Middlebury register. (Middlebury, Vt.) 1886-1937, 1898-06-24
THE NEW BOND ISSUE.
SECRETARY CAGES OFFICIAL NOTl-
FlCATlON TO THE PEOPLE.

| l uer GATE OF June 10 secretary OF the
Treasury Gage sent out the following
circular letter for publication:
The secretary of the treasury invites
subscriptions from the people of the
United States for S200,000,000 of the
bonds of the per cent loan authorized
by the act of congress to provide ways
and means to meet war expenditures.
Subscriptions will be received at par
for period of thrty-twO days, the sub
scription being open from this date to 3
o'clock p. m. on the l4th day Of July,
1898. The bonds will be issued in both
coupon and registered form, the coupon
bonds in denominations of $40, 500,
$500, and $1,000, and the registered
bonds in denominations of $40, 500,
$500, 81 900, $1,000, 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 l, 1918.
The bonds will bear interest at the rate
of per cent per annum, payable quar-
terly; 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
registered bonds will 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 pro-
vision allOtments to all individual sub
scribers will be made before any bords
will be allotted to other than individuals.
All Individual subscriptions for $500 or
less will be allotted 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
5000, 100000 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 H., and will
then be made inversely according to the
size of the subscription, the smallest
subscription being first allotted, then the
next, and so on, preference being given
to individual subscriptions. Persons
subscribing for more than $500 must
send in cash or certified checks to the
amount of ? per cent of the sum subscrib-
ed for, such deposit to constitute a par
tial payment, and to be forfeited to the
United States in the event of failure on
the subscribers part to make full pay
ment for his subscription, 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 a too rapid absorp-
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 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 forty days each, In four
instalments each of 20 per cent of the
bonds allotted. Delivery of bonds will
be made in installment as payments for
them is received, and payment must in
all cases be made in full as the bonds are
taken. The , per cent deposit will APP
ply on the final installment. Any sub
scrjber may pay for the whole amount
allotted him within ten days from the
date of the notice of his allotment. In
terest will be adjusted from the time OF
the actual payment, whether paid in one
sum or in installments as permitted
Separate subscriptions from one individ-
ual, although made from time to time,
will be aggregated and considered as one
subscription for this issue of bonds.
The secretary of the treasury will
receive in payment for the bonds post
Office money orders payable at Washing
ton, D. c., and checks, bank drafts, and
express money orders collectible in the
cities of New York, Boston, Phila'
delphia, Baltimore, Washington, Cincin-
natl, Chicago, st. Louis, New Orleans
and San Francisco. All 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 will be forwarded for collection
by the department, and as soon as re-
turns are obtained the subscriber will be
credited with the amount of his subscrip-
ton 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 aboYe-named
cities. These certificates of deposit may
be obtained from any assistant treasurer
= in exchange for gold coin, gold certl-
, ficates, standard silver dollars, silver
] certificates. United States notes, treasury
, notes of 1880, and national bank notes
/ ana the subscriber will be credited Will
/ the amount of his subscription as of the
date of the certificate Of deposit. The
secretary will also receive currency
sent by registered mail or by express
direct TO the treasury department.
For the mutual convenience of the
, subscribers and the department, a blank
form of letter TO accompany remlttance'
has been prepared, and it may be obtain
ed at the offices of national and state
banks generally, at the several sub
+ treasures of the United States. at any
money-order post-o1ice, and at any eX