepted at per during such ti&e and under such rules
5
sîïü
they
m y lsaue intérim reeolpts pending delivery of the definitiva bond®*
S»
The Secretary of the Treasury ssey at any time* or from tía» to tlae¿
pro «criba supplements! or amendatory rules and regulations governing the offer*
lng, which will be c o m m l e a t e d promptly to the federal Reserve banks*
fiJSIHlf üûlISISt
*. HI# p
Secretary of the Treasury*
*»
<■ >
or Treasury Botes of Sort«« A~10S6 or« tendered « U l W
aXlottte is full«
Allot- 11
a n t not loos «111 bo mnt o s i promptly upon alletesm t» &nâ tbs bools o f the allot* I
sent «111 bo publicly emotmeod«
XT*
1*
h l »
Payment at par and accrued isteresi » if any» for bonds allotted on cash
subscription* m m t be made or «empiette cm or before Ibas Id» 1056» or m
allotisent«
later
la erery tee* teere payment is sot so compiette» the payment with
oppi lootloo op to ID persosi of tbs mammà of M s
applied for shall» epos
declaration m l # by tbe Secretary of the Treasury Is M s discretion, bo forfeited
to tbs United States*
¿ay qualified depositary sill be permitted to sate payment
by credit for bonds allotted to it for itself sad its customers op to any snoii&t
for teiefc. It shall bo qualified is «messe of existing deposita, teem so notified
by tbs federal Bsssrrs book of its district*
Treasury Motes of Sorias 1*1$$$»
tetaring Tun# IB, 193$, M i l b» acceptai mt par is payment for any bonds subscribed
for and allotted*
treasury Botes of Sorias &-X156» maturing August X9 1936, «Ith
coupon dated August 1» 1956» attached» «ill be accepted at par with na ed$cstseat
of accrued Interest as of Ibas 15, XÜ6» la peyaeat for say bonds tabsorlbed for
sad allotted * ibyasat through surrwadsr of Treasury Botes of Series 1*1906
or of Series â -1056 should be nade t e
V.
the subscription Is tendered*
mmmmtwmmmm
1« Am .fiscal agents of tbs Baited Stette» federal Essere* beote err. author
ised amt revested te recete« sabscrlpticms» to tete aHottest* te the tesis ted a?
to the amounts iMleatte by the Secretary of the Treasury to the federai lesene
banks of tes respect!«* districts, to Iste* Mietetet notices» to reeelee paysent
ter bonds allotted» to tete delivery of bonds on -full-paid subscriptions allotted»
1
—•m —
IH*
1*
SUBSCRI PTION AND ALLOTiraT
Subscriptions will be received at the Federal Reserve banks and branches
and at the Treasury Be pertinent, Washington.
Banking Institutions generally m y
submit subscript ions for account of customers, but only the Federal Reserve banks
and the Treasury Department are authorized to act as official agencies*
Others
than banking institutions will not be permitted to enter subscriptions except
for their own account*
Cash Subscriptions from incorporated banks and trust
companies for their own account will be received without deposit but will be
restricted in each ease to an amount not exceeding one-half of the combined
capital and surplus of the subscribing bank or trust company*
Cash subscriptions
from all others must be accompanied, if for #5,000 or less by payment in full;
and, if for more than #5,000, by payment of 10 percent of the amount of bonds
applied for, but act less than #5,000.
The Secretary of the Treasury reserves the
right to close the books as to any or all subscriptions or classes of subscriptions
at any time without notice*
3.
The Secretary of the Treasury reserves the right to reject any subscrip
tion, in whole or in part, to allot less than the amount of bonds applied for, to
make allotments in full upon applications for smaller amounts and to make reduced
allotments upon, or to reject, applications for larger amounts, or to adopt any
or all of said methods or such other methods of allotment and classification of
allotments as shall be deemed by him to be in the public interest; and his action
in any or all of these respects shall be final*
Subject to these reservations,
cash subscriptions for amounts up to and including #5,000 will be given preferred
cash subscriptions fbr amounts over #5,000 will be
allotted on
m equal percentage basis, but not less than the maximum preferred
•llotmerifc; and subscriptions in payment of which Treasury Ho tea of Series S-1936
be proscribed by the Secretary of the treasury*
from the date of redemption
designated is any such notice, Interest on the bonds called for redemption shall
cease,
2.
The bonds 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 m y local taxing authority, except (a)
estate or inheritance taxes, or gift 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
authorised by the Second Liberty Bond Act, approved September £4, 1917, as amended,
the principal of which does not exceed in the aggregate $5,000, owned by any in
dividual, partnership, association, or corporation, shall be exempt from the taxes
provided for in clause (b) above*
3*
The bonds will be acceptable to secure deposits of public moneys, but
will not bear the circulation privilege and will not be entitled to any privilege
of conversion*
4*
Bearer bonds with interest coupons attached, and bonds registered as to
principal and interest, will be issued In denominations of #50, #100, $500, #1,000,
#5,000, #10,000 and #100,©00*
Provision will be made for the Interchange of bonds
of different denominations and of coupon and registered bonds, and for the transfer
of registered bonds, under rules and regulations prescribed by the Secretary of the
Treasury,
5*
The bonds will be subject to the general regulations of the Treasury
Department, now or hereafter prescribed, governing UnitedStates bonds*
WTPSB SSSflPSB OF MiMtßk
B-5/4 w
»
m ig r a r
bomb of
1951-54
Dated and bearing interest from. lune 15» 1936
mmmmz
at œ
Bee June 15» 1954
ownm or m m ® m m m mu Am ¿&cmim wmmm or m ¿m
£ M
15» 1931
Interest payable Fuse 15 and tfrecsbar 15
1955
De$*rt«ent Circular 55« 551
ñ u s n a r BBttasiisiir,
Offlea of tìi$ Secretary*
IMàiiagloo» Fisa» I» 1955*
PaUl» Debt Service
I*
WfW-im of Bctfos
1« The Secretary of lb# Treasury, pursuant 9© the authority of the Second
liberty Bond Act* e y p m e i Septei&sr 51» 101?, &s aisa&ded, Inali## subscriptions,
a t par and accrued interest, fro« tb# | sople of the tfoiied Slot## for 2-3/4 per
cent bond# of the Unit#! Stot##, designated Treasury tods of 1951-55*
fbe &mmnt
J o crp
of lb# offering 1# #500,000,000, or thereabout#, with the rlg^t resersed to th#
Secretary of the Tfeasary to increase th# offering by en « w a t sufficient to
accept #11 #ub#erlptio&a for whied f m m m z f Sotos of Serici 5-1935» altering
lune 15» 1956» or Treasury Hot## of Serle# JW1935» Maturing August 1, 1155» ore
%
tendered in payment and accepted«
it.
1*
m s m m a ? o f scsrae
The bond# «111 fee dated lone IS, 1135» end «111 beer Interest fresa that
date st the ret# of 2-5/4 percent per asms«, payable eesl&jsngally, ob
IS,
1956, and thereafter on Fun# 15 and Seeeeher 15 is «ash year until the principal
aeon»! b#«oaie# payable«
They will mture June 15, 1954, bat say be redeemed at the
option of the United .Stato# m
mxé after Fun# 15» IMI» In whole or In part» at par
and accrued internet, cm any interest day or days, m 4 south** notice of redassi»!!«®
giren In euch earner a# tie Secretary of the Treasury shall prescribe»
la ease &t
partial redemption the bond# to be redeemed will, he determined by such method a# asy
-3equal percentage basis, but not less than the maximum preferred allotment,
and exchange subscriptions will be allotted in full*
Payment for any bonds or notes allotted Mist be made or completed on
or before June 15, 1936*
If Treasury notes maturing August 1, 1936, are
tendered, coupon due August 1, 1936 must bs attached to the notes, and
accrued interest on such notes to June 15, 1936, will be paid following
their acceptance*
The right is reserved to close the books as to any or all subscriptions
or classes of subscriptions at any time without notice, either for the
Treasury bonds or the Treasury notes and with respect to the cash offering
or with respect to the exchange offering of either*
In order to provide an equitable allotment and distribution of
securities to all classes of subscribers, all banking institutions and
others conesmed are urged to cooperate in making effective the pro
cedure outlined in Department letter of May ST, 1936, addressed to the
President of each of the twelve Federal Reserve banks and made public
at that time*
Interest on the public debt to the amount of about #116,000,000 is
payable on June 15, 1936*
The amount of Treasury notes of Series 1-1936
maturing on June 15, 1936, Is #686,616,000, and of Series A-1936 maturing
on August 1, 1956, is #364,138,000.
The texts of the official circulars follows
■2The Treasury bonds will be Issued la
tm toms , bearer beads with
interest coupons attached, and bonds registered as to both principal and
interest$ both forms will be issued in the denominations of #50, #100,
#500, #1,000, #5,000, ##0,000 and #100,000,
The Treasury notes will be
issued only in bearer for® with coupons attached, in the denominations of
#100, #500, )1,000, #5,000, ##0,000 and #100,000,
Applications will be received at the Federal Reserve banks and branches,
and at the Treasury Department, Washington,
Banking institutions generally
may submit subscriptions for account of customers, but only the Federal Be*
serve banks and the Treasury Department are authorized to act as official
agencies*
With respect to cash subscriptions for either the Treasury bends
or the Treasury notes, applications from incorporated banks and trust
companies for either issue for their own account will be received without
deposit but will be restricted in each case and for each offering to an
amount not exceeding one-half of the comaimed capital and surplus of the
subscribing bank or trust company,
Dash subscriptions from all others
must be accompanied, if for #5,000 or less by payment in full; and,if for
more than #5,000, by payment of 10 percent of the amount applied for, but
not less than #5,000.
With respect to exchange subscriptions for either
bonds or notes, subscriptions should be accompanied by a like face amount
of 1-1/8 percent Treasury notes of Series 1*1955 or of 3*1/4 percent
Treasury notes of Series A-1936, tendered in payment.
Subject to the reservations set forth in the official circulars, cash
subscriptions for amounts up to and including #5,000 will be given preferred
allotment,
oj^TSabser-lpilen.afha I KfliJtlfil, cash subscriptions for amounts orer 15,000
will be allotted on an
TREASURY I»ABSESKR?
Washington
Press Service
Mo. 7 — # £
FOB
MOHNXHG IBiSPAPliS,
Monday. June 1, 1936.
©cretary of the Treasury Morgeathau is today offering for subscription,
at par and accrued interest, through the Federal Beserve banks #500,000,000,
or thereabouts, of 15*18-year 2-3/4 percent Treasury bonds of 1951-54, and
B-1941*
The holders of 1-1/8 percent Treasury notes of Series E-1936 maturing
June 15, 1936, and of 3-1/4 percent Treasury notes of Series A-1936 maturing
August 1, 1936, are offered the privilege of exchanging such notes either for
the Treasury bonds or the Treasury notes, the exchange to be made per for par,
with an adjustment of accrued interest as of June 15, 1936, on notes of Series
A-1936, and to the extent each exchange privilege is availed of, the offering
of bonds or of notes may be increased.
The Treasury bonds of 1981-54 now offered for cash, and in exchange for
Treasury notes maturing June 18 and August 1, 1936, will be dated June IS,
1936, and will bear interest from that date at the rate of 2-3/4 percent per
annua payable semiannually.
They trill nature June 18, 1954, but may be re
deemed at the option of the United States on and after June 15, 1951.
The Treasury notes of Series B-1941, also offered for cash, and in ex
change for Treasury notes maturing June 18 and August 1, 193,6, will be dated
June 18, 1936, and will bear Interest from that date at the rate of 1-3/8
percent per annum payable semiannually*
They will mature June 15, 1941, and
will not be subject to call for redemption before that date*
the Treasury bonds and the Treasury notes will be accorded the same exemp
tions from taxation as are accorded other issues of Treasury bonds and Treasury
notes, respectively, now outstanding.
These provisions are specifically set
forth in the official circulars issued today.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING'NEWSPAPERS,
Monday, June 1, 1936,___________
5-29-36
Press Service
No, 7-45
Secretary of the Treasury Morgenthau is today offering for subscription,
at par and accrued interest, through the Federal Reserve "banks $600,000,000,
or thereabouts, of 15-18-year 2-3/4 percent Treasury bonds of 1951-54, and
$400,000,000, or thereabouts, of 5-year 1-3/8 percent Treasury notes of Series
B-1941.
The holders of l-l/8 percent Treasury notes of Series E-1936 maturing
June 15, '1936, and 3-l/4 percent Treasury notes of Series A-1936 maturing
August 1, 1936, are offered the privilege of exchanging such notes either for
the Treasury bonds or the Treasury notes, the exchange to be made par for par,
with an adjustment of accrued interest as of June 15, 1936, on notes of Series
A-1936, and to the extent such exchange privilege is availed of, the offering
of bonds or of notes may be increased.
The Treasury bonds of 1951-54 now offered for cash, and in exchange for
Treasury notes maturing June 15 and August 1, 1936, will be dated June 15, 1936,
and will bear interest from that date at the rate of 2—3/4 percent per annum
payable semiannually.
They will mature June 15, 1954, but.may be redeemed at
the option of the United States on and after June 15, 1951.
The Treasury notes of Series B-1941, also offered for cash, and in ex
change for Treasury notes maturing June 15 and August 1, 1936, will be dated
June 15, 1936, and will bear interest from that date at the fate of 1-3/8 per
cent per annum payable semiannually.
They will mature.June 15, 1941, and will
not be subject to call for redemption before that date.
The Treasury bonds and the Treasury notes will be accorded the same ex
emptions from taxation as are accorded other issues of Treasury bonds and
Treasury notes, respectively,, now outstanding.
These provisions are specifically
set forth in the official circulars issued today*
The Treasury bonds will he issued in two forms, hearer bonds with interest
coupons attached, and bonds registered as to both principal and interest; both
forms will be issued in the denominations of $50, $100, $500, $1,000, $5,000,
$10,000 and $100,000*
The Treasury notes will be issued only in bearer form
with coupons attached, in the denominations of $100, $500, $1,000, $5,000,
$10,000 and $100,000.
Applications will be received at the Federal Reserve banks and branches,
and at the Treasury Department, Washington.
Banking institutions generally
may submit subscriptions for account of customers, but only the Federal Reserve
banks and the Treasury Department are authorized to act as official agencies.
With respect to cash subscriptions for either the Treasury bonds or the Treasury
notes, applications from banks and trust companies for either issue for their
own account will be received without deposit but will be restricted in each case
and for each offering to an amount not exceeding one-half of the combined capital
and surplus of the subscribing bank or trust company.
Cash subscriptions from
all others must be accompanied, if for $5,000 or less by payment in full; and,
if for more than $5,000, by payment of 10 percent of the amount applied for, but
not less than $5,000.
With respect to exchange subscriptions for either bonds or
notes, subscriptions should be accompanied by a like face amount of 1-1/8 percent
Treasury notes of Series E-1936 or of 3-1/4 percent Treasury notes of Series A-1936
tendered in payment.
Subject to the reservations set forth in the official circulars, cash
subscriptions for amounts up to and including $5,000 will be given preferred
allotment, cash subscriptions for amounts over $5,000 will be allotted
on an equal percentage basis, but not less than the'maximum preferred
allotment, and exchange subscriptions will he allotted in full.
Payment for any "bonds or notes allotted must he made or completed on
or before June 15, 1936,
If Treasury notes maturing August 1, 1936, are tendered
coupon due August 1 ; 1936 must he attached to the notes, and accrued_interest on
such notes to June 15, 1936, will he paid following their acceptance.
The right is reserved to close the hooks as to any or all subscriptions
or classes of subscriptions at any time without notice, either for the Treasury
bonds or the Treasury notes and with respect to the cash offering or with re
spect to the exchange offering of either.
In older to provide an equitable allotment and distribution of securities
to all classes of subscribers, all banking institutions and others concerned are
urged to cooperate in making effective the procedure outlined in Department
letter of May 27, 1936, addressed to the President of ea,ch of the twelve Federal
Reserve banks and made public at that time.
Interest on the public debt to the amount cf about $116,000,000 is
payable on June 15. 1936,
The amount of Treasury notes of Series E-1936
maturing on June 15, 1936, is $686,616^,400, and of Series A-1936 maturing on
August 1, 1936, is $364,138,000.
The texts of the official circulars follow;
UNITED STATES OP AMERICA
2-3/4 PERCENT TREASURY BONDS OF 1951-54
Dated and Bearing interest from June 15, 1936
Due June 15, 1954
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER JUNE 15, 1951
Interest payable June 15 and December 15
1936
*
Department Circular No. 561
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, June 1, 1936,
Public Debt Service
I.
1.
OFFERING OF BONDS
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at pat* and accrued interest, from the people of the United States for 2-3/4 per
cent bonds of the United States, designated Treasury Bond.s of 1951-54.
The amount
of the offering is $600,000,000, or thereabouts, with the right reserved to the
Secretary of the Treasury to increase the offering by an amount sufficient to
accept all subscriptions for which Treasury Notes of Series E-1936, maturing
June 15, 1936, or Treasury Notes of Series A-1936, maturing August 1, 1936, are
tendered in payment and accepted.
II.
1.
DESCRIPTION OF BONDS
The bonds will be d,atcd June 15, 1936, and will bear interest from that
de.te at the rate of 2-3/4 percent per annum, payable semiannually, on December 15,
1936, and thereafter on June 15,and December 15 in each year until the principal
amount becomes payable.
They will mature June 15, 1954, but may be redeemed at the
option of the United. States
on and c
after June 15, 1951, in whole or in part, at
par and. accrued interest, on any interest day or days, on 4 months* notice of
redemption given in such manner as the Secretary of the Treasury shall prescribe.
In ca.se of partial redemption the bonds to be redeemed will be determined by such
method as may be prescribed by the Secretary of the Treasury,
From the date of
2
redemption designated in any such notice, interest on the "bonds called for re
demption shall cease.
2,
The "bonds 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, or gift 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 individ
uals, partnerships, associations, or corporations.
The interest on an amount of
bonds authorized by the Second Liberty Bond Act, approved September 24, 1917, as
amended, 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.
3*
The bonds will be acceptable to secure deposits of public moneys, but
will not bear the circulation privilege and will not be entitled to any privilege
of conversion,
4,
Bearer bonds with interest coupons attached, and bonds registered as to
principal and interest, will be issued in denominations of $50, $100, $500,
$1,000, $5,000, $10,000 and $100,000.
Provi sion will be made for the interchange
of bonds of different denominations and of coupon and registered bonds, and for
the transfer of registered bonds, under rules and regulations prescribed by the
Secretary of the Treasury,
5.
The bonds will be subject to the general regulations of the Treasury
Department, now or hereafter prescribed, governing United States bonds.
~3~
III.
1.
SUBSCRIPTION AND ALLOTMENT
Subscriptions will be received at the Federal Reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally may
submit subscriptions for account of customers, but only the Federal Reserve banks
and the Treasury Department are authorized to act as official agencies.
Others
than banking institutions will not be permitted to enter subscriptions except
for their own account.
Cash subscriptions from banks and trust companies for their
own account will be received without deposit but will be restricted in each case
to an amount not exceeding one-half of the combined capital and surplus of the
subscribing bank or trust company.
Cash subscriptions from all others must be
accompanied, if for $5,000 or less by payment in full; and, if for more than $5,000,
by payment of 10 percent of the amount of bonds applied for, but not less than
$5,000.
The Secretary of the Treasury reserves the right to close the books as
to any.or all subscriptions or classes of subscriptions at any time without notice.
2,
The Secretary of the „Treasury reserves the right to reject any subscrip
tion, in whole or in part, to allot less than the amount of bonds applied for,
to make allotments in full upon applications for smaller amounts and to
make reduced allotments upon, or to reject, applications for larger amounts,
or to adopt any or all of said methods or such other methods of allotment and
classification of allotments as shall be deemed by him to be in the public
interest; and his action in any or all of these respects shall be final.
Subject
to these reservations, cash subscripUons for amounts up to and including $5,000
will be given preferred allotment; cash subscriptions for amounts over $5,000
will be allotted on an equal percentage basis, but not less than the maximum
preferred allotment; and subscriptions in payment of which Treasury Notes of
Series E-*1936 or Treasury Notes of Series A-1936 are tendered will be allotted
- 4 -
in full.
Allotment notices will “
be sent out promptly upon allotment, and the
basis of the allotment will be publicly announced.
IV,
1.
PAYMENT
Payment at par and accrued interest, if any, for bonds allotted on cash
subscriptions must be made or completed on or before June 15, 1936, or on later
allotment.
In every case where payment is not so completed, the payment with
application up to 10 percent of the amount of bonds applied for shall, upon
declaration made by the Secretary of the Treasury in his discretion, be forfeited
to the United States.
Any qualified depositary will be permitted to make payment
by credit for bonds 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 Pederal Reserve bank of its district.
Treasury Notes of Series E-1936,
maturing June 15, 1936, will be accepted at par in payment for any bonds sub
scribed for and allotted.
Treasury Notes of Series A-1936, maturing August 1,
1936, with coupon dated August 1, 1936, attached, will be accepted at par with
an adjustment of accrued interest as of June 15, 1936, in payment for any bonds
subscribed for and allotted.
Payment through surrender of Treasury Notes of
Series E-1936 or of Series A-1936 should be made when the subscription is tendered,
V,
1.
GENERAL PROVISIONS
As fiscal agents of the United States, Federal Reserve banks are author
ized and requested to receive subscriptions, to make allotments on the ba-sis and
up to the amounts indicated by the Secretary of the Treasury to the Federal Re
serve banks of the respective districts, to issue allotment notices, to receive
payment for bonds allotted, to make delivery of bonds on full-paid subscriptions
allotted, and they may issue interim receipts pending delivery of the definitive
bonds.
- 5 2.
The Secretary of the Treasury may at any time, or from time to time,
prescribe supplemental or amendatory rules and regulactions governing the offer
ing, which will be comraunica.ted promptly to the Federal Reserve banks.
HENRY MORGEHTHAU, JR.,
Secretary of the Trec
asury,
UNITED STATES OF AMERICA
1-3/8 PERCENT TREASURY NOTES OE SERIES B-1941
Dated, and "bearing interest from June 15, 1936
Due June 15, 1941
Interest payable June 15 and December 15
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, June 1,1936
1936
Department Circular No, 562
Public Debt Service
I.
OFFERING OF NOTES
1, The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at par and accrued interest, from the people of the United States for 1-3/8 per
cent notes of the United States, designated Treasury Notes of Series B-1941, The
amount of the offering is $400,000,000, or thereabouts, with the right reserved
to the Secretary of the Treasury to increase the offering by an amount sufficient
to accept all subscriptions for which Treasury Notes of Series E-1936, maturing
June 15, 1936, or Treasury N0tes of Series A--1936, maturing August 1, 1936, are
tendered in payment and accepted.
II.
DESCRIPTION OF NOTES
1, The notes will be dated June 15,1936, and will bear interest from that
date at the rate of 1-3/8 percent per annum, payable semiannually, on December 15,
1936, and thereafter on June 15 and December 15 in each year.
They will mature
June 15, 1941, and will not -be subject to call for redemption prior to maturity.
2, The notes shall be exempt, both as to principal and interest, from all
taxation(except estate or inheritance taxes, or gift taxes) 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,
3, The notes will be accepted at par 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
notes.
4.
The notes will be acceptable to secure deposits of public moneys, but
will not bear the circulation privilege.
5,
Bearer notes with interest coupons attached will be issued in denomi
nations of $100, $500, $1,000, $5,000, $10,000 and $100,000.
The notes will
not be issued in registered form.
III.
1.
SUBSCRIPTION AND ALLOTMENT
Subscriptions will be received at the Federal Reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally may
submit subscriptions for account of customers, but only the Federal Reserve banks
and the Treasury Department are authorized to act as official agencies.
Others
than banking institutions will not be permitted to enter subscriptions except
for their own account.
Cash subscriptions from banks and trust companies for
their own account will be received without deposit but will be restricted in each
case to an amount not exceeding one-half of the combined capital and surplus of
the subscribing bank or trust company.
Cash subscriptions from all others must be
accompanied, if for $5,000 or less by payment in full; and, if for more than $5,000
by payment of 10 percent of the amount of notes applied for, but not less than
$5,000.
The Secretary of the Treasury reserves the right to close the books as.to
any or all subscriptions or classes of subscriptions at any tine without notice.
2.
The Secretary of the Treasury reserves the right to reject any sub
scription, in whole or in part, to allot less than the amount of notes applied
for, to make allotments in full upon applications for smaller amounts and to
make reduced allotments upon, or to reject, applications for larger amounts,
or to adopt any or all of said methods or such other methods of allotment and
classification of allotments as shall be deemed by him to be in the public
3
interest;
and his action in any or all of these respects shall be final.
Subject to these reservations, cash subscriptions for amounts up to and in
cluding $5,000 will be given preferred allotment;
cash subscriptions for
amounts over $5,000 will be allotted on an equal percentage basis, but not
less than the maximum preferred allotment;
and subscriptions in payment of
which Treasury Notes of Series E-1936 or Treasury Notes of Series A-1936 are
tendered will be allotted in full.
Allotment notices will be sent out promptly
upon allotment, and the basis of the allotment will be publicly announced.
IV.
1.
PAYMENT
Payment at par and accrued interest, if any, for notes allotted on
cash subscriptions must be made or completed on or before June 15, 1936, or
on later allotment.
In every case where payment is not so completed, the pay
ment with application up to 10 percent of the amount of notes applied for shall,
upon declaration made by the Secretary of the Treasury in his discretion, be
forfeited to the United States.
Any qualified depositary will be permitted
to make payment by credit for notes 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 Notes of
Series E-1936, maturing June 15, 1936, will be accepted at par in payment for any
notes subscribed for and allotted.
Treasury Notes of Series A-1936, maturing
August 1, 1936, with coupon dated August 1, 1936, attached, will be accepted at
par with an adjustment of accrued interest as of June 15, 1936, in payment for
any notes subscribed for and allotted.
Payment through surrender of Treasury
Notes of Series E-1936 or of Series A-1936 should be made when the subscription
is tendered.
- 4 ~
V.
1.
GENERAL PROVISIONS
As fiscal agents of the United States, Federal Reserve hanks 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 of the respective districts, to issue allotment
notices,, to receive payment for notes allotted, to make delivery of notes on
full-paid subscriptions allotted, and they may issue interim receipts pending
delivery of the definitive notes.
,2.
The Secretary of the Treasury may at any time, or from time to time,
prescribe supplemental or amendatory rules and regulations governing the
offering, which will be communicated promptly to the Federal Reserve banks.
HENRY MORGENTEAU,' JR. ,
Secretary of the Treasury.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
June 1, 1936
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended May 29, 1936:
Philadelphia ............
San Francisco
........ .......
Denver.................. ........
Total for week ended May 29, 1936..
Total receipts through May 29, 1936
286,594.32 fine ounces
9,454.12
H
»
296,048.44
»
»
84,250,688.30
n
w
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended May 29, 1936:
Philadelphia .......................
New York.................. ..........
San Francisco ............. .........
Denver .............................
, New Orleans ........ ................
Seattle .............................
Total for week ended May 29, 1936 .
Total receipts through May 29, 1936
7,302.00 fine ounces
5,159.20
"
#
354.00
»
"
477.83
"
»
13,293.03
112.817,501.29
"
»
»
»
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended May 29, 1936:
Imports________ Secondary ______Domestic
Philadelphia................. $
13,114.82 $103,518.16 $
57.12
New York .....................18,033,500.00
110,700.00
142,700.00
San Francisco... ......
553,260.76
25,404.22
690,579.51
Denver--- ,.......
10,971.53
11,796.68
660,710.46
11,190.99
24,966.98
691.82
New Orleans...................
Seattle.....................
.........
8.535.78
379.012,79
Total for weekended May 29, 1936.$18,622,038.10 $284,921.82 $1,873,751.70
GOLD RECEIVED BY FEDERAL RESERVE BANKS AMD THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended May 27........ .
Received previously.. ........ .
Total to May 27................
Received by Treasurer *s Office:
Week ended May 27....... ....
Received previously..........
Total to May 27.............
NOTE:
Gold Coin
$
15,084.86
31.546.969.59
$31,562,054.45
Gold Certificates
$
194,240.00
107,823.200.00
$108,017,440.00
$
$
268.256.00
268,256.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
$
3,400.00
2.457.720.00
2,461,120.00
District and City
Bridgeport*
Conn*
Total
Inspections
964
Inspections on which
violations were
found \
Number
Percept
82
9^
—
Total
Violations
Pound
87
Amount 1
Collected!
#1,098*11
3-
¿fötal
Dealers
PistrjteTE and City*"
Inspected
Plating
Number Pepaefft
Collected
#10
New Orleans, La »
Dallas,
Tex.
w
El Paso,
ft
Ft. Worth,
ft
Houston,
« sjfSà
San Antonio,
District Total
8 ,1 0 0
3 ,7 6 8
1 ,2 3 3
2 ,6 5 6
4 ,5 7 4
3 ,2 1 1
2 3 ,5 4 2
#u
Little Sock,
Ark.
Kansas City,
Kans.
«
Wichita,
Kansas City,
Mo.
«
St. Louis,
Oklahoma City , Okla.
t»
Tulsa,
District Total
61
2 ,8 0 0
1 ,7 7 8
6 ,1 1 7
9 ,1 6 4
1 ,4 7 8
1 ,3 3 3
2 2 ,7 3 1
107
107
209
662
108
95
1 ,2 8 8
#12
Iowa
Des Moines,
tt
Sioux City,
Duluth,
Minn.
tt
Minneapolis,
tt
St. Paul,
,Qmaha,
Nebr.
District Total
1 ,4 2 0
197
873
6 ,1 4 9
4 ,3 0 2
1 ,3 0 9
14,250
173
20
82
160
236
188
859
#13
Denver,
Colo.
ry/_ Salt Lake City, Utah
District Total
4,082
2,548
6,630
#14
Long Beach,
Calif.
Los Angeles,
n
Oakland,
"
Sacramento,
”
San Diego,
\ San Francisco,
•
District Total
#15
Portland,
Ore.
Seattle,
Wash.
Spokan4,
Tacoma,
*
District Total
309
221
110
104
209
151
1 ,1 0 4
4#
6
9
4
5
5
5^
338
237
117
113
217
153
1 ,1 7 5
# 5 ,0 0 8 .1 0
4 ,6 7 0 .6 2
2 ,2 3 8 .6 9
2 ,1 1 7 .3 3
4 ,4 3 2 .6 6
3 ,0 6 2 .6 2
# 2 1 ,5 3 0 .0 2
(V)\
in
v<
HI
113
111
228
774
128
122
1 ,4 7 6
$ 2 ,7 7 6 .1 4 HA.
3 ,0 1 5 .6 4 ? ?
4 ,5 7 2 .7 9 H
1 6 ,8 3 6 .1 9 m
3 ,7 0 6 .2 4 t\
3 ,8 9 1 .6 7 9Ì
# 3 4 ,7 9 8 .6 7
12#
10
9
3
5
14
188
22
117
169
251
206
953
clA
# 5 ,9 9 9 .9 4 (
tri
5 0 4 .3 2
3 ,1 7 3 .4 9 b/
3 ,2 1 1 .8 6 d
4 ,7 0 3 .3 8 dii
3 ,7 2 3 .3 7 3 3 .
337
158
495
8#
6
364
168
532
#5,399.40
2,005.76
#7,405.16 2V
3,183
18,403
5,044
1,061
4,024
7,566
39,281
160
1,141
138
75
322
442
2,278
5#
179
1,291
162
80
392
514
2,618
#2,945.99
25,110.16
3,808.35
1,310.11
5,857.75
10,908.88
#49,941.24
4.090
4,962
1,782
1,246
12,080
314
429
33
27
803
340
476
33
27
876
#5,491.11
8,313.58
481.83
515.52
#14,802.04
43,216
;794,543.74
W
6
3
7
8
6
w
&fo
9
2
2
W
X
U. S. Total
/7
—
-%
4
6
3
7
7
7
H
(*\
*
370,652
36,301
10#
:
A
a'
D
u3I
/Ì
4V']
1
-
2-
Found
. Violât ing,*^
Numb er JPercent
^
Totals
ZP*
■|tf
Vi piatiion s
Found
II.1
-1■ ■■' 1 ■»<*!■
Amount
Collected
Distri^tT and City
_—
Washington,
D. C.
Baltimore,
Md.
W in st on-Salem,
, N. C.
7a.
Norfolk,
«
Richmond,
Huntington,
W. 7a.
District Total
#6
Ala.
Birmingham,
«
Mobile,
«
Montgomery,
7 ,1 7 2
9 ,4 6 0
70
1 ,3 8 6
1 ,9 2 0
67
2 0 ,0 7 5
454
480
9
96
146
1
1 ,1 8 6
41
143
113
3 ,3 4 1
1 ,1 9 2
1 ,2 8 2
3 ,4 6 7
236
9 ,8 1 5
20
15
41
114
233
140
249
29
841
49#
10
36
3
20
11
7
12
20
15
52
119
249
144
252
31
882
$ 1 4 4 . 92
1 8 8 . 76 ò ì
7 1 2 . 43 vi
2 ,1 5 7 . 99 Vi
4 ,4 0 2 . 42 3 3
3 ,5 5 0 . 71 fc'J
6 ,4 3 7 . 63
5 4 5 . 29
,1 4 0 . 15
3 ,4 2 4
1 ,1 7 4
1 ,2 6 4
2 ,7 1 9
2 ,9 8 7
1 1 ,5 6 8
239
131
167
142
187
866
7#
11
13
5
6
7#
268
136
199
153
204
960
5 ,0 2 1 .8 0
3 ,8 8 2 .2 2
5 ,6 1 5 .2 9
2 ,8 4 3 .1 6
4 ,6 1 0 .7 5
,9 7 3 .2 0
1 7 ,3 2 8
1 ,9 7 5
2 ,1 2 5
380
2 ,4 7 7
1 ,2 1 9
4 ,8 2 6
6 ,1 6 8
2 ,9 8 3
2 ,1 5 9
3 ,2 4 7
1 ,8 8 0
4 6 ,7 6 7
2 ,4 3 0
264
301
48
410
246
652
1 ,6 0 2
552
503
297
436
7 ,7 4 1
14#
13
14
13
17
20
14
26
19
23
9
23
17#
2 ,9 9 0
309
357
54
447
294
838
2 ,2 3 0
690
571
330
531
9 ,6 4 1
2 3 ,9 6 7
934
221
792
1 ,2 3 5
1 ,4 8 9
2 ,8 8 2
1 ,2 7 7
6 ,5 5 3
3 9 ,3 5 0
3 ,1 7 5
164
58
74
96
180
550
118
1 ,0 2 3
5 ,4 3 8
13#
18
26
9
8
12
19
9
16
14^
4 ,3 1 2
219
68
84
113
230
736
129
1 ,1 2 9
7 ,0 2 0
Jacksonville, Fla.
«
Miami,
«
Tampa,
Atlanta,
Ga.
«
Savannah,
District Total
#7
Ky.
Louisville,
Chattanooga, Tenn.
ft
Knoxville,
it
Memphis,
«
Nashville,
District Total
#8
Detroit,
Mich.
n
Flint,
tt
Grand Rapids,
«
Lansing,
Akron,
Ohiò
tt
Canton,
«
Cincinnati,
tt
Cleveland,
»
Columbus,
«
Dayton,
«
Toledo,
n
Youngstown,
District Total
#9
Chicago,
111.
tt
Peoria,
tt
Rock Island,
Evansville,
Ind.
«
Ft. Wayne,
«
Gary,
Indianapolis, n
«
South Bend,
Milwaukee,
Wise.
District Total
6#
5
13
7
8
1
~Wo
542
574
9
115
178
1
1 ,4 1 9
$1 0 ,2 0 6W2.2
9 ,4 6 0 .4 9
2 1 2 .7 4 '*7\
2 ,5 5 3 .2 4
3 ,6 0 5 .3 9 I t
2 7 .5 0
,0 6 6 .2 8
$ 5 6 ,3 5 7 .76 i i
4 ,9 8 4 .57
6 ,4 8 6 .49 M
539
7 ,7 0 7 .15
4 ,4 4 4
1 3 ,8 9 7 .98
4 8 ,1 0 4 .02 i i
1 1 ,3 3 0 .96
/u
7 ,3 1 3 .07
5 ,2 9 7 .38
7 ,9 2 1 .99
$ 1 7 4 ,3 8 4 .74
.20
8 3 ,3 3 8 .6 8
4 ,5 7 5 .8 7
1 ,4 2 5 .5 6
1 ,5 5 9 .7 6
2 ,1 8 3 .5 2
5 ,4 6 6 .0 0
1 6 ,9 7 4 .6 5
2 ,4 3 9 .0 0
2 0 ,6 9 2 .6 1
3 8 ,6 5 5 .6 5
V
£
*
t
f 1
¿(f
-7
Bridgeport,
Conn.
Hartford,
n
New Haven,
«
Waterbury,
Boston,
Mass.
tt
Cambridge,
«
Fall River,
«
Lowell,
tt
Lynn,
tt
New Bedford y
«
Somerville,
tt
Springfield >
«
Woreestor,
Providence,
R. I.
District Total
964
2 ,2 1 5
2 ,0 1 1
296
5 ,9 8 6
1 ,0 1 1
885
887
996
993
822
2 ,3 4 5
2 ,2 1 4
3 ,0 3 1 ,
2 4 ,6 5 6
82
124
221
23
558
44
27
58
56
32
64
81
194
126
1 ,6 9 0
9$
6
11
8
9
4
3
7
6
3
8
3
9
4
87
148
242
23
666
45
27
76
57
32
77
102
256
141
1 ,9 7 9
#2
Albany,
Buffalo,
New York,
Röchest or,
Syracuse,
Utica,
Yonkers,
District
1 ,6 0 7
4 ,7 2 3
4 3 ,9 8 0
2 ,2 1 2
1 ,2 7 5
705
1 ,6 9 9
5 6 ,2 0 1
148
344
4 ,7 2 1
176
87
114
316
5 ,9 0 6
9%
7
11
8
7
16
19
w
161
364
5 ,5 2 3
189
99
128
360
6 ,8 2 4
1,222
121
10%
17,026
1,236
821
7
13
120
10
10
132
1,356
971
130
284
2,873
#2,311.55
26,453.57 3 ■
16,119.88 t/1
2,632.84 3 k
6,329^64 vi
#53,847.48 %
130
234
315
972
1,286
597
454
3,988
#1,653.28
2,713.68
3,246.89
10^693.61
12*402.25
5,567.74
5,151.09
#41,428.54
N . Y.
« n
« «
tt «
tt tt
tt «
« «
Total
#3
Erie,
Pa.
Philadelphia, P a .
«
Pittsburgh,
«
Reading,
«
Scranton,
District Total
#4..
Wi liningt on, Del.
Camden,
N. J.
« tt
Elizabeth,
Jersey City ti tt
« tt
Newark,
« tt
Paterson,
tt
tt
Trenton,
'V District Total
6,122
1,232
2,465
28,067
1,294
1,582
1,033
4,071
3,373
2,131
2,155
15,639
254
2,552
111
210
274
818
987
509
345
3,254
H
13'
27
20
29
24
16
21%
il,098.11 7
2.093.08 /
3,048.44 ,
262.19 f
10,164.06 d
608.73 2
270.00
884.99 tn
713.36 t1\
362.25 f
1,496.12
1.591.09
2,780.02 ai
2,209.32^
Ï27,581.76 >/!
13,448.62
4,664,24
121,092,68
3,467.64
1,418.83
2,198.66
6,581.78
|142,672.45
i
*
fr
3
*
*
H
f]
s\
v !
A
/
J
t
3i
(2)
The work of the "relief inspectors" supplements
inspections by a smaller force
of inspectors and junior inspectors who are permanent employes of the Alcohol Tax
Unit*
The summary of the monthly intiiKf "relief inspections" and
their results, follows:
Month
Average No«
Inspectors
Number of
Inspections
Inspections on
which violatièns
were found
Number of
Violations
Total amount
collected from
violators
1935
$
Sept«
0ct •
Nov«
Dec«
801
778
783
787
48,294
43,160
39,760
44,051
6,182
6,136
4,352
3,877
7,324
7,213
5,271
4,542
119,969.22
133,376.85
101,795.43
90, 929«53
780
775
787
808
46,036
48,422
51,036
49,893
3,785
3,764
4,127
4,078
4,553
4,501
4,864
4,948
84,731.66
82,522.66
88,019.18
93,199.21
370,652
36,301
43,216
794,543.74
1936
Jan«
Feb«
March
April
Total
The ten cities added to the original list of 94 and the dates
on which they were added* are*
Waterbury,Conn.,Feb«,22
111«* and Sioux City, la.,Mar . , 1 4
; Lansing,Mich«,Mar*,21 ; Savannah, Ga«,Mar .,2 8 j
Mobile*Ala«,Apr.,4 ; Montgomery,Ala«,Apr« ,1 1
Rock,Ark«,Apr.,29«
% Sacramento*Cal«,Feb«*29 s Rock Island)
; Birmingham*Ala«*Apr« ,1 8 and Little
Statistics showing the progress of the retail liquor dealer
inspection project, during the eight months ending April 30, were made public today
by Stewart Berkshire, deputy commissioner in charge of the Alcohol Tax Unit of the
Bureau of Internal Revenue*
The project,launched last September and financed by the Works
Progress Administration funds, a self supporting activity, gives employment to about {
relief workers* During the period covered by the statement these workers made a total
of 370,652 inspections* Of these 36,301 resulted in the discovery of one or more
violations* A total of 43,216 violations was reported*
A total of $794,543*74 was collected from violators* The
cost of the project in the same period was
$669,745*
The report shows a steady decrease in the number of violations
discovered, from September,1935, to February,1936, inclusive, during which inspections
were made in 94 cities* Beginning in the latter part of February and in succeeding
months, ten cities were added to the original 94* The result was a slight increase
in the fadorib number of violations over the February figure.
Deputy Commissioner Berkshire cited as benefits derived
from the projects
The consistent decline in the percentage of violations
discovered on "repeat” inspections; the protection of federal liquor revenues,
with collections exceeding the expense of the project; the systematic education
of the liquor dealers in the requirements of internal "revenue laws,and the useful
employment provided for the workers taken from rel5©f rolls*
The inspections were undertaken only after relief workers
had been given thorough training by permanent Internal Revenue employes, who
continued to supervise the work, and after retail liquor dealers had been given
comprehensive instructions as to the federal laws and regulationsjj^verning them#
TREASURY DEPARTMENT
Washington
\
FOR RELEASE,AFTERNOON NEWSPAPERS,
Wednesday. June 3, 1936, ________
6-1-36
Press Service
No. 7-46
Statistics showing the progress of the retail liquor dealer inspection project,
during the eight months ending April 30, were made public today by Stewart Berkshire
Deputy Commissioner in charge of the Alcohol Tax Unit of the Bureau of Internal
Revenue,
The project, launched last September and financed by the Works Progress
Administration funds, a self-supporting activity, gives employment to about 800
relief workers.
During the period covered by the statement these workers made a
total of 370,652 inspections.
more violations.
Cf these 36,301 resulted in the discovery of one or
A total of 43,216 violations was reported.
A total of $794,543.74 was collected from violators.
The cost of the project
in the same period was $669,745.
The report shows a steady decrease in the number of violations discovered,
from September, 1935, to Eebruary, 1936, inclusive, during which inspections were
made in 94 cities.
Beginning in the latter part of February and in succeeding roont!
ten cities Were added to the original 94.
The result was a slight increase in the
number of violations over the February figure.
Deputy Commissioner Berkshire cite^, as benefits derived from the project!
The consistent decline in the percentage of violations discovered on 11repeat”
inspections; the protection of Federal liquor revenues, with collections exceeding
the expense of the project;.the systematic education of the liquor dealers in the
requirements of internal revenue laws, and the useful employment provided for the
workers taken from relief rolls.
The inspections were undertaken only after relief workers had been given
thorough training by permanent Internal Revenue employes, who continued to supervis
the work, and after retail liquor dealers had been given comprehensive instructions
as to the Federal laws and regulations governing them.
The work of the "relief inspectors” supplements inspections by a smaller force
of inspectors and junior inspectors who are permanent employes of the Alcohol Tax
Unit.
The summary of the monthly "relief inspections” and their results, follows!
Month
Average No.
Inspectors
Number of
Inspections
Inspections on
which violations
were found
Number of
Violations
Total amoiint
collected from
violators
1935
Sept.
Oct.
Nov.
Dec.
801
778
783
787
48,294
43,160
39,760
44,051
6,182
6,136
4,352
3,877
7,324
7,213
5,271
4,542
$119,969,22
133,376.85
101,795.43
90,929.53
780
775
787
808
46,036
48,422
51,036
49,893
3,785
3,764
4,127
4,078
4,553
4,501
4,864
4,948
84,731,66
82,522,66
88,019.18
93,199.21
370,652
36,'Jl
43,216
$794,543.74
1936
Jan.
Feb.
Mar.
Apr.
TOTAL
The ten cities added to the original list of 94 and the date s oil which they
were added, are:
Wa terbury, Conn., Feb., 22; Sacramento, Calif., Feb. 29 ; Rodc Island, 111.,
and Sioux City, Iowa,., March 14; Lansing, Mich., Mar . 21; Savannah, Ga., Mar. 28;
Mobile, Ala., April 4; Montgomeryr, Ala., April 11; B:irningham, Al;a., April 18 and
Little Rock, Ark., April 29.
The following table summarizes operations, by cities and districts for the
eight months period ending April 3d!
District and City
Inspections on which
violations were
T o t a l _______f ound________
Humber
Inspections
Percent
Total
Violations
Pound
Amount
Collected
#x
Bridgeport,
Conn,
H
Hartford,
If
Hew Haven,
II
Waterbury,
Mass,
Boston,
ii
Cambridge,
it
Tall Biver,
ti
Lowell,
i
t
Lynn,
«
lew Bedford,
ti
Somerville,
ii
Springfield,
i
t
forcaste r,
Providence,
B. I.
District Total
964
2,215
2,011
296
5,986
1,011
885
887
996
993
822
• 2,345
2, 214
3,031
24,656
82
124
2 2 1
33
558
44
27
58
56
32
64
81
194
126
1 , 0 0
9$
6
11
8
9
4
3
7
6
3
8
3
9
4
7i
87
148
243
33
666
45
27
76
57
32
77
102
256
141
1,979
$1,098.11
2,093.08
3,048.44
262.19
10,164,06
608.73
270,00
834.99
713,36
362.25
1,496.12
1,521,09
2,780.02
2,209.32
$27,581.76
161
364
5,523
189
99
128
360
6,824
$3,448.62
*3:,o64* 24
121,092.68
3,467.64
1,418.83
2,198.66
6,381,78
$142,672.45
132
1,356
971
130
284
2,873
$2, 311.55
36,453.57
16,119.88
2,632.84
6,329.64
$53, 847.*48
130
234
315
972
1,386
597
454
3,988
$1,653.28
2,713.68
3, 246.89
10,693.61
12,402.25
5,567.74
5,151.09
$41,438.54
#2
Albany,
I' • Vx •
II
Buffalo,
New York,' ft
It
Rochester,
II
Syracuse,
II
Utica,
II
Yonkers,
District Total
#3
Erie,
Pa.
ii
Philadelphia
i
t
Pittsburgh,
i
t
Reading,
ii
Scranton,
District Total
#4
Wilmington, Del.
Camden,
H.J.
it
Elizabeth,
it
Jersey City,
it
Newark,
tr
Paterson,
it
Trenton,
District Total
1,607
4,723
43,980
2,212
1,275
705
1,699
56,201
148
344
4, O X
1 Yu
87
114
316
5,906
9i
7
11
8
7
16
19
1 , 2 2 2
1, 232
2,465
28,067
121
1,236
321
120
254
2,552
104
7
13
10
10
1,294
1,582
1,033
4,071
3,373
2,131
2,155
15,639
111
210
274
818
987
509
345
3, 54
9i
13
17,026
6 ,1 2 2
ì l i
M
07
20
29
24
16
2 li
- 4 -
District and City
#5
Washington,
, D, C.
Baltimore,
Md.
Winston-Salem, il, C.
Va«
Norfolk,
it
Richmond,
Huntington,
ÏÏ. Va.
District Total
$6
Birmingham ,
Ala.
it
Motile,
»
Montgomery,
Jacksonville , Pia.
ti
Miami,
h
Tampa,
Atlanta,
Ga.
ti
Savannah,
District Total
Total
Inspect ions
Inspections on which
violations were
found
Number
Percent
Total
Violations
Pound
Amount
Collected
7,172
9,460
70
1,336
1,920
67
20,075
454
480
9
96
146
1
1,186
6$
5
13
7
8
1
6$
542
574
9
115
178
1
1,419
$10,206.92
9,460.49
212.74
2,553.24
3,605.39
27.50
$26,066.28
41
143
.113
3,341
1,122
1,282
3,467
236
9,815
■ 20
15
41
114
233
140
249
29
841
49$
10
36
3
20
11
7
12
H
20
15
52
119
249
144
252
31
882
$144.92
188.76
712,43
2,157.99
4,402.42
3,550.71
6,437.63
545.29
$18,140.15
3,424
1,174
1,264
2,719
2,987
‘11,568
239
151
167
142
137
866
7$
11
13
5
6
7$
268
136
199
153
204
960
$5,021.80
3,882.22
5,615.29
2,843.16
4,610.73
$21,973.20
17,328
1,975
2,125
380
2,477
1,219
4,826
6,168
2,983
2,159
3,247
1,380
46,767
2,430
264
1/71
48
410
(¿46
652
1,602
552
503
297
436
7 a741
14$
13
14
13
17
20
14
26
19
23
9
23
17$
2,990
309
357
54
447
294
838
2,230
690
571
330
531
- 9,641
$56,357.76
4,984.57
6,486.49
539.17
7,707.15
4,444.20
13,897.98
48,104.02
11,330.96
7,313.07
5,297.38
7,921.99
$174,384.74
23,967
934
221
792
1,235
1,489
2,882
1,277
6 s553
39 i 350
1 7*
=;
13$
18
26
9
8
12
19
9
16
14$
4,312
219
68
84
113
230
736
129
1,129
7,020
$83,338.68
4,575.87
1,425.56
1,559.76
2,183.52
5,466.00
16,974.65
2,439.00
20,692.61
$138,655.65
P
Louisville,
Ky
Chattanooga,
Tenn.
it
Knoxville,
t
i
Memphis,
t
i
Nashville,
District Total
#8
Detroit,
Mich.
it
Flint,
ti
Grand Rapids 1
ti
Lansing,
Akron,
Ohio
h
Canton,
it
Cincinnati,
»
Cleveland,
ti
Columbus,
ti
Dayton,
it
Toledo,
it
Youngstown,
District Total
#9
Chicago,
111.
ti
Peoria,
it
Rock Island,
Evansville,
Ind.
it
Ft. Wayne,
it
Gary,
t
i
Indianapolis »
i
t
South Bend,
Milwaukee,
Wise.
District Total
164
58
74
96
130
118
1,023
5,438
District and City
#10
New Orleans, La.
Tex.
Dallas,
if
SI Paso,
t!
St. Worth,
It
Houston,
I
I
San Antonio,
District Total
111
Little Rock, Ark.
Kansas City, Kans.
it
Wichita,
Kansas City, Mo.
it
St, Louis,
Oklahoma City, Okla.
ii
Tulsa,
District Total
#12
Iowa
Des Moines)
ti
Sioux City,
Minn.
Duluth,
II
Minneapolis,
St. Paul,
Omaha,
LTehr.
District Total
#13
Denver,
Colo.
Salt Lake City, Utah
District Total
#14
Long Beach,
Calif.
ti
Los Angeles,
I
I
Oakland,
i
t
Sacramento,
it
San Diego,
ii
San Francisco, n
District Total
#15
Portland,
Ore.
TT«-, ¿Jlfc
Seattle,
h
Spokane,
h
Tacoma,
District Total
U. S. Tot al
Total
Inspections
Inspections on which
violations were
__
found________
percent
Number
Total
Violations
Pound
Amount
Collected
8,100
3,768
1,233
2,656
4,574
3,211
23,542
309
221
110
104
209
151
1,104
6
9
4
5
5
61
2,800
1,778
6,117
9,164
1,478
1,333
22,731
107
107
209
662
108
95
1,288
4
6
3
7
7
7
6if,
113
111
228
774
128
122
1,476
$ 2,776.14
3,015.64
4,572.79
16,836.19
3,706.24
3,891.67
$34,798.67
1,420
197
873
6,149
4,302
1,309
14,250
173
20
82
160
236
188
859
12fo
&fo
188
22
117
169
251
206
953
$ 5,999.94
504.32
3,173.49
3,211.86
4,703.38
3,723.37
$21,316.36
4,082
2 «548
'6,630
337
158
495
8f
6
7fo
364
168
532
$ 5,399.40
2,005.76
$ 7,405.16
3,183
18,403
5,044
1,061
4,024
7,566
39,281
160
7 >141
J.38
75
322
442
2,278
179
1,291
162
80
392
514
2,518
$ 2,945.99
25,110.16
3,808.35
1,310.11
5,857.75
10,908.88
$49,941.24
4*090
4,962
1,782
1-246
12,080
314
429
33
27
803
340
476
33
27
876
$ 5,491.11
8,315.58
481.8C
515.52
$14,302.04
370,652
36,301
43,216
$794,543.74
4
4
-4
10
9
3
5
14
4
6
3
7
8
6
4
4
9
2
2
ly j
10f
338
237
117
113
217
153
1,175
$ 5,008.10
4,670.62
2,238« 69
2,117.33
4,432.66
3,062.62
$21,530.02
m
m
rn
TRKASUKT B f 4 fflMMf
Washington
Press Service
Ho«
FOR REL25A31, i H l NEWSPAPERS,
Tttesday. June 2, 1936«
Secretary of the treasury Iforgenthau announced last night that the
subscription books for the current offering of S**§/4 percent Treasury bonds
of 1951-54 and of 1-3/S percent treasury notes of Series B-1941 closed at
the close
of business Monday* June 1 * for the receipt of cash subscriptions«
Cash subscriptions for either issue placed in the mall before 12 o'clock
midnight, Monday, June 1, will be considered as having been entered before the
close of the subscription books«
The subscription books for both issues will close at the close of business
Wednesday, June 1, for the receipt of subscriptions in payment of which Treasury
Notes of Series 1-1935, maturing June 15, 1936, or Treasury Notes of Series A-19!
maturing August 1, 1936 are tendered*
Exchange subscriptions for either issue
if placed in the mail before 12 o'clock midnight Wednesday, June 3, will be
considered as having been entered before the close of the subscription books.
Announcement of the amount of cash subscriptions and the bases of allotment
will probably be made on Thu#aday, June 4
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, June 2, 1936._________
6/1/36
Press Service
No, 7-47
Secretary of the Treasury Morgenthau announced last night that the
subscription books for the current offering of 2-3/4 percent Treasury bonds
of 1951-54 and of 1-3/8 percent Treasury notes of Series B-1941 closed at
the close of business Monday, June 1, for the receipt of cash subscriptions*
Ca.sh subscriptions for either issue placed in the mail before 12 o ’clock
midnight, Monday, June 1, will be considered as having been entered before the
close of the subscription books.
The subscription books for both issues will close at the close of business
Wednesday, June 3, for the receipt of subscriptions in payment of which Treasury
Notes of Series E-1936, maturing June 15, 1936, or Treasury Notes of Series
A-1936, maturing August 1, 1936 are tendered.
Exchange subscriptions for either
issue if placed in the mail before 12 o’clock midnight Wednesday, June 3, will
be considered as having been entered before the close of the subscription books.
Announcement of the amount of cash subscriptions and the bases of allot
ment will probably be made on Thursday, June 4.
ooOoo
TRSASUHT DEPJgmmm
WASHINGTON
FOR RELEASE, MORNING NBISPAP1RS,
Press Service
W
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury bills, to be dated June 3, 1930, which were offered on
May 29, were opened at the Federal Reserve banks on June 1, 193d.
Tenders were invited for the two series to the aggregate amount of
#100 ,000,000, or thereabouts, and #281,375,000 was applied for, of which
#100,335,000 was accepted*
The details of the t w series are as follows:
195-DAY TREASURY BILLS* MATURING B S C nSMS 15* 1936
For this series, which was for #50,000,000, or thereabouts, the total amount
applied for was #146,415,000, of which #50,090,000 was accepted*
The accepted
bide ranged in price from 99*916, equivalent to a rate of about 0*155 percent per
annum, to 99*393, equivalent to a rate of about 0*193 percent per annum, on a
bank discount basis*
accepted*
Only part of the amount bid for at the latter price was
The average price of Treasury M i l s of this series to be issued is
99*9G0 and the average rate Is about 0*134 percent per annum on a bank discount
basis*
273»DAY T R m S O H T B U I S * MATO RIMS MARCH 5. 1937
For this series, which was for #50,000,000, or thereabouts, the total amount
applied for was #134,960,000, of which #50,295,000 was accepted*
The accepted
bids ranged in price from 99*364, equivalent to a rate of about 0*179 percent per
annua, to 99*827, equivalent to a rate of about 0*226 percent per annum, on a
bank discount basis*
The average price of Treasury bills of this series to be
issued is 99*335 and the average rate is about 0*213 percent per annum on a bank
discount basds
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, June 2 , 1936. ________
6-1-36.
Press Service
No. 7-48
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated June 3, 1936, which were offered on
May 29, were opened at the Federal Reserve hanks on June 1, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $281,375,000 was applied for, of which
$100,385,000 was accepted. The details of the two series are as follows:
195-DAY TREASURY BILLS, MATURING DECEMBER 15, 1936
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $146,415,000, of which $50,090,000 was accepted.
The accepted
bids ranged in price from 99.916, equivalent to a rate of about 0.155 percent per
annum, to 99.893, equivalent to a rate of about 0.198 percent per annum, on a
bank discount basis.
accepted.
Only part of the amount bid for at the latter price was
The average price of Treasury bills of this series to be issued is
99.900 and the average rate is about 0.184 percent per annum on a bank discount
basis.
273-DAY TREASURY BILLS, MATURING MARCH 3, 1937
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $134,960,000, of which $50,295,000 was accepted. The accepted
bids ranged in price from 99.864, equivalent to a, rate of about 0.179 percent per
annum, to 99.827, equivalent to a rate of about 0.228 percent per annum, on a
bank discount basis.
The average price of Treasury bills of this series to be
issued is 99.835 and the average rate is about 0.218 percent per annum on a bank
discount basis.
ooOoo
Rear Admiral Harry G. Hamlet, completing his
fouivyear term as Commandant, revert# to his permanent rank of
Aw
captain.
He is the senio^r
commissioned officer in the service.
Admiral Hamlet, the son of Captain Oscar
C. Hamlet of the foimer Revenue Cutter Service (now Coast Guard)
was horn at Hastport Maine, Aug. 27, 1874,
was appointed a cadet
on April 12, 1894 and was commissioned an ensign on April 27, 1896.
His first assignment was aboard the historic cutter BEAR, on the
relief expedition of 1897-98, participating in the rescue of
the crews of four whaling
vessels in the Arctic. In 1900 he was one of
the first Coast ^uard officers assigned to the Naval War College at
Newport, R. I.
During
Gold Life-Saving M^dal of honor,
c
.
and deceived a special commendation fro
the Secretary of the Navy, entitling him to a silver star upon his
service ribbon, as the result of the rescue of the crewr of two
officers and 45 men from the U. S. S. lames, which was sinking in a
heavy gale off the coast of France* He had previously organized
a n s t ix it ix
training and other activities at Naval Section Bases 6 and 9
in the United States.
Following the World War he superintended the reconditioning
and rsEEKoa
commissioning of 20 destroyers turned over to the Coast
Guard, and was placed in command of them in July, 1925. In 1926 he was
promoted to the rank of Captain and in Xsy 1928 was appointed Superinten
dent of the Coast Guard academy at New/ London, Conn.
