The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-14


SOL o'clock.
Immediately upon information from
the White House that the war revenue
bill had been signed by the president
Secretary Gage issued the following
circular explaining to the public the
proposed bond issue.
1.-THE secretary of the treasury in
vites subscriptions from the people OF
the United States for 5000, 600 OF the
bonds of the per cent loan authorized
by the act of congress, approved June
Is, 1898 Subscriptions will be received
at par for period of 80 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 form, the coupon
bonds in denominations of $40, 500,
$500, and 81, 900 and the registered bonds
in denominations of $50, 800, $1,000,
$4,000 and $4,000 They will be dated
Aug. 1, 1898, and by their terms will
be redeemable in coin at the pleasure
of the United States aften ten years
from the date of their issue and due
and payable Aug. 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 de-
tached from the bonds as the interest
becomes due and the interest 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 in
dividualS shall be first accepted, and
the subscriptions Of the lowest amounts
shall be first allotted.
'In accordance with that provision
allctments to all individual subscribers
will be made before any bonds will be
allotted to other than individuals. All
individual subscriptions for $500 or less
will be allotted in full as they are re-
ceived, 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 allottments will
be made according to priority Of the
receipt Of the subscriptions.
"Allotments on subscriptions for over
$500 will not be made until after the
subscription closes, July IA, 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, and so on, prefer
ences being given individual subscrip-
tons. Persons subscribing for more
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 SubScrip-
ton, according to terms Of the circular.
AllotnlertS to subscribers for mora than
$500 Will be made as soon as possible
after the subscription closes.
ALLOTMENTS IN INSTALLMENTS
In order to avoid too rapid absorp-
ton of funds into the treasury, with
a 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 install
ments of ~ per cent, taking the first
instalment within ten days after the
notice of the allotment and the balance
at four equal intervals of 40 days each,
in four instruments, each Of 20 per cent
of the bonds allotted.
Delivery of bonds will be made in
instruments as payments for them is
received, and payment must, in all
cases, be made in full as the bonds are
taken.
The 2 per cent deposit willslpply in
the final statement. Any subscriber
may pay for the whole amount allotted
him within ten days from the date of
the notice of his allotment Interest
will be adjusted from the time of the
actual payment, whether paid In one
sum or inStalments, as permitted. Sep
arate subscriptions from one individual,
although made from time to time, will
be aggregated and considered as one
subscription. Inc secretary of the
treasury will receive in payment for
the bonds postoffice money orders pay
able at Washington, D. c., and checks.
bank drafts and express money orders
collectible in the cities of New York,
Boston, Philadelphia. Baltimore, Gin
cinnati, Washington, Chicago, st.
Louis, New Orleans and San Fran
cisco
"All money orders and bank drafts
must be drawn in favor of the treas
Crer Of the United States The money
orders and bank checks so feceived will
be forwarded from collection by the de-
partment, and as soon as returns are
obtained, the subscriber will be cred
tied with the amount of his subscrip-
ton as of the date of collection. The
secretary viii also receive in payment
for the bonds certificate of deposit is
sued by the assistant treasurers of the
United States in the above named cit
les. These certificates of deposit may
be obtained from any assistant treas
urer in exchange for gold coin, gold
certificates standard silver dollars, sill
yer certificates, United States notes.
treasury notes of 1890, and national
bank notes; and the subscriber viii be
credited with the amount of his sub
scription as of the date of the certificate
OF denosit The secretary will also re-
ceive currency sent by registered mail
or by express direst to the treasury de-
partment.
For the mutual benefit of the sub
scribers and the department, blank
form Of letter to accompany remit
tances has been prepared, and it NAV
be obtained at the Office OF national and
state banks generally, at the several
treasures of the United States, at
any money order postoffice, and at any
express office.
The bonds will be dated August l.
1898, and they will be delivered to sub
scribers free of expense for transpor-
tation as soon after that date as DOS
sible. The bonds will be accompanied
by a check for the amount of the IL
terest due the subscriber from the date
of his payment to Aug. l, 1898.
'All remittances and other communi-
! cations relative to this loan should be
addressed to the secretary of the treas
ury, division of loans and currency
! Washington, d. c.
"All subscriptions must be received
ST the treasury department, Washing
| ton, d. c., not later than o'clock
D. M, Wednesday, July ID. 1898. No sub
scriptions received after that date AID
| hour will be considered.
Il. G.. GAGE, Secretary"
rhcT,c EpENzTEn HAcTE