The Bridgeport evening farmer., 1917-09-28

1xed by proclamation of the Presi- dent 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 converting their bonds, at par, into bonds bearing 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. F t"Such conversion privilege must be exercised, if at all, at any time within l 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 offer ing 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
 conversion of bonds of the present series shall be substantially the same In form and terms as shall be pre- scr1bed by or pursuant to law with respect to the bonds of such subse- quent series, not only as to interest rate ,but also as to convertibility, eff future bonds be issued at still
  yertibility, and as to exemption from
 taxation, if any, and in all other re- spects, except that the bonds issued upon such conversion shall have the
 same dates of maturity of principal and of interest, and be subject to the same terms of redemption before ma
 turity, as the bonds converted and such bonds shall be issued from time
 to time if and when and to the ex- tent that the privileges of conversion conferred shall once arise, and shall exercised. "If the privilege of conversion so conferred shall once aris, and shall not be exercised with respect to any bonds of the present series within the period above prescribed, then such privileges shall terminate as to- such
 bonds, and shall not arise again though again thereafter. bonds be is- sued bearing interest at higher rate or rates than per cent. per annum.
 Subscription for the bonds must reach the Treasury Department, Washington. D. C.. Federal Reserve bank or branch thereof, or some in corported bank or trust company in the United States (not including out lying territories and possessions) on orlbefore the close of business Oct. 27, s1917 The applications must be ac- companied by a, payment of 2 per cent. of the amount applied for, and subsequent installmentsF upon bonds allotted will. be due as follows:
 x Eighteen per cent. on Nov. 15,1917. HFortyp CT cent. on Dec. IA, a1917.f : Forty percent. on Dec. 14g1917.
 "On the latter date accrued inter est on the deferred insta1lments will also be payable.
 T am very glad to be able to an nounce that by authorizing the en- gravfng of these bonds with only four coupons attached instead of the full number of 50 coupons, it will be possi- ble tD have the actual bonds ready for delivery as soon as full payments are completed, thus avoiding the trouble and delay incidentito the issue of in- terim receipts or tenn porary bonds. Oneand after Nov. 15, 1919, the holders of the bonds will have opportunity to exchange them for new bonds having attached thereto coupons for the bal ance of the period for which the bonds will run.
 Tt is also expected that on or about Oct 10, 1917, there will be in the hands of the several Federal Reserve Banks a supply of these new bonds ready for Immediate delivery to subscribers in amounts not in excess of $1 ,0O0 to any one subscriber against payment in full. thereby avoiding in such cases the trouble incident to waiting until after allotment for delivery. Plans are also being perfected whereby the banks all over the country can obtain bonds for the making of prompt delivery against these small, subscriptions. As the bonds wilk bear interest from Nov 15, and as those who pay in full prior to that time will not obtain any interest on their money until that date, this Is | offered as an alternative proposition | to those who are anxious to obtain | immediate possession of the bonds for l which they will be limited to amounts of not over $1,O0O to any one sub | scriber is that all subscriptions in ex- | cess of this amount will be subject to 1 allotment. |
 The campaign for the sale of these ponds will open Monday, Oct. 1, and will close Saturday, Oct 27. conf- 1ently hope that when the campaign s over, it will be found that the total number of subscribers is at least ten million and the total subscriptions in excess of five billion dollars. Such a response would be notice 10 our. ene- n1es that the American people as a whole intend to support with all their bower their government Tn the vigor- 'us prosecution or this war and the l Ich1evement of an early and lasting