The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-06-14
THE PROPOSED ISSUE
or Bonds Under the Recent War
Revenue Bill
IS EXPLAINED BY SECRETARY GAGE
In a Circular Inviting Subscriptions
for $2OO,000,000
S EXPLAINED BY SECRETARY GAGE
FROM THE PEOPLE OF UNITED
states of the Bonds of the Per Cent
Loan Authorized by Congress.
subscriptions Now Open.


signed by the president. Secretary Gage
issued today the following circular ex-
| planning to the public the proposed bond
issue
Treasury Department. Office OF the
Secretary, Washington, June IL, 1898 The
secretary OF the treasury invites subscrip-
| tons from the people of the United States
for 5000 900, 900 of the bonds of the per
| cent loan authorized by act OF congress,
approved June 10. 1898. subscriptions viii
be received at par for a period of thirty
two Gays, the subscription being open from
| this date TO o'clock p N. on the l4th
| OF July. 1898.
! The bonds will be issued in both coupons
or registered form, the coupon bonds in
denominations Of $40. 500, $500 and 5000,
and the registered bonds in denominations
of $50, 800, $500, $1,000 $4,000 and $4,000.
They will be dated August L. 1898, and by
their terms will be redeemable in coin at
the pleasure OF the United States after ten
years from the date OF their issue, and
due and payable August /, 1918.
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 coupons to be
detached from the bonds as the interest
becomes due. and the interest on the reg
| istered bonds will be paid by checks drawn
TO the order Of the payees, and mailed to
their address.
The law authorizing this issue of bonds
provides that in allotting said bonds the
| several subscriptions of individuals shall
be first allotted.
In accordance with that provision, al
lotments to all individual subscribers will
be made before any bonds will be allotted
TO other than individuals
All individual subscriptions for $500 or
less will be allotted in full as they are re-
! ceived and such subscriptions must be paid
in full at the time the subscription is made.
If the total sum subscribed for in amounts
of 5000 or less would exceed So 1000 900, the
allotments Will be made according to the
| priority of the receipt of the subscriptions
| Allotments OF subscriptions for over
$500 will be made until after subscription
closes July II, and then will be made
lnqersely according 10 the size of the
| subscription. the smallest substitution be-
ing first allotted, then the next In sizo
next and 50 on. preference being given 10
individual subscriptions
| PERSONS subscribing for more than $500
must send in cash or certified checks In
The amount of per cent OF the sum sub
scrloed for such deposit to constitute n
partial payment and 10 be forfeited to
the United States in the event of failure
OF the subscribers part to make full nav
ment Tor his subscription. according TO the
terms of the circular
Allotments to subscribers for more tina,
SSoo VIII be made as soon as possible
after the subscription closes.
In order to avoid too rapid absorp
tion OF funds TO the treasury with pos
sinie consequent evil effect on industrv
una commerce the subscribers for more
lhan 5000 will be permitted to take his
aliotinent OF bonds in installments of 90
per cent. taking the first allotment within
rue nrst ten days after the notice of al
,otnlenI ana the balance at four equal
intervals OF forty days each in four in.
stallments each of 20 per cent of the bonds
allotted 'Hs JULIUS
Delivery of bonds will be made IN in
slal'iehtS az payment for Them are re.
eenen ana payment must in all cases be
mace IN tnli as the bonds are taken.
ire 2 per cent deposit will anolv an
the final installment. ANY subscribe MN om
pay for the whole amount allotted hin,
WITHIN ten days from the date of the notina
OF his allotment. -'''''e
interest will be adjusted from tho tim.
OF the actual payment. whether paid in
que sum or in installments as permitted
81 p subscriptions from one Individual.
although made from time TO time >r,,, ~
agsreSated and considered as ona sub
scriptipn. sun
Inc secretary OF the Treasury will re-
celVe IN payment for the bonds postoffica
money orders PAYABLE at Washington. D
w., anu cnechs' rank drafts and express
money orders. collectable in the cities ~
New York Boston, Philadelphia, palt1.
more washington, Cincinnati Chicapo c,
LOUIS New Orleans and San Francisco
Al money orders ard bank drafts must
ne uraWn III favor OF the treasurer of tba
Nhne" states The money orders and
nank checks so received will la forw,rdaJ
Tor collection by the department md as
soon as returns are obtained the subscribs
or wiz ne credited with the amount NJ h;s
SUBSCRIPTION as OF the date of collection,
me secretary will also receiv, In nav
n.vu' ,or uon1s' certificates of deposit is
sued by the assistant treasures n, ~
} United States in the above namca ci,i ,u'
intse certificates OF deposits mnv no oh-
FAMED from any assistant treasurer in ev.
} ehange for gold coin, gold certiGe,tes
standard silver dollars. silver Certificates
onl'eu StNes notes, treasury notes of 1sao
anu Natf"n"i pank notes and the subscriber
VIII be accredited with the amount nj Ms
subscription. VI ms
J me secretary will also receive c,r.
rehcy by registered mail or by express di.
rect 10 the treasury department
FOR the mutual convenience of TIN, sph-
scroers and the department hl,nt,
I'm OF ieter 10 accompany remittancss
mas been prepared and IL NAV BIO ohtaineS
at the offices OF National aud STATE ban,, =
geneIally. at the several subireasurirs Ne
she United States at any money order
posIothee and at any express office.
rhe bonds will be dated August 1908
wv thsS VIII ha delivered to subscribers
Tree OF expense for TRANSFORMATION o., - I"i .
after that date ms possible The 49,
WI be accompanied by check for n :
amount OF interest due the subscribe ,roro
tha nate OF his payment to August ,soS
an remittances and other rommnn,.
Ion ION ,eia'vs TO this loan should he
aulressed to the secretary OF The traass
nry: division of loans and currency wash
inTtop. n c. "esh-
An suhscrintlons must no received n,
lne treasury department Washington N
e. not i.ter than o'clock y, M We'd.
resdsv. July 4 1875. "'U-
No subscriptions received s,tor 49,.
care and hour will h, considered
'T'snea'' ~. ]. Gage
Secretary