The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1892-02-26

the tIO0He Wny the EOur-A0O-N-tI 4It
er Cent. bonds Werc Continued. and
Under what Authority.
WAsnrNcTox. Feb. TO- Secretary
Foster sent the following letter to
Speaker Crisp:
WASHINGTON, ID. G.. Feb. 10. 1872.
To me- Honorable. ne Speaker Of ne House cf
Representatives,;
SIN: have the honor TO acknowledge tho
receipt 81 the resolution 81 the house Of repre-
sentatives. dated the 18th ultimo, as follows.
"Etsoired. That the secretary Of the treasury
be. and he H. hereby requested TO inform this
house. whether al any time since the four and
one half per cent. bonds became due there has
been sufficient funds in the Treasury to pay the
same; and Il 80. by what authority he has as
sumed TO continue any Of such bonds at per
cent. interest. and why the same were not all
paid AZ the time said bot Is were due.
In reply have to stat, that the bonds Of the
AZ per cent. loan became redeemnbe. mt the
pleasure of the United States. after September
!. 1921. Thy did not become due on that date,
hut under the provisions ~ the act Of congress
hy which they were authorized. the United
States then acquired and now has the option OF
reieeming them az IT. pleasure uDon thrca
months notice 70 the holders.
The amount IL az Ter cent bonds out stand.
ing July ]. 1921. was $50 s5s ~. AMI tho cash
balance in tn treasury August ~. 1901. before
any OF them had bean rcdees ,ed was Sl6o.25i.-
s2tn5 In view Of the reduction Of available
balance which the redemption Of thu loan would
NJ that time have effected u was believed that
It's continuance at lower rate Of interest would
lie q prudent and profitable Transaction. all tho
benefits Of which. and not any disadvantages
would accrue 70 the United States
The authority under which tn, bonds wers
permitted TO cont nuc part Of the Interest,"
barring debt IL contained IN tho act which au-
1L..s.f A.
did not become dne The United states had
the undoubted right 70 defer their redemption
ind afinitcly. meanwhile paying 10 the holders
quarterly a. II should accrue. the interest
thereon. But some OF the holders were willing
without imposing any conditions. to accept a
lower rate Of interest than that specified in the
bond: and the offers Of such holders 20 take the.
lower rate. when accompanied by relcasc. nm
der seal, OF the remainder OF the interest, were
accepted the United States in the meantime
retaining all IT. rights In the premises
In this connection deem IL proper 70 state
that the Forty seventh con xrcss Nv legislation
Respecting the bonds then outstanding bearing
Interest at BIZ pcr cent Indicated its approval Of
the action OF my distinguished predecessor who
hal during the reccs~ then Just passed contin-
ned ~ We per cent. ssMs6D.o6o q the fvc and
six per cent. bonds which had become red sem.
able. Very respectfully
lsisned.l CnARlss Fosrxn, Secretary.
sudden Dtsapp~arsnse 30 : Prominent
BuaIness Man heavily Involved.
CARROLL, Ia, Feb ~. This city has
experienced q genuine sensation BY the
sudden disappearance Of O. A. Kent
ner. until Wednesday president Of the
Citizens state bank Thusday he dis
posed Of his interest in the bank, and
yesterday morning left with his wife
for parts unknown. His finances are
in badly mixed condition. lie owes
the First national bank s.. 900; Il.
w. Libby. a stock raiser. $4,000;
John Mccarthy and Frank Brady,
Of Audubon. $40. 600. This L for cattle
cold and money advanced.