The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-03-01
FINANCIAL.
3 e NJ MS YLV AMI
STATE LOAN.
PROPOSALS FOR A LOAN
$2S,OOO,OOO.
AN ACT
TO CREATE A LOAN FOR THE REDEMPTION
OF THE OVERDUE BONDS OF THE
COMMONwEALTH.
AN ACT
CoMMONwEALTH


and certain certificates of indebtedness,
amounting to TwENTY-THREE MILLIONS
OF DOLLARS, have been overdue and unpaid
for some time past;
And Whereos, IL is desirable that the same
should be paid, and Withdrawn from the market;
therefore, ....
Of Representatives. Of The Co1n'nort0edh Of Penn
SyvdTid in General Assembly met, and y Is here0y
Governor, Auditor-General, and State Trea-
surer be, and are hereby, authorized and em-
powered TO borrow, on the faith OF the COM
monwealth, in such amounts and with such
notice (nOt less than forty days. as they may
deem most expedient for the interest OF the
issue certificates of loan or bonds of the Com
monwealth for the same, bearing interest at q
payable semi-annually, on the lst OF February
and LIST of August in the city of philadelphia;
which certihcates OF loan or 1onos shsiI n9t oe
municipal or local purposes, and shall be paya-
BILE as follows namely:-Five millions of dollars
within ten years; eight millions of dollars paya-
BILE at any time after ten years, and within tif-
teen years; and ten millions of dollars at any
time after fifteen years, and within twenty-five
years; and shall be signed by the Governor and
State Treasurer, ana counteTslgned by the
the Auditor-General,a and to be transferable on
the books Of the Commonwealth, at the
Farmers and Mechanics National Bank OF
Philadelphia; the proceeds OF the whole OF
which. loan, including premiums, etcetera,
payment of the bonds and certificates of in
| debtedness of the Commonwealth.
Section 2. The bids for the said loan shall be
opened in the presence of the Governor, Audi
| tor General, and State Treasurer, and awarded
to the highest bidder: Provided, That no certih-
| cate hereby authorized to be Issued shall be
| negotiated for less than its par value.
| Section 3. The bonds OF the State and certin-
Gates of Indebtedness, now overdue, shal pe
such regulations as the Governor, Auditor
| General, and State Treasurer may prescribe;
fna lna nAT1ny
| 10 be issued, shall state in his bid whether the
| same is payable in cash or in the bonds. or
| certificates of Indebtedness OF the Common
| Section 4. That all trustees, executors, admin
| istrators, guardians, agents, treasurers, COM
| mittees, or other persons, holding, in a hdu-
ciary capacity, bonds or certincates OF lndept-
edness of the State or moneys, are hereby
authorized to bid for the loan hereby authorized
Certificates e Id OF loan held by them at the time Of
% sHso s be- eG aad by 70 e
! Section 8. Any person OF persons standing In
money in their hands for the benefit of the
| trust, may, without any order OF court invest
| the same In the bonds authorized to be issued
| by this,act, at q rate of premium not exceed
Section 3. That from and after the passage OF
| this act, all the bonds OF this commonwealth
Section Z. That all loans of this Common
wealth, not yet due, shall be exempt from
Interest T. due February ~ 1st, one thousand
L
eight hundred and sixty-seven, shall have been
paid.
| thereof, Inconsistent herewith, are hereby re-
p'''-' JOHN P. GLASS,
| Speaker of the House of Representatives.
| u. w. HAIIL
| Speaker of the Senate.
Approved the second day of February, one
thousand eight hundred and sixty-seyen.
| ...... JOHN w. GEARY.
In accordance with the provisions OF the
| above act of Assembly, sealed proposals will
| be received at the Office of the State Treasurer
| in the city OF Harrisburg, Pennsylvania, until
II o'clock NJ, of the lst day of April a. u. 1867
| TO be endorsed as sfollows:-"Proposals for Penn
| sylvania State Loan" Treasury Department.
| Harrisburg, Pennsylvania, United States OF
| America
BILE in five years and payable in ten years;
SS0 100000, REIN bursable in ten years, and payable
in fifteen years; and $40 100000, reimbursable in
| fifteen years and payable in twenty-five years.
The rate of interest to be either five or six per
stated in the bid, and the bids most advanta-
| geous to the State will be accepted. No bid for
| less than par will be considered. The bonds
| will be issued in sums of $50, and such higher
| sums as desired by the loaners to be free from
| State, local, and municipal taxes.
| The overdue bonds of the Commonwealth OF
| Pennsylvania will be received at par in pay
| ment OF this loan, but bidders must state
| whether they intend to pay in cash or In the
| overdue loans Aforesaid.
| No distinction will be made between bidders
| paying in cash or overdue loans.
JOHN w. GEARY,
| Governor of Pennsylvania.
JOHN f. HARTRANFT,
| Audltor-General
| VIII. KEMBLE, ...
! State Treasurer,
N.R.-No newspaper publishing the above,
unless authorized, viii receive pay. ~