The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-06-22
RUSH FOR BONDS.
A Steady Stream of Investors
of Small Amounts
Is Kept Up at the Bank of To-
peka.
THE CASH is SAVINGS.
Money in Circulation Will Not
Be Greatly Reduced.
Old Stockings and Like DEPOSIT
tories Being Emptied.


is the first sentence of the circular is
! sued June 10 by L. J. Gage, secretary
! of the treasury.
The circular might just as well have
invited twice that much or more for the
rush to secure the bonds has been like
an invitation bicycle race. The rush to
secure the bonds has not been confined
to moneyed people either. The sub
scriptions are received at the Bank of
Topeka and since the circular was is
sued Mr.. ]. W. Thurston has been busy
explaining different points and in hav-
ing the blanks properly filled out
Subscriptions will be received at par
for period of 80 days, the subscrip-
ton being open till O'Clock p. m. on
the 14th day of July, 1898. The bonds
will be issued in both coupon and reg
istered form, the coupon bonds in de-
nominations of $40. 500, $500, and ST.
600, and the registered bonds in denom-
nations of $40. 800. $500, 81 900, So, 900,
and $4,000. They will be dated August
/, 1898, and, by their terms, will be re-
deemable in coin at the pleasure of the
United States after ten years from the
date of their ISSUE and due and PAYABLE
August 1, 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 coupons,
TO be detached from the bonds as the
interest becomes due, and the interest
checks drawn to the order of the pay
ees, and mailed to their addresses.
The subscriptions for bonds of $500
and less must be accompanied by the
money but on those over $500 but 2 per
cent of the amount subscribed for has
to accompany the subscription blank
The following is the blank to be filed
SUBSCRIPTION FOR $500 OR LESS.
Hon L. J. Gage. Secretary of the
Treasury.
Sir:
I hereby subscribe for ...... dol
lars &......) Of the ........ Coupon or
registered) ...... bonds Of the three per
cent loan authorized by the Act of
to meet war expenditures, and inclose
herewith :..---.--- to pay for the
same, subject to the provisions of Cir
cular No: 101, dated June Is, 1888, is
sued by the Treasury Department.
When the bonds are ready, please
forward to the following address:
Name .-....--.- Street and No, ......
CITY or Town, .......... County
The blanks can be made out on a
typewriter following the above form
1T looks as If this issue would go
rapidly" said J. w. Thurston. 1.-The
people take it as a safe and sure in
Vestment and with the subscriptions
down to $40 it is within the reach of
every one. 1t will be more like a pop
ular loan than a bond issue as small
amounts will receive first recognition"
come in rapidly but as soon as an in
surance company offered to take sew
eral millions then the people 1ocked to
the bank and an average of 80 SubScrip-
lions a day has been received besides
many times that number OF persons
have made enquiries regarding the way
to subscribe and send money.
The majority of the people who have
been subscribing for the bonds are peo-
pie who are not classed among the
wealthy or the independent but the
sub
a safe investment even at a low in
terest. The money sent to the govern
ment will hardly decrease the amount
in circulation. One man who was
about to purchase $500 worth of bonds
was accosted by a friend.
why. do you want to invest your
money in 8 per cent bondS?''
Well, it's safe investment and per
cent is not bad"
But it takes your money out Of cir
cuiation."
mo it doesn't"
''Why nOt2''
Because just dug this up"
A business man, who failed and who
was supposed to have lost his all, step
ped into the bank and deposited so cold
hard twenty dollar gold pieces on the
counter and asked for New York
draft.
Say honey" said an old colored
aunty with a red bandanna in her hand.
sis dis here bond business a sure way
OBJ keeping my money!"
AFTER DelnS assured InaC uncle sam
was trustworthy she united one corner
of the handkerchief and took out $40 in
silver.
dis is my aig money. Ise been SELL
ing aigS for long time ter save up a
little. Now Ise gwine ter let Uncle Sam
borrow it so dat de soldiers kin have a
new pair oh socks piece
A young society girl wished to invest |
$40 and a young husband who had saw
ed up a couple of hundred for a trip |
to the mountains thought that it would |
last longer in bonds than summer out |
ings.
So it is Uncle Sam gets the egg |
money, the pin money and the summer |
trip money.
The bonds are a popular investment |
because besides being safe they are |
good security for loans and all the time !
they are drawing 8 per cent. At the |
beginning of the war the old fourS,
which mature in 1907 were quoted at /
$40 and the new tours which mature |
in 1925 were quoted at 1924. The first |
being at a 10 per cent and the second at /
a % per cent premium. When the war
started both dropped and as quickly
started up again. The new war bonds |
will have more or less of a premium !,
attached to them as soon as the sale
of the issue closes.
One man with long, unkempt hair, |
his trousers stuck in his boots and his |
hat down over his eyes stepped in the
door of the bank and looked furtively
around.
81 want to subscribe for some bonds"
he said, but l don't want any of my |
neighbors to find it out. They would |
think 1 was wealthy if they heard was /
buying bonds" He filled out the sub |
scription blank and paid his money
over the counter for a draft.
There is a steady stream of people all
day long who wish to invest and it does
not look as though hard times was a. 1