The record-union., 1898-06-14
The Measure Passed by Congress
Has Become a Law.
President Mckinley Attaches His Signature
to the Instrument.
Secretary Of the Treasury Gage Is
sues a Circular Explaining to
the Public the Conditions Under
Which Subscriptions to the New
Bond Issue Will be Received.

WASHINGTON, June 13.-The war
revenue bill was brought to the White
House by a House messenger at 1:25,
and was signed by the President at 3:O5
O'Clock.
THE NEW BOND ISSUE.
WASHINGTON, June 13.-Immedi-
ately upon receipt of the information
from the White House that the war
revenue bill had been signed by the
President, Secretary Gage to-day is
sued the following circular explaining
40 the public the proposed bond issue:
Treasury Department, Office of the
{ Secretary, Washington, ID. c., June
:, 13, 1898.
THE Secretary of the Treasury in
vites subscriptions from the people Of
the United States for $2O0,O00,9OO of
the bonds of the 3 per cent loan au-
thorized by Act of Congress, approved
June 13 1898. Subscriptions will be
received at par for a period of thirty
two days, the subscription being open
from this date to 3 o'clock p. m. on the
14th day of July 1898.
THE bonds will be issued in both
coupon and registered form. the coupon
{ bonds in denominations of $50, 500.
$500 and 81 ,OOO and the registered
bonds in denominations of $50, 500,
$500, 81 LOCO, 5000 and $4,000. They
will be dated August l. 1898, and by
the terms will be redeemable in coin at
the pleasure of the United States after
the date of their issue and due and pay
able August l, 1898.
The bonds Will bear interest at the
rate of per cent. per annum, payable
quarterly. The interest on the coupon
bonds will be paid by means of cou-
pons. to be detached from the bonds as
the interest becomes due. and the in
terest on the registered bonds will be
paid by checks drawn to the order of
the payees and mailed to their ad-
dresses.
THE law authorizing this issue of
bonds provides that in allotting said
bonds the several subscriptions of indi
viduals shall be first accepted, and the
subscriptions of the lowest amounts
shall be first allotted. In accordance
with that provision allotments to all
individual subscribers will be made be
fore any bonds will be allotted to other
than individuals. All individual sub
scriptions for $500 or less will be al
lotted in full as they are received. and
such subscriptions must be paid in full
at the time the subscription is made.
If the total sum subscribed for in
amounts of $500 or less should exceed
S2OOOO.OO0, the allotments Will be
made according to the priority of the
receipt of the subscriptions.
"Allotments on subscriptions for over
$500 will not be made until after the
subscription closes, July 14th, and will
then be made inversely according to
the size of the subscription, the small
est subscription being first allotted,
then the next in size and so on. prefer
ences being individual subscriptions.
Persons subscribing for more than
$500 must send in cash or certified
checks to the amount of = per cent.
of the sum subscribed for, such de-
posit to constitute a partial payment,
and to be forfeited to the United States
in the event of failure on the subscrib
er's part to make full payment for his
subscription. according to the terms of
the circular. Allotments to subscrib-
ers for more than $500 viii be made as
soon as possible after the subscription
closes.
I'm order to avoid a too rapid alb
sorption of funds into the treasury,
with a possible consequent evil effect
on industry and commerce, any sub
scribed for more than 500 will be per-
mitted to take his allotment of bonds
in installments of 20 per cent, taking
the first installment within ten days
after the notice of the allotment AMI
fhe balance at four equal intervals Of
forty days each. in four installments
each of 2O per cent. of the bonds al
1otted Delivery of bonds will be made
in installments as payment for them
is received. and payment must in all
cases be made in full as the bonds
are taken. The per cent. deposit
will apply in the final statement. Any
subscriber may pay for the whole
amount allotted him within ten days
from the date of the notice of his allot-
ment. Interest will be adjusted from
the time of the actual payment wheth-
er paid in one sum on it's installments,
as permitted. Separate subscriptions
from one individual. although made
from time to time, will be aggregated
and considered as one subscription.
The Secretary of the Treasury will
receive in payment for the bonds Post
Office money orders payable at Wash
ington, D. c., and checks, bank drafts.
and express money orders collectible
in the cities of New York. Boston,
Philadelphia. Baltimore. Washington.
Cincinnati. Chicago st. Louis. New Or
leans and Sen Francisco All money
orders and hank drafts must be drawn
in favor of the Treasurer of the United
States. The money orders and bank
checks so received will be forwarded
for collection by the department. and
as soon as returns are obtained the
subscriber will be credited with the