Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1898-06-15
BOND ISSUE BIDS.
Secretary of the Treasury Gives
Instructions Regarding the
3 Per Cent. Loan

Washington. d. c., June 13-Immedi-
ately upon receipt Of the information
from the white house that the war reve-
nue. bill had been signed by the President,
Secretary Gage today issued the follow
ing circular explaining to the public the
proposed bond issue:
Treasury Department, Office of the Sec
rotary, Washington, ID. c., June 10, 1885,
The secretary of the treasury invites sub
scrlptlons from the people of the United
States for 5000, 100000 of the bonds of the
per cent loan authorized by the act Of
Congress approved June 13, 1893. Sub
scriptions VIII be received at par for
period of thirty-four days, the subscription
being open from this date to 3 o'clock p.
III. on the 14th day OF July, 1898. The
bonds will be issued in both coupon and
registered form, the coupon bonds in de-
and the registered bonds in denominations
Of $50, 500, $500, $1,000, $4,000 and $40, 600.
They Will be dated August l, 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.
The bonds will bear interest at the rate
or 3 per cent. per anRum, payable quarter
~, the interest on the coupon bonds will
be paid by means of coupons, to be de-
tached from the bonds as the interest be-
comes due, and the interest on the regis
tered 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 alloting said bonds the
several subscriptions Of individuals shall
be first accepted and the subscriptions for
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
other than individuals. All individual sub
scriptions for $500 or less will be allotted
in full as they are received, and such sub
scriptions must be paid in full at the time
the subscription is made. II the total sum
subscribed for IN amounts of $500 or less
should exceed $500, OOO,0 600 the ailOtments
will be made according to the priority of
the receipt of the subscriptions.
AllotmentS on subscriptions for over $500
will not be made until after the subscrlp-
ton closes, July IA, and Will then be made
inversely according to the size of the sub
scrfption, the smallest subscription being
first allotted, then the next in size next,
and so on, preference being given to lndl-
vidual subscriptions. Persons subscribing
for more than 500 must send in cash or
certified checks to the amount of per cent.
Of the sum subscribed for such deposit TO
constitute a partial payment, and to be Tor
feited to the United States in the event
of failure on the subscribers part to make
full payment for his subscription, accord
ing to the terms Of the circular. Allotnents
to subscribers for more than $500 VIII be
made as soon as possible after the sub
ScriptiOn closes.
In order to avoid a too rapid absorption
of funds into the treasury, with q possible
consequent evil effect on industry and COM
merce, any subscriber for more than $500
will be permitted TO take his allotment OF
bonds in instruments of 20 per cent, tax
ing the first instailment within ten days
after the notice of the allotment, and the
balance at four equal Intervals OF forty
days each in four installmentS each OF ~
per cent. of the bonds allotted. Delivery
of bonds will be made in installments as
payment for them is received, and payment
must in all cases be made in full as the
bonds are taken. The per cent. deposit
will apply on the final installment. Any
subscriber may pay for the whole amount
allotted him within teD 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 IN
scriptions from one Individual, although
made from time to time, will be aggregated
and considered as one subscription,
The secretary of the treasury will receive
in payment for the bonds, postoffice money
orders payable at Washington, d. O., and
checks bank drafts and express money or
Boston, Philadelphia, Baltimore, Washing
ton. Cincinnati, Chicago, 81. Louis, New
Orleans, 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 de-
partment and soon as returns are OBJ
tanned, the subscriber will be credited with
the amount of his subscription as of the
date of collection. The secretary will also
receive in payment for the bonds certificates
of deposit issued by the assistant treasurer
of the United States i'll the above named
cities. The certificates of deposit may be
obtained from any assistant treasurer in ex-
change for gold coin, gold certificates stand
ard silver dollars, silver certificates, United
States notes, treasury notes of 1890, and ma
tional bank notes; and the subscriber will
be credited with the amount of his sub
scription of the date Of the certificate of
deposit. The secretary will also receive cur
rency sent by registered mail or by eX-
press direct to the treasury department.
For the mutual convenience of the sub
scribers and the department a blank form Of
letter to accompany remittances has been
prepared and it may be obtained at the Of
fees of national and state banks generally,
at the several subtreasuries of the United
States al any money order pOstofice and at
any express office
The bonds will be dated August l. 1893,
and they will be delivered to subscribers
free of expense for transportation as soon
after that date as possible. The bonds will
be accompanied by a check for the amount
of interest due the subscriber from the date
of his payment to August l, 1898.
All remittances and other communications
relative to this loan should be addressed to
the secretary Of the treasury, division of
leans and currency, Washington, d. c.
All subscriptions must be received at the
treasury department, Washington, d. c.
not later than 3 O'Clock D. M, Wednesday,
July II, 1898. No subscriptions received aft
er that date and hour will be considered
l.. 7 GAGE Secretary