Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-05-10
Smallest Denomination Is $5O;|
Two per Cent Must Be Paid
on Application; Two Months
for Remainder.
M'ADOO TO REDEPOSIT
MONEY IN LOCAL BANKS
Subscriptions Fall Off Heav-
lily, Wednesdays Receipts
Being Only About 0ne-thifd
of Tuesdays.


Washington, May 9.--The $1,000
100000 issue of liberty loan bonds,
Secretary McAdoo announced tonight.
will be in denominations OF from $50
to 100000, will mature IN thirty
years, and may be redeemed by the
government in fifteen; will be subject
to payment in four installments and
will carry the privilege of conversion
into any bonds which may be issued
later during the war at higher rate
of interest.
Two per cent OF the subscription
must be paid on application; the re-
mainder will be paid as follows:
June 2S, Is per cent; July 30 20 per
cent; August Is, 80 per cent and Au-
gust 80, so per cent
The bonds will be dated June Is
instead of July l, the date previously
| designated, and interest will be pay
able semi-annually on June Is and
December Is.
Two Classes of Bonds.
Two classes of bonds will be issued,
coupon and registered. The lowest
denomination of registered bonds will
| be 800, other denominations being
$500, $1,000, $4,000. $10,009. $4,000
and 100000. Coupon bonds, payable
to bearer, will be issued in denomi-
nations of $50, 500, $500 and
81, 900.
The present offering, it was an
nounced, will be limited to $1,000
| 100000.
Applications must be made on or
before June Is, 1917" reads the for
NAL announcement, Subject to the
| right of the secretary, in his discre-
ton, to close the subscription books
at an earlier date"
The statement then gives the terms
of payment and continues
Accrued interest will be payable
with the full and final payment eau
gust 800. Provision will be made to
pay earlier the full prices upon
terms and conditions determined by
the secretary.
VIII Releposit Money.
I'm order that the various pay
NETS required for the settlement OF
| this transaction may be completed
with the least possible disturbance of
monetary conditions, the secretary
will avail himself of the privilege to
re-deposit the proceeds of the bonds,
insofar as 1t is practicable, with the
various national and state banks and
trust companies throughout the coun-
| try"
Offerings and estimates of sub.
scriptions to the bond issue were re-
ceived in large volume today. The
first liberty loan club to claim the
honor Of priority was formed at Cum
berland, Nd, of men who had
pledged to pay stated sums monthly
for ten months in buying bonds. To-
days offers from some Of the chief
cities, up to p. m, were announced
as follows:
Subscriptions Fall orr.
New York, $11,156,O00; Boston
s1,225,o0O; Chicago, $545,O00;. Phila-
delphia, $535,00O; San Francisco
$S75,OO0; Los Angeles, 100000.
| 1t was by far the lightest day, SC
far as the thirty-five chief cities OF
the country were concerned. The
total was boosted by an estimate oi
the Pittsburgh clearing house, how.
ever, that the banks of the city and
their customers could dispose oi
$30,000,O00 worth of the bonds. In.
cluding this estimat, the days total
SO far as tabulated, reached $48.3S7,.
900, little more than one-third Of the
total of yesterday.
| NNt ~ NNAtr,ktI,-0 -