The Leon reporter. (Leon, Iowa) 1887-1930, 1917-10-04

Issue Will Total ga, OOO, 900, 900 Oh
More and Bear Per Cent
Interest.

| which Will be OUefeQ 10 the puDllc Oh
fOctober 1st The chief features are;
excess not to exceed one-half of the
! amount of oversubscrintion.
Terms of bondS-Maturity twenty
five years; redeemable at the option
OF the secretary of the treasury il
ten years
Denominatio of bonds-$5o ane
multiples Of $50.
Interest rate per cent, payable
semi-annually on Nov. Is and May
Terms of payment per cen,
upon application, IS per cent, Nov
t15, 40 per cent Dec. Ia, and 40 pei
cent Jan. Is, 1918.
Bond Issue Extended
! The privilege Of converting bonds
of this issue into bonds of any sue
ceeding issue bearing a higher rate
the war is extended, and through an
arrangement under which bonds viii
will be printed with only four cou-
pons instead of fifty Ito be eXchang-
ed at the end OF two years for the
bonds containing the full number Of
coupons) deliveries will be. prompt
cert tfe sn Wl be be a 'ssue d 'e
/ Secretary McAdoo's announce
ment reads as follows:
| with the approval of the presi-
dent, / have determined to offer on
Oct. 1, 1917, three billion or more
dollars OF United States Of America
due on Nov. Is, 1912, and subject to
redemption at the option of the Unit
ed States at par and accrued inter
est on and after Nov. 10, 1927. The
bonds will bear interest from Nov.
Is, 1917, and the interest will be
PAYABLE on May 3 and Nov. 10 in
each year.
Over-Subscription Likely
1.-The exact amount of bonds to be
issued under this Offering will de-
pend on the amount of subscription
received. 1t is, OF course, to pc ex-
pected that subscriptions considera-,
bly, in excess of $4,000, 100000 will
be received, and in that event the
right is reserved to allot bonds in ex-
cess of $4,000, 100000 to the extent
of not over one-half of the sum by
which the subscriptions received eX-
coed $4,000. 100000: In other words,
00,ooo,O0o are filed, $4,00O,ooo,-
900 of bonds may be allotted.
1.-The bonds will be offered as be-
fore at par and accrued interest, and
will be in denominations of $50 and
multiples thereof.
1.-The bonds shall be exempt both
as to principal and interest, from an
by the United States, any state. or
any of the possessions Of the United
States or by any local taxing author
ity, except ca estate or inheritance
taxes, and OBJ graduated additional
income taxes, commonly known as
sur-taxes, and excess profits and war
profits taxes, now or hereafter i'm
,>oco1 Nv, +lo TIoitod Ntatoc on the in
comes or profits of individuals part
nerships, associations or corpora
tions. The interest on an amount of
bonds and certificates authorized by
said act, the principal Of which does
not exceed in the aggregate S5,0OO,
owned by an individual, partnership,
association, Or corporation, shall pc
exempt from the taxes provided for
in clause OBJ above. =. >>>>
As, to Subsequent Series
IF a subsequent series of bonds
Gates Of Indebtedness, war saving
certificates and other obligations
maturing not more than five years
from the issue of such obligations,
respectively bearing interest at a
higher rate than per cent per an
mum, shall, under the authority OF
said act approved Sept, ~, l9lr, or
u,
ed States before the termination of
the war between the United States
and the imperial German govern
ment, the date of SUCK termination
be fixed by proclamation OF the
president OF the United States, then
the holders of bonds Of the present
series shall have the Prl,yd1lege "a at cone 6me
verting their bonds, at par, into
bonds bearing such higher rate OF in.
terest, at the issue price OF bonds or
such subsequent series, not less than
par, with an adjustment OF accrued
interest.
within the period, after the, public
offering of bonds of such subsequent
series, beginning at the date of issue
of bonds Of such subsequent issue, as
such date shall be fixed in such pubs
lie offerings, and terminating SIN
months after such date Of issue, and
under such rules and regulations as
have prescribed. The bonds to be IS
sued upon such conversion Of bonds
of the present series shall be sub
stantially the same in form ana
terms as shall be prescribed py or
pursuant to law with respect. to the
bonds of such subsequent series, not
only dS W luISIcSt 1alc, ooe "ANN ~
to convertibility
Oct. - Last Day
Subscriptions for the bonds must
reach the treasury dep2rtment,
Washington, D. c., a federaf reserve
bank or branch thereof or some in
corporated bank or trust company in
the United States (not including out
lying territories. and possessions on
or before the close of business Oct.
II, 1917. The applications must be
accompanied by a payment OF per
cent Of the amount applied for ian ana a
allowed will be due as follows:
Eighteen per cent on Nov. Is, 1917.
Forty per cent on Dec. 4, 191a
Forty per cent on Jan. 10, 1919.
con the later date, accrued inter
est on the deferred installments also
will be payable.
II am very glad to be able to an
nounce that by authorizing the en-
craving of these bonds with only
four coupons attached, instead ofsthe