Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1921-12-19
Announcement BY the Secretary
OF Tie Treasury
December 10, 1921.


70 all Banks, Trust Companies and
the Public of The Fifth Federal
Reserve District:
"The secretary. Of the treasury,
under the authority of the act APP
proved September %, 1917, as amend
cd, offers for subscription, at par
and accrued interest, through the
Federal Reserve Banks, Treasury
certificates of indebtedness, IN two
series, both dated and bearing IN
terest at the rate of four and one
quarter per cent per annum semi.
annually. and the certificates OF
Series J-2-1922 being payable on
December Is, 1922, with interest at
the rate of four and one-halt per
rent. per annum, payable semi
annually.
Applications will be received at
the Federal Reserve Banks.
"Bearer certificates will be issued
in denominations Of $500. $1,000,
Sc. 900, $1,000 and 100000. The
certificates Of Series TJ-2-1922 will
have one interest coupon attached,
payable June Is, 1922, and the GER
tificates of Series TD-1922 two in
terest coupons attached, payable
June Is, 1922, and December Is,
1922.
Tax Exemption Features.-"The
certificates of said series shall be ex-
empt, both as to principal and interest,
from all taxation now Or hereafter
imposed by the United States, any
state, or any of the possessions of the
United States, or. by any local tax
ing authority, except:
"(a) Estate or inheritance taxes,
and
"(b) Graduated additional income
taxes, commonly 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, partner
ships, associations Or corporations.
"The interest on an amount of
bonds and certificates authorized by
said act, approved September "a,
1917, and amendments, thereto, the
principal of which does not exceed in
the aggregate $4,000, owned by any
individual, partnership, association
or corporation, shall be exempt from
the taxes provided for in clause (b)
above.
The certificates Of these series will
be accepted at par, with an adjust
mcnt of accrued interest during such
time and under such rules and rcgu-
lations as shall be prescribed or ap-
proved, by the secretary Of the treas
ury, in payment of income and profits
taxes payable at the maturity of the
certificates The certificates of these
series DO not bear the circulation
privilege.
"The right is reserved to reject any
Subscription and to alfQt less than
the amount of certificates OF either
or both series applied for and to
close tho. subscriptions rs to either or
both series at any time without
notice.
Time Of acknowledgement at
par and accrued interest for Ger
tificatGs allotted must be made o? or
before December Is, 1921, or on lat,
or allotment. After allotment and
upon payment, Federal Reserve
Banks may issue interim receipts
pending delivery Of the definitive GER
tificates.
Payment by Crcdit.-"Any quail
fled dcpositary will be permitted to
make payment by credit for Ger
tificates allotted to It for itself and
its customers up to any amount for
which 1t shall he qualified in excess Of
existing DEPOSITS, when so notified by
the Federal Reserve Bank of its dis
trict.
Treasury certificates Of indebted
ness Of Series TD-1921, maturing De-
ce,nber Is, 1921 will be accepted at
par, with an adjustment of accrued
in payment for any certifi-