New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-05-25
BANKING AND FINANCIAL.
RELATIVE VALUE OF THE THREE-AND-A
HALFs,n "FoURs' AND "FQUR-AND-A-
HALFs,D FOR INVESTMENT OR FOR BANK
ING PURPOSES.

ING PURPOSES.
OFFICE OF FISK g. HATCH, BANKERS, }
No. 3 NAssAU-sT.,
NEW YORK, May 25, 1881.
The wonderful success of Secretary Window in
continuing the Elves and SKIES Of 1881 at 3ia per,
cent interest, shows in a remarkable manner the
unrvalled credit of the United States as also tho
great desire of the people to hold and keep their in
vestments in Government Bonds at any rate Of
interest however small.
To meet this demand, We shall keep on hand for
immediate delivery the new United States Three
and -a-half per cent Bonds which all registered
and issued in all denominations. Also, the United
States "Fours' and "Four-and-a-halfs," either
coupon or registered these have still long time to
run, and. we expect, will soon become very scarce
and difficult to pick up in large lots at oil, regard
less OF price.
Holders of the Skies of 1881 who failed to have
them continued" will receive payment for the
same July lst next with six months interest
amounting to I03. We are prepared to receive these
Bonds at any time payment for other United States
Bonds at this price, thus enabling holders to
realize on them at once in making new investments
in Government Bonds, which promise to be much
higher before July 1.
As the $3.50 OOO, 900 limit fixed by Secretary
Window for continuing registered Elves" has
been reached leaving $75, 100000 Of this is
sue to be paid of at par and interest. we look for
great demand from the holders of these to reinyest
We shall be prepared to exchange these bonds for
other Issues Of the Government OH the most favor
able terms.
The Coupon "Fivcs' can still be continued at
thrce-and-a-half per cent up TO July !, and it
would be we'll for all holders to present them imme-
diatcly, as the first presented will be the last
called in whenever the Government desires to pay
them.
Some of the Three -and-a-half' per cents will
probably remain uncalled for period of years, and
il i. not unlikely that the Government in view of the
advantage Of having large part of their bonded
debt in this desirable shape, WILL instead of calling
the Thrrc-and-a half per cents, cOnfne their pur-
chascs for the Sinking Fund to the d" Fours" on
which they would otherwise be compelled 10 pay
this high rate of interest for period of twenty-six
and half years. We think the Secretary would
best serve the public interests by doing this, even
/ Al much higher price than the " Fours row COM
mand.
ANY National Banks desiring TO exchange their
Fours now in the Department for the Three
anda-halfs" in order to realize the difference for
! their premium account will find ready at oil
times To- make them proposals for such an exchange
The Fourand-ahalf per cents at their present price
1l5lt. we consider quite ~ desirable as the Three
and-a-halfs at 1914 FOR Banking purposes rs they
are equivalent TO positive ten year Three
anl-a-half at five per cent premium. For private
! investments Of trust funds, for Estates. Savings
! Banks. ifr Insurance Companies and all who de-
sire their investments to remain undstnrbcd for "A
! long prIiod. the "Fours" undoubtedly the best
[ Bond to bus, and for these purposes We expect to
40. thc,n selling at above 100. In fact, we are con-
WINGED that IT, Government credit will advance to
| a Two-and-a-half per cent basis.
We arr ready to 1--WE information about Govern
ment Bond Investments and to buy, sell, or eN-
change AT all times and in any amounts.
Very truly
FISK & HATCH.