The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-04-04
FINANOIALs
NEW LOAN OF THE UNITED STATES.
~ IMPORTANT CIRCULAR.
SUBSCRIPTIONS NOW OPEN-ObRTIFICATES

IL.
SUBSCRlPT TlONS NOW OPEN-OBRTIFICATES
READY.
TREASURY DEPARTMENT, l
WASHINGTON, Feb. 2S, 1sTlJ
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 subsc rptions to National
Loan, under the az approved July a. 1870, entitled
"An Act to Authorize the Refunding OF the Ma
tonal 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 mill
lions OF dollars, payable in coin, at the pleasure of
the United States after ten years from t1e date If
their issue, and bearing interest, payable utterly
in coin, at the rate of five per cen PEI annum.
Second. Bonds to the amount OF three hundred
millions Of dollars, payable in coin, at the pleasure
Of the United States after df,t en- years from the
date OF their issue, and beaIing interest," payable
quarterly in cOin at the rate Of four I'D half er
cent per annum.
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 dcars Of which there will be reserved,
for twenty days, one-half for subrcri0ers in this
country and one-half for subscribers in foreign
countries.
Second. Subscriptions for equal amounts of each
class Of bonds.
Third Subscriptions for equal amounts o. bonds
bearing interest at the rate Of four and half per
cent and 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 subscription is made the subscriber will
be required to deposit two per cent Of the amount
thereof in coin or currency of the United States or
| 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 as FIVE
| TWENTY BONDS, at their par value.
The coin received in payment will be applied to
| the redemption OF fve-twenty bonds and the debt
Of the United States will not be increased by this
| loan.
The bonds will be registered or issued with cou-
| pons as may be desired by subscribers. Registered
bonds will be issued of the denominations OF $50,
! s10O, $500, $1,000, S500o and $10,Ooe and coupon
| bonds of each denomination except the last two.
The interest will be payable IN the United States, at
the Office of the Treasurer any Assistant Treasurer,
or designated depositary OF the Government, quar-
terly on the first days OF February, May, August,
and November in each year.
The bonds OF the several classes aforesaid and
the interest thereon, are exempt from the payment
OF all taxes or OF the United States, we'll as
from taxation in any form by under State, muni-
| cipal, or local authority.
After maturity the bonds last issued will be first
redeemed, by classes and numbers, as may be de-
signated by the Secretary of the Treasury.
The bonds will be issued at the United States
Treasury but the 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 or OF any Assistant Treasurer OF
the Designated Depositaries at Buffalo, N. Y; Chi
cago, Ill Cincinnati Ohio; Louisville, KY; Mobile
Ala. and Pittsburg, Pa.
P. Stills Department aad its own Loan Agents
are now ready to receive the United States Five
twenty Bonds, and to pay the gold tnterestithereoI
to May l, from which date the new bonds will beal
interest. A 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,,
43 Secretary of the Treasury.