Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-04-14
TERMS Of VICTORY
LOAN SHOW LOWER
AMOUNT IS SOUGHT
Secretary Glass Fixes Sum
Of S4,50O,OOO,OOO as
Goal.
NOTES TO MATURE WITHIN
NEXT FOUR YEARS OR LESS
Drive Starting April FL to Be
Last Popular Subscription
Campaign.
PUBLIC TO RESPOND QUICK
Chief of Treasury Asks American
People to Show Their Pa
triotism to World.
NOTES TO MATURE WITHIN
NEXT FOUR YEARS OR LESS
PUBLIC TO RESPOND QUICK
! By Associated Press. |

tBy Associated Prcss.l
WASHINGTON, April I3.-Terms OF
the Victory Liberty loan were an
nourced today by Secretary Glass.
They arc
smoun,, $500, 100000 oversubscrip-
tonh to be rejected
interest. "a per cent for partially
t.% exempt notes. convertible into
3-i per cent notes wholly tax cx-
empt
Matur!,I. tour years. with tho Treas.
nry rescrvins the privilege OF redeem
ing the notes in three years
The . 3-i per cent note 20 be issued
ia:er slso may be converted subse
Gu.ntiy back into "a per cent notes.
be eScmr e from Sfate IFes sHd i6ea, are isx 40
ton excepting estate and inheritance
taxes and from normal rates OF Fed
Securities arc eSeinpi ';f from ali Psr Fedefa! esn.
state and local taxes, except estate and
inheritance taxes.
Smaller Than Expected.
smaller than had been anticipated by
most financial observers, who looked
Tor, Tor an. an ;ssue OF about ssogo 600.
l;ass past statements ,ha, The loan
"o1ld be hye or six billions.
VIII be other issues OF government;
SECURITIES. 10 finance bclated rur cX-
lenses. Anthe VIII not DC hoatcd by
Ssne OF ,hc pa;; issues OF Liberty
YY'ifs; and a., thsrG are no spee!Re pro.
issue serving directly TO maintain
market prices OF past issues.
campaign already has begun act!yely,
withou, formal acceptance OF sub
fsa sfn'Fs s tgssS SSa s opsn hs
ing daIc is Apr. II, one week trom
teinoI row. The, drive mili continue
three wecns uuitl May 10
Giuss Wakes Statement.
In hx.nE The terms OF the issue
said Secretary Glass Innounccmen; o;
tic Victory loan, ":hc Treasury has
GUIDED 1TEeX eg E thf dsSre no, e i
country in the iirsi Instance. hut the
narHct Tor the notes after ;he cam
ihe ;~e series, ana should nor aneei
ing bonds OF tho Liberty loans.
This will be the last Liberty loan.
shopgn as ed thH rena,nrS Mar Sis
! be cone, ] Gnticipate that the require
nents OF the government In excess Of
car. in view of the decreasing scale
ot expenditure. be readily financed by
The issue OF Treasury certificates from
time TO time as heretofore. which may
DC ultimately refunded by the issue
: of notes or bonds without the aid
Of another great popular CAMPAIGN
1 loans.
Sure Of Quick Rcsponse
lea viii subscribe TO ,his Victory loan
they have shown in the past. to the cnd
tina, the notes may be widely dis
/ iributcd as possible, and ;hat our
tankins insiitu,ions may be le:t free
10 supply the credit necessary for the
purpose of industry and commerc=
and the full employment OF labor. i.e;
America. out OF their boundless re-
sources and with the same enthusiasm
aud devotion to country with which
rous conclusion, are determined TO
Terms Of the loan were expia ined as
The Victory Liberty loan, which
will be offered for popular subscrip-
lion on APRIL -: Vii s take ,.al the form OF
irle gold notes Of ;he United States.
exempt from state and local taxes, ex,,
! from normal Federal income taxes.
II the notes viii be convertible at the
option Of The holder 'h@roughoui @ thei:.
eonvertibie gold notes Of The United
states, exempt from all Federal, state
and local taxes. except estate and in
into the AZ per cent notes.
Allotment Is Smaller.
Tho amount of the issue will be
"a 800. 600, 900. which, with the deferred
tnSes payable. in respect to last years
ncome and profits. during the period
covered by the maturity dates of Treas.
outstanding. will fully provide for the
ISSUE will be limited to s4,5ooooo,oOt
except as it may be. necessary to in
ci,itate allotment. Oversubscriptions
will be rejected and allotments made
on a graduated scale similar in its
! nection with tn first Liberty loan. AL
4 lotment will be made in full on sub
scriptions up to and including $4,000.
1.-The, notes of both series will bs
dated and bear interest from May 90,
1919, and will mature on May 20. 1923.
INTEREST," will be payable on December
on juno 10 and December 15. and a,
maturity All or any of the notes may
be redeemed before maturity at the
or or December Is. 1922. at par and ac-
cruod interest"
The Interest rate of 4 ga per. cent
the ssnes nseF DK sny Of haRe Re
urssd uify CLASS md recently H1' that saerS he
Regarded such rate "a, as excessive. exec and
sas rav"lHod Is about W ia 0 per sssea cent?
The s 5-i per cent rate Of the tax
exempt pstonwertible n9aeS n'0 tne ner ssas
higher than the tax exempt first Lib
erty bonds which mature in thirty
Accept No Oyersubscriptions.
Secretary Glass has announced re-
loan would be such that II might be
regarded more ON commercial basis