The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-04-03
FINANCIAL
NEW LOAN OF THE UNITED STATES.
~ IMPORTANT CIRCULAR.
SUBSCRIPTIONS NOW OPEN-CBRTIFICATES
READY
TREASURY DEPARTMENT,
WARRINGTON. Feb. 2S, 1911.

READY.
TREASURY DEPARTMENT, /
WASHINGTON, Feb. 2S 1871.
Public notice is hereby given that books Will be
opened on the 9th day OF March next, in this coun-
try and In Europe for subscriptions to the National
Loan, under the act approved July a. 1870 entitled
"An Act to Authorize the Refunding OF the Ma
tiona Debt" and the act IN amendment thereof, ap-
proved January 20, 1871.
The proposed loan comprises three classes OF
bonds namely
First Bonds to the amount of five hundred mil
lions OF dollars, payable in coin, at the pleasure OF
the United States after ten years from the date OF
their issue, and bearing interest," payable quarterly
in coin, at the rate OF five per cent. per annum.
Second. Bonds to the amount OF three hundred
millions Of dollars, payable in coin, at the pleasure
OF the United States after fifteen years from the
date of their issue, and bearing interest payable
quarterly in coin, at the rate of four aud half per
cent. per annunff
Third Bonds to the amount OF seven hundred
millions Of dollars, payable in coin, at the pleasure
OF the United States, after thirty years from the
date of their issue and bearing interest, payable
quarterly in coin, at the rate Of four per cent per
annum.
Subscription to the loan will have preference in
the following order, namely
First Subscriptions that may be first made for
five per cent. bonds to the amount OF two hundred
millions of dollars of which there will be reserved,
for twenty days, one-half for subrcroers in this
country and oLe-haf for subscribers in foreign
countries.
Second. Subscriptions for equal amounts of each
class of bonds.
Third. Subscriptions for equal amounts Of bonds
bearing interest at the rate Of four and half per
cent of bonds bearing interest at the rate of five
per cent
Fourth. Subscriptions for any five per cent. bonds
that may not be subscribed Tor in the preceding
classes.
When a subscription is made the subscriber will
be required to deposit two per cent. Of the amount
thereof in coin currency of the United States
in bonds OF the class to be exchanged to be ac-
counted for by the Government when the new bonds
are delivered; and payment may be made either In
coin or in bonds of the United States known FIVE
TWENTY BONDS, at their par value.
The coin received in payment will be applied to
the redemption of five-twenty bonds, and the debt
of the United States Will not be increased by this
| loan
The bonds will be registered or issued with eou-
pons, as may be desired by subscribers. Registered
| bonds will be issued Of the denominations OF $780,
s1OO, $500, $1,000, $4,000, and $4,000; and coupon
| bonds OF each denomination except the last two
The interest will be payable IN the United States at
the ONCE Of the Treasurer, any Assistant Treasurer
or designated depositary OF the Government, quar-
tery, on the first days OF February, May, August
| and November in each year.
The bonds of the seveIa' classes Aforesaid, and
| the interest thereon, exempt from the payment
OF all taxes or OF the United Stres, well as
cipal, or local authority.
After maturity, the bonds last issued will be first
/ redeemed ty classes and Iumbers, as may tie de-
signated by the Secretary Of the Treasury.
The bonds will be issuef at the United States
Treasury tu Il agents for the negotiation OF the
loan in Europe are authorized to make arrangements
with subscribers for the transmission OF the bonds
| to the agents through whom subscriptions may be
| received
Subscribers in the United States will receive the
| new bonds OF the agents with whom the subscrip-
tions are made.
In the United States the National Banks are au-
thorized to receive subscriptions and subscriptions
may also be made at the office OF the Treasurer OF
the United States. OF any Assistant Treasurer, or
| the Designated Depositares at Buffalo, N. Y; Chi
cago Ill Cincinnati, Ohio; Louisville, KY; Mobile,
Ala. and Pittsburg, Pa.
p. P.S-This Department and its own Loan Agents
are now ready to receive the United States Five
twenty Bonds, and to pay the gold interestthereon
to May l, from which date the new bonds will bear
interest scrip certificate, calling for the bonds
on the 1st OF May will be issued at once in exchange
for the OLD bonds.
GEORGE s. BOUTWELL,,
Aa Secretary OF the Treasury