H e was appointed
Commandant of the Coast Guard with the rank of Rear Admiral on June 14,
1932.
Commander Waesche s °oast
uard record credits him
with originating the
Coast ^uard
Institute, a correspondence school far warrant officers and enlist;
men; with instituting a reorganization plan of Coast Uuard field
forces, put into effect in 1951 and 1938; with sponsoring a plan fo|
selection of commissioned officers to improve efficiency and
stimulate endeavor; with initiating and piecing in operation/ the
present plan of compiling operation statistics,
he record f
|
ft
shows no xsejekex reprimand and no unsatisfactory marks throughout
his service carieer.
Included in the large number of
XfcXXEXkEEH
commendations shown upon his recdr^l are references to hix
numerous sea rescues while he was commanding officern of the
in the North Pacific,
cutter Snohomish,
his sssek work in reconditioning destroyers at
the Philadelphia "avy Yard, the success of Coast Uuard rifle teams
at Camp Berry and k ± x x x the activities of the Coast Uuard at
Philadelphia and Yorktown Sesquicentennial celebrations.
Commander Waesche is
married. His son, -^ussell R.
Waesche Jr*, is a member of the 1936 graduating class of
the United States Coast ^uard Academy at New London.
*■"1
1 k
•
i Russell R. Waesche, nominated today by the President
to succeed Rear Admiral Harry G. Hamlet as Commandant of the
Coast Guard, with the rank of Rear Admiral, was born on
January 6, 1886.
has spent 32 of his 50 years in the Coast
Guard, having been appointed as a cadet on May 19, 1904, end
having received
rsKsixlna; his original commission as an ensign Oct. 27, 1906.
He was promoted to Lieut (j.g) in 1907
S® Lieutenant
in 1917, to Lieutenant Commander in 1923 and to Commander in 1926.
HLs present assignment is Aide to Commandant.
His service has comprised nearly 18 years of sea duty
and more than 14 years of shore duty.
ihe sea duty included seven cruises into Alaskan waters,
four years in command of cutters on the Pacific and three years
in command of destroyers on anti-smuggling duty on the Atlantic.
Commander Waesche’s shore duty
included 12§ years at
Coast Guarct headquarters, pe has had considerably more
administrative duty at sisEstxjiHxri headquarters than snyisxt
any other officer of the Coast Uuard, having served under the last]
four Commandants.
As first head of the Qivision of Communications, 1916-1818,
he
reorganized, modernized and extended the coastal communicatioij
system of the Coast Guard.
As head of the Section of Ordnance he organized the
first Coast Gu a rd teams that competed in National Rifle and
Pistol Matches at Camp i errv, Ohio.
As Budget Officer he prepared and presented Coast Guard
A
estimates for the past four years.
TREASURY DEPARTMENT
B
Washington
FOR IMMEDIATE RELEASE,
Tuesday, June 2, 1936.
Press Service
No. 7-49
Commander Russell R. Waesche, nominated today by the President to succeed
Rear Admiral Harrjr G. Hamlet as Commandant of the Coast Guard, with the rank of
Rear Admiral, was born on January 6, 1886.
He has spent 32 of his 50 years in the
Coast Guard, having been appointed as a cadet on May 19, 1904, and having received
his original commission as an ensign October 27, 1906.
He was promoted to Lieutenant (junior grade) in 1907, to Lieutenant in 1917,
to Lieutenant Commander in 1923 and to Commander in 1926.
His present assignment
is Aide to Commandant.
His service has comprised nearly 18 years of sea duty and more than 14 years
of shore duty.
The sea duty included seven cruises into Alaskan waters, four years in com
mand of cutters on the Pacific and three years in command of destroyers on anti
smuggling duty on the Atlantic.
Commander Waesche*s shore duty included 1
years at Coast Guard headquarters.
He has had considerably more administrative duty at headquarters than any other
officer of the Coast Guard, having served under the last four Commandants.
As first head of the Division of Communications, 1916-1918, he reorganized,
modernized and extended the coastal communication system of the Coast Guard.
As head of the Section of Ordnance he organized the first Coast Guard teams
that competed in National Rifle and Pistol Matches at Camp Perry, Ohio.
As Budget Officer he has prepared and presented Coast Guard estimates for the
past four years.
Commander Waesche*s Coast Guard record credits him with originating the Coast
Guard Institute, a correspondence shcool for warrant officers and enlisted men;
with instituting a reorganization plan of Coast Guard field forces, put into effect
in 1931 and 1932; with sponsoring a plan for selection of commissioned officers to
improve efficiency and stimulate endeavor; with initiating and placing in operatior
**2-»
the present plan of compiling operation statistics*
The record shows no reprimand
and no unsatisfactory marks throughout his service career.
Included in the large
number of commendations shown upon his record are references to numerous sea
rescues while he was commanding officer of the cutter SNOHOMISH in the North
Pacific, his work in reconditioning destroyers at the Philadelphia Navy Yard, the
success of Coast Guard rifle teams at Camp Perry and the activities of the Coast
Guard at Philadelphia and Yorktown Sesauicentennial celebrations.
Commander Waesche is married.
His son, Russell R. Waesche, Jr., is a
member of the 1936 graduating class of the United States Coast Guard Academy
at New London.
Rear Admiral Harry G. Hamlet, completing his four-year term as Commandant,
will revert to his permanent rank of captain.
He is the senior commissioned
officer in the service.
Admiral Hamlet, the son of Captain Oscar C. Hamlet of the former Revenue
Cutter Service (now Coast Guard) was born at Eastport, Maine, August 27, 1874,
was appointed a cadet on April 12, 1894 and was commissioned an ensign on April 27,
1896.
His first assignment was aboard the historic cutter BEAR, on the relief
expedition of 1897-98, participating in the rescue of the crews of four whaling
vessels in the Arctic.
In 1900 he was one of the first Coast Guard officers
assigned to the Naval War College at Newport, Rhode Island.
During the World War,
while commanding officer of the USS MARIETTA, he was awarded the Congressional
Gold Life-Saving Medal of honor, and received a special commendation from the
Secretary of the Navy, entitling him to a silver star upon his service ribbon,
as the result of the rescue of the crew of two officers and 45 men from the USS
JAMES, which was sinking in a heavy gale off the coast of Prance.
He had previous
ly organized training and other activities at Naval Section Bases 6 and 9 in the
3 Cft
United States.
Following the World War he superintended the reconditioning and commissionin
of 20 destroyers turned over to the Coast Guard, and was placed in command of the
in July, 1925. In 1926 he was promoted to the rank .of Captain and in 1928 was
appointed Superintendent of the Coast Guard Academy at New London, Conn. He was
appointed Commandant of the Coast Guard with the rank of Rear Admiral on June 14,1932
TREASURY DEPARTMENT
1§fg|j
Washington
FOR IMMEDIATE RELEASE,
Tuesday, June 2, 1936.
Press Service
No. 7-49
Commander Russell R. Waesche, nominated today hy the President to succeed
Rear Admiral Harry G. Hamlet as Commandant of the Coast Guard, with the rank of
Rear Admiral, was horn on January 6, 1886.
He has spent 32 of his 50 years in the
Coast Guard, having been appointed as a cadet on May 19, 1904, and having received
his original commission as an ensign October 27, 1906.
He was promoted to Lieutenant (junior grade) in 1907, to Lieutenant in 1917,
to Lieutenant Commander in 1923 and to Commander in 1926.
His present assignment
is Aide to Commandant.
His service has comprised nearly 18 years of sea duty and more than 14 years
of shore duty.
Hie sea duty included seven cruises into Alaskan waters, four years in com
mand of cutters on the Pacific and three years in command of destroyers on anti
smuggling duty on the Atlantic.
Commander Waesche’s shore duty included 12-g- years at Coast Guard headquarters^
He has had considerably more administrative duty at headquarters than any other
officer of the Coast Guard, having served under the last four Commandants.
As first head of the Division of Communications, 1916-1918, he reorganized,
modernized and extended the coastal communication system of the Coast Guard.
As head of the Section of Ordnance he organized the first Coast Guard teams
that competed in National Rifle and Pistol Matches at Camp Perry, Ohio.
As Budget Officer he has prepared and presented Coast Guard estimates for the
past four years.
Commander Waesche’s Coast Guard record credits him with originating the Coast
Guard Institute, a correspondence shcool for warrant officers and enlisted men;
with instituting a reorganization plan of Coast Guard field forces, put into effect
in 1931 and 1932; with sponsoring a plan for selection of commissioned officers to
improve efficiency and stimulate endeavor; with initiating and placing in operatior
¿2present plan of compiling operation statistics.
The record shows no reprimand
and no unsatisfactory marks throughout his service career.
Included in the large
number of commendations shown upon his record are references to numerous sea
rescues while he was commanding officer of the cutter SNOHOMISH in the North
Pacific, his work in reconditioning destroyers at the Philadelphia Navy Yard, the
success of Coast Guard rifle teams at Camp Perry and the activities of the Coast
Guard at Philadelphia and Yorktown Sesquicentennial celebrations.
Commander Waesche is married.
His son, Russell
r
. Waesche, Jr., is a
member of the 1936 graduating class of the United States Coast Guard Academy
at New London.
Rear Admiral Harry G. Hamlet, completing his four-year term as Commandant,
will revert to his permanent rank of captain.
He is the senior commissioned
officer in the service.
Admiral Hamlet, the son of Captain Oscar C. Hamlet of the former Revenue
, Cutter Service (now Coast Guard) was born at Eastport, Maine, August 27, 1874,
was appointed a cadet on April 12, 1894 and was commissioned an ensign on April 27,
1896.
His first assignment was aboard the historic cutter BEAR, on the relief
expedition of 1897-98, participating in the rescue of the crews of four whaling
vessels in the Arctic.
In 1900 he was one of the first Coast Guard officers
assigned to the Naval War College at Newport, Rhode Island.
During the World War,
while commanding officer of the USS MARIETTA, he was awarded the Congressional
Gold Life-Saving Medal of honor, and received a special commendation from the
Secretary of the Navy, entitling him to a silver star upon his service ribbon,
as the result of the rescue of the crew of two officers and 45 men from the USS
JAMES, which was sinking in a heavy gale off the coast of Prance.
He had previous
ly organized training and other activities at Naval Section Bases 6 and 9 in the
United States.
Following the World War he superintended the reconditioning and commissioning
of 20 destroyers turned over to the Coast Guard, and was placed in command of them
in July, 1925. In 1926 he was promoted to the rank of Captain and in 1928 was
appointed Superintendent of the Coast Guard Academy at Ne7? London, Conn. He was
appointed Commandant of the Coast Guard with the rank of Rear Admiral on June 14,1932
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
_____________ MAY 1956_________________________
Date of
Failure:
Receiverships;
First National Bank, Lake Benton, Minn# 1/
First National Bank, Lindsay, Calif# 1/
First National Bank, Sisseton, S. D.
Farmers National Bank, Inwood, Iowa
First National Bank, Plymouth, 111#
10-25-33
11-2-33
10-1-31
12-20-30
11-20-30
Liberty Nat*l Bank, Pawhuska, Okla# \ J
Security National Bank, Cherokee, Iowa
American National Bank, Billings, Mont#
First Natfl Bk. & Tr.Co., Paris, 111# 1/
First National Bank of Mt.Sterling, 111. 1/
3-8-33
3-17-50
9-23-22
5-4-31
12-17-30
1st Nat*l Bk.of Fergus Co# in Lewistown, Mont.
First National Bank, Albion, 111# 1/
Albion Nat*l Bank, Albion, 111. 1/
First National Bank, Enterprise, Ala. 1/
First National Bank, Ludlow, Mo#
4-12-24
4-27-52
4-27-32
7-18-32
1-9-31
Total
Disbursements
including
Offsets Allowed:
$
6,908.00
33,796.00
137,409.00
174,655.00
108,932.00
Per Cent
Total.
Returns
to all
Creditors:
23.
33.7196
44.26
84.61
92.94
Per Cent
Dividends
Paid
Unsecured
Claimants*,:
13.291
33.7196
14.35
74.2
90.4
24,728.00
80,505.00
257,752.00
621,625.00
195,845.00
104.86
52.45
40.89
85.57
34.52
107.89
44.95
27.88
17.217
,9.8649
3,064,900.00
47,556.00
51,577.00
82,258.00
116,429.00
67.39
55.65
53.5
21.97
102.89
50.073
20.278
18.589
24.533
98.1
i/ Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation#
- 4 -
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $51*577.00, which rep
resented 33*3 per cent of total liabilities.
The First National Bank of Enterprise, Alabama, in receivership July 18,
1932, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $82,238.00, which repre
sented 21.97 per cent of total liabilities.
The First National Bank of Ludlow, Missouri, in receivership January 9* 1931j
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $116,4-29.00, which represented 102.89 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 98.1 per cent of their claims.
Dividend payments during May, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $4-,503,4-20.00.
Dividend payments to the creditors of all active receivership since the bank
ing holiday of March, 1933, aggregated $725,74-3,802.00.
- 3 -
The First National Bank and Trust Company of Paris, Illinois, in receiver
ship May 4, 1931, the liabilities of the institution having theretofore been as
sumed by another bank.
The receiver was appointed for the purpose of collecting
an assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated $621,625*001
which represented 85*37 per cent of total liabilities*
The First National Bank of Mount Sterling, Illinois, in receivership Decem
ber 17, 1930, the liabilities of the institution having theretofore been assumed
by another bank*
The receiver was appointed for the purpose of collecting an as
sessment against the stockholders to cover a deficiency in the assets sold.
Dis
bursements during receivership, including offsets allowed, aggregated $193,84-5*00,
which represented 34*52 per cent of total liabilities*
The First National Bank of Fergus County in Lewistown, Montana, in receiver
ship April 12, 1924; disbursements, including offsets allowed, to depositors and
other creditors aggregated $3,064,900.00, which represented 67*39 per cent of to
tal liabilities*
Unsecured depositors received dividends amounting to 50.073 per
cent of their claims*
The First National Bank of Albion, Illinois, in receivership April 27, 1932,
the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $47,556.00, which rep
resented 33*65 per cent of total liabilities*
The Albion National Bank of Albion, Illinois, in receivership April 27, 1932,
the liabilities of the institution having theretofore been assumed by another
Unsecured depositors received dividends amounting to 14*35 per cent of their
claims«
The Farmers National Bank of Inwood, Iowa, in receivership December 20,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $174-,655*00, which represented 84.61 per cent of total liabilities*
Unsecured depositors received dividends amounting to 74*2 per cent of their claims.
The First National Bank of Plymouth, Illinois, in receivership November 20,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $108,932.00, which represented 92.94 per cent of total liabilities.
Unsecured depositors received dividends amounting to 90.4 per cent of their claims.
The Liberty National Bank of Pawhuska, Oklahoma, in receivership March 8,
1933, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $24,728.00, which rep
resented 104.86 per cent of total liabilities.
The Security National Bank of Cherokee, Iowa, in receivership March 17, 1930$
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $80,505.00, which represented 52.45 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 44*95 per cent of their claims.
The American National Bank of Billings, Montana, in receivership September
23, 1922; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $257,752.00, which represented 40.89 per cent of total liabilities.
Unsecured depositors received dividends amounting to 27.88 per cent of their
claims
TREASURY DEPARTMENT
Washington
Press Service
FOR RELEASE, MORNING NEWSPAPERS,
William Prentiss, Jr,, Deputy Comptroller of the Currency, today announced
the completion of the liquidation of 15 receiverships during May, 1936, making
a total of 389 receiverships filially closed or restored to solvency since the
so-called banking holiday of March, 1933«
Total disbursements, including off
sets allowed, to depositors and other creditors of these 389 institutions, ex
clusive of the 4-2 receiverships restored to solvency, aggregated $109,151,082,
or an average return of 74-*34 per cent of total liabilities, while unsecured
depositors received dividends amounting to an average of 58,91 per cent of their
claims,
The First National Bank of Lake Benton, Minnesota, in receivership October
25, 1933, the liabilities of the institution having theretofore been assumed by
another bank.
The receiver was appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold.
Disburse
ments during receivership, including offsets allowed, aggregated $6,908.00, which
represented 23 per cent of total liabilities.
The First National Bank of Lindsay, California, in receivership November 2,
1933 , the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $33*796.00, which rep
resented 33*7196 per cent of total liabilities.
The First National Bank of Sisseton, South Dakota, in receivership October
1, 1931* disbursements, including offsets allowed, to depositors and other credi
tors aggregated $137,4-09.00, which represented 44-*26 per cent of total liabilities.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday. June 5, 1936.__________
6-3-36.
Press Service
No. 7-50
William Prentiss, Jr., Deputjr Comptroller of the Currency, today announced
the completion of the liquidation of 15 receiverships during May, 1936, making
a total of 389 receiverships finally closed or restored to solvency since the
so-called hanking holiday of March, 1933. Total disbursements, including off
sets allowed, to depositors and other creditors of these 389 institutions, ex
clusive of the 42 receiverships restored to solvency, aggregated $109,151,082,
or an average return of 74.34 per cent of total liabilites,.while unsecured
depositors received dividends amounting to an average of 58.91 per cent of their
claims.
The First National Bank of Lake Benton, Minnesota, in receivership October
25, 1933, the liabilities of the institution having theretofore been assumed by
another bank.
The receiver was appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold.. Disburse
ments during receivership, including offsets allowed, aggregated $6,908.<00, which
represented 23 per cent of total liabilities.
The First National Bank of Lindsay, California, in receivership November2,
1933, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
Disbursements
during receivership, including offsets allowed, aggregated $33,796.00, which rep
resented 33.7196 per cent of total liabilities.
The First National Bank of Sisseton, South Dakota, in receivership October
1, 1931; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $137,409.00, which represented 44.26 per cent of total liabilities
~2~
Unsecured depositors received dividends amounting to 14.35 per cent of their
claims.
'
f
The Far^ors" |fatiQ3ia3. Bank of Inwood, Iowa, in receivership December 20,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $174,655.00, which represented 84.61 per cent of total liabilities*
Unsecured depositors received dividends amounting to 74.2 per cent of their claims.
The First National Bank of Plymouth, Illinois, in receivership November 20,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $108,932*00, which represented 92.94 per cent of total liabilities.
Unsecured depositors received dividends amounting to 90.4 per cent of their claims.
The Liberty National Bank of Pawhuska, Oklahoma, in receivership March 8,
1933, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.. Disbursements
during receivership, including offsets allowed, aggregated $24,728.00, which rep
resented 104.86 per cent of total liabilities-*
The Security National Bank of Cherokee, Iowa, in receivership March 17, 1930'.;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $80,505.00, which represented 52.45 per cent of total liabilities.
Unse~.
cured depositors received dividends amounting to 44.95 per cent of their claims.
The American National Baric of Billings, Montana, in receivership September
23, 1922; disbursements, including offsets allowed, to depositors and other credi— .
tors aggregated $257,752.00, which represented 40*89 per cent of total liabilities*
Unsecured depositors received dividends amounting to 27.88 per cent of their
claims
-3The Fj_rst national Bank and Trust Company of Paris, Illinois, in receiver
ship May 4, 1931. the liabilities of the institution having theretofore been assum
ed by another bank.
The receiver was appointed for the purpose of collecting
an assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated
$621,625.00, which represented 85.37 per cent of total liabilities.
The First National Bank of Mount Sterling, Illinois, in receivership Decem
ber 17, 1930, the liabilities of the institution having theretofore been assumed
by another bank.
The receiver was appointed for the purpose of collecting an
assessment against the stockholders to cover a deficiency in the assets sold., .Dis
bursements during receivership, including offsets allowed, aggregated $193,845.00,
which represented 34.52 per cent of total liabilities.
The First National Bank of Fergus County in Lewistown, Montana, .in receiver
ship April 12, 1924; disbursements, including offsets allowed,.to depositors and
other creditors aggregated $3,064,900.00, which represented. 67.39 per cent of to
tal liabilities.
Unsecured depositors received dividends amounting to 50.073 per
cent of their claims,.
The First National Bank of Albion, Illinois, in receivership April 27, 1932;
the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.. Disbursements
during receivership, including offsets allowed, aggregated $47,556.00, which rep
resented 33.65 per cent of total liabilites»
The Albion National Bank of Albion, Illinois, in receivership April 27, 1932;
the liabilities of the institution having theretofore been assumed by another
~4~
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.. Disbursements
during receivership, including offsets allowed, aggregated $51,577.00, which rep
resented 33.3 per cent of total liabilities.
The First National Bank of Enterprise, Alabama, in receivership July 18,
1932, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.. Disbursements
during receivership, including offsets allowed, aggregated $82,238.00, which rep
resented 21.97 per cent of total liabilities.
The First National Bank of Ludlow, Missoud, in receivership January 9, 1931;
disbursements, including offsets allowed, to depositors and other creditor's
aggregated $116,429.00, which represented 102.89 per cent of total liabilities.
Unsecured depositors received dividends amounting to 98.1 per cent of their
claims.
Dividend payments during May, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $4,503,420.00.
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $725,743,802.00.
INSOLVENT NATIONAL B A m S LIQUIDATED AND FINALLY CLOSED
OH RESTORED TO SOLVENCY DURING THE MONTH OF
_____________________MAY 1936
Date of
Failure:
Rec eivership s:
First National Bank, Lake Benton, Minn. 1/
First National Bank, Lindsay, Calif« 1/
First National Bark, Sisse-ton, S. D.
Farmers National Bank, Inwood, Iowa
First National Bank, Plymouth, 111.
Liberty Nat*l Bank, Pawhuska, Okla. l/
Security National Bank, Cherokee, Iowa
American National Bank, Billings, Mont.
First Nat *1 Bk. & Tr. Co< , Paris, 111. 1/
First National Bank of Mt*Sterling, 111. 1/
First Nat*l 3k?of Fergps Co.in Lewiston,Mont.
First National Bank, Albion, 111. 1/
Albion Nat11 Bank, Albion, 111. i j
FirAt-National Bank, Enterprise, Ala. \ J
Firsts Nabiohal Bank, Ludlow, Mo.
1/
10-25-33
11-2-33
10- 1-31
12-20-30
11 - 20-30
3-8-33
3- 17-30
Total
Disbursements
including
Offsets Allowed:
$
6,908.00
33.796.00
i37,b09.oo
17b,655.00
108,932.00
2b,728.00
80,505.00
9-23-22
5-U-31
12- 17-30
. 257,752.00
621,625.00
193,8^-5.00
b< 12-sb
3 ,06b,900.00
U 7 ,556.00
U-27-32
U-27-32
7-18-32
1-9-31
51,577.00
82,238.00
116 ,^29.00
Per Cent
Total
Returns
to all
Creditors :
23*
33.7196
ii, 26
8b. 61
92.9b
10b.s6
52.b5
bo. 89
85.37
3b. 52
Per Cent
Dividends
Paid
Unsecured
Claimants:
13.291
33.7196
1^.35
7b. 2
90.b
107.89
uu .95
27.88
17.217
9.86b9
67.39
50.073
33.65
33.3
21.97
102.89
18.589
2^.533
20.278
98.1
Receiver appointed to levy and collect stock assessment covering def iciency
in value of assets sold, or to complete unfinished liqui dation.
‘'‘
j
IMPORTS OP DISTILLED LIQXJORS AMD WIRES AMD DUTIES COLLECTED THEREON
'
_______________________APRIL, 1936____________________________
'
i
__________
April
... , ?
DISTILLED LIQUORS (Proof Gallons)»
Stock in Customs Bonded Warehouses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
s
March
\
:
April
4,5*5*787
9 6 8 ,5 0 1
~
*4 Months (Jan# » April)
___ 1___ 1936.... ?.____ 133.5..
3*753**53
»32*534
♦
\
*
1936
:
irts
3 ,8 4 7 ,7 0 0
3,719*247
4,233,874
529*324
4,777**24
1,012,154
571*989
4,291,216
3*591*933
7 ,8 2 5 ,8 0 7
56 0 ,6 4 9
4,178,5*7
4,282,960
1,702,264
5*985,224
2,188,357
--- P W* y-WJJ
Stock in Customs Bonded Ware
houses at end
STILL WIRES (Liquid Gallons)!
St 00k in Customs Bonded Ware*
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware»
houses at end
SPARKLING WIRES (Liquid Gallons)
Stock in Customs Bonded Ware
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
E x p o r t e d f r o m Customs C u s t o d y —
Stoek in Customs Bonded Ware
houses at end
DUTIES COLLECTED CM Distilled Liquors
Still Wines
Sparkling Wines
Total Duties Collected on Liquors
Total D u t i M Collected on Other
Commodities
Total Buttes Collected
Per Cent collected on Liquors
5 ,60 8 ,20 0
3*753*253
3,669,128
3,608,200
3 ,669,128
1,615,817
1 *6 3 4 ,3 4 3
1 ,6 5 1 ,29 ©
1 5 2 ,6 8 6
1,803,978
180,392
2,455,303
802,150
2 ,376,019
200,084
189,822
1,824,165
204,643
1,608,118
847,185
1 ,766,588
2 3 0 ,8 5 4
1 ,6 5 9 ,0 1 9
1,615,817
1 ,6 2 2 ,6 2 6
1,839*019
1 ,622,626
2 3 5 ,0 4 6
2 2 4 ,6 1 3
2 0 ,6 2 5
3 1 3 *« 8
233,029
61,116
325*711
1 ,8 4 6 ,6 5 1
14,7*3
2 4 7 ,8 2 9
15*16 4
4,530
327*946
2 4 5 ,2 3 8
1 1 ,7 3 2
12*113
- t#7 57 -
---- - '
609,431
739*116
43,291
369,003
294,145
61,001
58,236
- 8,691-,
302,076
2 3 1 ,3 0 0
2 3 3 ,0 4 6
$ 2 ,4 9 5 ,1 1 6
$ 2 ,5 9 8 ,8 3 4
2 4 9 ,5 0 9
2 5 4 ,9 2 8
88,992
68,112
$ 2,833,617
$ 3*032,387 1 12,170,417 $ 1 1 ,838,492
2 ,, 352/035
$ 2,921,874
j
32,415,182
$32,225,652
/ 8.8$
*35*341^58
9*3*
$3l*453f*4Q8 5134,251,332 $1 1 5,0/ 7 *I44
y 10.3*
/ 9*8?6
/ 9*158
/
3 0 2 ,076
2 3 1 ,3 0 0
$ 2 ,7 3 8 ,2 7 9 3 1 0 ,8 1 3 ,3 5 8 $ 10,574*449
921,0 11
1 ,000,029
224,922
71,166 ___ 357,030 _____343,032
/
28,421/041
:1 2 2 ,0 8 / ,9 1 5
103.228,652
(a) Including withdrawals for ship supplies and diplomatie use#
(Prepared by the Division of Statistics and Researoh, Bureau of Customs)
__—-*_,iiiiii*wnm^:-»^^f^*****aall*,**^***,
Friday morning release
The following statistics dealing with
imports of distilled liquors end wines for the month of
April, 1936, were me.de public today by the Bureau of Customs
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Eridav. June 5, 1936«___________
6-3-36.
Press Service
No. 7-51
The following statistics dealing with imports of distilled liquors
and wines for the month of April, 1936, were made public today "by the
Bureau of Customs:
:
J
April
1936
J March
: 1936
5
:
April
1935
:
:
4 Months(Jan«-April)
1936
1935
distilled l i q u o r s
(Proof Gallons):
Stock in Customs
Bonded Warehouses
at beginning«•• •
Total Imports (Eree
and dutiable)««..
Available for Consumption«••......
Entered into Consumption (a)«««..
Stock in. Customs
Bonded Warehouses
at end«..«.....«
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning««..
Total Imports (Eree
and dutiable)••••
Available for Consumption«••«•••••
Entered into Con
sumption (a) • ••. •
Stock in Customs
Bonded Warehouses
at end«••*«•••«.
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning«•••
Total Imports (Eree
and dutiable) •*•.
Available for Consumption« •«••••••
Entered into Consumption (a)...««
Stock in Customs
Bonded Warehouses
at end«••••••••«
DUTIES COLLECTED ON
Distilled Liquors $
Still Wines
Sparkling Wines
Total Duties Collect
$
ed on Liquors
(a)
3,753,253
3,847,700
3,719,247
4,233,874
4,282,960
832,534
929,924
571,969
3,591,933
1,702,264
4,585,787
4,777,624
4,291,216
7,825,807
5,985,224
968,301
1,012,154
560,649
4,178,587
2,188,357
3,608,200
3,753,253
3,669,128
3,608,200
3,669,128
1,615,817
1,634,343
1,651,290
1,608,118
1,766,588
230,834
189,822
152,686
847,185
609,431
1,846,651
1,824,165
1,803,976
2,455,303
2,376,019
200,084
204,643
180,392
802,150
739,116
1,639,019
1,615,817
1,622,626
1,639,019
1,622,626
233,046
224,613
313,416
233,029
325,712
14,783
20,625
4,530
61,116
43,291
247,829
245,238
317,946
294,145
369,003
15,164
11,732
12,113
61,001
58,236
231,300
233,046
302,076
231,300
302,076
2,495,116
249,509
88,992
$ 2,598,834
254,928
68,112
$ 2,736,279
224,922
71,166
$ 10,813,358 $10,574,449
921,011
1,000,029
343,032
357,030
2,833,617
$ 2,921,874
$ 3,032,367
$ 12,170,417 $11,838,492
Including withdrawals for ship supplies and diplomatic use.
00O 00
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Æ |
foreign exchange or free marks*
Upon completion of the s&le, the American importer will purchase
1000 narks from the above-mentioned exporter of the American cotton at
the prevailing price of 24 cants par marks, or #240*
Ha purchase« an
additional 200 free marks at 40 cant« per mark, or #80, «0 the total coat
of his German currency is $$£0*
The 200 free marks and ownership of the
1000 ASX! marks are than transferred to the German exporter in payment
for the gloves| which ara shipped to the United States*
The German exchange
control authorities release to the German exporter the 1000 marks from the
•blocked* ASS! account,, add them to the 200 fra© marks, and the German
exporter then has 1200 marks which ara no longer subject to the restric
tions of the exchange control authorities and all have an equal value
measured in American currency by the current rate of exchange for the
free mark, 40 cents«
This cnaplitated> procedure, whereby the f$2G paid by the American
importer has been converted into |4i0 worth of German free marks, results
in a subsidy bestowed upon the German exporter by the acts of the German
Government through its currency manipulations*
The amount of the subsidy
Is sfemfemmmay $160, the cost of which falls, not upon the German
but upon the American exporter of cotton, who realises less for his
cotton, or upon the German import r of the cotton, who pays more for the
cotton if the American exporter knows before entering into the trans
action that the proceeds of his sal© will be »blocked* and worth con
siderably lass than the current rate of exchange for the free marks*
A German importer of American cotton Applies to the German Import
Control Bo rd for permission to import Into Qorawy a shipment of American
cotton at c purchase price of 1000 marks*
A permit to Import the cotton
is Issued with tho condition that the purchase pries must ho paid to *
designated Gorman bank*
that bank, upon receipt of the 1000 marks, opens
a so-called A M I account,, which is the property of the American cotton
exporter.
The owner of the account may dispose of his interest in it to
aiyoaa who will buy it, but the m&rk® in the account can be used only with
the permission of the German exchange control authorities for particular
purposes, the principal one of which is the purchase of German goods for
export *
Because of the restrictions imposed by the Genmm Government on the
use of the marks la the •blocked* or
A M I account, their owner,
if unable to u&e them himself, may dispose of them only at a price sub
stantially lower than the current ruto of exchange for the free mark*
A German exporter of fabric gloves no» appears who desires to export
hi® product to the United States*
The wholesale price in Germany for the
gloves he sells would be IfcOO marks*
If these goods were sold to the
United State© for 1*^00 free marks, the American importer would pay approxi
mately 1480*
The German exporter learns, however,.that he m n not sell to
the United States at a price higher than the equivalent of |5£0*
time the A M I marks are selling in the United States at M
as compared with 40 cents each for the free mark*
At this
cents per mark,
The German exporter,
therefore, applies to the German exchange control authorities for a permit
to accept 1© payment for the gloves he desires to sell to the United
State* 5/6 of the invoice price Is A M I marks, the balance to be paid is
$he»
1
appliestotheQmmm exohang©oonfcrol«ufckorl~
ties fer «
ld# Atte*oueacKBlnatian of thefhets,thèse authoritios
au&horise t
hopurebaee ofG e r m a dollarbond«ImM abroadoiths<»of
thodollar»v
t
e
i
a
î
*willb®roooivodfort
i
n
sgooda#
The tablomra is shipped to tho thîted States and the il0#GÛ0
paid in A m r i c a n dollar© is recelved undor the ccntrol of tho Gomaa
exeiiM Q Q contrai *uthe*itte*«
An agent authort sed by the
Sewirnn®^ to haxaUe snob transactions thon uses
sobo a?
tk m a m
the
dollars
to purohaee Geœan bonds in the ibaeriesn marlcst^ £ir*co the American
m m r of tho bonds is \ m b l a to
ofcfcaà» mreatricted payants of the
principal and interest# baeeuse of régulations of tho Geisasss Oorermont,
tho bonds sali in the United States &t a substimti&l discount# and the
agent is abio te buy# aay six #1#000 bonds for $3*000 in Aaerica» sur»
roacy*
ThebondsaresenttoOermany#wlierotheyareeaehedbytheberd
êabtorfortheéquivalaitinfrocmarksoftho'irfacevalue(approxi*"
mtoly15,000metfee}« TheGommaBœifacturorthonreeelvosihrough
theexataeng*centre1anthorltiosthoéquivalentinfreomarksofthe
#7,000 net usad in the bond procedure (approximetely 17'#500 marks)
andthe15#000sériesobtained throughthebondprocedure#oratotalof
52,500 m
arks,fcaviag a valu© in Aiaarieaa dollar®at thejnuofiMet rate
7
,T
a
c
t
of échange of :
|15#000#
El s subsidy in the transaction is.
m im
uncertain wtlebbor h© eier will realize f t « the indefinit© promts© of
retention, V
I© willing to sell the serif at a largo discount, a s j d ^
A jlrtr^ ^
' h'
L&
it io purchased by th© Geld Discount St^c at^Böv* of its faoe nds&«. or
$1TS# the transaction i s bandied through «a ibsorlcam cey rospendest hank,
which ro eeiw s tvm the Gold Discount Basic th© sum of fl7b# f l m a handling
charge o f, say $5, and turns over the f l ? l to *A**
who has received an
is a k?naaa exporter of aetSWg1
/^ro
**
offer of |©d0 in foreign «xehaug© Äl^fw« sawks **«* *& Araoxloan importer
£ 06 X>b ?w*uM
A
for a shipment of snoli ocrohandi so *
However# it will cost
manufacture the tatiss end pack them for Shipment to the Dnitod States# n®
m k e e application to the prefer O o r m n exchange control authorities, who
author!zo hin to buy fron the Gold Discount Bank the scrip sold to said
bank by "A",
*BW is pc mit tod to ©urohase this scrip for the equivalent
cvaa
,5 ->****idi
infreemarksofI , Bs then presents the scrip to the Koavorsionskasse
5
*
ror
reaeeapoioB
ec
©em
er
f
ors
wdan$tieaasw
atmfa
ine#o
r? w < Jis scrip subsidy, the refore, is
VA2# & & **« ■ **
^ l & S o y ^ o ^ k A
«£p*whioh# added to tmW&tfr reoeivod for his goods, enables him to close
the transaction w it h o u t losing money#
A German &amf*ebuP!r of china tableware
receives an offer of
110,000 t r m m American importer for a shipment of hie merohandieo*
If
ho accepts the erder and ships the goods without aid from any of the dofioot
arranged by % © German Government, ho sill bo required to d ©posit the dollars
in a foreign ©nohai^e aoeouni under the control of the Gorman Ooremmeatf
ft:
sy? lie will, receive the e^zitalont of the dollars in fro© marks# approxi*'*
stately 83,000 mrks#
Howrror, it costs 32,500 masks in Germany to aake a m
peek the MpotaSfc* and tbn mnufacturcr is accordingly unable to accept the
"^ t 000*
order ualoes he can obtain seae aid or subsidy.
T m G-ommn «aporfcor h m ttm» r&miveà tho full priée fof hia produet.
vàiioh
1«m&Ê# u-p inpsrtbyUm actuelcoette
th
#iâ m r/Î 0m •.b
ayerm â in
. •
't;!*.
/
V*rt -y » oon«*83ion or »ub«My c m A o d through acfcs of the flomia «ororo.
imnt0 trda ommmim, or subsidy h&viag b œ B eslàul&ted
il|
allbætd by the _
WW1
.—\ .
GemougovcnsaontI»tbo'
»
üitw«aouataesteseryt
Ojpermithimtorafethe
sale
fraaseotions of tlâ a eh&ractor, wiwre th© ©g^porbed goods &r@ duüahle
within th© trarvtow of tii© Xa«r recrut riss th© enpliaàtlon of additions!
the aurreney manipulation mthod* and tfc© bond: «ad scrip metbod® of
prometing G#îmn exporta exe ï m M te b© dorioes by vhlch f&vorod Gemaa
«portera of priviiegod Gonaaa goods are giron eubstantial fina&cial aid,
this aid boing flnsæed %
capital and tricorne levio s */■oalleçted frca forolgn
crédit ore of Q ç m m debtoro* and to &om ©xt©at î r m 0emsn importera* by
tho G © m m * gov^rmsnt «ad paid evcr by tbat gofemiout to the favored
Germa» exporter® sritbeut transmission of tbe fttodt through tho d a m a n
fswftsury*
ï
teefollesringillustrationsexhlbitthomethodsofopérationofMien#
differentfermeofproeaâursinsubeidisingGeman©sportsindirectlyi
fhesorip¿roeoduret
•jt* is tho OBE&er of ton $1#ÛÛ0 bonds o.f a Go m a » iaunioipality pay*
i$g
iniorest and K&turing in I960*
Sacb year the rauniciesl debter
ê$JBL
pays to tho IQsa^rsioakfcss© f m
ms4cs «
m m m X internat on thss© 10 bonds*
, ,.
,
% * reçoives fron the ¿Conversions-
tmm m l m of $960 but- havlng no défiai to date for rodasptioa.
Seing
representing fond« paid by German importers into blocked or »froze»»
account« to the credit of the foreign shitners*
A S O mark account« rapre-
sent the proceed« from the sale of essential goods, e£- 'wliicirr’w f
■w
A
Barter
accounts aria« from the sale to Gerrnany of noj**e«sentlftl goods*
Beeause of the restrictions Imposedjby the German Government on the
use of any of these controlled or blocked account« by Jtoerlcan exporter® or
others to whose credit they stand* the funds in them may be ourehasOeat tub*
0*u£
etanti el discounts* &ie principal use of these registered mark, ASRt and
A
barter accounts 1« in payment for goods exported from Germany.
When a German
exporter finds that he cannot meet competition in a foreign market under
existing currency exchange condit ions^he may apply to the exchange control
authorities for permission to accept payment for particular export shipments
of his goods in «hole or in part in controlled marks.
If the exchange control
authorities deem the particular export transaction to be In accord with the
current exchange policy of the German Government, the requested permission
is granted*
She effect of this procedure in transactions in which American merchants
are involved is that the American seller of goods to Germany has been required
1
<3f fU*
£4
tk T k M & d ,
to accept less than the ».eminal! f?*r*WW of
merchandise, while the American
v* his
***» *w»wt*«rni**|^
iQ j d U i M j t t M .
?rra*l^s<
.11#
buyer of desman goods has obtained them at a price less than their normal
inlleimsny§ the reduction being measured by the discount he has obtained on the
/controlled or blocked marks he has been permitted to acquire to make payment in
Germany..
flne marks, received la
A
the German exporter)are freed
ffosa control and have the tame value as all other marks in Germany,
b y f e o 0« h u a O a r o r a a a a t l o t r a n s a s ! s a c h b u s l u s a s *
r o d o m p tlo n a r a p a t d l o
and fe o p rooood s o f
-
f e o o a p a r t o r l a m arica a n fe@ b a s t a o f « p p r a x fa m t o ijy
andc a o - h a d f m arica f i r d o l l a r o f f e o f e o s r a l i * mt I b a b a n d a « f h o b a n d a
arap a m i t t o d l a b o p tir o h a a o d e & l y f e f e a ©mount d a ta rta I n a d b y f e o o x f e s n g o
to o
c o n tro l s & fe a r ttlo s
09
la bo n o co ssery
in c u r r a d i n t s # © sp o rt sa to #
te a f í n a i I h o t o s a w h le h a o n ld © th o r w ls o
m & Ib a p ro co d u ro l a p o s ta llfe d
oniy I f feo
© jc p o r t a U o a o f f e o p a r t t o u l a r g a o d * i n r o l y o d l a éosm od b y f e o «accbim^a c e a t r o l
authorltlos l o b » d o s i r b b l o «
bom dofemlaodfea!panalsalen la Iba espartarla *ra&XMmsalf
of«ifeoroffeos©prosodwosIncom«etionoUhfeo««portallanofduitabla
II h m
gaoda
fe feo U n i t e d S1«tas constituías feo b a s t o r a l o
í ' m m % &
ar ¿rea! la wM c h fe« oemmtorrmlliisg da^r atatal© appllos«
m ñ .»Htout I p M
fb o f e ir d
d is ta ® d w » a a a s p a r l a l a
m a n ip u la ! io n *
I
m o fe a d o f p r a e o d a r e © a p la y a d l n s u f c s t *
fe o O a lto d S i e t e s l a
< t ll S o a s a n m arica
mm
A
o í
s e e a r p X ia h a d f e r o a #
eu rra n ey
m e a la o s « b o r la ® a a o r m e l ©xchaag©
r a im o l a J b a o rlc e n c u r r o n c y a l f e o p r o s s n t lim o o f s p a r a x l a a l o X y 4 0 c a n ta «
a
f I?
Sooorsr* larga mama in momo aro nold in contrallad or nir®zm* accouat® felch
b o o r á i í f o r m t nsm os« in c o r d ia ® f e
fe o a r ig in o f
in fea n a t a c r o d l l s o f f e r o t g a o r s w b ld b om o a l y
e o n d lllo a s « n o ta b ly f e r
fe» fu n d a *
íh s y c o n s titu í#
hm llq f o t d s t o d n a d a r s p o c i a l
fea purckes© o f $ « » « & g e o d a f a r a s p a n *
fe a r a p r o a o a ta tir # c o n tr a lla d
s c c o u a t s ©r» f e o s # f e i f e a r a c a l l a d
Bm m o f
'la
XngXlah) #ald baldía® aoccnttfeS "socurit^ mark eccounis«* *»at© maric
o e ccu n ts*«
* € r© d tt
a*ric a c o o u ftts * «
maric accou n t t %
Sfeor©
*ro®Íst©r©d marte a e c o o n l s * and " c o á r o r s l o f t
aro s i s o f e o «OHsaXXod
*b m % o r*
an d
*AStCI# mete a c c o n a t a
V
-3*
doli Biseouat 3aok| m
#«#
of th» Q * m m Oovemient, p e s i l i Ih# scrip for
leso th«i 1%« face m t m because flit f w « l p ©mera usually p m P ir le
rsaliise peri of thè sminai vaiti# hgr selline Ih# oerip rathor thsn taSse Ih# rUk
©f Rèttimi aere ©r lese mi • » uacertain fatar#
Scrlp la uilUsfd In «rtesrl trsosaotion* 1# Ih# United State» in thi« wayt
«ad«- .^oi«X V » M *
V
»««*» • » * • « • « " * " *
exporters ah# would otherwise he mah!# te «eli their feed« In the United State«
exempt et e le»« m&f he allowed te uee pert of the proceed« from a particular
export transaction to purchase torlo ftw» the (told Meeetsst | M s et « discount
tm^kma op to s u b t l y lee» than SO per cent«
The «©rip a«y then he
presented to the XdiwerelenkMee, «here it will he redeemed tmedlmtely et iti
full fece value* JBs# perni to for this procedure «re granted only if the
p ù d ^yU L^t
exportation of~tfee^*o©ds is^destrahle fro» the point of view of the «uned.
policy of the doma» ©overmen!.
the asouat of scrip allowed to
and redeemed in connection with ©se export transactIon is m m W % é W the loss
'ite-.'
in the export sale dhlcth the precedwe is intended to offset*
In the hood procedure a Sere©! exporter who can satisfy the demon
¿.'fas.—p*- >
excha»$e control authorities that he would otherwise sustain a lots in
e particular export sale is granted special permission to hare part of the
foreign exchange proceed* of the ««le used for the purchase in the United.
States of deman dollar bonds at the prevailing martest price.
These hands
sell at substantial discounts because of the’disabilities of their owners
a
with respect to their sale or redemption In ©emiaay*
^
But when «ofulred for
the account of a deman exporter* the hoods are redeemed at par hr the bond
debtor from slsklng or amortisation funds.
The ©stiro transaction of bond
lurches« and redemption is handled by a b©ak or other agency author! ted
» k a lm t $ * m m
m sm m p
$04 ©spovt ceaiÉtJ
p ellcl
and
easg
#gf Castota han
i
j
é
t o n t e a ti«& thstsMMIv
j BMLd#
d»t»f»it»*mtt#
2/f<¿ H
■ U U i m i l í S ¡¡É¡¡ rfwt
j
m
,
«adurcistlv# la
M fp iN
Ñ*>c*
Saetlen 303 e£ th#
r l£ f ASt of 1930ét* w «
L_ . !,
Tm
lltt fsrr th'«w
• W W W / #v# M | ® € probidad
Hl Wtípmntw. et dlr#eteaahto m tl# « % 9*mm tadssirtslmmvá.^ímm
|f|
Serlp isad hond fs»#e«te##|
(3)
t o t o t o m m ip Q X m % iím *
it Mm basa é* tmmim&
«h al, id w av ar e*«h to & tie a ara p á á te «ubsidit#
i t t U á l « asporta te tha United 6 te te * «d i (tf angr fus&a ereated f e * U*»t par*
pese* «ha previa! en» e£ $m%im 303 ©£ fita t« rl tt M t mm todJP*
Mora S xm rtaat with rasp ee! I© «sp ort« te th» Uhltad a tu te s la p ra e tle i
4«/w¡pt i n m A ¿w^sL
sr# t&.-^ cu rsin iy r asv&p m ||p|p| .«»thods e£
aap ort «absldlae*
9h*
«crlp Md tod praeadnraa «va a# falla*##
$&#av#*l
má p rlaelp cd
pagM&t# «a « a r te l» £©x^i^toime& 3©m a» «acurU ia»
« rs re m ira d te he paid le f# U I r ®
(Es^rersteifea® »«)*
to & m delito*« te a e e a v a rtie » huaSte
Shla to le p*@r» te to i owoer #£ ito
# f *&•
üaem t da# lüm ^ L a_# «ñ to^ and th# rataaialag t o f l a apealad d d to t o e s * e«ll«d
• a c r ip * *
fh ia aevip i# th eo v etio ally v e é tto fc le a t it# fe«# v al*» a* #co# ^
tim e, tort th# date sed p r o to iH ty « f u ltím ate y#d#sptl<«a «
m aeertaia*
fh#
^emmorandum as to Treasury decision 48360«
Treasury decision 48360, approved June 4, 1936, relates to the
imposition of countervailing duties
or
under Section 303 of the Tariff
Act of 1930 on certain dutiable imports from Germany into the United
States# These countervailing duties will be imposed to offset export
subsidies which are being provided through three methods:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday. June 4. 1936,
6-3-36.
Press Service
No. 7-52
A Treasury Decision was approved today which states that countervailing duties
will he imposed on certain imports from Germany. ■The additional duties, imposed hy
Section 303 of the Tariff Act of 1930, will become effective as to these commodities
following the expiration of thirty days after the publication of the Decision in the
printed Treasury Decisions.
It is expected to appear in the issue of Treasury Deci
sions of Thursday, June 11, 1936, and will be supplemented from time to time to
change rates or to add new commodities to the list as further information may require
Approval of the Treasury Decision followed receipt of an opinion by the Attorney
General that the provisions of Section 303 of the Tariff Act'are applicable to
certain dutiable imports from Germany in view of the state of facts found by the
Treasury Department.
As provided by Section 303, the amount of the countervailing duties to be
imposed on the imported articles listed in the Decision will be the amount by which
it is determined or estimated that the export of these articles is being subsidized
through certain export control practices of the German Government.
Pending deter
mination of the exact amount of countervailing duty to be collected as to each
particular shipment, deposits will be required at the time of entry at the percent-«*
age of the invoice value set forth in the Decision.
A copy of the Treasury Decision is annexed*
(T.D. 48360)
COUNTERVAILING DUTY ON CERTAIN GERMAN PRODUCTS
Collectors of customs instructed to suspend liquidation of entries dovering
certain merchandise imported directly or indirectly from Germany after thirty days
after publication of this notice, pending declaration of the net amount, of bounty
and/or grant paid and/or bestowed on the.merchandise and the amount of counter
vailing duty to be collected under section 303, Tariff Act of 1930. Deposit of
estimated countervailing duties required.
TREASURY DEPARTMENT
OFFICE. OF TEE COMMISSIONER OF CUSTOMS
WASHINGTON, D.C.
TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNED:
Official reports and other data in the files of the Department establish to
its satisfaction that bounties and/or grants are paid and/or bestowed, directly
or indirectly, on the export to the United States of articles of the kinds named
below, which are dutiable under the provisions of the Tariff Act of 1930.
Notice is hereby given that, pursuant to the provisions of Section 303 of the
Tariff Act of 1930, countervailing duties equal to any bounty and/or grant found
to have been paid and/or bestowed will be collected on articles of the kinds named
below when imported directly or indirectly from Germany after 30 days after publi
cation of this notice in a weekly issue of the Treasury Decisions.
The
liquidation of all entries covering merchandise of the kinds named below
imported directly or indirectly from Germany after 30 days after the publication of
this notice in the weekly Treasury Decisions, shall be suspended pending the
declaration of the net. total amount of the bounty and/or grant determined or
estimated to have been paid and/or bestowed, and the net amount of countervailing
duties to be collected.
A deposit of estimated countervailing duties shall be
required at the time of entry in an amount equal to the percentage of invoice
value stated below in connection with the name of the article
The articles subject to this notice are as follows*
Percentage of invoice value
Article
45$
Cameras
China tableware
Cotton and rayon gloves
Leather gloves
Surgical instruments
Calf and kid leather
Glass tree ornaments
Metal-covered paper
Thumb tacks
Toys, dolls, and toy figures
22è$
39$
47$
56$
25$
52$
31$
45$
The facts in regard to each importation within the purview,of this notice
shall be reported promptly and in full to the Bureau of Customs.
JAMES H. MOYLE
Commissioner of Customs.
APPROVED:
June 4, 1936: •
HENRY MORGENTHAU, JR.
Secretary of the Treasury.
I
fitting watchword for a service such as this could have been
chosen to symbolize its duties and responsibilities*
Semper Paratus*
duty*
Always ready*
Always ready at the call of!
Always ready to do the task that duty calls*
to forget self to save others*
Coaôt Guard*
Always ready
These are the high traditions of1
Today those traditions are placed in your keeping*
Hold them high*
16
Such is the state of the nation*
This happy country, you
serve*
m
fortunate young men of the class of 19156 go forth from these halls
Ho air of gloom and no grim foreboding casts a pall over
the young men who commence their careers in the world and leave
their academic eode s behind them in this coniiencement year*
You
may well rejoice with your fellow^graduates of our colleges and
universities that this encouraging prospect opens before you as
it does for them*
True, it may have a more eager and hearty
welcome from them because they have yet to find a place for themselj
in the world which they are about to enter, whereas with you your
place is secure, because you found it when you first entered these I
walls and continued on to this your graduation day.
Nevertheless
it is cause for joy to you also, because as patriotic Americans
you want to see your country at all times happy and prosperous,
and her people enjoying the blessings of peace and ordered liberty*
I verily believe that is the condition of our country at this
hour*
Your country is very dear to you, I am sure, or you would
not have chosen the Coast Guard for a career*
And so in closing
these altogether too lengthy remarks, I wish to compliment you
on the choice that you have made, and congratulate you on the
success you have thus far achieved*
My earnest wish for you is
that you will retain throughout a long life a just pride in
serving your country; that you will emulate the deeds of heroism
and high courage of those officers of the Guard who have preceded
you; and that you will keep ever in mind the sublime motto of the
Coast Guard, ^Semper Paratusn and all that it means*
• 15 -
No more
should seek after perfection, but they aje doomed never to attain |
it*
It is agreed that our government is as close an approximatioj
to this happy state as any other,and closer than most, and therefor I
we are actuated by every motive of self-interest to safeguard and
cherish it*
]
-*
Throughout our history as a nation, our people have shown a
profound appreciation of the blessings which they enjoy and a firm
determination to preserve them from the attacks of enemies, foreign
and domestic*
Their vigilance and their intelligent civic interest
have averted such danger in the past and we have every reason to
believe that they will do so now and in the future*
of that kind threatens us today*
But no danger
Despite the travail and the
suffering through which we have come in recent years, our country
remains the happiest and most prosperous in the world*
We are
facing’ the future with that oldtime confidence that made us the
great nation we are today*
In the face of trials and difficulties
that tried the hearts of the strongest among us, we adhered to our
system of government and kept our faith in democracy*
Spurning all
the new »isms* with their dictatorships and relying only, as we had I
done in every other great crisis,on our Americanism, we fought our
way unaided and alone, triumphing over one obstacle after another,
until now we are coming through to victory*
America is out in, front again leading the nations on the way
to prosperity.
Our trade is increasing steadily, our
currency is j
safest and most stable medium in the money markets of the world,
our millions of unemployed
are returning to work,and domestic
business is everywhere improving*
government as the Federalists were administering it, was the issue,
and not whether it was right*
Otherwise they were one in their
loyalty and attachment to the fundamental principles of the
government, however much they might differ over questions of policy
in the administration of the government#
Patriotic Americans, following the wisdom of Jefferson,
look upon our electoral contests today in the same tolerant spirit, |
and face with equanimity the success of either party*
They know,
notwithstanding partisan oratory to the contrary,, that on the issue
of the contest depends neither libertynor democracy*
At best the
election is but a choice of men and policies for the administration
of the government under our federal system, and not a choice of
continuing that system or adopting a different one*
I do not say
that such a change cannot happeu here, but I do say that it will
not and cannot occur as the result of an ordinary election*
With all its defects, we enjoy the best format government in
the world*
Under it justice is established, domestic order is
preserved, national security is provided, the happiness of our peopli
is promoted and with it all we are assured the inestimable blessing
of liberty*
Hone of; these, it is admitted, do we enjoy in their
perfection, but where and when in the long record of time, under
any government, have the people ever enjoyed them in perfection?
The answer is never*
Philosophers have dreamed of such a perfect
state, but the visions of Plato and More have never had reality in
this world, and"’it is safe to. say that just so long as human nature
remains what
it is, they never shall*
13 -
Nations and men may and
occur to you of like import*
they remind us that few policies of
government are ever quite so terrible or so foolish as their
opponents would have the people believe*
people cannot be so easily deceived*
Fortunately the American
< They have had a long
apprenticeship in such matters and know fairly well how to
distinguish between spurious and genuine criticism*
The dominance
of either of the great political parties, they well know, will not
adversely affect the fundamental fabric of their government as a
representative democracy, and they are, therefore, not easily
■-v"
v
, ■' - j
’r■ <*'
’'/iV*
■
. i ' •• • -aSSf
frightened into a state of fear that the policies of either are
intended to or will result in the overthrow of the republic»
When Thomas Jefferson won his great popular victory of 1800,
many of his opponents and not a few of his friends declared it
was virtually a revolution*
way*
But Jefferson would not have it that
Profound political philospher that he was, he considered
the result one reasonably to be expected in the normal functioning
of a true democracy*
In his inaugural address he made this
quite clear by saying, ffWe are all Federalists; we are all antiFederalists*ff
Those were the parties that had opposed each other,
and by these words he w i s h e d to convey the idea that the division
of the people into these two groups was not fundamental*
They were
all Americans, believing in democracy and the constitutional
system by which it functioned*
but political.
Their differences were not doctrina
The line of demarcation between them arose over
questions of policy*
las it politic to continue to administer the
territory.
Members of Congress declared that Louisiana would
never be worth a dollar to the American Union*®
If anything,
Seward according to the critics had made a worse bargain*
Alaska
was a land of perpetual ice and snow, uninhabitable by white men
and an impossible distance from the United States, making it so
remote that it could not be of any use to us even if some part of
it should be found of any value*
And so the critics called it in
derision ®Seward*s Ice Box,® and condemned his purchase of it
for over $7,000,000 as utter folly*
Theodore Roosevelt*s turn*
Forty years later it was
The attempt of the great engineer
Be Lesseps to build the Panama Canal and duplicate his remarkable
achievement at Sues had ended in dlsmdl failure*
Roosevelt
determined to take up the unfinished task and complete it*
"Madness," cried the critics*
They argued that the deadly tropica]
climate and insuperable natural obstacles defeated Be Lesseps,
and had proved the building of a canal at the isthmus was an
impossibility*
Thus they boldly predicted that no canal would
ever be built there*
When Roosevelt insisted that the-Panama Cani
must be built and that the United States must build it, these
critics denounced him as an irresponsible visionary*
It is
difficult in this day for us who take the canal as a matter of
course to think that the possibility of its construction was
ever doubted, and that powerful opposition to building it as a
project of the government of the United States had to be met
and overcome.
These historical Incidents serve to illustrate the point
I desire to make.
From your study of our history, others will
an experiment to correct the bad adjustment or lack of adjustment
in the political, economic and social relations of the thirteen
states with each other*,
It was even a revolutionary experiment
and the men who proposed it, Washington, Madison and Franklin and
their associates in the Philadelphia convention had to hear this
taunt in addition to many more too numerous to be recounted here*
Speedy failure for it and everlasting obloquy for its authors were
predicted if by any remote chance it should be ratified by
states*
The event was otherwise, and vthese
the
who dared to 1
experiment have carved for themselves niches of honor, high in
America*s Hall of Fame*
Not once, but many times in the long course of our subsequent
history,
farseeing statesmen and leaders of almost every adminis
tration have been compelled to face and fight a like benighted
opposition to policies designed to* advance the true interests of
the country.
Jefferson, Seward and Theodore Roosevelt, to name
but a few, defied and triumphed over this type of antagonism to
three great acts which they advocated and which have been of untold
benefit to the national development and security of the United
States.
The Louisiana Purchase, the acquisition of Alaska, and
the building of the Panama Canal are new taught to every school
child in America as master strokes of statesmanship, whose
Influence upon our national life has been Immeasurable*
This is the verdict of history, but the judgment of their
contemporaries put no such estimate on what these men did*
History
tells us that, »Jefferson was ridiculed by his friends and hounded j
by his enemies for spending good money for so much worthless
10 -
Constitution, while all the world pays tribute to that document
as a great charter of government and of human liberty*
Contemporary criticism of epoch-making and novel programs
or policies of government cut a sorry figure indeed in the long
perspective of history*
In government as in the field of inventioJ
the follies of today very often become the triumphs of tomorrow.
Fulton, Bell, Westinghouse and the Wrights had to suffer the
ridicule of their contemporaries, who mocked and derided their
inventions, but the steamboat, the airbrake, the telephone and the
airplane wrought a new world, and confounded their critics*
Jibes i
and taunts of derision seem to have always been the lot of those
who proposed some novel idea of doing old and familiar things
in a new and ingenious way, or of doing things unheard of before,
or thought to be impossible*
History teaches that it is even more difficult to obtain the
acceptance of the novel, the untried, the experimental thing in
government*
Reforms and recognised improvements in the science
of government win their way slowly*
In no other field of human
relations is it so difficult to make progress.
