Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-05-03
"L|BERTYLOAN"
BONDS TO PUBLIC
Subscriptions to First Offering Of
$4,000, 100000 Will Be Re
ceived Until June Is.
READY FOR DELIVERY JULY /
Issue in Such Small Denomina-
ton as to Be in Reach of
Every Investor.
READY FOR DELIVERY JULY l

By Associated Press.I
WASHINGTON. May 2.-Secretary
McAdoo announced Tonight that the
first Offering of bonds authorized under
the finance law would be s2.0oo.oOo,-
600 liberty loan issucs open to pop
ular subscription at par. and that sub
scriptions would be received until June
j. next. The bonds will be dated July
l. and Will he ready for delivery. on
that date
Although many organizations. in ad-
dition to the banks of the country.
Will be utilized in floating the bonds
the twelve Federal reserve banks Will
be designated as central agencies in
their respective districts. receiving sub
scriptions. delivering the bonds and
caring for other details. The proceeds
Of the issue will be deposited in as
large number of banks throughout
the country as practicable. and will be
withdrawn gradually.
Interest on the bonds will be pay
. able semiannually OH January and
July !.
The lowest denomination, il was an
nounced will be so small as to place
the bonds within the reach Of every
Investor
Among the agencies which will he
authorized 10 accept subscriptions. Mr.
McAdoo designated banks. trust COM
panics. private bankers. bond houses,
post Offices. express companies. depart
ment stores. newspapers and other
volunteers who have come forward
in great numbers" Many. offers of
assistance have been received from
women's organizations. and as soon as
possible Mr.. McAdoo will organize a
woman's committee to assist in the
work OF obtaining subscriptions and
distributing the issue.
BIG OvERSUHSCRIPTION
APPEARS PROBABLE
\ large oversubscription. Mr.. Nc
Adoo announced, appears likely.
In statement making the announce
ment. Mr.. McAdoo said
Il have determined TO make an initial
Offering Of $1,000 100000 OF the 3ia per
cent liberty loan. OF 1917 The bonds
will be dated July l. 1917. with interest
payable semiannually January and
July ]. The maturities will be an
nounced later. In accordance with the
provisions OF the act. the bonds will
be convertible into bonds bearing a
higher rate Of interest than 81: per
y
shall be issued AT a higher rate of in
terest before the termination OF the
war between the United states and the
German government.
The Liberty Loan will be offered
par as a popular subscription, and
ample opportunity Will hc given to
every man and woman III the United
states who wishes TO subscribe. 10 Sc
cur" an absolutely safe investment
free from Federal, State or local taxa
ton except. OF course. inheritance
taXesl. rhe bonds Viii be III such de-
nominations as will pi; ther within
The reach of evcry investor Details
as 10 denominations, redcmptions. ETC.
have no; been fully worked cut. hut
announcement Will br made in due
! season.
METHOD or PAYMENr
TO RE INADCNCED LATER
subscriptions will he :eceived until
June 10. 1917. The bords will lie
ready for delivery July .\ilotments
will be made as rapidly after June
- as possible. The details as 10 man
ner OF payment for the bonds will be
announced later. II Is sufficient TO say
at the moment that psyments will be
arranged in such a way ls not TO cause
Inconvenience or disturbance. Depos-
its Of funds VIII be made in as large
81 nIr' bcr OF banks throughout the coun-
try as practicable. and they Will he
withdrawn as gradually as the require.
m"ntS oi the government w:il permit,
in order that the ,ninimur. amount OF
money shall at any on. time be taken
GU; OF TIE channels uf husinc.s
'ErOrr ,op,,puni ,.uo
ceircd from, every par, OF the country
iar"e oversubscription 10 the issue
seems beyond .loubt