Bonds with the limited number of interest coupons attached will be thus delivered in order to save the annoyance of the delivery of interim receipts and to allow sufficient time for the engraving and printing of bonds with the full number of coupons attached without inconvenience to the holder. The bonds 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-profits and war-profits taxes, now or hereafter imposed by the United States upon the income or profits of individuals, partnerships, associations, or corporations. The interest on an amount of bonds and certificates authorized by the act of Congress approved September 24, 1917, the principal of which does not exceed in the aggregate $5,000, owned by any individual, partnership, association, or corporation, shall be exempt from the taxes provided for in clause (b) above. If a subsequent series of bonds (not including United States certificates of indebtedness, war-savings certificates, and other obligations maturing not more than five years from the issue of such obligations, respectively) bearing interest at a higher rate than 4 per cent per annum, shall, under the authority of said act approved September 24, 1917, or any other act, be issued by the United States before the termination of the war between the United States and the Imperial German Government (the date of such termination to be fixed by proclamation of the President of the United States), then the holders of 4 per cent convertible gold bonds of 1932-47 shall have the privilege, at the option of the several holders, of converting their bonds at par into bonds bearing such higher rate of interest, at the issue price of bonds of such subsequent series, not less than par, with an adjustment of accrued interest. Such conversion privilege must be exercised, if at all, at any time within the period after the public offering of bonds of such subsequent series, beginning at the date of issue of bonds of such subsequent issue, as such date shall be fixed in such public offering, and terminating six months after such date of issue, and under such rules and regulations as the Secretary of the Treasury shall have prescribed. The bonds to be issued upon such conversion of 4 per cent convertible gold bonds of 1932-47 shall be substantially the same in form and terms as shall be prescribed by or pursuant to law with respect to the bonds of such subsequent series, not only as to interest rate but also as to convertibility (if future bonds be issued at a still higher rate of interest') or nonconvertibility, and as to exemption from taxation, if any, and in all other respects, except that the bonds issued upon such conversion shall have the same dates of maturity, of principal, and of interest, and be subject to the same terms of redemption before maturity as the bonds converted; and such bonds shall be issued from time to time if and when and to the extent that the privilege of conversion so conferred shall arise and shall be exercised. If the privilege of conversion so conferred shall once arise and shall not be exercised with respect to any 4 per cent convertible gold bonds of 1932-47 within the period above prescribed, then such privilege shall terminate as to such bonds and shall not arise again though again thereafter bonds be issued bearing interest at a higher rate or rates than 4 per cent per annum. W. G. MCADOO, Secretary of the Treasury. Treasury Department. 1917 Liberty Loan-Form No. 1019. Loans and Currency. [Coples of this form may be obtained at any Federal reserve bank or at the Treasury Department in Washington.] REQUEST FOR CONVERSION OF 15-30 YEAR 3 PER CENT CONVERTIBLE GOLD BONDS OF THE FIRST LIBERTY LOAN. [To be used only upon conversions of coupon bonds or interim certificates.] To the SECRETARY OF THE TREASURY: Dated_____. According to the terms of Treasury Department Circular No. 93, dated October 19, 1917, the undersigned herewith presents and surrenders $------, face amount, of coupon bonds of the first Liberty loan and requests that the same be converted into an equal face amount of United States 4 per cent convertible gold bonds of 1932-47. Upon conversion of said interim certificates, delivery of such 4 per cent convertible gold bonds of 1932-47 is requested in the denomination of $-----each in registered form. Signature in full____ coupon (The execution of the above form is all that is required if coupon bonds or interim certificates are surrendered for conversion on or before December 15, 1917, but if surrendered after that date payment to the United States of the amount required to adjust interest must be inclosed and filled in immediaely below.) The sum of $------ is inclosed herewith. REQUEST FOR EXACT ADJUSTMENT OF INTEREST. (To be used only upon conversions of coupon bonds or interim certificates after Nov. 15, 1917, and prior to Dec. 15, 1917, in case an exact adjustment of interest is desired.) According to the terms of Treasury Department Circular No. 93, dated October 19, 1917, the undersigned hereby requests that an exact adjustment of interest be made in respect of the conversion of $------, face amount, of [coupon bonds the first Liberty loan, and the sum of $. ___ is inclosed herewith, being the amount required to be paid to the United States to adjust interest, as provided in said circular. interim certificates, }of Signature in full___ (Signature must be the same as signature to request for conversion.) NOTE 1.