Government lags
¡J lamentably behind the rapidly developing economic and social
world*
This creates a serious maladjustment of far-reaching.
consequence*
Occasionally a man of vision, a true statesman, ov
it may be a group of such men, arise to correct this defect in
the governmental machine, and then the storm of criticism breaks*
They have dared to leave the beaten track and make an experiment,
and for this they are charged with seeking to overturn the
existing order*
Our federal Constitution it may be recalled was,
itself, an unprecedented idea in the 18th century; it was, indeed,
- 9
worst fears of these distinguished men were never realized* because :
there was not the slightest justification in the courtes decision
for the extravagant predictions concerning it*
The truth is that
these men allowed their intense partisan feelings to get the better
of their judgment*
In their state of mind they simply could not or
would not envisage the continuance of constitutional government
along lines that modified the views of Marshall as expressed in
the Dartmouth College case*
But Story and Webster and Kent were not the first as they were
not the last to figure in this ill-starred role*
Hamilton walked out
on the constitutional convention and predicted that its deliberation]
would end in nothing worthwhile*
When the Constitution was reported
he declared it a «wretched makeshift«, although he labored hard for
its ratification*
Patrick Henry opposed its ratification by the
'IVirginia convention, and predicted repeatedly, with all the fire
and persuasive force of his matchless eloquence, that if the
Constitution was adopted it would irrevocably fasten a despotism on
the country, destroy the independence and sovereignty of the states,
and sound the death knell of liberty*
falsity of their predictions*
Both men lived to see the
By force of the Constitution, the
thirteen discordant, separatist states were welded into a strong
union enjoying a central government of limited powers, yet ample to
deal with the national problems of that day, without encroaching on
the necessary powers reserved to the states for the purpose of local
self-government*
Able and numerous were the contemporaries of
Henry who agreed with his dreaded predictions.
Today their eloquent
prophecies are the curiosities of our historical literature of the
-
| a
grace later, or it may be from a congenital inability to, survey the
human scene in a broad, catholic spirit*
Whatever the, reason may
be, it is certain that so often in the past have these direful
predictions proved to be Without the shadow of substance, the
American people now pay slight heed to such prophecies#
It Is ii^resting to note how utterly mistaken some of these
pseudo-prophejbs have been, and in the light of after events how
(¿undependable their prophecies were, notwithstanding the eminence
of their authors In the public life of the nation#
So great a
judge and so renowned a,.scholar as Story, who dissented In the
Charles liver Bridge Case one hundred years ago, doubted if any
law of Congress or of any state legislature would ever thereafter '
be declared unconstitutional#
In this pessimistic point of view,
to which he did not hesitate to give expression, he enjoyed the
companionship and the comfort of the powerful Intellect of Daniel I
Webster, who had lost this very case and who expressed the convict;
that the decision of the court completely overturned the contract
clause of the Constitution which he, in the celebrated Dartmouth
College case, had labored so successfully to establish#
The great!
Chancellor Kent agreed with both and lamented that the Constitution
| mm
could not survive as the framers Intended it, in the face of this
decision#
How oddly these lamentations fall on our ears today, when
the judicial function that Story feared was gone forever, now
seems to be almost the dally business of the Supreme Court !
7
The I
active*
. There is another type of criticism, however, that overreaches
itself by its very extravagance*
Of such are the ^viewers with
alarm15 who see dire calamity for the future in every policy with
which they disagree, and predict as a consequence thereof the
overthrow of the Constitution, the downfall of the country and the
death of liberty#
No American administration, from the beginning
of the Republic, has been,free from the attacks 8f these self*
appointed soothsayers*
Not content with moderate criticism that
would reveal the weakness or undesirability of the proposed poliqiesj
they resort to overstatement and prophecy*
When the critic resorts to unbridled
denunciation of the
Congress, the President or the Supreme Court, coupled with
ridiculbus predictions, simply because he disagrees with the way in
which either of those branches of the government has discharged its
sworn duty, the average citizen naturally becomes suspicious, and
rightly so*
The prestige of a great name may be behind that
criticism or it may be couched in the persuasive diction of smooth
phrases, but when calmly examined it is found to be a shallow attem^
at prophecy without basis or warrant*
Too often in the past we have found exsaying this unworthy
role some of the great ones who have trod the stage of public life.
This weakness of strong intellects is difficult to explain.
It
seems to me that it has its source in a combined sense of pique,
umbrage and resentment because of the adoption of policies or ideas
which they at first too strongly condemned tô accept with good
- 6 ~
encouragement*
such a cause*
The soil of America is simply not fertile ground fq
The overwhelming majority of Americans are still in |
favor of democracy as it functions under our constitutional system* I
Your study here of American history must have long since convinced
you that in any future crisis, as in so many in the past, our
people can he depended upon to cherish, and by their franchise to
preserve, those salutary principles of government which have for
a century and a half contributed so largely to their happiness and
welfare*
Difference of opinion over the wisdom or the prudence of the ,
policies of the administration in power at any given time, we shall
always have*
Such a condition seems to be inseparable from the
concept and practice of party government as that system of the
direction of public affairs has developed among English-speaking
peoples*
For my part I would not have it otherwise*
The
%
totalitarian state of which so many today are, or pretend to be,
enamored does not appeal to me*
Its very concept of the
suppression of all in one and of the identification of the party wi
the state is alien to the genius and spirit of the American people.
Fair, honest and well-intentioned criticism from the opposition,
however vigorous it may be, is a part, and a most important part,
of the American constitutional system of checks and balanced We
think, and have good warrant for it, that this system is the
surest guaranty of liberty*
Far from wishing or seeking to suppress
such opposition, all true friends of democracy, whether of the
• iC
party in power or not, ardently desire to see it vigilant and
5
r j
foreign to you»
Political contests will mean nothing to you, not
because you lack intelligent interest in public affairs, but
because in the high service in which you are enrolled, country,
and not party,is the first and the last object of your affections.
This abstention from electoral strife and tumult is a guarani
of your devotion to your country, and of your singleness of purpose
in serving her*
It is at the same time a sacrifice on your part
of no small portion of the privilege that belongs as of right to
freemen in a free representative democracy*
In thus foregoing
the exercise of your right as a citizen, you not only perform the
duty required of you by the special nature of your official
connection with the government, but you also pay a tribute to the
good sense, sound judgment and true patriotism of your fellow
Americans*
The capacity of our people to discharge properly the onerous
responsibilities of American citizenship has often been demonstrate
They have never yet chosen an administration that was unfaithful
to the fundamental principles of government embodied in the
Constitution and the Declaration of Independence, and I see no
indications that they ever will.
^ I am not unaware that voices are raised In the land in
disagreement with this view, but they do not disturb me*
Ï see no
evidence of any acts or intentions subversive of the government*
Fears expressed concerning such a probability are scarcely worthy
of serious consideration*
If such a movement should arise in this
country, I have no doubt that our people would, give it little
~ 4 ~
performing,” and so I shall refrain from indulging in that practic
I do want to say to you a word or two about our country and
its government*
Within a few moments you will receive commission
under the hand of the President that will make you officers of the
government in a most necessary and highly important service*
By
that act you will be endowed with a part of the authority that
resides in the executive department*
The officers above you in
rank in the guard will be your immediate superiors, but the
President of the United States will be your ultimate superior*
In
whatever duty you may be called upon to perform,you will be
assisting him, you will be his deputy executing a part of the
obligation charged upon him as the chief executive officer of the
republic*
Thus in your individual person, by virtue of this
commission, you will become integrated with the national government,
Henceforth,wherever you go, you will carry your country with you*
This is a serious and solemn responsibility that comes
linked with the honor and dignity which you receive today*
Your
commission signifies that you are ah official representative of
the United States* No act, nay, no word of yours as Inng as you
hold that commission should ever discover you to be anything but
a firm and loyal supporter of the government*
Regardless of the
party that may temporarily administer the policies and preside
over the destiny of the nation, you will everywhere and at all
times be
distinguished by your unquestioning obedience to, and
respectful bearing toward the highest civil authority in the land*
In other words the partisanship of the civilian will be entirely
• % -
these beautiful buildings which now comfortably and adequately hous
the academy*
It would seem that now the j o u m e y i n g s of the school
a re o v e r, and th a t i t h a s found a t l a s t a permanent home*
Congress
has done wisely, I think, in locating this fine institution here
%
in New England where schools and colleges are indigenous to the
soil and where the sea is no stranger to the people*
To countless
numbers of New Englanders the sea is and has been a second home,
and so we think the Coast guard Academy is truly at home in New
England*
again*
Our hope is that Congress will never permit it to wander
,* ^
^ 1 *.a -. *
I have come here today, however, not to speak of the coast
guard or pay it encomiums*
It needs none*
Its brilliant record
of service to country and to stricken humanity
more eloquent than human tongue can utter*
is its own encomium]
I come rather to speak
to you fortunate young men who are proudly leaving these halls toda]
to take your place among the officers of the guard.
It is an honor to be asked to speak to you on this happy
occasion*
I am all too conscious of the fact that there is little
that I can say to you at such a time that will be of any great
consequence or have any lasting impression on your minds*
you advice i£ neither my intention nor my purpose*
To give
Such of that
as is needful for you in your future career I suppose you have
already received in ample measure from those in authority here
fully competent to perform that office*
In any event, I am reminder
that Carlyle once said to the university men of Edinburgh, ^Advices
I believe, to young men, as to all men are very seldom much valued
There is a great deal of advising and very little faithful
- 2 -
These commencement exercises of the Coast Guard Academy mark
another milestone in the record of distinguished service which this
institution has rendered to the coast guard and to the country*
The
people of America are justly proud of the coast guard and they have
good reasons for that pride.
Ho other agency of our national
government can look back upon a longer or more useful life as a
necessary and important instrumentality in the performance of the
duties for which our Federal Union was called into being *
The first Congress, at the request of the first Secretary of
the Treasury, Alexander Hamilton, recognized the necessity of a
service of this nature, and authorized its establishment in 1790.
Succeeding congresses broadened the scope of its functions and
greatly increased its material and personnel in order to properly
fit it for the efficient performance of the duties of its enlarged
sphere of action.
This increase in personnel over the years
demonstrated the need for a school in which the commissioned officers
could be adequately trained and where as cadets they could, before
receiving their commissions, acquire that esprit du corps so
essential to a body of men selected to look death and danger in the
face with calm and steadfast courage*
The Coast Guard Academy was the result.
After many
vicissitudes of place and circumstance this historic school was
settled on the banks of this lordly river among a people whose
earliest recollections are of the sea, and of men who go down to the
sea in ships.
This rare old seaport town of New London on the
silvery estuary of the Thames is a most appropriate setting for
- 1 -
For Release Afternoon Papers
Monday, June 8, 1936,
Address of the Honorable Francis B. Condon
Associate Justice of the Supreme Court of
the State of Rhode Island to the Graduating
Class of the Coast Guard Academy at New
London, Connecticut, June 8, 1936.
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON REITSPAPERS,
Monday, June 8, 1956,
6-5-36
Press Service
No, 7-53
Address of the ilonorable Francis B, Condon, Associate Justice of the
Supreme Court of the State of Rhode Island to the Graduating'Class of the
Coast Guard Academy at New London, Connecticut, June S, 1936#
These commencement exercises of the Coast Guard Academy mark another mile
stone in the record of distinguished service which this institution has rendered
to the coast guard and to the country#
The people of America are justly proud of
the coast guard and they have good reasons for that pride.
Ho other agency of
our national government can look back upon a longer or more useful life as a
necessary and important instrumentality in the performance of the duties for
which our Federal Union was called into being#
The first Congress, at the request of the first Secretary of the Treasury,
Alexander Hamilton, recognized the necessity of a service of this nature, and
authorized its establishment in 1790.
Succeeding congresses broadened the scope
of its functions and greatly increased its material and personnel in order to
properly fit it for the efficient performance of the duties of its enlarged sphere
of action#
This increase in personnel over the years demonstrated the need for a
school in which the commissioned officers could be adequately trained and where
as cadets they could, before receiving their commissions, acquire that esprit du
corps so essential to a body of men selected to look death and danger in the face
with calm and steadfast courage.
The Coast Guard Academy was the result.
After many vicissitudes of place
and circumstance this historic school was settled on the banks of this lordly
river among a people whose earliest recollections arc of the sea, and of men who
go down to the sea in ships.
This rare old seaport town of Hew London on the
silvery estuary of the Thames is a most appropriate setting for those beautiful
buildings which now comfortably and adequately house the academy.
It would seem
that now the journeyings of the school are over, and that it has found at last a
permanent home*
Congress has done wisely, I think, in locating this fine insti*-
tution hero in Now England whore schools and colleges are indigenous to the soil
and where the sea is no stranger to the people#
To countless numbers of Now
Englanders the sea is and has been a second homo, and so wo think the Coast Guard
Academy is truly at homo in Now England.
Our hope is that Congress will never
permit it to wander again,
I have come hero today, however, not to speak of the coast guard or pay it
encomiums.
It noeds none.
Its brilliant record of service to country and to
stricken humanity is its own encomium, more eloquent than human tongue can utter,
I come rather to
speak to you fortunate young men who are proudly leaving these
halls today to take your place among the officers of the guard.
It is an honor to be asked to speak to
you on this happy occasion,
tooconscious of the fact that there is little that I can say
I am all
to you at such a
time that will be of any great consequence or have any lasting impression on your
minds.
To give you advice is neither my intention nor my purpose.
Such of that
as is needful for you in your future career I suppose you have already received
in ample measure from those in authority hero fully competent to perform that
office.
In any event, I em
reminded that Carlyle once said to the university men
of Edinburgh, "Advices, I believe, to young men, as to all men are very seldom
much valued.
There is a great deal of advising and very little faithful perform
ing," and so I shall refrain from indulging in that practice.
I do want to say to you a
word or two
about our country and its government.
Nithin a few moments you will receive commissions under the hand of the President
that will make you officers of tho government in a most necessary and highly
important service.
By that act you will bo endowed with a part of the authority
that resides in the executive department.
The officers above you in rank in the
guard m i l bo your immediate superiors, but tho President of the United States
will bo your ultimate superior.
In whatever duty you may be called upon to per-
form, you will be assisting him, you m i l be his deputy executing a part of tho
obligation charged upon him as the chief executive officer of the republic.
Thus
in your individual person* by virtue of this commission, you will become inte
grated with the national government.
Henceforth, wherever you go, you will
carry your country with you.
This is a serious and solemn responsibility that comes linked with the honor
and dignity which you receive today.
Your commission signifies that you are ap.
official representative of the United States,
Ho act, nay, no word of yours as
long as you hold that commission should ever discover you to be anything but a
firm and loyal supporter of the government.
Regardless of the party that may
temporarily administer the policies and preside over the destiny of the nation,
you will everywhere and at all tines be distinguished by your unquestioning
obedience to, and respectful bearing toward the highest civil authority in the
land.
In other words the partisanship of the civilian will be entirely foreign
to you.
Political contests will mean nothing to you, not because you lack
intelligent interest in public affairs, but because in the high service in which
you are enrolled, country, and not party, is the first and the last object of
your affections.
This abstention from electoral strife and tumult is a guaranty of your
devotion to your country, and of your singleness of purpose in serving her.
It
is at the same time a sacrifice on your part of no small portion of the privilege
that belongs as of right to freemen in a free representative democracy.
In thus
foregoing the exercise of your right as a citizen, you not only perform the duty
required of you by the special nature of your official connection with the govern
ment, but you also pay a tribute to the good sense, sound judgment and true
patriotism of your fellow Americans,
The capacity of our people to discharge properly the onerous responsibili
ties of American citizenship has often been demonstrated.
They have never
yet chosen an administration that was unfaithful to the fundamental principles of
government embodied in the Constitution and the Declaration of Independence, and
I see no indications that they ever will.
-4I am not unaware that voices are raised in the land in disagreement with
this view, hut they do not disturb me.
tions subversive of the government.
I see no evidence of any acts or inten
Fears expressed concerning such a probability
are scarcely worthy of serious consideration.
If such a movement should arise in
this country, I have no doubt that our people would give it little encouragement.
The soil of America is simply not fertile ground for such a cause.
The over
whelming majority of Americans are still in favor of democracy as it functions
under our constitutional system.
Your study here of American history must have
long since convinced you that in any future crisis, as in so many in the past,
our people can be depended upon to cherish, and by their franchise to preserve,
those salutary principles of government which have.for a century and a half con
tributed so largely to their happiness and welfare.
Difference of opinion over the wisdom or the prudence of the policies of
the Administration in power at any given time, we shall always have. Such a con
dition seems to be inseparable* from the concept and practice of party govern
ment as that system of the direction of public affairs has developed among
English-speaking peoples.
For my part I would not have it otherwise.
The
totalitarian state of which so many today are, or pretend to be, enamored does
not appeal to me.
Its very concept of the suppression of all in one and of the
identification of the party with the state is alien to the genius and spirit of
the American people.
Fair, honest and well-intentioned, criticism from the
opposition, however vigorous it may be, is a part, and a most important part,
of the American constitutional system of checks and balances.
We think, and have
good warrant for it, that this system is the surest guaranty of liberty.
Far
from wishing or seeking to suppress such opposition, all true friends of democracy
whether of the party in power or not, ardently desire to see it vigilant and
active
There is another type of criticism, however * that overreaches itself by its
very extravagance.
6f such are the ’’viewers with alarm” who see dire calamity
for the future in every policy with which they disagree, and predict as a conse
quence thereof the overthrow of the Constitution, the downfall èf the country and
the death of liberty.
Ho American administration, from the beginning of the
Republic, has been free from the attacks of these self-appointed soothsayers.
Hot
content with moderate criticism that would reval the weakness or undesirability
of the proposed policies, they resort to overstatement and prophecy.
When the critic resorts to unbridleddenunciation of the Congress, the
President or the Supreme Court, coupled with ridiculous predictions, simply
because he disagrees with the way in which either of those branches of the govern
ment has discharged its sworn duty, the average citizen naturally becomes sus
picious, and rightly so.
The prestige of a great name may be behind that
criticism or it may be couched in the persuasive diction of smooth phrases, but
when calmly examined it is found to be a shallow attempt at prophecy without basis
of warrant.
Too often in the past we have found essaying this unworthy role some of the
great ones who have trod the stage of public life.
intellects is difficult to explain.
This weakness of strong
It seems to me that it has its source in a
combined sense of pique, umbrage and resentment because of the adoption of
policies or ideas v/hich they at first too strongly condemned to accept with good
grace later, or it may be from a congenital inability to survey the human sense
in a broad, catholic spirit.
Whatever the reason may be, it is certain that so
often in the past have these direful predictions proved to be without the shadow
of substance, the American people now pay slight heed to such prophecies.
It is interesting to note how utterly mistaken some of these pseudo-prophets
have been and in the light of after events how undependable their prophecies were,
~6~
notwithstanding the eminence of their authors in the publie life of the nation.
So great a judge and so renowned a scholar as Story, who dissented in the Charles
River Bridge Case one hundred years ago, doubted if any law of Congress or of any
state legislature would ever thereafter be declared unconstitutional*
In this
pessimistic point of view, to which he did not hesitate to give expression, he
enjoyed the companionship and the comfort of the powerful intellect of Daniel
Webster, who had lost this very case and who expressed the conviction that the
decision of the court completely overturned the contract clause of the Constitution which he, in the celebrated Dartmouth College case, had labored so
successfully to establish.
The great Chancellor Kent agreed with both and
lamented that the Constitution could not survive as the framers intended it, in
the face of this decision.
How oddly these lamentations fall on our ears today, when the judicial
function that Story feared was gone forever, now seems to be almost the daily
business of the Supreme Court!
The worst fears of these distinguished men were
never realized, because there was not the slightest justification in the court*s
decision for the extravagant predictions concerning it.
The truth is that these
men allowed their intense partisan feelings to get the better of their judgment.
In their state of mind they simply could not or would not envisage the continu
ance of constitutional government along lines that modified the views of Marshall
as expressed in the Dartmouth College Case.
But Story and Webster and Kent were not the first as they were.not the last
to figure in this ill-starred role*
Hamilton walked outon the constitutional
convention and predicted that its deliberations would end in nothing worthwhile*
When the Constitution Was reported he declared it a ’’wretched makeshift’1, although
he labored hard for its ratification.
Patrick Henry opposed its ratification by
the Virginia convention, and predicted repeatedly, with all the fire and persua
sive force of his matchless eloquence, that if the Constitution was adopted it
would irrevocably fasten a despotism on the country, destroy the independence
and sovereignty of the states, and sound the death knell of liberty.
lived to see the falsity of their predictions.
Both men
By force of the Constitution,
the thirteen discordant, separatist states were welded into a strong union
enjoying a central government of limited powers, yet ample to deal with the
national problems of that day, without encroaching on the necessary powers
reserved to the states for the purpose of local self-government.
Able and
numerous were the contemporaries of Henry who agreed with his dreaded predic
tions.
Today their eloquent prophecies are the curiosities of our historical
literature of the Constitution, while all the world pays tribue to that document
as a great charter of government and of human liberty.
Contemporary criticism of epoch-making and novel programs or policies of
government cut a sorry figure indeed in the long perspective of history.
In
government as in the field of invention the follies of today very often become
the triumphs of tomorrow.
Pulton, Bell, Westinghouse and the Wrights had to
suffer the ridicule of their contemporaries, who mocked and derided their
inventions, but the steamboat, the airbrake, the telephone and the airplane
wrought a new world, and confounded their critics.
Jibes and taunts of derision
seem to have always been the lot of those who proposed some novel idea of doing
old and familiar things in a new and ingenious way, or of doing things unheard
of before, or thought to be impossible.
History teaches that it is even more difficult to obtain the acceptance
of the novel, the untried, the experimental thing in government.
Reforms and
recognized improvements in the science of government win their way slowly.
no other field of human relations is it so difficult to make progress.
In
Govern
ment lags lamentably behind the rapidly developing economic and social world.
This creates a serious maladjustment of far-reaching consequence.
Occasionally
-8«
a man of vision, a true statesman, or it may "be a group of such men, arise to
correct this defect in the governmental machine, and then the storm of criticism
breaks.
They have dared to leave the beaten track and make an experiment, and
for this they are charged with seeking to overturn the existing order.
Our
federal Constitution it may be recalled was, itself, an unprecedented idea in
the 18th century; it was, indeed, an experiment to correct the bad adjustment or
lack of adjustment in the political, economic and social relations of the thirteen
states with each other.
It was even a revolutionary experiment and the men who
proposed it, Washington, Madison and Franklin and their associates in the
Philadelphia convention had to hear this taunt in addition to many more too
numerous to be recounted here.
Speedy failure for it and everlasting obloquy
for its authors were predicted if by any remote chance it should be ratified by
the states.
The event was otherwise, and these men who deared to experiment have
carved for themselves niches of honor, high in America’s Hall of Fame.
Not once, but many times in the long course of our subsequent history,
farseeing statesmen and leaders of almost every administration have been compelled
to face and fight a like benighted opposition to policies designed to advance
the true interests of the country.
Jefferson, Seward and Theodore Roosevelt,
to name but a few, defied and triumx^hed over this type of antagonism to three
great acts which they advocated and- which have been of.untold benefit to the
national development and security of the United States.
The Louisiana Purchase,
the acquisition of Alaska, and the building of the Panama Canal are now taught
to every school child in America as master strokes of statesmanship, whose
influence upon our national life has been immeasurable.
This is the verdict of history, but the judgment of their contemporaries
put no such estimate on what these men did.
History tells us that, ’’Jefferson
was ridiculed by his friends and hounded by his enemies forspending good money
-9for so much worthless territory*
Members of the Congress declared that
Louisiana would never he worth a dollar to the American Union.”
Steward according to the critics had made a worse bargain.
If anything,
Alaska was a land of
perpetual ice and snow, uninhabitable by white men and an impossible distance
from the United States, making it so remote that it could not be of any use to us
even if some part of it should be found of any value.
And so the critics called
it in derision ’’Sev/ard’s Ice Box,11 and condemned his purchase of it for over
$7,000,000 as utter folly.
Forty years later it was Theodore Roosevelt’s turn.
The attempt of the great engineer DeLesseps to build the Panama Canal and
duplicate his remarkable achievement of Suez had ended in dismal failure. Roose
velt deterr.ined to take up the unfinished task and complete it.
criad the critics.
’’Madness,”
They argued that the deadly tropical climate and insuperable
natural obstacles defeated DeLesseps, and had proved the building of a canal at
the isthmus was an impossibility.
would ever be built there.
Thus they boldly predicted that no canal
When Roosevelt insisted that the Panama Canal must
be built and that the United States must built it, those critics denounced him
as an irresponsible visionary.
It is difficult in this dc
sy for us who take
the canal as a matter of course to think that the possibility of its construction
was ever doubted, and that powerful opposition to building it as a project of
the government of the United States had to be met and overcome.
These historical incidents serve to illustrate the point I desire to make.
From your study of our history, others will occur to you of like import.
They
remind us that few policies of government are ever quite so terrible or so fool
ish as their opponents would have the people believe.
people cannot be so easily deceived.
Fortunately the American
They have had a long apprenticeship in
such matters and. know fairly well how to distinguish between spurious and
genuine criticism. The dominance of either of the great politiCcal parties, they
-
10-
well know, will not adversely affect the fundamental fabric of their government
as a representative democracy, and they are, therefore, not easily frightened
into a state of fear that the policies of either are intended to or will result
in the overthrow of the republic.
When Thomas Jefferson won his great popular victory of 1800, many of his
opponents and not a few of his friends declared it was virtually a revolution.
But Jefferson would not have it that way.
Profound political philosopher that
he was, he considered the result one reasonably to be expected in the normal
functioning of a true democracy.
In his inaugural address he made this quite
clear by saying, ”We are all Federalists; we are all anti-Federalists.B
Those
were the parties that had opposed each other, and by these words he wished to
convey the idea that the division of the people into these two groups was not
fundamental.
They were all Americans, believing in democracy and the consti
tutional system by which it functioned.
but political.
policy.
Their differences were not doctrinal,
The line of demarcation between them arose over questions of
Was it politic to continue to administer the government as the
Federalists were administering it, was the issue, and not whether it was right.
Otherwise-they were one in their loyalty and attachment to the fundamental
principles of the government, however much they might differ over questions of
policy in the administration of the government.
Patriotic Americans, following the wisdom of Jefferson, look upon our
electoral contests today in the same tolerant spirit, and face with equanimity
the success of either party.
They know, notwithstanding partisan oratory to
the contrary, that on the issue of the contest depends neither liberty nor
democracy.
At best the election is but a choice of men and policies for the
administration of the government under our federal system, and not a choice of
continuing that system or adopting a different one.
I do not say that such a
-
11-
change cannot happen here, hut I do say that it will not and cannot occur as
the result of an ordinary election.
With all its defects, we enjoy the hest form of government in the world.
Under it justice is established, domestic order is preserved, national security
is provided, the happiness of our people is promoted and with it all we are
assured the inestimable blessing of liberty.
None of these, it is admitted, do
we enjoy in their perfection, but where and when in the long record of time,
under any government, have the people ever enjoyed them in perfection?
answer is never.
The
Philosophers have dreamed of such a perfect state, but the
visions of Plato and More have never had reality in this world, and it is safe
to say that just so long as human nature remains what it is, they never shall.
Nations and men may and should seek after perfection, but they are doomed never
to attain it.
It is agreed that our government is as close an approximation to
this happy state as any other, and closer than most, and therefore we.are
actuated by every motive of self-interest to safeguard and cherish it.
Throughout our history as a nation, our people have shown a profound ap
preciation of the blessings which they enjoy and a firm determination to
preserve them from the attacks of enemies, foreign and domestic.
Their vigilance
and their intelligent civic interest have averted such danger in the past and
we have every reason to believe that they will
do so now and
But no danger of that kind threatens us today.B espite the travail
in thefuture.
and the
suffering through which we have come in recent years, our country remains the
happiest and most prosperous in the world.
We are facing the future with
that oldtime confidence that made us the great
nation we are
today.In the
face of trials and difficulties that tried the
hearts of the
strongest among
ns, we adhered to our system of government and kept our faith in democracy.
Spurning all the new '’isms'1 with their dictatorships and relying only, as we
-
12-
had done in every other great crisis, on our Americanism, we fought our way
unaided and alone, triumphing over one obstacle after another, until now we
are coming through to victory.
America is out in front again leading the nations on the way to prosperity.
Our trade is increasing steadily, our currency is the safest and most stable
medium in the money markets of the world, our millions of unemployed are re
turning to work, and domestic business is everywhere improving.
Such is the state of the nation.
This happy country, you fortunate young
men of the class of 1936 go forth from these halls to serve.
Ho air of gloom
and no grim foreboding casts a pall over the young men who commence their
careers in the world and leave their academic robes behind them in this commence
ment year.
You may well rejoice with your fellow graduates of our colleges and
universities that this encouraging prospect opens before you as it does for them.
True, it may have a more eager and hearty welcome from them because they have
yet to find a place for themselves in the world which they are about to enter,
v/hereas with you your place is secure, because you found it when you first
entered these walls and continued on to this your graduation day.
nevertheless
it is cause for joy to you also, because as patriotic Americans you want to see
your country at all times happy and prosperous, and her people enjoying the
blessings of peace and ordered liberty.
I verily believe that is the condition of our country at this hour.
Your
country is very dear to you, X am sure, or you would not have chosen the Coast
Guard for a career.
And so in closing these altogether too lengthy remarks,
I wish to compliment you on the choice you have made, and congratulate you
on the success you have thus far achieved.
My earnest wish for you is that
you will retain throughout a long life a just pride in serving your country;
that you will emulate the deeds of heroism and high courage of those officers
-13of the Guard who have preceded you; and that you will keep ever in mind the
sublime motto of the Coast Guard, "Semper Paratus" and all that it means.
No more fitting watchword for a service such as this could have been chosen to
symbolize its duties and responsibilities*
Semper Paratus.
Always ready.
Always ready at the call of duty.
ready to do the task that duty calls.
others.
Always ready to forget self to save
These are the high traditions of the Coast Guard.
traditions are placed in your keeping.
Hold them high.
00O 00
I
!
Always
Today those
trsasoot m
w
Iteshtfigfcem.
FOB IMMEDIATE RELEASE,
Friday, Jims 5, 1936«
Press Service
Secretary of the Treasury Morgenthau today announced the subscription
figuras and the bases of allotment for the cash offering of 2-3/4 paroant
Treasury Bonds of 1951-34 and of 1-3/8 percent Treasury Rotes of Series
B-X941*
Reports received from the Federal Reserve banks show that subscriptions
for the cash offering of Treasury bonds, which was for #600,000,000, or there
abouts, aggregate #4,282,000,000,
Subscriptions in amounts up to and includ
ing #5,000 were allotted In full and those in amounts oyer #5,000 were allotted
1 tf percent, but not less than #5,000 on any one subscription*
For the ©ash offering of Treasury notes, which was for #400,000,000, or
thereabouts, subscriptions aggregate #2,772,000,000,
Gash subscriptions in
amounts up to and Including #5,000 were allotted in full and those in amounts
oyer # 5 , 0(B) were allotted
tS ~
percent, but not less than #5,000 on any one
subscription.
Preliminary reports of exchange subscriptions, in payment of which Treasury
Rotes of Series 1-1936, maturing lime 15, 1936, and of Series A-1936, maturing
August 1, 1936, were tendered, Indicate that practically all of the maturing
notes will be exchanged for the new issues, and that oyer 90 percent of the
exchanges are for the bonds.
Further details as to subscriptions and allotments will be announced when
final reports are received from the Federal Reserve banks#
TREASURY DEPARTMENT
Washington
FOR IMEDIATE RELEASE
Friday, June 5, 1936.
Press Service
N°* 7-54
Secretary of the Treasury Morgenthau today announced the subscription
figures and the bases of allotment for the cash offering of 2-3/4 percent
Treasury Bonds of 1951-54 and of 1-3/8 percent Treasury Notes of Series
B-1941,
Reports received from the Federal Reserve banks show that subscriptions
for the cash offering of Treasury bonds, which was for $600,000,000, or there
abouts, aggregate $4,282,000,000.
Subscriptions in amounts up to and includ
ing $5,000 7/ere allotted in full- and those in amounts over $5,000 were allotted
14 percent, but not less than $5,000 on any one 'subscription.
For the cash offering of Treasury notes, which was for $400,000,000, or
thereabouts, subscriptions aggregate $2,772,000,000.
Cash subscriptions in
amounts up to and including $5,000 were allotted in full and those in amounts
over $5,000 were allotted 15 percent, but not less than $5,000 on any one
subscription.
Preliminary reports of exchange subscriptions, in payment of which Treasury
Notes of Series E-1936, maturing June 15, 1936, and of Series A-1936, maturing
August 1, 1936, were tendered, indicate that practically all of the maturing
notes will be exchanged for.the new issues, and that over 90 percent of the
exchanges are for the bonds.
Further details as to subscriptions and allotments will>be announced
when final reports are received from the Federal Reserve banks.
— oOo—
È
Cockletely denatured Aloohel Itosela No* |||
To every 100 parts by volume of ethyl alcohol of not
less than 160° proof addi
€ parte by voltasse ef " W - H S T , or a compound
similar thereto*
i parta by voltale of Methyl ìsobutyl Keteme*
1 part hy váleme of Gasoline*
0*5 parte by volerne of "Agdiie* or a compound elm»
liar thereto, or 1 part by volume of *%0roaal* or a
compound similar thereto*
All completely denatured alcohol formulae heretofore
authorized are hereby revoked, except that the formulae
for the modificatici of existing stocks of completely dena
tured alcohol ^tornila« Numbers 8<*A and 10 prescribed by
Treasury Decision 4645 approved thy if* 1906 shall remala
ia effect until such stocks are so modified*
This regulation shall become effective 3hly 1, 1936*
Ceramissloner of Internal Revenue
Approved; 3Une
WVL/IRZ
June
,1936
è t
>1936*
ft* &*
Authorising Completely Denatured Alcohol
Fomula© 11, %2 and 15#
mwmé wsHsmam
Office of Comaissioner of Internal K©venue
Washington! B* 0 *
TO DISTRICT 3988738889
m> amm cammmt
Pursuant to authority conferred hy the Act of Jhna 7,
1906 and Title H I of the National Prohibition Act, the fol
losing completely denatured alcohol fosmula© are hereby
authorised!
Completely Denatured Alcohol Formula No, 11#
To every 100 parts by volume of ethyl alcohol of not
less than 160° proof add:
3
parta by volume of "Pontol-KV, or a eouipound
similar thereto»
3
parts by volume of ”ST*115*, or a corapound
sisdlar thereto.
1 part by v d m e of Oasoline,
0,3 parts by volume of "Agdite* or a corapound sîra*
ilar thereto, car 1 part by volume of "Uydronol* or a
corapound strier thereto.
Denatured Alcool Itosmla No,
To every 100 parts by volume of ethyl alcohol of not
less than 160° proof adds
4
parte by volume of *Poat©l*K*, or a corapound
similar thereto.
2
parts by volume of Methyl Isobutyl Ketone,
1 part by volume of Gasoline.
1 part by voltsae of "Agdite* or a compound sim
ilar thereto, or S parts by vdtsse of ^Jlydronol* or a
compound similar thereto.
wHrv'
M ^ i v v v a ^ w ^
£
New formulae for completely denatured alcohol have been
established, effective July 1,1936, it was announced today at the Treasury
Department* In a Treasury Decision issued by the Commissioner of Internal Revenue
and approved by the Secretary of the Treasury, producers of completely denatured
alcohol are given their choices of using any one of the following three new
(y. M V L - W
formulae :
(pick u£)
Existing stocks may be denatured by the use of Formulae
Nos* 5-A and 10, as prescribed by Treasury Decision 4646 approved May 27,1936*
With this exception all formulae previously issued for completely denatured
j
alcohol are revoked*
Authorization of these new formulae represents the
completion of the first step of a program which envisages the development of
alcohol formulae not only offering more protection against the operations of
the bootlegging industry, but providing the legitimate industry with a product more
readily adaptable to the purposes for which it is intended*
The technical staff of the bureau meanwhile is continuing its
researches into the theory of denaturHationsaa , to the end that the whole problem
of providing the industry with completely denatured, and specially denatured,
alcohols may be simplified to its advantage and that of the government*
TREASURY DEPARTMENT
Washington
FOR IM1CEDIATE--RELEASE-,'
Saturday, ‘
June 6, 1936.
Press Service
^°*
New formulae for completely denatured alcohol have "been established,
effective July 1, 1936, it wa,s announced today at the Treasury Department.
In
a Treasury Decision issued by the Commissioner of Internal Revenue and approved
by the Secretary of the Treasury, producers of completely denatured alcohol are
given their choice of using any one of the following three new formulae:
Completely Denatured Alcohol Formula No» 11»
To every 100 parts by volume of ethyl alcohol of not less than 160°
proof add:
3 parts by volume of ’’Pontol-K”, or a compound similar thereto,
3 parts by volume of '’ST-llS”, or a compound similar thereto,
1 part by volume of Gasoline,
0,5 parts by volume of rtAgditeM or a compound similar thereto, or 1 part
by volume of !,Hydronol,f or a compound similar thereto.
Completely Denatured Alcohol Formula No, 12,
To every 100 parts by volume of ethyl alcohol of not less than 160°
proof add;
4 parts by volume of ,,Pontol~KH, or a canpound similar thereto,
2 parts by volume of Methyl Isobutyl Ketone,
1 part by volume of Ga.soline,
1 part by volume of nAgditen or a. compound similar thereto, or 2 parts
by volume of 'Tiydronol”, or a compound similar thereto.
Completely Denatured Alcohol Formula No, 13,
To every 100 parts by volume of ethyl alcohol of not less than 160°
proof add:...
’
4 parts by volume of UST-115M, or a compound similar thereto,
2 parts by volume of Methyl Isobutyl Ketone,
1 part by volume of Gasoline,
0,5 parts by volume of MAgditen or a compound similar thereto, or 1
part by volume of nHydronolM or a compound similar thereto.
-2Existing stocks may "be denatured by the use of formulae Nos. 5-A end 10,
as prescribed by Treasury Decision 4646 approved May 27, 1936.
With this
exception all formulae previously issued for completely denatured alcohol
are revoked.
Authorization of these new formulae represents the completion of the
first step of a program which envisages the development of alcohol formulae
not only offering more protection against the operations of the bootlegging
industry, bat providing the legitimate industry with a product more readily
adaptable to the purposes for which it is intended#
The technical staff of the bureau meanwhile is continuing its researches
into the theory of dénaturation, to the end that the whole problem of providing
the industry with completely denatured, and specially denatured, alcohols may
be simplified to its advantage and that of the government#
ooOoo
?
4
LOST, STOLEN, OR DESTROYED BONDS
17. In case of loss, theft, or destruction of a bond, the Treasury Department, Division of
Loans and Currency, Washington, D. C., should be notified immediately of the serial number
of the bond and the name and address of the registered owner. Upon receipt of such notice
full information as to requirements for issuance of a duplicate will be provided. Application
for relief in such cases will be governed in general by the regulations found in Department
Circular 300, as amended. The Treasury Department should likewise be notified of the re
covery of any bond reported lost, stolen, or destroyed.
TAXATION
18. In accordance with applicable law, the bonds are exempt, both as to principal and
interest, from all taxation, except estate, inheritance, or gift taxes, 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.
AMENDMENTS
19. The Secretary of the Treasury reserves the right at any time, or from time to time,
to revoke, or amend these regulations, or to prescribe and issue supplemental or amendatory
rules and regulations governing Adjusted Service Bonds.
H E N R Y M O R G E N T H A U , Jb .,
Secretary of the T re asu ry .
U . S . GOVERNMENT PRINTING OFFICE
2— 17123
requested of the T reasu ry Departm ent, D iv isio n of L o a n s an d C u rren cy , W ash ington , D . C.,
before a request fo r paym ent is executed or a bond submitted.
OFFICERS AUTHORIZED TO CERTIFY REQUESTS FOR PAYMENT
11. The following officers are authorized to witness requests for payment and certify
thereto:
(a) Any United States postmaster, acting postmaster, inspector in charge of a post office,
or other post-office employee designated by the postmaster under authority of the Postmaster
General, under a legible imprint of a dating stamp of his post office;
(b) The officer in charge of any home, hospital, or other facility of the Veterans’ Admin
istration, but only as to patients and members actually domiciled at the station over which
the certifying officer exercises jurisdiction;
(c) Any executive officer of a bank or trust company (or branch thereof) incorporated in
the United States, its organized Territories or insular possessions, under the corporate seal of
the bank or trust company;
(d) Judges and clerks of United States courts, under the seal of the court; United States
Collectors of Customs and Internal Revenue; commanding officers of the Army, Navy, Marine
Corps, and Coast Guard of the United States for members of their respective establishments;
officials of the Treasury Department, who may be designated from time to time by the Secre
tary of the Treasury;
(e) In a foreign country: United States diplomatic and consular representatives and
attachés, under their respective seals; managers and executive officers of foreign branches of
banks or trust companies incorporated in the United States.
12. No person authorized to certify requests for payment may certify a request signed
by himself, either in his own right or in any representative capacity.
13. Certifying officers will be held responsible for positive identification of the person
requesting payment as the person whose name appears on the face of the bond, or the person
entitled to request payment under these regulations, and, ifnecessary, should require witnesses
to identify that person. Provision for signatures and addresses of witnesses, and for finger
prints in exceptional cases, is made on the back of the bond.
GENERAL PROVISIONS
14. No request for payment signed by an agent or person acting under a power of attorney,
in behalf of the registered owner or the representative of his estate, will be recognized by the
Treasury Department. In no case will any payment be made other than to the registered
owner or the representative of his estate.
15. In cases where documents are required to support a request for payment and two or
more bonds are presented at the same time, only one set of documents will be required.
TRANSMISSION OF BONDS
16. Any transmission of a bond to the Treasury Department will be at the risk and
expense of the ‘owner. The use of registered mail is suggested.
2
6. Payment in all cases will be made by check drawn to the order of the registered owner,
and mailed to him at the address stated in his request for payment.
PAYMENT IN CASE OF DEATH OR INCOMPETENCE OF REGISTERED OWNER
7. In cases of death or incompetence of the registered owner, if payment is desired, it will
be made as hereinafter provided. The provisions of Department Circular 300, as amended,
will, so far as applicable, apply to such cases, all of which will be handled only by the Treasury
Department, Division of Loans and Currency, Washington, D. C.
8. W ith adm inistration.— When a legal representative of the estate of a deceased bond
owner has been duly appointed, payment will be made only to him. The request for payment
should be signed, “Estate of A, deceased, by B, executor (administrator)”, must state the
address of the representative, and must be signed in the presence of and must be certified by
one of the officers authorized in paragraph 11. The bond must then be transmitted to the
Treasury Department, Division of Loans and Currency, Washington, D. C. Unless satisfac
tory evidence of qualification of the representative is already on file with the Treasury Depart
ment, the bond must be accompanied by a certificate (which may be a certified copy of the
representative’s letter of appointment) under the seal of the court appointing such representa
tive, dated not more than six months before presentation of the bond for payment, showing
the appointment and qualification of such representative and stating that the appointment
is still in force.
9. Le gal gu ard ian sh ip . — When the Treasury Department has notice that a legal repre
sentative of the estate of an incompetent bond owner has been duly appointed, payment will
be made only to such representative. If payment is desired, the request for payment should
be signed “A, incompetent, by B, guardian (conservator or committee)” and must state the
representative’s address. It must be signed in the presence of and must be certified by one
of the officers authorized in paragraph 11. The bond must then be transmitted to the Treasury
Department, Division of Loans and Currency, Washington, D. C. Unless satisfactory evi
dence of qualification of the representative is already on filewith the Treasury Department, the
bond must be accompanied by a certificate (which may be a certified copy of the court order
appointing such representative) under the seal of the court, dated not more than one year
before presentation of the bond for payment, and showing the appointment and qualification
of such representative.
10. W ithout adm inistration or legal gu ard ian sh ip . — When no legal representative of the
estate of a deceased or of an incompetent registered owner has been, or is to be appointed, and
payment is desired, and it is established to the satisfaction of the Secretary of the Treasury:
(1) in the case of a deceased owner either that the value of the gross personal estate does not
exceed $2,000, or that administration of the estate is not required in the State of the decedent’s
.domicile; or (2) in the case of an incompetent owner that the value of the gross personal estate
does not exceed $2,000, and that payment is necessary for the support of the incompetent or
his dependents, payment will be made to such representative of the estate as may be recognized
by the Secretary of the Treasury. All such payments will be made in accordance with the
provisions of Department Circular 300, as amended, insofar as applicable, such provisions to be
construed in a manner consistent with the provisions of the Adjusted Compensation Payment
Act, 1936, and the provisions of these regulations. Special forms for use in such cases have
been prepared and will be furnished upon request. I n all such cases instructions should be
REGULATIONS GOVERNING ADJUSTED SERVICE BONDS OF 1945
1936
Department Circular No. 560
Public Debt Service
TREASURY DEPARTMENT,
O ffice of the Secretary ,
W ashington, Ju n e 6, 1936.
To O wners of A djusted Service B onds ,and O thers C oncerned :
The following regulations are prescribed, effective on June 15, 1936, to govern bonds of
the United States, designated “Adjusted Service Bonds of 1945”, issued to veterans in pay
ment of amounts due on Adjusted Service Certificates. The bonds are issued under the
authority and subject to the provisions of the Second Liberty Bond Act, as amended, and the
Adjusted Compensation Payment Act, 1936.
PAYMENT TO A REGISTERED OWNER
1. In order for a registered owner to obtain payment of a bond, the bond must be pre
sented at any United States post office, or transmitted to the Treasurer of the United States,
Washington, D. C., in either case with the request for payment on the back of the bond properly
executed. All signatures must be made in ink or indelible pencil.
2. Postmasters at a number of post offices (hereinafter referred to as paying offices)
throughout the country have been authorized to receive bonds presented for payment and to
issue checks in payment therefor. All other postmasters are authorized to receive bonds
presented for payment, and forward them, at the risk and expense of the United States, to a
paying office. The Treasurer of the United States is authorized to issue checks in payment of
bonds transmitted to him.
3. I f a bond is to be presented at a p a y in g office, or at a n y other post office fo r transm ittal to a
p a y in g office, the request fo r paym ent m ust be signed by the registered owner in the presence of and
m ust be certified by the postm aster or other authorized post office official at such office, who w ill
receive the bond an d issue a receipt therefor.
4. If a bond is to be transmitted to the Treasurer of the United States for payment, the
request for payment must be signed by the registered owner in the presence of and must be
certified by one of the officers authorized in paragraph 11, and thereafter the bond must be
transmitted to the Treasurer of the United States, Washington, D. C. In a foreign country,
request for payment should be executed as provided in paragraph 11 (e) and the bond for
warded to the Treasurer of the United States.
5. Special arrangements for execution of request for payment will be provided for regis
tered owners who may be inmates of any institution, information concerning which may be
obtained from the Treasury Department by the head of the institution.
The regulations also make provision for payment of the bonds in case
of the death or incompetence of the veteran to the representative of the
estate.
In case there is a legal representative, he will be recognized.
In case there is no legal representative, instructions should be requested
from the Division of Loans and Currency, Washington, D. C., before the re
quest for payment is executed or a bond submitted.
The Secretary called attention to the fact that the bonds bear interest
at the rate of 3 percent per annum from June 15, 1936 to the date of maturity
June 15, 1945, or to the date of redemption before maturity, whichever is
earlier, and that such interest will be paid with the: principal sum, provided,
however, that no interest will be paid on any bond redeemed prior to June 15,
1937.
Accordingly, if bonds are redeemed before June 15, 1937, the face amount
only will be paid.
If redeemed after June 15, 1937, the face amount m 11 be
paid, together with interest at 3 percent from June 15, 1936, to maturity or
prior redemption.
The longer bonds are held after June 15, 1937, the greater
the amount which will be payable until maturity on June 15, 1945, when the
amount to be paid on each $50 bond will be $63.50.
With respect to the delivery of the bonds, the Secretary referred to his
earlier statement in which he stated that the first mailing would be made on
June 15.
Each shipment will consist of the full complementtof $50 bonds due
a veteran, a check for any fractional amount, a copy of Treasury Department
Circular No. 560, and a transmittal letter listing the bonds and check enclosed.
Because of the magnitude of the task, he has authorized that, beginning June 5,
as shipments are ready for dispatch, they may be released, for post-office
operations prior to delivery, to the Postmasters at Washington and at Federal
He serve cities, where the bonds and checks are being prepared, in order that the
work of the Postal Service in the matter of shipments and deliveries on and after
June 15 may be facilitated.
The text of the official circular follows:
tion of the postmaster or other authorized post-office official, and if he is
not personally known he should take witnesses with him who are known, or be
otherwise prepared to establish his identity.
A number of post-offices throughout the country have been authorized to
issue checks in payment of Adjusted Service Bonds.
However, as provided in the
regulations, bonds may be presented at any post-office, and if that office is
not a paying office they will be forwarded to a paying office at the risk and
expense of the United States.
It is not necessary for a veteran to present
his bonds at a paying office; he may present them at any post-office.
Under the second method, the veteran may appear before any officer authorized
to witness requests for payment as set forth in the official circular, such
authorized officers including postmasters and the executive officers of banks and
trust companies (and their branches) incorporated in the United States, and sign
the request for payment in the presence of the witnessing officer who will then
certify thereto.
The veteran must be known to the witnessing officer, or
establish his identity to the satisfaction of that officer.
Thereafter the tend
must be transmitted to the Treasurer of the United States, Washington, D. C., at
the expense and risk of the veteran.
registered mail is suggested.
For the transmission of bonds the use of
After the receipt of such bonds by the Treasurer
of the United States, with request for payment properly executed, check will be
issued in the name of the veteran and forwarded to him by mail at the address
given in his request for payment.
The officer who witnesses the signature of a veteran to a request for pay*
ment will be held responsible for positive identification of the person request
ing payment as the person whose name appears on the face of the bond, and, if
necessary, may require witnesses to identify that person, provision for the
signatures and addresses of witnesses being made on the back of the bond.
-5^ .'“V-
T>
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, June 7, 1956.__________
6/6/36
Press Service
-rT V o
C(o
Secretary of the Treasury Morgenthau announced yesterday the issuance
of Treasury Department Circular No. 560, prescribing regulations governing
Adjusted Service Bonds to be issued on and after June 15 pursuant to the
Adjusted Compensation Payment Act, 1936, in payment of amounts due veterans
on Adjusted Service Certificates.
Adjusted Service Bonds are dated June 15, 1936, and will mature in nine
years on June 15, 1945, but will be redeemable at the option and request of
the veteran in whose name they are registered at any time before maturity.
Regulations now issued provide two methods by which a veteran may secure pay
ment, first, through presentation of the bonds to any United States Post-office,
and second, through transmittal of the bonds to the Treasurer of the United
States, Washington, D. C.
Either course may be followed, but in any case the
request for payment, appearing on the back of the bond, must be properly
executed in order to establish the identity of the owner.
By the first method the veteran may go to any post-office in the United
States, and, in the presence of the postmaster or other authorized post-office
official at that office, sign the request for payment appearing on the back
of the bond.
The postmaster, or other authorized post-office official will then
certify to the signature, and give a receipt for the bond.
Thereafter a check
on the Treasurer of the United States payable to the veteran will be forwarded
to him by mail at the address given in his request for payment.
If this method
is followed the request for payment must be executed at the post-office where
the bond is presented.
The veteran must establish his identity to the satisfac-
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Sunday. June 7, 1936,__________
6-6-36
Press'Service
No, 7-56
Secretary of the Treasury Morgenthau announced yesterday the issuance of
Treasury Department Circular No. 560, prescribing regulations governing Adjusted
Service Bonds to be issued on and after June 15 pursuant to the Adjusted Com
pensation Payment Act, 1936, in payment of amounts due veterans on Adjusted
Service Certificates,
Adjusted Service Bonds are dated June 15, 1936, and will mature in nine
years on June 15, 1945, but will be redeemable at the option and request of the
veteran in whose name they are registered at any time before maturity.
Regu
lations now issued provide two methods by which a veteran may secure payment,
first, through presentation of the bonds to any United States Post Office, and
second, through transmittal of the bonds to the Treasurer of the United States,
Washington, D. C,
Either course may be followed, but in any case the request
for payment, appearing on the back of the bond, must be properly executed in
order to establish the identity of the owner.
By the first method the veteran may go to any post office in the United
States, and, in the presence of the postmaster or other authorized post office
official.at that office, sign the request for payment appearing on the back of
the bond.
The postmaster, or other authorized post office official will then
certify to the signature, and give a receipt for the bond.
Thereafter a check
on the Treasurer of the United States payable to the veteran will be forwarded
to him by mail at the address given in his request for payment.
If this method
is followed the request for payment must be executed at the post office where
the bond is presented.
The veteran must establish his identity to the satis
faction of the postmaster or other authorized post office official, and if he is
not personally known he should take witnesses with him who are known, or be
otherwise prepared to establish his identity.
A number of post offices throughout the country have been authorized to
issue checks in payment of Adjusted Service Bonds.
However, as provided in the
retaliations, bonds may be presented at any post office, and if that office is
not a paying office they will be forwarded to a paying office at the risk and
expense of the United States,
It is not necessary for a veteran to present
his bonds at a paying office; he may present them at any post office.
Under the second method, the veteran may appear before any officer author
ized to witness requests for payment as set forth in the official circular, such
authorized officers including postmasters and the executive officers of banks and
trust companies (and their branches) incorporated in the United ¿fates, and sign
the request for payment in the presence of the witnessing officer who will then
certify thereto.
The veteran must be known to the witnessing officer, or
establish his identity to the satisfaction of that officer.
Thereafter the bond
must be transmitted to the Treasurer of the United States, Washington, D.C., at
the expense and risk of the veteran.
registered mail is suggested.
For the transmission of bonds the use of
After the receipt of such bonds by the Treasurer
of the United States, with request for payment properly executed, check will be
issued in the name of the veteran and forwarded to him by mail at the address
given in his request for payment.
The officer who witnesses the signature of a veteran to a request for pay
ment will he held responsible for positive identification of the person requesting payment as the person whose name appears on the face of the bond, and, if
necessary, may require witnesses to identify that person, provision for the
signatures and addresses of witnesses being made on the back of the bond.
The regulations also make provision for payment of the bonds in case
of the death or incompetence of the veteran to the representative of the estate.
- 3 -
In case there is a legal representative, he will he recognized.
In case there is
no legal representative, instructions should he requested from the Division of
Loans and Currency,.Washington,. D. C., before the request for payment is executed
or a "bond submitted.
Tne Secretary called attention to the fact that the bonds hear interest
at the rate of 3 percent per annum from June 15, 1936 to the date of maturity,
June 15, 1945, or to the date of redemption before maturity, whichever is
earlier, and that such interest will he paid with the principal sum, provided,
however, that no interest will he paid on any hond redeemed prior to June 15,
1937.
Accordingly, if bonds are redeemed before June 15, 1937, the face amount
only will he paid.
If redeemed after June 15, 1937, the face amount will he
paid, together with interest at 3 percent from June 15, 1936, to maturity or
prior redemption.
The longer bonds are held after June 15, 1937, the greater
the amount which will be payable until maturity on June 15, 1945, when the
amount to be paid on each $50 bond will be $63.50.
With respect to the delivery of the bonds, the Secretary referred to his
earlier.statement in which he stated that the first mailing would be made on
June 15.
Each shipment will consist o f .the full complement of $50 bonds due
a veteran, a check for any fractional amount, a copy of Treasury Department
Circular ho. 560, and a transmittal letter listing the bonds and check enclosed.
Because of the magnitude of the task, he has authorized that, beginning June 5,
as shipments are ready for dispatch, they may be released, for post office
operations prior to delivery, to the Postmasters at Washington and at Federal
Be serve cities, where the bonds and checks are being prepared, in order that the
work of the Postal Service.in the matter of shipments and deliveries on and after
June 15 may be facilitated.
The text of the official circular follows:
REGULATIONS GOVERNING ADJUSTED SERVICE BONDS OF 1945
„
. .'ÍS , N
„o.5
„„
60
Department Circular
_____
Public Debt service
TREASURY DEPARTMENT.
'
O ffice of the Secretary ,
W ashington, Ju n e 6, 1936.
To O wners of A djusted Service B onds ,and O thers C oncerned :
The following regulations are prescribed, effective on June 15, 1936, to govern bonds of
the United States, designated “Adjusted Service Bonds of 1945”, issued to veterans in pay
ment of amounts due on Adjusted Service Certificates. The bonds are issued under the
authority and subject to the provisions of the Second Liberty Bond Act, as amended, and the
Adjusted Compensation Payment Act, 1936.
PAYMENT TO A REGISTERED OWNER
l1 In order for a registered owner to obtain payment of a bond, the bond must be pre
sented at any United States post office, or transmitted to the Treasurer of the United States,
Washington, D. C., in either casé with the request for payment on the back of the bond properly
executed. All signatures must be made in ink or indelible pencil.
2. Postmasters at a number of post offices (hereinafter referred to as paying offices)
throughout the country have been authorized to receive bonds presented for payment and to
issue checks in payment therefor. All other postmasters are authorized to receive bonds
presented for payment, and forward them, at the risk and expense of the United States, to a
paying office. The Treasurer of the United States is authorized to issue checks in payment of
bonds transmitted to him.
3. I f a bond is to be presented at a p a y in g office, or at a n y other post office fo r transm ittal to a
p ayin g office, the request fo r paym ent m ust be signed by the registered owner in the presence of an d
must be certified by the postm aster or other authorized post office official at such office, who w ill
receive the bond an d issue a receipt therefor.
4. If a bond is to be transmitted to the Treasurer of the United States for payment, the
request for payment must be signed by the registered owner in the presence of and must be
certified by one of the officers authorized in paragraph 11, and thereafter the bond must be
transmitted to the Treasurer of the United States, Washington, D. C. In a foreign country,
request for payment should be executed as provided in paragraph 11 (e) and the bond for
warded to the Treasurer of the United States.
5. Special arrangements for execution of request for payment will be provided for regis
tered owners who may be inmates of any institution, information concerning which may be
obtained from the Treasury Department by the head of the institution.
2
6. Payment in all cases will be made by check drawn to the order of the registered owner,
and mailed to him at the address stated in his request for payment.
PAYMENT IN CASE OF DEATH OR INCOMPETENCE OF REGISTERED OWNER
7. In cases of death or incompetence of the registered owner, if payment is desired, it will
be made as hereinafter provided. The provisions of Department Circular 300, as amended,
will, so far as applicable, apply to such cases, all of which will be handled only by the Treasury
Department, Division of Loans and Currency, Washington, D. C.
8. W ith adm inistration.— When a legal representative of the estate of a deceased bond
owner has been duly appointed, payment will be made only to him. The request for payment
should be signed, “Estate of A, deceased, by B, executor (administrator),,, must state the
address of the representative, and must be signed in the presence of and must be certified by
one of the officers authorized in paragraph 11. The bond must then be transmitted to the
Treasury Department, Division of Loans and Currency, Washington, D. C. Unless satisfac
tory evidence of qualification of the representative is already on file with the Treasury Depart
ment, the bond must be accompanied by a certificate (which may be a certified copy of the
representative’s letter of appointment) under the seal of the court appointing such representa
tive, dated not more than six months before presentation of the bond for payment, showing
the appointment and qualification of such representative and stating that the appointment
is still in force.
9. Legal gu ard ian sh ip . — When the Treasury Department has notice that a legal repre
sentative of the estate of an incompetent bond owner has been duly appointed, payment will
be made only to such representative. If payment is desired, the request for payment should
be signed “A, incompetent, by B, guardian (conservator or committee)” and must state the
representative’s address. It must be signed in the presence of and must be certified by one
of the officers authorized in paragraph 11. The bond must then be transmitted to the Treasury
Department, Division of Loans and Currency, Washington, D. C. Unless satisfactory evi
dence of qualification of the representative is already on filewith the Treasury Department, the
bond must be accompanied by a certificate (which may be a certified copy of the court order
appointing such representative) under the seal of the court, dated not more than one year
before presentation of the bond for payment, and showing the appointment and qualification
of such representative.
