New Britain Herald Newspaper, April 14, 1919, Page 9

NEW BRITAIN DAILY, HERALD, MONDAY, APRIL 14, 1910 *VICTORY LOAN TERMS ANNOUNGED; St i e g sr” lotments made on a graduated sc: AMOUNT FOUR AND A HALF BILLIONS; st s, v to o Liberty loan. Allotment will be mado INTEREST RATE IS 43-4 PER CENT.|Rin Rt = i “The notes of both series will be dated and bear interest from May 20, 1919, and will mature on May 20, 1923. Interest will be payable on De- FACTS ABOUT THE 5TH (VICTORY) LIBERTY LOAN. cember 15, 1919, and thereafter semi- eI annually on June 15 and December 15, Amount, $4,500,000,000. and at maturity. All or any of tho | Inter 4 3-4 per cent on notes, partially tax exempt, con- notes may be redeemed before matur- | vertible into 3 3-4 per cent motes., wholly tax exempt ity at the option of the United States Interest payable on Decem ber 15 and (hereafter semi-annually on Jun:. 15 or ;)ecembor 1922, at on June 15 and December 15. pafjandiacersiad iinforent i J\lnv\xrv(\ Sour years, the (reasurs rescrving the privilege of Five Per Cent. Regarded As Excessive T s e B e © The interest rate of 4 3-4 per cent. | Oversubscription to be rejected, bui allotment in full will be Is the highest borne by any of the | | e e e D100 war issues. Financial intcrests have | National campaign will begin April 21 and will end May 10. urged 2 5 per cent. rate, but Secretary | Glass indicated recentiy that he re- | —— e e garded such a rate as excessive. and s speculation as to the rate recently has 5 . has been guided largely by the de-|revolved about 4 1-2 per cent. The NOTES WILL RUN [ siro to devise a security which WIll | 334 per cent. rate of the tax exempt E not only prove attractive to the peovle | potes, into which the 4 3-4's are con- FOR FOUR YEARS ¢of the country in the first instance, |vertible, is « quarter per cent. higher but the terms of which should insure | (han the tax-oxempt first ILiberty senE | a good market for the notes after | honds, which mature in 30 years. the campaign is over and should not affect injuriously the market for the Issues Not Convertable 27¢cr mirion: : et for the | eatedly that the terms of the Victory L existing bonds of the Liberly loans. ljoq)"woulg be -such that it might be- | Will Be Last Liberty Loan. \f 3 i isi 5 ; 4 regarded more on a commercial basis 4 —No Specific Provisions This will be the last Liberty loan. | (82F20C FLOME 08 & COrE o nes, Ly o 1 o Ak Although as the remaining war bills | p t0 PR B8TER L et the | 8 / A, N . S \7 5 to Maintain Market on Old are presentea further porrowing must] J 00T R0 B8 LU peaple | . ' ’ 2 (/) : X {be done, T amicipate that the re-| .5 he relied on to make the loan a { ¥ ; g Z Bonds | auirements of the government, in ex- | oo 0 S T8 B T & cess of the amount of taxes and oth TRol comineiloantis the ouly ¥ losn e e Srg UIcome n, in view of the do- since the first an which oversubscrip- of the \'i('\n]v ¥ loan, “the treasury §{ions have not been accepted in whole J IS Q7 ! creasing scale of expenditur he lor in part. @ ared \vith the $6,- T o ury certificates from time to time 25 | fourth loan, the ageresate ot the Vic THAN WAS EXPECTED | il.iorore whicn Sl e R S TR S ;i refunded by the issue of mnotes Or (0o less. bonds without the aid of another Already $5,355,000,000 certificates ington, April 14.—Terms of great popular campaign such as Nas | .y, gaptodness have been fssucd, In- v Liberty loan w an- characterized the Liberty loans. ¢ | cluding the current issue, in anticipa- sed yesterday by Sec. Glass. They “I am sure that the peoble Of }4on Top the Victory Laberty loan, but | are: Amount, $4,500,000,000, over- | America will subscribe to this ‘,.":‘D_‘-‘ $600,000,000 of these have been called | subscriptions to be rejected. Interest | 1080 In the same spirit of patriotsh |y for immediate redemption. There | § 3-4 per cent for partially tax exempt [ Which they have shown in the Past '9 {will remain outstanding $200.000,000 | notes convertible into 3 3-4 per cent | the end that the notes mav be 4% |more certificates than proceeds of the notes wholly tax exempt. Maturity, | Widely distributed as possible, ;L:‘ Victory loan, to be met by tax res four years with the treusury reserv- | that our banking institutions may be | cejpts from proceeds from further is- ing the privilege of redeeming the | 16fL free to supply the credit }10('\51 sues of ceruficates. For some time notes in three vears. sary for the purpose of industry and {ipg trensury had contemplated terms The 3 3-4 per cent notes, to be is- | commerce and the full empm.