The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1898-06-24
THE NEW BONDS.
Secretary Gage of the Treasury Explains
About Them.

Secretary uage OF Inc treasury Explains
About Them.
Treasury Department., Office of the
Secretary. Washington, d. c., June
Ii, 1898.
The secretary of the treasury in
vites subscriptions from the people OF
the United States for $500, 900, 900 OF
the bonds Of the per cent loan au
thoriZed by the act OF congress to pro
vide ways and means to provide wal
expenditures. Subscriptions will be
received at par for period of thirty
two days, and will be issued in both
coupon and registered form, the cou.
pom bonds in Recommendations Of 500,
800, $500 and 81, 900. and the register.
ed bonds in denominations OF $40, 800,
$500, 81, 900, $1,000 and $4,000. They
will be dated August 1st, 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.
These bonds will bear interest at
the rate of per cent per annum, pay
able 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 on the registered
bonds will be paid by the 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 in
dlViduals shall be first accepted, and
the subscriptions Of the lowest
amounts shall be first allotted. In
accordance with that provision allOt'
ments to all Individual subscribers
will be made before any bonds will be
allotted to others 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. II the tota
sum subscribed for in amounts of $500
or less should exceed 5000, 900, 900 the
allotments will be made according to
the priority Of the receipt of the sub
scriptions.
Allotments on subscriptions for over
$500 will not be made until after the
subscription closes, July 18th, and
will then be made inversely accord.
ing to the size of the subscription, the
smallest subscription being first allot.
Ted, then the next in size next. and
so on, preference being given to indi-
vidual subscriptions. Persons sub.
scribing for more than $500 must send
in cash or certified checks to the
amount of 2 per cent of the sum sub
scribed for, such deposit to constitute
a partial payment, and to be forfeited
to the United States on the event Of
failure on the subscribers part to
make full payment for his subscrip
tion, 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 absorb
tion of funds into the treasury, with
q 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 in
stallments of 20 per cent, taking the
first instalment within ten days after
the notice Of the allotment, and the
balance of -four equal intervals OF
forty days each, in four installments
each of 20 per cent of the bonds allot'
ted. Delivery of bonds will be made
in lnstallments as payment for them
is received, and payment must in all
cases be made in full as the bonds are
taken. The 2 per cent deposit will
apply on the final installment. Any
subscriber may pay for the whole
amount allotted him within ten days
from the date of the notice Of his al
lotment. Interest will be adjusted
from the time of the actual payment,
whether paid in one sum or in install
mentS as permitted. Separate sub
scriptiops from one individual, al.
though 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 Wash.
ington, 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 or.
ders and bank checks so received will
be forwarded for collection by the de.
partment, and as soon as returns are
obtained the subscriber will be credit
ed with the amount Of his subscrip-
tion as of the date of collection. The
secretary will also receive in payment