10. W ithout adm inistration or legal gu ard ian sh ip . — When no legal representative of the
estate of a deceased or of an incompetent registered owner has been, or is to be appointed, and
payment is desired, and it is established to the satisfaction of the Secretary of the Treasury:
(1) in the case of a deceased owner either that the value of the gross personal estate does not
exceed $2,000, or that administration of the estate is not required in the State of the decedent’s
domicile; or (2) in the case of an incompetent owner that the value of the gross personal estate
does not exceed $2,000, and that payment is necessary for the support of the incompetent or
his dependents, payment will be made to such representative of the estate as may be recognized
by the Secretary of the Treasury. All such payments will be made in accordance with the
provisions of Department Circular 300, as amended, insofar as applicable, such provisions to be
construed in a manner consistent with the provisions of the Adjusted Compensation Payment
Act, 1936, and the provisions of these regulations. Special forms for use in such cases have
been prepared and will be furnished upon request. I n all such cases instructions should be
3
requested of the T reasu ry Departm ent, D iv isio n of L o a n s an d Currency, W ashington, D . C.,
before a request fo r paym ent is executed or a bond submitted.
OFFICERS AUTHORIZED TO CERTIFY REQUESTS FOR PAYMENT
11. The following officers are authorized to witness requests for payment and certify
thereto:
(a) Any United States postmaster, acting postmaster, inspector in charge of a post office,
or other post-office employee designated by the postmaster under authority of the Postmaster
General, under a legible imprint of a dating stamp of his post office;
(b) The officer in charge of any home, hospital, or other facility of the Veterans’ Admin
istration, but only as to patients and members actually domiciled at the station over which
the certifying officer exercises jurisdiction;
(c) Any executive officer of a bank or trust company (or branch thereof) incorporated in
the United States, its organized Territories or insular possessions, under the corporate seal of
the bank or trust company;
(d) Judges and clerks of United States courts, under the seal of the court; United States
Collectors of Customs and Internal Revenue; commanding officers of the Arm y, Navy, Marine
Corps, and Coast Guard of the United States for members of their respective establishments;
officials of the Treasury Department, who may be designated from time to time by the Secre
tary of the Treasury;
G) In a foreign country: United States diplomatic and consular representatives and
attachés, under their respective seals; managers and executive officers of foreign branches of
banks or trust companies incorporated in the United States.
12. No person authorized to certify requests for payment may certify a request signed
by himself, either in his own right or in any representative capacity.
13. Certifying officers will be held responsible for positive identification of the person
requesting payment as the person whose name appears on the face of the bond, or the person
entitled to request payment under these regulations, and, if necessary, should require witnesses
to identify that person. Provision for signatures and addresses of witnesses, and for finger
prints in exceptional cases, is made on tha back of the bond.
GENERAL PROVISIONS
14. No request for payment signed by an agent or person acting under a power of attorney,
in behalf of the registered owner or the representative of his estate, will be recognized by the
Treasury Department. In no case will any payment be made other than to the registered
owner or the representative of his estate.
15. In cases where documents are required to support a request for payment and two or
more bonds are presented at the same time, only one set of documents will be required.
TRANSMISSION OF BONDS
16. Any transmission of a bond to the Treasury Department will be at the risk and
expense of the owner. The use of registered mail is suggested.
4
LOST, STOLEN, OR DESTROYED BONDS
17. In case of loss, theft, or destruction of a bond, the Treasury Department, Division of
Loans and Currency, Washington, D. C., should be notified immediately of the serial number
of the bond and the name and address of the registered owner. Upon receipt of such notice
full information as to requirements for issuance of a duplicate will be provided. Application
for relief in such cases will be governed in general by the regulations found in Department
Circular 300, as amended. The Treasury Department should likewise be notified of the re
covery of any bond reported lost, stolen, or destroyed.
TAXATION
18. In accordance with applicable law, the bonds are exempt, both as to principal and
interest, from all taxation, except estate, inheritance, or gift taxes, 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.
AMENDMENTS
19. The Secretary of the Treasury reserves the right at any time, or from time to time,
to revoke, or amend these regulations, or to prescribe and issue supplemental or amendatory
rules and regulations governing Adjusted Service Bonds.
H E N R Y M O R G E N T H A U , Jr .,
Secretary oj the T reasu ry .
Ü .S . GOVERNMENT PRINTING OFFICE
2— 17123
Treasury ’P gp S iT O W g lT m j e o W r ^
Following the established procedure of the Treasury Depart
ment Art Projects, seven new competitions have recently been initiated«
The purposes of such competitions are, first, to secure works of art
of high quality and, second, to continue a nation-wide encouragement
of artists*
Such competitions attract the artists living in the various
regions in which they are held*
Generally, they bring forth enough
work of high quality to enable the Treasury Department not only to give
awards for the work under competition, but to make appointments for
other decorations or s c u l p t u ^ ^ i l i a | 8 n n | ^ ^ ^ 2 ^ M n » i based on the
quality of the work that the artist has submitted in competition*
With these aims in view, namely, to secure the best art
available for Federal buildings, and to encourage the artists of Amer
ica, the Treasury Department, Procurement Division, Section of Painting
and Sculpture, announces the following competitions:
No* I - Open to sculptors resident of,
or attached to, any state west of
the Mississippi*
A competition paying $3,900, to include the complete cost of
execution, for six sculptured reliefs to be installed in the Lobby of
the Santa Barbara, California, Post Office*
2
Ho# II - Open to artists resident of, or attached
to North Dakota, South Dakota, Nebraska,
Minnesota, Wisconsin, Iowa, Illinois, Ohio,
Indiana and Michigan#
Q
A competition for whieh #7,050 is to be paid, to cover the complete
cost of execution and installation of three mural groups in three Debbies of
the Decatur, Illinois, Post Office#
No* III - Open to American artists of New England#
The sum of #2,000 is to be paid to cover the complete costof exe
cution and installation of one mural in the
ie^Dobby of the Somerville,
îhusetts, Post Office#
C
No. IV -
Open to artists resident of, or attached
to New York, New Jersey and Pennsylvania#
The sum of $2,550 is to be paid, covering the complete cost of
execution and installation for two murals in the^Ptiblie iiJs6bby of the Arlington,
&ey, Post Office#
No# V
-
Open to artists resident of, or attached
to, New York, Pennsylvania and New Jersey#
The sum of $3,900, covering the complete cost of execution and in
stallation, will be paid for twelve panels in the/^Stair and^Sievator^ÎSobby
l^inghanrfcon, New York, Post Office and Court House#
No# VI -
Open to artists resident of, or attached
to Pennsylvania, New York, Delaware and New Jersey#
The sum of $5,300, covering the complete cost of execution and in
stallation, will be paid for two murals to be installed in the^^Pdblic Jtebby
t
of .the Nôfth Philadelphia, Pennsylvania, Post Office#
§«**”4 j
✓
No# VII - Open to artists attached to, or resident of,
Virginia, Maryland, Delaware, District of Columbia,
West Virginia, Kentucky, Tennessee, North Carolina,
South Carolina, Georgia, Mississippi, Alabama and
Florida.
The sum of $4,700, covering the complete cost of execution and in
stallation, will be paid for two murals to be installed on the East and West
^waDla«nf,^he Main
2
■
%
by of the Petersburg, Virginia, Post Office#
(No. 1
T h is c o m p e t it io n c l o s e s August 1 5 , 1936.
&£fc2EÌÌXXSÌX
D e t a i l e d c o n d i t i o n s are a v a i l a b l e upon i n q u i r y t o R e g in a ld D. Johns
707 A r c h i t e c t s B u i l d i n g , 5 th and F ig u e r o a S t r e e t s , Los A n g e l e s ,
Cal.
No. 2 J
This c o m p e t it io n c l o s e s XHgHX
October 1, 1936.
D e t a i l e d c o n d i t i o n s e re a v a i l a b l e upon i n q u i r y t o D a n ie l Caton
R ic h , A r t I n s t i t u t e of C h ic a g o , C h ic a g o , 1 1 1 .
A*
f^No.
This competition closes October 1, 1936. Detailed conditions are
Worcester Art Museum, Worcester, Mass.
available upon inquiry to Perry B. Cott,
•fio. 4 A
This competiti on closes September 3, 1936.
Detailed conditions
are available upon inquiry to Mrs. Alice M. Sharkey,
^Treasury Art Project, 6 East 59th street,
New York City.
This compeiition closes September 1, 1936.
are available upon inquiry to
Detailed conditions
Gordon Washburn, Albright KTKffiElffi Art Gallery,
Buffalo, N.Y.
ypggßtu&t&riikii
6
- 3
This competition closes October 1, 1936.
Detailed conditions
are available upon inquiry to Henri Marceau, Pennsylvania Museum of Art,
Philadelphia.
This competition closes September 20.
available upon inquiry to
Detailed conditions are
Section of Painting and Sculpture, Procurement
Division, Treasury Department, Washington,D.C.
y
&
~ y \s o
The "‘‘reasury Department ¿*rt Projects
today announced seven nev; competitions, x&xxxxiahiic
six for mural paintings and one for sculpturee
Pollowing the established procedure the
competitions are designed to attract artists living in the
various regions in which the buildings are located*
competitions have resulted ±n
Past,
not only in avrards for the work
under competition, but have resulted in appointments for. other
decorations or sculpture, based upon the quality of
the work that the artist has submitted in competition.
The
aims of the competitions are to secure the
best art available for federal buildings end to encourage
American artists.
The competitions are as follows:
No. 1-
Open to sculptors resident
of,
or
attached to, any state west of the Mississippi Hiver*
A
competition paying $3,900, to include the complete cost of
execution, for six sculptured reliefs to be installed in the
lobby of the Santa Barbara, California, Past Office.
(Insert 1)
I
j
TREASURY DEPARTMENT
Washington
Press Service
No, 7-57
FOR RELEASE, AFTERNOON NEWSPAPERS,
Monday, June 8, 1 9 3 6 . _________
6-6«*36
The Treasury Department Art Projects today announced seven new competitions,
six for mural paintings and one for sculpture.
Following the established procedure the competitions are designed.to attract
artists living in the various regions in which the buildings are located.
Past
competitions have resulted not only in awards for the work under competition,
but have resulted in appointments for other decorations or sculpture, based upon
the quality of the work that the artist has submitted in competition.
The aims of the competitions are to secure the best art available for
Federal buildings and to encourage American artists.
The competitions are as follows:
No. 1 - Open t<p sculptors resident of, or attached to, any State west of
the Mississippi River.
A competition paying $3,900, to include the complete cost
of execution, for six sculptured reliefs to be installed in the lobby of the
Santa Barbara, California, Post Office,
This competition closes August 15, 1936.
Detailed conditions are avail
able upon inquiry to Reginald D, Johnson,.707 Architects Building, 5th and
Figueroa Streets, Los Angeles, California.
No. 2 - Open to artists resident of, or attached to North Dakota, South
Dakota, Nebraska, Minnesota, Wisconsin, Iowa, Illinois, Ohio, Indiana and Michi
gan,
A competition for which $7 ,050 is to be paid, to cover the complete cost
of execution and installation of three mural groups in three lobbies of the
Decatur, Illinois, Post Office,
This competition closes October 1, 1936.
Detailed conditions are avail?
able upon inquiry to Daniel Caton Rich, Art Institute of Chicago, Chicago, 111,
Ho, 3 - Open to American artists of Hew England*
The sum of $2,000 is
to he paid to cover the complete cost of execution and installation of one mural
in the public lobby of the Somerville, Massachusetts, Post Office,
This competition closes October 1, 1936.
Detailed conditions are available
upon inquiry to Perry B. Cott, Worcester Art Museum, Worcester, Massachusetts.
Ho. 4 - Open to artists resident of, or attached to Hew York, Hew Jersey
and Pennsylvania.
The sum of $2,350 is to be paid, covering the complete cost
of execution and installation for two murals in the public lobby of the Arlington,
Hew Jersey, Post Office,
This competition closes September 3, 1936.
Detailed conditions are avail
able upon inquiry to Mrs. Alice M. Sharkey, Treasury Art Project, 6 East 39th
Street, Hew York City.
Ho. 5 -.Open to artists resident of, or attached to, Hew York, Pennsylvania
and Hew Jersey.
The sum of $3,900, covering the complete cost of execution and
installation, will be paid for twelve panels in the stair and elevator lobby in
the Binghamton, Hew York, Post Office and Court House.
This competition closes September 1, 1936,
Detailed conditions are avail
able upon, inquiry to Gordon Washburn, Albright Art Gallery, Buiffalo, Hi Y.
Ho. 6 -
Open to.artists resident of, or attached to Pennsylvania, Hew York
Delaware and Hew Jersey,
The sum of $5,300, covering the complete cost of execu
tion and installation, will be paid for two murals to be installed in the public
lobby of the Horth Philadelphia, Pennsylvania,.Post Office.
This competition closes October 1, 1936.
Detailed conditions are available
upon inquiry to Henri Marceau, Pennsylvania Museum of Art, Philadelphia, Pa,
Ho, 7 .-
Open to artists attached to, or resident of, Virginia, Maryland,
Delaware, District of Columbia, West Virginia, Kentucky, Tennessee, Horth
Carolina, South Carolina, Georgia, Mississippi, Alabama and Florida.
The sum
of $4,700, covering the complete cost of execution and installation, will be
Iflgll
' •
~ 3 -
paid for two murals to "be installed on the East and West walls of the main lobby
of the Petersburg, Virginia, Post Office.
This competition closes September 20.
Detailed conditions are available
upon inquiry to Section of Painting and Sculpture, Procurement Division, Treasury
Department, Washington, D. C.
— 0O0—
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
June 8, 1936
RECEIPTS OP SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended June 5, 1936:
Philadelphia.... .................................
San Francisco ..... .................. ............
Denver....... ....................... ............
Total for week ended June 5, 1936.............. ,
Total receipts through June 5, 1936................
1,271,682.94 fine ounces
963,345.86
» «
19,691.28
« »
2,254,720.08
« *»
86,505,408.38
« »
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended June 5, 1936;
Philadelphia*....................
New York .................... .,
San Francisco....................
Denver..........................
New Orleans................... ..
Seattle......... ................
Total for week ended June 5, 1936..
Total receipts through June 5, 1936
5.860.00 fine ounces
2,095.82
” »
4.662.00
» "
431.77
» «
13,049.59
112,830,550.88
«
«
«
«
RECEIPTS OF G-OLD 3Y THE MINTS AND ASSAY OFFICES:
Week ended June 5, 1936:
Imports____
Philadelphia .................. $
4,378,54
New York....................... 31,171,400.00
San Francisco............
1,273*994,79
50,127.59
Denver.........................
New Orleans.................... .......... ~ *
Seattle..... ...................-------------Total for week ended June 5, 1936.$32,499,900.92
New
__ Secondary
Domestic
$137,563,34 $
950,85
172,500.00
144,000,00
34,023,68
1,648,767.05
46,371.55
605,513.31
26,334.29
130.61
13,816.12
261.810.44
$430,608.98 $2,661,172.26
COLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended June 3...............
Received previously............
Total to June 3.... ............
Gold Coin
$
19,367.12
31,562.054.45
$31,581,421.57
Gold Certificates
$
218,100.00
108,017,440.00
$108,235,540,00
Received by Treasurer’s Office::
Week ended June 3..............
Received previously.............
Total to June 3.........
$ ----------268.256.00
$
268,256.00
$
NOTE:
Gold bans deposited with the New York Assay Office
in the amount of $200,572,69 previously reported.
$
2,300,00
2,461,120.00
2,463,420.00
TRSASTJKY DEPARTMENT
Washington
FOR RSL&ASS, MOVING NEWSPAPERS
Fr«
«
t
Tuesday. 3\ine 9« 1936*
6/8/36
Secretary of the Treasury Morgenth&u announced last evening that the tenders
for two series of Treasury bills, to be dated June 10, 1936, which were offered
on June 5, were opened at the Federal Reserve banks on June 8, 1936»
Tenders were invited for the two series to the aggregate amount of
#100,000,000, or thereabouts, and #866,440,000 was applied for, of which
#100,178,000 was accepted.
The details of the two series are as follows:
188-BA.Y TREASURY BILLS, MATURINO D g C M M R 15, 1936
For this series, which was for #50,000,000, or thereabouts, the total amount
applied for was #158,610,000, of which #50,140,000 was accepted*
The accepted
bids ranged in price from 99.916, equivalent to a rate of about 0.161 percent
per annum, to 99.896, equivalent to a rate of about 0.199 percent per annum on
a bank discount basis.
The average price of Treasury bills of this series to
be issued is 99.908 and the average rate is about 0*187 percent per annum on a
bank discount basis.
2 7 3 - M Y Y M JOTIT BILLS, MATURINO MARCH 10, 1937
Ihr this series, which m s for #50,000,000, or thereabouts, the total amount
applied for was #113,830,000, of which #50,035,000 was accepted.
The accepted
bids ranged in price fremi 99.900, equivalent to a rate of about 0.132 percent
per annum, to 99.815, equivalent to a rate of about 0.844 percent per annum, os
a bank discount basis.
accepted.
Only part of the amount bid for at the latter price was
The average price of Treasury bills of this series to be issued is
99.386 and the average rate is about 0.230 percent per annum on a bank discount
basis
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. June 9, 1936,___________
6-8-36.
Press Service
No, 7-58
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to b e -d[ated June 10, 1936, which were offered
on June 5, were opened at the Eederal Reserve hanks on June 8, 1936,
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $266,440,000, was applied for, of which
$100,175,000 was accepted.
The details of the two series are as follows:
188-DAY TREASURY BILLS, MATURING DECEMBER 15, 1936
Eor this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $152,610,000, of which $50,140,000 was accepted, #The accepted
bids ranged in price from 99,916, equivalent to a rate of about 0,161 percent
per annum, to 99,896, equivalent to a rate of about 0,199 percent per annum on
a bank discount basis.
The average price of Treasury bills of this series to
be issued is 99,902 and the average rate is about 0,187 percent per annum on a
bank discount basis,
273-DAY TREASURY BILLS, MATURING MARCH 10, 1937
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $113,830,000, of which $50,035,000 was accepted.
The accepted
bids ranged in price from 99,900, equivalent to a rate of about 0,132 percent
per annum, to 99,815, equivalent to a rate of about 0,244 percent per' annum, on
a bank discount basis.
accepted.
Only part of the amount bid for at the la,tter price was
The average price of Treasury bills of this series to be issued is
99,826 and the average rate is about 0.230 percent per annum on a bank discount
basis,
ooOoo
TREASURY DEPARTMSJT
Washington
OTT 1ASE MORNING i ©PAPERS,
lay. June 10
Press Service
1936.
7-
Secretary of the Treasury Slorgenthau today announced the final subscription and
allotment figures with respect to the current offering of 2-3/4 percent Treasury Bonds
of 1951-54 and 1-3/8 percent Treasury Notes of Series B-1941.
Subscriptions and allotments were divided among the several Federal Reserve dis
tricts and the Treasury as follows?
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
Sen Francisco
Treasury
TOTAL
2-3/4 FSRC&3T TREASURY BONDS
Total Cash
Total Exchange
Subscriptions
Subscriptions
Received
Received
(Allotted in full)
$
404,340,200
2,234,799,300
239,235,800
244,664,450
140,575,100
1C»,040,000
376,426,700
112,264,300
60,206,350
77,845,550
€3,406,950
198,264,100
1.787.700
$4,281,856,500
$ 25,001,200
588,822,200
12,167,000
11,846,400
39,186,600
10,167,000
157,923,400
19,540,400
27,556,600
34,715,500
7,140,100
18,212,400
3.851.900
$956,130,700
OF 1951-34
Total Cash
Subscriptions
Allotted
$ 60,519,300
320,938,150
37,688,300
40,564,200
24,024,800
20,334,950
65,039,650
22,941,000
U , 701,1«)
17,112,100
18,641,150
30,986,600
315.800
$670,807,150
Total
Subscriptions
Allotted
$
85,520,500
909,760,350
49,855,300
52,410,600
63,211,400
30,501,950
222,963,050
42,481,400
39,257,750
51,827,600
25,781,250
49,199,000
4.167.700
$1,626,937,850
1-3/8 PERCENT TREASURY NOTES OF SERIES B-1941
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
T re a m
L
Total Cash
Subscriptions
Received
$ 200,309,800
1,440,293,800
145,006,000
198,529,500
94,809,300
72,664,500
252,356,200
76,270,600
40,824,200
57,140,500
54,569,800
138,446,700
r6G0 ,000
$2,772/720/900
1j
st
*
&T K h
J ô Û / 06 C
Total Exchange
Subscriptions
Received
(Allotted in full)
$ 4,524,800
45,934,5«)
1,959,700
1,349,500
803,300
565,200
4,713,000
702,100
2,816,000
1,911,300
384,000
3,051,600
, . sfl.nnn
$68,735,'000
Total Cash
Subscriptions
Allotted
$ 31,169,100
217,654,300
22,264,600
30,815,200
15,199,300
12,437,400
42,066,000
14,193,900
7,167,000
10,507,200
10,043,500
21,481*000
225.000
$435,223,500
Total
Subscriptions
Allotted
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday. June 10, 1936.______
6-9—36.
Press Service
No. 7-59
Secretary of the Treasury Morgenthau. today announced the final subscription
and allotment figures with respect to the current offering of 2-3/4 percent.
Treasury Bonds of 1951-54 and 1—3/8 percent Treasury Notes of Series B—1941.
Subscriptions and allotments were divided among the several Federal Reserve
districts and the Treasury as follows:
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas‘City
Dallas
San Francisco
Treasury
TOTAL
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
2-3/4 PERCENT TREASURY BONDS
Total Cash
Total Exchange
Subscriptions Subscriptions
Received
Received
(Allotted in full)
$ 404,340,200
2,234,799,300
239,235,800
244,664,450
140,575,100
108,040,000
376,426,700
112,264,300
60,206,350
77,845,550
83,406,950
198,264,100
1.787.700
$4,281,856,500
$ 25,001,200
588,822,200
12,167,000
11,846,400
39,186,600
10,167,000
157,923,400
19,540,400
27,556,600
34,715,500
7,140,100
18,212,400
3,851.900
$956,130,700
$ 60,519,300
320,938,150
37,688,300
40,564,200
24,024,800
20,334,950
65,039,650
22,941,000
11,701,150
17,112,100
.18,641,150
30,986,600
315,800
$670,807,150
1-3/8 PERCENT TREASURY NOTES
Total Cash
Total Exchange
Subscriptions
Subscriptons
Received
Received
(Allotted in full)
$ 200,309,800
1,440,293,800
145,006,000
198,529,500
94,809,300
72,664,500
252,356,200
76,270,600
40,824,200
57,140,500
54,569,800
138,446,700
1.500.000
$2,772,720,900
$ 4,524,800
45,934,500
1,959,700
1,349,500
803,300
565,200
4,713,000
702,100
2,816,000
1,911,300
384,000
3,051,600
20.000
$68,735,000
OF 1951-54
Total Cash
Subscriptions
Allotted
Total
Subscriptions
Allotted
$
85,520,500
909,760,350
49,855,300
52,410,600
63,211,400
30,501,950
222,963,050
42,481,400
39,257,750
51,827,600
25,781,250
49,199,000
4.167.700
$1,626,937,850
OF SERIES B-1941
Total Cash
Total
Subscriptions Subscriptions
Allotted
Allotted
$ 31,169,100
217,654,300
22,264,600
30,815,200
15,199,300
12,437,400
42,066,000
14,193,900
7,167,000
10,507,200
10,043,500
21,481,000
225.000
$435,223,500
$
35,693,900
263,588,800
24,224,300
32,164,700
16,002,600
13,002,600
46,779,000
14,896,000
9,983,000
12,418,500
10,427,500
24,532,600
245.000
$503,958,500
IMPORTS 07 COMMODITIES UNDER OUOTAPPROVISIONS 07 CANADIAN TRADE AGREEMENT
During the Period January X to May 30, 1936
(Preliminary Figure»)
t
;
:
è
TOTAL IMPORTS
Percent of Guota
7R0M CANADA
Alaska
Buffalo
Chicago
Cenneotiout
Dakota
Duluth & Superior
Los Angelos
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New Tork
Oregon
Philadelphia
St* Lawrence
Vermont
Virginia
Washington
Total from Canada
PROM MEXICO
Arisona
El Paso
San Antonio
Total From Mexico
Douglas
Fir
(Bd • Ft • )
31*478,53®
11,386,092
-
-
2 0 1 ,5 3 2
37,544
1,191,842
5,576,843
2,113,944
»
Saved Timber and Lumber
1
Western 1 Mixed Fir
*
Hemlock * & Hemlock
s (Bd* Ft«) * (Bd* Ft«)
2 2 5 ,3 8 8
*
t
*
13,062,389
2,358,707
6 5 9 ,6 6 8
Total
(Bd. Ft.)
55,327,011
22«4ft
«
241,136
-
t
1
Cattle
Under 175
Pounds
(head)
20,908
40.396
Cattle 700
: . Pounds or
t
Mere
*
t
i
t
*
i
(Head)
108,203
1,837
_______69.9ft_____ _____ 2±2ft__
-
-
1 0 ,6 9 1
2 2 ,5 3 2
10
13 3
•
-
34
-
20,175
15,114,048
172
54
367
26
-
-
13,343
-
138
537
3,746
-
2,333,332
6,270,978
-
12
926
5,831^521
-
22
•
15^513
148,131
•
5 ,0 59 ,6 2 0
2 ,3 5 3
52
2,334
101
232
4,897.735
«
161.885
8.614
31,478,530
11,386,092
13,062,389
55,327,011
1 9 ,6 2 5
91,735
-
.
«
-
335
-
-
-
-
-
m
17
-
3 0 ,1 3 6
29
-
:
White or
Irish Seed
Potatoes
(Pounds)
19,40.,2 I3
________ 49.1»
19,267
741
1,35©
1 5 ,5 1 3
1 4 8 ,1 3 1
5,046
738
-
2,358,707
6 ,76 8 ,6 8 6
2 ,4 6 9
13,343
1,641,807
4 ,4 5 2 ,8 0 1
t
• (Gal.)
3,393
-
1 1 ,0 8 5 ,8 2 1
6 ,8 8 5 ,4 7 1
-
:
:
t Cream
t
*
9,444,014
40
15,103
-
a
«
-
95,064
5,072
8,228,577
«
1,438,720
5,516,245
Dairy Covs
700 Pounds
or Mere
(Head)
6
-
23
1
I3 O
1,211
•
•
4,979
m
52 ,50 0
8 6 ,7 6 0
180
1,673,825
1,258,113
144,510
1 4 ,8 5 7 ,3 7 0
m
580
-
67
m
1,244,375
86,000
1,837
5 ,0 4 6
1 9 ,4 0 4 ,2 1 3
6,067
-
731
5,855
4.546
-
•
•
«
a.
1,283
16,468
-
-
-
15 7
(Prepared by Division of Stati sties and Research, Bureau of Customs)
TREASURY DEPARTMENT
The Treasury Department today announced preliminary figures covering im
ports of commodities governed by quota provisions of the Canadian Trade Agreement during the period January 1
ing sheets:
as shorn on the accompany-
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Wednesday, June 10, 1936.
Press Service
No. 7~6'©
The Treasury Department today announced preliminary figures covering imports of
commodities governed "by quota provisions of the Canadian Trade Agreement during the
period January 1 to May 30, 1936, as shown below:
IMPORTS OE COMMODITIES UNDER QUOTA PROVISIONS OP CANADIAN TRADE AGREEMENT
During the Period January 1 to May 30, 1936
(Preliminary Figures)
TOTAL IMPORTS
Percent of quota
FROM CANADA
Alaska
Buffalo
Chicago
Connecticut
Dakota
Duluth & Superior
Los Angelos
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
FI Paso
San Antonio
Total from Mexico
Sawed Timber and
: Douglas
: Western
:
:
Fir
: Hemlock
i
:(Bd. Ft.)
(Bd. Ft.)
31,478,530
11,386,092
201,592
39,544
5,576,843
2,113,944
5,516,245
15,103
1,191,842
225,388
95,064
5,072
6,885,471
.13,343
8,228,577
— - - - —
Lumber
Mixed Fir
& Hemlock
(Bd. Ft.)
13,062,389
4,452,801
15,513
148,131
4,857,735
31,478,530
659,668
*---- ----
9,444,014
1,438,720
—
—
—
—
~
----161,885
11,386,092
(Bd. Ft.)
55,927,011
22.44
241,136
2,958,707
1,641,807
Total,
_
_
_
_
----- -
13,062,389
2,958,707
6,768,686
2,339,332
6,270,978
20,175
15,114,048
13,343
11,085,821
5,891,521
15,513
148,131
5.059.620
55,927,011
'V
-2—
Cattle
Under 175
Pounds
.
___________________ (Head)
E m IMPORTS
20,908
Percent of Quota
___ 40.3$
PROM CANADA
Alaska
Buffalo
Chicago
Connecticut
Dakota
Duluth & Superior
Los Angeles
Maine & N.H. •
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
PROM MEXICO
Arizona
El Paso
San Antonio
Total from Mexico
i Cattle 700;Dairy Cows :
:
White or
i Pounds or ;700 P0unds :Cream
:
Irish Seed
!
More
; or more
*
*
Potatoes
; (Head)
t (Head)____ :(Gal.)
i
(Pounds)
108,203
1,837
5,046
19,404,213
69.5$________9.2$
---- ----------- 43.1$
10,691
---
22,532
3,393
738
- -----
19,267
133
10
34
86,760
180
54
537
367
26
1,673,825
-
1,258,113
144,510
-----------
172
~
~
17
138
—
—
—
~
-•
2,953
2,334
130
1,211
101
19,625
8,614
91,735
67
1,837
395
157
731
1,283
6,067
5,855
4,546
16,468
-
~
—
2,469
12
-
-
~
~
52,500
~
29
3,746
30,136
741
1,350
926
22
52
232
-
~
-
23
-
1
14,857,370
580
4,979
5,046
1,244,375
86,000
19,404,213
June 8, 1936,
EXECUTIVE OEEICE
ALL BAMS:
Disbursement of bonds and checks to veterans in payment
of adjusted service certificates, as provided by the Adjusted
Compensation Payment Act, 1936, will begin on June 15. Pay
ments will involve the issuance of a large number of checks
drawn on the Treasurer of the United States* The first group
of checks will be for amounts less than $50 drawn on the
Treasurer by Federal disbursing officers and mailed direct to
veterans at their designated addresses* The second group of
checks, to be issued in connection with the redemption of
adjusted service bonds of 1945, will be in amounts of $50 or
multiples thereof, and will be in the form of Treasurer^
checks or checks drawn on the Treasurer by postmasters desig
nated fiscal agents of the United States*
In order that the veterans may receive the fullest benefit
contemplated by the Congress, and that the funds to be disbursed
may begin to flow through the channels of trade without unneces
sary delay, it is essential that cur banks throughout the
country extend all possible assistance by cashing these checks
at par upon proper identification*
I urge all bankers to extend the fullest cooperation to
the Government in the encashment of these checks promptly and
in full*
F R A MLIN D* ROOSEVELT
R e l e a s e Thursday morning
(✓/
h
L e t t e r s from jriaa: P r e s i d e n t R o o s e v e l t t o a l l banks
i n the United S t a t e s were being d is p a t c h e d t o d a y , u r g i n g the
c o - o p e r a t i o n of the banks
i n c a s h i n g "promptly and i n f u l l " ,
a l l government checks i s s u e d i n c o n n e c t io n w i t h the
Ad ju s te d Compensation Payment A c t , 19 36 .
The l e t t e r s have been d i s t r i b u t e d , through the
S e c r e t a r y o f t h e Board o f Governors o f t h e F e d e r a l Reserve
System t o the t w e lv e F e d e r a l Re se rv e Banks.
Fach F e d e r a l Reserve
Bank, in t u r n , w i l l t r a n s m it EE?dbexxia:& the l e t t e r s t o a l l banks
in i t s d i s t r i c t .
The t e x t o f the l e t t e r s i s as f o l l o w s :
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday. June 11, 1936.________
6-10-36.
Press Service
No. 7-61
Letters from President Roosevelt to all hanks in the United States were being
dispatched today,urging the cooperation of the hanks in cashing “promptly and in
full“, all government checks issued in connection with the Adjusted Compensation
Payment Act, 1936.
The letters have heen distributed, through the Secretary of the Board of
Governors of the Federal Reserve System to the twelve Federal Reserve Banks.
Each
Federal Reserve Bank, in turn, will transmit the letters to all hanks in its dis
trict.
The text of the letters is as follows:
“June 8, 1936.
EXECUTIVE OFFICE
ALL BAMS:
Disbursement of bonds and checks to veterans in payment of adjusted
service certificates, as provided by the Adjusted Compensation Payment Act,
1936, will begin on J^ne 15. Payments will involve the issuance of a
large number of checks drawn on the Treasurer of the United States. The
first group of checks will be for amounts less than $50 drawn on the
Treasurer by Federal disbursing officers and mailed direct to veterans at
their designated addresses. The second group of checks, to be issued in
connection with the redemption of adjusted service bonds of 1945, will be in
amounts of $50 or multiples.thereof, and will be in the form of Treasurer’s
checks or checks drawn on the Treasurer by postmasters designated fiscal
agents of the United States.
In order that the veterans may receive the fullest benefit contemplated
by the Congress, and that the funds to be disbursed may begin to flow through
the channels of trade without unnecessary delay, it is essential that our
banks throughout the country extend all possible assistance by cashing these
checks at par upon proper identification.
I urge all bankers to extend the fullest cooperation to the Government
in the encashment of these checks promptly and in full.
FRANKLIN D. ROOSEVELT“
Tn
1931 he became instructor in sculpture at the Cooper Union
and still serves in that capacity*He lives at 240 E. 20th street,New York City*
Henry Kreis was born in Germany,Jul£ 27,1899* After serving
an apprenticeship as a stone carver,he became a pupil of Jospph Wackerle* At this ti
he executed four lifesize figures in stone and several wood carvings for Mrs*
Bertha Krupp*
Coming to America in 1923,he worked as a stone oarver,studying
the while at the Beaux Art School of Desig?a*For several years he was assistant to
Paul Manship and C.P.Jennewein* His first important commission was to design
eight monumental figures for the International Magazine Building near Columbus
Circle,New York City*
Since then Kreis has designed the sculpture in the entrance
hall of the Educational Building in Harrisburg,Pa*, and als© twelve panels for the
Department of Justice Building, Washington,D«C#
The jury recommended for special mention the sculptures by
Albert Stewart, Bayside,Long Island, on account of their architectural fitness and
decorative quality, and the sculptures of Thomas Lo Medico,New York City, on
account of their general sculptural quality*
Among other artists singled out for commendation by the
jury,were*
v
Peterpaul Ott
Louis Slobodkin
Elliot Means
Ray Weaver
August Jaegers
Armin Scheler
Bruno Piccirilli
Hunt Diederich
Carl Schmitz
Alexander
Roy King
Hetty Beatty
Oronzio Maldarelli
Vincent Glinsky
Josephine Mather
Paul Pjelde
Kenneth Washburn
-o-
S a jjjb u g n a o
(Note t o Newspaper Cor re s p on d e n ts- A l i m i t e d number of
photographs o f the models submitted by Messrs«
Rudy and K r e i s
a re a v a i l a b l e a t xioom 289, t r e a s u r y Department.
I t should be
noted t h a t i n the e x e c u t i o n of the s c u l p t u r e s t h e r e w i l l be
such a l t e r a t i o n s as may be n e c e s s a r y to harmonize t h e
two s c u l p t u r e s . )
designs
Both ifriBTE-frTrwTt are s3mibolic. i'he ^udy model represents
Noah receiving
from the dove his message of the
subsidence of the deluge. 1he Kreis model za is entitled Mihe
Letter” and represents a mother and her child receiving a messag
from an absent member of the family.
The National sculpture competition open to all American
sculptors,recently conducted by the Treasury Department’s Section of Painting and
Sculpture, has resulted in the award of two commissions of $7,500 each to Charles
of the Bronx,New York City Post Office»The advisory jury which made these appointments
consisted of three sculptors of national reputation: Paul Manship, Edward McCartan
and Maurice Sterne, and the architect of the Bronx Post Office,Thomas Harlan Ellett#
After careful consideration of some 400 models submitted by
work submitted by a number of other competing artists,the jury also recommended that
,ppointments as they develop®
they should be given
The sculptures for the Bronx Post Office will be carved in
blocks of white marble 14’ by 4’ wide and will be installed on the facade of this
new Federal building* located on the Grand Concourse*
born in Pennsylvania,Nov*,14,1904*He started
working in stained glass in his father’s shop,later studying at the Pennsylvania
Academy of Fine Arts*He studied sculpture under Charles Grafly and Albert Laessle froi
1934 to 1928, won the Cresson Traveling Scholarships in Europe in 1927-28,spending
most of his time in Italy and France»He then opened a studio at York,Pa*,working in ^
sculpture and in stained glass*
(more)
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday,, June 12. 1936._________
6-10-36.
Press Service
No. 7-62
The National sculpture competition open to all American sculptors, recently
conducted "by the Treasury Department’s Section of Painting and Sculpture, has
resulted in the award of two commissions of $7,500 each to Charles Rudy, New York
City, and Henry Kreis, Essex, Connecticut, to execute two sculptures for the fac
ade of the Bronx, New York City Post Office.
The advisory jury which made these
appointments consisted of three sculptors of national reputation!
Paul Manship,
Edward McCartan and Maurice Sterne, and the architect of the Bronx Post Office,
Thomas Harlan Ellett.
After careful consideration of some 400 models submitted by the competing
sculptors, the jury unanimously appointed Kreis and Rudy to cooperate in executing
a harmonious pair of sculptures.
As a result of the high quality of work submitted
by a number of other competing artists, the jury also recommended that they should
be given future appointments as they develop.
The sculptures for the Bronx Post Office will be carved in blocks of white
marble 14’ by 4 ’ wide and will be installed on the facade of this new Federal
building, located on the Grand. Concourse.
Both designs are symbolic.
The Rudy model represents Noah receiving from
the dove his message of the subsidence of the deluge.
The Kreis model is
entitled nThe Letter” and represents a mother and her child receiving a message
from an absent member of the family.
Charles Rudy was born in Pennsylvania, November 14, 1904.
He started working
in stained glass in his father’s shop, later studying at the Pennsylvania Academy
of Fine Arts.
He studied sculpture under Charles Grafly and Albert Laessle from
1924to 1928, won the Cresson Traveling Scholarships in Europe in 1927-28, spending
most of his time in Italy and France.
He.then opened a studio at York, Ponna,,
working in sculpture and in stained glass.
~2~
In 1931 he became instructor in sculpture at the Copper Union.and still serves
in that capacity.
He lives at 240 East 20th Street, New York City.
Henry Kreis was horn in Germany, July 27, 1899.
After serving an apprentice
ship as a stone carver, he became a pupil of Joseph Wackerle.
At this time he
executed four life-size figures in stone and several wood Carvings for Mrs. Bertha
Krupp.
Coining to America in 1923, he v/orked as a stone carver, studying the while
at the Beaux Art School of Design.
Manship and C.P. Jennewein.
3For several years he was assistant to Paul
His first important commission was to design eight
monumental figures for the International Magazine Building near Columbus Circle,
New York City.
Since then Kreis has designed the sculpture in the entrance hall of the
Educational Building in Harrisburg, Pa., and also twelve panels for the Depart
ment of Justice Building, Washington, D.C.
The jury recommended for special mention the sculptures by Albert Stewart,
Bayside, Long Island, on account of their architectural fitness and decorative
quality, and the sculptures of Thomas Lo Medico, New York City, on account of
their general sculptural quality.
Among other artists singled out for commendation by the jury, were:
Peterpaul Ott
Elliot Means
August Jaegers
Bruno Piccirilli
Carl Schmitz
Hoy King
Oronzio Maldarelli
Vincent Glinsky
Louis Slobodkin
Ray Weaver
Armin Scheler
Hunt Diederich
Alexander Sambugnac
Hetty Beatty
Josephine Mather
Paul Ejelde
Kenneth Washburn
(Note to Newspaper correspondents-: A limited number of photographs of the
models submitted by Messrs. Rudy and Kreis are available art Room 289, Treasury
Department. It should be noted that in the execution of the sculptures there
will be such alterations as may be necessary to harmonize the two sculptures.)
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
June 15, 1936.
RECEIPTS OP SILVER BY THE MINTS AND ASSAY OPEICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended June 12, 1936:
Philadelphia.....................
San Erancisco....................
Denver ..........................
Total for week ended June 12, 1936..
Total receipts through June 12, 1936
297,502.95 fine ounces
I!
184,789,19
”
tî
10.071.15
»
II
492,363.29
11
It
86,997,771.67
»
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended June 12, 1936:
Philadelphia .................................
New York ............. .......................
San Erancisco....... ........................
Denver .......................................
New Orleans .................................
Seattle............. ........................
Total for week ended June 12, 1936 ............
Total receipts through June 12, 1936 ..........
15,664,00 fine ounces
2,394.95
w
«
1,831.00
"
"
884.10
»
"
20,774.05
112,851,324.93
»
»
»
«
RECEIPTS OE GOLD BY TEE MINTS AND ASSAY OFFICES:
Week ended June 12, 1936:
Imports
Philadelphia.................
$
8,896.58
48,399,600.00
New York.......
San Erancisco ...............
412,027.05
Denver ......................
40,514.37
New Orleans..................
243.63
Seattle .....................
............
Total for 'week ended June 12, 1936 $48,861,281.63
Secondary
$114,592.13
146,700.00
34,445.97
23,573.26
19,067.15
12.441.53
$350,820.04
New
Domestic
$
690.02
214,500.00
1,892,122.65
608,579.92
1,347.85
275.802,69
$2,993,043.13
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER' S OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended June 10.............
Received previously............
Total to June 10...............
Gold Coin
$
12,245.84
31.581,421.57
$31,593,667.41
Gold Certificates
$
317,700.00
108.235.540.00
$108,553,240.00
Received by Treasurer's Office:
Week ended June 10.............
Received previously............
Total to June 10...............
$ -----------268,256,00
$
268,256.00
$
NOTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
$
1,300.00
2.463,420.00
2,464,720.00
oomwmuL
REPORT Of JUKI 12* 1956. <M ADJUSTED SRKTOg BOND WORK
FEDERAL
M
/ESTIMATED it ® ©
m ©
i NUMBER OF RECEIVED COMPLETED
p 5 W 4^Wi4«kf
i a »
\ ..M h ^ y ^ h ?---_______
-----
BONDS
NO. OF
INSCRIBED XT2S33 DEL •
TO P. 0*
NO. OF
BONDS IN
ITEMS DEL.
TO F. 0.
BOSTON
191,000
155,626
155,006
1,776,708
155,006
1,776,708
RSW YORK
43.2,ISO
359,600
351,721
3,922,398
349,221
3,834,420
HIILAONLPHIA
140,000
116,500
113,000
1,272,140
109,400
1,230,097
CLEVELAND
239,590
212,600
195,000
2,080,200
195,000
2,080,200
ATLANTA
277,200
£18,155
216,800
1,960,216
215,350
1,948,977
CHICAGO
498,800
420,638
380,625
4,037,560
378,731
3,874,110
ST* LOUIS
127,000
106,166
105,916
1,002,322
104,366
988,729
MINNEAPOLIS
75,300
71,482
70,853
757,491
70,555
751,779
KANSAS C m
202,250
179,825
173,914
1,741,418
169,527
1,666,858
DALLAS
123,800
92,913
92,558
911,698
90,733
891,325
SAN FRANCBOO
329,250
244,521
232,061
2,578,509
220,250
2,393,631
TREAS.-IAC
901.200
719*757
641*233
7*709.353
618.375
6*628.041
2,723,687 29,750,013 2,670,514
2,897,783 ;
28,064,875
TOTAL
3,517,600
Ìs\À~r~$
|^v4^V<X.
- ___ «
^
f 4:
7.1
operations up to midnight, June 15.
The number of items delivered to the Post Office
Department at Washington, D. C *, and in each of the Federal
Reserve Bank cities in other districts, and the
number of $50 bonds iuxBXEk covered by these items, are as follows
TREASURY DEPARTMENT
Washington
Press Service
FOR RELEASE, MORNING NEWSPAPERS
bunaay,
Sunday, ,
June 14, 1956,_________
6/15/56.’
No. 7-65
The treasury Department at Washington and its
field agencies h&ve substantially exceeded original goals in
handling Adjusted Service payment claims.
envelopes,
Up to midnight Friday 2,670,.
containing 28,064,875
$50 bonds and checks for odd amounts,
had been turned over to the Post Office Department for delivery,
beginning June 15, t n -t a t a r n n r a 8
Original plans
r
v' §
called
rtioi
* * * iP S < » M ® B iS s w s » ! M B « s M 8 S ä B * S B a s s a @ s
da?p p r o x i m a t e s 2,000,000
claims
3,517,600 veterans entitled to payments«"C*
"'•JwwtML t <£T"L m
Veterans Administration actually
v * ihe
delivered approximately 3,000,000 certificates.
The Disbursing
offices in Washington D. C. and at federal Reserve Bank cities, ig
preparing checks for odd amounts have handled 2,897,783 m
certificates and have transmitted the certificates to the
Division of Loans and Currency, which prepares the bonds.
The Bureau of Engraving and r rinting yesterday complelj
its order of 37,000,000 bonds, the estimated number required.
The Bureau of Engraving and Printing has also delivered 6 ,0 00 ,CO(J
special checks,
which will be used by the ireasury and
by the 248 Post Offices authorized to issue checks in redemption®
of bonds.
A detailed report Covering the progress of all ireasur^
agencies in issuing Adjusted Service Bonds and checks in payments
of veterans1 claims will be available Tuesday, June 16, covering
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Sunday, June 14, 1936.
6713/36.
Press Service
No. 7-63
The Treasury Department at Washington and its field agencies
have substantially exceeded original goals in handling Adjusted Service
payment claims.
Up to midnight Friday 2,670,514 envelopes, containing
28,064,875
$50 bonds and checks for odd amounts, had been turned over
to the Post Office Department for delivery, as registered mail beginning
June 15. * •
Original plans called for approximately 2,000,000 claims out of
an estimated 3,517,600 veterans entitled to payments, to be handled by
June 15.
The Veterans Administration actually delivered approximately
3,000,000 certificates.
The Disbursing offices in Washington D. C. and
at Federal Reserve Bank cities, in preparing checks for odd amounts
have handled 2,897,783 certificates and have transmitted the certificates
to the Division of Loans and Currency, which prepares the bonds.
The Bureau of Engraving and Printing yesterday completed its
order of 37,000,000 bonds, the estimated number required.
The Bureau of
Engraving and Printing has also delivered 6,000,000 special checks, which
will be used by the Treasury and by the 248 Post Offices authorized to
issue checks in redemption of bonds.
A detailed report covering the progress of all Treasury agencies
in issuing Adjusted Service Bonds and checks in payment of veterans’ claim
will be available Tuesday, June 16, covering operations up to midnight,
June 15.
The number of items delivered to the Post Office Department
at Washington, D. C., and in each of the Federal Reserve Bank cities in
other districts, and the number of $50 bonds covered by these items, are
as follows:
NO. OF ITEMS
DEL. TO P. 0.
NO. OF BONDS
ITEMS DEL. TO :
BOSTON
155,006
1,776,708
NEW YORK
349,221
3,834,420
PHILADELPHIA
109,400
1,230,097
CLEVELAND
195,000
2,080,200
ATLANTA
215,350
1,948,977
CHICAGO
378,731
3,874,110
ST. LOUIS
104,366
988,729
MINNEAPOLIS
uo
LO
LO
*\
o
751,779
KANSAS CITY
169,527
1,666,858
90,733
891,325
SAN FRANCISCO
220,250
2,393,631
TREAS.-L&C
612,375
6,628,041
2,670,514
28,064,875
FEDERAL RESERVE BALK
DALLAS
TOTAL
0.
TREASURY DEPARTMENT
O F F IC E O F T H E S E C R E T A R Y
WASHINGTON
C O M M IS S IO N E R O F
ACCO U N TS A N D D E P O S IT S
May 23, 1936.
Collector of Internal Revenue,
S i r i
In connection with the payment of the June 15, 1936,
installment of income taxes, you are requested to arrange, so far
as possible, to have all checks actually placed in the hands of,
or in transit to, the Federal Reserve bank, branch bank, or other
depositary on the same day in which they are received. The Federal
Reserve banks have been requested to cooperate to the fullest extent
possible in receiving deposits of income tax checks during the heavy
tax payment period in June.
You will observe that the only Government obligations
acceptable in payment of income taxes payable on June 15, 1936, are
the 1-1/8$ Treasury notes of Series E-1S36, dated December 15, 1934,
maturing June 15, 1936.
Full instructions as to acceptance and deposit of such
Treasury notes are given in Articles 1391 and 1392 of Regulations
#69 under the Revenue Act of 1926, as amended by T. D. 4347 approved
August 9, 1932, (Par. 19, page 390, Appendix to Regulations No. 86
under the Revenue Act of 1934).
In order that the Department may have a record of your
receipt of these instructions, it will be appreciated if you will
promptly send an acknowledgment to the Commissioner of Accounts and
Deposits, Room 376, Treasury Department.
By direction of the Secretary:
Very truly yours,
M. COLLINS
Assistant Commissioner of Accounts and Deposits
l - o
-
TREASURY DEPARTMENT
O F F IC E
C O M M IS S IO N E R
OF
THE SECR ETA R Y
W A S H IN G T O N
OF
A C C O U N T S A N D D E P O S IT S
Tune 8, 1936*
TO M U
GASTON:
During the month of May* 1936, the following market transactions
took place in Government securities for investment accounts:
Total purchases *
Total sales
•
Net purchases:
• * $15,794,000
**
#15,794,000
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, June 15, 1936*
Press Service
No. 7-64
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of May, 1936, amounted to $15,794,000,
Secretary Morgenthau announced today.
ooOoo
■
TREASURY DEPARTMENT
WASHINGTON
FOR IMMEDIATE RELEASE,
Monday, June 15, 1936»
Press Service
The Treasury received today the som of $164,315*50
from the Government of Finland, representing the semi-annual
payment of interest in the amount of $145,285 under the funding
agreement of May 1, 1923, and $19r030.50 as the sixth semi
annual annuity due under the Moratorium Agreement of May 23, 1932.
This payment represents the entire amount due from the Government
of Finland and «as paid in cash through the Federal Reserve Bank of
New York.
TREASURY DEPARTMENT
Washington
jOR IMMEDIATE RELEASE,
Monday, June 15, 1936»
Press Service
Ho. 7-65
The Treasury received today the sum of $164,315.50 from the
Government of Finland, representing the semi-annual payment of
interest in the amount of $145,285 under the Funding Agreement
of May 1, 1923, and $19,030.50 as the sixth semi-annual annuity
due under the Moratorium Agreement of May 23, 1932.
This payment
represents the entire amount due from the Government of Finland
and was paid in cash through the Federal Reserve Bank of Hew York.
ooOoo
f m im m
w m m m m
wm
m
M i,
mmum
w
a
Press Servies
î w
Tassday » Jùne 1 $,
î ' b
C
Seeretary ©f tha Trmaury l&rge&timi asœooaeeà lest «v«ilB£ that tiw teaders
far te© sériés of Traasury bilia» te be dated Jmm 1?» 193ê, whleh tmre offarad en
Jfea© 18, n r » ©peaed et th© Indexai Besemre bsa&a es Jase 13» 190$,
Tendere aere isrited fer th© t m eerles te tbe aggregate amuat ef
$100»000»000» or thereeboute, «ad #850,035,000 «tee ftpplieâ fbr» ©f ©àieh
$100»030»000 æ e aeeeptad,
The détail© ©f the ta© eerlee ere ae fellemi
ffcr thie eerlee, whleh m a for $30,000,000, or tàereabouts, the total m a s t
applied fer m e 1133,383,000» ©f whleh 450,018,000 m s eeoepted.
Th© aeeepted
bidamegad la prie© froa 09«tld» équivalant t© a rat© ©f ©beat 0*1$? percent per
eeikum» t© 99*89?,
t© a rate ©f a beat 0*10$ percent per a « ,
bank discount basin*
aeeaptad*
©a ft
Qaly part of tha aaouxit bld fer et the lutter prie© «ae
Th© «Tarage prie© ©f Treaaury Mlle ©f tàle eerlee te b© lesuad le
99*904 aad th© evereg© rat© le about 0*191 percent per anaarn ©a a baafc discernât
basla.
g a r n ir
Tmmm: s e u , wsmim mmm i? *
iü
?
fbr M i eerlee» «fcieh m e fer #5ô,OOO,Oû0, or tàersabouts, the total amua*
applied fer m e #1X6,178,000, of «hleh #30,018,000 m e aeeepted,
Ifce aeaeptaâ
bide raaged la prie© fréta 99.900» équivalant to a rate ©f ©beat 0.13$ percent per
aanum, to 99*80?» équivalant te a rata of about 0*18$ permet par «tamia, ©a a
baak dlseouat teste*
aeeeptad,
Th©
Oaly part of th© amont bld for et th© lattar prie© m e
prie© of Trmsury Mlle of thie eerlee to b# lesuod le
99,81$ «ad tà© average rat© le about 0,141 percent per <® m i oa a baak diseouat
hasts
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING.NEWSPAPERS,
Tuesday« June 16, ,1936»_________
6-16-36
Press Service
No, 7-60
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated June 17, 1936, which were offered on
June 12, were opened at the Federal Reserve hanks on June 15, 1936,'
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts,, and $250,055,000 was applied for, of which
$100,030,000 was accepted.
The details of the two series are as follows?
181-DAY TREASURY BILLS, MATURING DECEMBER 15, 1936,
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for, was $133,883,000,of which $50,018,000 was accepted.
The accepted
bids ranged in price from 99fJ916, equivalent to a.rate of about 0.167 percent per
annum, to 99.897, equivalent to a, rate of about 0.205 percent per annum, on a
bank discount basis.
accepted.
Only part of the amount hid for at the latter price was
The average price of Treasury hills of this series to he issued is
99,904 and the average rate is about 0.191 percent per annum on a hank discount
basis.
273-DAY TREASURY BILLS, MATURING MARCH 17, 1937
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $116,172,000, of which $50,012,000 was accepted.
The accepted
bids ranged in price from 99,900, equivalent to a rate of about 0.132 percent per
annum, to 99,807, equivalent to a rate of about 0.255 percent per annum, on a
bank discount basis. Only part of the amount hid for at the latter price was
accepted.
The average price of Treasury hills of this series to he issued is
99,816 and the average rate is about 0.242 percent per annum on a. hank discount
basis.
ooOoo
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Wednesday, June 17, 1956________
6-16-36
Press Service
No. 7-67
Secretary of the Treasury Morgenthau today announced that up to the close
of business on June 13, the Treasury had received certifications from the
Administrator of Veterans’ Affairs of the amounts due 3.,004,782 veterans in
payment of Adjusted Service Certificates,,
j
Shipments for 2,923,760 veterans have been delivered to the Postal'' Service
for dispatch by registered mail up to midnight June 15th and the remaining
items are being handled rapidly..
The Department expects to keep on a, current
basis in preparing and mailing shipments to veterans as additional certifications
are received,.
Included in the shipments which have already been mailed are
30,636,089 Adjusted Service Bonds, each for $50 and registered in the name of
the veteran, in the aggregate total of $1,531,804,450, and chocks aggregating
$68,950,507.72, making a total value, bonds and checks, aggregating
$1,600,754,957.72.
The shipments already delivered to the Postal Service are divided among
the several Federal Reserve districts and the Treasury as follows':
District
Shipment
Boston
156,861
New York
367,519
Philadelphia
116,500
Cleveland
212,600
Atlanta
218,989
Chicago
424,080
St. Louis
108,.078
Minneapolis
71,385
Kansas City
178,768
Dallas
93,679
San Francisco
254,142
Treasury - Loans and Currency
721.159
TOTAL
2,923,760
doCoo
TREASURY DEPARTANT
Washington
MEMORANDUM FOR THE PRESS
June 22, 1936.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21,1933) as amended
Week ended June 19, 1936:
809,339.84 fine ounces
II
179,015.01 II
II
It
10,190.49
It
11
998,545.34
II
II
87,996,317.01
P h i l a d e l p h i a ......................
San Francisco .............. ^....
Denver................ ..........
Total for week ended June 19, 1936..
Total receipts through June 19, 1936
SILVER. TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9,1934)
Week ended June 19, 1936:
Philadelphia......................
New Y o r k ....... ..........,......
San Francisco ...................
Denver ...........................
New Orleans...... ...............
Seattle ...... ........
Total for week ended June 19, 1936
Total Receipts through June 19, 1936
110,386.00 fine ounces
1.677.00 "
»
2.536.00 »
»
260.63
,?
"
114,859.63
112,966,184.56
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended June 19, 1936:
Imports
Philadelphia.................
$ 3,787.07
New Y o r k .....................
55,335,200.00
San Francisco................
48.3,897.89
Denver .......................
60,392.38
New Orleans .................
- - ~
Seattle..............
7.904.27
Total for week ended June 19,1936 $55,891,131.61
Secondary
New Domestic
$177,582.66
$ 1,097.95
63,500.00
194,200.00
47,965.04 1,855,502.38
18,119.10
558,997.14
31,860,30
451.35
364,889.59
12,234.75
$351,261.85 #2,975,138.41
SOLD RECEIVED BY FEDERAL IESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended June 17,.,........,..
Received previously. ...........
Total to June 17.......
Received by Treasurer's Office:
Week ended June 17,........... .
Received previously ......
Total to June 17 ........ ........
ROTE:
Gold Coin
i.?,657.50
31,593,667.41
$¿1,601,324.91
$
$
$
—
268,256.00
268,256.00
Gold bars deposited with the New York Assa:/ Office
in the amount of $200,572.69 previously reported.
Gold Certificates
125,690.00
$
108,553,240.00
$108,678,930.00
$
$
2,100.00
2,464,720.00
2,466,820.00
TREASURY DEPARTMENT
Washington
FOR RELEASE,
W W im
Tuesday. June 23.
NEWSPAPERS,
Press Servie«
1956.____
i - t ' r
6 / 2 2 /3 6
Aeting Secretary of the Treasury Rocha announced last evening that the ten
ders for two series of Treasury hills, to he dated June 24, 1936, which were offered
on June 19, were opened at the Federal Reserve banks on June 22, 1936»
Tenders were Invited for the two series to the aggregate amount of
#100,000,000, or thereabouts, and #231,318,000 was applied for, of which
#100,058 ,000 was accepted»
The details of the two series are as follows»
174-DAY TREASURY BXÜBS» MAOTIISO
15» 1936
For this series, which was for #50,000,000, or thereabouts, the total amount
applied for was #135,202,000, of which #50,050,000 was accepted.
The accepted
bids ranged in price from 99»9S5, equivalent to a rate of about 0»134 percent par
annum, to 99*908, equivalent to a rate of about 0.190 percent per annum, on a bank
discount basis*
Only part of the amount bid for at the latter price was accepted* ]
The average price of Treasury bills of this series to be issued is 99*912 and the
average rate is about 0,183 percent per annum on a bank discount basis,
273-DAY TREASURY BUIS»
MARCH 24. 1937
For this series, which was for #50,000,000, or thereabouts, the total amount
applied for was #146,116,000, of which #50,008,000 was accepted.
Except for one
bid of #225,000 the accepted bids ranged in price from 99,830, equivalent to a rate
of about 0,224 percent per annum, to 99.811, equivalent to a rate of about 0,249
percent per annum, on a bank discount basis.
Only part of the amount bid for at
the latter price was accepted• The average price of Treasury bills of this series
to be issued is 99,818 and the average rate is about 0,240 percent per annum on
& bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, June S3, 1956.________
6/22/36.
Press Service
No. 7-68
Acting Secretary of the Treasury Roche announced last evening that the
tenders for two series of Treasury hills, to he dated June 24, 1936, which
were offered on June 19, were opened at the Federal Reserve hanks on June
22, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $281,318,000 was applied for, of which
$100,058,000 was accepted.
