Evening star., 1918-11-23

Four liberty loan issues have been
floated by the government, but the
conversion privileges extended to the
first and second loans have created
four additional issues, without, how
ever, increasing the amount Of any of
the loans.
New York city. the chief market for
seven issues, there being no special
quotations for the first 4As of the
fourth loan, both the original Az and
the first 4As'' being included under
fourth AS"
Loans are known as follows:
First 311ss, original issue. dated
June Is, 1917; due June Is, 1947;
redeemable on and after June Is, 1882,
with interest payable semi-annually,
June Is and December Is. These bonds
are free of all income taxes and may
be converted into any later issue of
liberty bonds within six months from
date of such new issue. The bonds,
however. are not exempt from state
and inheritance taxes, nor are they
receivable in payment of these taxes.
First As, first 31ss converted into As
of the second loan, dated November 10,
1917; due June IS, 1947; redeemable
June Is. 1882. with interest payable
semi-annually June Is and December
lis. Up to November 9, 1918, these
bonds were convertible into AIS OF
third loan. These are free from state
and county taxes. are subject to in
heritance taxes and subject to fed
eral surtaxes and profits taxes with
the following exceptions.
They are free from the normal in
come tax and under an act of Congress
at the time of the authorization OF
the fourth liberty loan, an exemption
from income taxes and Surtaxes was
extended to the second and third is
sues in the aggregate ''up to an
amount (principaD not exceeding
half times the amount of fourth lib
erty loan bonds originally subscribed
for and still owned at date of making
annual income tax returns" In addi-
tion to this all liberty bonds are ex-
empt from all taxes up to the income
on $4,000, face value, of liberty bonds
| The first IS are not receivable in pay
ment of estate and inheritance taxes.
Second As, the original issue of the
second loan. dated November Is. 1917;
due November Is. 1912; redeemable on
and after November Is, 1927. with inter-
est payable semi-annually, May and No
vember Is. These bonds were con-
vertible in the second Ans Of the third
loan up to November 9, 1918. They
hold exactly the same privileges re-
garding tax exemption as do the first
As of the second loan.
First ANS, first 31ss or first As
converted into AZ of the third loan
dated May 9. 1918: due June Is, 1947; re-
deemable June Is. 1882. with interest
payable semi-annually, June Is and De-
cember 10. They have no conversion
rights and bear the same exemption
privilege as do the bonds of the first and
second As. except that they are receiv-
able in payment of federal. estate and
inheritance taxes, if continuously owned
by deceased for six months prior to
death.
Second AIS or second IS converted
1918; due November Is, 1912; redeemable
on and after November Is. 1927; interest
payable semi-annually. May Is and No
vember Is. They have no conversion
rights and have the same tax exemp-
uonS as the first IS, second IS and first
Ans. and are acceptable in payment OF
estate and Inheritance taxes under like
conditions.
Third ANS. original issue third loan;
dated May 9, 1918; redeemable at ma
tIrity, September Is, 1928. with interest
September Is. They have no conversion
rights and have the same exemption
privileges as the other issues except the
first h2s, and are acceptable under like
conditions in payment of estate and in
heritance taxes.
First Ans fourth loan. first 311s con-
verted into 4lis of the fourth loan;