The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-14
BOND-.ISSUE.
Fifty Millions to Maintain the
Gold Reserve.


wAsHIxGIoS, Nov. l4.-Secretary Car
Isle, late yesterday afternoon, as had been
anticipated for several days, issued his
call for bids for tJO,O0),0OO 8 per cent
l0-year bonds. interest 10 be paid in coin,
which Is Interpreted TO mean gold. The
only material changes made in the present
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.
II Is confidently expected no the treasury
department that an amount Will be re-
allied considerably In excess of that re-
ceivod from the February issue. This ex'
pectation is based upon the fact that there
are exceptionally large amounts OF money
now lying idle and seeking investments In
the money centers of the country, and upon
the further fact that the February issue Is
now quoted at sl1s.bO. or about per cent
above the price which would yield 3per
cent.
From the last issue there was realized
ebS 600, 9l7. .68. and of this amount s52, $50
26424 was i'm gold coin, $3.50, 420 in gold
certificates and s233.39 in other money
which the sub treasures were compelled
to take I'm making change. While these
amounts were actually paid into the treas
ury in gold or its equivalent, very con-
siderable amount of gold was withdrawn
from the subtreasuries for the express
purpose OF using IL again In paying
for the bonds The exact amount with
drawn cannot be ascertained. but the best
Judgment obtainable Is that It approx
mated sl5,00t0c0
With a view of more exact estimate OF
the estimates which may be withdrawn
between now and the settlement of oil ao-
counts under the call. the sub-treasuries
will from this date keep record of all de-
poslts of legal tenders made in exchange
for gold and the names of the firms or
persons making them.
This Call For bids.
The following is the secretarys circular
calling for bids:
TREASURY DEPARTMENT,
wAsHISGToS, Nov. l3 (
BY virtue of the authority contained 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 pro-
posals will be received at the treasury depart
ment, Office Of the secretary, until IL o'clock,
noon. on Nov. "a, 1894, for United States 8 per
cent bonds, in either registered OF coupon
form, dated Feb. 1, 1924, redeemable
IN coin, at the pleasure of the govern
ment after 10 years from the date
of their issue. and bearing interest, pay
able quarterly. in coin, at the rate of bper
eentum per annum. Bidders whosy proposals
ara accepted will be required TO pay 20 per
cent in gold coin, OF gold certificates, upon the
amounts OF their bids ~ soon az they receive
notice OF the acceptance OF such bids and to
pAy in like coin or certificates an additional 20
per cent at the expiration Of each 10 days
thereafter until the whole is paid, but they
vrAy at their own option pay the entire amount
of their bids when notified of acceptance or ~
any time when an nstailment IL payable. Tho
first payment. howsyer, of not less than 20
per cent, must be made when the bidder re-
ceives notice OF the acceptance OF his proposal
The deaomnaticns OF the bonds will be $50
and upwards, and bidders will. In their pro.
posals, state the denominations desired,
whether registered or coupon, the price which
the bidder proposes to pay, the place where it
u desired that the bonds shall be delivered,
and the ONCE. whether that of the treasurer Of
the United states or an assistant treasurer Of
the United States, where IL will be most con
venient for the bidder TO depo sit the amounts
Of his payments.
The bonds will be dated Feb. 1, 1894, in order
70 make the proposed issue uniform IA to date
With the existing issue, but interest thereon
will begin Nov. !. 1894, and bidders will be re-
uuired TO pay acc 7led interest at the rate of 5
per cent on the face value Of their bonds from
Nov. l to the date or dates of payment.
The total issue Of bonds in pursuance OF this
notice, will not exceed the sum Of s5O,0JO0o0.
The secretary OF the treasury hereby ex-
pressly reserves the right TO reject any OF all
bids.
All proposals should be addressed to the
Secretary OF the Treasury, Washington, and
should be distinctly marked proposals for the
purchase Of per cent bonds" Blank pro-
posals may be had on application to the secrs-
tary of the treasury.
j. q. CARLISLE,
Secretary OF the Treasu-~