New-York tribune., 1918-04-10

$40, 1000, 900 of Loan
Bonds Taken in Day
BY Big Buyers
Continued from page 1

Is turning. There has begun to flood
through this whole country Il great
wave of patriotism and determina-
ton, such as l doubt we have ever
witnessed before. 1t is carrying every
thing before It. and when that great
down upon the enemy we shall surely
see the forces of darkness over
whelmed''
when | was at the British front,
not SO many weeks ago, officers there
told me frankly they were expecting Il
great German drive in the early spring;
that by sheer weight Of men and Of
numbers the Germans might bend and
haul and push them back at one point
or another, but they would never break
through. So whenever we get the bull
letins of a bad day on the Western
front / take comfort in this prediction
and have absolute faith in it.
"We know full wc!l that our men
over there have the spirit to hold the
line firm, and then when the time
comes go over the top.
"Have we the same spirit?
IF your answer is yes, then you
will give that answer in unmeasurcd
terms by the superb the devoted work
you Will give to this Liberty Loan, by
the overwhelming subscription you OBJ
tain for it,"
Parade Nets S3.600,OO0
Announcement was made yesterday
by the loan committee that the sale
of bonds on the streets Monday night
as a result of the parade of $4,000
members of the New York Guard was
$3,600,000 The East Side yielded a
large part Of this amount.
Loan activities will reach focus on
the East Side tonight, when a meeting
of the United Hebrew Trades, which
has 100000 members, is held at the
United States Bank at II Dclancey
Street And the Jewish managers and
actors VIII mobilize for the offensive
for war dollars at midnight supper
at the Stuyvcsant Casino, 112 Second
Avenue.
The programme of Liberty Loan at
~tractions to-day will start with BUY
a Bond" parade of elephants and horses
from the Barnum e. Bailey circus. 1t
will start at the Madison Square Gar
den at 10 o'clock, and will proceed
through Twenty Street to
Fifth Avenue, rorth to Fifty nth
Street, east to Madison Avenue. and
back to the Garden.
In the train of the parade will be
a dozen automobiles carrying Liberty
Loan speakers, who will drop out of
the parade at various points along the
route and drive home bond arguments
TO the crowds who will have gathered
Miss Mary Pickford is scheduled to
speak at the Sub-Treasury meeting at
noon. at the Liberty Bell in City Hall
at 1880 p m.. and at the Liberty The
atre. in front of the Public Library
at 3 O'Clock. Other patriotic meetings
will be held throughout the city dur
ing the day.
The Arch bishop of York will make
his last public speech in this country
at a Liberty Loan mass meeting at
Carnegie Hall Thursday night Other
speakers will be Mrs. August Belmont
and George Wharton Pepper.
Bond Conversion Privilege
To clear up misunders standings which
have arisen among purchasers and
sellers of Liberty bonds regarding con-
version, A. NJ. Anderson. director Of
distribution, made this statement yes
terday:
The conversion privilege of the out
standing Liberty bonds should be clear
~ understood, No outstanding bond
carries the right of conversion into a
Az per cent bond running for ten
years, which is the length of the issue
now being sold
Holders of the 31as COR Of the As
issued on conversion Of the 3Hs) may
convert into a thirty-ycar ~ per cent
bond, rodeemable at The option of the
Secretary Of the Treasury after fifteen
years from the date of the bonds Hold
ers Of the second loan As may convert
into a twenty-five year IA per cent
bond. redeemablc at the option of .he
Secretary of the Treasury after ten
years. None Of the "a per cent bonds
so issued on conversion Of outstanding
bonds VIII in turn caTvw conversion
privilege.
The 31s per cent bonds, if not con-
verted within the period set by the
Secretary of the Treasury. will still re-
tam the right to convert into subsc-
quent issues bering a higher rate of in
terest than 3hs per cent and issued dur
ing the period Of the war Except short
term issues). The per cent bonds,
both those issued through conversion
OF o12s and those OF the second loan,
VIII not again have any right of sub
sequcnt conversion. lf the holder de-
sires to exercise his right he must do
so during the next few months and
within the period set by the Secretary
Of thc Treasury. After the period set
py lhc secretary OF the Treasury the
only issue now outstanding and carry
ing conversion privilege Win be the
unconverted 3As
New Bonds Not Convertible
Such of the 3z per cent bonds as
are convertible into the thirty-year "a
per cent bonds viii become identical
with regard to tax features with tho
new 4 s and will cease to have the
TAX features originally supecified in
the 312 per cent bonds.
ne new bonds now being sold arc
repayabic absolutely at the end of ten
years and are not bjcct to prior re-
acmptlon, nor are they convertible.
Huyers should understand clearly that
inc only way the tcn-year "a per cent
bonds may be secured is through sub
scrlptlons to the new issues which the
.n,ecretary Of the Treasury is otTcring.
me ten year Il per cent bonds canno,
be secured through conversion of any
outstanding issue"
Inc following subscriptions to the
Liberty Loan we're announced in this
city yesterday:
United States Steel Corporation and ON
pioyes, S5oo0J, 600 the Prudential Insurance
company OF America, 10000 GOO Citizens
Hationai Bank, $500 900 Mutual Bcnofit
insnranec Company Newark, N a. 81. 900.
ooo New York Produce EXCHANGE i,ibcrty
Loan Committee. $2.20i, roo: the Republic
Iron and steel Company. Sg.O5o 900 Han
i'on Trust Company (Brooklyn), 81 500. 900
Tobacco Trade. 81 500 900: United States In
nuStrial Alcohol, $500, ,000; Dime SAVINGS
rank *l,UV0OO0: American International