Internal War Loans Belligerent Countries

Government of the French Republic
National 5% War Loan
(Second War Loan)
Dated—August 16, 1916, if fully paid and November 16, 1916,
if paid in installments.
Due—No fixed date of maturity.
Period of Subscription—October 5, 1916 to October 29, 1916.
Right of Redemption—Redeemable in whole or by series on
or after January 1, 1931.
Interest Dates—February 16, May 16, August 16 and November
16.
Issue Price—88.75.
Form and Denomination—Bonds registered as to principal
and interest, bonds registered as to principal and bonds
to bearer in denominations of 100, 200, 400, 1,000, 2,000,
10,000, 20,000, 50,000 and 100,000 francs.
Method of Subscription—Subscriptions were received at the
Bank of France and branches, the Treasury, offices of tax
collectors, savings banks, post offices and practically all
financial institutions. Subscriptions also received in French
colonies and abroad.
Method of Payment—Subscriptions in securities and cash
subscriptions made abroad, in the colonies or at savings
banks were payable in full. Other subscriptions were payable
in full or by installments as follows: 15% on application,
23.75% December 16, 1916, 25% February 16, 1917,
25% April 16, 1917, with accrued interest. Subscriptions
paid in full were plus accrued interest from August 16, 1916,
and the quarters interest due November 16, 1916, was allowed
and could be deducted from the issue price. Subscribers
paying by installments were charged accrued interest
from November 16, 1916, and were not entitled to quarters
interest maturing on that date. The customary limitations
on withdrawals of deposits from savings banks were
removed for depositors subscribing to this loan.
The following securities were accepted in payment, (1)
National Defense Notes, subscribed for before October I,
1916, at par less unearned prepaid interest, (2) National
Defense Bonds at the issue price (96.50) plus that portion
of the discount accrued at time of exchange and less un-
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