The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-15
PRESIDENT ATTACHED HIS SIG
NATURE TO THE FINANCIAL
MEASURE YESTERDAY
FOURTEENTH A FAVORITE DATE
MR. M'KINLEY REFERS TO OTHER
MONEY MEASURES SIGNED
ON THAT DAY
SECRETARY CAGES CIRCULAR
Holders of Bonds Notified of Sign
ing of Bill and Informed as to
Delivery and Exchange
of Same.

of Same.
WASHINGTON, March 14-At fourteen
minutes to / o'clock this afternoon the
president affixed his signature 10 the
financial bill, thus making it a law of
the land. Mr.. Overstreet of Indiana,
who had the bill In charge, arrived at
the White house about five minutes be-
fore that time, and was shown into the
cabinet room, where he was Joined by
the president, who, after inquiring If the
bill had been compared with care af-
fixed his signature to it, AT the same
time he recalled to those who stood by
the fact that many Of the important
financial bills which had been passed~by
congress had been approved on the 14th
Of the month He spoke of the Sherman
act, the resumption act, and now the bill
which was before him. In signing the
bill the president used a new gold pen
and holder. which Mr.. Overstreet had
brought with him for the purpose
SECRETARY GAGE ACTS.
Immediately upon receiving no.ice that
the financial bill had been approved by
the president, Secretary Gage issued a
circular TO holders of United States 5
per cent bonds Of the act Of jan IA, 1875,
4 per cent consols Of 1897, act of July a.
1870, and Jan. 20, 1871, and per cent
bonds of 1908, of the act of June 13. 1898.
in which their attention is directed TO
section II of the act approved today. The
secretary continued as follows:
Under the provisions of this law the
department will be prepared to receive.
on and after this date, until further no.
tice, any Of the bonds issued under the
acts aforementioned, and as early as
practicable thereafter will issue in ex-
change therefor a like amount of United
States registered bonds, bearing interest
at the rate of per cent per annum, as
provided by the act approved March Il,
1900.
ITO effect the exchange the outstand-
Ing bonds should be surrendered TO tha
secretary of the treasury in accordance
with the terms of this circular; they will
be accepted for that purpose In the order
of the surrender of them to him. and
new bonds, bearing interest at the rate
of per cent per annum, will be issued
in the same order In lieu thereof. A
letter of transmittal should accompany
each package of bonds for exchange. set
ting forth the purpose for which they
are forwarded, and giving the address to
which the new bonds and checks for tha
interest thereon shall be sent.
SURRENDER OF BONDS.
Bonds held by the treasurer Of the
United States in trust for national
oank may be surrendered by letter ad-
dressed to the secretary of the treasury.
accompanied with the treasurer's re2eipt
representing the bonds, together with a
resolution of the board of directors of
the bank, authorizing the treasurer to
assign the bonds
The priority of issue of the new bonds
VIII be determined by the date of the
receipt by the secretary of the treasury
or the outstanding bonds, or the paDers
representing the same, provided that the
ponds or papers are in proper condition
FOR such surrender IS set forth hereafter
IN this circular. If any correction is re-
CURED, the priority of the bonds 20 be
issued will take date from the recent and
acceptance OF corrected bonds or paners
with this office.
The new bonds viii be dated April ].
1850. therefore all outstanding bonds sur
rendered for exchange and accepted for
thai purpose prior 10 that date will bea
interest to April l and interest on the
new bonds will begin and the present
worth Of such surrendered bonds will be
calculated as of the sail April 1. The
new bonds viii De issued in denonlina-
tons as follows: Coupon, $50. $1eO. $500.
$1,000 Registered, $50, SlGc. $500, 81, 900,
1900, SO, ,0C0 $500
CHECKS FOR OWNERS.
"AIl bonds forwarded for exchange VIII
be regarded as the property of the ner-
son, iirm, or ihstituu, IN III whose favor
the new bonds are TO be Issued and in
each case the check in settlement Of the
present WORTH etc, about referred to.
will be drawn in favor of such nerson
firm, or institution, bur, If the agent fer
Wardlng the bonds shall desire. qnd so
request, the bonds and the check NAV
be forwarded TO such agents address de-
livery 20 the owner.
Packages containing bonds for sur.
render, or papers representing bonds held
by the treasurer Of the United States in
trust ior q national bank, should be ad-
dressed to the secretary of the treasury.
division Of loans and currency. Washing
ton, d. c., and be plainly marked bonds
(or papers, for exchuuge'
'Hlank forms Of application for the ex-
changes herein authorized and blank res
olutions for use by Institutions have been
prepared by the department., and may be
obtained on application to the secretary
of the treasury
I'm exercise of the discretion given to
the secretary Of the treasury under sec
ton II OF the act he reserves the right
to suspend the exchange of bonds above
contemplated, whenever in his opinion.
the interests of the government may be
best served thereby. The secretary of
the treasury also reserves the right to
change the terms of exchange above set
forth, either by requiring a bonus or
premium upon the per cent bonds or
by requiring the holders of bonds out
standing To surrender the same in ex-
change for the new bonds at a rate to
yield income of more than pa per cent
per annum'