Show LIBERTY BONDS GAIN 20 PER PERCENT I CENT II IN VALUE SINCE 1917 1911 Government Issues On Highest Plane at Present Time 12 Billions Outstanding Inv Invested sted With Uncle Sam B BY ny rr RD n i COLFIX of Tho Standard Examiner 1924 by The Consoli Consolidated dated Pre Association W WASHINGTON ASI June Juno 25 Twelve billion dollars dollare worth of outstanding Liberty bonds bond 01 owned ned It Is Ik believed by not less lees than 6 firms firm and Inh ho hate climbed within the Ih past few rew daIs to the highest value alue since Ince they ere re Issued from six sixto sixto sixto to seven seen years year ago apo lib In the ear ar the market markt salue alue of outstandIng Liberty bonds has hs Increased by approximately On the average cah cach 1000 bon bond l has Increased In b approximately 29 2 JJ RISE I rom the th 10 lowest loest quotations t at which the Liberty bonds ero t era sold old In 1920 1120 and 1921 1121 the th In- In Increase In Increase crease rease In maet value alue 11 lies has been phenomenal riley rhey hae hav ha e risen al- al almost al almost most three billion above abon e the th low low- lowest lowest lowest est level leeI The rise amounts to slightly moro more mor than 20 0 per pr cent or one fifth of par and I Is almost Imol z per cent or one-fourth one more mor than the Ibe bonds 1 would could have havo fetched had bad they been ben sold at the lowest mar mar- mar mar-kt hat het from three to 10 four our ars ago afo Persons who base hav b held ld these bonds ho bean hav reaped raped the benefit tit of the Increase as In few fw ew other olber cases ot of gilt edge edee securities lor 1 I or the mOst po pait t it Is belle believed the th banks are arc the chief ho hore individuals ho bought them tsen w en en th they were r and Issued and more than 7 subscriptions were er received received pell I-pell- aen emily sol sold l them at a 10 loss lora 1 hey I bought at par and sold at 01 prices belo below par when then of or the money market and the th bulnes s nIO combined II to carry the he hei i bonds to low values T Tl TX 1 IRUE hue most moat of th the Liberty I Is- Is Issues Is Issues sues bal hav haia e touched their highest point th the present month montha a notable exception Is found In Int inthe t the he cas case cane of ot the first Liberties rhey are arc selling toda loda at lit approximately 10 but In October 1922 1022 they sold up to 10 10 rhe fhe I I eaton for the d decline from the h high point of 20 ZU months ago IheI I while all othet Ise are aro ar climb climb- climbIng Ins climb lug Ing I is found In III the th Intel est cst rate I anti and la tax ta feature of the he 1 l cue oue uc these Jon bonds la pay only 3 per pr cent ent Interest but the Interest I on them was as exempt empt from all fode at Income all and l profit profits taxes tae 1 The he othet othe oth pay higher In- In Interest Interest In Interest terest rat rates but are only par par- par e exempt from tron such taxation par par-I I In toe meantime ea mo mota congress ss has enacted a new ta tax law w with I I 1 10 lower er surta rates as aa well ell a as lois 10 e e- e normal rale rates Consequently the tho first Liberties arc are not regard regard- regarded ed ed cd by Investors a as being quite so 0 desirable for tor income tax purposes j I a as theer the er were iere two year years ago aro I i I I I I Had congre congress confirm enote enacted l the th Md-I Md Mci- Mci lon tOil Ion bill Its It aWl lower lowr cur cur- tax ur-tax tax rails than the present law carrIes carrie It Is regarded hero her n as Quito likely that the market markt il tai tai- al- al placed pieced upon first liberty bond bonds would bad declined a II re fe points pOlau more mort 1 lh he Liberties It I Is us thought would ouid bp Lip even eten leu I und under r the lh Mellon pro pro- proposal proposal to largo large larR la investors tors tItan man they sec sor now I The Th greatest rite ris In values alues dur dur- durIng dur- dur lag inc the tho present sear ear ear ha occurred I In lh case cas of the so called first Liberty 45 41 1 heso bonds bond were re IS- IS issued is issued sued in exchange fr tor first Liberty 3 28 they riley carry corry a higner inter inter- esc est eat rate rat but Lut not noi a full flom tax iney ibey have hace risen during the present lear ear from rom 98 ill U lu 30 to an inCrease or of 3 7 poInts G GL 1 N 1 1 lS 04 V LUL Next ext In appreciation are arc the first rot Liberty 4 4 i i s and the th fourth LIberty Loud bond also pa Ing 41 per pr percent percent cent 1 he suo has lias outstanding at the he lh pres present lIt time Irma about HuO worth par alue alue the tho th latter a was as the of all alt the Iho lh Liberty Iu as outstanding ut t the tho th close or of orthe ofHie the tue Vast past l 9 vear ear Secretary Mello states stales 6 50 uvo In iii fourth Liberty bonds On Oa each of these Issues market values are today 3 i 3 points higher than they I e cere during the lIce tb early arly months of the year J this his means an increase lii In this year o ot of HG Second Liberty 4 43 h have hae e gone cone UP upI I 2 b k points pO tao tuo tu lear ear ln- ln In creasing their total valuation by about there being onlY a small amount Sl H QUO QUO out out- outstanding standing Second Liberty Ho 4 1111 H 4 lat OUO par value out oui Man standing h have haia e hisen t 4 it 7 points or orall orall alt all tola tala about rhe fhe third Liberty loan is suo u lul 3 outstanding pat pal alue value has risen J 4 0 points point ur or tor lor a total or of about lO since last lisl Jan Jan- Jan Jan TUlLE 1 01 or PRICES But to e the th full rise In the th met value alue ot or these bonds Londs one on must go co bac back to the 10 cst selling inline prices for forthe forthe forthe forI the Liberties they all II touch ouch touch touch-id their 10 lowest t In tn llO Here Her s is the stor alOr o of their rise Present Isue ue LOI et value alu value 1st 3 las Ik 4 U tat lat is i O U 10 10 2nd 49 43 Ill U 3 2 lul 10 nd 4 s 11 81 1 1010 3rd 84 41 t 1 0 4 41 5 s 1 U 1030 30 I iho ho Increase in value salue of ot the tho arious Iu Issue since those Il low w prices el welo ela 0 reached rached has been about a as follows follos s 1 Liberties sec second ond Liberties 6 third 8 OUO fourth Liberties 1 1 2 4 OUO The Tho total Increase foots 12 2 |