Jasper County Democrat, Volume 22, Number 5, Rensselaer, Jasper County, 16 April 1919 — NEW LOAN TERMS ANNOUNCED [ARTICLE]

NEW LOAN TERMS ANNOUNCED

Issue to Be $4,500,000,000 and Mature in Four Years. Washington, April 13. —Terms of the Victory Liberty loan were announced today by' Secretary Glass. They are: Amount, >4,500,000,000, oversubscriptions to be rejected. Interest, 4 3-4 % for partially tax exempt notes, convertible into 3 3-4% notes wholly tax exempt. Maturity, four years, with the treasury reserving the privilege to redeeming the notes in three years. The 8 3-4 % notes to be Issued later, also may be converted subsequently back imto 4 3-4 % notes. The 4 3-4 % securities are to be exempt from state and local taxes except estate and taxes, and froani norma] rates of federal income taxes. The 3 3-4% securities are exempt from all federal, state and local taxes except estate and inheritance taxes. The size of the loan was much smaller than had been anticipated by most financial observers, who looked for an issue of about |6,000,000,000 In view of Secretary" Glass’ past statements that the loan would be five or six billions.