-Interim certificates of the first Liberty loan may be presented for conversion only at the Federal reserve bank by which such interim certificates have been respectively executed. NOTE 2. All coupon bonds and interim certificates presented for conversion after December 15, 1917, must be accompanied by payment of the amount required to adjust interest, as provided in Treasury Department Circular No. 93, dated October 19, 1917. NOTE 3.-Payments required to adjust interest must be sufficient to cover such interest up to the date when such payments shall be actually received at the place of conversion. Such payments must be made in cash, or by post-office or express money order, bank draft, or certified check collectible without exchange at the place where_conversion is to be effected, and payable, if conversion is to be effected at the Treasury Department in Washington, to the order of "Treasurer of the United States Liberty Loan Conversion Ac count," or, if conversion is to be effected at a Federal reserve bank, payable to "Federal Reserve Bank of Liberty Loan (Here insert name of city in which bank is located.) Conversion Account." No other forms of payment will be accepted. NOTE 4-If it is desired to convert both coupon bonds and interim certificates, two separate forms of request for conversion must be used. NOTE 5.-If delivery of registered bonds is desired upon conversion of interim certificates, the form of application for registered bonds appearing upon the backs of such interim certificates must be filled out. Treasury Department. 1917 Liberty Loan-Form No. 1020. Loans and Currency. [Copies of this form may be obtained at any Federal reserve bank or at the Treasury Department in Washington.] REQUEST FOR CONVERSION OF REGISTERED 15-30 YEAR 3 PER CENT CONVERTIBLE GOLD BONDS OF THE FIRST LIBERTY LOAN. [To be used only upon conversions of registered bonds.] To the SECRETARY OF THE TREASURY: Dated---- According to the terms of Treasury Department Circular No. 93, dated October 19, 1917, the undersigned herewith presents and surrenders $------, face amount, of United States 15-30 year 34 per cent gold bonds of the first Liberty loan, duly registered in the name of the undersigned, which the undersigned has caused to be duly assigned for transfer to the Secretary of the Treasury, and the undersigned requests that said registered bonds be converted into an equal face amount of United States 4 per cent convertible gold bonds of 1932-47. Signature in full_____ (The execution of the above form is all that is required if registered bonds are surrendered for conversion on or before December 15, 1917, but if surrendered after that date payment to the United States of the amount required to adjust interest must be inclosed and filled in immediately below.) The sum of $------ is inclosed herewith. REQUEST FOR EXACT ADJUSTMENT OF INTEREST. (To be used only upon conversions of registered bonds after Nov. 15, 1917, and prior to Dec. 15, 1917, in case an exact adjustment of interest is desired.) To the SECRETARY OF THE TREASURY: Dated 1917. According to the terms of Treasury Department Circular No. 93, dated October 19, 1917, the undersigned hereby requests that an exact adjustment of interest be made in respect of the conversion of $------, face amount, of registered bonds of the first Liberty loan. Signature in full__ (Signature must be the same as signature to request for conversion.) NOTE 1.-All registered bonds presented for conversion after December 15, 1917, must be accompanied by payment of the amount required to adjust interest, as provided in Treasury Department Circular No. 93, dated October 19, 1917. No payment is required in respect of registered bonds presented for conversion on or before December 15, 1917. NOTE 2.-Payments required to adjust interest must be sufficient to cover such interest up to the date when such payments shall be actually received at the place of conversion. Such payments must be made in cash, or by post-office or express money order, bank draft, or certified check collectible without exchange at the place where conversion is to be effected, and payable, if conversion is to be effected at the Treasury Department in Washington, to the order of "Treasurer of the United States Liberty Loan Conversion Account," or, if conversion is to be effected at a Federal reserve bank, payable to "Federal Reserve Bank of Liberty Loan (Here insert name of city in which bank is located.) Conversion Account." No other forms of payment will be accepted. NOTE 3.-All registered bonds presented for conversion must be duly assigned for transfer to the Secretary of the Treasury on the form provided for that purpose appearing upon the backs of such registered bonds in accordance with the detailed instructions thereon set forth. |