New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-06-06
Business Monies.


tE4tract from ne Fourth Edition Of Memoranda Concerning
Government Bonds" Published By Fisk Hatch, for tie IN
formation Of IaUsstOTsl
THE INQUIRY is constantly made, When
Issue Of Government 4 TIE best to buyJr InVetmstP
This question cannot answered with absolute certainty
for She reason that exception Of the Currency SKIES
the oregon War the first series OF the skies OF 1881
Al Of the bonds payable at The option Of ne Government
zy certain periods named and tho time OF their redemption
m therefore uncertain and for the reason that the annual
income which Bond win yield the amount Of money In
vested in It, bought premium above par or at ais
count par depends upon the length Of time for which
may rum or in upon the number Of years over
which the loss Of the premium bought above par or the
gain Of the discount bought below par to be distributed
Our answer to the above inquiry, therefore, is:
o. There ia no difference between Of the issues of Gov
eminent Bonds as to the absolute sa Of ne fnrsmens oil
being equally desirable in this respect
t2) There are some minor differences the time and
manner OF paying interest respect which investors
Judge for themselves will be most satisfactory to them
and there are derenCes the of the different
Loan Acts the kind of money which the bonds shall be
payable and their exemption taxation all Of which are
distinctly set forth the foregoing pages.
81 There are important differences be considered to
the time for which the different be expected torun
may be assumed certain that all the Six cent Bonds
Except perhaps the Currency Skies which have definite
periods OF maturity from 1895 to $780, viii be called for
redemption before any the Five Per Cent Bonds Fves Of
1881 ana TenFores) VIII be disturbed OF the Six Per Cent
Bonds exclusive Of the Currency Skies there out
standing S7ss, 667. 800
The three issues OF FveTwentes amounting TO S44 $780,
A5o time at the pleasure OF the Govern
ment and woud absolutely payable in 1885, 1887 and
1888 respectively The Skies Of 1881. First Series amounting
70 sls5OOO which should be called sixes Of 1880 will be
payable absolutely on the day December $780, The
Skies Of 1884, Second Third Series viii be redeemable at
the pleasure OF after June So 1884, and hare
no ped tras Of absolute maturity The oregon War Loan
Bonds viii be payable absolutely July l. 1881.
Under existing laws the calling and redemption Of
the six per BOsds depends mainly upon the sale OF -Four
per cent Bonds except the extent that the FOurandaha
Der cont Bonds authorized by remaining unsOd may
be ussd for that purpose
At the rate s1OOOOOOO0 per annum, average Of
soO9OOO per week. require about years and
half 10 redeem all Six Bonds above named and
about -FOUR years and half to redeem all the FveTwenty
Bond OF 1865 1867 and 1858.
Wae at intervals since passage OF the Funang Acts Of
July a. 1870 and January 1871 the sales Of Four
sndaha and Four Per Bonds have been much more
rapid than sbOvenamed the averagefor the whole
period has not varied materially from it The sale OF the Five
Per Cent Bonds Of in March, 1871 and
during the years March, 1873 the sales Of bonds for
funding aud redemption purposes has amounted to about
800 OONOOO divided - follows, viz;
Five Per Cent Bonds Of 1881. 4O35O
FOar ami s-han Per Cent Bonds zO9U091OO
FOar PEI Cent BOO00OOO
S7ss,44Os5O
or At the rate Of about s112 100000 per annum.
During period FveTwenty Bonds were called In to
The amount Of 1914 70 the balance Of the proceeds Of
saes having appropriated the accumulation Of coin
tor resumption.
The amounts called for redemption in each year have been
aafnIlnNEs VIZ,