The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1917-10-17
'sEC'y M'AOOO G|VESfULL
EXPLANATION Of SECOND
{ LIBERTY LOAN BOND ISSUE
HREAsURv HEAD ourLlNGs IN.
4 vEeTMENT 40 IT AFFGcTo
y BOTH LARGE AND SMALL
SUBSCRIPTIONS - Ire
TAX EXEMPTIONS.
eystsm Of interchangeable Coupons
Makes Early Delivery 70 evysrs
Possibls-oonds Convertible
Into Subsequent issusa

Washington. D. C-Secretary No
Adoo has announced the details Of the
second Liberty Loan. which has just
BEEN offered to the public. The ehist
features are:
Amount 100000. 900 or more. the
excsss not to exceed one-half OF the
hmount Of oversubscription.
Terms Of Bonds-Matur1ty, rs years
fedesmable at the option Of the ssc.
rstary OF the treasury in 10 years.
Denoninauons OF Bonds-y6V and
Duiupies Of sou.
Interest R4te-Four per cent, pay.
able semLaAnualiy on November u
and may Id.
Terms OF Payment-Two Der cent
Hpon application, 10 per cent Nov. Is,
~ per cent Dec. 10 and ~ per cent
Jan 10. 1918. The privilege OF con-
Nerung bonds Of THIS issue INTO bonus
OF any succeeding issue bearing Q high.
or interest rate than 4 per cent our
1ng me period of the war Is extended,
anu through an arrangement under
(which BONDS will De printed with only
changed at the en- of two years for
the bonds containing the full number
OF coupOns) deliveries will be prompt.
10 TINS manner the issue OF interim
Certificates will be avoided.
McAooo's Announcement.
Secretary McAdoo's announcement
reaos as follows:
With the approval of the Presi-
dent have determined to offer, Oct.
], 1917, S3,0UU,U0U,UU0 or more worth
OF United States convertible goiu
bonus, due Nov. 10, 1912, and subject
to redemption at the option OF the
United States at par ana accrued in
terest ON and alter Nov. Is, 1927. The
bonds will bear interest from Nov.
10, 1917, and the interest will be pay
able on May 10 and Nov. l5 in each
year.
'"Ihe exact amount of bonds to be
issued under this Offering will depend
on the amount OF subscription re-
ceived. 1t Is, OF course, to be expected
that subscriptions considerably in ex-
cess of $3,00O,OO0,OO0 will be received,
and in that event the right is reserved
to allot bonds in excess of S3,0OO,0OO,-
600 to the extent OF not over one-halt
Of the sum by which the subscriptions
received exceed $4,000, 100000. In 9th.
er words, if subscriptions to the ex.
tent Of $1,000. 100000 are filed $4,000
100000 OF bonds may be allotted.
At Par and Accrued Interest
"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 all tax
alton now or hereafter imposed by the
UNITED States, any state or any of the
possessions Of the United States OF
by any local taxing authority except
(a) estate or inheritance taxes and
(b) graduated additional income tax
es, commonly known as surfaces. and
excess profits and war profits taxes.
now or hereafter imposed by the Unit
ed States upon the income or profits
of individuals, partnerships. associa.
tons or corporations. The interest on
an amount of bonds and certificates
authorized by said act the principal
Of which does not exceed In the aggre-
gate $4,000. owned by any individual,
partnership, association or corpora
ton. shall be exempt from the taxes
provided for in clause 90 above.
IF a subsequent series Of bonds
(not including United States certifi.
cate Of Indebtedness. war-saving Ger.
uficates and other obligations matur.
rS not more than five years from the
of such obligations. respectively
b. ~ interest at higher rate than
PSI ce3J &c annum shall, under the
authority of said act approved Sept.
"a. 1917, or any other act, be issued
by the United States before the termi
nation of the war between the United
States and the Imperial German Gov.
eminent (the date OF such termination
to be fixed by proclamation of the
President Of the United States), then
the holders of bonds of the present
series shall have the privilege, at the
option OF the several holders, of con.
verting bonds, at par, into bonds bear
Ing such higher rate of interest, at the
Issue price of bonds of such subse-
quent series. not less than par, with
an adjustment of accrued interest.
Conversion Privilege.
such conversion privilege must be
exercised. If at all. at any time within
the period, after the public offering OF
bonds of such subsequent series, be.
ginning at the date of issue of bonds
of such subsequent issue, as such date
shall be fixed in such public offerings.
and terminating six months after such
date Of issue, and under such rules
and regulations as the Secretary of
the Treasury shall have prescribed.
The bonds to be issued upon such con
version OF bonds OF the present series
shall be substantially the same in
form and terms as shall be prescribed
hy or pursuant to law with respect to
Ne bonds OF such subsequent series,
"a .IxKa A. ..s. l.