Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-03-07
BANK LOAN PROVISION OF
COMPROMISE BONUS BILL



"tA). Tint "A loan may be made
to any veteran prior To september
80. 1925. upon his adjusted service
certificate only In accordance with
the provisions Of this section.
"tB). Any national bank or any
bang or trust company incorporat-
ed under the laws of any State.
territory. possession or District
OF Columbia hereinafter I'm this
section called 'bank). Is authoriz-
ed TO loan to any veteran upon his
promissory note, secured by his
adjusted service certificate. with
or without the consent OF the bcnc-
flciary thereoO any amount not
In excess OF 80 per centum OF its
loan basis, such loan To mature
on or before September 80. 1925.
The rate of interest charged upon
tho loan by the bank shall not ex-
coed by more than two per centum
per annum the rate charged Mt
the date of the loan for the dis
count OF commercial paper under
section 13 OF tho Federal Reserve
act by the Federal Reserve Bank
for the Federal Reserve District in
which the bank is located.
"(C). If the veteran does not
pay tho principal and interest OF
the loan within six months after
it's maturity, or I'm any event by
September 30. 1925. the bank shall
present the certificate and the note
TO the Secretary Of the Treasury.
not earlier than May 10, 1925. and
not later than October 10, 1925.
Tho secretary shall thereupou can
eel the note and the certificate
and pay To the bank the amount of
the unpaid principal due II. and
the unpaid interest accrued. Mt the
rate fixed by the note. up 10 the
date OF the check issued TO the
bank.
The difference between so per
centum Of the loan basis of the
certificate, at the time OF it's re-
ccipt by the secretary. and tho
amount so paid by tho bank. shall
be Immediately paid by. the secre-
tary TO tho veteran II living In
case Of the veterans death after
the expiration of the ak months
after the maturity OF the loan or
I'm the case of his death after Sep
temher so, 1925. such difference
shall be paid 10 the beneficiary
under the certificate, except that
II such beneficiary dies before tho
veteran. and no new beneficiary IL
named. or II the beneficiary I'm the
first instance has not yet been
named, then the payment shall be
made 10 the estate OF tho veteran.
"(Dl. II the veteran dies before
the principal Ia due. the amount of
the unpaid principal and the un-
paid interest. accrued UP 10 the
date Of his death. shall he imme-
diately duo and payable. In such
CAGE. or IL the veteran dies after
the principal la due. but before the
expiration OF the six months after
the principal is due. or before oc-
tober !, 1925. the bank shall on no.
tlce OF death present the certificate
and note 20 the secretary who shall
thereupon cancel the note and pay
10 the bank In fun satisfaction ol
It's claim the amount OF the unpnit
principal and interest at the rat,
fixed I'm tho note. accrued up 10 IN,
date OF the check issued TO TIL,
bank. except that if prior 10 tn,
payment the hank IL notified OF tn,
death by the secretary OF tn,
treasury and fails TO present tn,
certificate and note TO the secre
tary within Is days after notice
such interest shall be only up I,
the fifteenth day after such notice
The secretary shall deduct tn
amount so paid from the face val
ne (as determined under section
SOD OF the certificate.
"(E). When any loan Is In de
fault. the bank shall within thirt,
days thereafter notify the secre