Daily press. [volume] (Newport News, Va.) 1896-current, 1898-06-14
WAR REVENUE BILL SIGNED.
Secretary Gage Issues u Statement as
to the Proposed Bond Issue.
.. (Hy YelegraDh

/
| to the Proposed Bond Issue
(by Telegraph)
WASHINGTON, June 13.-The Presi-
dent signed the war revenue bill this
afternoon at 3:o1 o'clock. -
| WASHINGTON. June 13-Immeai-
a,eiy upon receipt Of Information from
me White House that the war revenue
bill had been signed BY the President
! Secretary Gage today issued the f,l-
lowing circular explaining to the pub
ic the proposed bond issue:
| TREASURY DEPARTMENT.
4 OFFICE OF THE SECRETARY,
Washington, d. c.. June IS. 1898
The Secretary of the Treasury in
vites subscriptions from the people of
the United States for s2O0, GEO 600 OF the
bonds of the per cent. loan authorized
by the act of Congress approved June
-. 1898. Subscriptions will be received
at par for Il period OF thirty-four days,
the subscription being open from this
date to O'clock p. NJ. on the 14th day
of July. 1898. The bonds with be issued
IN both coupon and registered form,
| the coupon bonds IN denominations OF
$50. 800. $500 and $1,000 and the regis
tered bonds IN denominations of $50.
| $780, $500. 81 900. $4,000 and 100000 They
| viii be dated August l. 1898. and by
! their terms will be redeemabe In coin
at the pleasure of the United States
after 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 annutn, payab BILE
quarterly: the interest on the coupon
bonds VIII be paid by means OF cou-
rons. to be detached from the bonds as
! the interest becomes due. ana the in
| tercst on the registered bonds will be
paid by checks drawn to the order of
the payees. and mailed to their ad-
| dresses.
The law authorizing this Issue OF
| bonds 1rnvi6aS thar a1loftirn ao}d
| bonds the several Subscriptions of in
! dividuala shall be first accepted and
the subscriptions OF the lowest amounts
shall be first allotted. In accordance
with that provision allotments to all In
tividual subscribers Will be made be-
fore any bonds will be allotted to other
| than Individuals All Individual sub
| .;criptions for $500 or less will be allot-
| ted in full as they are received, and
such subscriptions must be paid in full
ut the time the subscription Is made. If
| the total sum subscribed for in
amounts OF $500 or less should exceed
SOC. 900 the allotments Will be made
| according to the priority Of the re-
| 2eipt of the subscriptions.
| Allotments on subscriptions for over
$500 will not be made until after the
subscription closes, July 14th, and will
then be made inversely according to
| the size Of the subscription. the small
est subscription being first allotted,
| then the next in size 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 two
! 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 part of the subscriber to make full
payment for his subscription, accord
| ing to the terms Of the circular. Al
lotments 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 indus
| try. and commerce. any subscriber for
! more than $500 Will be permitted to take
his allotment Of bonds In instalments
af 20 per cent, taking the first install
| ment within ten days after the notice
Of the allotment. and the balance at
four equal intervals OF forty days
zach. in four instruments each OF 20
Ger cent. of the bonds allotted. until
delivery of bonds are taken. Any sub
scriber may pay for the whole amount
allotted him within ten days from the
late of the notice OF his allotment
Interest viii be adjusted from the time
| II the actual payment, whether paid
In one sum or in instruments as per
| mitted. Separate subscriptions from
one individual. although made from
| time to time VIII be aggregated and
| considered as one subscription.
| The Secretary of the Treasury Will
receive in payment for the bonds post
! oi!ice money orders payable at Wash
in~tnn. D. G., and checks. bank drafts
and express money orders collectible
IN the cities Of New York. Boston.
Philadelphia, Baltimore. Washington.
Cincinnati, 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
rs soon rs returns are obtained the
| subscriber will be credited with the
| amount of his subscription as of the
| date Of collection. The secretary will
also receive in payment Of the bonds
certificates Of deposit issued by the as
states in tine above named cities
These certificates Of deposit may be OBJ
tanned from any as.;-stant treasurer In
exchange for gold coin. gold certil-
"atss standard silver dolasc, silver
certificates. United States notes. treass
urv notes Of 1890. and national bank
notes; and the subscriber will be cred
| tied With the amount of his subscrip-
sion as OF the date the certificate Of
deposit The secretary will also re-
ceiva currency sent by registered mail
" by express direct to the treasury de-
| Dartment. .
For the mutual convenience Of the
subscribers and the department.
blank form Of letter to accompany
! remttances has been prepared. and 1t
| nay be obtained at the offices Of ma
| ional and state banks generally. at the
| rernral snb-trea surias Of the United
! States: at any money order postoffice,
| ard at any EXPRESS office.
! The bonds Will be dated August 1.
1898 and they Will be delivered to sub
| -cribers free Of enpanse for transporta-
| ion as soon after the date az nnssible
The bonds Will he accompa nied by q
heck for the amount Of the interest
luc the subscribers from the date OF
is navment to August I. 1908.
Remittanrcs and other communica.
'i"ns relative to this loan should he
addressed to the Secretary Of the
Treasury. division Of loans and curren-
| ". WASHINGTON. y. O..
All subscriptions must be received at