Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-17
Willing to Pay 1877 3-4.

Secretary Shaw has telegraphed instruc-
tions from Chicago this morning to the
Treasury Department to give notice that he
would purchase for the sinking fund today
and tomorrow any United States per cent
bonds of the loan of 1925, and pay for them
at the rate of 137A and interest to date OF
purchase.
In this connection the department makes
the announcement that Secretary Shaw,
when he was in Washington last Monday,
secured the option on s5,000,O00 of per
cent bonds of 1925 at 13S fiat, and this offer
has been accepted.
The following notice was published by the
Treasury Department.:
"By virtue of the authority contained in
section 1904 of the Revised Statutes, no
ttce is hereby given that this department
will purchase for the sinking fund on Fri
day and Saturday. the 18th and 18th in
slant, any United States per cent bonds
of the loan of 1925 and pay for them at
the rate of 137A and interest to date of
purchase. The department will also re-
ceive the same class Of bonds on Monday.
the 10th instant and pay for them pur-
chased on the 18th. Prepaid interest and
missing coupons will be deducted at the
face value thereof from the purchase price
of the bonds. AS the books of this loan are
now closed against transfers the interest on
November on registered bonds, upon which
Quoted and will be paid in the usual way
by check to the order of the owner Of
record. Registered bonds should be as
signed in due form to the Secretary of the
dated and witnessed by one of the officers
named in the note printed on the back of
the bonds. Bonds may be presented at this
department, division of loans and currency,
or at the Office of the assistant treasurer of
the United States at New York.
The Outlook.
The outlook is that Secretary Shaw will
probably be able to purchase a considerable
amount Of the long four bonds at the figure
fixed by him, in view of the fact that the
prices Of these bonds have been going down
this week
Secretary Shaw last week stated that he
would receive offers for the purchase of
bonds. number of offers were submitted
but the prices were too high and the bonds
were declined by the Secretary.
Amy considerable offering Of bonds that
may be accepted will furnish a means Of
relief to the money market in New York
Various other means of relief adopted by
the treasury in the last two months have
helped to take the market out of bad hole
at times, and this is expected to be an
other.
Secretary Shaw's plan for releasing per
cent bonds held for deposits Of public mon
eys, by accepting state and municipal bonds
OI Tie IuOSt dppTONeu SOTl, HAS resulted IN
releasing many government bonds which
have been pledged Immediately for circu-
lation, that being the condition on which
the substitutions of other classes of bonds
Is allowed. Up to date the applications for
the substitution of state and municipal
bonds amounts to about s15,OOO,OOO. If all
of these are accepted that would release
$iO,O00,0OO or more of government bonds
with which to swell the circulation of ma
tional banks thereby increasing the vol
ume of money. number of transfers
have already been made, and probably a
half of the government bonds released are
now pledged for circulation. The treasury
board is passing upon the applications as
fast as possible, having acted upon more
than half of the total.
Interest on Bonds Anticipated.
Treasurer Roberts continues to anticipate
the interest on all classes of government
bonds until the end of the fiscal year at
a rebate to the government under the Of
fer Of Secretary Shaw some time ago tn do