New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-28
Starting With 3 Billion,
ponds to Issue on Half of
All Over That
To Pay a Per Cent
For 25-Year Term
McAdoo Hopes for SIS, OOO,'
100000 Sale, With TO-
100000 Buyers

WASHINGTON, Sept. % Secretary
v,aSoo announced tonight the de-
tails Of the second Liberty Loan. which
v;U be offered 10 the public October l..
The principal feature of the new
1 ,oar. as far as Il differs from the tirst
l i.suc IS that the amount is unlimited
| or limited only by the amount Of sub
serirton received. bonds in excess OF
, $4,000. 600 20 be issued TO the extent OF
10, more than one-haf OF the over
/ .,bscr.ption. Thus, if 5,000,0OO,OOO is
ssbscr bed. $1,000 100000 of bonds will
bs allotted. This Is believed 10 be the
| srs; (. ne in the history Of the coun-
,-v .a.t an unlimited bond issue has
I beer offered.
Summarized. the main points of the
'01 AMOUNT G $4,000, 100000 or more, the
| excess not 20 exceed one-halt OF the
mount Of oversubscription.
| fern of bonds Maturity twenty five
wears; redeemable at the option OF the
s,-etary Of the Treasury in ten years.
denominations of bonds-S5O and
lA.Ilt4cS U SOOs
Interest rate-Four per cent, pay
abe emi-annually, on November Is
and May 10.
erms of payment-Two per cent
, u7on application, IS per cent Novem-
be- 10. 20 per cent December Il, and
40 rar cent January 10, 1918.
The privilege Of converting bonds OF
tbs !ssue into bonds of any succeed
y sxrl, ut %
than per cent during the period Of
the war is extended, and through an
arrangement under which bonds will
/, be printed with only four coupons, in
stead Of fifty (to be exchanged at the
er6 OF two years for the bonds con-
tanning the full number OF codpons),
deliveries vii! be prompt. In this man
/ rer the issue OF interim certificates
will be avoided.
McAdoo's Statement
Secretary McAdoo's announcement
follows:
with the approval of the President,
| have determil ed 10 offer on October
/ 1917. $4,000, 5000 of United States
Of America per cent convertible gold
bonds. due on November 10, 1912, and
subject 70 redemption at the option Of
the United States at par and accrued
interest on and after November 10,
1927 The bonds will bear interest
from November IS. 1917, and The in
terest will be payable on May 10 and
November Is in e.ch year.
Must Pay Down Per Cent
oe.,L....,.,;or for tho bonds must
- 80 Trcseurv Department. Wash
h ;ngton. D. c., a Federal Reserve bank
or branch thereof or some incorporate q
BANK or trust company III ne Cn,ve M:
states .ho' I"C.-"'"E JUL! ny 80
Il'tS anu $500. O..ohor Of 1oI-
We ''ose VI o~S''-,Ss OS.0Det
me aPPIIC@'lo'S nus nc -
oy payment o. per CENT "a tIe
amount apP4Ieo IOr' ana SuoSe4uSi. III
s@ilments upon ooth o0hds al!ot'e ca
VIII De que as aV-.o"9' 10 pei 'e-'' ~ o''
No'emoet 10, L'I ~ per ceHV oI D
CehOvI -, i'1 ~ per C.Ht u. "Nao
%ry TO- 1910 Oh Ihe Ia'IeI uaIe
uueN interest on me ueieIreu MS
ments VIII also be payable
l ne exact amount OF oonGs 70 De
issued under TINS ohering VIII depend
on the amount OF SUBSCRIPTION received
| Il Is, OF course, 10 be expected that
II
l SOOOOOO,OOO Will be received, and IN
nat event the rlgnt is res SI TO aliot
bonds IN excess OF STANDARDIZATION TO the
extent Of not over one-ha!f OF the sum
by which the subscriptions received ex-
Geo So'UUo'oVV'OOU; III otheI ~o ~ 60 II
NM ooo s.o siog SHoo0 non mn IF bonds
~ aiI.. -
i
In sou Denominations
"The bonds will be offered as before
At par and accrued interest, and will
be. in denominations of $50 and null
tiples thereof.
"The bonds shall be exempt, both as
10 principal and interest, from all tax
alton now or hereafter imposed by the
I United States. any state or any Of the
4 possessions Of the United States. or by
sny local taxing authority. except (a)
1 estate or inberitapco taxes and (bD
1 gradns.od additional income taxes,
sornroTiv known as surtaxes. and ex-
4 cess nrof-s and war profts taxes, now
! - if-ffl sEl lhAfN''N ~ 1''N