The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-21

Time Of Closing Application Books.
Applications accompanied by pay
ments as aforesaid must reach the
Treasury Department or a Federal Re
serve bank, or one Of said branches or
some Incorporated bank or trust COM
pany within the United States (not In
GLIDING outlying territories ana poses
sions) not later than the close OF
business on May 10. 1919. Applications
received by any Incorporated bank or
trust company on or before May 10.
1919, must, by such bank or trust COM
pany, be transmitted to or covered by
its own subscription to the Federal Re
serve Bank OF the district In which 1t
is located, reaching such Federal Re
serve Bank not later than the close OF
business on May 20, 1919, accompanied
by payment as aforesaid. The right Is
reserved by the Secretary OF the Treas
ury to close tho subscription on any
earlier date. to reject any applications
and to waive delay in making ap4lica-
ton and payment.
Allotment.
Applications from any one subscriber
for an aggregate amount Of notes not In
excess of $4,000 will be allotted in full
for an aggregate amount OF
notes In excess Of $4,000 will be re-
ceived subject to allotment. The issue
will be limited to $4,000. 900, except
as 1t may be necessary to increase the
amount Of the issue in order to make al
lotment in full on applications from sub
scribers for aggregate amounts OF notes
not In excess Of $4,000, and except as
1t may be necessary to increase or de-
crease the amount of the issue IN order
to facilitate allotment, and the Secretary
OF the Treasury reserves the right to re-
ject any application for an aggregate
amount of notes in excess of $4,000 to
mako allotment OF part of the amount OF
notes applied for to make allotment In
full upon applications for smaller
amounts and to make reduced allotments
upon or to reject applications for larger
amounts and to make classified allot-
ments and allotments upon n graduated
scale; and his action in these respects
will be Anal The Secretary Of the
Treasury cannot undertake to collate
applications with view to the precise
asoertainment OF the aggregate amount
Of notes applied for by each subscriber.
and while reserving the right to reject
any application or to reduce the amount
Of notes applied for in any case where
1t appears that the aggregate amount Of
notes applied for by any one subscriber
Is not truly shown on the face OF any
one application the allotment may be
based upon the several applications and
reports filed with the several Federal
reserve banks and the Treasury Depart
ment and without collation. within or as
between the said banks and the Treasury
Department; and his action In these re-
spects shall be final Allotments will be
made before June 8. 1919, and the basis
OF allotment will be publicly announced
Notices OF allotment will be mailed
promptly thereafter by the several Fed
eral reserve banks.
Terms of Payment.
Payment for notes allotted in add.
cation must be paid so as to reach a
Federal Reserve Bank or branch
thereof as follows: Ten per cent. or
July Is, 20 per cent. on August u, 20
per cent. on September g. 90 per cent or
October and 20 per cent on November
IL, 1919. with accrued interest from
May 20, 1919. on the Ave deferred in.
stalments.
Receipt OF instalnent payments made
to official agencies prior to payment
In full will be ackncw isuseu by the
several Federal Reserve banks Pay,
ments must be made when and a hereir
provided under penalty OF forfeiture OF
any and all instruments previously
paid and Of all right and interest ir
the notes allotted. Payment for note,
allotted may be sooner completed. but
only so as to reach Federal Reserve
Bank or branch thereof on Nay 20
1919. or with accrued interest from
or instalments having been duly paid)
on July 10, August IL, September 9, Of
October :. 1919.
Payment for notes allotted to sub
scribers for aggregate amounts Of note
IN excess OF $4,000 cannot be completed
on May 90, but may be completed will
| accrued interest from May 90, 1918
after public announcement of tine basi
of allotment on a date or dates not ear
lier than June nor later than June ! !
1919, named in the announcement OF al
| lotments or on any later instalmen
date. Upon applications for aggregat
amounts OF notes In excess OF 900
| no payment other than the 10 per cen,
required will be received with the ap
| pliCation. and in case OF partial allot
ments upon such applications the exces
OF tho 10 per cent payment will be ap
piled upon the next instalment or in
| stalments and no accrued interest wi
| be charged on that part of any instal
ment covered by the amount so applied
and in cast OF the allotment Of less tha
10 per cent. OF the amount applied 70
the balance OF the 10 per cent mad
with the application will be returned n
promptly as possible without interest
In case OF the rejection of any applica
ton the 10 per cent. payment made wit
| the application will be returned a
promptly as possible without interest
Payment in Treasury Certificate
Payment OF % the first instalment G
! 10 per cent. upon application or q
| completion Of payment upon applicatio
| or on May 20, 1919. when and as pei
mitted hereunder or CD completion ,
| payment on the date or dates not Garlic
than June nor later than June l.
| 1919, named in the announcement of a
lotments when and as permitted her,
| under may be made In Treasury certif
Gates OF indebtedness of series V of an
issue not previously matured. Paymer
on July Is, 1919. and subsequent insta
| ment dates may be made in TreasuT
certificates OF the issues IL any maturin
or called for redemption on the said IL
stalment dates respectively. Treasur
| certificates will he received at their ia.
value The accrued interest on Treasur
certificates (Which in the case OF pa,
ment OF the first instalment or paymel
in full when and as permitted hereunde
on or before May 20, 1919. will be con
puted to May 20. 1919. or earlier m;
turity) will be paid to the subscribe
Treasury certificates thus presente
must not BIO Of larger face value tina
the amount then to be paid on the SUI
scription and subscribers should obtat