Okolona messenger. (Okolona, Miss.) 1900-current, 1917-10-18
SEC'Y NJ Al00 GiVESFULL
EXPLANATION Of SECOND
LIBERTY LOAN BOND ISSUE
TREASURY HEAD OUTLINES IN.
VESTMENT AS 1T AFFECTS
BOTH LARGE AND SMALL
SUBSCRIPTIONS - ITS
TAX EXEMPTIONS.
System Of interchangeable Coupons
Makes Early c@iVery to Buyers
PossibIe-Bonds Convertible
Into Subsequent Issues.

Washington, d. C.-Secretary Nc.
Adoo has announced the details of The
second Liberty Loan, which has just
been offered to the public. The cllet
features are:
Amount, $3,000,00D.00O or more, the
excess not to exceed one-half of the
amount OF oversuDscnpuon.
Terms of Bonds-Maturily, 20 years;
redeemable at the oprlon Of the Sec
rerary of the treasury in 10 years.
| Denominations OF Bonds-S50 and
muitlples of S5O.
Interest Rate-Four per cent, pay
able selni-annually ON November Ii
ana May 10.
Terms OF Payment-Two per cent
upon application, Is per cent Nov. 10,
Az per cent Dec. 10 and Az per cent
Jan. 10, 1918. The privilege OF con-
verting bonds of this issue into bonus
o. any succeeding issue bearing high
er interest rate than per cent our
ing the period OF the war is extended,
and through an arrangement under
which bonds will be printed with only
tour coupons instead OF So Ito be eX-
Changed at the end OF two years for
the bonds containing the full number
oil coupons) deliveries will be prompt.
III this manner the issue of interim
certificates Will be avoided.
McAdoo's Announcement.
Secretary McAdoo's announcement
reads as follows:
With the approval Of the Presi-
dent have determined to offer, Oct.
l, 1917, $3,000,000,Q00 or more worth
of United States convertible gold
bonds, due Nov. Is, 1942, and subject
To redemption at the option OF the
United States at par and accrued in
terest on and after Nov. Is, 1927. The
bonds viii bear interest from Nov.
10, 1917, and the interest will be pay
able on May 10 and Nov. Is in each
year.
THE exact amount of bonds to be
issued under this Offering will depend
on the amount OF subscription re-
that subscriptions considerably in ex.
cess OF $4,000, 100000 will be received,
and in that event the right is reserved
to allot bonds in excess of So 100000
600 to the extent of not over one-hait
OF the sum by which the subscriptions
received exceed $4,000, 0,000. In otl1s
er words, if subscriptions to the ex
tent OF $4,000, 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.
THE bonds shall be exempt, both as
70 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
ID graduated additional income tax
es, commonly known as surtaxes, 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 $1,000, owned by any individual,
partnership, association or corpora
ton, shall be exempt from the taxes
provided for in clause (b) above.
'If a subsequent series of bonds
(not including United States certifi-
cate of indebtedness, war-saving GER
tificates and other obligations matur-
ing not more than five years from the
issue of such obligations, respectively
bearing interest at higher rate than
4 per cent per 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, CT 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
by or pursuant to law with respect to
the bonds Of such subsequent series,