Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1919-04-24
QUOTA DAY FOR
VICTORY LIBERTY LOAN
Subscriptions in Burlington Lack
100000 Of the Total Allot-
ment of 1,214,0OO--COmmit-
tee Looking for More of the
$50 and 500 Purchases

Many other cities and towns in the
State have reached their quota in the
Victory Loan, but not Burlington
To-day has been officially designated
as Quota Day" That means that before
sunset the city's quota of s., 24O,OOO must
be raised and Of that amount approx
mately $2O0.0O0 is lacking. The committee
requests that all who have not bought
their bonds and who intend to, do so to-
day without fail.
The reputation of the city, which has
been an enviable one so far as Liberty
Loans Y NJ c. A., Salvation Army.
knights of Columbus and United War
Work campaigns have been concerned.
is at stake. Buringtonians cannot afford
to fall down on what is probably the final
Liberty Loan
Bonds of the $50 and 500 denominations
have not sold readily in this ISSUE accord
Ing to reports from the local banks, as
given out by the loan committee last
night. This shows a great dearth of the
small subscriptions from wage-earners
which were prevalent in the preceding
loans.
The committee wish to make it plain
that this bond issue is not an exclusive
one. and that the government and the
to secure subscribers to the $50 and 500
bonds.
If the majority of the bonds sold have
been of large denominations they must
have been purchased by persons with bet
ter financial means than the average cti-
zen. If the better situated citizens Gag
erly seek these bonds, by far the best
government has put out, the small wage
Garner ought to learn lesson from this
| fact and get in with his or her subscrip-
| ton while the going Is good. Any bank
will be very willing to explain how these
bonds can be taken on cash or on install
ment plan.
! The loan committee will be at it's head
quarters in the Chamber of Commerce
rooms in Stannard Memorial hall every
evening after seven O'Clock until further
notice aand anyone who has not the time
TO visit a bank during the day can leave
a subscription there.
There are many advantages and priv
leges accorded to the purchasers of these
bonds. The first advantage is that they
are for the short term of four years. This
| in itself has proved to be a boon to the
| floating of the loan as a wage-earner
could afford to hold the bonds for that
period and thus get the face value and
| ulNlueHu5 at the expiration OI tndt peTlOu
make them highly desirable as securities
The tax exemptions of these bonds also
| The 4 "a notes are free from the normal
income taxes and are also free from all
other federal. State or local taxes except
(a) estate or inheritance taxes and b)
United States surfaces. excess profits
and war profits taxes. The 3 IA per
cent. notes are free from all federal, State
| or local taxes exceDt estate or inheritance
| taxes.
| The interest received after January 1
1919 an an amount of bonds of the first Lib.
erty Loan converted, dated November Is
1917. May 9. 1915 or October "a. 1918, the
second Liberty Loan, converted and un
converted, the third Liberty Loan ant
the fourth Liberty Loan, the principal OF
which does not exceed s20, 900 in the aggre
gate. owned by any individual. partner
ship. association, or corporation, shall be-
exempt from graduated additional income
taxes, commonly known as surtaxes anC
excess profits and war-profts taxes. now
or hereafter imposed by the United States
provided. however, that no owner of sucf
bonds shall be entitled to such exemption
in respect to the interest on an aggregate
principal amount of such bonds exceednt
three times the principal amount of note.
Of the Victory Loan originally subscribed
for by such owner and still owned by hin
at the date of his tax return.