The Denison review. [volume] (Denison, Iowa) 1867-current, 1917-05-30
BANKINC.AIDf0R
B0NDINVESTMENT
Federal Reserve Banks Throughout
. Country May Adopt Plan Used
by New York Banks.
BANKS ACTS As THE AGENTS
Payments by saiaried Persons During
Ensuing Year to Be Made
Possible.

Payments by Salared Persons During
Ensuing Year to Be Made
Possible.
Washington, d. c., May 27.-Feder
al reserve banks throughout the coun
try are considering distribution of Sic
participating certificates similar tc
those already used in New York, to
aid prospective purchasers OF small
bonds.
Whatever action is taken will be by
the banks individually as fiscal agents
of the government and not by direc.
tion-although probably with the per-
mission-of the federal reserve board.
The treasury today inaugurated its
policy of redistributing among sub.
scribing banks portion of the pro-
ceeds of treasury certificates of in.
debtedness which will be extended in
to distribution of proceeds OF the Lib
erty loan when installments are paid.
OF the $200,O00.OO0 obtained from
the last Offering of certificates of in
debtedness. approximately. $l2S,0OO,'
600 was redeposited among banks
which took the issue. subject to call
and ut an interest rate of per cent.
Offer More Certificates.
1t was intimated that the policy
would be continued with reference to
further offerings of certificates where
practical Another Offering OF $780,
900, 900 probably will be made within
the next ten days.
AS further aid to the small invest
or, the comptroller Of the currency an
nounced tonight that he would en-
deavor to secure banking aid for in
vestors who might not be able to pay
the amounts of their subscriptions pri-
or to Aug. 80 when the last install
ment is due.
"If any man or woman drawing a
salary or wages or having other in
come desires to buy Liberty bond.'
said statement issued by the comp
troller, land having only portion Of
the money available wishes to pay for
the bond during the ensuing year as
his wages or INCOME permit, he will
find the banks willing and glad to ac-
scommOdate him. i: a.e
= = - Promises Banks Aid.
Our banks are generally eviacing
a splendid and commendable patri-
otism and are working unselfishly for
the common good.
But il any such man or woman in
the United States, desiring to invest
in this manner in a Liberty bond
should be refused this accommodation
from his or her local bank and will
communicate with this Office, the
comptroller tof the currency will give
him or her the names of banks which
will gladly carry the Liberty bonds for
such purchaser at a favorable interest
rate and give ample time in which to
pay for them.
1T is probable that after the con-
clusi0n of peace, Liberty bonds will
advance materially in the market.
Three per cent United States bonds
which like the Liberty bonds can not
be used as a basis for national bank
circulation, formerly sold at l03 and
highe:.
Premium Possible.
IF the Liberty bonds should sell
within two years at 1917 which price
is equivalent to United States IS OF
19Gr ut 1913, the investor in the Liberty
bonds would make this 7 per cent pre-
MUM in addition to his 3h per cent
interest with absolute protection OF
his principal" .,...a
In statement issued by the treas
ury department it was made clear
that buyers of bonds in sums of less
than $4,000 are not compelled to buy
in installments but may remit the full
amount when they desire to do so with
their applications.
Subscribers who desire to pay at
once for an amount in excess of one
$50 bond or one 500 bond and do not
object to the loss of increase on their
funds between the time of payment
and June 49," reads the statement,
..can send in their check for the full
amount of bonds at fiat price. that
is without any accrued interest IT.
respective of when their allotment
letter finally goes out.
May Invest at Once
in case OF partial allotment.
check for the overpayment without in
terest will be returned as soon as pos
sible after the allotment.
IF subscribers desire to invest their
money at once they can purchase !
treasury certificates of Indebtedness
up to the full amount of their applica- |
ton and deposit them with application |
with the federal reserve bank and ir-
respective of the maturity of these |
treasury certificates they will be TAX
en- as cash June Is and the interest |
to June Is RENTED to the subscriber |
and such bonds as are allotted to the |
subscriber will be allotted as of June |
Is; that is without any charge for ac-
crued interest.
IN the case of reduced allotment |
the treasury certificates deposited in
payment will be split into one piece
equalling the amount of bonds allotted
and one piece equalling the amount |
of excess payment made subject to
adjustment in cash if the allotment Is
not multiple of the lowest denomin-
alton of the certificates (either $1,000
or $4,000. Certificates for the excess
will be returned to the subscriber and
will continue to bear interest until
they have finally matured as stated on
the face of the certificate"
The food spectators will no doubt
IL ~ tlnny