The Washington herald., 1920-01-26
ISSUES
CERTIFICATES
Dated February 2, and Will
Bear Interest Of Az Per
r Cent Per Annum.

Carter Glass. Secretary OF the
Treasury. has issued the following
statement in reference to the issue of
new Treasury certificates TO be Of
fered for subscription:
The Secretary of the Treasury. un-
der the authority of the act approved
September "a, 1917. as amended. offers
for subscription. at par and accrued
interest, through the Federal Reserve
banks. Treasury certificates of in
debtedness. Series M4-l9e0, dated
and bearing interest from February 2.
100, payable March l5. 1920. with in
torest at the rate of 1-2 per cent per
annum. Applications will be received
at the Federal Reserve banks.
eBarer certificates with one interest
coupon attached will be issued in de-
nominations of $500. $1,000, s. .0OO. So =
900 and $4,000
Said certificates shall be exempt
both as to principal and interest. from
all taxation now or hereafter inn
posed by the United States, any
State. or any of the possessions
OF the United States, or by az local
taxing authority, except (a) estate or
Inheritance taxes, and tb) graduated
additional income taxes. commonly
known as surtaXes. and excess-profits
and war profits taxes, now or here
after imposed by the United States.
upon the income or profits OF indi-
viduals, partnerships. associations or
corporations. The interest on an
amount of bonds and certificates au
thorized by said act approved Septen-
Der q. 1917. and amendments thereto.
the principal of which does not ex-
coed in the aggregate 5000, owned by
any individual. partnership. associa-
ton, or corporation. shall be exempt
from tho taxes provided for in clause
Oh above.
Certificates of this series will be
accepted at par. with an adjustment
of accrued interest. during such time
and under such rules and regulations
as shall be prescribed or approved
by the Secretary of the Treasury. in
payment Of income and profits taxes
payable at the, ma turity of the certi-
ficates. The certificates of this Sc
ries do not bear the circulation privi-
lege.
The right is reserved to reject any
subscription and TO allot less than
the amount OF certificates applied for
and to close the subscriptions at any
time without notice. Payment at par
and accrued interest for certificates
allotted must be made on or before
February .. 1920. or on later allotment.
After allotment and upon payment
Federal Reserve banks may issue in
terim receipts pending delivery of the
definitive certificates. Any qualified
depository will be permitted to make
payment by credit for certificates al
lotted to it for itself and its custom
mers up to any amount for which it
shall be qualified in excess of exist
ing deposits. when SO notified by the
Federal Reserve Bank OF its district.
Treasury certificates OF Indebtedness
of Series C 1920. maturing February ..
1920; Series D 1920. maturing February
l6, 1920. and Series TO. maturing
March Is, 1920 with any unmatured
coupons attached, will be accepted
at par with an adjustment of accrued
interest in payment for any certifi-
Gates of the Series TM4-19a0, now Of
fered which shall be subscribed for
and allotted.
As fiscal agents Of the United
States. Federal Reserve banks are
authorized and requested to receive
subscriptions and to make allotment
in full in the order of the receipt of
applications up to amounts indicated
by the Secretary Of the Treasury to
the Federal Reserve banks of the
respective districts"