Crawford avalanche. (Grayling, Mich.) 1879-19??, 1894-11-22
CALLS FOR BOND BIDS
SECRETARY CARLlSlE'S Off.
GAL APPEAL is OUT.
VIII Issue $50. 600, 900 Per Cent. Gold
Bonds, Payable In Ten Years-No Mini
mum Price Fixed-Text OF the Circular
Sent Out.
To Borrow $50. 600. 900.


Secretary Carlisle has issued his call
year bonds, interest to be paid in ''coin,"
which is interpreted to mean gold. The
only material changes made in the pres
ent call from that issued Jan. IA last are
the omission of the upset or minimum
price which would be accepted and the
notice that the proposals for the present
issue must be sealed. 1t is confidently
expected at the Treasury Department
that an amount will be realized consider
ably in excess Of that received at the Feb
ruary issue. This expectation is based on
the fact that there are exceptionally large
amounts of money now lying idle and
seeking investment in the money centers
of the country, and upon the further fact
that the February issue is now quoted at
$l1S.5O, or about > per cent. above the
price which would yield 3 per cent From
the last issue there was realized SOS, $780,
917.63, and of this amount So, $50, ,264.2 PA
was in gold coin, $3.50, ,420 in gold cer-
tifcates, and $233.39 in other money,
which the sub-treasuries were compelled
to take in making change.
While these amounts were actually paid
into the treasury in gold or its equivalent,
a very considerable amount of gold was
withdrawn from the sub-treasuries for
the express purpose of using it again in
paying for the bonds. The exact amount
thus withdrawn cannot be ascertained,
but the best knowledge obtainable is that
it approXimated S1j,OO0,000.
With view of more exact estimate of
the amounts which may be withdrawn be-
tween now and the settlement of all ac-
counts under the call. the sub-treasures
will from this date keep n record of all de-
posits of legal-tenders made in exchange
for gold and the names of the firms or
persons making them.
Secretary Cariisle's Circular.
The following is the Secretary's circu-
lar calling for bids:
Treasury Department, Washington,
ID. C.-By virtue of the authority con-
tanned in the act of Congress entitled
an act to provide for the resumption Of
specie payments, approved Jan. IA, 1875,
the Secretary of the Treasury hereby
gives public notice that sealed proposals
will be received at the Treasury De-
partment, Office of the Secretary, until
II o'clock noon, on the oath day of No
cent. bonds, in either registered or cou-
pom form, dated Feb. 1, 1894, redeemable
in coin at the pleasure of the Govern
ment after ten years from the date of
their issue, and bearing interest pay
able quarterly in coin ut the rate of
per cent. per annum.
Bidders whose proposals are accepted
will be required to pay 20 per cent. in
gold coin or gold certificates upon the
amounts of their bids as soon as they re-
ceive notice of the acceptance of such
bids, and to pay in like coin or certificates
an additional 20 per cent. at the expira-
ton 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 acceptance or at
any time when an installment is pay
able. The first payment, however, of not
less than 20 per cent. must be made when
the bidder receives notice of the accept
ance of his proposal.
"The denominations of the bonds will
be $50 and upward, and bidders will, in
their proposals, state the denominations
desired, whether registered or coupon,
the price which the bidder proposes to
pay, the place where il is desired that
the bonds shall be delivered, and the
office. whether that of the Treasurer of
the United States or an assistant treas
urer 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 Feb. 1, 1894,
in order to make the proposed issue uni
form as to date with the existing is
sues, but interest thereon will begin Nov.
/, 1894, and bidders will be required to
pay accrued interest at the rate of 5
per cent. on the face value of their bonds
from Nov. 1 to the date or dates of pay
ment. The total issue of bonds, in pur-
suance of this notice, will not exceed the
sum of $50,0O0,OOO.
'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 Treas
ury, Washington, ID. c., and should be
distinctly marked: Proposals, purchase
of per cent. bonds Blank forms for
proposals may be had on application to
the Secretary of the Treasury.
-. G.. CARLISLE,
Secretary of the Treasury"
The cash balance in the treasury Tues
day was $1O3,75S,9S6; gold reserve,
So, ,001, ,106.