New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-27
OFFERS TO BUY BONDS.
SECRETARY SHAW ANNOUNCES THAT
he WILL PURCHASE FINES
OF 1904 AT 105.

washington. Sept. 26-Secretary Shaw an
nounced to-day that ne will buy pei cent
bonds Of 1904 at 105 fiat He believes that this
nrice is reasona BILE and just, and. although the
current quotations slightly in excess of that
seure he regards such excess as the result of
imitation AT the price he offers. private in
,estor would realize about 10 per cent for the
time the bonds have TO run The amount of os
~ 1904 now outstanding is S19.41035o The
secretary's circular follows:
p x-irtue of the authority contained in Sec
+ion 3 694 Of the Revised Statutes notice is
terehv given that this department will purchase
any of the United States - per cent bonds OF
+be loan of 1904, if presented for that purpose
~ or before October 10 next, and will pay for
.barn AT the rate of 105 fat. Bonds may be
presented this department, Division OF Loans
and Currency, or at the ONCE or the ASSISTANT
treasurer Of the United States at New-fork-
l. NJ SHAW, Secretary
Secretary Shaw also issued the following cir
cn,ar. carrying out his announcement of yester-
sov regarding prepayment of the interest on
bonds
II pursuance of authority contained in Section
$500 Of the Revised Statutes OF the Cnlleo
states public notice Is hereby gwen lildt Inc
s,terest maturing on the several interest dates
hetween and including November i. ISoZ, ana
JuIv / 1908 on the registered and coupon ponus
20 tba Tinted States will be prepaid with a re-
hate of t1yo-tenths Of l per cent month on the
eroornr prepaid under the following condltlonS;
If
,nent must present their bonds to the ireiSu. q
~ come Assistant Treasurer Of the bnlteo
states who Will stamp upon the lace OF lLe
bonds the fact of such prepayment ana re'1 In II
- - the owners with the interest for the
T1eriod above mentioned, less the rehate. "a Nd
tsona1 hanks owning bonds deposlteu Win tite
rrraoe,,rer If the United States to secure clttu-
g.+ior or deDosit NAV obtain prepayment upon
Eradication 10 the Treasurer OF the CLIleu
States The bonds so held upon when 1 lntet eS'
&c n-enaid will be stamped as above lndicaleu-,
Eo,nors maturing upon the dates includeo IN
..ss csrcI1lar may be presented for prepay lnehI
at the Office Of the Treasurer Oh 'ie
states or any assistant treasurer - :,
70 ceIcrlafing the amount of rebate 10 De
.I1oved any fractional part OF a Inohlh VII sc os
actonad as a full month, and the rebaIe LoI
~ so,.iora1 mart of q month calculated as a
snn month will be retained by the United o!a'Fs,
Prepavment under this circular VIII osSlL ~
Wednesday October /. 1So2. ana cohuhue uIIc.t
,e1a- 20 Ta02 but prepayment OF interest,"
~ registered bonds Of the loans OF Irct. I'o os
e.s 1925 will not be made while the BOOKS OF
those loans closed
IT cannot be said that Secretary Shaws oner
to buy bonds was regarded by New-1ork bank
ers as likely 10 bring any appreclaole qua ny
of new money into circulation OF the sI9'
4l0350 outstanding. S1.134.Soo is held pE ll1
Treasury Department collateral for natioii ,e
bark circulation and government deposits IN tne
banks The current market quotation TOT - :
per cent bonds is 1854 bid 1904 asAeG; 90
the Secretary's offer of 100 nat, II is ue4ieNS
bv leading bond houses. Will meet win NeiS
slight response. The Secretary's general atu-
tu5e of Willingness TO cooperate in relle1 meas
ures for the money market. however. mas peer
an influential factor in causing reHtFdl II
Condolences on the Stock Exchange The can
money rate was again high at the opening yes
terday IA per cent and ruled strong during lIs 5
dav ranging between 10 and 10 per cent, al. ~
closing at y per cent, which was the idte a.
which most of the days loans were lIaue-
AT the opening Of the Exchange there was q
6oZrnZUard tendency in the active STOCKS: puI
later an Improvement set in. when con u, =
with only a single slight recession uhIh lhe
close with last prices as rule sho"lnS SUI
s+en+iaI net advances over Thursdays close.
The S1,h- Urea sury has been directed 10 aIltici-
- nrayrnent of S:55O0o0 Australian gold de-
positad AZ the San Francisco Mine for account
of two local banking houses . o,,ao1,e
Up Morgan & Co will to-day seno ouL AM
Covering interest and dividend payments ols
- oc.aIer nv various corporations for when
tbev act as fiscal agents. the toJad pay iiie
enticinated being about S14ocopo
Tba T-ri+ed states Steel Corporation atso an,
ronnced Yesterday that it would TO-DAY Ilai
nUunoeu 60 The quarterly dividend on its com
mon stock. due September 80 ana t 10 T TFle
becls TroIIld he rayable on Septembe1 30 ne
ome-te-1v dividend amounted to So'oooo-.'' am anu
49, r,ro viii he released TO the money iiid4f