The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-04-09
ROMANCES OF THE BONDS.
UNEXPECTED FORTUNES WAITING IN
THE TREASURY.
Securities Yellow with Age That Prove
Valuable-LarEe sums of Money for
People who DO Not Call for Them-An
Indian Ignorant of the Value of Money.

W i'FHs - We ai wv pb'bA 'iHi
cial, one who has been 50 long in his particular
bureau that il would be almost impossible to
I'll his place aCceptably said: There is anv
amount 81 money due people who do not call
for it in the United states Treasury. You see.
there have been ten great loans made to the
United States in the past sixty years. The
oldest / ever had anything to do with was that
maturing in 1897. ! think it was. 1t is about
all paid. but there is still nearly $4,000 in
principal and interest due to somebody. 1t
will probably never be called for. And,
speaking Of that loan, there was n
curious incident connected with my last ref
erence to the old books relating to It. il was
while Judge Folscr was Secretary. One
morning an old man came in. lie was from a
New England State. and said that some years
before he found some old stocks or bonds
among the papers Of an uncle. He mentioned
the name OF his uncle. who had been "A man Of
national reputation for ability. and had n COM
Portable fortune for those days-that is, from
1890 to 1870. He had come to the United
states Treasury to find out IL the old papers
were worth anything. as they seemed to be
United States bonds, l looked at them they
were ten of the old debt bonds. and were in
deed curiositics. They were old and yellow
from age. but were worth. principal and in
forest. $4,000 in gold. for there was ten years
N'' ~ ~ iAs W Il mug INV tllC
old mans amazement whom l told him this.
"Why. | would gladly have taken $1,000 for
them. said he. and | offered them to a Boston
banker for loss than that. but he rather super
ciliotsly and contemptuouSly declined to buy
them ut any figure
II took the old man in to sec Judge Folger.
who was very much Interested in tho matter
when | explained it to him. Ho had never seen
any OF the 'oldioan' securities. and after these
were paid and cancelled | believe he directed
that one OF them be framed and preserved.
Well. in less than half an hours time tho old
New Highlander walked out OF the building
with a check in his pocket on the New York
Sub-Treasury for $4,000 in gold. How that
smart Boston banker must have cursed his own
ignorance and stupidity when he learned what
he had thrown away.
"A circumstance very similar to this occurred
in relation TO some Texas indemnity bonds
the next Oldest OF our national loans), when
Mr.. Morrill, was Secretary Of the Treasury. A
prominent Southern man. who had held a high
ommand in the Mexican war and was n Con-
federate General officer. left among his papers
n certificate Of Texas indemnity stock. as It
was called, for $4,000. His widow visited
here soon after her husbands death. and. being
very much reduced. was consulting tho late
George Riggs concerning the disposition OF
''hiV ANU hlo" lHk lildI III nuSDdtl
had been a large holder of these securities.
Mr.. Riggs said:
Mrs. -. what did Gen. ID do with his
Texas indemnity stock 2"
~ really don't know the lady answered.
l never heard Of any such things. BY the
way said she a few minutes later. L saw in an
old envelope | found among his papers not
very long ago something which had the words
Texas indemnity 'on it. but l thought it was
only an old receipt for taxes paid on the Texas
land
DO you think you can find it again p said
Mr.. Riggs. without telling her anything which
would create expectations that might never be
realized.
"'Oh. yes she replied: i remember per-
tectly well where I put it.
Have it sent to you here was the next
suggestion 81 the banker: it is as well to have
all the papers relating to this land together
In the course of the next fortnight the lady
came into the bank. and. handing Mr.. Riggs a
paper. said: Here is the tax receipt l told you
on Instead OF being a tax receipt. however.
it was "A $4,000 Texas indemnity certificate.
on which five years interest was due. and the
intense qualification OF the lady may be mag
ined when she was told that the old yellow hit
of paper would add $4,000 in gold to her
worldly goods. 1t came lust in time. too. for
Sic a dbIe Win Ut money 10 save u valuable
estate in Arkansas. which otherwise would
have been sold to foreclose a mortgage over
due. Nearly all OF the Texas indemnity has
been paid long ago. and ! do not think there
can be more than $4,000 which has not been
called for. or course. interest has ceased to
accrue.
The next loan was that known in the mar
ket as the o-2O. a bond that could be paid in
five years or in twenty after its maturity. as
the Government might choose. 1t reached the
limit two years ago. and has nearly all been
paid. 1t was largely held In Europe. There is
only about half II million outstanding"
What percentage Of bonds do you estimate
will never he presented - was asked.
1t is not possible for me to make any esti-
mate that would be accurate" he replied. In
England about onc-quarter OF l per cent.
is the figure. What becomes OF the bonds
OF course | cannot say. but they are lost
or destroyed. The Government, on proper
proof being made Of the loss OF bonds
or of their complete destruction by fire,
will issue new ones in their place or nay
the money value OF them to the loser. Not