New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-11-29
NEW YORK DAILY TRIBUNE, SATURDAY

Tho 'oHnsirg day suh.-fif'i"s- r'r'''r a. !,
"A : % :ecc.,r an.l DE g. 's' r ~ ~
4 ...f si,sfs y ~ i'-r'. - '.'ft 80 -
$40 anaO30 " ,ir "a. al si-- SIZE. 80" r al'
.,e tue s.. .y'.,rai rs.p,st - fs..s 1r' 'n-
the it,us % trec .sTiil itrs rtnt g. ts't- - -
praftr.bir % d -tr.bl,iou tire iH.i'r dos = '.'
pe, ~. ,.xrs.n.rs were also nadt "a 30" an'uii 81
f20s9.5c
or Arr1 II cali wa. mad fr 49, fcT nGof - &
ten ortv i,o,.is o. ~ s-iti ,rf u'-ir tr
$500 900 Of ire loan Of ISIS tars cano' ans i'e -
icuuiian II ~ outstanding reecra. Dot" i~ l'r"rrf
interest NJ > per ecut o. NI-rcL H. 49, 'ite'erd''
Ticasury iii antaoris, 20 cTFh ir ~"
cert f-at,s arih iz,d hy The 80 g., Feb uaf' 20 isp
United s.ates was auth,rzeG 10 issnc ,hc0 rron
IN" ceri.huaic If any Na,;nnai bank dr..r-
,r'bnte the ale Of ,he~c ccriles N,iion:l Book
and public officers iuyci = hlcrnc p'.i'ori's
tons Ga and 5i5s Of The Rsyiscd s'r'utss OF te
Unit.c states. Esch cer' AGATE WIS r.p'r'' "a me "
4 per cent pr aunuul from Apfil l. l>79 a. which
tine tie quarterly i'bfesi bsan On the !
per cent bond. rate "hlrh inr 'e,uh' 't N'l- go"
vertihr 81 Sums o $50 ia mu'tlplc- Any pei snh
tcfed in hi~ maine on thr o"nK- o. .'1 Dtpi ''th -
mciiaielY upon the advance by Ia" Department 81 me
per cent anoyc par he d-mand for tucsc certificates
greatly increased Offers 4or them NJ p.elnln c"t,
were convertible received. but he act
unacr which they were issued not only author
change Tor lawful money. Thu, appare iiy nrev ming
the sale 81 them az premium. an TIE offers W,rr
Il
reach of small investors On AMI after Apiil
Is. their sale WAS restricted Ia Independent
Treasury Officers ANA public officers bonded for
that purpose, ana 20 NOT cding 800 al one
| time EMISSIONS Of the intent oi The law AM insiruc-
tOas, however. with view OF immediate conversion
OF The cert -fraios into bonds soon became evident
aud Apri % the officers selling tine Ceriifc ties
were directed to refuse them wien sucn evas on was
manifest. AT The time. commissions on the sales
II In large amounts, greatly reduced ana
the conversion of the certificates into bonds
was postponed until July l. 1879 The entire
amount was however dsrOs,d OF "a rrpdly the
certificates could he prepared and before the clos OF
the fiscal year In response 10 the invitation to become
rcpositarics for the sale OF these ceriincates.
500 pubic officers and sevcnty-six National
banks were designated for the purpoe and
engaged in the sale. Tho certificates Were
sold folows BY public officers designated as depos-
fares. SOS 500 200; by National banks $4,000; by
independent Treasury officers, S1O.2f5ss0; IN al S4n
1850 of which there mad been converted mt"
cent bonds TO close of DlsinosS. October 81.
1879, S37. 2O3, 3jc. leaving Outstanding $2,sC9lOO
SUMMARY OF THE FUNDING OPERATIONS.
| Thus. since November %, 1873 to which date the
Transactions were brought In the last annual report,
refunded 1870 e4s730 six per cent ana
~ $50 i've per cent bonds OF the United states
into bonds bearing interest at per cent, making an
annual saving OF interest heretofore of S93j5s77 30.
The following table shows the transactions in rounding
March 1877. ana the annual saving If interest
| Their, from: