Internal War Loans Belligerent Countries

Dated—January i, 1916.
Due—January 1, 1941.
Kingdom of Italy
5% War Loan of 1916
(Second War Loan)
Period of Subscription—Subscriptions in Italy received from
January 10, 1916 to February 10, 1916, and from abroad to
March 31, 1916.
Right of Redemption—Not subject to conversion or redemption
before January 1, 1926. Between January 1, 1926 and
January 1, 1941, the Treasury may amortize the obligations
of this loan either by purchase in the market or by means
of a special amortization bank administered by the Bank
of Deposits and Loans.
Interest Dates—January 1 and July 1.
Issue Price—97/4.
Form and Denomination—Coupon bonds in denominations of
100, 500, 1,000, 5,000, 10,000 and 20,000 lire exchangeable
for Registered Bonds in denominations of any multiple of
100 lire.
Method of Subscription—Subscriptions were received at the
offices and branches of the Bank of Italy, of the Bank of
Naples and of the Bank of Sicily and at many other financial
institutions. Foreigners and Italians resident abroad
could subscribe through Italian consulates. In the Italian
colonies subscriptions were received at the colonial branches
of the Italian banks of issue and in Italian Somaliland
at the Royal Treasury. The period of subscription was
extended to March 31, 1916, for foreign subscribers but they
were required to pay accrued interest at the rate of 5%
per annum from January 26, 1916, to the date of payment.
Subscriptions not subject to allotment.
Method of Payment—Subscriptions for 100 lire payable in full.
Other subscriptions payable in full or by installments as
follows: 25% on application with accrued interest if paid
after January 25, 1916, 25% April 10, 1916, 30% July 3,
1916, 17^% October 3, 1916, with accrued interest on last
three payments. Payment of installments could be anticipated
in whole or in part at any time.
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