The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1898-06-22
POLITICAL.
United States Bonds.

United States for S2OO,cOO,0OO of the
bonds of the three per cent loan au
thorized by the act of Congress to pre-.
vide ways and means to meet war ex
penditures. Subscriptions will be re-
ceived at par for period of thirty-twc
days, the subscription being open from
this date to three o'clock p. NJ. on the
14th day of July. 1898. 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 pay able August l, 1918.
The bonds will bear interest at the
rate OF three per cent per annum, pay
able quarterly.
The law authorizing this issue of
bonds provides that in allotting said
bonds the several subs criptions of in
dividuals 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 a.
lotted in full as they are received, and
such subscriptions must be paid in full
at the time the subscription is made.
Ii the total sum subscribed for in
amounts of $500 or less should exceed
S200,000,000 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 ID, and will
thpn hn
the size of the subscription, the small
est subscription being first allotted,
then the next in size next, preference
being given to individual subscriptions.
Persons subscribing for more than $500
must send in cash or certified checks
to the amount of two per cent of the
sum subscribed for, such deposit to
constitute partial payment, and to be
forfeited to the United States in the
event Of failure on the subscribers
part to make full payment for his sub
scrlption, according to the terms of the
circular. Allotments to subscribers for
more than $500 will be made as soon as
possible after the subscription closes.
In order to avoid too rapid ABSORB.
ton of funds into the Treasury, with a |
possible consequent evil effect on in
dustry and commerce, any subscriber |
for more than $500 will be permitted to |
take his allotment of bonds in INSTALL |
ments OF twenty per cent, taking The |
first installment within ten days after
the notice of the allotment, and the |
balance at four equal intervals of forty
days each, in four installments each of |
twenty per cent of the bonds allotted.
Delivery of bonds will be made in in
stallments as payment for them is re-
celved, and payment must in all cases
be made in full as the bonds are taken.
The two per cent deposit will apply on
the final installment. Any subscriber
may pay for the whole amount allotted
him within ten days from the date of
notice of his allotment. Interest will
be adjusted from the time of the actual
payment, whether paid in one sum or
IN installments as permitted. Separate
subscriptions from one individual, al
though made from time to time, will be
aggregated and considered as one SUBJ
scription for this issue of bonds.
The bonds will be dated August l.
1898, and they will be forwarded to
subscribers at the address designated
oy them free of expense for transporta-
ion as soon after that date as possible.
All remittances and other cOmmuui-
cations relative to this loan should be {
addressed to the Secretary of the Treas
Try, Division of Loans and Currency,
d. G.
All subscriptions must be received
1t the Treasury Department, Washing
on, ID. O., not later than three O'Clock
,. NJ, Thursday, July IA, 1898. No l
INSCRIPTIONS received after that date t
md hour will be considered. 9
United States bonds are recognized '
8 the most secure and stable form of 8
litigation that investors can hold.
hey are attractive, not only because of Z
he absolute security offered but because :
here 10 at all times a public market for
hem on which holders can quickly sell;
nd they also offer the most desirable
orm of collateral if the holder wishes
0 secure a temporary loan. The fact
nat United States bonds are not SUBJ
ect to taxes OF any character-federal,
tate or municipal-is a valuable fea-
Ire of that form of investment. United
tates bonds are issued in both coupon
nd registered form.
COUPON BONDS.
A coupon bond is payable to the
carer. 1t may be bought and sold =
ithout formality as freely as any kind
I property and without Endorsements
any kind. Owing TO the freedom of
'anster, coupon bonds are usually pre-
erred by persons who expect to hold
hem but short time. Their disad-
antage for the person who wishes TO
,ake a permanent investment lies in
be danger that they might be lost or
tolen, in which case the loss to the
wner would be as complete as would
q the loss of bank note. The coupon
onds take their name from the method
y which interest is collected by the
older.
Printed on the same sheet with the
ond is series of coupons or small
ertifcates of interest due, which are
o designed that one is cut of at each
interest period. Each coupon bears
be number of the bond and shows the
nNA 81 ~ =