Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1917-09-28
DETAILS FOR NEXT
LIBERTY CAMPAIGN
ARE MADE KNOWN
SECRETARY SAYS MATURITY
on BONDS WILL Bf TNEN-
TN-FINE YEARS.
WILL BEGIN ON MONDAY
Nation-Wlde Drive OF Second Issue
Win Re for $1,000, 600, 600 or
More hut Not To IN
cced One-Half.


~ Assorin'sd Press
WASHINGTON. Sept % Secrc.
iary McAdoo tonight announced tho
details OF the SECOND liberty loan
which viii be offered 10 the public
October ! The chief features are.
Amount $4,000. 600 oOO or more
the excess not TO exceed one-half oi
the amount Of oyer-subscription
Term OF bonds Maturity . years.
rcdeemahlc az the option of tho sec
rotary OF The treasury in 10 years
Denominations of honds-s5O and
mul' Piles OF $50
Interest rate per cent. payahlc
semiannually ON Nov 10 and MJ,
15
Terms ol payment-Two per cent
ycmhrr IS: 40 per cent Doccmhar
~ and 40 per cent January 10.
1918
Extends Privilege to Change.
The privilege ~ converting bonds
Of this issue into bonds Of any sue.
ccoding issue bearing q higher rate
o. interest thar four per cent during
tho period OF the war Is extended
and through an Arrangement under
which bonds will be printed with
only four coupons instead OF fifty
90 be exchanged at the end OF two
yenrs Tor the bonds containing the
lull number OF coupons deliveries
will De nrompt In this manner the
issue Of Interim certificates will be
avoided
McidOo Makes Statement.
Secretary McAdoo's announcement
reads as follows.
with the approval OF the prcsi-
dent ! have determined 10 offer on
October ]. 1917, three billion or
more dollars OF United States Of
America four per cent convertible
gold bonds due on November Is,
1919. and subject to redemption az
III op'icn OF the United States nt
par and accrued interest on and ar
ter November Is. 1927. The bonds
will bear interest from November ! 3.
1917. and interest will he PAYABLE on
May I 3 and November Is. In each
years
The exact amount of bonds 10 be
issued under this offering will de-
pend upon the amount OF subscrip-
tions received II Is. OF course. 70
be expected that subscriptions con-
siderably IN excess of three billion
dollars will be- received. and In that
event the right g. reserved 10 allot
bonds In excess of three billion dol
lars 10 the extent OF not over one
half e the sum by which the sub
scriptions received exceed three bill
lion dollars. In other words. II sub
scriptious 10 the extent of five bill
lion dollars are filed. four billion
dollars OF bonds may be- allotted
IS Low ~ $50 Issues.
'The bonds viii be offered as be
fore 20 par and accrued interest and
will be- in denominations Of $50 and
multiples thereof
Tho bonds shall Doc exempt. both
aa principal and interest. rom all
taxation now o. hereafter Imposed
hy tho United State amy state or
any of The possessions of the United
States. or by anI local taxing au-
thority. except tAl. estate or inner
iauc, taxes. and lBl graduated ad-
ditioual income taxes commonly
known a. surtaxes and excess prof
its and war profits taxes. now or
hereafter imposed by the United
States upon the income or profits
90 individuals partnership associa-
tions or corporations
The interest on an amount Of
bonds and certificates authorized by
s1id act. the principal OF which does
NOT exceed ln the aggregate 5000.
owned by any Individual partnership
association or corporation shall be-
exempt from The taxes provided for
in clause OBJ above
Exchange for Higher Rate.
90 subsequent series of bonds
mot including United States cert o.
cate. OI Indebtedness. war saving crr-
ffiCatr and other obligations ma
turing not more than five years from
fHa issue 70 such obligations re-
sp,0tiyolyl bearing interest az 70
higher rate than four per cent per
auuum shall. under the authority a.
said acf approved September -.
1917 or auv Other act be issued by
the United States before the termi-
nation of the war between the TN
tied States and the imperial German
government ltho date of such termi
nation be- fixed by proclamation o.
tho president % tho United stafes b
then the holders 81 houds of tha
present series shall have fhe priv
iege AZ the opt.Cn 90 the several h1l.
ders. Of converting their bonds. af
par. into bonds bearing such higher
rate of interest. af the issue prize
of bonds Cf such subsequent ser.rs
not Jess than par with an adius'
mont ~ accrued interest
To- ige same In PORN.
Tho bonds 90 b. (ssu.d un0n su0 n
conversion of bonds Of the present
series shall t' @siant.aiiy tte aamc
ln Torn and forms al shall he per
scrihed hy Or pursuant to las aIfh