The Robesonian., 1917-05-07
$2,000,o 100000 LIBERTY LOAN
Government Will Offer Whole Issue
to People at Par Applications

government VIII OfIer Whole Issue
to People at Par - Applications
Must be Filed by June 15-It is
Expected That Loan Will be Great
|, ly Oversubscribed
SecretaryMcAdoo has announced that
the first offering Of bonds under the
Liberty Loan would amount to S2,-
O00, 100000.
In statement making the an
nouncement Mr.. McAdoo said:
Il have determined to make an in
itial offering of $4,000, 100000 of the
| 3 1-2 per cent Liberty Loan for
1917. The bonds will be dated July
1. 1917, with interest payable semi
annually January l and July l. The
,naturities will be announced later.
To Be Convertible
''1n accordance with the provisions
of the act, the bonds will be convert
lble into bonds bearing a higher rate
of interest than 1-2 per cent, if
any subsequent serious of bonds shall
be issued at higher rate of inter
est before the termination of the war
between the United States and the
German government.
The Liberty Loan will be offered
at par as popular subscription and
ample opportunity will be given to
every man and woman in the United
States who wishes to subscribe to an
absolutely safe investment, free from
Federal, State or local taxation lex
cept, of course, inheritance taxes.
The bonds will be in such denomina-
tions as will put them within the
reach Of every investor. Details as
to denominations, redemptions, ETC.,
have not been fully made in due sea-
Sun.
To be Delivered July 1
subscriptions will be received un-
til June Is, 1917. The bonds will be
ready for delivery July I. Allotments
will be made as rapidly after June
Is as possible. The details as to man
ner of payment for the bonds will be
announced later. 1t is sufficient tc
say at the moment that payments
will be arranged in such way as
ance. Deposits of funds will be mad,
il as large a number Of banks
throughout the country as PRACTICABLE
i and they will be withdrawn as grad
I ua!iv as the requirements of the Gov
|. ernment will permit, in order that tn
= minimum amount of money shall a
| any one time be taken out of tn
channels of business.
"Since the great bulk of the cree
it's to be established for the foreig
governments is required for purcha:
es made in this country, the operatio
will be largely transfer, or e.
change, of credits and should have
stimulating and helpful effect upe
ihe general business and financial 81
nation.
Expects Ready Absorption
"The initial issue has been deterr
ined by the essential requirements
our own government for the condu
Of the war and necessities Of the fo
eign governments to which credit
being extended under the provisio
of the act approved April "a, 191
After having received advice and su
gestions from bankers, investme
houses, business men and investors
all parts of the country, I feel CO
. fident of the ability of the mark
-, to absorb rapidly and readily the S
O0O,OO0,O00 offering.
"From communications l have ]
ceived from every part of the cou
try. large over subscriptions to
issue seems beyond doubt.
Reserve Banks Agencies
This is the largest single piece
financing ever undertaken by the g
ernment of the United States, and
order that ample opportunity m
be given anyone to subscribe. | hs
decided to use the IL Federal Rese1
banks which are fiscal agencies
the government, as the central agel
in each of the IL Federal Rese1
districts for receiving the subscr
tiors, for taking care of the dets
Of deliveries of the bonds after
lotment, and for handling the p'
ments Of subscriptions in such M
- ner as will best serve the general b
mess and financial situation. 1
. Federal Reserve banks are admira
- equipped for this service"