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Show BONDS CONVERTIBLE, BANKS ARE ADVISED First Liberty loan 3- per cent bonds are- convertible and will be exchanged for 1 per cent bonds of the second issue on and after November S, according to a circular received yesterday lr,- Salt Lake bankers from the federal reserve institutions. institu-tions. The circular says: First coupon, payable December lo, lit 17, will carry interest for five months -at 32 per cent per annum and for one month at 4 per cent j:er annum. Bonds presented for conversion con-version after November 15. 1917, but before December l.", 1917, may be converted as of December 15. 1917, or exact interest difference may be ad- justed by payment of difference to federal reserve bank. All conversions conver-sions after December 15, 1917, will require re-quire payment of interest adjustment to federal reserve bunk. Transportation charges cannot be paid by the government on per cent coupon bonds sent in for conversion con-version or on conversion bonds issued therefor. Transportation charts -will be paid on Interim, certificates sent in for conversion and on conversion bonds issued therefor. Treasury department de-partment circular No. 3. dated October Octo-ber IS. 1917, with necessary forms for application for 'conversion bonds, will be forwarded direct from the treasury department to all banks in this district. |