The Washington herald., 1922-04-12
FINANCIAL
TREASURY OFFERS
sl5O,OO0,OOO 3D.
CERTIFICATE issue
Dated April Is, Maturing
Next October-Int1
Finance Corp.

SECACNa VI thC LACooeAy
yesterday announced a new issue Of
certificates of Indebtedness dated
April Is. 1922. payable october Is.
1892. bearing interest at the rate Of
az per cent per annum. The iota-
tion is for s15o,o00,0o0 or there
abouts.
Bearer certificates will be issued
in denominations Of $500. $1,000.
5000. $4,000 and 100000. The
certificates will have one interest
coupon attached. payable October
16. 1922 or upon maturity.
The certificates of said series
shall be exempt, both as to prin-
cipal and interest, from all taxa
ton now or hereafter imposed by
the United States, any State. or any
of the possessions of the United
States. or by any local taxing au-
thority. except (a) estate or inheri-
lance taxes, and OBJ graduated ad-
ditional Income taxes. commonly
known as surtaxes. and excess
profits and war-profts taxes, now
or hereafter imposed by the United
States. upon the income or profits
of individuals. partnerships. asso-
Citations. or corporations The in
terest on an amount of bonds and
certificates authorized by said act
approved September "a, 1917. and
amendments thereto. the principal of
gregate $1,000. owned by any indi-
vidual. partnership. association. or
corporation, shall be exempt from
the taxes provided for in clause
OBJ above.
The certificates of this series do
not bear the circulation privilege
and will not be accepted in payment
OF taxes.
The right Is reserved to reject
any subscription and to allot less
than the amount of certificates ap-
piled for and to close the subscrip-
lions at any time without notice.
Payment at par and accrued interest
for certificates allotted must be
made on or before April Is, 1922,
or on later allotment. After allot-
ment and upon payment Federal Re-
serve Banks may issue interim re-
ceipts pending delivery of the de-
fnitive certificates. Any qualified
depositary will be permitted to make
payment by credit for certificates
allotted to il for itself and its Gus
toners up. to any amount for which
u SndAl ne IN VI eN
listing deposits. when - notified
by the Federal Reserve Bank OF
it's district.
International Finance Corp.
\ special meeting OF the stock
holders of the international Finance
Corporation was held yesterday. for
the purpose of passing upon a reso-
lStion Of the board of directors
calling for a reduction in the divi-
dend requirement on the next is
sue of preferred stock. This reso-
luton provided for a requirement OF
8 per cent per annum on the next
issue. instead of per cent which
is the requirement of the first
$1,000. 900 issue. About rs per cent of
the outstanding stock was repre-
scented at the meeting and the
boards resolution was unanimously
adopted
The first 100000 issue of
preferred stock having been fully
subscribed. the corporation will i'm
nnediately offer. through its fiscal
agents. E. l.. Stock and Company,
s25o.000 of s per cent cumulative
preferred stock at par value $50 per
share. together with $500 shares of
common stock in units consisting of
shares of preferred with 1 share
of common at SIS per unit.
The s1.0O0.0O0 issue of 9 per
cent stock which has been sub
scribed will be designated preferred
~" and the per cent issue will be
designated preferred "B." Both
classes of stock will have parity of
right.
Local Securities.
Small volume of trade with prices
practically unchanged again char
acterized trading on the Washing
ton Stock Exchange yesterday. The
transactions included Traction SIS
at 95iz. Gas SIS at 92k and Railway
IS at 50. while a single transaction
in Washington Gas at IS covered
the stock sales.
SALES
Washington Gas IS. 81 900 at sct,. 81. 900
at o2I.. 500 at e2L.
Capital Traction -. $500 at o51s.
Washington Gas Light. 10 at IS.
AFTER CALL
Capital Traction S.. $500 at 95l., $500
st s5Ik.
Washington Ry a. 81 .OOo at 50.
Capital Traction Sc. $1,000 at 9515. 81, OOC
at a5h
Money. call loans. 5 and 6 per cent.