The mirror. (Stillwater, Minn.) 1894-1925, 1922-06-15
TREASURY NOTES

Reserve Banks, in exchange for 4N per
cent Victory notes. limited amount of
Treasury notes of Series B-1925, of an
issue of gold notes of the United States
authorized by the act of Congress APP
proved Sept. "a, 1917, as amended. The
notes will be dated and bear interest from
June IS, 1922, will be payable Dec. IS,
1925, and will bear interest at the rate of
four and three-eighths per cent per annum
payable semiannually on Dec. IS and June
IS in each year.
Applications will be received at the
Federal Reserve Banks.
Bearer notes with interest coupons at
tached will be issued in denominations of
$500, $500, $1,000, $4,000, $4,000, and
100000. The notes are not subject to
call for redemption before maturity, and
will not be issued in registered form.
The principal and interest of the notes
will be payable in United States gold coin
of the present standard of value.
The notes of said series shall be exempt,
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 taxing authority, except (a) estate
or inheritance taxes, and (b) graduated
additional income taxes, commonly known
as surtaxes, and excess-profts and war
profits taxes, now or hereafter imposed by
the United States, upon the income or
profits of individuals, partnerships, asso-
Citations, or corporations.
Notes of this series will be accepted at
par with an adjustment of accrued in
terest during such time and under such
rules and regulations as shall be prescribed
or approved by the Secretary of the Treas
ury, in payment of income and profits taxes
payable at or within six months before the
maturity of the notes. Any of the notes
which have been owned by any person
continuously for at least six months prior
to the date of~his death, and which upon
such date constitute part of his estate,
shall, under rules and regulations pre-
scribed or approved by the Secretary of
the Treasury, be receivable by the United
States at par and accrued interest in pay
ment of any estate or inheritance taxes
imposed by the United States, under or by
virtue of any present or future law upon
such estate or the inheritance thereof. The
notes of this series will be acceptable to
secure deposits of public moneys, but do
not bear the circulation privilege.
The right is reserved to reject any sub
scription and to allot less than the amount
of notes applied for and to close the sub
scriptions at any time without notice. Pay
ment for notes allotted must be made ON
or before June, IS, 1922, or on later allot-
ment, in Victory notes of the 4M per cent
series, which will be accepted at the Fed
eral Reserve Banks at par without adj
justments of accrued interest, as of June
IS, 1922. Victory notes in coupon form
must have interest coupons attached ma
turing Dec. IS, 1922, and May 20, 1928,
but interest coupons maturing June IS,
1922, must be detached and collected in
ordinary course when due. Victory notes
in registered form must be duly assigned
to the Secretary of the Treasury for re-
demption, in accordance with the general
regulations of the Treasury Department
governing assignments. After allotment
and upon payment Federal Reserve Banks
may issue interim receipts pending delivery
of the definite notes. Payment for the
notes now offered can not be made in
cash or by credit, nor will Treasury certi-
ficates of Indebtedness of any series be
accepted in payment.
A. w. MELLON,
Secy. of the Treasury.
Any of our inmates owning Victory
Notes can make exchange by notifying
<ba:r oHcar.