The Washington herald., 1922-09-11
ASKS new LOAN
Treasury Department Of
fers Non-T Taxable Certi-
ficates Bearing 3349o.

The Secretary of the Treasury.
under the act approved September
"a. 1917. as amended. offers for sub
scription. at par and accrued inter-
est. through the Federal Reserve
Banks. Treasury certificates OF In
.debtedness. Series Ts-1s2s. dated
and bearing interest from Septem-
ber is. 1922, payable September Is.
1929, with interest at the rate of
az per cent per annum payable
semiannually.
Applications will be received at
the Federal Reserve Banks.
Bearer certificates will be issued
in denominations of $500. $1,000.
$4,000. $4,000. and 100000. The
certificates will have two interest
coupons attached. payable March
is. 1928. and September Is. 1928.
The certificates of said series
shall be exempt, both as to prin-
cipaI and interest, from all taxation
HOW oE hereafter ltnpooCu Dy Nho
United States, any State. or any Of
the possessions of the United
States, or by any local taxing au-
thority, except (a) estate or in
heritance 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. partnerships. asso-
Citations. or corporations. The in
terest on an amount of bonds and
certificates, the principal of which
does not exceed in the aggregate
$4,000. owned by any individual.
partnership. association, or cor
poration. shall be exempt from the
taxes provided for in clause (b)
above.
The certificates of this series will
be accepted at par. with an adjust
ment of accrued interest, during
such time and under such rules and
regulations as shall be prescrib
or approved by the Secretary OF
Treasury.
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-
tions at any time. without notice.
Payment at par and accrued inter-
est for certificates allotted must be
made on or before September Is.
1922, or on later allotment. After
allotment and upon payment, Fed
eral Reserve Banks may issue in
terim receipts pending delivery Of
the certificates. Any qualified de-
positary will be permitted to make
payment by credit. for certificates
allotted to 1t for itself. and It's
customers up to any 1amount for
which IL shall be qualified in excess
of existing deposits, when so noti-
fed by the Federal Reserve Bank or
its district. Treasury certificates
of indebtedness of Series TS-1922
and Series TS2-1922, both matur-
ing September Is. 1922, and Series
D-1922. maturing october 16, 1922.
with any unmatured interest
coupons attached, will be acdepted
at par. with an adjustment OF ac-
crued interest. in payment for any
certificates OF the Series TS-1s23
now offered which shall be sub
scribed for and allotted.
As fiscal agents OF the United
States. Federal Reserve Banks are
authorized and requested to receive
subscriptions, and to make allot-
ments on the basis. and up to the
amounts indicated by the Secretary
Of the Treasury, to the Federal Re-
serve Banks of the respective dis
tricts.
The issue will be for 5000. .0o0. 900.
or thereabouts