Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-01-18
MAKE YOUR BIDS.
100000 Five Per Cent.
Bonds to Be Issued.
Issue Held at ll7.223 or Equivalent
to a 3 Per Cent. Bond.
And Today the Treasury Gold Resesvs Viii
Fall Be'ow s70.o00.oQo.

WASHINGTON, Jan. l1.-Secretary Car.
lisle this evening issued a circular inviting
proposals for IA $50 900 ,0o0 issue of Jer
cent. bonds, on a 3 per cent. basis, running
10 years, no bond TO be soil for less than
ll7,223. The bonds will only be cold for
gold and are to be redeemahle in coin.
Proposals will be received until noon, Feb.
/, 1894. Copies of the circular will be
mailed tomorrow to all sub-trcasuries.
The action of Secretary Carlisle was not
generally known, even in treasury circles.
when the department closed today. Among
the officials cognizsnt Of his intention the
opinion is expressed that he acted none too
soon. The treasury gold is rapidly on tie
decline, The loss today was SS62 900, and
siace the first of the month the gold bal
nnte has declined from $50, ,S9l 900 to &70,-
G34 9l5, with the present indication that it
will fall below $40 900 900 tomorrow.
The bonds, of course, are to be pur-
chased for gold only, go that the treasury
gold will be built up to the extent Of the
bond issue. This, it is anticipated, may
only give temporary relief. As gold may be
paid into the treasury for bonds one dav,
and the very next day the same gold may be
withdrawn by presenting legal tender notes
or coin certificates for redemption. The
fleet of the bond issue will be TO give the
treasury more money, whether gold or cur
rency, is immaterial, and ease up the gov
ernment finances, at least for the present.
Following is the text Of the circular
'By virtue of authority contained in the
act entitled, Act to provide for the re-
sumption Of specie payments approved
Jan. IA, 1873, the secretary of the
treasury hereby offers for public sub
scyiption an issue of bonds Of the United
States, to the amount OF $50 900 900, in
either registered or coupon form, In denom-
nations of $50 and upwards, redeemable in
coin at the pleasure of the government,
alter 10 years from date of theft Issue,
bearing interest, payable quarterly in coin,
at the rate of per cent. per annum.
Proposals for the whole or any part Of
these bonds will be received at the treasury
department, Office of the secretary, until
noon, on the first day Of February, 1894.
Proposals should state the amount of bonds
desired, whether re egistered or coupon, the
premium which the subsctiber proposes to
pay, the place where il is desired the bonds
shall be delivered, and the office, whether
treasurer of the United States or assistant
treasurer of the United States, where il
will be most convenient for the subscriber
to deposit the amount of his subscription.
Failure to specify the above particulars
msy cause the proposal to be rejected.
"As soon as practicable, after the first
day of February. 1894. allotment of bonds
will be made to the highest bidders there
for. No proposal will he considered at
lower price than III 223, which is the
equivalent of 3 per cent. bond at par.
The right to reject any AMI all proposals is
hereby expressly reserved. In case the
bids entitled to allotment exceed the bonds
to be issued, they will be allowed pro rata.
Notices of the date Of delivery of the bonds
will be sent to the subscribers to whom the
allotmenls are made as soon as practicable.
and within 10 days from the date of
such notice, subscriptions must be
paid in United States gold coin
to the treasurer or such assistant treasurer
of the United States as the subscriber has
designated, and il not SO paid the proposal
may be rej cted.
"The bonds will be dated Feb. J., 1894,
when payment is made therefor. rs above,
and accrued interest on both principal and
premium from Feb J., 1894, to the date of
payment, at rate of interest realized to
the subscriber on bis investment, will be
added. All proposal, should be addressed
to the secretary of the treasury, Washing
ton, ID. c., and should be distinctly marked
Proposals for subscriptions to 3 per cent.
bonds J. g. CARLISLE, Secretary"