The Bridgeport evening farmer., 1917-09-28
M'AD0O TO OFFER 5 BILLION OR MORE IN BONDS ON OCT.1
Valves Limit Total On New War Loan Expects 10000, GOO Buyers-Declares Great Popular Demand
 for Bonds Will Impress Enemy

Washington. Sept. Secretary Mo IAdoo last night announced the: terms and details of the second issue of Lib erty Loan bonds. r.zt5t r.t i- 4 .- He will. offer on Oct. 1, 8, 900. 0O0, ,OOt
 or more perscent. bonds. The exact
 amount of the issue will depend on the subscrip tons, and bonds may be
 issued up to one-half the oVersub- scriptton. The bonds will be in de- nominations of $50 and multiples o1 that sum. A~ s,.. btt; e4
 The exemption extended, to-, these bonds applies to all forms Of Federal and State taxation except estate -ant inheritance taxes, graduated income taxess known as Surtaxes, and excess war profits taxes, now or hereafter imposed by the United States, on in-
 come or profits of individuals. part nerships. associations, or corporations Interest Son not to exceed S, 1000 will be exempt from the taxes named Holders of the bonds may convert them into any war bonds of a higher
 rate of interest that may be issued later. Subscriptions are to be made through Federal Reserve Banks and will close on Oct. 27. Interest on the bonds will begin on Nov. 15.
 | Secretary McAdoo's statement, de- lining the terms of the issue, is as fol
 lows:,
 With the approval of the President have determined to offer on Get 1917, three billion or more dollars o1 | United States of America 4 per cent convertible gold bonds, due on Nov l5, 1S42,. and subject to redemption al | the option of the United States at paI | and accrued interest on and alter Nov. Is, 1927. The bonds will bear in- terest from Nov. 15, 1917, and the in-
 terest will be payable on May 15 and Nov. 15 in each year.
 The exact amount of bonds to be issued under this offering will depend
 on the amount of subscriptions re- ceived., Tt is, of course, to be expected that subscriptions considerably in ex-
 cess of $S.000. 900, 900 will be received
 and in that event the right is reserved to allot bonast In excess of 8, COG. .OO0, ,0OO to the extent of not over one-haM of the sum by which the subscriptions
 received exceed 8. .o00O0O. .Oe0 In other words, if subscriptions to the. extent
 of s5,000. .0O0,OoO are filed $4,00O 0O0, 900 of bonds may be allotted.
 The bonds will be offered as be- fore. at par and accrued interest and will be in denominations of $50 and multtples thereof.
 The bonds, shall be exempt both
 as to. principal and interest, from all
 taxation now or hereafter imposed by the United States any State, or. any
 of the possessions of the United States,
 or by any local < taxing authority,
 except (a) estate or inheritance taxes,
 and Ib) graduated additional income
 taxes commonly known as surtakes;
 and excess profits and war profits taxes, now or hereafter imposed by the
 United States, upon the income or profits of individuals, partnerships, as- sociation, or corporations The inter-
 est on an amount of bonds and certifin
 cates authorized by said act the prin-
 cipa1 of which does not exceed in the aggregate 1000, owned by any indf- vidua1, partnership, association, or corporation, shall be exempt from the taxes provided for in clause (b5i above.
 If a subsequent series of bonds, not including United States certificates of indebtedness, war saving certificates, and other obligations maturing not more than five years from the issue of such obligations. respectively, bearing interest at a higher rate than 4 per cent. per annum, shall, under the au- thorfty of said act, approved Sept. 24.
 1917, or any other act be issued by the
 United States before the termination of the war between the United States and the Imperial German Government. (the date of such termination to be