‘melnt for the Victory loan which would huve | sued later, also may be converted | Of labor. Let the world see that the |, girect influence in keeping up tne subsequently back into 4 3-4 per cent | Patriots of Amer out of their lyarket price of past fssues, but ap- notes. The 4 8-1 per cent sccurities | Poundless resources and ~ with —the | ,arently these plans were abandoned. are to be exempt from state and local | S#Me enthusiasm and —devoton 1o} Comparison With Previous Issues, taxation, excepting estate and inheri- | COUNtry with which they prosecuted | morms of the Victory lasue may he tance taxes and from normal rates of | te War to a victorious conclusion ar¢ |compared with the following terms federal income taxes. The 3 3-4 per | determined to finish the job. of past lssues: cent securities are exempt from all Official Terms of Toan. First loan, $2,000,000,000, 3 1-2 per federal, statc and local taxes except| Terms of the loan were explained |cent. tav exempt, maturity 80 years. estate and inheritance taxes. as follows: Second loan, $3,000,000,000 offered, Past Issues Not Convertible. The Victory Liberty Toan, which {54,617,000,000 subscribed; $3,808,- None of the past lssues of Liberty | will be offered for popular subscrip- {000,000 accepted, 4 per cent., partial- Bonds are convertible into Victo tion on April 21, will take the form |]y tax exempt, maturity 25 years. Joan notes and there are no spe of 4 3-4 per cent threc-four year | Third loan, $8,000,000,000 offered, provisions in the terms of the Victory | convertible gold notes of the United |$4176,000,00 subscribed and accept- issue serving directly to maintain | States, exempt from state and local|ed, 4 1-4 per cent., partially tax ex- market prices of past issues. The size | taxes, except estate and inheritance | empt, maturity, 10 years. of the loan was much smaller than | taxes, and from normal federal in-| Fourth loan, $6,000,000,000 offered. : nad been anticipated by most finan- | come {axes. The notes will be con- |$8,993,000,000 subscribed and accept- > AR ) clal observers, who looked for an ls- | vertible at the option of the holder. |ed, 4 1-¢ per cent., partially tax ex. | 1.4 lg»a sue of about $6,000,000,000, particu- | throughout their life into 3 3-1 per |empt, with special conditional exsmp- larly in: view of Secretary Glass' past | cent three-four year convertible gold | tians for past issues, maturity 20 statements that the loan would be five | notes of the United States, exempt |yoars, or six billions. | from all federal, state and local taxes. |* War savings stamps bear the equiv- This will be the last Liberty loan, | In like manner the 8 3-1 per cent|alent of 4 per cent. interest, and ma- Secretary Glass explained, although | notes will be conv tible into the | ture in five years. there will be other issues of govern- | 1 -4 per cent I‘DI(QFI. . i ment securities to finance belated war | ‘““The amount of the issue will be ‘f ; Z expenses. These will not be floated by $4,500,000,000, which, with the de- § /\ TURK_IEH popular campaigns. In many com- ferred instalments of income and CIGARET munities the selling campaign already Profits taxes |m_\nvlfle \nrzs‘fls]"ct to last has begun actively, without formal Vear's income and profits during the 5 : acceptance 0!(' subscriptions, said re- period covered by the maturity dates For Infants and Children orts t e reasur a oug he of treasury certificates of indebted- e oo outstanding, will fully | InUse For Over 30 Years official date is the 2lst, one week Ness now pro- from tomorrow. The drive will con- Vide for the retirement of such cer-y Always bears SMnneitnras weelkian by 10 {tificates. Tie issuc will be limited to the % ‘In fixing the terms of the issue,” 500,000,000, except as it may he| Signature of LA eaid Secretary Gl announcement Ne¢ ry to increase or decrease the Secretary Glass has announced re- (B R) -ANARGYROS. Caoira sroo. &5 P LomLuns PUT IT ON | » . 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