The details of the two series are as follows:
174-DAY TREASURY BILLS, MATURING DECEMBER 15, 1936
For this series, which was for $50,000,000, or thereabouts, the total
amount applied for was $135,202,000, of which $50,050,000 was accepted. The
accepted bids ranged in price from 99.935, equivalent to a rate of about
0.134 percent per annum, to 99.908, equivalent to a rate of about 0.190 per
cent per annum, on a bank discount basis.
at the latter price was accepted.
Only part of the amount bid for
The average price of Treasury bills of
this series to be issued is 99.912 and the average rate is about 0.183 per
cent per annum on a bank discount basis.
273-DAY TREASURY BILLS, MATURING MARCH 24, 1937
For this series, which was for $50,000,000, or thereabouts, the total
amount applied for was $146,116,000, of which $50,008,000 was accepted.
Except for one bid of $225,000 the accepted bids ranged in price from 99.830,
equivalent to a rate of about 0.224 percent per annum, to 99.811, equivalent
to a rate of about 0.249 percent per annum, on a bank discount basis.
part of the amount bid for at the latter price was accepted.
Only
The average
price of Treasury bills of this series to be issued is 99.818 and the average
rate is about 0.240 percent per annum on a bank discount basis.
— o0o-—
;
Immediate R e le a s e
The Bureau of I n t e r n a l ^evenue announced today
t h a t income t a x c o l l e c t i o n s , f o r the p e r io d June 1-2 0 ,
i n c l u s i v e , 1936,
as r e p o rte d by t e l e g r a p h by
C o l l e c t o r s o f I n t e r n a l Uevenue,
$298,505,823«56•
t o t a l l e d JSEX
i'he c o l l e c t i o n s fo r the same
p e r io d in 1935 were $ 2 4 2 ,6 8 8 ,7 7 6 .7 4 .
By d i s t r i c t s ,
the
two p e r io d s w ere as f o l l o w s :
c o l l e c t i o n s f o r th e
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, June 23, 1936»
Press Service
No.- 7— 69
The Bureau of Internal Revenue announced today that income tax collections,
for the period June 1-20, inclusive, 1936, as reported by telegraph by Collectors
of Internal Revenue, totalled $298,505,823.56.
The collections for the same
period in 1935 were $242,688,776.74.
By districts, the collections for the two periods were as follows?
Deposited
June 1-20, 1935
Alabama
Arizona
Arkansas
1st California
6th California
Colorado
Connecticut
Delaware.
Florida
Georgia
Hawai i
Idaho
1st Illinois
8th Illinois
Indiana
Iowa
Kansas
Kentucky
Loui siana
Maine
Maryland, ineluding Dist.
of Columbia
Massachusetts
Michigan
Minnesota
Mississippi
1st Missouri
6th Missouri
Montana
Nebraska
Hevada
New Hampshire
1st New Jersey
5th New Jersey
New Mexico
1st New York
$
566,698^43
116,103.48
292,941.80
7,373,722.58
6,299,840.34
1,561,431.18
4,844,849.67
5,079,895o80
1,348,100.59
1.752,078.21
856,535.64
119.980.97
18,196.205.04
1,056,458.37
3,236,826.72
1,049,515.34
740,689.40
1.865,987.72
1,359,719.65
768,975.36
5,942,569.89
10.796,800.55
12,023,609.57
2,508,646.00
152,872.37
4,280,986.71
1,677,851.88
235,888.79
800,868.59
210,436.11
524,115.86
1,422,145.02
9,638,588.49
101,550.85
3,806,035.00
Deposi ted
June 1-20, 1936
$
696,921.48
220,899.76
331,164.10
8,840,668.38
8,362,220.70
1,853,541.47
6.469,074,92
6j860,298,09
2,617,881.92
1,660,312.73
1,565,755,05
246,046,74
23,296,328,20
1,573,603.31
4,089,117,48
1,348,931,06
905,285.79
2,250,164,78
1,580,455.43
894,901.69
7,023,442,49
13,168,345,70
21,681,095.83
3,039,985,00
292,077,10
5,430,398,35
1,964,199.32
420,321,00
762,756.13
379,835,81
505,837,52
1,538,853,14
10,647,627,76
131,301.66
4,691,172.00
-2Continued
Deposited
June 1-20. 1935
2nd New Y0rk $
39,340,726.30
24,327,446.07
3rd New York
14th New York
3,566,278.76
21st New York
1,114,773.03
28th New York
4,686,800.65
3,381,265.04
North Carolina
58,617.25
North Dakota
1st Ohio
3,701,035.91
10th Ohio
1,425,659.62
11th Ohio
917,393.13
18th Ohio
5,827,616.26
2,150,153.11
Oklahoma
Oregon
439,108.02
1st Pennsylvania
12,816,603,75
12th Pennsylvania
1,184,200.96
23rd Pennsylvania
7,563,312.07
Rhode Island
1,724,990.62
Somth Carolina
421,342.46
82,354.47
South Dakota
1,661,212.63
Tennessee
2,929,895.43
1st Texas
2,480.517,41
2nd Texas
496,976,53
Utah
186,684.20
Vermont
2,557,064.73
Virginia
Washingtin, inc1,1-43,340.07
luding Alaska
1,194,090.34
West Virginia
2,536,488.05
Wisconsin
Wyoming
163,307.90
Philippine Isl
— — — — — —
ands
$242,688,776.74
TOTAL
Deoosited
June 1-20, 1936
$
44,675,190.46
27,316,187.11
4,659,757,76
1,157,335,62
4,912,568,13
3,451,882,74
88,829,60
4,468,652,25
2,129,637,24
1,057,469.34
8,653,879,61
2,632,141,85
641,235,92
13,346,239.12
1.540,402.35
9,920,840,88
2,126,277.62
485,093,29
112,849.23
1,811,587,44
3,541,312,38
2,768,013,54
320,076.57
231,422.60
2,965,752.20
1,598,325.41
1,539,594,51
2,822,621.09
190,825.81
$298,505,823.56
Comparative Statement ot Income Taxes Collected June 1 - SO, inclusive, 1935,
and lune 1 - 2 0 , 1936«
F o r m 6919-A
TREASURY DEPARTM ENT
A
In t e r n a l R e v e n u e B u r e a u
c c o u n t a n d C o l l e c t i o n s U nit
Revised June 1934
(Based on Telegraphic Reports from Collectors)
DISTRICTS
Deposited
Fune 1-20, 1935
Deposited
June 1-20, 1936
Est• Ohdeposited Est.Dndeposited
June 1-20,1935 June 1-20,1936
$
$
$
Colorado,
C onnecticut,
D elaw are,
F lo rid a,
G eorgia,
H aw aii,
Idaho,
1st Illinois,
8 th Illinois,
In d ia n a ,
Iow a,
K entucky,
M aine,
M aryland, including
D ist. of Colum bia,
M assachusetts,
M ichigan,
M innesota,
6 th M issouri,
M ontana,
N ebraska,
N evada,
New H am pshire,
1 st New Jersey,
5 th N ew Jersey,
New Mexico,
1 st N ew York,
2d New York,
3(1 New York,
14th New York,
21st New York,
28th New York,
N o rth Carolina,
N o rth D akota,
1 st Ohio,
10th Ohio,
11th Ohio,
18th Ohio,
Oklahoma,
Oregon,
1st Pennsylvania,
12th Pennsylvania,
23d Pennsylvania,
R hode Island,
South Carolina,
South D akota,
Tennessee,
1st Texas,
2d T exas,
U tah,
V erm ont,
V irginia,
W ashington, including
A laska,
W est V irginia,
W isconsin,
W yoming,
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
1,752,078.21
856,535.64
119,980.97
18,196,205.04
1,056,458.37
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
1,752,078.21
856,535*64
119,980.97
1,660,312.73
1,565,755.05
246,046.74
23,296,328.20
18,196,205*04
1,056,458.37
Clear
Clear
Clear
Clear
Clear
1,573,603.31
3,236,826.72
1,049,515*34
4,089,117.48
1,348,931.06
905,285.79
2,250,164.78
1,580,455.43
894,901.69
7,023,442.49
13,168,345.70
21,681,095.83
740,689.40
1,865,987.72
1,359,719,65
768,975.36
5,942,569.89
10,796,800.55
12,023,609.57
2,508,646.00
420,321.00
762,756.13
379,835.81
505,837,52
1,538,853.14
10,647,627.76
1,422,145.02
9,638,588.49
101,550.85
3,806,035.00
39,340,726.30
24,327,446.07
3,566,278.76
1,114,773.03
4,686,800.65
3,381,265.04
58,617.25
131,301.66
4,691,172.00
44,675,190.46
27,316,187.11
4,659,757.76
1,157,335.62
4,912,568.13
3,451,882.74
88,829.60
4,468,652.25
2,128,637.24
1,057,469.34
8,653,879.61
2,632*141.85
641,235.92
13,346,239.12
3,701,035.91
1,425,659.62
917,393.13
5,827,616.26
2,150,153.11
439,108*02
12,816,603.75
1,184,200.96
7,563,312.07
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
3,541,312.38
2,768,013.54
320,076.57
231,422.60
2,965,752.20
1,598,325.41
1,539,594.51
1,143,340.07
1,194,090.34
2,536,488.05
163,307.90
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
112,849.23
1,811,587.44
496,976.53
186,684.20
2,557,064.73
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
1,540,402.35
9,920,840.88
2,126,277.62
485,093.29
1,724,990.62
421,342.46
82,354.47
1,661,212.63
2,929,895.43
2,480,517.41
Clear
Clear
Clear
Clear
Clear
Clear
5,430,398.35
1,964,199.32
4,280,986.71
1,677,851*88
235,888,79
800,868.59
210,436.11
524,115.86
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
3,039,985.00
292,077.10
152,872.37
M ississippi,
1 st M issouri,
7,373,722.58
6,299,840*34
1,561,431.18
4,844,849.67
5,079,895.80
1,343,100.59
8,840,668.38
8,362,220.70
1,853,541.47
6,469,074.92
6,860,298.09
2,617,881.92
K ansas,
L ouisiana,
Clear
Clear
Clear
Clear
Clear
Clear
7,373,722.58
6,299,840*34
1,561,431*18
4,844,849*67
5,079,895*80
1,348,100.59
A rkansas,
1st C alifornia,
566,698.43
116,103*48
292,941.80
A rizona,
6 th C alifornia,
Clear
Clear
Clear
Clear
566,698*43
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
Clear
2,822,621.09
190,825.81
$
$
$
696,921.48
220,899.76
331,164.10
A labam a,
Total
1936
Total
1935
Clear
Clear
Clear
116,103.48
292,941.80
3,236,826.72
1,049,515.34
740,689.40
1,865,987.72
1,359,719*65
768,975.36
5,942,569.89
10,796.800.55
12,023,609.57
2,508,646.00
152,872.37
4,280,986.71
1,677,851.88
235,888.79
800,868.59
210,436.11
524,115.86
1,422,145.02
9,638,588.49
101,550.85
3,806,035*00
39,340,726.30
24,327,446.07
3,566,278.76
1,114,773.03
4,686,800.65
3,381,265.04
58,617.25
3,701,035.91
1,425,659.62
917,393.13
5,827,61$*26
2,150,153.11
439,108.02
12,816,603.75
1,184,200.96
7,563,312.07
1,724,990.62
421,342.46
82,354.47
1,661,212.63
2,929,895.43
2,480,517.41
496,976.53
186,684.20
2,557,064.73
1,143,340.07
1,194,090.34
2,536,488.05
163,307.90
i
696,921.48
220,899.76
331,164.10
8,840,668.38
8,362,220.70
1,853,541.47
6,469,074.92
6,860,298.09
2,617,881.92
1,660,312.73
1,565,755.05
246,046.74
23,296,328.20
1,573,603.31
4,089,117.48
1,348,931.06
905,285.79
2,250,164.78
1,580,455.43
894,901.69
7,023,442.49
13,168,345.70
21,681,095.83
3,039,985.00
292,077.10
5,430,398.35
1,964,199.32
420,321.00
762,756.13
379,835.81
505,837.52
1,538,853.14
10,647,627.76
131,301.66
4,691,172.00
44,675,190.46
27,316,187.11
4,659,757.76
1,157,335.62
4,912,568.13
3,451,882.74
88,829.60
4,468,652.25
2,128,637.24
1,057,469.34
8,653,879.61
2,632,141.85
641,235.92
13,346,239.12
1,540,402.35
9,920,840.88
2,126,277.62
485,093.29
112,849.23
1,811,587.44
3,541,312.38
2,768,013.54
320,076.57
231,422.60
2,965,752.20
1,598,325.41
1,539,594.51
2,822,621.09
190,825.81
Philippine Islands,
2 4 2 , 6 8 8 , 7 7 6 . 7 4
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-74,
c-l
2 0 8 -S O S .
TREASURY DEPARTMENT
Yiashing ton
Press'Service
No. 7-70
Secretary of the Treasury Henry Morgenthau, Jr*, and Postmaster General
James A, Farley today announced the selection and approval of 321 public
building projects to be paid for out of the■$60,000,000 emergency construction
fund authorized under the First Deficiency Act approved June 22, 1936*
All
funds available have been allocated, including the amount required for approved
increases in limits of cost for projects previously authorized, and the amount
reserved for 32 projects where construction is contemplated but the character and
size of the project are not yet determined.
This appropriation supplements authorization of $65,000,000 under the
Act of June 19, 1934, and $60,000,000 under the Act of August 12, 1935, for
similar purposes.
With only a very few exceptions all of the projects
selected under the authorization of June 19, 1934, have been completed or are
under contract.
The 1935 building program is proceeding expeditiously, many
of the projects being already under contract and for practically all of those
remaining plans have been completed and the construction bids will be invited
in the very near future.
Work on the projects selected under the new program will go forward
immediately.
For those cases where the acquisition of land is necessary the
Treasury Department is issuing advertisements soliciting offers of property.
For those cases where the necessary land is already owned by the Government
plans and specifications will be started immediately and it is hoped to place
a large percentage of the work under contract during the coming winter and
spring.
The projects approved are as follows:
PROJECT
PLACE
PURPOSE
Monroeville
Bay Minette
Phenix City
Prattville
Alexander City
Greensboro
Oneonta
Scottsboro
Birmingham
Agriculture
P. 0,
P. 0,
Agriculture
P. 0,
P. 0.
Agriculture
P. 0.
P.0. Ct.H. ,
Tucson
Phoenix
P,0. Ct.H., etc.
Courthouse, etc.
Improvements
Remodeling & improvement
Heber Springs
Siloan Springs
Nashville
Bardanelie
McG'ehee
Hamburg
Agriculture & P.0.
P. 0.
P. 0.
Agriculture & P.0.
13 ¡
•W:I#
P.0.
Site
Site
Site
Site
Site
Site
Colusa
Susanville
Sacramento
San Francisco
Richmond
Pacific Grove
Fresno
Tulare
Los Angeles
P. 0.
P. 0.
P, 0, Cf.K. , etc.
Parcel Post Bldg.
P. 0.
P. 0.
P. 0. Ct.H. , etc.
P. 0.
Immigration
Naturalization Station
P. 0.
P. 0,
P. 0.
P. 0.
P. 0. etc.
P. o.
P. 0. Ct.H. , etc.
Site and building
Site and building
Additional stories
Site and building
Site and building
Site and building
Site and building
Site and building
Alabam a
& P.0,
& P.0.
& P.0,
etc.
Site and building
Site and building
Site and building
Site and building
Site and building
Site and building
Site and building
Site and building
Repairs & improvements
ARIZONA
ARKANSAS
and
and
and
and
and
and
building
building
building
building
building
building
CALIFORNIA
Burbank .
Monrovia
Santa Monica
Downey
Rivorside
Brawley
San Francisco
Site and buildings
Site and building
Site and building
Building
Site and building
Site and building
Site and building
Repairs & improvements
PLACE
PURPOSE
PROJECT
Denver
Englewood
Las Animas
Gunnison
Old Customhouse
P. 0.
P. o.
P. 0.
Repairs and improvements
Site and building
Site and building
Site and building
COLORADO
COUHECTICUT
East Hartford
(Branch)
P. 0.
East Hampton
P. 0.
Hew Haven
Vfestville St ation P. 0.
P. 0«
Greenwi ch
Thomaston
P. 0.
Site and building
Extension and remodeling
Site and building
Rehoboth Beach
P. 0.
Site and building
Tampa
Jacksonville
Pensacola
Miami Beach
(Branch)
Appraisers Stores
Quarantine Station
P. 0. Ct.H., etc.
Site and building
Site and building
Demolition and new building
P. 0.
Site and building
Millen
Sylvester
Hawkinsvilie
Griffin
Wrightsville
Summerville
McRae
Cornelia
Greensboro
P. 0.
P. 0.
Site and building
Site and building
Site and building
Extension A remodeling
Site and building
Site and building
Site and building
Site and building
Site and building
Site and building
Site and building
DELAWARE
FLORIDA
GEORGIA
P. 0.
P. 0. etc.
Agriculture & P.0,
P. Ô.
P. 0.
P. 0.
Agriculture & P.0.
4
PLACE
PURPOSE
PROJECT
Kellogg
Saint Anthony
P. 0, etc*
P. 0. etc*
Site and building
Site and building
IDAHO
ILLINOIS
Chicago
Chicago
Englewood Station
Downers Grove
Rock Falls
Rushville
Morton
Eureka
Bradley
Clinton
White Hall
Virden
0 TFallon
Carmi
Chester
P. 0. Garage
Building
P.
P.
P.
P.
P.
P.
P.
P.
P.
P,
P.
P.
P.
Site and
Site and
Site and
Site and
Site and
Site and
Site and
Site and
Site and
Site and
Site and
Site and
Site.and
building
building
building
building
building
building
building
building
building
building
building
building
building
Rensselaer
Middlebury
Berne
Gas City
Rockville
Spencer
Jasper
Paoli
Liberty
P. o.
P.
P. 0.
P. O r
P. 0.
P. 0.
P. 0*
P. 0.
Agriculture & P. 0,
Site
Site
Site
Site
Site
Site
Site
Site
Site
and
and
and
and
said
and
and
and
and
building
building
building
building
building
building
building
building
building
Marion
New Hampton
Bloomfield
Nevada
Hamburg
Emmetsburg
Rock Rapids
Tipton
P*
P.
P.
P.
P.
P.
P.
P.
Site
Site
Site
Site
Site
Site
Site
Site
and
and
a$d
and
and
and
and
and
building
building
building
building
building
building
building
building
0.
0.
0.
0.
0.
0.
0.
0.
0.
o.
0.
0,
0.
INDIANA
o.
IONA
0.
0.
0.
0,.
0.
0.
0*
0.
- 5 -
PLACE
PURPOSE
PROJECT
KANSAS
0.
0.
0.
0.
0.
0.
Site
Site
Site
Site
Site
Site
and
and
and
and
and
and
building
building
building
building
building
building
Horton
Columbus
Augusta
Belleville
Anthony
Marion
P.
P.
P.
P.
P.
P.
G-reenville
Louisville
Hodgenville
Covington
Irvine
Whitesburg
Louisa
Williamsburg
p, 0*
P. 0. Ct.H..Cu.H., etc
Agriculture & P.0.
P. 0. Ct.H., etc
P. 0.
Agriculture & P.0.
Agriculture & P.0.
P. 0.
Site and building
Additional stories
Building
Site and building
Site and building
Site and building
Site and building
Site and building
New Orleans
Saint Martinville
Arcadia
Bayville
Covington
Ville Platte
Bunkie
Federal Office Bldg.
Agriculture & P.0.
Site
Site
Site
Site
Site
Site
Site
KENTUCKY
LOUISIANA
P. 0.
P. 0.
P. 0.
Agriculture & P.0.
P. 0.
and
and
and
and
and
and
and
building
building
building
building
building
building
building
MAINE
South Portland
(Branch Portland)
Fairfield
Dover-Foxcroft
P. 0.
P. 0.
P. 0.
Site and building
Site and building
Site and building
P. 0.
Site and building
MARYLAND
Pocomoke City
Towson
( Branch Baltimore)
Laurel
Bethesda
Baltimore
Site and building
P. 0,
Site and building
P. 0.
Laboratories, etc,
P. H. S.
Immigration &
Naturalization Station Repairs & improvements
- 6 -
PLACE
PURPOSE
PROJECT
Adams
Northampton
P. 0.
P. o.
Ware
Worcester
Lexington
( Branch Boston)
Rockport
Peabody
Everett
( Branch Boston)
Boston
East Boston
( Branch Boston)
Stoughton
Mansfield
Hyannis
P. 0.
Parcel Post Bldg.
Site and building
Demolition and
new building
Site and building
Tunnel and garage
P. 0.
P. C.
P. 0.
Site and building
Site and building
Site and building
P. 0.
Marine Hospital
Site and building
Site and building
P.
P.
P.
p.
Site
Site
Site
Site
MASSACHUSETTS
0,
0.
0.
0.
and
and
and
and
building
building
building
building
MICHIGAN
Detroit
Northwestern Station P. 0
Detroit
North End Station
M
0.
?. 0.
Blissfield
P. 0.
Eaton Rapids
P. 0.
Niles
P. 0.
Rockford
P. 0.
Mason
P. 0.
East Detroit
P. 0.
Traverse'. City
P. 0.
Grayling
?. 0.
Munising
?. 0.
Calumet
?. 0.
Wayne
?. 0.
Rochester
Site and building
Site and building
Site and building
Site and building
Extension & remodeling
Site and building
Site and building
Site and building
Site and .building
Site and building
Site and building
Building
Site and building
Site and building
MINNESOTA
Wabasha
Saint James
Minneapolis
W a it e Beal* Lake
Long Prairie
Morris
Grand Rapids
East Grand Forks
'
-O+ o.
P. o.
ct,»H.,
p
X •
0.
P* 0.
P. 0.
p; 0.
p. 0.
Site and building
Site and building
Remodeling
Site and building
Site and building
Sitò and building
Site and building
Site and building
PLACE
PURPOSE
PROJECT
Columbus
Ripley
Belzoni
Okolona
Porest
Picayune
Hazlehurst
P. 0. etc
P. 0.
P. 0,
Agriculture & P.O.
P. o.
P. 0.
P. 0.
Site
Site
Site
Site
Site
Site
Site
La Piata
California
Saint Joseph
P. 0.
P • 0.
P* 0, Ct.H., etc
Pleasant Hill
Mount Vernon
Salem
Paris
Charleston
Saint Louis
P. 0.
P. 0.
P. 0,
Agriculture & P.O,
P. o.
P . O . Oarage
Deer Lodge
P. 0. etc
Site and buildipg
Tecumseh
Albion
Hebron
Ogallala
?.
P.
P.
?..
Site
Site
Site
Site
Yerington
Agriculture & P.O.
Site and building
Derry
Lebanon
?. 0.
P. 0*
Site and building
Site and building
MISSISSIPPI
and
and
and
and
and
and
and
building
building
building
building
building
building
building
MISSOURI
Site and building
Site and building
Sr Additional land and
new building
Site and building
Site and building
Site and building
Site and building
Site and building
Building
MONTANA
NEBRASKA
0.
0*
0.
0.
and
and
and
and
building
building
buil ding
building
NEVADA
NEW HAMPSHIRE
8
PLACE
PURPOSE
PROJECT
P.
P.
P.
P.
P.
?.
P.
Site
Site
Site
Site
Site
Site
Site
NEW JERSEY
Haddon Heights
Cape May
•Riverton
Boonton
Linden
Newton
Pompton Lakes
N ewark
Harrison Branch
Orange
0.
0.
0.
0,
0.
0.
0.'
and
and
and
and
and
and
and
building
building
building
building
building
building
building
Short Hills
Matawan
P. 0.
P. 0.
Site and building
Additional land, extension & remodeling
Site and building
Site and building
Alamogordo
P. 0, etc.
Site and building
Rockville Centre
Forest Hills
( Branch Flushing)
New York City
( Vesey Street)
New York City
Grand Central
Station
New York City
Varick Street
Station
Larchmont
West Point
Hudson
?. 0.
Site and building
?. 0.
Site and building
Federal Office Bldg.
Additional stories
P. 0.
Remodeling
P. 0.
?. 0.
Metal Depository
P, 0. etc
Whitehall
Saint Johnsville
Ogdensburg
Fulton
Boonville
Delhi
Homer
Newark
P. 0.
?. o.
Customhouse
?. 0. etc.
?. 0.
P. 0.
?.. 0.
?. 0. etc
Painted Post
Fairport
Albion
Buffalo
Lancaster
P.
P.
P.
P.
P.
Site and building
Site and building
Building
Addit ional 1and,
tension & remodeling
Site and building
Site and building
Site and building
Extension and remodeling
Site and building
Site and building
Site and building
Additional land, extension and remodeling
Site and building
Sit e and building
Site and building
Remodeling
Site and building
?. o.
?.. 0. etc.
NEW MEXICO
NEW YORK
o.
o.
0.
0.
0.
- 9 -
NORTH
PROJECT
PLACE
PURPOSE
Greenville
Beaufort
Louisburg
Chapel Hill
P.
P.
P•
?.
Dunn
Southern Pines
Statesville
Newton
Forest City
xP • 0.
*
xD« 0.
P. 0. Ct.H., etc
x • 0.
?. 0.
Extension & remodeling
Site and building
Site and building
Additional land and
new building
Site and building
Site and building
Site and building
Site and building
Site and building
Langdon
Hettinger
P. 0.
?. 0.
Site and building
Site and building
Oxford
Tippecanoe City
Ottawa
Greenfield
Marysville
Sylvania
Wellston
Worthington
Clyde
Medina
Woodsfield
Struthers
Bridgeport
Newcornerstown
0.
•
P 0.
X •
p. o.
0.
p .
p. 0.
? .
0.
0.
P. 0.
P. 0.
P. 0.
x •
0.
P
X «
0.
?. 0.
Site
Site
Site
Site
Site
Sit e
Site
Site
Site
Site
Site
Site
Site
Site
Muskogee
Idab el
Edmond
Weatherford
Guyrnon
P.
P.
P.
P.
P.
Extenstion & remodeling
Sit e and building
Site and building
Site and building
Site and building
carolina
0. etc
0.
0.
0. etc
NORTH DAKOTA
OHIO
p
.
0 .
and
and
and
and
and
and
and
and
and
and
and
and
and
and
building
building
building
bui] ding
building
building
building
building
building
building
building
building
building
building
OKLAHOMA
0. Ct.H., etc
0.
0,
0.
0.
PURPOSE
PROJECT
Eugene
P. 0. etc
Portland
Lakeview
P. 0. etc.
P. 0.
Demolition and
new building
Additional stories
Site and building
Philadelphia
Drexel Kill
Morrisville
Lititz
Wilkes-Barre
Kingston Branch
Mount Carmel
Reading
TT
U .
PLACE
OREGON
PENNSYLVANIA
Tunkhannock
Coudersport
Everett
Northampton
Curwensville
Meyersdale
California
Letrobe
Erie .
Coraopolis
0 .
P.
TD
0 .
0 .
P
0 .
T>
x 0
0 .
p
0 .
p .
p.
p
p.
0 .
0 .
0 .
x
v>•
0 .
m
0 .
•
P 0.
P. 0 .
Courthouse
p
Additional vault facilitie
Site and building
Site and building
Site and building
Site and building
S. Mint
P ,
0 .
Site and building
Additional land and new
bldg, or site and bldg.
Site and building
Site and bui1ding
Site and building
Site and building
Site and building
Site and building
Site ana building
Site and building
etc.Demolition and
new building
Site and building
RHODE ISLAND
Providence
0. Ct.K.etc
Repairs & improvements
SOUTH CAROLINA
Summerville
Greenwood
Chesterfield
Kingstree
p. 0.
Site and building
T>. 0. Ct.E.etc Not determined
Agriculture & PJO-Site and building
p, 0.
Site and building
11
-
PLACE
PURPOSE
PROJECT
Webster
Sturgis
P. 0.
P. 0.
Site and Dui 1ding
Site and Lui1ding
G-reeneville
Clinton
Dayton
CroSeville
Waverly
Extension & remodeling
P.0. Ct.H.etc.
Site and "building
P. 0.
Site
and "building
P. 0.
Site
and
"building
P. 0.
Agriculture &
Site and "building
P. 0.
Site
and building
P. 0.
Site
and building
P. 0.
Additional
facilities
Marine Ho so i tal.
SOUTH DAKOTA
TEHEES SEE
Lexington
Rinley
Hem-phi s
TEXAS
-
Linden
Agriculture &
P . 0.
P. Ö.
.P. o.
p;. o.
P. 0.Ct.H.etc
P. 0.
P. 0.
Helper
P. 0. etc
Site and building
Northfield
P. 0.
Site and building
•
o
P. 0.
Center
Kilgore
Groesbeck
Rusk
Houston
fa
El Camuo
Liart
Alice
Edinburg
R anger
Amarillo
Lame sa.
Ballinger
Site and building
Site and building
Site and building
Site and building
Site and building
Demolition and
.new building Site and building
Site and building
Site and building
Site and building
Site and building
Site and building
Site and building.
Site and building
Federal Office
Bldg.
*.
P.
?.
?.
0.
0.
0.
0.
UTAH
VERMONT
;
12
-
PLACE
PURPOSE
PROJECT
Fortress Monroe
Quarantine
Station
Site and "buildings
Richmond
West End Station
Covington
Luray
Arlington
Aop a lachia
P.
P.
?.
P.
P.
Site and "building
Extension & remodeling
Site and "building
Site and building
Site and building
Seattle
Shelton
Toppenish
Colville
Ct. K. etc*
?. 0.
P. 0.
P. 0.
VIRGINIA
o..
0.
0.
0.
0.
WASHINGTON
Site
Site
Site
Site
and
and
and
and
building
building
building
building
.Si^e
Site
Site
Site
Site
Site
and
and
and
and
and
and
building
building
building
bull da ng
building
building
WEST VIRGINIA
Hollidays Cove
Fayetteville
Saint Marys
Lewisburg
Marlinton
Saint Albans
P.
?.
?.
P.
.P.
P.
0.
0.
0.
0.
0.
0.
WISCONSIN
Janesville
Stoughton
Reedsburg
Milwaukee
Station C
Hartford
Shawano
Kewaunee
1'Ieillsville
Medford
P. 0. etc.
P. 0.
P. 0.
Site and building
Site and building
Site and building
P.
P.
P.
?.
P.
P.
Site
Site
Site
Site*
Site
Site
Powell
P. 0. etc.
0.
0.
0.
0.
0.
0.
and
and
and
and
and
and
building
building
building
building
building
building
Site and building
•* 13 ~
ALASKA
PLACE
PURPOSE
Sitka
P.O.Ct.H. etc
Lihue
P. 0
PROJECT
Building
HAWAII
Site and building
ALL STATES
Eor minor construction and mechanical equipment projects, including
repairs, alterations and improvements to Eederal buildings through
out the country.
BORDER INSPECTION BUILDINGS
For inspection buildings located on the Canadian and Mexican borders
for the Customs and Immigration Services.
— 0O 0—
Mr. C l a r k , who w' 1 1 e x e cu te a mural a t Newark, i s one of
the younger American p a i n t e r s who has s p e c i a l i z e d
ua
in mural painting,
steadying f r e s c o under L o u is R u b en stein and R ico Le Brun. Mr.
Ku/v^^w ho w i l l e x e c u te the Jackson, M i s s . , m ural,
S im k h o v itch , a n a t u r a l i z e d c i t i z e n a has s tu d ie d both in the
U n ited S t a t e s and ab road . In 1932 he was awarded the Norman Waite
H a r r is Bronze Medal and **300 by the A r t I n s t i t u t e of C h ic a g o . He was
a l s o a p r i z e w-inner a t the ««oreester A r t Academy and is represented
in the Whitney Museum of A m e r i c a n Ar t and in a number of p r ivate
c o lle c tio n s .
(Note t o
News S e r v i c e s and C o rre sp o n d e n ts-
A lim it e d
su p p ly of pliotograph^s d e p i c t i n g th e d e s ig n s f o r the J u s t i c e Departmej
B u il d in g m urals i s a v a i l a b l e a t Room 289, T re a su ry Department)
While thr-. i r_.p.I 1 1 q1 •
M&ed*© as the r e s u l t of sprai th e q u a l it y of
t h e i r work, a s shown in th e J u s t i c e Department c o m p e titio n ,
th e y w i l l be asked t o make new d e s ig n e r t o correspon d w ith
space req u irem en ts a t Jackson and Newark.
Mr. ^ a l l a t o r i s a n a t i v e of P o r t la n d , Ore * pe f i r s t
s tu d ie d p a in t in g and s c u lp t u r e a t the U n i v e r s i t y of Oregon, l a t e r
e n t e r in g the Y a le S ch o o l o f Pine A r t s and r e c e i v i n g the degree of
B a c h e lo r o f F in e A r t s t h e r e . In 1934, under the P u b lid Works of
Art
P r o j e c t , the a r t i s t , w ith a number of a s s i s t a n t s , executed a
s e v e n -p a n e l mural ,for t h e . Nathan B a le Scho ol in ^ew Haven.
In 193
Mr. S 'a l l e t o r completed a mural f o r th e F r a n k l in High S c h o o l, Portl
O re .
Mr. B is tra m , born in Hungary, came to the U n ited S t a t e s
a t the age o f e le v e n and was n a t u r a l i z e d upon r e a c h in g h i s
m a j o r i t y . Be s tu d ie d a r t in n ig h t c l a s s e s o f th e N a tio n a l
Academy, Cooper Union and New York S ch o o l of - in e and Applied
A r t . A f t e r o p e r a t i n g a large art
s e rvice he w as a p p o i n t e d Associate
In 1931 he won
I n s t r u c t o r a t th e New York S ch o ol of Fine and A p p l i e d A r t .
the Guggenheim Fellowship awards*
fo r
stu d y of f r e s c o abroad
and th e f o l l o w i n g y e a r founded the ^aos (New Mexico) S ch o ol of Art
n a tiv e of
Mr, Shim in, toBxnxin A strak h an , i s a ls o a f o r e i g n bom
c itiz e n ,
coming t o the U nited S t a t e s a t the age o f t@n.
Supplem ent
h i s s t u d i e s of moderns end old m a ste rs in v a rio u s museums and
in t h i s co u n try
p r i v a t e c o l l e c t io n s
and two y e a r s in the s t u d io o f George Buks
he v e n t t o x‘ ranee aud S-0a in in 192-9 to s tu d y the works of Hi G reco J
Goya and o th e rs
r ' »
Selection of three artists to execute a series of
panels in the Justice Department Building at Washington, D . C.
was announced t o d a y s by the Treasury Department.
The selections were made as
the result of
LS
a c omp e t it i on j j w
i
/
g
g
e
n
t
e
r
tC "Contemporary Justice in
Relation to Man, to the Woman and
to the Child."
The three artists xfera selected to execute the
murals, and the titles ...given by them to their designs, are: .
John R. ;B all at or, Portland,
ur e *, "A Phase of Just
Vision and Technique.*”
Emil Bistram, T a o s ,. ^ e w Mexico,
”W’Oman Emancipated
Through Justice.”
S y m e o n Shimin, N e w York City,
"Justice.”
The selections w e r e recommended by the
Advisory Jury on Painters,
La Farge,
consisting of Leon Kroll, Bancel
Jonas Lie, Ernest Peixotto, H e n r y Schnakenberg and
Following .-further study of the designs by the Section of Painting
end Sculpture and the Supervising Architeefts office the recommen
li
ations of the jury were indorsed by the Director of Procurement.
Also as the result of the recommendations of the
Advisory Jury,
two other competitors in the Justice Department
competition, Simkha Simkhovitch of wreenv.ich, Conn., and Tanner
M. Clark of Somerville, N. J.,
have been appointed to execute
m u r a l s in Jackson, M i s s *, and N e w a r k > N • J<
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday« June 28, 1936«_________ _
6-25-36.
Press Service
Selection of three artists to execute a series of panels in the Justice Depart
ment Building at Washington, D.O. was announced tod,ay by the Treasury Department.
The selections were made as the result of a competition which had as its
general subject matter "Contemporary Justice in Relation to Man, to the Woman and
to the Child."
The three artists selected to execute the murals, and the titles given by
them to their designs, are:
John R. Ball a tor, Portland, Ore.., rtA Phase of Justice; Vision and Technique.11
Emil Bisttrain, Taos, New Mexico, ,fWoman Emancipated Through Justice.11
Symeon Shimin, New York City, "Justice.1*
The selections were recommended by the Advisory Jury on Painters, consisting
of Leon Kroll, Bancel LaEarge, Jona.s Lie, Ernest Peixotto, Henry SchnakenDerg and
Eugene Speicher.
Following further study of the designs by the Section of Painting
and Sculpture and the Supervising Architects office, the recommendations of the
jury were indorsed by the Director of Procurement.
Also as the result of the recommendations of the Advisory Jury, two other
competitors in the Justice Department competition, Simkha Simkhovitch of Greenwich,
Conn., and Tanner M. Clark of Somerville, N.J., have been appointed, respectively,
to execute murals in Jackson, Miss., and Newark, N.J#
While selected as the result of the quality of their work, as shown in the
Justice Department competition, they wi$.l be asked to make new designs to corres
pond with space requirements at Jackson and Newark.
-2-
\
Mr* Ballator is a native of Portland, Ore.
He first studied painting and
sculpture at the University of Oregon, later entering the Yale School of Fine Arts
and receiving the degree of Bachelor of Fine Arts there..
In 1934, under the Pub
lic Works of Art Project, the artist, with a number of assistants, executed a
seven-panel mural for the Hathan Hale School in Hew Haven.
In 1935 Mr*. Ballator
completed a mural for the Franklin High School, Portland, Oregon.
Mr. Bisttram, born In Hungary, came to the United States at the age of eleven
and was naturalized upon reaching his majority.
He studied art in night classes
of the Hational Academy-, Cooper Union and Hew York School of Fine and Applied
Art.
After operating a large art service he was appointed Associate Instructor
at the Hew York School of Fine and Applied Art.
In 1931 he won the Guggenheim
Fellowship award for study of fresco abroad and. the following year founded the
Taos (Hew Mexico) School of Art.
Mr. Shimin, native of Astrakhan, is also a foreign born citizen, coming to
the United States at the age of ten.
Supplementing his studies of moderns and
old masters in various museums and private collections in this country and two
years in the studio of George Luks, he .went to France and Spain in 1929 to study
the.works of El Greco, Goya and others.
Mr. Claris, who will execute a mural at Hewark, is one of the younger American
painters who has specialized in mural painting, studying fresco under Louis Rubenstein and Rico LeBrun.
Mr. Simkhovitch, a naturalized citizen, born in Ru ssia,
who will execute the Jackson, Miss., mural, has studied both in the United States
and abroad.
In 1932 he was awarded the Horman Waite Harris Bronze Medal and $300
by the Art Institute of Chicago.
He was also a prize winner at the Worcester Art
Academy and is represented in the Whitney Museum of American
Art and in a number
of private collections-.
ooOoo
(Hote to Hews Services and Correspondents:- A limited supply of photographs
depicting the designs for the Justice Department Building murals is available
at Room 289, Treasury Department)
«1 am among those who delight
in a well planned community display of fireworks and I hope that the
time is not far distant when such potentially dangerous explosives will
be handled entirely and exclusively by experts.“
O-s d %
nI feel that the time has come to halt
avoidable accidents.
However, wath many intereety
1invalved"’tt’>‘wt±3rM-bejayneecssary i%TA“enact
k ft i
&
(h
-m .
C
.
QT
peaily adequate legislation^whereby rthe ever growing demand for a saner
V
iMJLJvws
/
and safer Fourth^©a»-'
i
be"-®BEfcgLi^ffective ^J^blic sentiment
qr^Ui-fied by
certainly^decrease if not eliminate the annual blight. If, despite the
warning here given, some one is burned or injured by fireworks or other
accessories, medical attention should be «e^i^^EiMnediately, for such
injuries are particularly dangerous.”
£tas Children ranging from eleven to 15 years of age are more apt to
sustain injuries, it is indicated from a survey made last year when more than 1,300
in this category suffered from Independence Day celebrations# Children from six to
ten years contributed nearly 1,200 to the total casualty list, while there were
232 below the age ifi^six on the casualty roll#
Nearly one third of the accidents occurred in the s treats* ■***+*» y}ie
throwing of firecrackers caused injuries to nearly 2,000 while more than 1,800
were injured by holding firecrackers and other explosives in their hands#
n - 1 3 0
Community display of fireworks rather than the individual or backyard
variety as a sane way for Fourth of July celebrations*
suggested today by Dr#
Thomas Parran, Surgeon General of the Public Health Service* as he cited the
appalling death and accident record of last year»
At the same time the chief of the U.S.Public Health Service
cautioned
parents* adults and local officials to take no chance on the dangers of blood
poisoning* lockjaw or kindred complications which frequently follow seemingly
innocent injurienf rom firecrackers and fireworks»
"Within a few days", said
Parran, "an army of well meaning
experimenters of various ages will seek the experience of discharging fire'
works and oatonm-bly celebrating an important national holiday, the Fourth
of July.
qwpBMiiiiiitoiríTng
That this experimentation may
lead to sudden and unexpected disaster^ is too often
overlooked by the celebrants
officials.
their parents and local governing
Yet» it is known, as the result of careful record keeping, that
many injuries, permanent disfigurements and
0 oonoldwwftblo-numberjsi* deaths
are directly attributable to fireworks accidents each year.*
"Last year, and the record is far from complete, at least 7,738 persons
were injured and 30 were killed during the celebration of the Fourth of July
with fireworks, bonfires, and accessory diversions.
A study made by the
American Museum of Safety in New York City of 3,000 injuries from fireworks
disclosed that 2,800 required medical attention and that 2,500 were sufficient
ly severe to require hospital treatment.
In 24 instances there was loss of
one eye, not to mention 104 other serious eye injuries.#
"It is surprising to learn that these injuries occurred as long as two
weeks before and two weeks after the Fourth of July and that many small
children, too young to know the significance of the celebration, were among
the victims.
The reprehensible and growing practice of throwing fireworks
at persons should be M
m
suppressed.^
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday. June 28, 1936._________
Press Service
No, 7-72
6-25-36.
Community display of fireworks rather than the individual or "backyard variety
as a sane way for Fourth of July celebrations were suggested today by Dr. Thomas
Parran, Surgeon General of the Public Health Service, as he cited the appalling
death and accident record of last year.
At the same time the chief of the U.S. Public Health Service cautioned parents
adults and local officials to take no chance on the dangers of blood poisoning,
lockjaw or kindred complications which frequently follow seemingly innocent
injuries from firecrackers and. fireworks.
’’Within a few days”, said Dr. Parran, ”an army of well meaning experimentors
of various ages will seek the experience of discharging fireworks and otherwise
celebrating an important national holiday, the Fourth of July.
That this experimen
tation may lead to sudden and unexpected disaster is too often overlooked by the
celebrants, their parents and local governing officials*
Yet it is known, as the
result of careful recordkeeping, that many injuries, permanent disfigurements
and
innumerable
deaths are directly attributable to fireworks accidents each
year.
’’Last year, and the record is far from complete, at least 7,738 persons were
injured and 30 v^ere killed during the celebration of the Fourth of July with fire
works, bonfires, and accessory diversions.
A study made by the American Museum
of Safety in New York City of 3,000 injuries from fireworks disclosed that 2,800
required medical attention and that 2,500 were sufficiently severe to require
hospital treatment.
In 24 instances there was loss of one eye, not to mention 104
other serious eye injuries.
»ft is surprising to learn that these injuries occurred as long as two weeks
before and two weeks after the Fourth of July* and that many small children, too
young to know the significance of the celebration, were among the victims.
The
reprehensible and growing practice of throwing fireworks at persons should be
suppressed*
,fI am among those who delight in a well planned community display of fire
works and I hope that the time is not far distant when such potentially dangerous
explosives will be handled entirely and exclusively by experts.
111
feel that the time has come to halt all avoidable accidents.
adequate legislation will
However,
be required to make effective the ever growing demand
for a saner and safer Fourth.
Meanwhile, public sentiment certainly can decrease
if not eliminate the annual blight.
If, despite the warning here given, some one
is burned or injured by fireworks or other accessories, medical attention should
be obtained immediately, for such injuries are particularly dangerous*w
Children ranging from eleven to 15 years of age are more apt to sustain
injuries, it is indicated from a survey made last year when more than 1,300
in this category suffered from Independence Day celebrations.
Children from six
to ten years contributed nearly 1,200 to the total casualty list, while there
were 232 below the age of six on the casualty roll.
Nearly one third of the accidents occurredin the streets.
The throwing of
firecrackers caused injuries to nearly 2,000 while more than 1,800 were injured
by holding firecrackers and other explosives in their hands.
ooOoo
TREASURY DEPARTI,SET
Washington
FOR IMMEDIATE RELEASE ’
Thursday, June 25, 1936.
Press Service
No. 7-73
Secretary Morgenthau will deliver a radio address at 10:15 P.M.,
Eastern Standard Time> Wednesday, July 1, in which he will summarize
the fiscal operations of the Government for the fiscal year 1936^ ending
June 30.
His address m i l be broadcast over national hook-upscdf .both
the Rational Broadcasting Company and the Columbia Broadcasting System.
-oOo-
Table 1.— Corporation returns
W
Industrial groups
Agriculture and related industries ....
Mining and quarrying................. .
1
Manufac turing:
Food] and kindred products. .•.........
r•
,.
, non-alçoholic)
Liqiors and beverages (alcoholic and/
Tobacco products •.. •......
Textiles and thsAr products .
Leather and iis manufactures
Rubber products ......... ...........
Forest products ..... .............. .
Paper, pulp, and products ............
Printing, publish ing and allied
industr ies .............. .........
Chemicals and allied products ........
Stone,, c lay and glass products ......
'W
Metal and its products ............. .
Manufacturing ^»..t-
A
A
Total manufacturing
Construction .............. ...........
Transportation and other public utilities
Trade ...................................
Service— Professional, amusements,
hotels, etc..... .....................
Finance— Banking, insurance, real estate,
holding companies, stock and bond
brokers, etc.................. .
Nature of business not given ...........
Grand total
Summary for preceding years:
1933 .............
1932 ..... .......
1931 ............
1930 ............
1929 ....... .
1928 .......... ..
***Ï927 777777... 77r
1926 ........... .
1925 ............
1924 ........... .
*
\
■ !
M m
For m
I'P-i -*•*.x-plaKatS ons ,
V
j
iH
¡
¡RJ
Hü
WKf
Zj Grosui income corresponds to total income
3/
-
for 1934 returns, minus interest receivi-Rj
Rl
Revised figures.
'
ifor 1934, by H H
industrial g roups and by returns with net income, and no net income, showing number of returns, gross income, net income or deficit, income tax,
f
* excess-profits tax and total tax; also number of returns for inactive corporations, a nd totals for preceding years ^
4,4 A-»■&* ISfa
f
'yfâj/àÊ
\
i
----— >(Money figures in thousands of dollars)
(Returns filed to Dec* 31, 1935)
M
Net
Income
income
^ax
Gross
Humber
r
income^/
Excess-profits -ITotal m
* 76 4¿7
*3ô 57L>
4 118
SO
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Returns showing net income
2 0b4
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jl4, face of return) plus cost of goods sold and cost of operations (items 2 and 5) and,
^certain obligations of the United States and its instrumentalities (item 11).
4K
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other limitations of the data are noted, and. there are also presented,
supplementary.tables which will permit closer comparison of the 1933
and 1934 data by industrial groups.
net income and from the statutory net deficit.
at present available for 1934.
These items are not
In 1933 the items "Dividends from do
mestic corporations" and "Interest on tax-exenpt obligations" combined
amounted to $594,374,000 for corporations reporting net income and
$1,022,921,000 for corporations reporting no net income.^The total
income and excess-profits tax liability amounted to $594,334,000 as
against $423,068,000 for the preceding year, an increase of $171,266,000,
or 40.48 percent. / If these items were added as is done in determining
the compiled net profit and the compiled net deficit, the net profit
would be substantially greater and the net deficit substantially smaller
than is shown on the basis of the statutory items.
Detailed figures by indus trial groups for 1934 and summary figures
for the preceding years are shown in the table below.
The returns filed for 1934 are the first filed under the provisions
of the Devenue Act of 1934 and reflect the breakup of the consolidated
returns for corporations other than railroads.
Therefore, the informa
tion presented is not strictly comparable to the corresponding data
published in the Statistics of Income for 1933 and earlier years, because
in 1934 the breakup of the consolidated returns resulted frequently in
the classification of the separate returns in different industrial di
visions than the ones in which they were included in prior years as
components of consolidated returns.
In the Preliminary Deport, Sta
tistics of Income, compiled from corporation income tax returns for 1934,
Ci
'*2^1
} <'
TREASURY DEPARTMENT
Washington
^
7-7
Secretary of the Treasury Morgenthau today made public a prelimi
nary report of Statistics of Income compiled from corporation income
tax returns for 1934 filed to December 31, 1935, prepared under the
direction of Commissioner of Internal Revenue Guy T. Helvering. ^Data
are presented for 528,882 returns filed hy corporations comprising
145,089 with net income, 324,671 with no net income, and 59,122 for
porations amounted to $100,134,350,000 as against $83,642,421,000 for /^3
the nreppr^rg ¡7/aQ'°-i an increase of $16,491,929,000 or 19.72 percent.
The statutory net income of corporations reporting net income amounted
to $4,264,917,000 as against $2,985,972,000, an increase of
$1,278,945,000 or 42.83 percent.
The statutory net deficit of corpora
tions reporting no net income amounted to $4,150,694,000 as against
$5,533,339,000, a decrease of $1,382,645,000, or 24.99 percent.
The
statutory net income of corporations reporting net income exceeded the
statutory net deficit of corporations reporting no net income hy
$114,223,000, whereas for the preceding year the statutory net deficit
reported hy corporations with no net income exceeded the statutory net
income of corporations reporting statutory net income hy $2,547,367,000.
S
should he noted that dividends received from domestic corporations
and interest on tax-exempt obligations are excluded from the statutory
La )
inactive corporations. /The aggregate gross income reported hy all cor
i
"■
■
.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday. June 39» 1936.__________
6—26—36.
Press Service
No. 7-74
Secretary of the Treasury Morgenthau today made public a preliminary report of
Statistics of Income compiled from corporation income tax returns for 1934 filed to
December
31, 1935, prepared under the direction of Commissioner of Internal Revenue
Guy T. Helvering.
Data are presented for 528,882 returns filed by corporations comprising
145,089 with net income, 324,671 with no net income, and 59,122 for inactive
corpor cXtions.
The aggregate gross income reported by all corporations amounted to
$100,134,350,000 as against $83,642,421,000 for 1933, an increase of $16,491,929,000
or 19.72 per cent.
The statutory net income of corporations reporting net income
amounted to $4,264,917,000 as against $2,985,972,000, an increase of $1,278,945,000
or 42.83 per cent.
The statutory net deficit of corporations reporting no net
income amounted to $4,150,694,000 as against $5,533,339,000, a decrease of
$1,382,645,000, or 24.99 per cent.
The statutory net income of corporations
reporting net income exceeded the statutory net deficit of corporations reporting
no net income by $114,223,000, whereas for the preceding year the statutory net
deficit reported by corporations with no net income exceeded the statutory net
income of corporations reporting statutory net income by $2,547,367,000.
It should be noted that dividends received from domestic corporations and
interest on tax-exempt obligations are excluded from the statutory net income and
from the statutory net deficit.
These items are not at present available for 1934.
In 1933 the items ’’Dividends from domestic corporations” and ’’Interest on taxexempt obligations” combined amounted to $594,374,000 for corporations reporting
net income and $1,022,921,000 for corporations reporting no net income.-
If these
items were added as is done in determining the compiled net profit and the com
piled net deficit, the net prof it. 7/oul d he substantially greater and the net
deficit substantially smaller than is shown on the basis of the statutory items*
The total income and excess-profits tax liability amounted to $594,334,000 as
1' I’
against $423*068,000 for the preceding year, an increase of $171,266,000, or 40.48
per dent* ^
Detailed figures by industrial groups for 1934 and summary figures for the
preceding years are shown in the table below.
The returns filed for 1934 are the first filed under the provisions of the
Revenue Act of 1934 and reflect the breakup of the consolidated returns for
corporations other than railroads.
Therefore, the informâtion presented is not
strictly comparable to the corresponding data published in the Statistics of
Income for 1933 and earlier years, because in 1934 the breakup of the consolidated
returns resulted frequently in the classification of the separate returns in
different industrial divisions than the ones in which they were included in prior
years as components of consolidated returns.
In the Preliminary Report, Statis
tics of Income, compiled from corporation income tax returns for 1934, other
limitations of the data are noted and there are also presented supplementary
tables.which will permit closer comparison of the 1933 and 1934 data by industrial
groups
\
t
Table 1,— Corporation returns for 1934, by industrial groups and by returns with net income and no net income, showing number of returns, gross income, net income or deficit, income tax,
excess-profits tax and total tax; also number of returns for inactive corporations, and totals for preceding years
(Money figures in thousands of dollars)
(Returns filed to Dec. 31, 1935)
\
Returns showing net income
Industrial groups
Total
number of
returns
Gross
income
Number ;
Net
income
2/
Income
tax
[
;
[
Total
tax
[Excess-profits
tax
»
1
Returns showing no net income
Number
Gross
income
;
j
L
:
;
:
Def i ci t
;
:
Number of
returns
showing no
income data-—
Inactive
corporations
86,812
1,200
1,227,744
164,760
5.II3
7,149
1,372,144
51,121
838
13,550
1.539
207,905
15.707
375
5
13,246
245
36,383
2,086
29
19,347
290
19,637
9,741
2,209,885
125,021
352
36,468
5,006
66
5.072
1,368
321,328
17,545
79
362,756
14,976
2,094
20
2,115
340
404,546
10,566
43
1,812
490,406
27,210
3,743
63
3.807
4.723
600,661
76,233
318
2,318
1.209
970,413
80,890
11,123
211
11,334
1,031
347.030
28,418
78
Printing, publishing and allied
industries ...................
12.650
4,490
1 ,283,736
117,465
16,148
201
16,350
7,617
566,513
64,113
543
Chemicals and allied products <
8,218
3.049
3 ,322,986
324,031
44,627
543
45.170
4.557
3.311.710
177.851
612
Stone, clay and glass products
3.972
995
599,214
60,645
8,339
59
8,398
2,747
235.975
36,527
230
20,348
6,844
7 ,044,604
535,149
73,627
787
74.414
12,432
3,582,745
277,205
1,072
6,406
1,823
771,846
70,160
9,649
184
9,832
3.767
433.320
41,456
816
96,660
34.019
27,418,614
1,902,240
261,772
3,412
265,184
57.256
13,630,145
923,848
5.385
Construction ..........
17,750
3,353
574.728
31.694
4.358
190
4,548
12,587
681,871
66,080
1,810
Transportation and public utilities ....
28,529
9.804
5.875.146
914,627
125,934
326
126,260
15.567
4,798,768
615,624
3,158
146,051
52,816
22,910,836
667,971
91,874
2,064
93,938
88,055
10,043,838
349.155
5,180
50,990
11,197
1,563,080
107,815
14,864
346
15,210
34,716
1,812,431
283,256
5.077
147,253
27,258
3 ,039,114
452.965
62,184
715
62,898
98,815
4,854.745
1,656,102
21,180
12,458
188
2,071
908
125
2
I27
1,251
3.546
5.058
11.019
528.882
145»089
145.089
62,839,394
4.264,917
586,773
7,560
594,334
324,671
37,294.956
4,150,694
59,122
1933 ................
504.080
109,786
46,752,366
2,985,972
416,093
6,976
423,068
337.056
36,890,055
5 .533.339
57,238
1932 .......
508,636
82,646
31,707.963
2,153,113
285,5763/
-
285,576 3/
389,238
49.375.775
7,796,687
56.752
1931 ......... » ......................
516,404
175,898
52,051,035
3,683,36^
398.994
-
398,994
283,806
55,464,204
6,970,913
56,700
1930 ................... «....... ...»
518,736
221,420
89,561,495 3/
6,428,813
711,704
-
711.704
241,616
46,500,564
4.877,595
55.700
1929 .......
509.436
269.430
129,633,792
11,653,886
1,193.436
-
1,193,436
186,591
30,987,717
2,914.128
53,415
1928 ........
495.892
268,783
127,369,525 3/
10,617,741
1,184,142
-
1,184,142
174,828
25,411,989 3/
2,391.124
52,281
1927 .................................
475.031
259,849
115,324,340
8,981,884
1,130,674
-
1,130,674
165,826
29,074.012
2,471.739
49,356
1926 ................................
455.320
258,134
118 ,022,117
9,673,403
1,229,797
1,229,797
197,186
24,107,736
2 ,168,710
1925 ...........
430,072
252,334
113 ,692,083
9.583,684
1,170,331
1,170,331
20,568,068 3 /
1 ,962,628
a- i*.
’
1924 ........
417.421
236,389
97.158,997
7.586,652
881,550
22,070,497
2 ,223,926
A/
4,278
7,345
427
21,891
9,079
41,631
627
42,258
95,965
13.196
354
1 ,023,243
96,296
13,241
5,681
3,040,807
141.697
2,423
976
709,035
650
267
Forest products .........
6,853
Paper, pulp, and products
$
296.557
4,198
Agriculture and related industries
10,541
1,996
Mining and quarrying .............
18.650
4.458
1,159.247
156,121
21,464
13.361
5.374
6,956,541
301,286
Liquors and beverages .,.,
3,282
1.368
843,027
Tobacco products ....... .
405
131
Textiles and products ....
15.774
*
30,576
$
$
80
$
$
241,868
$
Manuf ac t ur ing;
Food and kindred products
Leather and manufactures ,
Rubber products ,..........
Metal and its products ......
Other m a n u f a c t u r i n g ...........
Total m a n u f a c t u r i n g ....
T r a d e .... ...............................
Service— Professional, amusements,
hotels, e t c ..........
Finance ............. ............ ...... . *
tyature of business not g i v e n ..........
Grand total .....................
Summary for preceding years;
2f
3/
4/
Gross income corresponds to total income (item 14 , face of return) plus cost of goods sold and cost of operations (items 2 and
for 1934 returns, minus interest received on certain obligations of the United States and its instrumentalities (item ll).
Revised figures.
The number of inactive corporations is included in the number of returns with no net income.
5)
aud,
TREASURY DEPARTMENT
Washington
June 29, 1936,
MEMORANDUM POP THE PRESS
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended June 26, 1936:
Philadelphia........... *.........................
San Erancisco..... ........................
Denver........................... ............... .
Total for week ended June 26, 1936.... ............*
Total receipts through June 26, 1936*.......... ...»
410,354.79 fine ounces
525,407.04
**
»
9,125.30
»
**
944,887.13
»
**
88,941,204.14
«
n
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended June 26, 1936:
Philadelphia............ .
New York..........................
San Francisco.....................
Denver............................
New Orleans..... .................
Seattle ..........................
Total for week ended June 26, 1936..
Total receipts through June 26, 1936
1,Ì38.38 fine ounces
406.00
n
»
1,544.38 fine ounces
112,967,728.94
»
«
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OEEICES:
Week ended June 26, 1936:
Philadelphia .............
New York....... ..........
San Francisco.............
Denver....................
New Orleans........ .
Seattle...................
Total for week ended June 26
Imports
Secondary
55,271,700,00
299,293.90
59,510.32
407.23
1936
19,105.58
20,957.63
18,022.77
12,411.03
$55,630,911.45 $70,497.01
New Domestic
$-------------227,300,00
2,110,299.24
573,763,37
471.531.85
$3,382,894.46
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER*S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks:G-old Coin
Week ended June 24............. $
14,047.55
Received previously............. 51.601.324.91
Total to June 24......... .. ....$31,615,372.46
Received by Treasurer’s Office:
Week ended June 2 4 ........ :...$------- -- ~ ~
Received previously. ...........
