The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-06-18
THE BOND ISSUE.
Secretary Gage Issues n Circular IN
wiling the People 10 Duy sat
Par for ~ Days.

Washington, June 14.-Immediatel
upon receipt of the information from
the white house that the war revenue
bill had been signed by the president.
Secretary Gage issued the following
circular explaining to the public the
proposed bond issue:
Treasury Department. ONCE OF the
Secretary. Washington. ID. c., June I3. 1928.
The secretary OF the treasury invites sub
scriptions from the people OF the United
States for s2oo.o00ooo OF the bonds OF the
three per cent. loan authorized by the act
/ OF congress approved June IL, 1898 Sub
scriptions will be received at par for
period or 30 days. the subscription being
open from this date 10 three O'Clock p. IN.
on the l4th day or July. 1898. The bonds VIII
be issued In both coupon and registered
form, the coupon bonds In denominations OF
$50. 500. $500 and $1,000. and the registered
bonds In denominations OF 800 500. $500.
$1,000 5000 and $4,000. They will be dated
August 1, 1898. and by their terms will be
redeemahle In coin at the pleasure Of the
United States after ten years from the
date OF their Issue and due and payable
August |, 1898.
The bonds will bear interest at the rate
OF three per cent per annum. payable quar-
terly; the interest on the coupon bonds will
be paid by means OF coupons. TO be de-
tached from the bonds as the interest be-
comes due, and the interest on the regis
tered bonds VIII be paid by checks drawn
TO the order OF the payees. and mailed TO
their addresses.
THE law authorizing this issue OF bonds
provides that In allotting said bonds the
several subscriptions OF individuals shall
be first accepted. and the subscriptions OF
the lowest amounts shall be first allotted.
In accordance with that provision allot-
ments to all individual subscribers Will be
made before any bonds will he allotted TO
other than individuals. All Individual SUBJ
scriptions for $500 or less will be allotted
in full as they are received. and such SUBJ
scriptions must be paid In full at the time
the subscription Is made. IL the total sum
subscribed for In amounts or $500 or less
should exceed $500 100000. the allotments
VIII be made according 10 the priority OF
the receipts OF the subscriptions
I'm order 10 avoid too rapid absorption
OF funds into the treasury. with possible
consequent evil effect on Industry and COM
merce, any subscriber for more than 5000
Will be permitted 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 and the balance
at four equal intervals OF 40 days each, In
four installments each OF 20 per cent. Of
the bonds allotted. Delivery or 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 two per cent deposit will ap-
ply on the final installment Any sub
scriber may pay for the whole amount al
lotted him within ten days from the date
OF the notice OF his allotment. Interest will
be adjusted from the time OF the actual
payment whether paid In one sum or In In
stallments az permitted. Separate sub
scriptions from one individual, although
made from time 10 time. will be aggregated
and considered as one subscription.
THE secretary OF the treasury will re-
celve in payment for the bonds post office
money orders payable at Washington, ID.
c., and checks. bank drafts. and express
money orders collectble IN the cities OF
New York, Boston, Philadelphia, Balti-
more. Washington, Cincinnati. Chicago, ST.
Louis. New Orleans and San Francisco.
Al money orders and bank drafts must be
drawn In favor of the treasurer OF the
United States. The money orders and bank
checks so received VIII be forwarded for
collection by the department, and as soon
as returns are obtained the subscriber will
be credited with the amount OF his SUBJ
scription as OF the date OF collection The
secretary will also receive In payment for
the bonds certificates OF deposit issued by
the assistant treasurers OF the United
States In the above-named cities These
certificates Of deposit may be obtained from
any assistant treasurer Ia exchange for
gold coin, gold certificates. standard silver
dollars, silver certificates, United States
notes, treasury notes OF 1890, and national
tied with the amount OF his subscription .
OF the date OF the certificate OF deposit. The
secretary Will also receive currency sent
by registered mail or by express direct 70
the treasury department
For the mutual convenience OF the sub
scribers and the department blank form
81 letter to accompany remittances has
been prepared, and II may be obtained at
the Offices OF national and state banks gem
orally, at the several sub-treasuries OF the
United States.
THE bonds will be dated August /. $685.
and they will be delivered to subscribers
free OF expense for transportation as soon
after that date as possible. The bonds viii
be accompanied by a check for the amount
OF interest due the subscriber from the date
OF his payment TO August /. 1898.
"All remittances and other communion
lions relative TO this loan should be adj
dressed TO the Secretary OF the Treasury,
Division OF Loans and Currency. Washing
ton, ID. G..
"All subscriptions must be received al the
treasury department, Washington, u. c..
not later than three o'clock p. m, Wednes-
day. July IL. 1898 No subscriptions re-
ceived after that date. and hour viii be con-
sidered.
"(slgneO L. ]. GAGE. Secretary"