The New York herald., 1922-10-09
U. S. OFFERS A BOND
ISSUE AT 4-1-4 P. G,


and certificates authorized by said act
approved September "a. 1917 and amend
ments thereto, the principal of which
does not exceed in the aggregate $4,000
owned by any individual, partnership.
association, or corporation shall be ex-
empt from the taxes provided for IN
clause (b) above.
"Any of the bonds which have been
owned by any person continuously Tor
at least six months prior to the date
of his death. and which upon such date
constitute part of the estate. shall, under
rules and regulations prescribed by the
Secretary of the Treasury, be receivable
by the United States at par and accrued
interest in payment OF any estate or in
heritance taxes imposed by the United
States. under or by virtue OF any present
IN future law upon such estate or the
inheritance thereof The bonds will be
acceptable to secure deposits of public
moneys. but do not bear the circulation
privilege and are not entitled to any
privilege OF conversion.
Application, Allotment, Payment.
applications will be received at the
Federal Reserve banks, as fiscal agents
of the United States. Banking institu-
tons generally will handle applications
for subscribers but only the Federal Re-
serve banks are authorized to act as
official agencies.
within the limitation on the amount
of the offering, applications from any
subscriber for an amount of bonds not
exceeding $4,000 will be allotted In full,
and allotments thereon may be made
upon application. Applications for
amounts in excess of $4,000 Will be
received subject to allotment.
1,a irt,f ig In
subscription for an amount in excess
OF $4,000. and to allot less than the
amount OF bonds applied for and to
close the subscriptions at any time with
out notice. The Secretary of the Treas
ury also reserves the right to make allot
ment in full upon applications for
smaller Gmounts. and TO make reduced
allotments upon, or to reject, applica-
tions for larger amounts. and to make
classified ailotments and allotments
upon a graduated scale; and his action
in these respects will be final.
Payment Date October 16.
Payment at par and accrued interest
for any bonds allotted must be made on
or before October 16. 1922. or on later
allotment: provided, however that per-
sons who desire to make payment in
installments may pay so per cent. on
October 49, 1922. or on later allotment.
and the balance on November Is, 1922.
with accrued interest 20 that date on
the deferred installment
Amy qualified depositary will be per-
mtted to make payment BY credit for
bonds allotted to IL for itself and its
customers up 20 any amount for which
it shall be qualified in excess Of exist
ing deposits, when so notified by the
Federal Reserve Bank of it's district,
except upon subscriptions for which Vic
tory notes or Treasury certificates Of in
debtedness of Series It'd or I'D 2-1922
are rendered in payment.
Treasury certificates of Indebtedness
OF Series D-1s22. maturing October 16.
1922, of Series TD-1922 and It'd 2-1922.
both maturing December 10. 1922 (witll
any unmatured coupons attached), and
Victory notes of the Az per cent. series,
whether or not called for redemption.
will be accepted at the Federal Reserve
banks az par. with an adjustment OF
accrued interest, as OF October 16, 1922.
in payment for any Treasury bonds of
1947-52 now offered which shall pe sub
scribed for and allotted.
Victory notes In coupon form must
have all unmatured coupons attached.
and II i'm registered form must be duly
assigned to the Secretary of the Treas
ury for redemption. in accordance with
the general regulations OF the Treasury
Department governing assignments.
Payments must be made when and as
herein provided under penalty of for
feiture of any installment previously
paid and OF all right and interest in,
the bonds allotted.
Reserve Bank Allotment.
CAS- fiscal agents OF the United States.
Federal Reserve banks are authorized
and requested to receive subscriptions
and TO make allotments thereon on the
basis and up to the amounts indicated
by the Secretary OF the Treasury 10 the
Federal Reserve banks of the respective
districts. Allotment notices will be sent
out promptly upon allotment. and the
basis of allotment will be publicly an
nounced.
Bonds will be delivered promptly af-
ter allotment and upon payment. and
coupon bonds may be delivered prior TO
October 16, 1922. TO subscribers for
amounts not in excess OF $4,000 who
make payment in full upon allotment
The Federal Reserve Banks may issue
interim receipts pending delivery OF the
definitve bonds.
Further details may be announced
by the Secretary of tho Treasury from
time TO time. information as 20 which.
as we'll as forms for application, may be
obtained from the Treasury Depart
ment. Division of Loans and Currency
Washington, ID. c., or from any Federal