Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-07-14
TREASURY OFFERS
NEW CERTIFICATES
Series T-8, Dated July IS,
1919, Are Payable March
4 IS, With Interest.
EXEMPT FROM TAXATION

The Treasury Department announced
today that The Secretary Of the
Treasury. under the authority OF the
act approved September "a. 1917. a
amended. offers for subscription, a,
par and accrued interest, through thu
federal reserve banks, limited
amount of Treasury certificates Of in
debtedness, series rs, dated an1
bearing interest from July Is, 1912
payable March Is. 1920. with interes,
at the rate of Al y per cent per annum
federal reserve banks. Bearer certid.
Gates with one interest coupon attach.
ed will be issued in denominations OF
$500. $1,000. $4,000, $4,000 and $780,.
600"
The certificates will 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. ex-
graduated additional income taxes
and excess profits and war profits
taxes.
The interest on an amount Of bonds
and certificates authorized by the act
the principal of which does not ex-
partnership. association or corpora
ton shall be exempt from surtaxes
excess profits and war profits taxes.
Tomorrow will be busy day for
Washington bankers. due to the fact
that the fourth liberty loan clubs ex-
pire and payments are due on the
victory loan. There will be long lines
OF thrifty patriots in front Of the win
dows Of the liberty loan departments
of the banks.
President Charles ]. Bell Of the
American Security and Trust Com
pany will leave tomorrow on his
summer vacation. which he will spend
at Lake st. Edwards. in the northern
part OF the province of Quebec. He
will be gone Ave or six weeks.
A. H. Beford. assistant cashier Of
the National Metropolitan Bank. is on
vacation. He will pass a month with
his parents. formerly Washington peo-
pie. but now residents OF San Diego,
Cal.
A meeting is being held in New York
today at which efforts will be made
protective committee Of the Washing
ton Utilities Company. These addi-
tional members may be local fnan-
cierS and several Washington bank
ers are in attendance at the meeting.
E. Percival WILSON, secretary of the
National Savings and Trust Company,
is taking his annual vacation. He is
on an automobile trip and will spend
several days at Atlantic City.
The Federal Reserve Bank at
Richmond has sent a letter to Wash
fngton banks announcing the first is
sue of Treasury savings certificates
The issue OF Treasury saving certifi-
Gates is in reality an issue of war
savings certificates. series Of 1919. in
registered form. in denominations Of
800 and $1,000. maturity value. for
the greater convenience Of holders
and purchasers Of war savings and
thrift stamps.
These certificates are not transfer
rable, and are payable only to the own
of death or disability Of the holder
Regulations governing redemption in
such cases will soon be issued by the
Secretary of the Treasury. They are
exempt. both as to principal and in
terest, from all federal. state and local
taxes. surfaces and excess-prodts and
var-proits taxes
Treasury savings certificates in the
denomination of 800. maturity val
ue, may be purchased Of any post
once of the first or second class
denominations of 500 and $1,000
maturity value. may be purchased at
incorporated banks and trust COM
panies which are duly qualified agents
OF the second class for the sale of
war savings certificates. series Of 1919
War savings certificates flled with
twenty war savings stamps, series Of
1919. may be exchanged for Treasury
savings certificates in the denomina-
ton Of 800. and ten such war savings
certificates may be exchanged for
Treasury savings certificates in the
denomination Of $1,000. However. no
war savings stamps except Of the 1919
issue may be used for exchange for
Treasury savings certificates, and only
completely filled war savings certif-
Gates can be used for such exchange.
The Reichsbank of Germany, ac-
eording to reports received in this
country, has set the commercial price
of hne gold at 5000 marks per kilo.
The pre-war price was 2.7s0 marks
per kilo. A financial statisticiAn hg-
ures that this represents either .
rise in the price of gold Of 222h per
cent or a fall in the purchasing price
OF marks Of 50 per cent.
Steel Ingot Production.
Reports to the American Iron and