The Hartford republican., 1917-05-04
FIRST WAR loan
Two BILLION
BONDS no BE OPEN TO POPuLAI,
SUBSCRIPTION TILL
JUNE IL.
DELIVERY TO BE JULY |
To Go At Par, ion
Looked for by -, ",tarr
Mctdoo.

Washington, May Secretary
McAdoo announced tonight that the
iirst offering OF bonds authorized
under the war finance law would be
2 two billion dollar Liberty Loan
issue, open to popular subscription
at par, and that subscriptions would
be received till June Il next. The
bonds will he dated July ], and will
be ready for delivery on that date.
Although many organizations in
addition To the banks Of the coun-
try will be utilized in noatinE the
bonds. the twelve Federal Reserve
banks will be designated as central
agencies in their respective districts,
the bonds and caring for other de-
tails. The proceeds OF the issue will
be deposited in as large number of
hanks throughout the country as
practicable, and will he withdrawn
gradually.
Interest on the bonds will be pay
able semi-annually on January and
July l. Details AS to their denomina-
tion have not yet been prescribed,
but the lowest denomination, il was
announced, will be so small as to
place the bonds within the reach of
every investor.
Among the agencies which will be
authorized 10 accept subscriptions,
M McAdoodesignat n Dapks, trust
companies, private bankers, bond
houses. postOtiiccs. express compan-
les, department stores, newspapers
and other volunteers" who have
come forward in great numbers.
Many offers OF assistance have been
received from women's organizations
and as soon as possible the Secretary
will organize woman's comittee TO
assist in the work of obtaining sub
scriptions and distributing the issue,
Oversubscription Likely.
4 large oversubscription, MIR. Me-
Adoo anrDunced. appears likely. In
u statement making the announce
ment Mr.. McAdoo said:
4 have determined to make an
initial Offering of $4,000. .O0O,0 900 OF
the 31a per cent Liberty Loan" OF
1917. The bonds will be dated July
l, 1917. with interest payable semi
ahtual;y January / an't July I. Tho
maturities will be- announced later.
In accordance with the provisions OF
the act, the bonds will be- convortabie
into bonds bearing higher rate of
interest than 81 per cent. il any
subsequent series OF Doais shall no
issued at a higher rate " interest
before the termination of the war
beween the United States and the
German Government.
The Liberty Loan" vii. b. OFF,
ersa at par AS poDuiar subsagip-
ton and ample opportunity vii. ne
given To every man ard woman IN
the United States who wishes TO sub
scribe 10 secure "a absolutely safe
free frOTc Federal, STATE
or local taxation except. Of course,
inhcritonce taxes. The bonds will
be- IN such nominations a. Will put
them within the reach oi every ln-
VestOr Details as To denominations
etc. have MT been fully
worked out, but announcement viii
be made in due season.
Subscriptions viii be received
until June 10. 1917. The boads will
be ready for delivery 5uly :. Allot-
IIants will be made az rapidly after
Jane l6 as possible. The details as
to manner OF payment iur tine bonds
win be ANNOUNCED later. II IS suih-
cient 10 say AZ the moment that pay
lrent viii bo arranged IL suCh a way
la not to cause Inconvenience or dis
.arhance. Deposits Os funds viii be
made in as large d number OF banks
the country as practicab-
'c, and they viii be Withdrawn as
as the rsouiromens OF the
Government win permit, in order
hat thc(niniiuum@mdupt OF money
shalt ~ bny one tNne be taken out
)i Inc channels vi business