The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1919-04-14

WASillNGTON. April l3.--Tcrms
" the Victory Liberty loan were an 4.
nounced today by Secretary Gias
rhey are
Amount. $4,000, ,OOO, 900; over.
subscriptions 10 ipc rcjcCtHi.
ln'crt-t a-t pcr cent for par-
TALLY tax exempt notes, COnycrti-
bic into 3 A. per cent nytcs
wholly taN exempt.
Maturity four years with the
tr'nSury rc~rNing the priSils,gc Of
rcds'eminx the notes inNhrcc years.
. The J "a per cent notes To be
issued later also may he converted
subsequently back into 3rtper cent
notes.
The "a per cent SECURITIES are
10 be exempt from state and local
taralon excepting estate and in
| heIltance taxes and from normal
rates or federal income taxes. The
, 81 Gper cent securities are ex.
empt from all federal. state and To-
cal taxes except state and Inherit
ance taxes.
The size OF the loan was much
smaller than had been anticipated
Nv most financial observers. who
looked for an Issue or about $1,000
100000, particularly in view OF Sec.
rcbtrN Glass \ past statement that
The loan would bc 5000 600. 900 or
f6, 600 900. 900, This will he the last
Liberty losn, Secretary class ex-
planned, although there viii he other
iHalcs OF government securities TO n.
nance bclutcd war expenses These
viii not be floated by popular cam
paigns
None OF the past iR,ues Of Liberty
bonds are convertible into Victory
loan notes and there are no specific
proviSions IN the terms OF the Vic
tory issne serving directly TO main
tain market prices OF past issues
In many communities the selling
campaign already has begun active
ly, wHhpu, formal acceptance Of sub
"crlptiohs said reports today 10 the
treasury, although the official open
Ing date IL April q, one week from
tomorrow The drive will continue
three weeks until May 10.
In fixing the terms OF the issue :"
aid Secretary Glasss announcement.
the treasury has been guided large
ly by the desire 10 devlBe u security
which viii not only prove attractive
to the people Of the country. but
the terms of which should insure u
good market for the notes after the
campaign " over and Identical prices
for the two srries ana should not
affect iuluriously the market for tho
existing bonds Of the Liberty loans
This. the Last I0nn.
This viii bc the last Ilhe rtN lon n
Although as the remaining was hItp
are presented further borrowing
must hc done. | anticipate that the
requirements OF M government. In
excess ~ the amount NJ taxes and
other Income cin iu view of The de
nrrhsug scnlr ~ expenditure h"
readily FINANCED by lnr igsuc Of
treasury certificates from time 90
time iH heretofore which may be
ultimately refunded by the Issue Of
notes ur bonds without tho aid or
another great popular campaign such
lH characterized the Liberty loans
u ana sure that tho people OF
America viii Iuhsrribc In the same
spirit of patriotism which they have
shown In the past io The end that The
notes ma, bD tH widely distributed
lH pufublo. and that uur banking lu-
atiu'uu4 mas h" left free 10 supply
the credit necessary tor the purpose
OF Industry and uumWcru, and the
fun rupIuNwoui ~ labor let the
world sec ma, 'ho patriots OF Amer
.rl ont " ,LIcir h0undlogs ,IcSJurH
ana with ~, same. r0thusiasm and
devotion fp country with which they
prosecuted No, war iO victorious
conclusion are determined go finish
me iun
Provisions for Retirement
Terms ~ the loan are ns follows.