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FEDERAL

REGISTER
1934

VOLUME 2

NUMBER 45

,
W ashington, Tuesday M arch 9, 1937
PRESIDENT OF THE UNITED STATES.
E xecutive O rder MODIFICATION OF EXECUTIVE ORDER NO. 7 0 7 0 OF JUNE 1 2 , 1 9 3 5 , PRESCRIBING REGULATIONS GOVERNING APPOINTMENT
PLOYEES PAID FROM EMERGENCY FUNDS

OF

EM

By virtue of and pursuant to the authority vested in me a s. President o f the United States, I hereby modify para graph 1 of Executive Order No. 7070 o f June 12, 1935, as amended, prescribing regulations governing appointments of employees paid from emergency funds, so that it shall not apply to appointments made by the United States Em ployees Compensation Commission.
F ranklin D R oosevelt T he W hite H ouse , -

March 4, 1937.
No. 75701
F. R. Doc. 37-662; Filed, March 5,1937; 2:13 p. m.J

TREASURY DEPARTMENT.
Public Debt Service.
1937Department Circular No. 574
U nited S tates
of
A merica 2 & P ercent T reasury B onds
of
1949-53
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND
ACCRUED INTEREST ON AND AFTER DECEMBER 1 5 , 1 9 4 9

Additional Issue M arch 8, 1937.
I . O f f e r in g
of
B onds
1. The Secretary of the Treasury, pursuant to the author ity of the Second lib erty Bond Act, approved September 24, 1917, as amended, invites subscriptions, at par and accrued interest from December 15, 1936, from the people of the United States for 2 Y2 percent bonds of the United States, designated Treasury Bonds of 1949-53, in payment of which only Treasury Notes of Series B-1937, maturing April 15, 1937, may be tendered. The amount of the offering under this circular will be limited to the amount of Treasury Notes of Series B-1937 tendered and accepted.
II.

D e s c r i p t io n
of
B onds
1. The bonds now offered will be an addition to and will form a part of the series of 2% percent Treasury Bonds of 1949-53 issued pursuant to Department Circular No. 572, dated December 7, 1936, will be freely interchangeable therewith, are identical in all respects therewith, and are described in . the following quotation from Department Circular No. 572:

payable semiannually on June 15 and December 15 in each year until the principal amount becomes payable. They will mature December 15, 1953, but may be redeemed at the option of the United States on and after December 15, 1949, 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 case of partial re demption 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 redemption designated in any such notice, interest on the bonds called for redemption shall cease.
2. The bonds shaU be exempt, both as to principal and interest, freon 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, com monly 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 corpora tions. 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 aggre gate $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 denomina tions of $50, $100, $500, $1,000, $5,000, $10,000 and $100,000. Pro vision 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.
I H . S u b s c r ip t io n
and
A llotm ent
1. Subscriptions will be received at the Federal Reserve banks and branches and at the Treasury Department, Wash ington. Banking institutions generally may submit sub scriptions for account of customers, but only the Federal Reserve banks and the Treasury Department are authorized to act as official agencies. 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 subscription, 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 allot ments 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, all subscriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment.
IV.

Paym ent
1.
TTie bonds will be dated December 15, 1936, and wiU bear 1. Payment at par and accrued interest for bonds allotted must be made or completed on or before March 15, 1937, interest from that date at the rate of 2% percent per annum,
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