268.256.00
Total to June 24............... $
268,256.00
NOTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported*
Gold Certificates
$
320,720.00
108.678.930.00
$108,999,650.00
$
$
2,500.00
2.466.820.00
2,469,320.00
TREASURY DEPARTMENT
IN T E R
O F F IC E
C O M M U N IC A T IO N
DATE
TÖ
Mr. Gaston
FROM
Mr. Bernard
June 24-, 1936
The Secretary has appointed the following lawyers in the
Treasury Department as members of the Board of Review established tar
title VII. Section 906(b) of the Revenue Act of 1936:
L. S. Cannon. Mr. Cannon is now a General Assistant in the office
of the Assistant General Counsel for the Bureau of Internal Revenue. Mr.
Cannon is to be chairman of the Board.
William K. Laws. Mr. Laws is now Chief of the Legal Section of
the Procurement Division. Mr. Laws is to be made vice-chairman of the
Boar^
now a member of the Assistant General
Counsel's Committee in the office of the Assistant General Counsel for
the Bureau of Internal Revenue.
H. Stewart McDonald, Jr. Mr. McDonald is now an attorney in the
office of the General Counsel.
John W. Edwards. Mr. Edwards is now an attorney in the Legislation
and Regulations division in the office of the Assistant General Counsel
for the Bureau of Internal Revenue
Title VII prescribes machinery for handling claims for the
refund of processing taxes collected under the Agricultural Adjustment
Act. Section 906(b) creates a Board of Review, the function of which
is to review the allowance or disallowance by the Commissioner of Internal
Revenue of claims for refund filed by taxpayers. The Board, to be composed
of nine members (one of whom is to be chairman) designated by the Secretary
from among the employees and officers of the Department, will function in
its field very much as the Board of Tax Appeals functions in connection
with deficiency assessments made by the Commissioner.
Mr. Oliphant would like you to prepare a statement announcing
these appointments for release to the press Monday, June 29th. Will you
please let me see a copy of the statement when it is prepared in order that
I may show it to Mr. Oliphant before it is issued?
If I can be of assistance, or if you wish any further infor
mation, please call upon me.
# 2 *
William E* Imm*
Hf* Imm la n m Chlef ai1tho Log&l Soeilon
©I* tho Pmuranoxit Disiai«# Mr« Im m xs t© ho naie viao-ohairjaan <€ tho
Soar&#
Perey S* Cnsm*
Mr* Creso 1© now a stonbar of tho Aaaietast
aonorai Counsol1s Cacsaitto# la thè office of tho A*al»tMs& Gensr&ì Couoael
far tho Bureau of Interna! B©venne*
E* Stewart ìlcBoaald* Jr#
Hr* HolhmaM 1© m m m
aitomcy in
tho orno© of th© General Causa©!*
John W* Bdmr&s*
Kr* ,B&mr&s la m rr m attorni in th©
Legisl&tion and Bogulations disiaion in tho office of tho Atóst&nt
General Coirne©1 for tho Baroli 0 Intarmi f i n p i »
3KEASOTY V B & g m m
'./ftsitingtoa
FOS HSL3ASE* 8C8KU23 HSffimERS
Pro## Cervie#
io.
Soorotary Borgon&hau todóy amsouiieod tha appoìntoent ©f
xaròbor# o f th è Board o f Bevtow ®f f i t l e 7* Beoti osi 90$ (b) of
tk® itevonue Àct o f 1939*
thè duty ©f ih# Board i s to roviow do*
eisions by thè Comlseicaaor of lutùrml Bovoiu# allo«fi»g «r di«all©»*
ing alala# l ’or refuads o f prooeaslig. ioxaa under tb# tona# o f thè Act»
Board u rlìi fonoMon ia thè f i e l i of proceasiag tose rofmids .tua
m rj su oh ih® e »
mnmr m tb® Board o f Tue Appeal# Amot i oh# in
u lth d afieieaey ae9osa»ónte o f ta m «
S^leSW aS who
la di #eabi ifla d isith ih® aìlcmanoo #r dioalloofeno® o f a alali# fa r
fipoooeeias tee ro fta i % thè G m m ^ m i m m o f Internai Eavenu# la por*
tóttod a t any tis» «d it t a throo i*mthsi to f ilo a p e tiiio n w iih tho
Board requeeting a h eari^ *
O ftar
IT thè claiw aat reaein* d tssattafied
a «ma# ha# bmrn dooidod
tjr th» Board o f Batter#, ho casi thon HI©
* p o titio n fa r furth er r&uiow befer© a fa ite d Stato# C ircu it Court o f
- - fi
Appeal#*
; ^ V ■•'; : V
\L\i
i#Ìw*p jj |:
Bi® Act prorido# that te? »®?ab©rs of tho Board »hall ho
off! cor# or anpìagma of tho Épmauiy Departent*
tho fio» motore
appoirtod today aro ali laoyors 1» tho Doparteat.
Shay arai
h* S» Casmo»#
Ir* G m m m li# sur a General Assistani in th©
off! co of tho Aanictant Ganoral Cowìso I for tho Bureau of
-/
S mwmQ*
‘
'
:j-
Ut» G m m m i# to b© o k m X m m m f tho Board#
- 2 -
William K. Laws
Hr»
,is now Chief of the Legal Section
A
of the Procurement Division# Mr# Laws is to be Hnihs vice-chairman of the
*
Board#
)4 4 * *
Percy S# Crewe#. Mi a P i1uws is now a member of the Assistant
General Counsels Committee in the office of the Assistant General Counsel
J
for the Bureau of Internal Revenue.
g^is now an attorney in
H. Stewart McDonald* Jr#., 4
the office of the General Counsel#
John W# EdwardSj
Legielpti
JL '
k
.JL,
ùém aàG jA s now «i/yattorney in the
-anrl Regulaterlitri qa-nn in the office of the Assistant
General Counsel for the Bureau of Internal Revenue#
— oOo—
f
TREASURY DEPARTMENT
Washington
five members of the Board of Review of TitleSection 906 (b) of
'A
the Revenue Act of 1936*
^
The duty of the Board is to review de
cisions by the Commissioner of Internal Revenue allowing or disallow
ing claims for refunds of processing taxes under the terms of the Act*
The Board will function in the field of processing tax refunds in
very much the same manner as the Board of Tax Appeals functions in
connection with deficiency assessments of taxes*
A claimant who
is dissatisfied with the allowance or disallowance of a claim for
processing tax refund by the Commissioner of Internal Revenue is per
mitted at any time within three months to file a petition with the
Board requesting a hearing*
If the claimant remains dissatisfied
after a case has been decided by the Boar^-^f^Review, he can then file
a petition for further review before {^United States Circuit Court of
Appeals*
The Act provides that the members of the Board shall be
officers or employees of the Treasury Department*
The five members
appointed today are all lawyers im the Department* They are:
L* S* Cannon
s mow a General Assistant in the
office of the Assistant General Counsel for the Bureau of Internal
Revenue* Mr, Cannon is to be chairman of the Board
TOî
Mr, Oliphant
PROM: Mr# Gaston
For approval
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, June 29, 1936,
Press Service
No. 7-75
Secretary Morgenthau. today announced the designation of five members of the
Board of Review established by Title VII., Section 906 (b) of the Revenue Act of 1936.
The duty of the Board is to review decisions by the Commissioner of Internal Revenue
allowing or disallowing claims for refunds of processing taxes under the terms of the
Act.
The Board will function in the field of processing tax refunds in very much the
same manner as the Board of Tax Appeals functions in connection with deficiency
assessments of taxes,
A claimant who is dissatisfied with the allowance or disallow
ance of a claim for processing tax refund by the Commissioner of Internal Revenue is
permitted at any time within three months to file a petition with the Board request
ing a hearing.
If the claimant remains dissatisfied after a case has been decided
by the Board of Review, he can then file a petition for further review before the
United States Circuit Court of Appeals.
The Act provides that the members of the Board shall be officers or employees of
the Treasury Departments
Department.
The five members appointed today are all lawyers in the
They are:
L.S. Cannon,who is now a General Assistant in the office of the Assistant Gener
al Counsel for the Bureau of Internal Revenue.
Mr. Cannon is to be Chairman of the
Board.
William K. Laws, who is now Chief of the Legal.Section of the Procurement Divi
sion.
Mr. Laws is to be vice-chairman of the Board.
Percy S. Crewe, who is now a member of the Assistant General Counsels Committee
in the office of the Assistant General Counsel for the Bureau of Internal Revenue.
H. Stewart McDonald, Jr., who is now an attorney in the office of the General
Counsel.
John W. Edwards, who is now a special attorney.in the office of the Assistant
General Counsel for the Bureau of Internal
Revenue*
ooOoo
treasury d ep m bs rt
Washington
FOE RELEASE, M I S IE1SPAPIR3
Tuesday. June 30. 1938.
6/29/36
Press Service
7-76
Secretary of the Treasury lorgenthau announced last evening
that the tenders for 150,000,000, or thereabouts, of 273-day Treasury
bills, dated July 1, 1936, and maturing larch 31, 1937, which were
offered on June 26, were opened at the Federal Reserve banks on
June 29*
The total amount applied for was #154,933,000, of which
#50,015,000 was accepted. Except for one bid of #15,000, the
accepted bids ranged in price from 99.861, equivalent to a rate
of about 0.183 percent per annum, to 99.847, equivalent to a rate
of about 0.202 percent per annum, on a bank discount basis. The
average price of Treasury Mils to be issued is 99.855 and the
average rate is about 0.191 percent per annum on a bank discount
basis.
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS
Tuesday, June 30, 1 9 3 6 « _____
6-29-36,
Press Service
No. 7-76
Secretary of the Treasury Mergenthau announced last evening that the ten-
1936, and ¿maturing March 31, 1937, which were offered on June 26, were opened
at the Federal Reserve Banks on June 29.
The total amount applied for was $154,933,000, of which $50,015,000 was
accepted.
Except for one hid of $i5,000, the accepted hids ranged in price
from 99,861, equivalent to a rate of about 0,183 percent per annum, to 99,847,
equivalent to a rate of about 0.202 percent per annum, on a bank discount
basis.
The average price of Treasury bills to be issued is 99,855 and_ the
average rate is about 0.191 percent per annum on a bank discount basis.
oo0©o
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7
Duties eall« d td i #m Imports o f d is tille d liquors and vino» during
Hay ««re $586,343, or 15*f percent le ss than during the previous month.
the Bureau of Dostons announced today*
The
umber o f g a l l o n s o f v i n e , b o t h » t i l l « a d s p e r f c l i n g , which p a id
d u t i e s an d w as r e l e a s e d
fro m c u e t o n s c u s t o d y f o r c o n s u m p tio n d u r in g t h e
m onth o f H ay w as « s e l l e r th em f o r a n y » o a t h s i n c e t h e r e p e a l o f t h e
E i g h t e e n t h Am endm ent.
t h i s « a s d o e t o t h e ananunoem em t e a r l y I n May o f
t h e t e r n s o f t h e B e e i p r o c a l t r a d e A g re e m e n t w it h F r a n c e , u n d e r w h ic h t h e
r a t e s o f d u ty on b o th th e le a d in g ty p e s o f « in e « e r e re d u ce d e f f e c t i v e
June 1 5 t h *
I n a n t ic ip a t io n o f th e s e r e d u c tio n s i n r a t e s , th e la p o r t a -
t i o n e d a r i n g M ay « e r e s o r e l y s u f f i c i e n t t o f i l l im m e d ia te r e q u i r
in p o r ts o f d l s t l l l o d
ly
w ilie r
emnts ,
l i q u o r s , o n t h e o t h e r h a n d , a lth o u g h s e a s o n a l*
t h a n d u r i n g a n y o f t h e f o u r months im m e d i a t e ly p r e c e d i n g , c o n *
t l n u e t o e x c e e d t h e q u a n t i t i e s I m p o r te d p r i o r t o t h e r e d u c t i o n i n t h e
r a t e s o f d u t y , fr o m $ 5 .0 0 t o # 2*50 p e r p r o o f g a l l o n , u n d e r t h e te r m s o f
the Reciprocal trade Agreement with Canada, which became e ffe c tiv e on
January 1 , 1956*
the quantity o f d iet tile d liquors released fo r con
sumption since January 1 s t «as almost double the amount fo r the f ir s t
fiv e months o f the previous «slender year*
the to ta l duties c o lle c
ted on d is tille d liquor since the reduction in rate o f duty on whiskey,
th erefore, «ere p ra c tic a lly the same as during the corresponding months
o f 1955
tffeyytifeser*
The follow ing table presents a detailed statement o f imports o f
d is tille d liquors and vinos, and duties collected thereon.
1
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wj»dnesday, July, 1. 1936.________
6—30—36*
Press Service
No. 7-77
Duties collected on imports of distilled liquors and wines during May were
$386,242, or 13.6 percent less than during the previous month, the Bureau of Cus
toms announced today.
The number of gallons of wine, both still and sparkling, which paid duties
and was released from customs custody for consumption during the month of May was
smaller than for any month since the repeal of the Eighteenth Amendment.
This
was due to the announcement early in May of the terms of the Reciprocal Trade
Agreement with Prance, under which the rates of duty on both the leading types
of wine were reduced effective June 15th.
In anticipation of these reductions
in rates, the importations during May were merely sufficient to fill immediate
requirements.
Imports of distilled liquors, on the other hand, although seasonally smaller
than during any of the four months immediately preceding, continue to exceed
the quantities imported prior to the reduction in the rates of duty, from $5.00
to $2.50 per proof gallon, under the terms of the Reciprocal Trade Agreement
with Canada, which became effective on January 1, 1936.
The quantity of distilled
liquors released for consumption since January 1st was almost double the amount
for the first five months of the previous calendar year.
The total duties col
lected on distilled liquor since the reduction in rate of duty on whiskey,
therefore, were practically the same as during the corresponding months of 1935.
The following table presents a detailed statement of imports of distilled
liquors and wines, and duties collected thereon.
>2.
IMPORTS OP DISTILLED LIQUORS AND WIRES AND DUTIES COLLECTED THEREON
May* 1936
•
m
•'
¥
•
0
May
i
April
i
May
: 5 Months (Jan. - May)
1936
5
1936
j
1935
:
1936
. 11y
-*.. u -• • 1
•
1935
DISTILLED LIQUORS
(proof -Gallons)^
Stock in Customs ,
Bonded Warehouses
at "beginning.,.. 3,607,200 3,753,253 3,669,128 4,233,874 4,282,960
Total Imports (Pree
and dutiable)..,. 1,270,788
832,534
486,880 4,862,721 2,189,144
Available for Con
sumption. ........ 4,877,988 4,585,787 4,156,008 9,096,595 6,472,104
Entered Into Con
sumption (a).....
899,033
969,301
561,460 5,078,620 2,749,817
Stock in Customs
Bonded Warehouses
at end.......... 3,975,070 3,607,200 3,588,255 3,975,070 3,588,255
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning,... 1,639,019 1,615,817 1,622,626 1,608,118 1,766,588
Total Imports (Pree
and dutiable)....
191,097
230,834
129,281 1,038,282
738,712
Available for Con
sumption....... . 1,830,116 1,846,651 1,751,907 2,646,400 2,505,300
Entered into Con
sumption (a)....
123,419
200,084
170,366
925,569
909,482
Stock in Customs.
Bonded Warehouses
at end..... .
1,705,259 1,639,019 1,575,396 1,705,259 1,-575,396
SPARKLING WINES
(Liquid Gallons)
Stock in Customs.
Bonded Warehouses
at beginning,...
231,300
233,046
302,076
233,029
325,712
Total Imports (Pree
and duti able)....
16,155
14,783
5^459
77,271
48,750
Available for Con
sumption. .......
247,455
247,829
307,535
310,300
374,462
Entered into Con
sumption (a).....
7,390
15,164
16,101
68,391
74,337
Stock in Customs.
Bonded Warehouses
at end..........
234,786
291,327
231,300
234,786
291,327
DUTIES COLLECTED ON
__________ _____________________ _____________________
Distilled Liquors.. $2,256,356 $2,500,116 $2,755,904$13,074,714$13,330,353
Still Wines ...... . 153,305
249,509
211,190 1,153,334 1,132,201
Sparkling Wines..«.
42.714
88.992
94,860
399.744
437.892
Total Duties Collect'
■pgj-Qfl Liquors
$2.452,375 $2.838«617 $3.061.954&L4.627.792&L4.900.446
•' Including withdrawals for ship supplies and diplomatic use*
4
4
4
4
TREASURY DEPARTMENT
Press Service
No. 7~78
The following text of a radio address "by Secretary Morgenthau
is for release AFTER DELIVERY, which is scheduled to "begin at
10215 Eastern Standard Time, Wednesday evening, July 1, The
address will he."broadcast hy the National, Broadcasting Company
and the Columbia Broadcasting System over national networks
both systems^
. .
„
.
"•
Last night the Treasury closed its books for the fiscal year 1936, which
includes the twelve months from July 1,.1935 to June 30, 1936«
The Government
has been operating during this period on a financial program laid down in the
early months of 1935.
The stockholders of a business enterprise are interested in having at the
close of each business year, an accounting made to them by the financial officers
of the company.
It is customary to furnish them with facts and figures on the
year’s operations.
The Government of the United States is your business.
You
are its stockholders.
Tonight I am going to report to you on the finances of the Government for
the year just ended and give you the results.
The man who is responsible for the conduct of a business enterprise
estimates just before the new year begins what the expenses will be and what
receipts he can reasonably expect.
basis of these estimates.
He then plans the year’s activities on the
But the Government under the law has to estimate each
Fall its receipts and expenditures for a fiscal year which ’
will not begin until
more than six months later.
Thus, nearly two years ago, in the Fall of 1934,
estimates were prepared for the fiscal year which began las’t July, and which
ended last night.
At that time, nearly two years ago, it looked as if our
revenues would total just under 4 billion dollars and our expenditures,
excluding debt retirement, would amount- to almost 8 billion dollars.
On this
basis we would have shown a net deficit for the year of-almost 4 billion dollars.
You and I cannot always tell when we make our "business plans what unfore-.
seen and extraordinary events may increase our expenses or reduce our revenues.
The manufacturer whose plant is situated in a flood area may have his calcula
tions upset by a disastrous flood.
His income may be reduced.
His expenditures
may be increased.
The business of the Government also is subject to unforeseen and extra
ordinary events,
"Scarcely had the present Congress met last January when two
events completely changed the budget outlook.
First, the prospective revenues
were cut down as a result of the decision of the. Supreme Court that the
Agricultural Adjustment Act was unconstitutional.
This meant a loss to the
Treasury, in 1936, of nearly half a billion dollars.
Second, prospective
expenditures were increased by an Act of Congress directing the immediate payment;
of the veterans1 Adjusted Service Certificates,
To provide for the payment of
these certificates which, under their original terms were not due until 1945,
the expenditure program for 1936 was increased by 1 billion 700 million dollars.
Let us see what the results v/ere.
The actual receipts coming in to the Treasury during the year which ended
last night aggregated 4 billion 116 million dollars.
This is 316 million dol
lars more than came in during the fiscal year 1935, notwithstanding the less
of 444 million dollars through the elimination of processing taxes.
But
revenue from other sources increased, 760 million dollars, a gain of 23 per
cent, due in large part to improvement in business and agricultural conditions.
I
Our revenues come mainly from two sources —
internal revenue.
Of the income taxes corporation
income taxes and miscellaneous
and individual income
taxes amounted to nearly a billion and a half for the year that just closed —
an
increase over 1935 of 30 per cent.
The miscellaneous taxes brought in over
2 Million dollars —
an increase of 20 per cent.
Customs receipts rose 12 per
cent*
We spent during the year 8 "billion 500 million dollars, excluding debt
retirement.
ment*
Three and a half billion was for ordinary operation of the G-overn-
Approximately 3 billion three hundred million was for recovery and relief.
The net excess of expenditures over receipts was feur billion four hundred
million.
But leaving out of consideration the payment to veterans of 1 billion
700 million, the excess ef expenditures over receipts for the fiscal year just
ended is 2 billion 700 million.
As we have seen, ordinary operating expenses accounted for three and onehalf billion dollars of which National defense took three-quarters of a billion;
annual continuing payments to veterans nearly 600 million; interest on the
public debt another three-quarters of a billion; agricultural aid one-half
billion, and the other ordinary operating expenses of the Government nine
hundred million.
How were the recovery and relief expenditures of three billion three
hundred million dollars divided?
We expended for large permanent public
works under the emergency program 800 million.
half a billion,
Direct relief required just under
In addition we provided about a billion and a quarter for work
relief in the form of smaller public works»most of them of permanent value,and
nearly half a billion for CCC camps,-. Aid to home owners and other miscellaneous
expenditures took more than 250 million.
Two important facts stand out.
revenue*
On the one hand is an increase in Federal
vhi the other is a decrease in Federal expenditures aside from the
payment to veterans.
As X have shown you, your government spent 8 billion 500 million dollars
during the year which ended last night,
We want you to know where the Treasury
got this money.
We had 1 billion 80C million dollars cash in our-General Fund
at the beginning of the year.
dollars.-
Our revenue receipts were just over four billion
The other two and one-half billion .that we spent had to be borrowed.
As a matter of fact, we borrowed more than five billion dollars net, but we
have two billion 700 million left in our cash balance to meet the.expenditures
of coming months,- including the redemption of the veterans* bonds.
The business man takes inventory at the end of his business year.
do likewise.
Let us
We have a gross public debt of 33 and three-quarters billion
dollars.. What have we in our.inventory as offsets against this amount?
not, as does the business man,, include additions to our plant.
We do
Our public
buildings, our other public works projects, and our land acquisitions are treated
as outright expenditures and, while they are truly assets.of the Government,they-are not included in our financial statement*
The first of our cash assets is the General Fund balance — - the money we
have in our cash drawer and on deposit in the bank, -The General Fund balance
yesterday was 2 billion 700 million dollars.
important cash asset.,
The Government has another
It is the 2 billion dollar Stabilization Fund, which
Will ultimately be used to retire a like amount of public debt.
In addition we have certain assets representing obligations due1us upon
which the Treasury will realize cash and which will ultimately be available
f<*r,debt retirement.
These recoverable assets —
loans to home owners, to
farmers, to railroads,, to banks and insurance companies, to States and cities —
now total more than 4 billion dollars.'
These three items —
Stabilization Fund, and recoverable loans —
cash an hand,
provide an offset of 8 and three-
quarters billion dollars to the 33 and three-quarters billion dollar public debt.
An outstanding development in connection with the Government*s financing
during the past 3 years is the fact that we have reduced the average rate of
interest nearly* one-fourth.
This reduction means an annual saving of more than
360 million dollars^
The Government has led the way in reduction of interest charges.
The
individual business man has been able to follow in the footsteps of his Government
in reducing his own interest charges and in refunding the debt of his own
business.
During the twelve months ended June 30, 1936, business corporations
registered with the Securities and Exchange Commission more than 2| billion
dollars of securities for the refunding of indebtedness.
The approximate
average reduction in the gross rate of interest paid by these private business
corporations was 1^ per cent, which would mean a saving to,these corporations
of more than 30 million dollars a year in interest charges*
All of us have a vital interest in the fiscal affairs of our government,
tfe may derive real encouragement and satisfaction from these facts!
National
income is rising; as a result Federal revenue is increasing; Federal expenditures
are on the decline, and.the Nation’s business is continuing to show steady
improvement.
ooOoo
B-1468
BASIS OF ALLOTMENTS TO STATES FROM FUNDS APPROPRIATED UNDER THE PROVISIONS
OF SECTION 601, SOCIAL SECURITY ACT, FOR FISCAL YEAR 193?, TOG-ETHER WITH
UNPAID BALANCES OF ALLOTMENTS FROM THE APPROPRIATION FOR FISCAL YEAR 1936
State
or
Territory
Total
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Dist*of Col.
Florida
G-eorgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Hans as
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
No. Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
So. Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wlsconsi n
Wyoming
%
Total
Allocation on basis
, of population
Allocation on basis of
special health problems
To be
matched
by exist
ing funds
Special diseases
Training
and conditions
To be
To be
per
sonnel
matched
matched
by exist with new
ing funds money
To be
matched
with new
money
Ì8,881,8591 ¡2,553,534 $2,553,534
243,752
35,291
57,498
180,324
330* 826
93,239
98,040
31,024
51,943
129,630
262,913
53,688
62,859
406,873
217,781
193,479
140,877
229,928
177,039
67,941
125,433
247,464
280,293
200,054
192,767
238,616
63,676
113,981
38,471
48,580
217,861
69,157
659,620
314,406
77,836
351,313
185,101
80,041
500,988
55,633
182,902
79,080
255,296
433,837
58,409!
46,613
214,972
100,439
158,929
183,203
43,343j
54,847
1,229
9,028
38,437
117,668
21,468
33,305
4,941
10,091
30,431
60,283
7,634
9,224
158*155
67,122
51,213
38,986
54,191
43,558
16,528
33,816
88,079
100,363
53,141
41,656
75,223
11,143
28,560
1,887
9,644
83,762
8,774
260,904
65,708
14,111
137,761
49,661
19,768
199,622
14,249
36,038
14,360
54,232
120,725
10,526
7,453
50,196
32,403
35,840
60.915
4,675
54,847
1*229
9*028
38,437
117,668
21,468
33,305
4,941
10,091
30,431
60,283
7,634
9,224
158,155
67,122
51,213
38,986
54,191
43,558
16,528
33,816
88,079
100,363
53,141
41,656
75,223
11,143
28,560
1,887
9,644
83,762
8,774
260,904
65,708
14,111
137,761
49,661
19,768
199,622
14,249
36,038
14,360
54,232
120,725
10,526
7,453
50,196
32,403
35,840
60,915
4k 675
Allocation
on "basis
of
financial
needs
$498,616 $498,616 $1,001,186 $1,776*3731
8,500
8,500
11,000
7,500
19,250
11*200
5*750
4,000
8,250
10,541
8,750
7,250
11*200
19*676
5; 750
4*900
4,900
9,250
5,750
4,900
13,000
14,750
12,500
7,500
5,750
11,946
10,650
4,900
10,400
4,900
9,135
12,750
30,500
8,750
7,325
14,000
4,900
9,838
20,500
5,750
10,050
7,325
9,500
17,250
7,350
6,500
9,500
7,730
12,500
4,900
9,450
8,500
8,500
11,000
7,500
19,250
11,200
5,750
4,000
8,250
10,541
8,750
7,250
11,200
19, €76
5,750
4,900
4,900
9,250
5,750
4,900
13,000
14,750
12,500
7,500
5,750
11,946
10,650
4,900
10,400
4,900
9,135
12,750
30,500
8,750
7,325
14,000
4,900
9,838
20,500
5,750
10,050
7,325
9,500
17,250
7,350
6,500
0,500
7,730
12,500
4,900
9,450
24,689
3,575
5,824
18,265
46,990
9,343
9,930
3,142
5,261
13,130
26,630
5,438
6,367
41,211
22,059
19,597
14,269
23,289
17,932
6,882
21,692
31,806
44,567
36,440
19,525
24,169
6,450
11,545
3,897
4,921
22,067
7,005
66,812
53,864
7,884
35,584
18,749
8,107
50,744
5,635
18,526
8,010
39,339
43,943
5,916
4,721
26,268
10,173
16,098
18,556
4,350
93^ 369
13,258
11,618
7 0 ,185j
10,C
17,5601
10,000
10,000
10,000
34,556)
98,217 J
18,482
15,644
10 , 000j
49,978
61,656
38,836
79,757
60,491
18,203
10,109'
10,000!
10 , 000:
42,332
78,430
40,109
13,640
35,5161
10,000)
14,571
10,000
19,104
10,000
nr,^f
27,08
12,207
57,230
12,722
10,000
10,000
72,200
27,700
88,493
113,944
16,741
13,986
69,312
10,000
46,151
33,017
10,343
Regulations governing the distribution of federal funds to states by
the Public Health Service, under the Social Security Act, for the 1937 fiscal year,
and the total allocations
i,
Dr «Thomas Parran, Surgeon General of the United States Public Health Service*
The act provides for the annual distribution of
000,000 among the
states and territories^The total to Se distributed during the 1937 fiscal year
*
*8 ,881,859 of which |881,859 is the unexpended balance
for the iaodc five months
of the 1936 fiscal, year, the period during wiy^Lch the Social Security Act was
operative*
-Per the five,
he states $ a total
"was2***aîlo,t5d to the states and
Regulations and
the bases of allocation are appended >heisPiPW£T!
8
B-1470
(a)
Activities of Cehtfal administration and Service pro
jects pursuant to approved budgets shall he reported quarterlyin duplicate and may he submitted in narrative form*
(h)
A copy of the progress report from each local health
project pursuant to approved budgets shall be furnished to
the Regional Office on forms of the State health department»
(c)
A consolidated summary report for all local projects
pursuant to approved budgets shall be made to the Surgeon
General on forms provided by the Public Health Service for
that purpose»
The listing of certain items on the summary report form
referred to above should not be interpreted as requiring that
all such activities be carried out in every local health pro
ject*
Also, other activities not listed on the report form
should be reported in an appropriate manner*
Statistical reports may be submitted with narrative re
ports wherever considered desirable by the State health
officer.
XVIII*
Reports of Activities and Expenditures from Mother agencies11
not Required.
No detailed accounting of expenditures and no detailed
reports of activities will be required for personnel and
other expenditures paid from funds supplied by other agencies
unless such funds are used for purposes of meeting the
matching requirements of the Public Health Service*
THOMAS PARRAN,
Surgeon General
B-1470
- 7 ments, subject to approval of the Secretary of the Treasury,
to the Treasurer of the State or other State official authorized
by law to receive such funds.
XV.
Custody and Disbursement of Fund.
All such payments shall be held by the State official to
whom made in a separate fund distinct from other State funds
and shall be disbursed by him solely for the purpose or pur
poses specified in budgets approved by the State health officer
and the Surgeon General and filed with such official.
XVI•
Financial Reports.
The State health officer shall submit to the Surgeon General
on forms provided for that purpose quarterly financial reports
as follows:
a*
A quarterly project financial report for
each budget in force; and
b.
A consolidated quarterly report summarizing
all budgets.
The consolidated quarterly financial report must be certi
fied also by the Treasurer or other State official charged with
the responsibility for disbursing funds.
The reports shall show the amount of Public Health Service
funds actually expended, the actual expenditure of State and
local funds, and such other information as the Surgeon General
may from time to time require*
XVII•
Progress Reports of Activities.
Quarterly reports of activities will be required by the
Public Health Service from each State health department as follows:
B-1470
-
wholei
6
-
The sum of $113*000 shall he allotted to States on the
basis of the special need of such States for the training of per
sonnel in approved training centers*
XII*
Purposes for which Training Bunds Mav Bo Used*
Bunds allotted to a State for the training of personnel may
he used to pay living stipends, tuition, and traveling expenses
of personnel employed or to he employed in the State and local
health services, such training period not to exceed one year
for any individual*
The Surgeon General will recommend to the States the maximum
allowances for stipends, traveling and other permissible items
of expense for the training of personnel*
XIII.
Payments on the Basis of Financial Heed.
The funds to he allotted to the several States for the fiscal
year 1937 on the basis of financial needs ($1,776,373) shall he
distributed among the States as follows:
(a)
A sum of $510,000 shall he allotted equally among the
States*
(b)
The remainder ($1,266,373) shall he allotted among the
several States on the basis of financial need as determined by
the financial ability of the State expressed indirectly in terms
of per capita income.
Payments from the allotments made on these two bases of
financial need will not be required to be matched with State or
local funds*
XIV.
Method of Payment to States*
Payments to the States shall be made in quarterly install-
B-1470
IX*
- 5 -
Matching with New Public Funds.
Except as provided in Regulation XI, one half of the amount
allotted to States on the "basis of population and for special
health problems shall he available for payment when matched by
at least an equal amount of new appropriations of public funds
for public health work made since January 1, 1935, or made prior
to that date for the specific purpose of matching funds available
under the provisions of the Social Security Act:
Provided, the
Surgeon General in his discretion may permit not to exceed 50 per
cent of the money available for matching with new public funds to
be matched with existing State appropriations for local health
service where the State is already making a substantial appro
priation for this purpose.
X.
Payments on the Basis of Special Health Problems.
In the allotment of funds for special health problems this
term shall be interpreted to mean necessity arising out of high
morbidity or mortality on a State-wide basis from particular
causes, such as malaria, hookworm, bubonic plague, trachoma,
typhus fever, special industrial hazards and similar geograph
ically limited diseases or other conditions that result in
inequality of exposure to public health hazards among the States.
XI.
Training of Personnel.
In order to meet the needs for properly qualified professional
and technical personnel with which to conduct effectively the State
and local health services, the sum of $1,001,186 shall be set aside
for the fiscal year 1937 and allotted to the States for'this-purpose.
Of this sum $888,186 shall be allotted among the States in the same
ratio which the sum of other allotments to any State bears to the
- 4 -
B-1470
fiscal year, for (a) now projects or (b) adding new items
to existing 'budgets*
Revisions of existing budgets shall be submitted whenever
the rate of expenditure for any budget item is to be increased;
but not when through lapses or otherwise the expenditures are
to be decreased.
Such savings from approved budgets may be
transferred to other budgets after such revised budget is sub
mitted for approval*
Supplemental and revised budgets submitted in any quarter
after the beginning of the fiscal year shall not be made ef
fective prior to the beginning of the next succeeding quarter;
provided, that exceptions to this rule may be made, with the
approval of the Surgeon General, when necessary to meet emer
gencies*
VII.
Existing: Appropriations Hot to be Replaced.
Payments to aid existing State or local projects will be
supplemental to funds now being expended and in no case shall
such payments replace existing State or local appropriations for
the purpose of relieving State or local authorities from expendi
tures now being made.
VIII.
Matching with Existing Public Punds.
Except as provided in Regulation XI, one half of the amount
allotted to States on the basis of population and for special
health problems shall be available for payment when matched by
at least an equal amount of existing appropriations of public
funds for public health work.
B-1470
IV.
- 3 -
Submission of Plans.
To be eligible to receive payments from allotments each
State shall have presented:
(a) a comprehensive statement
of the present State health organization, programs and budget;
(b) a proposed plan for extending and improving the administra
tive functions of the State department of health, (c) a pro
posed plan for extending and improving local (county, district,
city) health services to be carried out with the assistance
of funds available under the provisions of Title VI of the
Social Security Act.
V.
Submission and Approval of Budgets.
Before payments shall bo made to any State, the State
health officer shall:
(a) Submit to the Surgeon General and secure approval
of a proposed budget, for each project, on forms supplied by
the Public Health Service.
The budget shall show the sources,
purposes, and amounts of all funds, the amounts requested from
the Public Health Service for the fiscal year, together with
such other information relating to such proposed project as
the Surgeon General may require.
(b) Certify that State and local expenditures have not
been replaced or curtailed through the use of federal funds.
VI.
Supplemental and Revised Budgets.
Supplemental budgets for the purpose of utilizing unpaid
balances of allotments, or unexpended balances from payments
made on the basis of previously approved budgets, may bo sub
mitted for any subsequent quarter after the beginning of the
2
b -1470
2.
Special health problems»
Allotments amounting to 22-g- percent of available
appropriations will be made to the several States on
the basis of special health problems including'1the ”
training of personnel, as determined by the Surgeon.
Generals
3.
Financial needs.
Allotments amounting to 20 percent of available
appropriations will be made to the States on the basis
of the financial needs of such States.
Ill*
Balances for the fiscal year ending Juno 30. 1937.
Unpaid balances of allotments at the end of such fiscal
year shall not be paid but shall remain in the appropriation
for re-allotment to the States in the succeeding fiscal year
in accordance with the provisions of Subsection (b), Section
602, of the Social Security Act.
Unexpended balances remaining from quarterly payments
made to the States in accordance with the provisions of
Subsection (c) Section 602, of the Social Security Act may
be retained by the States and utilized for carrying out the
purposes specified in Section 601 in any succeeding quarter
or fiscal year subject to the follo\,7ing conditions:
(1)
Balances required under these regulations
to be matched with State or local funds must
be so matched before they are expended.
(2)
Budgets for the expenditure of such balances
must be submitted and approved prior to such ex
penditure
B—1470
TREASURY DEPARTMENT
UNITED STATES PUBLIC HEALTH SERVICE
REGULATIONS OP THE SURGEON GENERAL GOVERNING ALLOTMENTS AND
PAYMENTS TO STATES PROM PUNDS APPROPRIATED UNDER THE PROVI
SIONS OF SECTION 601, SOCIAL SECURITY ACT, FOR THE FISCAL
YEAR 1937
I*
Compliance with Law and Regulations.
In order that funds allotted to the States may he of maximum
use in assisting States, Counties, and Health Districts, and other
political sub-divisions of the States, in establishing and main
taining adequate public health service, payments made to a State
under authority of Title VI of the Social Security Act will be
certified by the Surgeon General only after such State has complied
with the provisions of the Act and the Regulations authorized
thereunder*
II.
Allotments.
Funds appropriated by the Congress for the fiscal year 1937 and
balances remaining unpaid to the States at the end of the fiscal
year 1936 will be allotted to the States on the basis of (1) pop
ulation, (2) special health problems, (3) financial needs, as
provided in Title VI of the Social Security Act of August 14, 1935,
in accordance with the following percentage distribution.
1*
Population.
Allotments amounting to 57-|- percent of the
available appropriations will be made to the several
States in the ratio which the population of each State
bears to the population of the United States as shown
by the last decennial federal census.
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS
Friday. July 3, 1936»____________
7-2-36.
Press Service
No. 7-79
Regulations governing the distribution of Federal funds to states by
»
the Public Health Service, under the Social Security Act, for the 1937
fiscal year, and the total allocations, were announced today by Dr. Thomas
Parran, Surgeon General of the United States Public Health Service*
The act provides for the annual distribution of $8,000,000 among the
states and territories for the protection of public health.
The total to
be distributed during the 1937 fiscal year is $8,881,859, of which
$881,859 is the unexpended balance for the five months of the 1936 fiscal
year, the period during which the Social Security Act was operative*
Regulations and the bases of allocation are appended?
B-1468
BASIS OF ALLOTMENTS TO STATES FROM FUNDS APPROPRIATED UNDER THE PROVISIONS
OF SECTION 601, SOCIAL SECURITY ACT, FOR FISCAL YEAR 1937, TOG-ETHER WITH
UNPAID BALANCES OF ALLOTMENTS FROM THE APPROPRIATION FOR FISCAL YEAR 1936
Allocation on basis
, of population
State
or
Territory
Total
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Dist.of Col*
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentuclsy
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
No. Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
So. Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsi n
Wyoming
Total
To be
matched
by exist
ing funds
To be
matched
with new
money
18,881,8591 12,553,534 $2,553,534
243,752
35,291
57,498
180,324
330,826
93,239
98,040
31,024
51,943
129,630
262,913
53,688
62,859
406,873
217,781
193,479
140,877
229,928
177,039
67,941
125,433
247,464
280,293
200,054
192,767
238,616
63,676
113,981
38,471
48,580
217,861
69,157
659,620
314,406
77,836
351,313
185,101
80,041
500,988
55,633
182,902
79,080
255,296
433,837
58,409
46,613
214,972
100,439
158,929
183,203
42,343|
54,847
1,229
9,028
38,437
117,668
21,468
33,305
4,941
10,091
30,431
60,283
7,634
9,224
158,155
67,122
51,213
-38,986
54,191
43,558
16*528
33,816
88,079
100,363
53,141
41, 656
75,223
11,143
28,560
1,887
9,644
83,762
8,774
260,904
65,708
14,111
137,761
49,661
19,768
199,622
14,249
36,038
14,360
54,232
120,725
10,526
7,453
50,196
32,403
35,840
60.915
4,675
54,847
1,229
9,028
38,437
117,668
21,468
33,305
4,941
10,091
30,431
60,283
7,634
9,224
158*155
67*122
51*213
38,986
54,191
43,558
16,528
33,816
88,079
100,363
53,141
41,656
75,223
11,143
28,560
1,887
9,644
83,762
8,774
260,904
65,708
14,111
137,761
49,661
19,768
199,622
14,249
36,038
14,360
54,232
120,725
10,526
7,453
50,196
32,403
35,840
60,915
4,675
Allocation on basis of
special health problems
Special diseases
Training
and conditions
To be
To be
per
sonnel
matched
matched
by exist with new
ing funds money
on basis
òf
financial
needs
$498,616 $498,616 $1,001,186
8,500
8,500
11,000
7,500
19,250
11,200
5,750
4,000
8,250
10,541
8,750
7,250
11,200
19,676
5,750
4,900
4,900
9,250
5,750
4,900
13,000
14,750
12,500
7,500.
5,750
11,946
10,650
4,900
10,400
4,900
9,135
12,750
30,500
8,750
7,325
14,000
4,900
9,838
20,500
5,750
10,050
7,325
9,500
17,250
7,350
6,500
9,500
7,730
12,500
4,900
9,450
8*500
8,500
11,000
7,500
19,250
11,200
5,750
4,000
8,250
10*541
8',750
7,250
11,200
19,676
5,750
4,900
4,900
9,250
5*750
4,900
13,000
14,750
12,500
7,500
5,750
11,946
10,650
4,900
10,400
4,900
9,135
12,750
30,500
8,750
7,325
14,000
4,900
9,838
20,500
5,750
10,050
7,325
9,500
17,350
7,350
6,500
9,500
7,730
12,500
4,900
9,450
24,689
3,575
5,824
18,265
46,990
9,343
9,930
3,142
5,261
13,130
26,630
5,438
6,367
41,211
22,059
19,597
14,269
23,289
17,932
6,882
21,692
31,806
44,567
36,440
19,525
24,169
6,450
11,545
3,897
4,921
22,067
7,005
66,812
53,864
7,884
35,584
18,749
8,107
50,744
5,635
18,526
8,010
39,339
43,943
5,916
4,721
26,268
10,173
16,098
18,556
4,350
92,369
12,258
11,618
70,185
10,000
17,560
10,000
10,000
10,000
34,556s
98,217
18,48$
15,644
10,000
49,978
61,656
38,836
79,757
60,491
18,203]
10,109’
10,000
1 0 ,000 !
42,332
78,430|
40,1091
13,640j
35,516
10,000
.14,57]
10,000
19,104
10,000
111,62a
27,080
12,207
57,2301
12,7221
10,0001
10,0 0 0
72,200
27,7001
«Mg
n s,# f
16,7^
13,987
69,312
10,000
46,151
33,017
TREASURY DEPARTMENT
WASHINGTON
FOR IMMEDIATE RELEASE
Thursday, July 2, 1936,
Press Service
No. 7 - 8 0
/
The following announcement is made today by Secretary Morgenthau:
The net results of the financial operations of the Government for
the fiscal year 1936 are now available on the basis of figures appearing
on the Daily Treasury Statement for June 30, 1936.
Total receipts amounted
to $4,116,000,000 and total expenditures were $8,880,000,000, resulting in
a deficit of $4,764,000,000.
statutory debt retirement.
deficit was $4,361,000,000.
The expenditures include $403,000,000 for
After deducting statutory debt retirement the net
This amount plus the increase in the general
fund balance amounting to $840,000,000 and less the excess of receipts by
reason of transactions in trust accounts, increment on gold, etc., amounting
to $123,000,000 (exclusive of debt retirement through the redemption of
national bank notes) accounts for an increase in the-gross public debt from
$28,701,000,000 at the close of the fiscal year 1935 to $33,779,000,000 at
the close of the fiscal year 1936.
The President in his Budget Message to Congress in January, 1936,
estimated that the net deficit for the fiscal year just closed would amount
to approximately $2,682,000,000.
However, since that time, the Congress
passed the Adjusted Compensation Payment Act providing for the immediate
payment of adjusted service certificates at their maturity value, as a
result of which the deficit for 1936 was increased by $1,673,000,000.
The
deficit was further increased because of the reduction in anticipated
revenue from processing taxes as a result of the decision of the Supreme
Court relating to the Agricultural Adjustment Act.
The loss in estimated
-
2
-
revenue amounted to approximately $452,000,000,.
Had it not been for those
two items the net deficit for the year just closed would have amounted to
approximately $2,236,000,000, or about $446,000,000 less than the amount
estimated in the Budget submitted to Congress in January, 1936,
The net
deficit for the fiscal year 1935 amounted to $3,002,000,000.
RECEIPTS
T~. .T'
r■
r
“"
/
Total receipts during the fiscaL year 1936 were $4,116,000,000, or
about $316,000,000 larger than receipts during the fiscal year 1935.
Income
taxos amounted to $1,426,000,000, an increase of $337,000,000; miscellaneous
internal revenue amounted to $2,010,000,000, an increase of $353,000,000;
customs receipts amounted to $387,000,000, an Increase of $44,000,000; mis
cellaneous receipts from sundry sources amounted to $216,000r000, an increase
of $36,000,000; and processing taxes on farm products amounted to only
$77,000,000, a decrease of $444,000,000 below the amount for 1935.
The following statement shows the actual receipts ( in millions
of dollars) from various sources for the fiscal years 1935 and 1936, and the
estimate of receipts for the fiscal year 1936, as contained in the 1937
Budget:
Estimate
for 1936
in the
1937
Budget
Increase (+)
or
Decrease (-)
as compared
with 1936 actual
O
<jD
to
43=
(—1
1935
Actual Recei pts
Increase (+)
Decrease (-)
: 1936
$1,426
$ 4 327
$1,434
1,657
2,010
4 353
1,912
+- 98
Customs
343
387
44
353
■f 34
Processing tax
es on farm
products
521
77
- 444
529
-452
Miscellaneous
180
216
-4- .36
183
+ 33
3,800
4,116
4 316
4,411
-295
Income Tax
Miscellaneous
int ernal
revenue
4
$
-
8
EXPENDITURES
Total expenditures during the fiscal year 1935 were $8,880,000,000
(including $403,000,000 of statutory debt retirements) as compared with total
expenditures amounting to $7,376,000,000 during the fiscal year 1935.
In
addition to the $100,000,000 paid to the Adjusted Service Certificate Fund,
the expenditures for the fiscal year 1936 include $1,673,000,000 of payments
to the veterans under the Adjusted Compensation Payment Act of 1936.
Deduct
ing this latter amount from the total expenditures for the year leaves expendi
tures for all other accounts of $7,207,000,000.
This compares with an
estimated expenditure as contained in the 1937 Budget of $7,645,000,000.
The following statement shows by major classifications total expenditure
(in millions of dollars) for the fiscal years 1935 and 1936, and the estimates
of expenditures for the fiscal year 1936 as shown in the 1937 Budget:
•
Actual Expenditures
!
i
1935
General:
Departmental
National Defense
Ve t e r a n s 1 Adrnn*
Adjusted Service
Certificate Fund
Agricultural Adjustment Adrnn.
Emergency Conservation
Work
Debt charges:
Interest
Retirements
Refunds
19*56
i
iIncrease (■+)
Estimate!
or
for 1936!Decrease (-)
:
in the !as compared
1937 iwith 1936
i Increase
( f )
:Decrease (~) Budget :actual
534
764
556
576
4 2I9
4 23O
4 20
50
1,773
♦ 1,723
5b2
505
-
H 36
021
57U
76
403
4,155
$
546
$
765
$
$
023
745
61s
$
+
-
58
19
4
42
100
- 1,673
57
520
4- 23
406
4. 50
520
4' 42
7^9
- 72
- 171
- 22
7U 2
552
70
4 149
6,075
4 1,920
4,706
1,906
499
- 1,407
U29
1,020
2,092
4 1,072
2,245
4 153
a 135
U 30
a 239
453
4
104
23
a 215
400
4
4
Total Recovery
and Relief !
3,221
2,005
«
4l6
2,939
4134
Total Expenditures
7,376
0,000
6 1,504
7,645
.T-*- - --1--r
-1,235
Total Generali
Recovery and Relief!
Relief
Public Works (including
Works Progress Adrnn)
Reconstruction Finance
Corporation
Other
a Excess of credits (deduct)
-
7
4
16
- 1,369
-
7O
24
27 •
- 5 -
THE PUBLIC DEBT
At the close of the fiscal year 193^» the gross public debt
amounted to $33?779,000,000 as compared with the gross public debt of
$28,701,000,000 on June 30 , 1935» an increase of $5,078,000,000.
This
increase in the gross public debt is reflected in part in an increase in
the balance in the general fund which fund amounted to $1,S4l,000,000 on June
30, 1935, and $2,681,000,000 on June 30 , 1936.
The gross public debt as of June 30, 193&, includes outstanding
adjusted service bonds issued in payment of adjusted service certificates
amounting to $9^+5>000,000.
During theryear public debt retirements of $403,000,000 were made
from the sinking fund and other miscellaneous sources as required by law.
These statutory reductions were, however, more than offset by new borrow
ings made necessary by the excess of expenditures over total receipts.
The Government held on May 31? 193^? net assets in the form of
loans and other investments amounting to $4,295*000,000 as compared with
net assets amounting to $4,307,000,000 held on May 31» 1935*
In addition to the gross public debt the Government has certain
contingent liabilities in the form of guarantees as to principal and
interest on outstanding obligations of the Reconstruction Finance Corpora/tion, Federal Farm Mortgage Corporation and Home Owners’ Loan Corporation,
aggregating as of June 30, 193&, about $4,750,000,000 as compared with
$4,150,000,000 as of June 30 , 1935.
FIM.HCI..TG OPERATIONS
The favorable money market conditions which continued through
the fiscal year 193& permitted the Treasury to complete its refunding
- 6 -
operations in connection with the high interest-hearing war debt and
permitted the issue of new debt at lower rates of interest.
The com
puted rate of interest on the interest-bearing debt decreased from 2 .715$
on June 30, 1935 to 2.5^5$ on June 30 > 193&*
Although the debt increased
during the year, total interest payments declined from $821,000,000 in
1935 to $7^9 ,000,000 in 1936.
The following table shows the issues of Treasury notes, Treasury
bonds and United States Savings Bonds offered by the Treasury during the
fiscal year 1936? including refunding operations:
7
Amount
Issued
Issue Date
Maturity Date
Nate
B - 1939
July 15, 1935
Dec. 15, 1939
1-3/8$
$526,233,000
C - 1939
Sept. 16, 1935
March 15, 1939
1-1/2#
941,613,750
C - 1940
Dec. 16, 1935
Dec. 15, 1940
1-1/2#
737,161,600
A - 1941
March 16, 1936
March 15, 1941
I-I/2#
676,707,600
June 15, 1936
June 15, 1941
I-3/ 8#
503,877,500
Treasury Notes:
1941
3,385,593,450
Total Notes
Treasury Bonds:
s
1946 - 48
June 15, 1948
June 15, 1934
(Issued as of July 1, 1935)
3#
112,669,000
1955-60
March 15, 1935 March 15, 1960
(issued as of July 22, 1935)
2-7/8#
101,971,000
1955-60
March 15, 1935 March 15, 1960
( Issued as of Aug. 5, 1935)
2-7/
106,541,000
1955-60
March 15, 1935 March 15, 1960
( Issued as of Aug. 19, 1935)
2-7/8#
98,215,000
1945-47
Sept. 16, 1935
Sept. 15, 1947
2-3/4#
568,717,800
1945-47
Sept. 16, 1935 Sept. 15, 1947
(Issued as of Dec. 16, 1935)
2-3/ M
645,736,100
1948-51
March 16, 1936
March 15, 1951
2-3/ 4# ■ 1,223,496,850
1951-54
June 15, 1936
June 15, 1954
2-3/4#
Total Treasury Bonds
United States Savings Bonds - - - - - - - - - - - - - - - - - - - -
Total "bonds and notes
1,626,688,150
4,484,034,900
254,077,000
$8,123,705,350
On June 24, 1935, the Secretary of the Treasury offered for
cash on a bid basis, an additional issue of $100,000,000, or thereabouts,
of the 5% Treasury bonds of 1946-48 dated June 15, 1934, to be sold at
not less than par and accrued interest.
The total face amount of these
bonds sold as of July 1, 1935, was $112,669,000 at an average price of
about 103-18/32, with a total premium of $4,005,378,18 realized.
On July 15, 1935, the Secretary of the Treasury sold for cash
$526,233,000 face amount of 1-3/8$ Treasury notes of Series B-1939,
maturing December 15, 1939,
The Secretary of the Treasury offered for cash on a bid basis,
additional issues each of $100,000,000, or thereabouts, of 2-7/8$ Treas
ury bonds of 1955-60 dated M arch 15, 1935, to be sold at not less than
par and accrued interest.
The total face amount of these bonds sold as
of July 22, 1935, was $101,971,000,
at an average price slightly above
101-19/32 with a total premium of $1,631,979.42, realized.
The total
face amount of the bonds sold as of August 5, 1935, was $106,541,000,
at an average price of about 101-18/32 with a premium of $1,664,723.18,
realized.
The total face amount of the bonds sold as of August 19, 1935,
was $98,215,000, at an average price of about 100-25/32 with a premium
of $777,150.24, realized.
On March 11, 1935 the 2 $ Consols of 1930 were called for redemp
tion on July 1, 1935,
and the 2$ Panama Canal Loan bonds of 1916-36 and
1918-38 were called for redemption on August 1, 1935.
The amount of
consols redeemed amounted to $596,705,650 and the Panama Canal loan
bonds redeemed amounted to $74,687,260.
- Q
The September 16, 1935 financing consisted of an issue of
2-3/4$ Treasury bonds of 1945-47 and an issue of 3-1/2 year Treasury
notes of Series C-1939 bearing 1-1/2% interest.
Both issues were
offered in exchange for Fourth Liberty Loan 4-1/4% bonds of 1933-38
called for redemption on October 15, 1835,. and at the same time cash
subscriptions for the Treasury notes were invited, at par and accrued
interest, for $500,000,000 or thereabouts.
The amount of Fourth Liberty-
Loan bonds exchanged for the 2-3/4% Treasury bonds of 1945-47 was
$568,717,800, and for the 1-1/2% Treasury notes of Series C-1939 was
$429,179,400, totaling $997,897,200.
In addition the Treasury issued
for cash 1-1/2% Treasury notes of Series C-1939 having a face amount of
$512,434,350.
On December 2, 1935, the Secretary of the Treasury offered for
cash, at par and accrued interest from September 16, 1935, an additional
issue of $450,000,000, or thereaboiits, of 2-5/4% Treasury bonds of 1945-47
dated September 16, 1935, and $450,000,000, or thereabouts, of 5-year
1-1/2% Treasury notes of the Series C-1940.
At the same time the holders
of 2j-l/2% Treasury notes of Series D-1935, maturing on December 15, 1935,
in the amount of $418,291,900, were offered the privilege of exchanging
such notes either for the Treasury’bonds or the new Treasury notes, and
the offering of bonds and notes was subject to increase to the extent of
any such exchanges.
The amount of 2-3/4% Treasury bonds of 1945-47 issued
on December 16, 1935, for cash was $484,423,400 and the amount of 1-1/2%
Treasury notes of Series C-1940 issued for cash was $487,808,700, resulting in
total issues for cash of $972,232,100.
The amount of exchanges of maturing
10
2-l/2$> Treasury notes of Series D—1935 for 2-3/4$ Treasury bonds of 1945-47
was $161,312,700 and for the 1-1/2$ Treasury notes
Series C-1940 was
$249,352,900, resulting in total exchange issues of $410,665,600,
The
combined issue of the Treasury bonds for cash and exchange amounted to
$645,736,100 and of the Treasury notes amounted to $737,161,600,
On March 2, 1936, the Secretary of the Treasury offered for cash,
at par and accrued interest,
$650,000,000, or thereabouts, of 2-3/4$
Treasury bonds of 1948-51, and $600,000,000, or thereabouts, of 5-year
l-l/2$ Treasury notes of Series A-1941, maturing March 15, 1941.
At the
same time the holders df 2-7/8$ Treasury notes of Series C-1936, maturing
on April 15, 1936, in the amount of $558,819,200, were offered the privilege
of exchanging such notes either for the Treasury bonds or the new Treasury
notes, the exchanges tc be made par for par with fin adjustment of accrued
interest as of March 16, 1936, and the offering of bonds and notes was subject
to increase to the extent of any such exchanges.
On March 16, 1936, the
amount of 2-3/4$ Treasury bonds of 1948—51 issued for cash was $727,033,950,
and the amount of 1-1/2$ Treasury notes of Series A-1941 issued for cash
was $628,625,600, resulting in total issues for cash of $1,355,659,550*
The
amount
C-1936
for
cf
for
the
2-3/4$
1-1/2$
resulting
in
issue
the
of
exchanges
$1,223,496,850,
Treasury
Treasury
total
of
bonds
notes
exchange
Treasury
and
of maturing
bonds
the
of
of
of
cash
Treasury
Treasury
1948—51
Series
issues
for
2-7/8$
notes
of
was $496,462,900,
A-1941
was
The
and
amounted
notes
amounted
and
$48,082,000,
$544,544,900.
exchange
Series
to
combined
to
$676,707,600
11
On June 1, 1936, the Secretary of the Treasuury offered for cash,
at par and accrued interest, $600,000,000, or thereabouts, of 2-3/4$
Treasury bonds of 1951-54, and $400,000,000, or thereabouts, of 5-year
1^3/8$ Treasury notes of Series B-1941, maturing June 15, 1941.
The
holders of l-l/8$ Treasury notes of Series E-1936, maturing June 15,
1936, in the amount of $686,816,400, and of 3-1/4$ Treasury notes of
Series A-1936, maturing August 1, 1936, in the amount of $364,138,000,
were offered the privilege of«exchanging such notes either for the Treasury
bonds or the new Treasury notes, the exchanges to be made par for par,
with an adjustment of accrued interest as of June 15, 1936, on notes
of Series A-1936, and the offering of bonds and notes was subject to
increase to the extent of any such exchanges*
The amount of 2-3/4$
Treasury bonds of 1951-54 issued for cash was $670,846,550 and the
amount of 1-3/8$ Treasury notes of Series B-1941 issued for cash was
$435,164,500, resulting in total issues for cash of $1,106,011,050*
The amount of exchange of maturing 1-1/8$ Treasury notes of Series
E-1936 and of 3-1/4$ Treasury notes of Series A-1936, for 2-3/4$
Treasury bonds of 1951-54 was $955,841,600, and for the 1-3/8$ Treasury
notes of Series B-1941 was $68,713,000, resulting in total exchange
issues of $1,024,554,600.
The combined issue of the Treasury bonds
for cash and exchange amounted to $1,626,688,150, and of the Treasury
notes amounted to $503,877,500.
The amount of Treasury bills outstanding June 30, 1936, was
$2,353,516,000, as compared with $2,052,898,000 outstanding June 30,
1935, an increase of $300,618,000*
have^also/exhibited a marked proficiency under Coast Guard target training»
Six
Cities in the New Orleans division have a 100 percent
rating for the number of men to qualify for both classes of arms# Kixaxrwrttgy The
f a y
Seattle M M H H W division^-eawhakscEt
stations where all officers <
/
'£-<?
qualified with both types of firearm^***''
k
?
i
Si
/
/
Cities where all men under training have qualified with both £
*22
and *38 or «4$ caliber gund, and the number of Officers ,follow:
Barring,He«,1 j Robinston,He«,l ;
% St «Albans I
Vto, 22j New Haven Conn«, 7jAtlantic City,ftfcpc 3 | Beokley,W.Va«, 4$ Charleston,W*Va0|j
6: Clarksburg,W.Va*, 3| Cumberland,Md«,3 | Hagerstown,Md«, 4 j.Charleston,S.C., 20 |
tO~ju*/- f
A
r^ L if t^ ! *
*\
^
t 7&Ci* 4*s?
