New Britain herald., 1917-08-01
TREASURY Notes OF
$300,0O0,OO0 NEXT
May Be Exchanged for Second
Issue Of Liberty Bonds

washington, Aug. 1-Secretarv
McAooo announced last night the Of
, ferlns of $300,0OO.oOO in treasury GER
1lllcates, payable Nov Is and bearing
70 per cent. interest. Subscriptions
~ ,''ls Issue must be made by Aug.
ana payment for them will be due two
days later.
ne volume Of certificates is greater
by %lVo,ooO 900 than previous monthly
issues since the United States entered
the war Tho reason for this is tho
necessity to raise war funds over and
ABOVE 'he regular allowances of cred
II 10 me ALLY countries, according to
the continued tentative program of f.
hahclf'l ala agreed to by this Govern
ment.
The statement issued bv Secretary
McAuoo describes these treasury GER
llllcales as convertible into Liberty
bonus u 'he next issue. The fact that
I'le eNI'i''ise or certificates for bonds
Will take place if bonds are issued
| prior to the maturity of the certiti
| Gates, NOV. Is, suggests that there is
to be second issue of bonds nrior ~
| that GATE. 1t is known, however. that
| there will be no bond issue nrior ~
| Oct /, and there is every reason 10 no.
lieve that no decision has been reached
as to When an issue shall be ordered
| subsequent to Oct l.
The announcement of the offer of
| Treasury Gel tfcates follows:
| secretary McAdoo has decided TO
| resume offerings of United States
Treasury certificates of indebtedness
| in order to provide funds to meet the
requirements of the United States for
| its own expenditures and for it's adj
vances to foreign Governments at war
with the German Government
THE Secretary now offers for SUBJ
scription at par, Through the Federal
Reserve Banks), $30O,00O,OOO Treas
ury certificates of Indebtedness pay
able Nov. Is, 1917, with interest at
the rate Of 1a per centum per annum
from Aug. g. 1917. Subscriptions will
be received at Federal Reserve Banks
until P. M, Aug. Z, their local time.
Payment for certificates allotted must
be made on Aug. 8 to that Federal
Reserve Bank through which sub
| scription may have been made. The
right is reserved to reject any sub
scription and to allot less than the
amount of certificates applied for.
Interim certificates may be delivered
| in the first instance which will be ex-
changeahle for the definite certifi-
Gates Of Indebtedness when prepared.
"Certihcates will be in denomina-
tons Of $1,000, $1,000, 10000, and
500, 900. The act of Congress APP
proved April "a, 1917 provides that
these certificates shall be exempt both
as to principal and interest, of all tax
alton, except estate or inheritance tax
es, imposed by authority of the United
States or it's possessions, Or by any
State or local taxing authority.
Upon ten days notice given in
such manner as may be determined by
the Secretary of the Treasury the Sc
ries of s30O,000,000 certificates now
offered may be redeemed as a whole
at par and accrued interest, on or at
| ter the date set for the payment of the
first installnlent, paNa Bile after allot-
ment, of the subscription price of any
bonds offered for subscription by the
United states hereafter and before the
m turity of the certificates. The GER
tificates of this series, whether or not
called for redemption will be accept
ed at par, with all adjustment Of ac-
crued interest if rendered on pur-
chase price of any such bonds issued
and allotted hereafter and before the
maturity Of the certificates