The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-11-20
new ISSUE U. S. BONDS.
PROPOSALS FOR $50, ooo,o 900 IN
VITED.
To Bear Interest at the Rate of Five PEI
Cent.--A Syndicate Ready to Take the
Whole Issue.

To Bear Interest at the Rate of Five Per
Cent.--A Syndicate Ready to Take the
Whole Issue.
WASHINGTON, Nov. 13.-The follow
ing circular was issued at 3:15 this
evening:
TREASURY DEPARTMENT, Washing
ton, Nov. -, 1894-By virtue of the
authority contained in the act Of Con
gress entitled: An Act to provide
for the resumption of specie payment, "
approved January 14th, 1875, the Sec
rotary of the Treasury hereby gives
public notice that sealed proposals will
be received at the Treasury Depart
ment Office of the Secretary, until IL
O'Clock noon, on. the Oath day of No
vember, 1894. for U. S. five per cent.
bonds, in either registered or coupon
form, dated February 1, 1894, redeem
able In coin at the pleasure of the gov
eminent, after ten years from the date
OF their issue, and bearing interest pay
able quarterly, in coin, at the rate of
five per cent. per annum.
Bidders whose proposals are excepted
vii! be required to pay 20 per cent. in
gold coin, or gold certificates, upon the
amounts of their bids as soon as they
AOGOANO uOGuC0 I'll Uu0 dCCSpbduC0 OI SuCu
bids, and to pay in like coin or certifi
Gates an additional 90 per cent. at the
expiration of each ten days thereafter
until the whole is paid. But they may
at their option pay the entire amount
of their bids when notified of their &C
! ceptance or at any time when an in
stallment is payable. The first pay
ment, however, of not less than 20 per
cent, must be made when the bidder
receives notice of the acceptance of his
proposal.
The denominations of the bonds will
be $50 and upwards, and bidders will
in their proposals, state the denomina-
tions desired, whether registered or
coupon, the price which the bidder pro
poses to pay, the place where it is de
sired that the bonds shall be delivered,
and the Offices, whether that of the
Treasurer of the United States or an
Assistant Treasurer Of the United
States, where it will be most convenient
for the bidder to deposit the amounts
of his payments.
The bonds will be dated February 1,
1894, in order to make the proposed
issue uniform as to date with the exist
ing issue, but interest thereon will be-
gin November 1, 1894 and bidders will
be required to pay accrued interest at
the rate of five per cent. on the face
value of their bonds from November
1st, to the date or dates of payment.
The total issue of bonds, in pursuance
of this notice, will not exceed the sum
of $50, 600, 900.
The Secretary of the Treasury here
by expressly reserves the right to reject
any or all bids.
All proposals should be addressed to
the Secretary Of the Treasury. Wash
ington, D. @, and should be distinctly
marked: Proposals for the purchase
of five per cent. bonds" Blank forms
for proposals may be had on applica
ton to the Secretary of the Treasury.
J. G.. CARLISLE,
Secretary of Treasury.
NEW YORK, Nov. 13-The success OF
the new government issue is already
assured. 1t can be stated on the high
est authority that Drexel, Morgan &
Co and Speyer & Co., and John A.
Stewart, President of the United States
Trust Co., and his following stand
ready to take the whole issue. Drexel,
Morgan & Go. and Speyer & Co. have
sounded the feeling in London regard.
ing the new issues and have found it
very favorable. They will accordingly
put in bids for large amounts of the
bonds, and if the public subscriptions
come in slowly, will together take the
bulk of the new issue.