The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-20
The SYNDICATE.
Offer to Those Who Wish to
Purchase New Bonds.
London Gets Hall OF Them-Evidence
That They Will Be in Demand.


Morgan bond syndicate has Just issued
their prospectus for the sale of the new
per cont bonds in coupon form Of $50, 500
and 1900, and registered form of $50, 800,
$1,000 and slo, 900 each.
The bonds are dated Feb. /, 1895. and
are payable at the treasury of the United
States after Feb. I, 1925, interest being
payable Feb /, May !, Aug. and Nov. /.
The syndicate's offer of sale reads thus:
On behalf of the syndicate we offer for sale
the bonds described as above, co., ,3l50 600 United
states per cent bonds. The price Is ll2t4 per
cent, on which l214 rer cent will be payable on
allotment. and the remaining 100 per cent on
or before March l, or upon bhe delivery Of the
bonds as provided below with interest at per
cent per annum from March 1.
The bonds will be delivered as soon as they
are prepared and executed by the treasury de-
partment. Purchasers desiring 10 complete
their payments before tho delivery Of the
ponds VIII be gwen negotiable receipts. Sub
scription lists wiz be opened at 10 n. m, Feb.
~, and will be closed without notice.
BIDS will be received by either OF the under
signed, and payments must be made TO J. p.
morgan q Co. In cash or by certified checks on
New York banks. The right is reserved by us
to reject any applications for allotments or
10 allot smaller amounts than applied for, and
to apportion allotmcnts between American
and European applicants in any way we may
deem best
At least one-hnif of the bonds will be allotted
In London on such terms and conditions as
may be provided for In the Jsayhon circular.
Our allotments viii be made within four days
hrom date by notice by mail to applicants.
j. p MORGAN Il Co.
~ AUGUST BELMONT & Co.
The London End Of IL.
A dispatch from London announces
that the bankers handling the new Amer
lean loan issued q prospectus yesterday
announcing that the amount of the nomi-
nal capital Is payable, both principal and
interest, in the United States, and is re-
deemable after 30 years. The prospectus
then proceeds:
'The bonds are issued under the au-
thority of the act of congress approved
Jan. IA, 1876, and in accordance with the
oct approved July Ia, 1870, as amended by
the act Of Jan. 30, 1871, and under the
terms OF section 800 OF the revised statutes
OF the United Statos by which the secre-
taryof the treasury may purchase coin
with any OF the bonds or notes of the
United States authorized by law, at such
rates and upon such terms as no may
deem most advantageous TO the public in
teresh
"The secretary of the treasury being of
the opinion that an emergency now exists
in which the public interests require that
coin should be purchased with bonds as
provided by the above mentioned acts. has
authorized the present issue. The bonds
are payable as to both principal and inter-
est In coin, aud will bear interest at per
cent per snnum, payable quarterly on
Feb. 1, May /, Aug. l and Nov In each
year. The principal and interest are ex-
cmpt from the payment of all taxes or
duties of the United States, as we'll as
from taxation in any form by or under
state, municipal or local authority
"Messrs. N. NJ Rothschild & Son and
j. s. Morgan 81 Co. will receive sub.
scriptions at their offices, but all pay
ments subsequent TO the issue OF scrip
must be made to Messrs. n NJ Rothschild
g. Son. The subscriptions will open Feb.
20 and will close on or before Feb. 81.
Fixing the Terms.
"The price will be ess7 per $1,000, pay
able Rl0 on application, e40 on the allot.
ment, eco on April 10, $50 on June II,
and a57 on July %, 1895. The scrip will
be issued furnished with coupon of
e3 5s. for every $1,000 Of nominal capital,
aud in the same proportion for every $500
and 500 of nominal capital.
"This coupon will be duo Aug 1 next
and will be payable at the office OF Messrs.
". M. Rothschild a. Son, but the coupons
on the dehnltive bonds will be payable In
the United States Payment In full may
be made under discount at the rate OF
per cent por annum on any Tuesday or
Friday after the scrip shall have been is
sued Applications must be nccom panied
by a deposit of el0 for every $1,000 Fall
ure to psy any installment will forfeit all
tho previous payments
The dehnltive bonds will be delivered
In London in exchange for scrip after the
payment OF tho last instnllment They
will be for el00, 1900 and $1,000, and will be
furnished with coupons payable quarterly
OH Feb. /, May /, Aug and Nov. l In
eat year, the first coupon being due Nov
I, 1895.
Registered bonds for 1900 and $500
may bo obtained by holders desiring to in
scribe their bonds. and United states
treasury checks for the dividends thereon
will be sent from Washington to che reg
lstered address Of the holder.
Plenty of TaIssra
IoNDoN, Feb 20--The Daily News, i'm
Ms financial article today, estimates that
e2,OO0 900 or e30OO,O0O sterling may be
taken off the market by the deposits. on
applications for the new American loan.
In It's financial article this morning The
Times says that the new American loan
was last quoted rs firm at 31l premium on
ths issss price Of ii3,s