The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-09-28
Amount Will Be $3.000,000,-
900 to $4,OOO,OO0,o00, Says
Secretary McAdoo
TEN MILLION PEOPLE
EXPECTED TO SUBSCRIBE
Obligations Begin to Pay In
terest November | 5 and Run
for Thirty Years. With OPP
ton .oRedeem in Ten Years

Washington, Sept. 27,--Secretary OF
the Treasury McAdoo today announced
the second issue of liberty bonds.
II wall amount to from sS.o00,ooV,-
900 TO $4,000. 100000.
Subscriptions will be opened on Oc-
toher /, and close on October II.
Through the elasticity of the sill
no0, 900 goo bond. and certificate Dill
Just passed by congress, the govern
ment this time viii be able 10 taHe
care OF al least half the oTersubscrip-
tons. The new bonds will be issued
above $4,000, 900, 900 TO halt the
amount of the offers over that SUM
Mr.. McAdoo hopes that 100000
people will subscribe for 5000
600 900 bonds In that case S4,ooo,~
00o, 900 will be issued.
such response. said Mr.. McAdoo'
would be notice to our enemies that
our people will support our govern
Inent in this war and in the achieve
ment OF an early and lasting peace
The secretary said:
with the approval of the president,
I have determined TO offer on octo-
l, 1917, $4,000, 900, 900, or more OF
United States OF America per cent
convertible gold bonds, due on No
vemher is, 1872. and subject to re-
demption at the option OF the United
States at par and accrued interest on
and after Novembe Is, 1921 The
bonds will bear interest from Novern-
her Is. 1917. and the interest will be
payable on May Is. and November Is,
in each year.
-The exact amount OF bonds TO be
issued under this offering will depend
on the amount Of subscriptions recais-
ed. II is. OF course TO be expected
that subscriptions considerably in ex-
cess OF SIS, ooo. ooo.6 will be received,
and In that event the right is reserved
to allot bonds In excess of $4,000. 900
600 TO the extent of not over one-haH
OF The sum by which the subscriptions
received exceed $4,000 goo. 900. In
other words, II subscriptions to the
extent OF $1,000 900. 600 are fled, So
600, 100000 OF bonds may be allotted.
The bonds will be offered as before
at par and accrued interest and Wall
J ne In den o. sls aat}onsl oE ss9 and Ynti-
tipfes thereof.
The bonds shan be exempt, both as
to principal and interest. from all
taxation now or hereafter imposed by
the United States. any state or any
OF tha possessions of the United
States, or by any local taxing author
ity, except ta). estate or inheritance
taxes. and OBJ. graduated additional
; income taxes, commonly known as
surfaces. and excess profits and war
profits taxes now or hereafter i'm
posed by the United States. upon the
income or profits Of individuals. part
nerships, associations or corporations.
| The interest on an amount of bonds
and certificates authorized by said act,
the principal of which does not exceed
in the aggregate $1,000 owned by any
individual, partnership. association. or
corporation shall be exempt from the
taxes provided for in clause (b1, above.
If a subsequent series OF bonds not
| including United States certificates Of
tndebt edness, war saving certificates
and other obligations maturing not
more than FIVE years from the issue
| of such obligations, respectively bear
| Ing. interest at higher rate than 4
per cent per annun shall. under the
authority of said act approved Sep
TENDER "a, 1917, or any other act,
the termination OF the war between
the United States and the imperial
German government the date of such
| termination be fixed by proclamation
| by the president of the United States
then the holders of bonds OF the pres
ent series shall have the privilege at
the option of the several holders of
converting their bonds at par into
bonds bearing such higher rate of in
| terest. at the issue price of bonds of
such subsequent series, not less than
par, with an adjustment OF accrued
| interest
Eighteen per cent on November IL.
1917. "a
1917.
Forty per cent on January Is, 1918.
~On the latter date accrued interest
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