The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1865-05-20
THE 7.3O LOAN.
aDS.OOO,0OO Subscribed In ooe

Week.
PHILADELPHIA, May 1.-THE Secretary
Of the Treasury has been directed 10 Issue
the balance OF the loan that was authorized
nv act of March 1865, and which amounts
to- two hrndrad and thirty millions In 7-S0
notes, precisely similar in tenor, form ano
privileges to the 7.S0s already sold, paya-
bic three years from the 10Th OF next July ):
except that the government will reserve to
itself the option Of paying interest IN eo.a
,cin at the rate of six per cent. instead Of
seven and three tenths IN currency. Sub
.eriLers will deduct the interest in curreM-
yum to July 18th when they subscribe.
The delivery nf the notes OF this third Sc
RES OF the Sos will commence on the tirst
Of June aud will he made promptly aud
continually after that date. Subscriptions
however will be received AT once and inter-
eet at seven and three tenths per cent. al
lowed to subscribers up to the 18th OF July
in the same manner As it was allowed for
;ntereet between the second series aud the
srst series. Any excess OF subscriptions
Ia the present series will be filled with the
new issue as speedily ss the notes can l's
change made in the conditions Of this third
series affects only the matter OF interest.
The payment in gold, if made, will be
equivalent to the currency interest of the
higher rate. The important privilege OF
converting the notes into the long and pop
ular $50 gold bearing bonds, or vi de-
nsnding payment of them q. maturity ut
the holders option, is not tnterfered with.
The takers of the 80 loan Will rejoice il
the Secretary sooner or later, avails him-
self of the option TO pay them six per cent.
in gold, in lieu Of the larger rate of inter-
st in currency. The return 10 specie pay
ments, on the event Of which only will this
option be availed Of. would so reduce aud
eQualize prices - that FE :cuases made
9Th cant in gold senpfiS l.o fN1l q
equal to those made with seven aud three
tenths per cent. in currency. The ma.
chinery used in popularising the first two
seriee Of the $50 loans will be occupied by
the Secretary OF the Treasury in tue sale Of
this third series. It wiii be under the su.
pervision OF Jay Cooke, the Government
loan subscription agent. 1t also will en-.
ploy the sub-agencies heretofore employed
and With which the people are familiar
It 10 confidently expected that the whole
amount will be sold in the next sixty ol
2 ninety days. When the two hundred and
thirty millions is disposed CT, the last OPP
poftunlty of these profitable Investments
IA United States government securities
will be gone.
The eu0scri ptions yesterday 10 the 81
loan amounted to t3O, 45l 80. The lewes
single western subscription was 81 ,OS5, ON
from the Second National bank III Chca
20. The First National Bank of Cincin
subscription was 1851 ,9Or from the Nints
National bank of New lork. The Bank
Of Commerce Of New York took one mil.
iior. Fitch & Hatch, Il. ", xi.0s2. 5OO.-
There were 81, 3O7 ind,vidwal ii descriptions
Heurv Clewes & Co. OF 4. ", took on
million. National Metropolis. Washing
ton, four hundred thousand dollars; Ma
tional Exchange Hartford. SAO,OOO: Sec
Ond National bank Of Providence. $3O0, 900
Second National bank Of Boston, $3.50 .O0O
The total for the week amounted to S9s,
ss4,6 at the close of yesterdays sales o
the 1908, but little i: any of tho secQn.
sories Of the $500, 90. 600 remained. Al
telegraph orders received yesterday wi!
be tiled and ii any OF the loan renal n
over !. will be given to the sirst applicant
vaRgaph on Monday morning. Two
amount of the second sc
reported, inclusive of vouch
1rsions, was about {! ~, 900 ,0O0
~ Is last week were about fort,
This week tley were ninety
hs. The balance OF the cou
- Ruartermaster' vouchers dur
ing t0o1g two weeks aud which were no
included IN the daily published sales Q
1908 together with the sales III Ca!iforni
and At the various sIb-branches, ais
not included insthe daily sales, will max
about fifteen millions altogether. The 10
tai sales are two hundred and uinety-eigh
millions. rtN ~ sr