The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-01-11
A POPULAR LOAN.
Secretary Carlisle Calls for Bids
on New Issue OF Bonds.
TEXT Of the Circular ISSUED Mt washinE-
ton - Feeling of Relief Comes 10
Political and Financial Circles
some Comparisons


some Comparisons.
Washington. Jan. 6.--At midnight
Secretary Carlisle prepared the follow
ing notice. which will be issued to-day:
Treasury Department. washington. Jan.
9. s96-Onice OF thu secretary: Notice II
hereby given that sealed proposals Will
| be received at the ONCE OF the secretary or
the treasury at Washington. ID. c.. until
| ~ o'clock noon on Wednesday, the fifth day
| OF February. 1896. for the purchase OF one
hundred million dollars tSio0. 0o0.00W OF
| United States four per cent. coupon or reg
4 istered bonds IN denominations OF fifty doll
lars (S5o) and muitiples OF that sum. as may
be desired by bidders. The right To reject
| any or all bids Is reserved.
''The bonds win be dated on the first day
| OF February, 1895. 6nd be payable In coin
| 50 years after that date. and VIII bear In
teresf at four per cent. per annum, payable
quarterly In coin. but all coupons maturing
/ on and before the first day or February.
1896. VIII be detached. and purchasers viii
/ be required 10 pay In United States
| gold coin or gold certificates for the bonds
awarded TO them. and all interest accrued
| thereon after the LIST day OF February. 1896
| up 10 the time OF application for delivery.
Payments for the bonds must be made
| AT the treasury OF the United States at
| Washington. ID. c.. or at tho United States
tubtreasuries at New York. Boston. Ihila-
ST. Louis or New Orleans, or they NAV he
made al San Francisco with exchange on
New York, and all bids must state what
denominations OF bonds are desired. and
whether coupon or registered. and at what
place they win DO paid for.
Payments may be made by installm-nts.
as follows: Twenty per cent. GO per cent?
upon receipt OF notice OF acceptance OF
bids, and 20 per cent go per cent? ar the
end OF each ten days thereafter; but all
-
amount at the date OF tho iirst installment.
ard those who have paid all installments
previously maturing may pay the whole
amount OF their bids at any time. not later
than the maturity OF the last installmcnt.
'"rhe bonds Will be ready for delivery on
OF before the 18th day OF February. 1890.
Notice Is further hereby given that II
the issue and sale OF additional OF diifes ent
form OF bond for the maintenance OF the
gold reserves shall DO authorized by law
before tho 9Th day OF February. 1896.
sealed proposals for the purchase OF such
bonds will also be received at the Same
time and place. and up 20 the same cate.
anu upon the same terms and conditions
herein set forth, and such bids v III be con-
sidered as well as the bits for the four per
cent. bonds herein mentioned.
~ O.. CAnTIsr.n,
Secretary CT the Treasury"
Differs from Previous Proposals.
Washington, Jan. ia feci.ng OF re-
lief II experienced IN political and
financial circles here over the fact that
the administration haF at last an
nounced it's position on the question OF
selling bonds. The tension for the
past ten days had been extreme.
The bond proposal iiycrs from oil the
three others that have gone before In
that it is alternative I'm character. Ii
opens the way for the acceptance of
bonds ON terms prescribed by congress,
should congress see fit TO set before
February 8. Under the clnuee reserv-
ing tho power to reject any or all bids
the administration can sift out from
the proposals should congress act be-
fore February whatever bids that
may be considered most favorable TO
the government, and should congress
not act then under the administers
tons popular loan proposition, those
proposals most favorable cnn also be
accepted and those not considered fa-
vorable rejected.
Thus, while inviting proposals for
$iO0,000.000 fourpcr cent. 3O-year bonds,
less than that amount may he accepted,
should the terms proposed be consid-
cred nnfnvorable. The bonds sold TO
The Morgan-Belmont syndicate are now
bringing in the open market 1i5 and
over, and the public is now given an
opportunity 10 determine the disputed
proposition whether a popular loan at
present market prices can be Heated
by the United States within the United
States.
Previous Bond Issues.
So far during this administration
three bond issues have been made, ug-
gregating Sl02. 1915. 400. for which $751;
100000 in gold was received.
These issues were made MS follows;
First issue Of s50000.oo0 OF Ave per cent.
ten-year bonds on January q. 1894 for
which s5S G32.2 95 In gold was realized: 4
second Issue OF yb0.000.O00 live per cent ten
year bonds on November H. 1894. for which |
SIS. 600 In gold was received: third issue /
Of SCI 2ls s9e Of four per cent. s0.ycnr bonds 1
20 the Morgan Belmont syndicate. for which /
g65. il0.24f IN gold was received These bonds \
were sold Mt slightly less than JOS and IN tho |
market arc now quoted at ll5 and over.