The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-21
GLASS GIVES FULL
DETAILS OF LOAN
Terms Of Sale and Tax Ex-
emptions on Each Series
Announced.
HOW TO GET THE NOTES
Subscribers Urged to Use Own
Banks and Make Payments
Through Them.
HOW TO GET THE NOTES
Specia, Despofch TO TIE suS.

specia, Despafch to THE suS.
WASHINGTON. April 20.-Secretary OF
the Treasury Glass to-day made public
complete details of the terms and condi-
lions of the Victory Loan, with a de-
scription of the bonds and n statement
as to the interest, dates and maturities.
The circular Is In part as follows:
43-4 Per Cent. Series.
The AZ per cent. convertible gold
notes OF 1s22-1923 shall be exempt both
as to principal and interest, from all tax
alton 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. except (a)
estate or inheritance taxes, and (b)
graduate additional income taxes. COM
monty known as surtaxes and excess
profits and war profits taxes now or
hereafter imposed by the United states
upon the income or profits of individuals.
partnerships, associations or corpora
tons. The notes OF said series shall
bear interest at the rate OF Az per cent.
per annum.
81 Per Cent. Series.
The 3% per cent. convertible gold
notes of 1922-1e23 shall be exempt both
as to principal and interest from all tax
alton Except estate or inheritance
taxes) now or hereafter imposed by the
United States. any State or any OF the
possessions OF the United States O: by
any local taxing authority. The notes of
said series shall bear interest at the rate
OF 3& per cent. per annum.
Denomina lions, Both Series.
Bearer notes with interest with cou-
pons attached will be issued in denoni-
nations of $50, 500. $500. $1,000 and
$4,000. Notes registered as to prin-
cipal and as to interest payable after
December 10, 1919, will be issued In
denominations of $50. 800. $500. $1,000.
$4,000. $4,000. $4,000 and 100000.
Such registered notes will have coupons
attached thereto for interest payable
December Is 1919. Provision will be
made for the interchange of notes Of
different denominations and Of coupon
and registered notes and for the trans
fer OF registered notes without charge
bv the United States under rules and
regulations prescribed by the Secretary
of the Treasury.
Date, Maturity and REDEEM ption.
The notes will be dated and bear in
terest from May 20. 1919. and will ma
ture on May 20 1923. Interest will be
payable on December IS, 1919. and
thereafter seml-annually on June 10 and
December 15 and on May 20. 1928 The
principal and interest OF the notes are
payable In United States gold coin OF the
present standard Of value. Notes may
he redeemed at the option of the United
States under such rules and regulations
as the Secretary of the Treasury may
I
1922, in whole or In part. as to either or
both series at par and accrued interest
on four months notice Of redemption
given in such manner as the Secretary
OF the Treasury shall prescribe. In case
Of partial redemption OF either or both
series the notes to be redeemed Will be
demanded by such method as may be
prescribed by the Secretary of the Treas
ury. For convenience in case OF any
partial redemption the notes will be Is
sued in several blocks of approximately
equal face amount and bearing distin'
gushing letters From the date of re
demption designated in any such motto.
Of redemption interest on notes called
for redemption shall cease.
Convention Privilege.
Any holder OF notes of either serie:
shall have the option OF having the notes
held y him converted at par into notes
Of the other series with adjustment 1!
respect to accrued interest hut other
wise without charge by the United States
under such rules and regulations as ma,
be prescribed by the Secretary OF thu
treasury. Such rules and regulation
may provide for the suspension of suct
privilege OF such conversion from tint
20 time in respect to all or any part o.
the notes Of either or both series ta) e
T,,t.- N NJ
deliveries upon the original issue; ID
for a Ieriod not exceeding one montl
before any interest payment date, nnC
.tc) for the period or any portion thereo
from the date OF any notice of redemp
ton (but not more than four month";
and one week prior to the date OF tn
redemption) and including the date o
redemption designated in such notice
In any event on the date of redemp
lion designated in any such notice 0
redemption the privilege Of conversion o
all notes thereby called for redemption
shall cease, and II all the notes of eithe
series be called for redemption the pr!vi
lego OF conversion OF notes OF the othr
series shall cease.
The notes are interconvertible. tn
privilege of conversion extending Il
:,otes issued upon conversion as wei
as notes issued upon original subscr,p
ton. Tho privilege OF conversion con
tinues throughout the life OF the note
subject to the provisions hereof and o
such rules and regulations.
Terms of Application.
Applications must be accompanied b
payment of 10 per cent. of the amour
OF notes applied for. No payment othe
than the 10 per cent. required upon ar
plcation should accompany any applica
ton for an aggregate amount of notes 1
excess of $4,000. Applications for a
aggregate amount OF notes not in exces
OF $4,000 may at the option of the sui
scriber be accompanied by payment l
full al face value without interest 10
the note or notes applied for. Applics
lions must be for notes to an amour
Of $50 or some multiple thereof
The subscriber should indicate on tn
. application blank whether coupon {
registered notes are desired: II no pre-
erence In indicated either coupon mote
or registered notes may he delivere'
All applications will be deemed to be fc
,,otes NJ the "A. per cent series eXceI