The herald-advance. (Milbank, S.D.) 1890-1922, 1919-04-18
Victory Liberty Loan
Four and Three Quarters Per Cent
Exempt from State and Local
Taxes, Mature IN -Four Years

taxes, MANURE III fUuT IcdlS
The follow ing telegram was re-
ceived Tuesday morning from A. r.
Rogers, chairman of the ninth dis.
trict liberty loan committee:
Minneapolis, Minn.. Apr sl3. 10.
Herald Advance, Milbank, S. D.
South Dakota has been allotted
two million FIVE hundred thousand
dollars of the Victory Liberty Loan.
The ninth district quota is one hun.
dred fifty seven million five hun.
dred thousand dollars out of total
for the nation of four billion five
hundred million dollars. The rate
of interest is four and three quart.
.ers percent. The unexpected small
amount Of the loan and the high
rate Of interest have brought great
ioy to the liberty loan workers OF
the ninth reserve district who will
begin their campaign on Monday,
April twenty first. AS announced
bv the treasury department the Vic
tory Liberty Loan will take the form
of gold notes maturing IN tour
wears, III ese notes will be exempt
from state and local taxes except
estate and Inheritance taxes and
from normal federal ircome-taxes.
The notes will be convertible at the
option of the holder throughout
their life into three and three quart
ers percent four year notes OF like
maturity and exempt from all fed
eral state and local taxes. The
notes Of both series will be dated
and bear interest from May twen-
tieth nineteen nineteen and will ma
ture on May twentieth nineteen
twenty three. If the loan IS over
subscribed as is probable. only sub
scriptions Of ten thousand dollars
and less will be allotted in full.
The terms Of this issue have been
based upon the desire to devise a
security which will not only prove
attractive to the people but the
terms Of which will insure good
market for the notes and not effect
adversely the market for the exist
ing government securities. Theo-
dore Void governor of the Federal
reserve bank commented as follows:
''The terms Of the Victory Liberty
Loan are 80 extremely favorable the
amount to be raised in this district
is so comparatively small that to
my mind there is absolutely no
doubt but that the loan will be
promptly over-subscribed in the
ninth federal reserve district.
A. z. Rogers chairman Of the
Central Liberty Loan committee ex-
pressd eager satisfaction over the
terms of the loan. The victory
notes are the finest security ever Is
sued by the United States said Mr..
Rogers. People in this district and
all over the United States will take
them because they appreciate their
value as an investment and because
they believe in their government.
The treasury department announce
ment of terms should dispel the last
trace of pessimiam that has been the
cause Of our only tear about the
overwhelming success Of the loan. =
I'VE are delighted with the
terms Of the victory liberty lean %
announced by the SECRETARY Of the,
Treasury and are -&atisfed with.
South Dakota's allotment - decid-
"a upon by the Ninth District Gen.
tral Committee" aid ]. e. Bassett
stite chairman Tor South Dakota.
The terms announced usate the Vic
tory notes most attractive from IN
investment o veil . from o patri-
,otie stand point.
Twenty two million Ave hundred
thousand dollars allotted 70 South
Dakota 10 only our fair daare. The
people Of our state are axtEomely
prospsrous. and have wonderful
prospects owing to the high pre-
vnilin1 prices Of al) our products.
Patriotism 10 still alive and vs will
finish the promptly and satisfactor.
ill.," A. r. Rogers.
The allotment for the county will
be fully Is per cent less than tbe
apportionment for previous loans.
and with the favorable conditions
- - ;n<ornat and faxea there ah0rlld
be no difficulty IN Grant county
meeting its apportionment. and
there is likely to be q demand for
the bonds all over the country.
The county allotment will be
$44O. 900.
Attorney Robt. Jones, who is
handling the work of the secretary
during the illness of A. 4 Bom-
quist, has called meeting Of the
liberty loan county committee for
Friday, April Is, at the St. HUI