The evening times., 1898-06-15
RUSH TO BUY wAR BONDS.



Applications Pouring In ut the New
York -ssbtscssSry. =
New York. June l5.-There was a gr,at
rush for the new 3 per cent war bends
yesterday, and not half of the applicants
could be accommodated. through laci. OF
circulars and subscription blanks. Oni,'
about a thousand circulars and a like
number Of blanks were received by the
subtreasury. and after the supply ran
out Maurice L. Muhleman. the cashier.
improvised lot of blanks. with which
the receipt OF subscriptions was contin-
ued until the close of business.
Many demands were made for blanks.
but these were refused. A number of
persons said they would like to make
several $500 bids. so that they could be
assured of getting several thousand dol
lars worth. but they were refused. since
the Treasury circular specifically states
that individual subEcrfp ions shall be lin
tied to $500 and smaller amounts. and
that all persons desiring amounts larger
than this must risk getting them by al
lotment.
The bulk of the subscriptions received
yesterday were for $500 each. but there
were several for amounts as small as
S20 The total number of subscriptions
received was about 100. and several times
that number announced their intention
of making applications today. The BIDS
received at the subtreasury aggregated
between $4,000 and $4,000.
All Of these subscriptions had 10 Dc
paid in advance. although those applying
for more than $500 are required 10 pay
only per cent Of the value OF the bonds
at the time of the application. Certi-
fed checks for the per cent may De
sent to the Secresary OF the treasury.
but checks will not be received by the
subtreasury.
The money received for the $500 sub
scriptions draws interest at per cent
from the date of the payment. but TINS
is rot the case with the per cent de-
nosit received on account of allotment
Many persons tried to get the subtreas-
ury to receive checks for these z per
cent payments. but they were reluseo.
The bonds that are now being suoscriDet
for are 500 009, 600, and are ten-tWehi,
wear bonds-that Is, they are due IN TWEEN
ty years. but may be retired AT the en-,
of ten years. They will be issued III Doti
coupon and registered form, In denoiri!ia
tions of 500. 800 $500 and $l.0o Tor I'M
coupons. and in these same denomina
tious. as well as in S. 90 and $lo.Oo0 In reg
istered FORM They will be dated Angus
1. 1898, and are redeemable IN COM N
subscription closes on july IA, ana aiiot
ments to those subscribing for more thar
$500 will be made as soon as possible al
ter that date.
In the event of subscribers of more thai
$500 falling to make good the REMAINING
payrnents, the 2 per cent deposit Will d
forfeited to the United States.
There were numerous requests 1o
bonds at all of the big downtown banks
as well as at the savings banks through
out the city. The exact amount OF tnes'
subscriptions could not be ascertained
but they run up well into the millions
and they came mostly from depositors
who preferred to be relieved of the rou
tine duty of making personal subscrip
tions.
In addition to these subscriptions some
of the big banks admitted that they IN
tended to file applications for bonds IN
dependent of the National CITY Bank syn
dicate. which has offered to take the en-
as may be LEFT.
I, was stated that there are severa
smaller syndicates of banks, which decid
ed TO nut in bids for lesser amounts In
case. for one reason or another. the treas
ury Department should decide not TO nj
the big syndicate bid. The personnel OF
these smaller syndicates was not revealed
OF the big subscriptions maoe pS ihu'
yidual banks, the largest one 10 be made
public was that of the Chase Nationa
Bank for s3,0oo0O An officer of the BANK
said that this was more than they expect
ed to get but. thinking that the ioar
might be several times oversubscribed anc
that the larger bidders would not get as
much as they wanted. they thought 1t ad-
visable to put in. bid for larger amount
than they needed. Another large bid was
that of Zimmerman & Forshay, for Sl,'
900. 900.