The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-10-26
NEW ORDER As TO BONDS.
The Government 10 Exercise Great
Caution in Future.
Recent ROhbcrEcs and DefaI"ationS
Lead 90 Activity and Wat~ifulHeSs
in POstoGlce and Treasury Depart
mcnts-Stntus Of surety Companies


in Postomce and Treasury Depart
mcnts-Stntus Of surety Companies
The numerous roUbcrics ana deCalcauous
recently committed by unknown persons
and F.dcraI officials have caused consid-
cradle concern at the Postofice ard
Treasury Departments. The situation has
become such that an order has been Is
| sued to the various executive departments
that the bonds offered as surety Cor public
officers viii hereafter bee examined more
rigidly- The fact that there are i'm the
| Treasury several millions of dollars worth
| OF unpaid Judgments against absconding
! principals and their bondsmel is another
reason for the decision of Secretary Gage
and Postmaster General Smith co exercise
more caution and care in tho acceptance
of surety.
The Solicitor for the Treasury Depart
meut is charged with the duty OF examin-
ing the surety offered by bonded officers
OF the Government and during the past
few months he has had occasion 60 reject
the bonds of quite a number Of new Gov
]
the department accepts the guarantee Of
any solvent bonding company. and these
| corporations now furnish surety for prob
ably so per cent OF the bonded officers or
| the Cox. ~nment- Such companies are re
quirad to report quarterly to the Attorney
,,a,.rI sbo,ri,,,, tl,i,. ti,,,-,.i1 ,,,,5fti,,,
''"" 'i'eii "oii''S 20 mime E'ou 'li 0N'N
! obligations to the Government. Bonds
| are required from all the Federal disburs-
ipa. officers r,str,,stars and otber 9TH
-.-,
'''' ''' wei a. i''iiI 'ile great army oil
men having contracts for the erection OF
public buildings and doing other work for
the Government II is REGARDED as an
t,-..,.-...-..
MAJ 'sl ~ see 'Ni' 'l't bonus
'.Ieie" I"r the correct ana IalIhl"l per
| foImauce of the duties OF these men are
sufficient and good
! Tn. ---.,.,,-,- r,..,,r+-,,r+ 90, -,.,..,..
N"7'''NS ~ lle Ei''' I-aJ'Il'y OF bonus
! furnished by Government officials has
| prepared q statement on the subject Of
| bonds individual and corporate. and the
premiums paid by those who secure bonds |
| from corporate institutions The figures
]
| were given by officials OF the various de-
| rartuaents. with aeer, safe penalties Of
! Sl-.l6ts50. In 1900 the number of bonds
| given was 30. and tba aggregate ueuaI-
ties S.S52 so. I'm 1901 efi bonds. with p.n-
/ aItiss amounting 10 81 -sg-58
The bonds b,,iD.. f,,li,-r51far -.,rafi..s 81,
rs,a y-.ra ~ ,,.ftI, 600 ,,.,,,r-,.. .,,,-..+f-
/ 1000 Ia indfvf5,.T and ~ c,,r,,,--+e. ra.1
10 fnsi,-id,,,I and 5r= ,.C--,,r,+.. T,f-fr.,l
/ among the five ,I.rar,r-..-,ts m -
| bonds o., file az fb.. 7,rs,s,,rr- r,,- 49,
/ eate neualtfes for tho rbraa ,-a,ry No
a. rcI1ovrs- Treasure so 80 COZ. I,+.~5l-
Z, IN -o.. W. e. frq c,q. So. e. go
| Sr,t. 81 SO fo,- - t,,-,1 for ,,,. NJ. 49,,
| ,r 90 -rr IN
| o. ,--lti.,t,
cb..rs,s - 7fi-, nj -,,,,-i-,- -
| NJ ,I,.r,- .,-,. 3D.. -, an. - - -
mn. en- e5o b,,-.,,, ,,.f,t -. -.
/ iro ,,,,,-,.,.i,,-..I,- go. s'.a-, -.
| - - -. -, -, g.
/ -r1,a ,7,,,,r.s s,,..,. 49, ,I,. -.
,-.,r7i,,,,' 90 ,bl 80. ,.,,,.,,t,. .
81 a. nor 81 e,o ~ fre,7ra,,. ,s-,,t, ,-.gr n,
/ ~ ,,...-- n ... =,
OH q r- -,,,f-,,- -, -. ,frs a. ~ g.
,.,,--7r..r- m -, 49,, s., a..
/ S.a.a Da-1rrrn,rf gr,. JIra IL h. s,f5 T.,
tine facr chat tho risks ar. .r,-.r,, ,.,,r,-
! SIMILAR and dirlrr,atfc officials yy5, gre
/ abroad and Mo ,.-.r,.l+ las. ,..,fi1,- D..
reached i'm cas-. Of 5-.r,r,..tfo7
! The minimum. rate. Of most OF he surety
/ companies is So for slugIc $1,000 Der
{ year with a reduced premium for other
| thousands after the first. or. rather. for
more than 81 o13
| There are about twenty-five COMPANIES
/ authorized by the Attorney General 10
/ do business in the District Of Columbia
] or IN the furnishing Of bonds TO Govern
meut officials throughout the country
/ OF these. seventeen do the bulk Of the
| business In fact. two large companies
/ do one-half Of the business OF furui hing
ponds L" Government employees, anc the
| rest oil IN" business Is divided among the
/ ''H'I com 9ahles-
! ~ % ,sl'll.'le" ,Hdt inc total prom! ms
I On lht S-''",'''p 'I corporate sureties fur
.' ..,7I uIii"s ,-e past three years
/ i-'.''' -i',u 10 S1t''''- ne uSur~S were OBJ
bonds by the various companies, and as
I GA 10 lie b'Ht~- ia accordance with the |