#y 'J. J
Orlando,Fla«, 2 $ Port Arthur,Tex,14j Corpus Christi,8j Del Rio, Tex«, 11 jiMobile,Ala'
l«LO | M
i n O v j r l «JJ# | «LO
15j Little Rock,Ark«, 13| Oklahoma City,27j Grand Forks,N.D«,18,
Minot*N.D.,
15
pyjt
J
,MnM*\Ê7
La Grande,Ore«,4 $ Bellingham,Wash«, ïâ&Bg 18 % Hoquiam,Wash*,9 jyjPoint Roberts,Wash*,
5,/Tacoma,Wash«, 10 $
To meet preliminary qualifications with a «22 caliber pistol
a marksman must score a minimum of 140 points pzkOxshoix of a possible 200 , from
20
shots fired at 10 yards in 20 seconds •
To pass advanced qualifications with a «22 caliber gun a
marksman must score 240 or more out of a possible 300, 30 shots at 15 yards in 20
seconds«
For qualification with .38 or .45 caliber pistol# the marksman
must make a score of 210 out of a possible 300 J 30 shots,slow fire at 15 yards ^
If
f
he>M i »
score^ from 240 to 270 he is rated a sharpshooter« Above 270 the rating
is expert pistol shot«
The training is conducted by 38 Coast Guard pistol experts
stationed at Washington,New York,Boston, Chicago,Cleveland,Norfolk,Jacksonville,Fla*,
New Orleans, San Franciscop and Seattle«
Ratings of all cities under instruction are available at
^ o m No« 289 Treasury buildingo
-em -
%
/ '/ /
Increasing proficiency with firearms of^Treasury department
iu u n e d. by Comdr* J.E.Stika, Coast
law enforcement officers is shown in a survey
^ y e ig a i6 6 iB ie # i^ 6 S iS i
Guard Ordnance officer charged with t r a i n i n g * # enforcement personnel© Since
October,1934 w h e n * # training was begun, Coast® Guard
small arms experts have
given target JSSSNSS to men in all branches of the treasury as well as 1# guards
St0M
#»•
«Supreme Court, Post “Office inspectors, U.S.Marshals,
Immigration officials/'guards at Federal Home Loan Banks
M
• Treasury branches under small arms training include the Customs Bureau
Alcohol Tax Unit
the Bureau of
latorwal1Re
Ifercotics Bureau, Bureau of the Minty
¿C£b*f
Engraving and Printing#!
p i <c?eu
preasury
Yfhen the Woast Guard pistol experts began training/
in S # services
enforcement officers there were 10ss than 500
men/4iho could qualify
, 14 > ^
< T *7
for preliminary training with a «22 caliber pistol©
there were-^pil
- m
m
#
I s #
law enforcement officers under training, of whom msansxidasxiiEySaSd had qualified in
target practice with *22 caliber small arms^
3, $ V
^
»~*-***~*<«
Only a corporal*s guard was acquainted with *38 and «45
caliber small arms when the Coast Guard marksmen took over the duty of training, whil
------------ :—
3 . 3 Z
¥
at present there are apissSBSdbaKliftlyfaSs^esfi
who have qualified innthe advanced use
The best record of advancement made in any section of the
country was made bv ihaz&flwz&zixx men of the New Orleans division where tiosxfi&Bx
of the S&0 b r o
men/under instruction have gKXXwift qualified with «22 caliber arms, and SSS* have
passed advance qualifications with «38 and *45 caliber small arms*This region
includes Texas,Louisiana,Arkansas and Oklahoma*
While the men from the Southwest
have made an excellent
û ^A A
record in the use of small arms, officers of the Boston*
Norfolk.Divisions
h
TREASURY DEPARTMENT
Washington
POR RELEASE, AFTERNOON NEWSPAPERS,
Tuesday« July 7, 1956»____________
7-3-36
Press Service
No, 7-81
Increasing proficiency with, firearms of Treasury Department law enforcement
officers is shown in a survey hy Commander J.E. Stika, Coast Guard Ordnance officer
charged with training enforcement personnel.
Since October, 1934, when training
was begun* Coast Guard small arms experts have given target'instructions to men in
all branches of the Treasury as well as to guards of the U,S, Supreme Court, Post
Office inspectors, U.-S, Marshals, Immigration officials and guards at Federal Home
Loan Banks.
Treasury branches under small arms training include the Customs Bureau,
Alcohol Tax Unit, Narcotics Bureau, Bureau of the Mint, Bureau of Engraving and
Printing and the Secret Service,
When the Coast Guard pistol experts began training Treasury enforcement
officers, there were less than 500 men in service who could qualify for preliminary
training
with a *22 caliber pistol.
On June 1, 1936, there were 5,773 law
enforcement officers under training, of whom 4,684 had qualified in target practice
with ,22 caliber small arms; 3,874 passed advanced tests.
Only a corporal*s guard was acquainted with .38 and .45 caliber small arms
when the Coast Guard marksmen took over the duty of training, while at present
there are 3,324 who have qualified in the advanced courses in these weapons.
The best record of advancement made in any section of the country was made by
men of the New Orleans division where 614 men of the 648 under instruction have
qualified with .22 caliber arms, and 551 have passed advanced qualifications with
.38 and .45 caliber small arms.
This region includes Texas, Louisiana, Arkansas
and Oklahoma,
While the men from the Southwest have made an excellent record in the use of
small arms, officers of the Boston, Norfolk and Seattle divisions also have
exhibited a marked proficiency under Coast Guard target training.
Six cities in the New Orleans division have a 100 percent rating for the number
of men to qualify for both classes of arms.
The Seattle division had six stations
where all officers qualified with both types of firearms* while the Norfolk division
had five*
Cities were all men under training have qualified with both .22 and .38 or .45
caliber guns, and the number of officers, follow:
Baring, Me., 1; Robinston, Me., 1; St. Albans, Vt., 22; New Haven, Conn*, 7;
Atlantic City, N.J., 3; Beckley, W. Va., 4; Charleston, W. Va., 6; Clarksburg,
W. Va., 3; Cumberland, Md., 3; Hagerstown, Md., 4; Louisville, Ky., 8; Charleston,
S.C., 20; West Palm Beach, Pla., 1; Orlando, PIa., 2; Port Arthur, Texas, 14;
Corpus Christi, 8; Del Rio, Texas, 11; Gulfport, Miss., 2;.Mobile, Ala., 15;
Little Rock, Ark., 13; Oklahoma. City, 27; Grand Porks, N.D., 18; Minot, N.C., 15;
La Grande, Ore., 4; Bellingham, Wash., 18; Hoquiam, Wash., 9; Port Angeles, Wash#;,
7; Point Roberts, Wash., 5; Tacoma., Wash., 10; and San Juan, P.R., 5.
To meet preliminary qualifications with a .22 caliber pistol a marksman must
score a. minimum of 140 points of a possible 200, from 20 shots fired at 10 yards in
20 seconds.
To pass extvanced qualifications with a .22 caliber gun a marksman must score
240 or more out of a possible 300, 30 shots at 15 yards in 20 seconds.
Por qualification with .38 or .45 caliber pistols the marksman must make a
score of 210 out of a possible 300; 30 shots, slow fire a.t 15 yards.
from.240 to 270 he is rated a sharpshooter.
If he scores
Above 270 the rating is expert pistol
shot*.
The training is conducted by 38 Coa.st Guard pistol experts stationed at Washing
ton, New York, Boston, Chicago, Cleveland, Norfolk, Jacksonville, Pla.., New Orleans,
San Prancisco and Seattle.
ooOoo
Note;
Ratings of all cities under instruction are available at Room 289, Treasury
Department.
-2-
In addition to refunding this indebtedness the way is now clear
for the payment of dividends of 10% to the creditors of each bank which will
be authorized immediately but cannot be distributed until the two receivers
have completed the clerical detail requiring thirty days or more.
By these
dividends approximately $850,000.00 will be placed in circulation in
Chattanooga thru payments to 20,000 depositors.
A previous dividend of 4-0%
was distributed in 1933 and the creditors will have received a total of 50%
of their claims when this payment becomes effective.
The repayment of the loans made by the four banks is assured by
the value of the assets of the insolvent bank which are appraised at more
than double the amount of the advances.
Not only will the receivership
obtain a lower interest rate but the receiver will be enabled to proceed
with liquidation in an orderly and constructive manner without delaying the
returns to the depositors.
TREASURY DEPARTMENT
Washington.
FOR RELEASE, SUNDAY EDITIONS,
Sunday, July 5, 1936,_______
/
7-3-36.
William Prentiss, Jr., Deputy Comptroller of the Currency, today
announced that Paul Kent, Receiver of the Chattanooga National Bank, of
Chattanooga, Tennessee, has been authorized to borrow the sum of $2,100,000.00
from four prominent banks of the State of Tennessee.
This loan is being made
pursuant to the desire recently expressed by Fury« J • F. T. 0*Connor, Comptroller
of the Currency that banks make the loans to receivers of insolvent national
banks for dividend purposes heretofore advanced by the Reconstruction Finance
Corporation.
The negotiations between the lending banks, the receiver and
the Treasury have been carried on by K .
T. R. Preston, President of the
Hamilton National Bank of Chattanooga whose untiring efforts have brought
about the success of the plan.
Those banks which participate in the loan are the Hamilton National
Bank of Chattanooga, the Hamilton National Bank of Knoxville, the Union
Planters National Bank and Trust Co. of Memphis, and the American National
Bank of Nashville, Tennessee.
This loan makes effective a plan which has been under consideration
for several months and which was recently reviewed and approved by the courts
whereby the tangled relationship of the closed First National Bank and
Chattanooga National Bank is clarified and a total indebtedness to the
Reconstruction Finance Corporation of approximately $1,500,000.00 is paid.
The receiver will pay the banks interest at
charged by the Corporation.
3% in place of J$ heretofore
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Sunday, July 5, 1936,________ _
7-3-36,
Press Service.
No, 7~82
William Prentiss, Jr,, Deputy Comptroller of the Currency, today announced
that Paul Kent, Receiver of the Chattanooga National Bank of Chattanooga, Tennessee,
has been authorized to borrow the sum of $2,100,000,00 from four prominent banks
of the State of Tennessee,
This loan is being made nursuant to the desire recently
expressed by J.E.T. O ’Connor, Comptroller of the Currency that banks make the loans
to receivers of insolvent national banks for dividend purposes heretofore advanced
by the Reconstruction Finance Corporation,
The negotiations between the lending
banks, the receiver and the Treasury have been carried on by T,R, Preston, President
of the Hamilton National Bank,of Chattanooga whose untiring efforts have brought
about the success of the plan.
Those banks which participate in the loan are the Hamilton National Bank of
Chattanooga, the Hamilton National Bank of Knoxville, the Union Planters National
Bank and Trust Company of Memphis, and the American National Bank of Nashville,
Tennessee,
This loan makes effective a plan which has been under consideration for several
months and which was recently reviewed and approved by the courts whereby the tangled
relationship of the closed First National Bank and Chattanooga, National Bank is
clarified and a total indebtedness to the Reconstruction Finance Corporation of
approximately $1,500,000,00 is paid.
The receiver will pay the banks interest p,t
3$ in place of 4$ heretofore charged by the Corporation,
~2*
In addition to refunding this indebtedness the way is now clear for the payment
of 10$ to the creditors of each bank which will be authorized immediately but
cannot be distributed until the two receivers have completed the clerical.detail
requiring thirty days or more*
3y these dividends approximately $850,000*00 will
be planed in circulation through payments to 20,000 depositors*
A previous dividend
of 40$ was distributed in 1933 and the creditors will have received a, total of
50$ of their claims when this payment becomes effective*
The repayment of the loans made by the four banks is assured by the value of
the assets of the insolvent bank which are appraised at more than double the
amount of the advances*
Hot only will the receivership obtain a lower interest
rate but the receive will be enabled to proceed with liquidation in an.orderly
and constructive manner without delaying the returns to the depositors*
ooOoo
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
July 6, 1936.
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OPPICES:
(Under Executive Proclamation of December 21,1933) as amended
Week ended July 3, 1936:
Philadelphia................. ...................
San Francisco ................................ .
..
Denver ..... ............................. ....... ..
Total for week ended July 3, 1936........... •......
Total receipts through July 3, 1936................
.843,255.96 fine ounces
68,594.41 tr
it
15,439.41 tt
it
it
927,289.78
it
89,868,493.92 it
h
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended July 3, 1936:
Philadelphia....................................
New York ........ *..............................
San Francisco ...................................
"Denver
.........................................
New Orleans.......................................
Seattle................................ ..........
Total for week ended July 3, 1936 .... .............
Total receipts through July 3, 1936 ............... ..
2,671.00
2,524.35
42.00
5,237.35
112,972,966,29
!t
tt
tt
it
t!
«
ti
it
it
ti
»
ti
n
it
it
it
RECEIPTS OF G-OLD BY THE MINTS AND ASSAY OFFICES:
Week ended July 3, 1936:
Imports____
Philadelphia.... ............ $
13,172.63
New Y o r k ....................
5,877,800.00
San Francisco..... ...»......
1,154,026.56
31,337.51
Denver ......................
New Orleans ......
332.89
Seattle ....................
...
Total for week ended July 3, 1936 $7,076,669.59
Secondary
$261,995.10
301,400.00
23,285.39
13,982.56
23,468.64
9.964.47
$634,076.16
New Domestic
2,068.08
82,000.00
1,184,209.19
643,011.39
414.33
315.156.33
$2,226,859.32
$
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER* S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Week ended July 1 , ............. $
8,194.38
Received previously........ .
31.615,372.46
Total to July 1 .... ........... $31,623,567.84
Gold Certificates
$
175,550.00
108,999,650.00
$109,175,200.00
Received by Treasurer’s Office:
Week ended July 1 .............
Received previously...........
Total to July 1 ...............
$
NOTE:
$
$
.---268.256.00
268,256.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
$
5,200.00
2,469,320.00
2,474,520.00
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
__________JUNE 1 9 5 6 ______________________
Bank,
Bank,
Nat1!
Bank,
Bank,
Per Cent
Total
Returns
to all
Creditors:
5-5-51
5-4-29
2-15-55
8-17-51
12-20-50
104,799.00
284,824.00
60,505.00
145,700.00
240,455.00
65.58
62.66
89.55
59.22
77.86
Date of
Failure:
Receiverships:
First National
First National
Bozeman Waters
First National
First National
Total
Disbursements
including
Offsets Allowed:
Pomeroy, Iowa
Sebring, Florida
Bk., Poseyville, Ind. 1/
Lehigh, Iowa
Rock Rapids, Iowa
Per Cent
Dividends
Paid
Unsecured
Claimants:
51.9
50.7
30.6461
57.64
69.4
First
First
First
First
First
National Bank, Glasgow, Kentucky
National Bank, Macedon, New York
National Bank, Bancroft, Idaho
Nat*l Bank, New Windsor, Md.
National Bank, Warren, Indiana
4-15-32
4-10-31
8-20-51
10-19-31
12-7-28
304,466.00
243,227.00
78,581.00
443,807.00
126,938.00
82.58
74.49
99.64
92.89
62.15
77.23
70.07
111.65
92.46
58.
First
Firét
First
First
First
National Bank, Rock Lake, N. D*
National Bank, Pollock, S. D.
National Bank, Dillwyn, Va. 1/
National Bank, Newport, Tenn.
Nat*l Bank, Greene, New York 1/
12-8-33
10-15-51
01-21-32
12-4-30
10-20-34
37,600.00
61,127.00
24,066.00
441,786.00
187,856.00
64.12
57.1
92.
90.5
69.1
29.5
92.0129
88.95
15.2114
Granville National Bank, Granville, N.Y. 1/
11-21-32
127,959.00
72.02
19.54914
1/
Receiver appointed to levy and collect stock assessment covering
deficiency in value of assets sold, or to complete unfinished
liquidation.
8.22
- A
-
1932, the liabilities of the institution having theretofore been assumed by another
bank*
The receiver was appointed for the purpose of collecting an assessment against
the stockholders to cover a deficiency in the assets sold.
Disbursements during re
ceivership, including offsets allowed, aggregated $127,939* which represented 72.02
per cent of total liabilities.
Dividend payments during June, 1936, by all receivers of insolvent national banks
to the creditors of all active receiverships aggregated $$,019*54-3•
Dividend payments to the creditors of all active receiverships since the banking
holiday of March, 1933* aggregated $730,763*34-5.
- 3 positors received dividends amounting to 58 per cent of their claims.
The First National Bank of Rock Lake, North Dakota, in receivership December
8, 1933; disbursements, including offsets allowed, to depositors and other creditors
aggregated $37,600, which represented 64*12 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 29*5 per cent of their claims.
The First National Bank of Pollock, South Dakota, in receivership October 13,
1931; disbursements, including offsets allowed, to depositors and other creditors ag
gregated $61,127, which represented 37.1 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 3.22 per cent of their claims.
The First National Bank of Dillwyn, Virginia, in receivership November 21, 1932,
the liabilities of the institution having theretofore been assumed by another bank.
The receiver was appointed for the purpose of collecting an assessment against the
stockholders to cover a deficiency in the assets sold.
Disbursements during receiver
ship, including offsets allowed, aggregated $24,066, which represented 92 per cent of
total liabilities.
The First National Bank of Newport, Tennessee, in receivership December 4, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $441>786, which represented 90.5 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 33.95 per cent of their claims.
The First National Bank of Greene, New York, in receivership October 20, 1934,
the liabilities of the institution having theretofore been assumed by another bark.
The receiver was appointed for the purpose of collecting an assessment against the
stockholders to cover a deficiency in the assets sold.
Disbursements during receiver
ship, including offsets allowed, aggregated $137,856, which represented 69.1 per cent
of total, liabilities.
The Granville National Bank of Granville, New York, in receivership November 21,
-
2
-
$14-5>700, which represented 59.22 per cent of total liabilities.
Unsecured deposi
tors received dividends amounting to 57.64- per cent of their claims.
The First National Bank of Rock Rapids, Iowa, in receivership December 20, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $240,4-35, which represented 77.86 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 69*4- per cent of their claims.
The First National Bank of Glasgow, Kentucky, in receivership April 15, 1932;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $304-,4-66, which represented 82.58 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 77.23 per cent of their claims.
The First National Bank of Macedon, New York, in receivership April 10, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $24-3,227, which represented 74-.4-9 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 70.07 per cent of their claims.
The First National Bank of Bancroft, Idaho, in receivership August 20, 1931;
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 11.65 per cent.
Total payments to cred
itors, including offsets allowed, aggregated $ 78,581, and the stockholders received
$3,900 together with the assets remaining uncollected.
The First National Bank of New Windsor, Maryland, in receivership October 19,
19315 disbursements, including offsets allowed, to depositors and other creditors
aggregated $443,807, which represented 92.89 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 92.4-6 per cent of their claims.
The First National Bank of Warren, Indiana, in receivership December 7, 1928;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $126,938, which represented 62.15 per cent of total liabilities.
Unsecured de-
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
William Prentiss, Jr., Acting Comptroller of the Currency, today announced
the completion of the liquidation of 16 receiverships during June, 1936, making
a total of 4.05 receiverships finally closed or restored to solvency since the
so-called banking holiday of March, 1933.
Total disbursements, including off
sets allowed, to depositors and other creditors of these 4.05 institutions, ex
clusive of the 4-2 receiverships restored to solvency, aggregated f112,064., 736, or
an average return of 74-.36 per cent of total liabilities, while unsecured depositors
received dividends amounting to an average of 58.94. per cent of their claims.
The First National Bank of Pomeroy, Iowa, in receivership May 5> 1931; dis
bursements, including offsets allowed, to depositors and other creditors, aggre
gated $104.,799, which represented 63.5& per cent of total liabilities.
Unsecured
depositors received dividends amounting to 51.9 per cent of their claims.
The First National Bank of Sebring, Florida, in receivership May 4-, 1929; dis
bursements, including offsets allowed, to depositors and other creditors, aggregated
$284.,824., which represented 62.66 per cent of total liabilities.
Unsecured deposi
tors received dividends amounting to 30.7 per cent of their claims.
The Bozeman Waters National Bank of Poseyville, Indiana, in receivership Febru
ary 13, 1933 y the liabilities of the institution having theretofore been assumed by
another bank.
The receiver was appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold.
Disburse
ments during receivership, including offsets allowed, aggregated f60,503, which rep
resented 89.33 per cent of total liabilities.
The First National Bank of Lehigh, Iowa, in receivership August 17, 1931; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Wednesday. July 8, 1936_________
7-3-36*
Press Service
No* 7-83
William Prentiss, Jr., Acting Comptroller of the Currency, today announced
the completion of the liquidation of 16 receiverships during June, 1936, making
a total of 405 receiverships finally closed or restored to solvency since the
so-called hanking holiday of March, 1933*
Total disbursements, including off
sets allowed, to depositors and other creditors of these 405 institutions, ex
clusive of the 42 receiverships restored to solvency, aggregated $112,064,736, or
an average return of 74.36 per cent of total liabilities, while unsecured deposit
ors received dividends amounting to an average of 58*94 percent of their claims.
The First National Bank of Pomeroy, Iowa, in receivership May 5, 1931; dis
bursements, including offsets allowed, to depositors and other creditors, aggre
gated $104,799, which represented 63*58 per .cent of total liabilities.
Unsecured
depositors received dividends amounting to 51*9 per cent of their claims*
The First National Bank of Sebring, Florida, in receivership May 4, 1929;
disbursements, including offsets allowed, to depositors and other creditors,
aggregated $284,824, which represented 62*66 per cent of total liabilities*
Unsecured depositors received dividends amounting to 30*7 per cent of their claims*
The Bozeman Waters National Bank of Poseyville, Indiana, in receivership
February 13, 1933, the liabilities of the institution having theretofore been
assumed by another bank.
The receiver was appointed for the purpose of collecting
an assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during.receivership, including offsets allowed, aggregated $60,503,
which represented 89.33 per cent of total liabilities*
The First National Bank of Lehigh, Iowa, in receivership August 17, 1931;
disbursements, including offsets allowed,.to depositors and other creditors
aggregated $145,700, which represented 59*22 per cent of total liabilities.
Unsecured depositors received dividends amounting to 57.64 per cent of their
claims.
The First National Bank of Rock Rapids, Iowa, in receivership December 20,
1930; disbursements, including offsets allowed, to depositors and other credit^
ors aggregated $240,435, which represented 77.86 per cent of total liabilities.
Unsecured depositors received dividends amounting to 69.4 per cent of their
claims.
The First National Bank of Glasgow, Kentucky, in receivership April 15,
1932; disbursements, including offsets allowed, to depositors and other credit*^
crs aggregated $304,466, which represented 82.58 per cent of total liabilities.
Unsecured depositors received dividends amounting to 77.23 per cent of their
claims.
The First National Bank of Macedon, New York, in receivership April 10,
1931; disbursements, including offsets allowed, to depositors and other credit
ors aggregated $243,227, which represented 74.49 per cent of total liabilities.
Unsecured depositors received dividends amounting to 70.07 per cent of their
claims*
The First National Bank of Bancroft, Idaho, in receivership August 20,
1931; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 11.65 per cent.
Total
payments to creditors, including offsets allowed, aggregated $78,581, and the
stockholders received $3,900 together with the assets remaining uncollected.
The First National Bank of New Windsor, Maryland, in receivership October
19, 1931; disbursements, including offsets allowed,_to depositors and other
creditors aggregated $443,807, which represented 92.89 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 92.46
per cent of their claims
The First National Bank of Warren, Indiana, in receivership December 7, 1928;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $126,938, which represented 62#15 per cent of total liabilities# .Unsecured
depositors received dividends amounting to 58 per cent of their claims#
The First National Bank of Rock Lake, North Dakota., in receivership December
8, 1933; disbursements, including offsets allowed, to depositors and other credit
ors aggregated $37,600, which represented 64#12 per cent of total liabilities#
Unsecured depositors received dividends amounting to 29#5 per cent of their claims
The First National Bank of Pollock, South Dakota, in receivership October 13,
1931; disbursements, including offsets allowed, to depositors and other creditors
aggregated $61,127, which represented 37#1 per cent of total liabilities* Un
secured depositors received dividends amounting to 8*22 per cent of their claims#
The First National Bank of Dillwyn, Virginia, in receivership November 21,
1932, the liabilities of the institution having theretofore been assumed by
another bank#
The receiver was appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold#
Disburse
ments during receivership, including offsets.allowed, aggregated $24,066, which
represented 92 per cent of total liabilities#
The First National Bank of Newport, Tennessee, in receivership December 4,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $441,786, which represented 90#5 per cent of total liabilities#
Un
secured depositors received dividends amounting to 88#95 per cent of their claims#
The First National Bank of Greene, New York, in receivership October 20, 1934
the liabilities of the institution having theretofore been assumed by another bank
The receiver was appointed for the purpose of collecting an assessment against the
stockholders to cover a deficiency in the assets sold#
Disbursements daring
receivership, including offsets allowed, aggregated $187,856, which represented
69#1 per cent of total liabilities#
— 4—
The Granville National Bank of Granville, New York,, in receivership November
21, 1932, the liabilities of the institutinn having theretofore been assumed by
another bank*
The receiver wa„s appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold.
Disburse
ments during receivership, including offsets allowed, aggregated $127,939, which
represented 72.02 per cent of total liabilites*
Dividend payments during June, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $5,019,543.
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $730,763,345.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
___________________ JUNE 1936_________________________
Date of
Failure :
Receiverships:
First National
First National
Bozeman Waters
First National
First National
Bank,
Bank,
Nat »1
Bank,
Bank,
Pomeroy, Iowa
Sehring, Florida
Bk., Poseyville, Ind. 1J
Lehigh, Iowa
Rock Rapids, Iowa
5-5-31
5-U-29
2-13-33
8- 17-31
12- 20-30
Total
Di shur semen ts
including
Offsets Allowed:
$
10U, 799.00
284,824*00
60,503•00
145,700.00
2l+0,>+35.00
First
First
First
First
First
National Bank, Glasgow, Kentucky
National Bank, Macedon, New York
National Bank, Bancroft, Idaho
Nat’1 Bank, New Windsor, Md,
National Bank, Warren, Indiana
>+-15-32
4-10-31
8- 20-31
10- 19-31
12-7-28
304,466.00
2^+3 ,227.00
78,581.00
443,807.00
126,938.00
First
First
First
First
First
National Bank, Rock Lake, N. D.
National Bank, Pollock, S. D.
National Bank, Dillwyn, Va. 3J
National Bank, Newport, Tenn.
Nat’l Bank, Greene, New York 1/
12-8-33
IO-I3- 3I
II-2I-32
12-4-30
10-20-34
37,600.00
61,127.00
24, O 66.OO
k k l , 786.00
Granville National Bank, Granville, N.Y. 1J
11- 21-32
if
Per Cent
Total
Returns
to all
Creditors :
63.5s
62.66
Per Cent
Dividends
Paid
Unsecured
Claimants:
77.86
51.9
30.7
30.6461
57.6I+
69.k
82.58
74.49
77.23
70.07
3 3 .6 k
111.65
92.89
92.46
53.
39.33
59.22
62.15
6 k . 12
29.5
8.22
92.0129
8S .95
187,856.00
37.1
92.
90.5
69.1
127,939.00
72.02
19,54914
Receiver appointed to levy and collect stock assessment covering
deficiency in value of assets sold, or to complete unfinished
liquidation.
15.2114
TREASURY DEPARTMENT
Washington
FOR RELIAR* IGENISS NEWSPAPERS,
Tuesday.
?. 1936........
7/6/36
Press Service
"¡-gU
Acting Secretary of the Treasury Taylor announced last
eTening that the tenders for 150,000,000, or thereabouts,
of 273-day Treasury hills, dated July 8, 1936, and maturing
April 7, 1937, which were offered on July 3, were opened at
the Federal Beserve banks on July 6*
The total amount applied for was 1179,143,000, of wM eh
150,000,000 was accepted. The accepted bids ranged in price
from 99.955, equivalent to a rate of about 0.059 percent per
annum, to 99.939, equivalent to a rate of about 0.080 percent
per annum, on a bank discount basis. The average price of
Treasury bills to be issued is 99.949 and the average rate
is about 0.067 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
Press Service
No. 7-84
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday« July. 7« 1936» _____ _
7-6-36
Acting Secretary of the Treasury Taylor announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated
July 8, 1936, and maturing April 7, 1937, which were offered on July 3, were
opened at the Federal Reserve hanks on July 6.
The total amount applied for was $179,143,000, of which $50,000,000
was accepted.
The accepted hids ranged in price from 99.955, equivalent to
a rate of about 0.059 percent per annum, to 99.939, equivalent to a rate of
about 0.080 percent per annum, on a hank discount basis.
The average price
of Treasury hills to he issued is 99.949 and the average rate is about 0,067
percent per annum on a hank discount basis.
ooOoo
STAfWEJ?? HSCr im
M
TASAL W m j
40
OF POLIOMY.XITI!
The recent experimental work by Ore* Armstrong and Harrison in preventir.g poliomyelitis in monkeys by tbs ns© of a nasal spray has axeltad so much
interest and speculation that the Public Health service deems it desirable to
issue the following statement:
"The evidence regarding this method Is as yet based entirely upon
ani al experimentation and the proposed spray is not at present to be regarded
as of proven value in the prevention of poliomyelitis in man-*
Perhaps it would
be advisable to await the results of further trials before giving the method
gene m l application*
If it is desired to use the solution it should be ©prayed
Into the nostrils three or four times on alternate days-, and thereafter weekly
during the prose;ee of poliomyelitis*
The nasal spraying should be thorough
and the solution should reach the pharynx as well* when a bitter taste will
be noted*
lha early applications at least should be administered by a physician,»
The experimental work on animals is still being pursued*
iherofore, the
tentative procedure is subject to such changes as may he dictated by future
findings*
"The most effective solution so far developed during experimentation
on taon.
..vs is prepared as follows»
Solution/** - Dissolve one gram (1 gm* ) of picric acid
In 100 cc* of physiological salt solution {0*854). (Warming
facilitates solution of the picric acid}»
Solution B - Dissolve 1 gram {1 ga*) of sodium aluminum
sulphate (sodium alum) in 100 cc* of physiological salt solution
(0*85^}. «ny turbidity in this solution should be removed by
filtering one or more times through the same filter paper*
feix solutions A and B in equal amounts* ifee resulting mixture,
which contains 0*54 picric acid and 0*5;% alum, is sufficiently
antiseptic to prevent the growth of organisms and is ready for
use as a spray," Homemade concoctions are not favored*
While predictions cannot be made concerning epidemics, it is the
opinion of the Public Health Service that there are no indications that
poliomyelitis will be unduly prevalent this suaaaer*
7
' / r
ing poliomyelitis in monkeys by the use of a nasal spray has excited so much
interest and speculation that the Public Health Service deems it desirable to
issue the following statement:
¿¡pThe evidence regarding this method is as yet based entirely upon
animal experimentation and the proposed spray is not at present to be regarded
as of proven value in the prevention of poliomyelitis in man*
Perhaps it would
be advisable to await the results of further trials before giving the method
general application.
If it is desired to use the solution it should be sprayed
into the nostrils three or four times on alternate days, and thereafter weekly
during the presence of poliomyelitis*
The nasal spraying should be thorough
and the solution should reach the pharynx as well, when a bitter taste will
be noted.
The early applications at least should be administered by a physician.
The experimental work on animals is still being pursued*
therefore, the
tentative procedure is subject to such changes as may be dictated by future
findings*
J^The most effective solution so far developed during experimentation
on monkeys is prepared as follows;
SolutionA* - Dissolve one gram (1 gm.) of picric acid
in 100 cc. of physiological salt solution (0*85%). (Warming
facilitates solution of the picric acid).
Solution B - Dissolve 1 gram (1 gm. )?of sodium aluminum
sulphate (sodium alum) in 100 cc. of physiological salt solution
(0.85$). Any turbidity in this solution should be removed by
filtering one or more times through the same filter paper.
Mix solutions A and B in equal amounts, ihe resulting mixture,
which contains 0.5$ picric acid and 0.5$ alum, is sufficiently
antiseptic to prevent the growth of organisms and is ready for
use as a spray*** Homemade concoctions are not favored.
While predictions cannot be made concerning epidemics, it is the
opinion of the Public Health Service that there are no indications that
poliomyelitis will be unduly prevalent this summer.
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Tuesday, July 7, 1936.
Press Service
No, 7~85
The experimental work conducted during the past year "by Drs, Charles Armstrong
and W.T. Harrison of the United States Public Health Service in preventing
poliomyelitis in monkeys "by the use of a nasal spray has excited so much interest
and speculation that the Public Health Service deems it desirable to issue the
S || I
following statement:
The evidence regarding this method is as yet based entirely upon animal
experimentation and the proposed spray is not at present to be regarded as of
proven value in the prevention of poliomyelitis in man.
Perhaps it would be
advisable to await the results of further trials before giving the method general
application.
If it is desired to use the solution it should be sprayed into the
nostrils three or four times on alternate days, and thereafter weekly during the
presence of poliomyelitis-.
The nasal spraying should be thorough and the solution
shotild reach the pharynx as well, when a bitter taste will be noted.
applications at least should be administered by a physician.
work on animals is still being pursued.
The early
The experimental
Therefore, the tentative procedure is
subject to such changes as may be dictated by future findings.
The most effective solution so far developed during experimentation on
monkeys is prepared as follows:
Solution A, - Dissolve one gram (l gm,) of picric acid in 100 cc, of
physiological salt solution (0,85$), (Warming facilities solution of the
picric acid).
Solution B, - Dissolve 1 gram (l gm,)' of sodium aluminum sulphate
(sodium alum) in 100 cc* of physiological salt solution (0,85$), Any
turbidity in this solution should be removed by filtering one or more times
through the sane filter paper, ,
Mix solutions A and B in equal amounts. The resulting mixture, which
contains 0,5$ picric acid and 0,5$ alum, is sufficiently antiseptic to
prevent the growth of organisms and is ready for use as a spray.
Home made
concoctions are not favored.
While predictions cannot be made concerning epidemics, it is the opinion
of the Public Health Service that there are no indications that poliomyelitis will
be unduly prevalent this summer.
ooOoo
IMPORTS OF CATTLE UNDER QUOTA PROVISIONS OF THE
CANADIAN TRADE AGREEMENT
During the Period January 1 to June 27, 1956
(Preliminary Figures)
:
Cattle
: Under 175
: Pounds
:
(Head)
TOTAL IMPORTS
Percent of quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
54,473
66 #4$
14,790
«
2,178
-292
•
17
332
:
:
$
:
Cattle 700
Pounds or
More
(Head)
129,245
83,0%
:
:
:
:
Dairy Cows
700 Pounds
or Mfore
(Head)
2,555
12.8#
a.
10
6,184
3,994
1,233
25,944
3,468
20,810
163
59
562
5,561
36,705
854
1,263
2,136
22
138
279
13,429
33,177
111,393
2,555
402
158
731
5
6,290
6,594
4,968
-
«•
•
1,296
17,852
-
nm
9
4,136
12
527
•
38
»
«»
31
•
•
189
1,649
111
1
-
Immediate Release
o
*
T^e
Commissioner of Customs today
announced preliminary
f^guresjforJ
^E«nui$orÌsof cattle under the quota provisions
of the Canadian
trade agreement, for the period January 1 to June 27, 1936, and the
percentage^ that such
quota provisions.
The
imports hear to the totals allowable under the
statement is as follows:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, July 9, 1936.
Press Service
No. 7-86
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreernènt,
for the period January 1 to June 27, 1936, and the percentage that such imports
bear to the totals allowable under the quota provisions.
The statement is as
follows*
IMPORTS OF CATTLE UNDER QUOTA PROVISIONS
of the
CANADIAN TRADE AGREEMENT
TOTAL IMPORTS
Percent of quota
During the Period January 1 to June 27, 1936
__________ (Preliminary Figures) ____________
Cattle
Cattle 700
Dairy Cows
Under 175
Pounds or
700 Pounds
Pounds
More
or More
(Head)
(Head)
(Head)
34,473
129,245
2,555
66.4$
83.0$
12.8$
FROM CANADA
Buffalo
Chicago
Dakota
Duluth
Maine & N.H,
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
6,184
3,994
, 1,233
33,177
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
402
158
731
5
1,296
14,790
25,944
3,468
20,810
163
59
562
2,178
292
17
332
—— —
9
4,136
12
, ni—
y-ft <rf
10
527
38
5,561
36,705
854
1,263
2,136
22
138
279
13,429
111,393
189
1,649
in
2,555
6,290
6,594
4,968
t«»,
Ml
, ,,,,,, ,, ,
17,852
ooOoo
rTl ,__„
31
1!■ft It 11t
____
UNITED STATES SAVINGS BONDS
March 1, 1935,
May 1, 1936# Total 14 month)
Sales by States
Aoril, 1936
State
T11i noi & ..................................
Won V ot»V. . . . . _. . . . . . . . . .
District of Columbia.••..
Chintt(,ttTTTtrTr.. ......
Mi acsrvnT’i . . . . . . . . . . . . . . . . .
Trwfl. . . . . . . . . . . . . . . . . . . . .
Ponncnrl trnni a .............
M*1VHOP>
.................
Mi nV»i cron...... .
IT*0Y9Q59<3^___. „i ^
^^ A^.
To y s c*_ ^ ___ . . . . . . . . . . . .
f!nl ifnrrn 53. ^ ^ ^ _
Tnrii an» . . . . . . . . . . . . . . . . .
Wi conniin . .. . . . . . . . . . . __
T\ToTvr»a<aVa .............. ..
AVI Eilmma
..............
Mo cson nIniso+.+.<3- . . . . . . . . . . .
'Mow .Tor,<3PTr. . . . . . . . . . . . . . .
Wo aViir>crhrm . . . . . . . ______ _
Mm '+Vi P.or»riT i no . . . . . . . . . . .
Kentucky................ .
P.nT r»T»orir\...... .........
nT’ocon _ ..........
West Virginia............
$
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Tf’
iw i ni tx . .
i..*- .rv ,
T?1r\T* infl
.........
M/^rvf*orto
.. ......
f'r\ rrno
__ ._______
Maryland
.
9
Mississippi.............
Alabama...............
South Carolina.•••••••...
.
.
.
•
«
Rhode Island
Vermont........ .
Nevada.•••••••••.•••••••
Hawaii. ......••.... .
.
.
.
.
A1 pcslrp__ ___ . . . . . . . . . . . .
Piior+.n Pi nrt ..... .
Vi r»crin Tol onfi.Q. . . . . . . . . .
.^QmAP __ ....... .............. ..
Guam••»•••••••••..*.....
.
.
.
.
.
2,416,762.50
1,898,156.25
5,020,793.75
1,258,762.50
1^107^750.00
1,161,657.50
1,231,106.25
1,679,606.25
1,108,406.25
699,562.50
835,812.50
951,856.25
697^650.00
801^768.75
619^350.00
372^862.50
436^987.50
411,581.25
349^743.75
351^262.50
215,043.75
478,256.25
343^593.75
204,600.00
241,031.25
272^775.00
265^987.50
268^687.50
159,562.50
260.531.25
262.387.50
205,237.50
228
(v wy 918
x ^j®75
iy
171.393.75
153,750.00
209,175.00
121,631.25
137 868 75
84.750.00
94.537.50
75.675.00
66 ^i
262
50
UU
vUf%A«*J\J
56 962 50
40
50
*±Uj987
UU (•vU
45 m 8 75
33,543.75
33,375.00
38,268.75
12,637.50
18 281 25
1,537.50
11,981.25
1^125.00
168.75
2,550.00
.. ...........$ 31,359,787.50
.. .... .......' 21^811^171.25
20^496^000.00
.. ....... .
19,599,143.75
.. ...........
16^670,381.25
.. ...........
16^035^712.50
.. ...........
15^411^731.25
.. ....... .
15^091^360.00
.. ...........
13^131^843.75
.. ...........
.. ............ 13^128^975.00
12^760^462.50
.. ...........
12^625^818.75
.. ...........
.. ............ 11 ',144^,775.00
.. ............ 10^858^293.75
8^665^612.50
.. ...........
5^418^112.50
•• ............
5^366^868.75
.. ........ .
4^834^087.50
.. ...........
4c\ 765^ 875,00
.. ...........
A , 748^962.50
•• ...........
4^228^ 706.25
...............
......
.
4,095,843.75
..
4^015^ 706.25
.. .... .......
3^620^006.25
.. ...........
3,443,681.25
.. ...........
3^458^606.25
*• ..... .
3^367^293.75
•• ...........
3^277^087.50
•• ...........
3^196,575.00
•• ...........
3.057.450.00
•• ............
2.506.462.50
•• ............
2,435,700.00
••
2.433.112.50
•• ..... ......
2,380,293.75
•• •........ .
2,182,106.25
•* ......... .
1,800,131.25
•* ............
1,627,725.00
•• ...........
1.333.537.50
*• .......... .
1,128,600.00
•* ••••••.....
^961^500.00
*• ............
934^331.25
** .......... .
•*
* * ...... .
•*
••
•• ...........
••
•• ...........
•• ........ .
**
.. ...........
.. ..... .....
.. ...........
.. ......... .
.. ...........
704.362.50
661,668.75
473,662.50
388,031.25
207,937.50
90,037.50
59^906.25
26,943.75
5',062.50
3,000.00
Total - Cash Receipts...
.. 126,207,512,50 .. ........... 1324,060,825.00
Maturity Value..........
,.
Oa JLasl .
34,943r350.00 .. ...........
432.081.100.00
United States Savings Bonds
for May, 1936, by States and Possessions,
State
Sale Price
I
o
w
a
$ 1 823 962•50
Illinois,•••••••••••••••••*
1 821 900,00
M i s s o u r i ,•
1 882 625,00
New Y
o
r
k
1 826 981,25
Pennsylvania... .
1 145 400,00
1
104 468.75
Ohio.............
Minnesota,,,,•••«•••«,,,•,.
961 387,50
M i c h i g a n , ..........
720 093*75
Texas, , , , , . , 6 7 9
687,50
Wisconsin..............
678 787,50
California..............
665 718.75
I n d i a n a . .....
622 593,75
544 500.00
Nebraska............
Kansas•••••••••.....«••«...
492 937•50
Massachusetts.......
472 125.00
Maryland............
416 681.25
New J
e
r
s
e
y
402 881.25
O
k
l
a
h
o
m
a
823 887.50
C
o
l
o
r
a
d
o
317 531.25
Washington...........
299 943.75
West Virginia............
254 962.50
Florida..................
253 537.50
Oregon.•••••••••*•••.......
237 262.50
North Dakota.••••••••••••••
221 700.00
Kentucky......
221 681.25
200 625.00
North Carolina..... .....
Montana.••••••••••....«..«•
190 406.25
Virginia..........
179 681.25
Louisiana.....
165 525.00
Tennessee•••••••»•....»*.«•
187 331•25
141 900,00
South Dakota..... ......
Mississippi................
141 656.25
Georgia.«••••••.«..».•....,
133 106.25
Connecticut.•••••••••••••..
123 600.00
Alabama.....
115 125.00
South Carolina..........
109 950.00
Arkansas.... ...........
96 037.50
Maine..........
84 675.00
New Mexico.••••••••••••••..
75 937.50
Idaho................
67 368.75
A
r
i
z
o
n
a
.
46 425.00
Rhode Island•••.••••••••.••
44 081.25
New Hampshire.......
40 106.25
Utah...............
38 456.25
Wyoming.•••••••••••........
34 593.75
Vermont....................
30 318.75
Hawaii..................
25 875.00
Puerto Rico••••••••....•..»
20 681•25
Nevada...........
15 675.00
Alaska.................
13 237.50
D
e
l
a
w
a
r
e
10 125.00
Samoa.................. '
168.75
District of Columbia (In
cludes Direet-by-Mail Returns) 2 523 856.25
| 11 919 762.50
-5-
intervals as the purchases, 10 years from the respective issue dates.
For example, a §100 denomination bond (present price $75) pur
chased each month for 120 successive months will result, if each bond
is held to maturity, in an ownership of $12,000, maturity value, of
these bonds, payable during the following 10 years by the United States
Government on the first day of each month at the rate of $100 per month.
United States Savings Bonds may be redeemed at any time after
60 days from date of issue and the redemption value is never less
than the purchase price.
Nevertheless the owners of Savings Bonds are
showing a commendable determination to hold on to their investments,
for only about three per cent of the total amount of the bonds issued
to date have been redeemed.
Tabulation of the audited returns from the sale of United States
Savings Bonds in the several states and possessions from March 1, 1935,
to May 1, 1936, arranged in order of their total sales is herewith
attached.
Likewise, there is attached the preliminary report of
sales, similarly arranged, for the month of May, 1936.
For the month of May the State of Iowa, with the sale of $1,823,962,
maturiiy value, led all the other states with Illinois a close second.
Missouri has third place and New York, fourth in the May sales.
For the fourteen months period (from offering date March 1, 1935,
to April 30, 1936) the State of Illinois leads by a wide margin,
followed by New York, Ohio, Missouri, Iowa and Pennsylvania in the
order named.
Attachment.
-
2-
To date there have been issued approximately 1,700,000 Savings
Bonds.
As the limitation of individual ownership is restricted by
law to |10,000, maturity value, issued during any calendar year, the
sales have been attained only through wide distribution to investors
throughout the nation.
A large percentage of the individuals and
corporations that purchased during the year 1935 the $10,000, maturity
value, legal limit, have purchased a similar amount for the calendar
year 1936.
Many have indicated their intention of making these
maximum purchases each calendar year.
United States Savings Bonds are sold in denominations from $25
to $1,000,maturity value.
chase price—
The $100, maturity value bond— $75, pur
is proving by far to be the most popular, especially
among those who are purchasing Savings Bonds under the new Regular
Purchase Plan recently announced by the Treasuiy Department.
This
plan provides that upon request, the Treasury Department will mail
a memorandum statement each week, each month, or at other regular
intervals as the purchaser may elect.
Many who are thus putting aside in Savings Bonds a portion of
their present income for future needs are doing so for the express
intention of creating funds for the education of children, creation
of cash estates, care of dependents, and for travel and recreation
at some future time.
A United States Savings Bond matures exactly 10 years from its
issue date for a surne one-third more than its purchase price.
Hence,
if these bonds are bought at regular intervals and are not redeemed
prior to maturity, the maturity value will be payable, at the same
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Friday, July 10, 1936
7-8-26
Press Service
I ' M
Wayne C. Taylor, Acting Secretaiy of the Treasury, announced
today that the one-half billion dollar mark, maturity value, of
sales of United States Savings Bonds had been passed.
Savings Bonds were first made available on March 1, 1935.
For
the 10 months period from that date to the end of the year, purchases
amounted to a maturity value of $259,000,000 or an average daily
sale for each business day for that period of approximately $1,000,000,
maturity value.
Purchases from January 1, 1936, to July 6, represent
maturity value of $241,000,000 or an average daily sale of approxi
mately $1,535,000 for each business day, reflecting a 50 per cent
increase in the average daily sales for the year 1936 over 1935.
Purchases for the new fiscal year beginning the first d^y of this
month are at an increased rate averaging a daily maturity value of
$1,823,700, which is in excess of 80 per cent increase over the daily
average sales for the year 1935.
Average daily sales in July, 1936
are approximately 75 per cent ahead of average sales for July, 1935.
United States Savings Bonds may be purchased at all post offices
of the first and second classes, at most of the third class, and at
some of the fourth class offices or direct-by-mail from the Treasurer
of the United States, or any Federal Reserve Bank.
The direct-by-mail
sales have likewise shown a consistent ratio of increase during the
last several months.
The upward trend of sales is apparently due
not only to increasing numbers of new purchasers but to the purchases
made by present owners at regular intervals.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- NEWSPAPERS,
Friday» July IQ,, 1^36.
7-9-36.
Press Service
No. 7-87
Wayne C. Taylor, Acting Secretary of the Treasury, announced today that the
one-half "billion dollar mark, maturity value, of sales of United States Savings
Bonds had "been passed.
Savings Bends were first made available on March 1, 1935.
For the 10
months period from that date to the end of the year, purchases amounted to a
maturity value of $259,000,000 or an average daily sale for each business day
for that period of approximately $1,000,000, maturity value.
Purchases from
January 1, 1936, to July 6, represent maturity value of $241,000,000 or an
average dally sale of approximately $1,535,000 for each business day, reflecting
a 50 per cent increase in the average daily sales for the year 1936 over 1935.
Purchases for the new fiscal year beginning the first day of this month
are at an increased rate averaging a daily maturity value of $1,823,700, which
is in excess of 80 per cent increase over the daily average sales for the year
1935.
Average daily sales in July, 1936, are approximately 75 per cent ahead of
average sales for July, 1935.
United Stales Savings Bonds may be purchased at all Post Offices of the
first and second classes, at most of the third class, and at some of the fourth
class offices or direct-by-mail from the Treasurer of the United States, or any
Federal Reserve Bank*
The direct-by-mail sales have likewise shown a consistent
ratio of increase during the last several months.
The upward trend of sales is
apparently due not only to increasing numbeis of new purchasers but to the pur
chases made by present owners at regular intervals*
To date there have been issued approximately 1,700,000 Savings Bonds.
As
the limitation of individual ownership is restricted by law to $10,000, maturity
value, issued during any calendar year, the sales have been attained only through
wide distribution to investors throughout the nation,
A large percentage of the
~2~
individuals and corporations that purchased during the year 1935 the $10,000^
maturity value, legal limit, have purchased a similar amount for the calendar
year 1936,
Many have indicated their intention of making these maximum purchases
each calendar year.
United States Savings Bonds are sold in denominations from $25 to $1,000,;
maturity value.
The $100, maturity value Bond *— ♦ $75, purchase price ~~ is proving
by far to "be the most popular, especially among those who are purchasing Savings
Bonds under the new Regular Purchase Plan recently announced by the Treasury Department.
This plan provides that upon request, the Treasury Department will mail a
memorandum statement each week, each month, or at other regular intervals a„s the
purchaser may elect,
Many who are thus putting aside in Savings Bonds a portion of their presrent
income for future needs are doing so for the express intention of creating funds
for the education of children, -erea.tion of cash estabes, care of dependents, and for
travel and recreation at some future time,
A United States Savings Bond matures exactly 10 years from its issue date
for a sum one~third more than its purchase price.
Hence, if these bonds are
bought at regular intervals and are not redeemed prior to maturity, -the maturity
value will be payable, at the same intervals as the purchases, 10 years from the
respective issue dates,
Por example, a $100 denomination bond (present price $75) purchased each
month for 120 successive months will result,, if each bond is held to maturity,in an ownership of $12,000, maturity value,, of these bonds,- payable during* the
following 10 years by the United States Government on the first day of each month
at the rate of $100 per month.
United States Savings Bonds may be redeemed at any time after 60 days from
date of issue and the redemption value i s never less than the purchase price.
Nevertheless the owners of Savings Bonds are showing a commendable determination
to hold on to their investments, for only about three per cent of the total amount
of the bonds issued to date have been redeemed,-
Tabulation of the audited returns from the sale of United States Savings Bends
in the several states and possessions from March 1, 1935, to May 1, 1936, arranged
in order of their total sales is herewith attached#
Likewise, there is attached
the preliminary report of sales, similarly arranged, for the month of May, 1936#
Bor the month of May, the State
of Iowa* with the sale of $1,823,962,
maturity value, led all the other state
with Illinois a close second#
Missouri
has third place and New York, fourth in the May sales#
Bor the fourteen months period (from offering date March 1, 1935, to April
30, 1936) the States of Illinois leads by a wide margin,.followed by New York,
Ohio, Missouri, Iowa and Pennsylvania in the order named*
t-. \ ■
State
UNITED
STATES
SAYINGS
BONDS
---:
---------"---- ------Sales "by States
April. 1936
Illinois................... $
New York ........... ........
* District of Columbia ........
O h i o ...................... .
Missouri......... .
......
I o w a .......................
Pennsylvania........ ..... .
Minnesota ..................
Michigan.................. .
Kansas .................... .
Texas .......................
California.......... ......,
Indiana ....................
Wisconsin............. .
Nebraska........ ..........
Oklahoma......... ..........
Massachusetts ...........
New Jersey *............ .
Washington................ .
North Carolina *.... ........
Kentucky..................
Colorado ...................
O r e g o n ........ .........T...
West Virginia ..............
Tennessee ..................
Virginia .......... .........
Florida ................... t f
M o n t a n a ...... ..............
Georgia............. ..... T
North Dakota ............ T
Louisiana .............. t.TT
Mar y l a n d ..... *.........
South D a k o t a ............. Tf
Arkansas ............ .TTT_T,
Mississippi * ...............
Alabama ..........r........ T
South Carolina .............
Connecticut ................
Maine ......,..,.........
U t a h ...............
Idaho ....................
j
W y o m i n g ................... .
A r i zona.................. 11
New Mexico ................ t
New Hampshire ..............
Rhode Island ...............
Vermont ............... .
N e v a d a ............. f.....TT
H a w a i i .......
Delaware.............. tritt
A l a s k a ........ ... T..t.T.[TI
Puerto Rico ..............T.r
Virgin Islands........ .
S a m o a .... .........T T r T t
Guam ..............
2,416,762.50 .............. $
1,898,156.25 ..............
3,020,793.75 ___ ...........
1,258,762.50 .... ..........
1 , 107]750.00 ___ ............
l]161/637.50 ___ ............
1.231.106.25 ___ ...........
1.679.606.25 .... .........
1.108.406.25 ...............
699,562.50 ................
833*812.50 ................
931*856.25 ................
697*650.00 .... ..........
HOI*768.75 ................
619|350,00 .... ..........
372,862.50 .... ..........
436*987.50 ___ ..........
411* 581.25 ___ ...........
349.743.75 ....
351,262.50 ___ ..........
215.043.75 .... ..........
478j256.25
343* 593.75 .... ..........
204*600.00 .... ..........
241,031.25
272] 775.00
265,987.50 -.tr........
268,687.50
159,562.50
..........
260,531.25
262*387.50 .... ..........
205,237.50 .... ..........
228,918.75 ___ .........
171j393.75 ...
153,750.00
209.175.®0
121,631,25 ___ ..........
137,868.75 ___ ..........
84,750 .00 .
94,537.50 ....
75,675.00
66.262.50 ___ ..........
56.962.50 .
40,987,50
45,018.75 ___
33,543.75 ___
33,375.00
38,268.75 ^
12,637.50
18, 281425
1,537.50 .^
11,981,25
i Ti25l00 ___
168.75
2,550.00 ....,...........
March 1.J 1935.1 to
May 1, 1936. Total 14 months
31,359 ,787*50
21,811,171.25
20,496,000.00
19,399,143.75
16j67o]381.25
16*035^712.50
15,411,731.25
15,091,360.00
13,131,843.75
13,128,975.00
12^760^462.50
12] 625,* 818.75
11*144*775.00
10,* 858]293.75
8*,665*, 612. 50
5,418,112,50
5*366,868,75
4^834*087]50
4,765,875.00
4,748,962.50
4 228 706 25
4 095 843 75
4 015 706 25
3,620,006.25
3 443 681 26
3 458 606 25
3 567 293 75
3 277 087 60
3 196 675 00
3 057 450 00
2 506 462 50
2,435,700.00
2 433 n 2 60
2 380 293 76
2 182 106 25
1 800 1 31 26
1,627,725.00
1 333 637 60
1 128 600 00
961 500 OO
934 331 26
743,831.25
704 362 50
671 287 50
665 587. 50
661 668 76
473 662 60
388 031 26
207 937 50
150 076 00
90 037 60
59 906 26
26 943 76
5 062 60
3,000.00
Total — Cash Receipts ..... ,
$26, 207, 512.50*___ ...........$324,060,825,00
Maturity Value ..............
34,943,350.00 ____ ... ....... 432,081,100.00
Includes mail orders.
Preliminary Statement of Sales of
United States Savings Bonds
for May, 1936, by Stales and Possessions* .
STATE
sale p r ice
Iowa *...... ............. ..................$1,823,962,50
Illinois .................................. 1,821,900,00
Missouri .. ................................. 1.382.625.00
New York
....... 1*226^981^25
Pennsylvania
.........1,145,400,00
Ohio „.. TT.tf
...... .1 104 488 75
Minnesota.
.........
961.387.50
Michigan #
,.......
720,093,7.6
Texas.,
679.687.60
Wisconsin .....
* uio jio i^OU
California
...
#* • vbOOj ( io f (D
Indiana
....... .. COO KQ7 OC
Nebraska.......
Kansas ........
f «Du
Massachusetts w
......... A h d i op; r\r\
Maryland #
....... . 416,681*25
New Jersey
...... .
402 861 2R
Oklahoma
........ 323,887.50
Colorado
...... .
3171531,25
Washington__ t,
.... .
299j943^75
West Virginia
........ 254,9 62 50
Florida tt f..
...... .
2.63.537.50
Oregon
...... ;. 237.262*50
North Dakota
....... * 221,700,00
Kentucky
..... .
221,681*25
North Carolina
/oL/L/y (jo •UU.
Montana...___ t
******** XyU f ^rUoa
V i r g i n i a __ _
........ 179,681,25
Louisiana .«.. ••
J-w Oti O cUU
Tennessee.... .
it)( JOui «O t)
South Dakota...
........ 141,900,00
Mississippi ....
....... * 141,656,25
Georgia.......
133,106.25
Connecticut __
liCOj G00©00
Alabama
********* 115,125,00
South Carolina
......... 109,950',; 00
Arkansas ......
*********
95*037,; 50
Maine
........
^4.676:00
New Mexico ....
75.937.50
Idaho....... .
........
67,368,75
....... . 461425^00
Arizona.........
Rhode Island___
,....... .
44,081,25
New Hampshire. t,
.......... 401106*25
Utah...........
i...... .
38^456^25
Wyoming
.......... 34,593.75
Vermont
,.........
30,318.75
Hawaii..... ....
,....... . 25^875.00
Puerto Rico.__ _
......... 20*, 681.25
.......
15^675,00
Nevada........ .
.......... 13,237.50
Alaska..... ....
Delaware..... .
.........
10,125.00
Samoa........ ..
..........
*168.75
District of Columbia (includes
Direct-bv-Mail Returns)............ ....... 2.323,856.25
TOTAL
11,919,762.50
TREASURY DEPARTMENT
Washington
FOR RELEASE UPON DELIVERY,
Delivery scheduled for
2:05 P,M, E.S.T. July 17, 1936.
Press Service
No, 7-88
Following is the text of an address entitled ’’liquor Law Enforcement Work
of the Treasury Department” to "be delivered Friday, July 17, 1936, before the
National Conference of Ste.te Liquor Administrators at Providence, Rhode Island,
by Stewart Berkshire, Deputy Commissioner of Internal Revenue, in Charge of
Alcohol Tax Unit, United Stales Treasury Department#
Mr, Chairman, Members of the Conference, Ladies and Gentlemen:
It is a great pleasure to represent on this occasion the Secretary of the
Treasury, the Honorable Henry Morgenthau, Jr# , and to bring his greetings to
you#
He has asked that I express his regrets that he is.unable to be present#
For my part, I am happy to be here as his representative#
on the subject:
I shall speak briefly
'’Liquor Law Enforcement Work of the Treasury Department",
In dealing with the broad question of liquor-law enforcement, the policy
of the Department has been, first, to place all branches of the legitimate indus
try under careful and, as far as practicable, complete supervision, with a view
to insuring full compliance with the revenue laws on the part of all qualified
distillers, brewers, rectifiers, and winemakers, and all distributors whether
at wholesale or retail; and second, to attack the illicit production, distri
bution, and sale of intoxicating beverages by concentrating on known or suspected
sources of supply.
In dealing with the second phase of this program, that is,
the attempted eradication of illicit manufacture and sale, the Department
has adopted the most modern and efficient methods of investigation known
to law-enforcement agencies.
Its agents are devoting their time and
energy to the seizure and destruction of illicit stills, the prosecution
of those responsible for unlawful manufacturing operations, and the breaking
down of the transport service of the illicit industry.
Satisfactory progress
is being made in detecting those financially responsible for large syndicated
operations in the illicit industry, and in securing competent evidence
to subsequently warrant their indictment and conviction.
