The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1920-03-10
TRADE CERTIFICATES
FOR LIBERTY BONDS
Holders May Arrange to Make
Exchange Through Their Own
Banking Institutions -Ex-
change is Made Through
New York Bank

The Federal Reserve Bank mas
made arrangements to exchange per-
manent bonds of the several Liberty
and Victory issues for the temporary
certificates which were given to the
subscribers at the time o! the fota-
tions. So that there may be no con-
fusion or misunderstanding as 70
the dates on which these exchanges
will be made, the Reserve Bank yes
terday issued the following state
ment:
Holders Of more than 10OO,-
100000 in Third Liberty Loan bonds
will begin on March Is to exchange
or their present temporary bonds in
to permanent bonds containing all the
coupons to maturity. The exchange
in this Federal Reserve district Will
be under the direction of the Fed
eral Reserve Bank of New York, but
in most cases the various banking in
stitutions will arrange with the Fed
eral Reserve Bank to secure the per-
manent bonds in sufficient quantities
TO make the exchange for their Gus
toners.
"Inasmuch as there were more
than three million original subscrlp-
ers to the Third Loan in this dis
trict, and a large quantity of bonds
issued in the other districts Will
undoubtedly be exchanged through
the Federal Reserve Bank OF Ne"
York. the task of issuing the bonds
will be large. Holders Of sou ana
500 bonds may make their eA-
changes at the office of the Liberty
Loan Association, 10 West FORTY
fourth Street, New York, while the
great volume Of exchanges will De
simplified for the other bondholders'
since they will be able to secure the
new bonds through their own BANK
or trust company without going 10
the Federal Reserve Bank.
"It is expected that bonds or the
first and second loans, both per
cent and IA per cent. issues. Will
he exchanged for permanent oonos
after April 1. In the cases "neie
tbese bonds will have coupons at
tached, holders should detach the,
connons and hold them until ma
turity, when they can be caSneu
in the usual manner. Holders Oh tn0
d per cent bonds will receive IN re-
turn IA per cent bonds OF tne
came loan, with all coupons attacn
cd unless in making the exchanse
thev specifically ask for per cent
bonds in return.
"Holders of the temporary ponus
,bo avail themselves Of the assist
ance of their own bankers IN ehee
ing the exchange will present anu
surrender their present ponos ~
these institutions with the coupons
detached. The banks will IN turn
axe the necessary exchanges OF t4
nor cent bonds for permanent oonus.
and will receive the temporary per
cent bonds for conversion anu GA
change into the permanent 4 If per
cont bonds. This service will be un-
dertaken by the various Danklns ~
stitutions for their customers WILL
"The first Liberty Loan IL per
oont bonds and the Victory Loan
"a ner cent bonds were issued py
tho Government in permanent 1orn'
as were the registered bonds OF an
The government war loans, and there
fore none of these bonds neeu oe
offered for exchange. The eate ~.
conversion of the temporary ponos VI
the Fourth Liberty Loan, on WHICH
tho last coupon will not mature untll
October IS, 1920, has not yet peen
announced. Bondholders o1erlns
temporary coupon bonds for exchange
NAV receive, if they desire, perma-
nent bonds in registered form. I
I'm order to effect exchanges as
conveniently and as efficiently as
possible, the Federal Reserve banh
will issue a circular, addressed to all
incorporated banks and trust com.
panies in the district, urging tnenl
to use tie Iorms when nave oeen
prescribed by the Treasury.