Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-05-10
$50! THEN BUY
| liberty BOND"
|cAdOo Announces Amount
y Can Be Paid in Four
Installments
SUBSCRIPTIONS POUR IN
Philadelphians Spent $685. 900
Yesterday-New Workers
~ Put Up S11,156,000

4 q WASH NGTON, May lO--rhc S2Uno.-
zoo. 900 issue OF Liberty Loan bonds. Secrc-
3 tary McAdoo announced last night, will hc
In denominations OF from $50 to 500, 900
will mature in thirty years and may he re-
seemed by the Government IN fifteen, viii
be subject to payment in four ;ustalluents
f4ud Will carry the privilege Of conversion
Into any bonds which may hc issued later
during the war at higher rate of interest
Two per cent Of the subscription must
be paid on application. The balance Will
be paid as follows: June 2S. is per cent
July 80, 20 per cent; August =. 80 per
cent. and August 80. So per cent The
bonds will he dated June - instead Of
July !, the date previously designated and
interest will he payable semannualiy on
June is and December Is.
Two clrsSes Of bonds Will be- issued. cou-
pom and registered The lowest dcnOmua-
tion of registered bonds viii be stoo, other
denominations being $500 sloUp $1,000.
$4,000 $4,000 and 100000 Coupon
bonds, payable to bearer. will he issued in,
denominations of $50. 800, $500 and $1,000.
Decision to place tho minimum dcnomina-
ton at $50, instead Of sl0O, the amount
tentatively agreed upon before last night
was not reached until la'e yesterday An
other detail not decided until the last min
ute was the conversion privilege In all
other respects the tentatively program
reached last night was virtually unds-
turbed.
The present Offering it was announced,
will be limited to $1,000 900 900, "and no
allotments will made in excess of that
amount. This dispOses finally of reports
that Mr. McSdoo had under consideration
the adNisability of extending the amount
OF the offer to include n percentage of the
toversubscripton which apparently will re-
suit when the subscription books are closed
June Is next The formal announcement
reads:
Application must he made on or be-
fore June 8. 1917. subject to the right
of the Secretary in his discretion, to
close the subscription books at an earlier
date.
In order that tho various payments re-
Quired for the settlement of this. trans
actions may be completed with the least
possible disturbance of monetary Condi-
tions. The Secretary will avail himself
OF the privilege, given him by the act,
to redeposit the proceeds of the bonds,
st In so far as II Is practicable, with the
various national and state banks and
trust compa les throughout the country.
The seconI offering Of s200,000,00U in
Y Treasury certificates of Indebtedness IT Is
understood. has been about taken up and
another offering may he made within ten
days. From the proceeds an additional loan
may be made to Great Britain. Mr. NcAdoo
conferred with Arthur J. Balfour today. and
the further needs OF the British Government
were discussed informally.
Yesterdays offers from some Of the chic
cities up to . p m. were announced as TO,
lows:
New York, Sl1l56, 900 Boston, s1,225,000
Baltimore, s753.ooo; Detroit. $735.oOo; To
1edo, $732. 900 Chicago, s545.0Jo Philadcl
pha S535. 900 San Francisco. S315,O00
Washington, s360.0o0