The Prescott daily news., 1917-10-11

the Treasury snau 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, not only as to interest rate but also as to convertibility eff future bonds be issued at still higher rate of inter, esD or non-convertibility and as to exemption from taxation, If any. and Ill all other re.- lcts, 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 rsdsmp- tion before maturity, ss the bonds converted: and such bonds shall be is- sued from time to Y if and when and to the extent Lat the privileges of conversion 50 conferred shall arise and shall be exercised.
 If the privilege of conversion so conferred shall once arise, 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 thereafter bonds be Issued 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- corporated bank or trust company In the United States (not including out lying territories and possessions) on or before the close of business Oct 27. 1917. The application must be accom-. panied by payment of 2 per cent of the amount applied for and subse- quent installments upon bonds allot. ted will be due as follows:
 Eighteen per cent on Nov. 15. 1917; 40 per cent on Dec. Is. 1917; % per cent on Jan. 15, 1918. On the lat. ter date accrued interest on the de. ferred installments also will be pay able.
 "I am very glad to be able to an nounce that by authorizing the en- graving of these bonds with only four coupons attached instead of the full number of 50 coupons 1t will be pos sible to have the actual bonds ready for delivery as soon as full payments are completed, thus avoiding the trou- ble and delay incident to the issuance of interim receipts or temporary bonds. On and after Nov. 15. 1919. the holders of the bonds will have op- portunity to exchange them for new bonds having attached thereto cou- pons for the balance of the period for which the bonds will run.
 Immediate Delivery.
 Tt is also expected that on or about Oct. 10, 1917. the will be in the hands of the several Reserve banks a supply of these new bonds ready for immediate delivery to subscribers in amounts not in excess of s1,0o0 to any one subscriber against payment in full, thereby avoiding. in such cases. ths trouble incident to waiting until after allotment for delivery.
 "Plans are also being perfected whereby the banks all over the coun' try can obtain bonds for the making of prompt delivery against these small subscriptions. As the bonds will boar interest from Nov. 10. 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 oota'u immediate possession of the bonds to' which they subscribe. The reason thi, offer will be limited to amounts of no' over Sl.000 to any one subscriber If that all subscriptions in excess of thi' amount will be subject to allotment
 '-The campaign for the sale Of thss. bonds will open Monday. Oct. l. and will close Saturday. Oct. a7. l conf dsntiy hope that when the campsign II over 1t will be found that the tota! number of subscribers is at deast 10. 900 900 and the total suoscr10 Ions IT excess of SS. 900. 100000. Such . TO s-onse would be notice to our enemle.