New-York tribune., 1900-03-15
INSTRUCTIONS TO BoNDHOLDERs.

holder which Mr.. Overstreet brought with him
for the purpose.
INSTRUCTIONS TO BONDHOLDERS.
AS as he received notice that the bill
had been approved by the President Secretary
Gage issued a circular to holders Of United
States per cent bonds Of the act of January
II. 1879; per cent consols of 1907, Act of July
IA, 1870, and January 90, 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 to-day.
Assistant Secretary Vanderlip issued circu-
lar of instructions and information to persons
desiring to exchange old bonds for the 2
per cents. He says:
coe of ~ per cent per- Is 10 meant ye' such m IA
price as would yield to the investor return of his
the sum invested by him at the rate of "a cent
per annnm, realized in quarterly payments
change of the three Of Of bonds IL for
the Importance of having all registered bonds prop
erly assigned, and all resolutions and applications
National banks now owning bonds lodged with
the Treasurer rem of the United states & as s. security for
the Department VIII require a resolution of the
bonds for the new per cent bonds, and will also
require the surrender OF the duplicate receipts rep
Treasurer of the United states
the Treasurer of the United States as security for
public deposits will be required to furnish the reso-
luton above referred to and surrender the duplicate
receipts. and, in case the bonds he per
cents of per cents of 1907 there will also
be required certificate Of deposit of an Assistant
of funds to the Treasurer of the United States OF
amount equal to per cent of the face value of
such per cent or per cent bonds.
Institutions owning registered bonds inscribed in
their name will please observe the requirement
that the resolution authorizing their surrender for
exchang be certified to by different officer
from the one authorized In the resolution to exc
cute the assignment
Upon receipt OF bonds. papers representing
bonds, to be exchanged for the cents, and
upon their acceptance, the Department will issue
acknowledgment bearing the fac-simile sigma
ment will not be negotiable, but pending the prepa
ration and issue of the bonds process which may
require two months or more, the Department will
issue temporary bond which. In the case of bonds
desired as security for circulation deposits will
be lodged with the Treasurer of the United States
In all other cases the temporary bond will be
lodged with the Register of the Treasury. The De-
partment will allow one transfer of these tempo
rary bonds lodged with the Register. and the bonds
issued on account of such transfer Will retain the
date and the priority rights OF the original, but
such bonds so issued will not be again transferred
In due time the Prepayment bond will be substi-
owner, after which the usual rights of transfer
all registered bonds OF the United States
will be recognized by the Department.
When the Register of the Treasury issues the
temporary bonds he will mail notice to the owner
thereof giving the denominations and the num-
bers. If the desires to avail himself of the
privilege to make the one transfer above
toned he may give power of attorney to
in the city of Washington to make the assignment
for him. This power of attorney, accompanied by
payee of the bonds. will be all that will be
necessary TO effect the transfer.
Several local banks. including the Chase National
teegraphed Washington yesterday promptly on
receipt of the news that the President had signed
he Few I'm ,ol~i,