To enable it better to concentrate upon illicit sources of sup
ply, the Department recommended, and in June, 1934, Congress enacted,
legislation authorizing the Commissioner of Internal Revenue to require
all persons disposing of materials of the character used in the manu
facture of distilled spirits, such as corn sugar, cane and beet sugar,
molasses, and yeast, to make reports giving the names and addresses
of the persons to whom such dispositions were made.
Under regulations
issued pursuant to the authority contained in this legislation, the
District Supervisors of the Alcohol Tax Unit are supplied with an
abundance of information, which enables them to ascertain with great
promptness and accuracy the location of illicit manufacturing plants,
and often the identity of the persons responsible for their operation.
During the two years that have elapsed since the promulgation
of these regulations, the use of corn sugar and molasses, which are
the chief ingredients used in the making of mash for the illicit pro
duction of distilled spirits, has been reduced to negligible quanti
ties.
The raw materials regulations have vastly increased the cost
and difficulty of illicit manufacture, and have had an important in
fluence on the whole problem of liquor-law enforcement.
Criminal
operators using these commodities have, in the main, been driven out
of business, or compelled to turn to other commodities or to denatured
alcohol as the basis of their manufacturing operation.
Denatured al
cohol is definitely inferior as material to be used in the production
of beverage spirits, and results in the production of spirits of inferior
quality that can.be merchandised only with great difficulty and at un
favorable prices.
In recent months there has been an increasing tendency for il
licit distillers to make use of denatured alcohol.
undertaken to meet this situation in two ways:
The Department has
first, by improving
the quality of the materials used in the denaturation of alcohol for
industrial purposes so as to increase the difficulties incidental to
the unlawful removal of denaturants in an effort to render the spirits
potable; and, second, by asking for legislation authorizing the Com
missioner of Internal Revenue to require manufacturers and users of
denatured alcohol and products manufactured from denatured alcohol to
report their sales, shipments, and consignments of such alcohol or
manufactured products, under the system that is applied to materials
like molasses, sugar and yea,st.
This legislation was enacted by
Congress in August, 1935, and the Department has issued regulations .
requiring returns from the manufacturers and users of denatured alco-e
hoi, in order that it will he in a position to detect and prevent the
diversion and redistillation of such alcohol for beverage use.
While
these regulations have not been in force long enough to determine
what their effects will be, there is every reason to believe that, as
in the case of the raw materials regulations and reports thereunder,
they will aid greatly in combatting the redistillation of denatured
alcohol*
Notwithstanding the constantly diminishing illicit traffic in
intoxicating beverages, the statistical results of the enforcement
work of the Alcohol Tax Unit of the Bureau of Internal Revenue,
measured in terms of the number of cases made, remain fairly constant.
In considering this point it is the Departments opinion that, due to
improved enforcement methods and uersonnel, cooperation with state and
local authorities, and to a more sympathetic attitude on the part of
prosecutors and courts, the Government is now apprehending and prose«
cuting a much higher proportion of liquor-law offenders than in the
period of Prohibition.
Since repeal, there is no excuse for the boot
legger and the moonshiner.
Legal, taxpaid liquor, pure in quality
and certain of content, is now widely available.
The bootlegger no
longer is a martyred minister to individual liberty —
revenue violator, a tax evader, and a criminal.
he is only a
As one Federal Judge remarked recently:
,!We are now confronted with a serious problem
in the enforcement of the revenue laws, largely
because a lawless criminal element grew up in
our midst during the prohibition era, and these
same enemies of society are today operating as
though they had public sentiment and public
sympathy to support them* Such people must be
taught at once that the contrary is the fact*11
Every pint of illicit liquor sold by the bootlegger represents
a fraud against the Federal Government, a fraud against the State Govern
ment, a fraud against the producers and legitimate distributors who have
conformed with the law, and in many instances, a fraud against the con
suming public.
Smuggling has also received concentrated effort on the part of
the Treasury Department*
The smuggling of alcoholic beverages is a
violation not only of the Customs laws but also the Internal Revenue
laws, and is commonly linked with other illicit enterprises such as,
for example, the smuggling of narcotics*
The Treasury Department has
attacked this phase of the enforcement problem through the coordinated
efforts of all its police and investigative agencies, including not
only the Customs Service and the Bureau of Internal Revenue, but also
the Bureau of Narcotics, the Secret Service Division, and the Coast
Guard*
Since August, 1934, these agencies have cooperated in carrying
out a carefully planned program calculated to put an end to the smug
gling of alcoholic beverages, a traffic, which, during the days of Pro
hibition, is said to have reached huge proportions*
There are two predominating elements in this program:
first,
cooperation with foreign governments in control measures and in the
interchange of information relating to sources of supply and movements
of contraband between ports; and, second, the maintenance of the
patrol forces necessary to provide surveillance over smuggling craft
at sea and to prevent illicit landings, and the conduct of the in
vestigations required to detect t?aose financially responsible for
such illegal ventures.
In this connection, it should be noted that there is no longer
any large-scale smuggling of finished beverage spirits such as whiskey«
The present very much reduced smuggling of spirits is limited to alco
hol or neutral spirits, which, when successfully smuggled into the
United States, is chiefly used by illegal cutting plants in the pro
duction of a cheap grade of imitation whiskey for sale through speak
easies and similar outlets«
The Coast Guard continues to perform the function of patrolling
the coastal waters, both by vessel and by-airplane, for the purpose of
detecting and trailing smuggling craft«
With its system of radio sta
tions this agency is able to keep currently advised of the movements
of such craft and in this way to keep them under observation and to
prevent, or at least to hinder and delay, the landing of their cargoes«
The Coast Guard, the Alcohol Tax Unit, and the Customs Service maintain
land patrols in coastal areas where smuggling operations are projected,
and there is a constant liaison between these land patrols and Coast
Guard vessels and planes«
These patrol agencies are carefully synchron
ized with investigative work which is constantly going on in an effort
to ascertain the plans of the smugglers«
% ■ »:
* I
^
■
; \f
,H
..
,
.
| H
n
,
V , ■ :
•■
. • •'....■
■ :
n
V
A
- 7 -
The Department has met with much success in this coordinated
effort and in the two years during which this program has been carried
on has seized many rum-running vessels and their cargoes and has suc
cessfully prosecuted many of the smuggling syndicates«
It is believed
that the backbone of the liquor smuggling operations has been broken,
by these methods«
It is not too much to expect that within a reason
ably short time organized alcohol smuggling will virtually cease to
exist«
The situation with respect to the manufacture, importation and
sale of illicit alcoholic beverages is greatly improved and is steadily
improving.
It is, of course9 impossible accurately to gauge the pres
ent volume of this kind of traffic«
Such leakage as may have existed
through legitimate outlets has been reduced to negligible amounts«
Smuggling no longer accounts for any appreciable volume«
Illicit dis
tillers have been hard-pressed to procure materials from which to manu
facture their product.
As the supply of legitimately produced spirits
improves in quality and materially decreases in price, the incentive
to bootleg will be removed, except, of course, in communities that
prohibit the sale of intoxicants.
Hot only has the Treasury Department
improved its enforcement facilities, but there lias been an increase in
the effectiveness of the enforcement effort made by state and local
authorities generally.
Perhaps the best evidence of the present downward trend of the
- 8 -
illicit traffic in alcoholic beverages will be found in the results
obtained both by State and.Federal Governments in the collection
of taxes on such beverages«
The Federal Government today is collect
ing in taxes on alcoholic beverages a larger sum than ever before in
the history of the Country«
For the fiscal year ending June 30, 1934,.
the Federal Government collected in such taxes the sum of $258,911,332«62;
for the fiscal year ending Juno 30, 1935, it collected the sum of
$411,021,772.35; and for the fiscal year just past and ending June 30,
1936, it collected the sum of $503,290,656*38.
This, of course, in
dicates a proportionate increase in the consumption of taxpaid bever
ages, and a proportionate decrease in the consumption of bootleg
products«
To sum it all up, it is my opinion that the present methods
employed by the Federal and State Governments, the fine spirit of co
operation existing between State and Federal enforcement agencies,
together with the greatly increased support being extended by prosecuting
officers and the courts, are bringing the illicit traffic in intoxicants
within satisfactory control«
There is every reason to believe, on the
basis of past experience, that the present efforts and methods and co
operation will not only continue but will be improved and strengthened,
and that the time will soon come when liquor-law enforcement will cease
to be a major problem«
ooOoo
treasury department
Washington
July 13, 1936.
MEMORANDUM FOR THE PRESS
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OEEIOES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended July 10, 1936;
Philadelphia.... ...........
San Francisco........ .
Denver .................. .
Total for week ended July 10, 1936..
Total receipts through July 10, 1936
562,250,13 fine ounces
705,217,64
»
n
17.575,02
"
M
1,285,042o79
M
»
90,935,900.14
«
M* *
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended July 10, 1936;
Philadelphia .....................................
62,00 fine ounces
New York"................................
636.75
n
M
San Francisco......* ..........
74.87
11
M
Denver........ ...................................
~ «. ~ ~ ~
New O r l e a n s . c....... ......................
w J
Seattle............ ................. .•.........
Total for week ended July 10, 1936................
773.62
n
11
Total receipts through July 10, 1936,......... .
;q 2 958,943.88
11
ft ***
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES;
New.
Week ended July 10, 1936:
Imports
Secondary
Domestic
Philadelphia........ ......... ..*$
15,216.88 $101,545,26 $
747±42
New York"........................ 6,704,700.00
227,600^00
43,300,00
San Francisco....................
31,647,57
43,675,59 2,488,642,71
Denver............ ...............
52,483.24
22,129,92
547,807,00
^ew Orleans......................
66.52
21,435,62
327,43
Seattle............. ..............
12,959.99 ..71R^34CU-4,5
Total for week ended July 10, 1936..$6,804,114.21 $429,346.38 $3,793,165.01
GOLD RECEIVED BY FEDERAL RESERVE 3ANKS AND TEE TREASURERS OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended July 8,...... .......
Received previously.
.............
Total to July 8................
Received by Treasurers Office;
Week ended July 8 .... ..... .
Received previously..... .
Total to July 8...... ....... .
NOTE;
Gold Coin
6,064,12
3 1 »623.567.84
$31,629,631.96
$
$
-268.256.00
268,256.00
Gold bars deposited ?/ith the New York Assay Office
in the amount of $200*572.69 previously reported*
** Minus 217,636.57 adjustment,
*** Minus 14*796,03 adjustment%
Gold Certificates
$
126,350,00
109«175.200.00
$109,301,550.00
$
$
5,200,00
2,474.520.00
2,479,720.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE. MORNING NEWSPAPERS,
Tuesday. July 14. 1936.______
7/13/36
Press Service
/
v
Acting Secretary of the Treasury Taylor announced last
evening that the tenders for #50,000,000, or thereabouts, of
273-day Treasury bills, dated July 15, 1936, and maturing
April 14, 1937, which were offered on July 10, were opened
at the Federal Reserve banks on July 13.
The total amount applied for was #167,814,00), of which
#50,052,000 was accepted. The accepted bids ranged in price
fro® 99.955, equivalent to a rate of about 0.059 percent per
annum, to 99.939, equivalent to a rate of about 0.080 percent
per annum, on a baste discount basis. Only part of the amount
bid for at the latter price was accepted. The average price
of Treasury bills to be issued is 99.946 and the average rate
is about 0.071 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday* July ,1.4« 1,936..........
7-13-36
Press Service
No* 7-89
Acting Secretary of the Treasury Taylor announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated July
15, 1936, and maturing April 14, 1937, which were offered on July 10, were opened
at the Federal Reserve hanks on July 13.
The total amount applied for was $167,814,000, of which $50,052,000 was
accepted# .The accepted hids ranged in price from 99*955, equivalent to a rate.
of about 0*059 percent per annum, to 99*939, equivalent to a rate of about 0*080
percent per annum, on a bank discount basis#
at the latter price was accepted#
Only part of the amount bid for
The average price of Treasury bills to be
issued is 99*946 and the average rate is about 0#071 percent per annum on a
bank discount basis#
ooOoo
S)
new mass protection method will be used against poliomylitis (infantile
paralysis) in northern ^Labama and souther^Tennessee, Dr. Thomas Farran, Surgeon
General of the Public Health announced tonight.
Dr. Charles Armstrong, who developed this nev^method of administering picric
acid and alum in a nasal spray, as a protective measure, is leaving immediately
for Montgomery, Ala.
The request for aid from the Public Health Service was made by Dr. J.H.
Baker, State health officer of Alabama, and by Dr. W.C. Williams, State Health
officer of Tennesse.
Dr. Armstrong, Public Health Service scientist developed t M a aimplo pretec
tjj&i method in experimental work on monkeys.
The results were confirmed by
experiments in p o t h e r laboratory whowing the complete efficacy of this solution
in protecting the animals against otherwise
of poliomyelitis
virus.
The treatment consists of the use of a nasal spray on alternate days,
the treatment decreasing in frequency until it is given in intervals of one
week.A
£The remedy has been established as entirely harmless to human beings.
The present epidemic offers the first opportunity for its use on a broad scale.
®\
The Albama-Tennessee epidemic has thus far resulted in 126 cases and
eight deaths being reported. Administration of the treatment will be organized
by the public health services of the two states, under the personal, direction
of Dr. Armstrong, with the aim of extending it so far as possible to all
persons who seek protection from the epidemic.
TREASURY DEPARTMENT
Washington
Press Service
No. 7-90
POR IMMEDIATE RELEASE,
Monday, July 13, 1936.
A
new mass protection method will he used against poliomyelitis (infantile
paralysis) in northern Alabama and southern Tennessee,.Dr. Thomas Parran,
Surgeon General of the Public Health Service announced tonight.
Dr. Charles Armstrong, who developed this new and simple method of
administering picric acid and alum in a nasal spray, as a protective measure,
is leaving immediately for Montgomery, Alabama,.
. .
The request for aid from the Public Health Service wan made by Dr. J.N.
Baker, Stale health officer of Alabama and by Dr. W.C. Williams, Stale Health
officer of Tennessee.
Dr. Armstrong, Public Health Service scientist, developed the method
in experimental work on monkeys.
The results were confirmed by experiments
in three other laboratories, showing the complete efficacy of this solution
in protecting the animals against otherwise fatal doses of poliomyelitis virus*
The treatment consists of the use of a nasal spray on alternate days, the
treatment decreasing in frequency until it is given in intervals of one week.
The remedy has been established as entirely harmless to human beings.
The,
present epidemic offers the first opportunity for its use on a broad scale#
The Alabama-Tennessee epidemic has thus far resulted in 126 cases and eight
deaths being reported.
Administration of the treatment will be organized by
the public health services of the two stales, under the personal direction of
Dr. Armstrong, with the aim of extending it so far as possible to all persons
who seek protection from the epidemic.'
ooOoo
MONTH CF JUNE, 1936
Purchases :
6/8
6/10
6/11
6/16
6/18
* 64,000
* 500,000
*1,000,000
"
*
•4,000,000
Postal
*1,000,000
Postal
»
*2,000,000
• 500,000
Postal
«
* 200,000
.5,000,000
*
. 500,000
U.S.G.L.
.
4,850
Nat*l Parks
10,000,000
Postal
5,000,000
FDIC
500,000
U.S.G.L*
200,000
Collector Panama CÎ.
D.C.Teachers
U.S.G.L*
6 /1 $
6/22
6/16
6/22
6/24
6/25
6/26
6/25
Total pehs *:
Net purchases
?t
tt
tt
it
tt
tt
n
tt
tt
2-3/4$ 31-54
2-//8$ 55-60
2-3/4$ 51-54
2-3/4$ 51-54
2-7/8$ 55-60
2-7/8$ 55-60
2-3/4$ 51-54
[S k i 55-60, 2M
2-7/3$ 55-60
2-7/3$ 55-60
$30,468,850
Sales:
6/29 DepH Labor Forf •
*
Justice Nat 1
Prohibition .
Total sales:
2-7/8$ 55-60
tt
tr
*
2,500
950
3,450
$30,465,400
2-3/4$ HOLC 1!
tt
tt
\
a u r i, 1936
TO m . O/CTOff:
During tha atmth of June» 1936, ths following
transactions took placo in
mmt
O m em m nt
securities for invest«?
accounts:
fötal purchases *«•••••a••*i$30 ,4fia,aso
fete! sales *•••♦«••*•***•*
Hat purchases:
m tk e fc
3,4ÖÖ
$30,468,400
TREASURY DEPARTMENT
O F F IC E
CO M M ISSIO N E R
OF
THE SECRETARY
W A SH IN G T O N
OF
A C C O U N T S A N D D EPO SITS
July 1, 1936.
7
TO MR. GASTON:
' ? /
During the month of June, 1936, the following market
transactions took place in Government securities for invest»
meat accounts:
Total purchases .....•••»•« $30,468,850
Total sales ........... .
Net purchases:
3,450
$30,465,400
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE.,
Wednesday, July 15, 1936.
Press Service
No. 7-91
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of June, 1936, amounted to $30,465,400,
Acting Secretary Taylor announced today.
ooOoo
■tfn
•
: Douglas
:
Fir
: (Bd. Ft»)
TOTAL IMPORTS
Percent of Quota
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N. H.
Massachusetts
Mic higan
Montana
New York
Philadelphia
St. Lawrence
San Diego
Vermont
Virginia
Washing ton
43,47.7*430
229,808
6,333,279
2,822,560
8,328,708
35,383
8,852,667
42,415
5,009,945
5,474,133
18,130
274,995
338,535
5,716,872
;
s
:
:
Sawed Tini)er and Lumber
Western
Total
Mixed Fir :
Lumber
Hemlock
& Hemlock :
(Bd. Ft.) : (Bd. Ft.)
(Bd. Ft.)
i
:
:
Cream
.
(Gal.)
:
White or
Irish Seed
Potatoes
(Pounds)
17,158,810
14,591,725
75,227,965
30.1%
5,910
-
20,667,405
45.9%
“
2,958,707
11,633,018
-
275,036
2,958,707
7,724,309
3,082,670
8,423,772
40,455
20,919,467
42,415
18,216,931
6,982,390
18,130
274,995
389,931
5,878,757
10
44
I
26
1
5,829
-
52,500
91,850
180
2,146,415
1,778,236
144,510
15,122,759
^2\ßßk,228
1,391,030
260,110
95,064
5,072
12,066,800
1,573,968
1,508,257
51,396
161,885
(^ epared*iyyHHv ision e»f Statist lea.,-aud..-Research. Bureau of Cub tomai
-
580
1,244,375
86,000
¥ m & rW £ 3 H K M H iL «
*
<5—
-
p m h »—
< *■T«r^4i«rthaA^ tabulation tm h m L m m ii atanifalBttfrtvghoiHbng
Imports of lumber, cream and seed potatoes, under the quota provisions
of the Canadian Trade Agreement, during the pefciod from January 1 to
June 27, 1936*
/ When the tabulation) has been mimeographed will you kindly
10 copies forwardedr to me at Room 415, Washington Building?
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Wednesday, July 15, 1936*
Press Service
No. 7-92
Imports of lumber, cream and seed potatoes, under quota provision of
I
the Canadian Trade Agreement, during the period January 1 to June 27, 1936,
(preliminary figures) were announced "by the Bureau of Customs today, as
follows:
:
: Douglas
:
Fir
: (Bd. Ft.)
TOTAL IMPORTS
Percent of Quota
^3 ,^77,^ 30
Sawed Timber and Lumber
Total
Western .: Mixed Fir :
Lumber
Hemlock : & Hemlock :
(Bd. Ft.) : (Bd. Ft.) : (Bd. Ft.)
17 ,158,810
1^.5 9 1 ,7 2 5
:
:
:
Cream
(Gal.)
7 5 .2 2 7 ,9 6 5
30.1#
5 ,9 1 0
275,036
2 ,9 5 8 ,7 0 7
7 ,72^,309
3,082,670
8 .^2 3 ,7 7 2
Uo,U55
20,919,^67
!+2,Ul5
18,216,931
6 ,9 8 2 ,3 9 0
18,130
27^,995
339.931
5 ,6 7 8 ,7 5 7
10
UU
~
26
1
—
5 ,8 2 9
-
:
:
:
:
White or
Irish Seed
Potatoes
(Pounds)
20,667,Ho 5
U5.9#
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N.H.
Mas sachuse 11 s
Michigan
Montana
Hew York
Philadelphia
St. Lawrence
San Diego
Vermont
Virginia
Washington
—
229,808
6 ,3 3 3 ,2 7 9
2,822,560
8,328,708
3 5 ,3 8 3
8,852,667
U2.1H5
—
5 ,0 0 9 ,9^5
5 ,>+7M 33
18,130
27U.9 9 5
3 3 8 ,5 3 5
5 ,7 1 6 ,8 7 2
U5 .2 2 8
1 ,3 9 1 ,0 3 0
260,110
9 5 ,061*
5 ,0 7 2
12,066,800
—
1 ,5 7 3 ,9 6 8
-1 ,5 0 8 ,2 5 7
51,396
-
-
2,952,707
m
—
-
11,633,018
-*
m
161,885
-
52,500
91,850
180
—■
2,11*6 ,1+15
1 ,7 7 8 ,2 3 6
11+1+,510
.—
1 5 ,12 2 ,7 5 9
580
1 ,2 ^ ,3 7 5
86,000
TREASURY DEPARTMENT
Washington
FOR IMMBDZAff® RENEASS,
Friday, July 17, 1936*
Press Service
No# 7^93
The Commissioner of Customs today announced preliminary figures for
the imports of cattle under the quota provisions of the Canadian Trade
Agreement, for the period January 1 to July 4, 1936, and the percentage that such imports hear to the totals allowable under the quota provisions*
As the quotas covering cattle weighing under 175 pounds, and cattle
weighing 700 pounds or more,,are nearing completion, these statistics will
be released weekly hereafter«
weekly releases:
The following statement is the first of the
IMPORTS OP CATTLE UNDER QUOTA PROVISIONS OP THE
CANADIAN TRADE AGREEMENT
Dicing the Period January 1 to July 4, 1936
(Preliminary Figures
Cattle
Under 175
Pounds
(Head)
TOTAL IMPORTS
Percent of Quota
PROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H,
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Phil ade Iphi a
St, Lawrence
Vermont
Washington
TOTAL PROM CANADA
PROM MEXICO
Ai*lzona,
El Paso
San Antonio
San Diego
TOTAL PROM MEXICO
Cattle 700
Pounds or
More
(Head)
Dairy Cows
700 Pounds
or more
(Head)
38,780
74.7$
130,868
84.0$
2,674
13.4$
15,695
26,039
3,468
20,945
194
59
562
----- ----;
- T* ß -
2,740
- - « -
356
- - - ~
17
363
10
- - ~
600
- -
38
« ~ ~
— --- - «
~ ~ ~
7,419
4,109
1,447
5,831
37,016
854
1,263
2,149
22
152
280
14,053
37,286
112,887
2,674
402
356
731
5
6,290
6,723
4,968
- ~ - -
9
5,119
12
— ~ ~
1,494
— — —
17,981
- - - - -
31
189
1,680
126
«
S
«
~ «
- -
**’ *»
— —
MThe development and expansion of public health activities
if*5 being made possible to a great extent through the Social
Security Act.
This fact brings with it implications more far-reaching
than those which merely an additional fund for health work alone
would carry.
The entire Social Security Act conceives a related
program for the protection of people against hazards and disaster
in various fields which individuals in our highly complex social
state cannot individually cope with.
“No matter how definite achievements may be in all phases of our
Public Health Program, we must remember our goal will not be reached
unless the efforts of those working to bring about justesguand s o u n d «
Av
^
economic and social conditions also win through.
“The battle for human conservation goes forward from many fronts.
The men and women who plan and guide that neveJending battle must
keep themselves closely united and constantly in touch with needs
and progress in other fields than their own.“
Members of the 1936 Class are Passed-Assistant Surgeons C. H. Binford
of Virginia; Bert B, Boone of Oklahoma; Leroy E. Burney, B. H. Piinn
J. W. .Oliphaht and Leonard A. Scheele of Indiana; D. C. Elliott of Ohio;
W. P. Griffey of Kentucky; H. D. Lyman and C. J. Vanslyke of Minnesota;
B. B. Murdock of Utah; T. B. McKneely of Louisiana; and, Dental Surgeon
B. L. Bobinson of Iowa.
3 -
through scientific and progressive public health programs are among the
first to face these obligations and take up this challenge*
•’Those of you in the field of research realize, beyond any other
group, that the amazing achievements which have come from scientific
investigations of disease have only made more imperative further victory
over the remaining unknown causes of illness, suffering and human waste.
Those of you who are responsible for applying in the field of health
administration and health service the knowledge already available for
conserving human life and vitality, are keenly conscious of the desperate
needs of men, women and children that await your efforts and help.
"Together with your heavily increased specialized tasks, you face today
as never before, the necessity of integrating and relating your growing program
with that of others who also seek to bring health - social and economic health to the people of the nation.
"As a significant example of how quick the response has been to this
need of a related program we may instance the rapidly progressing interest
and work in industrial hygiene.
Local, state and federal agencies in the
fields of health and labor are joining in this vitally needed program.
The
occupational hazards known to exist among industrial workers extendi into
approximately 1,000 occupations and coverl nearly 100 groups of poisons and
other conditions which may be detrimental to health.
Numerous studies of
the health of industrial workers which have been made by the Public Health
Service and other agencies show that industrial occupation is an important
factor in the causation of excessive illness and mortality rates, and
that the life expectancy of the industrial employee is about 7 years
less than that of non-industrial workers.
Meeting with the 1936 class of recently-fcommissioned officers of
the TJ. S. Public Health Service today, Josephine Roche, Assistant Secretary
of the Treasury, discussed economic and social developments carrying a
special challenge to those charged with the responsibility of conserving
the nation1s health.
The present class for young officers is the twenty-sixth annual
class of postgraduate instruction conducted for the intensive training
Since 1910 it has been
the custom of the Surgeon General to select such young officers as could
he spared from the field and assemble them in Washington for a training
course conducted by the senior officers of the service who were ex
perienced in the various fields.
The class has now been extended to
cover a four months period and is organised under the direction of
Senior Surgeon R. R. Spencer of the Office of Public Health Education.
The 1936 course includes instruction in Public Health administration,
community health and sanitation, the management of epidemics, medical
sociology, industrial hygiene, laboratory technic and demonstrations,
and control of communicable diseases.
Miss Roche said in part:
»All groups of specialists whose work has to do with conserving
human resources are today under heavier obligations, and have wider
|||||
opportunities, than at any other period of our life time.
You who have
long visioned the almost limitless possibilities for human service
TREASURY DEPARTMENT
Washington
EOR RELEASE UPON DELIVERY
11:00 A«M., Saturday« July 18« 1956
Press Service
No. 7-94
; Meeting with the 1936 class of recently commissioned officers of the
U, S. Public Health Service today, Josephine Roche, Assistant Secretary of the
Treasury, discussed economic and social developments carrying a special challenge
to those charged with the responsibility of conserving the nation*s health.
The present class for young officers is the twenty-sixth annual class of
post-graduate instruction conducted for the intensive training of its recently
commissioned young officers.
Since 1910 it has been the custom of the Surgeon
General to select such young officers as could be spared from the field and
assemble them in Washington for a training course conducted by the senior offi
cers of the service who were experienced in the various fields.
The class has
now been extended to cover a four months’ period and is organized under the
direction of Senior Surgeon R. R. Spencer of the Office of Public Health Educa
tion.
The 1936 course includes instruction in Public Health administration,
community health and sanitation, the management of epidemics, medical sociology,
industrial hygiene, laboratory technic and demonstrations, and control of com
municable diseases.
Miss Roche said in part:
•’All groups of specialists whose work has to do with conserving human
resources are today under heavier obligations, and have wider opportunities,
than at any other period of our lifetime.
YoU who have long visioned the
almost limitless possibilities for human service through scientific and pro
gressive public health programs are among the first to fane these obligations
and take up this challenge.
,<S ' I
-
2
-
•’Those of you in the field of research realize, "beyond any other group,
that the amazing achievements which have come from scientific investigations of
disease have only made more imperative further victory over the remaining unknown
causes of illness, suffering and human waste*
Those of you who are responsible
for applying in the field of health administration and health service the
knowledge already available for conserving human life and vitality, are keenly
conscious of the desperate needs of men, women and children that await your
efforts and help*
•’Together with your heavily increased specialized tasks, you face today
as never before, the necessity of integrating and relating your growing program
with that of others who also seek to bring health - social and economic health to the people of the nation*
”As a significant example of how quick the response ha,s been to this need
of a related program we may instance the rapidly progressing interest and work
in industrial hygiene.
Local, state and federal agencies in the fields of
health and labor are joining in this vitally needed program.
hazards known to exist among industrial workers extend
1,000 occupations and cover
The occupational
into approximately
nearly 100 groups of poisons and other conditions
which may be detrimental to health*
Numerous studies of the health of indus
trial workers which have been made by the Public Health Service and other
agencies show that industrial occupation is an important factor in the causation
w
of excessive illness and mortality rates, and that the life expectancy of the
industrial employee is about seven years less than that of non-industrial
workers,
•
I
’’The development and expansion of public health activities are being made
possible to a great extent through the Social Security Act,
This fact brings
with it implications more far-reaching than those which merely an additional
■1
I
fund for health work alone would carry.
The entire Social Security Act
~ 3 ~
conceives a related program for the protection of people against hazards and
disaster in various fields which individuals in our highly complex social
state cannot individually cope with*
,fHo matter how definite achievements may be in all phases of our Public
Health Program, we must remember our goad will not be reached unless the
efforts^of those working to bring about more just and sound economic and social
conditions also win through*
nThe battle for human conservation goes forward from many fronts*
The
men and women who plan and guide that never ending battle must keep themselves
closely united and constantly in touch with needs and progress in other fields
than their own*1t
Members of the 1936 Class are P as sed~As s1st ant Surgeons C* H, Binford
of Virginia; Bert R* Boone of Oklahoma;- Leroy E. Burney, R. H. Elinn, J,
Oliphant and Leonard A. Scheele of Indiana; D. C, Elliott of Ohio; W. P* G-riffey
of Kentucky; H. D, Lyman and C* J, Vanslyke of Minnesota; R. R. Murdock of Utah;
T. B. McKneely of Louisiana; and, Dental Surgeon R. L. Robinson cf Iowa*
0O0—
TREASURY DEPARTMENT
Washington
MEMORANDUM EOE TEE PRESS
July 20, 1936.
RECEIPTS OE SILVER 31 THE MINTS AND ASSAT OPEICES« •
(Under Executive Proclamation of December 21, 1933) as amended
Week ended July 17, 1936:
Philadelphia.
San Francisco..... .........
Denver...... «.... c........,
Total for week ended July 17, 1936,,
Total receipts through July 17, 1936,
1*150*018*91 fine ounces
231,928.28
»
» 1
9.751.56
»
«
1,391,698.75
92,327,598.89
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended July 17, 1936:
Philadelphia..... ............................. •••
New Y o r k ........ ..........
# # # # • • • • • • • • ♦ • • ♦ • • • • • • *♦*
San Francisco*............. ................
Denver .................................... .
New Orleans......... ....... .....................
S eat 11e.....o. « . • • • • . . . » . . . . . . . . . . . . .
Total for week ended July 17, 1936............ .
Total receipts through July 17, 1936..,..,........ .
„
1,651.90 fine ounces
—
•**.*. „ „ h
_ „ „ „ ^ M ^
^ M M ^ ^ ^
1,651.90 fine ounces
112,960,595.78
1
»
5IPTS OE GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended July 17,- 1936:
Imports
Philadelphia...........
$
4,144,49
New York......................... 1,603,900*00
San Francisco.............
462,137.68
Denver ...............
21,843.37
New Orleans......................
1,043*64
Seattle................... i .....
iota! for week ended July 17, 1936« .$2,093,069.18
Secondary
$103,715,65
175,800,00
32,760.47
11,592.20
23,627,25
14,018.17
$361,513.74
New
Domestic
$
814,73
325,300,00
1,722:851.62
625:845.24
366.62
514,349.80
$'3,189,528,01
GOLD.RECEIVED 3Y FEDERAL RESERVE BANKS AND TEE TREASURER’S OFFICE ;
(Under Secretary*s Order of December 28, 1933)
NOTE:
$
$
200.00
268,256.00
268,456.00
Cold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
*TT1stima.ted
Cold Ceri;ific¡aies
217,,280, 00
$.
109, 301,,550. Ô0
$109, 518,
00 '
.
o
Received by Treasurer1s Office:
Week ended July 15.......... *
Received previously........
Total to July 15.--- ----- -
Cold Coin
$
12,308*96
31,629,651.96
$31,641,940.92
DO
CO
Received by Federal Reserve Banks;
Week ended July 15..... ........
Received previously. ....... .,.
Total to July 15...,...........
$
1,,300. 00
479,,720.00
___ 2»
$. 2*481,020.00
mmsm BWMWMS
Washington
»1 miASS. aOEHIHG R^SPAPSSS,
TassdaT. Jv ir 21. 1936.
Press Service
7/20/36
7
' f f '
Acting Secretary of the Treasury Taylor announced
last evening that the tenders for 150,000,000, or there
abouts, of 273-day Treasury hills, dated July 22, 1936,
and mataxing April 21, 1937, which were offered on July
17, were opened at the Federal Reserve banks on July 20*
The total amount applied for was 1169,959,000, of
which 150,000,000 was accepted. The accepted bids ranged
in price from 99*947, equivalent to a rate of about 0*070
percent per annum, to 99.864, equivalent to a rate of
about 0.179 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99.913 and the average rate is about 0.115
percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Tuesday, July 21, 1936,_________
7-20-36
Press Service
No, 7-95
Acting Secretary of the Treasury Taylor announced last evening that
the tenders for $50,000,000, or thereabouts, of 273-day Treasury hills,
dated July 22, 1936, and maturing April 21, 1937, which were.offered on
July 17, were opened at the Eederal Reserve hanks on July 20,
The totpl amount applied for was $169,959,000, of which $50,000,000
wa.s accepted*
The accepted bids ranged in price from 99,947, equivalent
to a rate of about 0*070 percent per annum, to 99,864, equivalent to a
rate of about 0,179 percent per annum, on a bank discount basis.
part of the amount bid for at the latter price was.accepted.
Only
The
average price of Treasury bills to be issued is 99.913 and the average
rate is about 0*115 percent per annum on a, bank discount basis.
ooOoo
B a l t i m o r e , Md#
M e a r á % M n rp h y, Gr,
1$ G ra fto n S t r e e t ,
C heey C h a s e , X ¿.
C h a r l e s j|» I l s h e t t
G e n e ra l C e liT e iy
G o á fr e g r , I l l i n o i s
le & n e th 1 . P o t t s
( A p p e ln t e á f r o a M as?)
T i s a n a , W est T i r g i n i a
G a n e s 9* F a in a »
( A p p o ln t e á f r e n C o a s ! G u a rá )
F a e o m a , fa s M m g to m
H h e r t B. P a it a r
309 F i r s t f i e » S t r e e t
l o r f e lk , T ir g in ia
C h a r l e s I . Myaa
( ¿ p p e ln te á fr o » l a r y )
C m a b e r l r n d , lid»
M s tim G . t a s s e l l
W & n ett, M is s o u r i#
I r á n C . S ir p s o a
29 f i l i a r á S t r e e t
C h e le e n » P ees»
Gohn Sttgáen* I I
t é M a rre» S t r e e t ,
I n a p t o s , T ir g in ia #
Saym ond G . M i l l a r
kZOJ Ivanhoe ive,
Milton A. Alien,
Sepmlveda St.,
San Pedro, Calif.
Aucella,
(Appointed fro® Marine Corps)
78 femveod Avenue,
levers, Mass.
Bchort ?. Barrer
56 fh&mes Street,
Se« London, Oonn.
flllla® ?• Barnett
(Appointed fro® Bavy)
Jacksonville, Florida).
Albert J. Beede
(Appointed fr<m lees)
Alameda, Callf.
Janes 3. Berry
(Appointed fro® Marine Corps)
Garnett, Aeneas.
Janee ?. Bills,
1523 f . SI St.
loe Angeles,
John F. Bl&ndy,
**0$ Cnrtin St.
Osceola Mills, Pa.
Ira X. Blongfc, Jr.
ISO? listón St.
Hiiiadolphla, Pe.
Alfred 1. Brassel,
$13 f. 20th St.,
lest Be« Tork, 1. J.
Clyde S. Borten,
Olive lili, Aentneky
John 1. Clary,
(Appointed fro® Bevy)
Jacksonville, Florida.
James A. Coralsh,
721 Emerson & t m m
flisabeth» IL J.
Holmes F. Crench,
2220 Biggs Avenue
Baltimore, It.
Francia L. Bsyfield
(Appointod fro® Bavy)
forrlngton, Coan.
Sogene I. Ficher,
(Appointed fro® Marine Corps)
309 1. Miller St.,
Bloomington, 111.
James A. F&rrell
35S ¥• Freemason St.
Borfolk, Tirginia
Vllllsm t. Foster
2$K) Clifton Avenue
l<inore, Md.
Iá«ard A. Halsey,
\Apwiated fro® Bavy)
803 Kart St.
Cle&rmeter. Florida.
Robert 1. Haffisond,
2138 01 en Avenae
Pasadena, Calif.
Bemhará B. Henry
169 Oreen Street
Ann&polis, Md.
fillla® B. Holt
H O lingha® Avenue
Sanlt Ste. Maria#»Michigan.
larl le Arill
3723 Manola Ave.
St. loáis. Me.
Benjamin MBCaffery, Jr.
1535 Poinsettia Place
Hollywood, Calif.
Joseph J. McClelland
1#
gjtfe Aven®»
Sestil©, fashington
Ira B. MeMall ah
3H 0 fhe Brookl&nds,
Akron, Ohio
FOR RELEASE WEDNESDAY,
Names of thirty-six of the succès sfili candidates
in the competition for entrance as cadets to the United States Coast
Guard Academy at New London, Conn., were announced today by the
Comma m a nt of the Coast Guard.
Rendered
Cadet appointments will be/i^p»iHi^f^ext month
to fourteen more candidates who
must first undergo the physical
examination before being ordered to report to the Academy.
A
total of 449 young men «scsfce the educational
examination at their nearest Coast Guard division headquarters on June 10.
Of that number, 102 were declared eligible for the physical tests.
Sevenlft of the first thirty-six certified are
appointed from the Marine Corps, five from the Navy and one from the
Coast Guard itself.
ThoseSs« v p a i ^ » s ^ d e t s to date are as follows:
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday« July 32. 1936,_______
7-20-36.
Press Service
No. 7-96
Names of thirty-six of the successful candidates in the competition for
entrance as cadets to the United States Coast Guard Academy at New London, Conn.,
were announced today "by the Commandant of the Coast Guard.
Cadet appointments will "be tendered next month to fourteen more candidates
who must first undergo the physical examination "before "being ordered to report to
the Academy .
A total of 449 young men took the educational examination at their nearest
Coast Guard division headquarters on June 10.
Of that number, 102 were, declared
eligible for the physical tests.
Seven of the first thirty-six certified are appointed from the Marine Corps,
five from the Navy and one from the Coast Guard itself.
Those named as cadets to date are is follows?
Milton A. Allen,
1151 Sepulveda St.,
San Pedro, Calif®
Robert E. Barberr
56 Thames Street,
New London, Connu,
Albert J. Beade,
(Appointed from Navy)
Alameda, Calif.
James E. Bills?
1523 W. 81 St.*
Los Angeles, Calif.
Ira K. Blough, Jr.
1807 Elston St.
Philadelphia, Pa.
Clyde R. Burton,
Olive Hill, Kentucky
James A. Cornish,
721 Emerson Avenue,
Elizabeth, N.J.
Ralph Aucella,
(Appointed from Marine Corps)
78 Eernwood Avenue,
Revere, Mass.
William E. Barnett
(Appointed from Navy)
Jacksonville, Ela.
James D. Berry
(Appointed from Marine Corps)
Garnett, Kansas.
John E. Blandy,
405 Curtin St.
Osceola Mills, Pa.
Alfred L. Brassel,
513 W. 20th St.,
West New York, N.J.
John E. Clary,
(Appointed from Navy)
Jacksonville, Ela.
Holmes E. Crouch,
2220 Riggs Avenue,
Baltimore, Md.
Francis L. Dayfield,
(Appointed from Navy)
Torrington, Conn,
Eugene I. Ficher,
(Appointed from Marine Corps)
309 W. Miller St.,
Bloomington, 111,
James E. Farrell,
358 W. Freemason St.,
Norfolk, Virginia
William C. Foster,
2840 Clifton Avenue,
Baltimore, Md,
Edward K, Halsey,
(Appointed from Navy)
803 Hart St.,
Clearwater, Florida
Robert E. Hammond,
2138 Glen Avenue,
Pasadena, Calif,
Bernhard R. Henry,
169 Green Street,
Annapolis, Md,
William N. Holt,
110 Bingham Avenue,
Seult Ste. Marie , Michigan,
Karl E, Krill,
3723 Manola Ave,,
St. Louis, Mo*
Benjamin McCaffery, Jr.
1535 Poinsettia Place,
Hollywood, Calif,
Joseph J. McClelland,
149-29th Avenue,
Seattle, Washington
Ira. H. McMullah,
340 The Brooklands,
Akron, Ohio
Raymond G. Miller
4207 Ivanhoe Ave.,
Baltimore, Md*
Edward A. Murphy, Jr,
18 Grafton Street,
Chevy Chase, Md.
Charles A. Nisbett
General Delivery
Godfrey, Illinois
Kenneth H. Potts
(Appointed from Navy)
Vienna, West Virginia
James W. Paine,
(Appointed from Coast Guard)
Tacoma, Washington
Elbert D. Potter,_
309 First View Street,
Norfolk, Virginia,
Charles K, Ryan
(Appointed from Navy)
C-umberland, Md.
Austin J. Russell,
Monett, Missouri
Ivan C. Simpson,
29 Willard Street,
Chelsea, Mass,
John Sugden, II
46 Marrow Street,
Hampton, Virginia.
ooOoo
~
2
-
applied for, unless the tenders are accompanied by an express guaranty
of payment by an incorporated bank or trust company.
Immediately after the closing hour for receipt of tenders on
July 27, 1956_______ f all tenders received at the Federal Reserve Banks
tty
or branches thereof up to the closing hour will be opened and public
announcement of the acceptable prices will follow as soon as possible
thereafter, probably on the following morning.
The Secretary of the
Treasury expressly reserves the right to reject any or all tenders or
parts of tenders, and to allot less than the amount applied for, and
his action in any such respect shall be final.
Those submitting
tenders will be advised of the acceptance or rejection thereof.
Pay
ment at the price offered for Treasury bills allotted must be made at
the Federal Reserve Banks in cash or other immediately available funds
on
July 29, 1956__________
tty
The Treasury bills will be exempt, as to principal and interest,
and any gain from the sale or other disposition thereof will also be
exempt, from all taxation, except estate and inheritance taxes,
(Atten
tion is invited to Treasury Decision 4550, ruling that Treasury bills are
not exempt from the gift tax.)
Ho loss from the sale or other disposition
of the Treasury bills shall be allowed as a deduction, or otherwise recog
nized, for the purposes of any tax now or hereafter imposed by the United
States or any of its possessions.
Treasury Department Circular No, 418, as amended, and this
notice prescribe the terms of the Treasury bills and govern the con
ditions of their issue.
Copies of the circular may be obtained from
any Federal Reserve Bank or branch thereof.
‘
TREASURY DEPART M O T
POR RELEASE, MORNING- PAPERS,
Friday, July 24, 1936«_____
STATEMENT BY
ACTING SECRETARY OF THE TREASURY TAYLOR
The Secretary of the Treasury gives notice that tenders are
invited for Treasury hills to the amount of $ 50,000,000 , or the readout sThey will he 275-day hills; and will he sold on a discount basis to the
highest bidders.
Tenders will he received at the Federal Reserve Banks,
or the branches thereof, up to two otclock p, m . , Eastern Standard time,
on
Monday. July 27. 1956
Tenders will not he received at the
43$
Treasury Department, Washington.
The Treasury hills will he dated
mature on
April 28, 1957
July 29» 1956
', and will
ÉJ§
t and on the maturity date the face amount
will he payable without interest.
They will he issued in hearer form
only, and in amounts or denominations of ¿1,000, $13,000, $100,000,
$500,000, and $1,000,000 (maturi ty value).
It is urged that tenders he made on the printed forms and
forwarded in the special envelopes which will he supplied by the Federal
Reserve Banks or branches upon application therefor,
No tender for an. amount less than ¿1,000 will he considered* '
Each tender "must he in multiples of $1,000.
The price offered must he
expressed on the basis of 100, witn not more than three decimal places,
e. g. , 99.125.
Fractions must' hot he used»-
Tenders will he accepted..without'cash deposit from incorpor
ated banks and trust companies and from responsible and recognised
dealers in investment securities.
Tenders from others must he accon>-
-panied by a deposit of 10 per cent of the face amount of Treasury hills
TREASURY DEPARTMENT
FOR RELEASE, MORNING PAPERS,
Friday, July 24, 1936.
STATEMENT 3Y ACTING SECRETARY OF THE TREASURY TAYLOR
The Secretary of the Treasury gives notice that tenders are invited for
Treasury "bills to the amount of $50,000,000, or thereabouts.
They will "be 273-day
"bills; and will "be sold on a discount basis to the highest bidders.
Tenders will
be received at the Federal Reserve Banks, or the branches thereof, up to two
o’clock p.m., Eastern Standard time, on Monday, July 27, 1936.
Tenders will not
be received at the Treasury Department, Washington.
The Treasury bills will be dated July 29, 1936, and will mature on April 28,
1937, and on the maturity date the face amount will be payable without interest.
They will be issued in bearer form only, and in amounts or denominations of $1,000,
$10,000, $100,000, $500,000, and $1,000,000 (maturity value).
It is urged that tenders be made on the printed forms and forwarded in the
special envelopes which will be supplied by the Federal Reserve Banks or branches
upon application therefor.
No tender for an amount less than $1,000 will be considered.
must be in multiples of $1,000.
Each tender
The price offered must be expressed on the basis
of 100, with not more than three decimal places, e.g., 99.125.
Fra.ctions must
not be used.
Tenders will be accepted without cash deposit from incorporated banks and
trust companies and from responsible and recognized dealers in investment securi
ties.
Tenders from others must be accompanied by a deposit of 10 per cent of the
face amount of Treasury bills applied for, unless the tenders are accompanied by
an express guaranty of payment by an incorporated bank or trust company.
-2~
Immediately after the closing hour for receipt
of tenders on July 27, 1936,
all tenders received at the Federal Reserve Banks or Branches thereof up to the
closing hour will "be opened and public announcement of the acceptable prices
will follow as soon as possible thereafter, probably on the following morning.
The Secretary of the Treasury’ expressly reserves the right to reject any or all
tenders or parts of tenders, and to allot less than the amount applied for, and
his action in any such respect shall be final.
Those submitting tenders will
be advised of the acceptance or rejection thereof.
Payment at the price offered
for Treasury bills allotted must be made at the Federal Reserve Banks in cash or
other immediately available funds on July 29, 1936.
The Treasury bills will be exempt, as to principal and interest, and any
gain from the sale or other disposition thereof will also be exempt, from all
taxation, except esta.te and inheritance taxes. (Attention is invited to Treasury
Decision 4550, ruling that Treasury bills are not exempt from the gift tax.)
No
loss from the sale or other disposition.of the Treasury bills shall be allowed
as a deduction, or otherwise recognized, for the purposes of any tax now or here
after imposed by the United States or any of its possessions.
Treasury Department Circular No. 418, as amended, and this notice prescribe
the terms of the Treasury bills and govern the conditions of their issue.
Copies
of the circular may be obtained from any Federal Reserve Bank or branch thereof.
ooOoo
IMPORTS OF CATTLE UNDER QUOTA PROVISIONS OF THE
CANADIAN TRADE AGREEMENT
During the Period July 1 to July 11, 1936
(Preliminary Figures)
: Cattle
: Under 175
: pounds
: (Head)
:
;
:
:
Cattle 700
pounds
or more
(Head)
: Dairy Cows
: 700 Pounds
: or more
:
(Head)
TOTAL IMPORTS
Percent of Quote
42,510
81.9$
132,672
85.2$
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H*
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
16,947
•
2,825
*
358
*
17
371
415
9
6,276
12
8,072
4,180
1,529
26,227
3,468
21,099
194
59
562
6,057
37,296
854
1,263
2,372
22
156
282
14,598
•
192
1,719
156
Total from Canada
41,011
114,509
2,748
407
356
731
5
6,292
6,881
4,990
-
1,499
18,165
-
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
(Prepgretr~T^Divi^ion_of Statistic
2,748
13.7$
10
•
602
•
38
«fr
31
and-.Re search. Rureau^of Oust ans)
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to July 11,
1936, and the percentage that such imports bear to the totals
allowable under the quota provisions.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, July 24, 1936.
Press Service
No. 7-97
The Commissioner of Customs today announced preliminary figures for
the imports of cattle under the quota provisions of the Canadian Trade
Agreement, for the period January 1 to July 11, 1936, and the percentage
that such imports bear to the totals allowable under the quota provisions,
as follows:
:
Cattle
: Under 175
:
pounds
:
(Head)
TOTAL IMPORTS
Per cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N,H.
Maryland
Massachusetts
Mi chigan
Minnesota
Montana
New York
Oregon
Philadelphia
St, Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
42,510
81,9/o
16,947
—
2,825
—
358
—
17
371
415
9
6,276
12
—
8,072
4,180
1,529
:
:
:
:
Cattle 700
pounds
or more
(Head)
132,672
85.2%
26,227
3,468
21,099
194
•59
562
—
6,05-?
37,296
854
1,263
2,372
22156
282
14,598
41,011
114,509
40-7
356
731
. 5
-6,292
6,881
4,990
—
1,499
18,163
"
:
:
:
Dairy Cows
700 pounds
or more
(Head)
2,748
13,7$
—
10
-
602
-38
—
31
—
192
1,71-9
156
2,748
_ _
mmm.
irn:m
—
TREASURY DEPARTMENT
Washington
July 27, 1936.
MEMORANDUM EOR THE PRESS
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OEEICES;
(Under Executive Proclamation of December 21, 1933) as amended
Week ended July 24, 1936:
542,826*38 fine ounces
Philadelphi
163,345*48
" »
San Eranci sco.....................................
10.188.99
» **
Denver.......................................... .
716,360.85
* »
Total for week ended July 24, 1936........... .
» "
Total receipts through July 24, 1936............... 93,043,959.74
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended July 24, 1936:
Philadelphia. .....................
New Y o r k ....... .................
San Erancisco.............. ......
Denver ...........................
New Orleans...... ................
Seattle.... ......................
Total for week ended July 24, 1936*.
Total receipts through July 24, 1936
62.00 fine ounces
2,524.40
“
«
2,586.40 fine ounces
112,963,182.18
»
»
RECEIPTS OE GOLD 3Y THE MINTS AND ASSAY OEEICES:
Week ended July 24, 1936:
Imports
Philadelphia........ .............$
9,507*19
New York......................... 2,152,000.00
San Erancisco........
424,941.56
Denver...........................
70,827.89
New Orleans...................... - Seattle.... ...................... — « 4;
Total for week ended July 24, 1936.,$2,657,276.64
Secondary
$ 90,616.80
78,700.00
27,146.81
28,195.97
19,943.45
7.765.21
$252,368.24
New
Domestic
$
181.55
295,000*00
1,548,998*24
671,753*17
510*08
305,655.27
$2,822,098.31
SOLD RECEIVED 3Y EEDERAL RESERVE BANKS AND THE TREASURER’S OEEICS:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks:
Sold Coin
Week ended July 22............. $
18,265.92
Received previously............
31,641,940.92
Total to July 22............... $31,660,206.84
Received by Treasurer*s Office:
Week ended July 22............. $ - ---~ ~ ~
Received previously........... .
268,456.00
Total to July 22............... $ 268,456.00
NOTE:
Sold Certificates
$
383,830*00
109,518,830.00
$109,902,660.00
$
$
Sold bars deposited with the New York Assay Office
in the amount of $20.0,572.69 previously reported.
3,600*00
2,481,020.00
2,484,620.00
TREASURY DEPARTMMT
WASHINGTON
FOR RELEASE. MORNING NEWSPAPERS,
7/27/36
Press Service
y-fr
Acting Secretary of the Treasury Taylor announced last evening
that tie tenders for $50,000,000, or thereabouts, of 273-day
Treasury bills, dated July 29, 1936, and maturing April 28, 1937,
which were offered on July 24, were opened at the Federal Reserve
banks on July 2?,
The total amount applied for was $141,262,000, of which
$50,047,000 ms accepted* The accepted bids ranged in price
from 99.945, equivalent to a rate of about 0*073 percent per
annum, to 99*811, equivalent to a rate of about 0.249 percent
per annum, on a bank discount basis. Only part of the amount
bid for at the latter price was accepted. The average price
of Treasury bills to be issued is 99.830 and the average rate
is about 0.224 percent per annua on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, July 28, 1936,_________
7-27-36,
Press Service
No. 7-98
Acting Secretary of the Treasury Taylor announced last evening that
the tenders for $50,000,000, or thereabouts, of 273-day Treasury bills,
dated July 29, 1936, and maturing April 28, 1937, which were offered on
July 24, were opened at the Federal Reserve banks on July 27«
The total anount applied for was $141,262,000, of which $50,047,000
was accepted*
The accepted bids ranged in price from 99«945, equivalent
to a rate of about 0«073 percent per annum, to 99.811, equivalent to a
rate of about 0«249 percent per annum, on a bank discount basis.
part of the amount Did for at the latter price was accepted.
Only
The average
price of Treasury bills to be issued is 99.830 and the average rate
is about 0.224 percent per annum on a bank discount basis.
ooOoo
i
Customs collections for the fiscal year ended June 30,1936 show an increase
'
ox 12*2 percent
% - r ____ f
over customs collections for the previous fiscal year the Customs
reported today*
Comparative
follow:
totals fcxzth&ztasnzysacziasjx by districts, for the two years,
iiO & fie
District
Alaska
Arizona
Buffalo
Chicago
Colorado
Connecticut
Dakota
Duluth and Superior
SI Paso
Florida
Galveston
Georgia
Hawaii
Indiana
Iowa
Kentucky
Los Angeles
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Mobile
Montana and Idaho
New Orleans
New York
North Carolina
Ohio
Omaha
Oregon
Philadelphia
Pittsburgh
Puerto HIco (a)
Rhode Island
Rochester
Sabine
St* Lawrence
St* Louis
San Antonio
San Diego
San Francisco
South Carolina
Tennessee
Utah and Nevada
Vermont
Virginia
Washington
Wisconsin
Total (a)
(a)
Will!
Fiscal Year
1936
#
5,170
1,364,909
13,519,190
11,609,941
218,944
825,940
1,589,708
1,912,533
848,891
2,530,364
3,087,040
3,223,045
1,716,064
4,851,650
28,598
938,064
8,729,068
573,911
12,220,265
33,812,457
4,417,622
1,800,000
614,911
194,956
13,307,808
183,894,623
10,386,154
3,288,141
245,030
1,649,903
26,077,960
4,477,515
1,956,823
1,857,600
1,263,892
210,940
1,134,958
1,754,780
1,710,867
350,977
10,806,572
506,015
80,311
14,842
1,578,392
7,478,197
5,303,592
761,677
$ 388*773,987
Puerto Rieo not included in totals*
Fiscal Year
1935
$
Percent of
Increase
8,782
1,415,717
5,420,818
12,544,893
222,079
666,424
1,154,206
3,250,014
1,097,503
2,019,241
4,275,362
2,726,045
1,640,407
7,416,571
43,005
876,064
6,556,151
589,993
11,143,476
21,129,227
3,798,704
1,358,945
550,007
133,285
14,290,262
167,529,953
9,616,749
2,020,171
261,944
1,217,792
24,016,731
3,323,174
2,072,125
1,301,864
1,063,208
285,130
1,142,752
2,027,546
2,447,182
254,661
10,247,557
417,902
106,819
25,999
1,420,003
8,089,205
3,825,088
1,536,710
• 41*1
• 3*6
149*4
- 7*5
- 1.4
23*9
37.7
- 41.2
- 22*7
25.3
• 27.8
18*2
4*6
• 34*6
- 33.5
7.1
33.1
• 2*7
9*7
60.0
16*3
32*5
11*8
46*3
7* 6.9
9.8
8.0
62.8
• 6.5
35.5
8.6
34.7
» 5.6
42.7
18.9
* 26.0
•
.7
- 13.5
77 30.1
37.8
5*5
21*1
T* 24.8
• 42.9
11.2
- 7.6
38.7
- 50.4
$ 346,505,321
12.2
TREASURY DEPARTMENT
Washington
FOR RELEASE, M0RNING- NEWSPAPERS,
Thursday, Julff 30, 1936.________
7-28-36.
Press Service
No, 7-99
Customs collections for the fiscal year ended June 30, 1936, show an
increase of 12,2 percent over Customs collections for the previous fiscal
year, the Bureau of Customs reported today.
Comparative totals hy districts, for the two years, follow:
2«
District
I
Alaska
Arizona
Buffalo
Chicago
Colorado
Connecticut
Dakota
Duluth & Superior
El Paso
Florida
Galveston
Georgia
Hawaii
Indiana
Iowa
Kentucky
Los Angeles
Maine & Hew Hampshire
Maryland
Massachusetts
Michigan,
Minnesota
Mobile
Montana & Idaho
Hew Orleans
Hew York
Horth Carolina
Ohio
Omaha
Oregon
Philadelphia
Pittsburgh
Puerto Rico (a)
Rhode Island
Rochester
Sabine
St. Lawrence
St. Louis
San Antonio
San Diego
San Francisco
South Carolina
Tennessee
Utah & Hevada
Vermor.fc
Virginia
Washington
Wisconsin
Total (a)
I
Fiscal Year
1936
$
5,170
1,364,909
13,519,190
11,609,941
218,944
825,940
1,589,708
1,912,533
848,891
2,530,364
3,087,040
3,223,045
1,716,064
4,851,650
28,598
938y064
8,729,068
573,911
12,220,265
33,812,457
4,417,622
1,800,000
614,911
194,956
13,307,808
183,894,623
10,386,154
3,288,141
245,030
1,649,903
26,077,960
4,477,515
1,956,823
1,857,600
1,263,892
210,940
1,134,958
1,754,780
1,710,867
350,977
10,806,572
506,015
80,311
14,842
1,578,392
7,478,197
5,303,592
761,677
$3B8“,77'3",98'7
(a) Puerto Rico no- included in totals,
HOTE - Minus sign (* indicates decrease»
Fiscal Year
1935
$
8,782
1,415,717
5,420,818
12,544,893
222,079
666,424
1,154,206
3,250,014
1,097,503
2,019,241
4,275,362
2,726,045
1,640,407
7,416,571
43,005
876,064
6,556,151
589,993
11,143,476
21,129,227
3,798,704
1,358,945
550,007
133,285
14,290,262
167,529,953
9,616,749
2,020,171
261,944
1,217,792
24,016,731
3,323,174
2,072,125
1,301,864
1,063,208
285,130
1,142,752
2,027,546
2,447,182
254,661
10,247,557
417,902
106,819
25,999
1,420,003
8,089,205
3,825,088
1,536,710
$3467505,321“
Percent of
Increase
- 41,1
- 3,6
149,4
« 7,5
- 1,4
23,9
37,7
- 41,2
- 22,7
25,3
- 27.8
18,2
4,6
- 34,6
- 33.5
7.1
33.1
- 2.7
9.7
60.0
16,3
32.5
11,8
46,3
- 6.9
9.8
8.0
62.8
- 6,5
35,5
8,6
34,7
- 5,6
42.7
18,9
- 26,0
,7
~ 13,5
- 30,1
37,8
5,5
21,1
- 24,8
« 42.9
11,2
- 7.6
38,7
« 50.4
12.2
@FedFRASER