The Watertown news. [volume] (Watertown, Wis.) 1917-1919, 1918-04-05
PRESIDENT SIGNS
WAR LOAN BILL
Measure to White House After
Getting Signatures of Mar
shall and Clark.
CAMPAIGN TO OPEN SATURDAY
Third Liberty Loan Will Mature Sep
tember IS, 1923, and Will
Bear Interest From
May g.

Washington, April 5-President
Wilson at 8:12 last night signed the
bill authorizing the third Liberty loan.
Congress put the finishing touches
on the measure in the afternoon, and
Speaker Champ Clark of the house Of
representatives signed it at 5:07.
Vice President Marshall, presiding
in the senate, was notified, and he
placed his signature on the measure
at 3 :OS o'clock. 1t was then taken
to the White House.
The third loan bonds will mature
September 10, 1923, the treasury de-
partment announced, and will bear in
terest from May next, payable semi
annually on September 15 and on
March Is.
The campaign will last four weeks,
beginning Saturday and ending May
4. Banks will be given five days in
which to tabulate and report subscrip-
tions.
Deliver Bonds May 9.
The treasury department issued the
following statement:
Payment in full may be made with
the application On or before May 4,
but bonds will not be delivered before
May 9 on any subscription for an
amount exceeding $4,000.
Full payment may be completed
upon subscriptions for any amount on
May 9 or any subsequent installment
date
Payment OF any installraent, In
Guiding the first installment of per
cent, or payment in fIin,. may be made
in treasury certificates of Indebtedness
except those maturing April % and
June 25.
System for Banks.
'Qualified depOSitary banks and
trust companies may make payment
by credit upon the subscriptions Of
themselves and their customers, but
only to the extent that they cannot
make payment in treasury certificates
of Indebtedness.
Third Liberty loan bonds which
have been owned by person for six
mouths prior to the date of his death
will be acceptable at par and accrued
interest in payment of United States
Inheritance taxes upon his estate.
This applies also to AZ per cent bonds
issued upon conversion"
Amount Is $3,0OO,OO0,oOO.
The amount of the loan will be S3,-
OOO,O0O,OOO, the right being reserved
to allot bonds up to the full amount of
any oversubscription. The bonds will
bear interest at the rate of Az per
cent annum; the first loan coupon
will be for 100 days interest and will
be payable September Is, 1913.
This arrangement as to interest
dates is made in order to avoid hav-
ing the interest payments on this
series of bonds fall upon approximate
ly the same dates as those of the sec
ond Liberty loan.
The bonds are not convertible ana
are not subject to call for redemption
before maturity. The bonds carry the
same exemption from taxation as
those of the second Liberty loan.
First New Bond Printed.
Within an hour after President Will
son signed the bond bill, the first
completed bond of the third Liberty
loan came from the press of the bu-
reau of engraving and printing. 1t
was a $50 "baby bond" and was care
fully laid aside by James L. Wilmeth,
director of the bureau, for special dis
position, to be determined later.
Forty thousand more bonds are
ready, 100000 will be by Satur-
day and thereafter they will be turned
out at the rate of 100000 day to sup
ply demands for cash sales and imme-
diate delivery.
Workers Already Busy.
Reports to the treasury told Of
busy Liberty loan workers in cities
and villages all over the country pre-
pairing for enthusiastic celebrations
Saturday for the opening of the loan
campaign and the anniversary of the
entry of the United States into the
war.