Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-28
BONDS TO PAY q PER CENT.
PAYABLE SEMIANNUALLY
To Mature in rs Years; Redeem
able, at Option of Treas
ury, in Ten Years. ~
ISSUE IN MULTIPLEs OF FIFTY
Calls for 2 Per Gent on Application,
1S on November 10. 40 on Decem.
Der IL and 40 on January 16.

WASHINGTON, September 27-Sec.
retary McAdoo tonight announced tho
details of the second Liberty loan.
which will he offered to the public
October /. The chief features are:
Amount-sS.ooo.oo 100000 or more. tho
excess not to exceed one-half OF the
amount of oversubscription.
Terms OF bonds-Maturity. TWENTY
five years; redeemable at the optien
Of the Secretary of the Treasury in
ten years. Es
Denominations OF bonds-s5o AID
mutiples of $50. -
Interest rate-4 per cent. payable
semiannually on November Is and May
Is. IA
Terms of payment per cent upon
application. Is per cent November is,
40 per cent December IA and 40 per
cent January is. 1918. -
The privilege of converting bonds: Of
this issue into bonds OF any succeed
Ing Issue bearing a higher interest rate
than per cent during the period of
the war Is extended. and through an
agreement under which bonds will be
printed with only four coupons Instead
of fifty tto be exchanged at the end
Of two years for the bonds contafn-
Ing the full number OF coupons). de-
liveries Will be prompt. In this man.
ner the issue OF interim certificates
will be avoided.
SUBJECT To REDEMPTION
AFTER NOVEMBER, 1877
reads as follows: 80
With the approval of the President.
have determined to offer on October
! l. ,Ty. .ls.A
States of Americar4 per cent converts,
ble gold bonds. due on November Is,
1912. and subject to redemption at tho
option OF the United States at par
! and accrued interest on and after No.
vember Is. 1927. Tie bonds will bear
interest from November is, 1917 and
the interest will be payable on May
Is In each year. 80
The exact amount Of bonds TO Do
Issued under this offering will de-
pend on the amount of subscription
received. 1t is, Of course, to be ex-
pected that subscriptions considerah bly,
in excess of $1,000 10000 will be re-
ceived, and in that event the rightf1s
reserved to allot bonds in excess OF
s3,o000 100000 to the extent of not Over
cne-half Of the sum by which the SUBJ
soriptions received exceed $3,00o,o0a.
000 In other words. If subscriptions
to the extent of 5000. 900 900 are fled,
S4.0o0.o0oo0o OF bonds may be allotted.
The bonds will be offered as before
at par and accrued interest. and will be
IN denominations of $50 and multfpiea
thereof" ~
The statement then explains how.
under thes war credits bill. which au-
thorized the bond issue. the bonds ara
ey
estate or Inheritance tax and income
surtaxes. i.,s9g
SUBSCRIPTION WILL BE IN
BEFORE OCTOBER 2Y
SUBSCRIPTIONS for the bonds must
reach the Treasury Department.. WASH
inston. d. C.. Federal reserve hank
or oranch thereof or some incorpor-
M ateu oank or trust company In tho
o"'tea states mot including. outlying
terrltorles and possessions) on or hs,
lore the close of business October ~
1917. The applica tions must be aa.
companied by payment Of per cant
Oh the amount applied for, and sub
sequent installments upon bonds NJ
iotted will be due as follows:
Eighteen per cent on Noyenb.r 1k
1917. 10
Forty per cent on December a.
1917. IL
forty per cent on January IL 1914
oh the latter date, accrued intereat
on the deferred instaIments will sIoa
be payable. a1So ''
am very glad to be able 10 ~
houhce that by authorizing the an.
sia'ihg OF these bonds with only four
coupons attached instead of the fun
"umoer OF fifty coupons Il vii, ha
Possioie to have the actual bonda
ready Tor delivery as soon as full nav
inents are completed. thus avoidinp
.he trouble and delay incident to tha
issue OF interim receipts or temporarv
ponds On and after November *
i'la' the holders of the bonds will
nave opportunity to exchange them for
new bonds having attached thereto
coupons for the balance of the period
Tor which the bonds will run. !.
BONDS WILL BE READY
FOR IMMEDIATE DELIVERY
1T is also expected that on or about
October TO- 1917, there will be in tina
hands OF the several Federal reserve
banks supply of these new bonds
ready for Immediate delivery to SUBJ
scribers In amounts not In excess Of
$1,000 to any one subscriber. asainst
payment in fun. thereby avoiding Ia
such cases the trouble incident to
waiting until after allotment for de-.
livery.
The campaign for the sale OF these
bonds will open Monday, October Y. 4
and will close Saturday. october a..
confidently hope that when tho cam.
paign 10 over, II will be found thxt