Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-06-14

inc PRESIDENT Affixed His Signature
at sos O'Clock Yesterday After
noon--Secretary Gage Has Pre-
pared a Circular Letter, Telling
How the Bonds Authorized in the
New Law May Be Secured-The
Persons Taking the Smallest
Amounts WILDE Served First.
Washington, June 13.-The war rev.
enue bill was brought to the White
House by a House messenger at 2:45
and was signed by the President at 3: 05
o'clock.
Washington, June 13.-Immediately
upon receipt of information from the
White House that the war revenue bill
had been signed by the President, Sec
rotary Gage to-day issued the following
circular explaining to the public the
proposed bond issue:
Washington, June 10, 1898.
The Secretary of the Treasury invites
subscriptions from the people of the
United States for $500, 000, 600 Sub
scriptions will be received at par for
a period of thirty-tWo days, the sub
scription being open from this date to
o'clock p. m. on the 14th day of July
1898. The bonds will be issued in both
coupon and registered from, the coupon
bonds in denominations of $40, $500,
$500 and $1,000, and the registered
bonds in denominations of $40, $500,
$500, $1,000, $1,000 and $4,000. They
will he dated August /, 1898 and by
their terms will be redeemable in coin
at the pleasure of the United Safes af-
ter 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 cou-
pons, to be detached from the bonds as
the interest becomes due and the inter
est 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 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 allot-
ted 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 600, 600. the allotnents will be
made according to the priority of the
receipt of the subscriptions.
Allotments on subscriptions over
$500 will not be made until after the
subscriptions closes, July 14th, and Will
then be made inversely according to the
size of the subscription, the smallest
subscription being first allotted, then
the next in size next, and so on, prefer
ence being given to individual subscrip-
tions.
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 deposit to
constitute a 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 SUBJ
scription, 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 absorp-
ton of funds into the treasury, with a
possible consequent eva effect on in
dustry and commerce, any subscriber
for more than $500 will be permitted
to take his allotment of bonds in in
stalments of 20 per cent, taking the
first instalment 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. De-
livery of bonds will be wade in install
ments as payment for them received
and payment must in ali cases be made
in full as the bonds are taken. The 2
per cent deposit will appN on the final
instalment. Any subscriber may pay
for the whole amount allotted him
within ten days from the date of the
notice of the allotment. Interest will
be adjusted from the time of the actual
payment, whether paid in one sum or in
instalments as permitted. Separate
subscriptions from one individual al
though 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,