The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-01-07
Subscriptions Invited for a
$1OO,OOO,OOO Popular Loan.
BONDS PAYABLE IN COIN
Will Run Thirty Years at 4 Per
Cent. Per Annum. as.z.s4
TEXT oFTHE OFFICIAL CIRCULAR
Purchasers Must Pay Gold--Gold Com
or Certificates viii beEAccepted
in Instalments--Bea Date
February |, 1896.

Washington, Jan. Speculation
concerning the amount and character
of the forthcoming bond issue was
set at rest last night when Secretary
Carlisle made public Il circular on the
subject. The loan will in effect be a
popular one and the circular, which
is dated January 6, gives notice that
the government will sell S100,000,00O
thirty-year 4 per cent, coupon or reg
iStered bonds dated February ]. 1895,
for which purchasers will be required
TO paw in gold coin or gold certificates.
The circular is as follows:
Treasury Department, Office Of the
Secretary,
Washington, y. c., Jan. 6. 1896.
Notice is hereby given that sealed
proposals will he received at the Of
flee of the Secretary of the Treasury,
at Washington, ID. c., until 12 o'clock
M, on Wednesday. the 5th day of Feb
ruary. 1896, for the purchase of one
hundred million dollars 100000, ,000)
of United States per cent. coupon or
registered bonds, IN denominations of
fifty dollars (S50l and multiples of
that sum, as may be desired by bid
ders.
The right to reject any or all bids Is
reserved
The bonds viii be dated ON the 1st
day of February, 1895, and he payable
in coin thirty years after that date,
and will bear interest at 4 per centnm
per annum, payable quarterly, in coin.
but all coupons maturing on or before
the 1st day Of February. 1896, will be
detached, and purchasers viii bc re-
qllired TO pay in United States gold
coin, or gold certificates, for the bonds
awarded TO them, and all interest ac-
crued thereon after the 1st day Of
February, 1896, up TO the time OF ap-
plication for delivery.
Payments for the bonds must be-
made at the Treasury Of the United
States. at Washington. ID. g.. or at
the United States sub-treasuries at
New York, Boston, Philadelphia. Pal
timore, Cincinnati, Chicago, st. Louis,
or New Orleans, or they may be made
at San Francisco with exchange on
New York, and all bids must state
what denomination of bonds are de-
sired, and whether coupon or regis
tered, and at what place they Will be
paid for.
Payments may be made by INSTALL
ments as follows: 20 per cent upon
receipt of notice of acceptance of bids,
and 20 per cent at the end Of each ten
days thereafter; butall accepted bidder
may pay the whole amount at the date
of the first instaliment, and those who
have paid all installments previously
maturing may pay the whole amount
of their bids at any time, not later
>sf kx lac 4x.1I
ment.
The bonds will be ready for delivery
on or before the 18th day of February,
1896.
Notice is further hereby given that
il the issue and sale Of an additional
or different form of bond for the main
tenance of the gold reserve shall be
authorized by the law before the 5th
day of February, 1896, sealed propo-
sails for the purchase of such bonds
will also be received at the same time
and place, and up to the same date,
and upon the same terms and condi-
tions herein set forth, and such bids
will be considered, as well as the bids
for the per cent. bonds herein men
toned.
fSigned) j. &. CARLISLE,
Secretary of the Treasury.
THE LARGEST ISSUE YET
This is the first issue by the present
administration of such a large amount
of bonds at one time, all the previous
issues having been for s5a,000,000
each. The circular also contains, it
will be seen, an intimation OF a possi-
BILE future issue of bonds should the
l.. n n II
ent form OF bond for the maintenance
of the gold reserve be authorized by
the law before February 5th.
It was almost midnight when Sec
rotary Carlisie's circular was made
public, too late an hour TO obtain the
opinions Of public men on the action
of the government or the prospect OF
the absorption of the bonds by the
people.
The main reason for dating the
bonds year back is said to be III order
TO give the public better opportuni-
oigve the public better opportunl-
ty TO Judge their market value by com
Barring them with the gold fours is-
sued at that time. so that their bids can
be made to conform with the market
value of those bonds on the 1st Of Feb
ruary.
The fact that the bonds will be is
sued in sums Of $50 and multiples
thereof, and be payable in installments
| is a feature which it is believed will
| make them be regarded with popular
favor.
SOMEWHAT A SURPRISE.
The announcement that bids for a
bond issue of 500, 900 had been
asked for was somewhat surprise to
the subordinates of the Department
as no intimation of his purpose had
been given To any one. lt IS quite