The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-05-23
CUBAN BONDS FOR SALE
BY SUBSCRIPTIO
New Loan to Be Put on the Market by
Speyer s. Co., of New York,
This Week.

The bonds Of the republic OF Cuba,
which were recently secured by Ameri-
can bankers. have been privately sold
to a considerable amount The Gov
eminent Of the United States has been
advised by Speyer & Co. of the con-
clusion Of the loan and OF the Sc
curity therefor and has replied that It
does not consider that there is oc-
casion to object to such issue Of bonds
by reason Of Article II OF the appendix
OF the constitution Of Cuba. adopted
pursuant to the requirements Of the So
called Plat amendment"
BY the contract which the government
OF Cuba concluded with Speyer & Co.
on May II last the government assigned
as special security for the loan. TO have
precede over any subsequent assign
ments. IS per cent OF the customs re-
ceipts OF the Republic. an amount equal
10 which is TO be paid weekly 10 Speyer
& Co. in New York or TO their agent
In Havana. The customs receipts OF the
Cuban Republic for the fiscal year ended
June 80. last. amounted to sl4 63S. asa
United States gold and for the nine
months ended March 81. 1904. they reach
ed s12 9S8 0s6. thus showing a consider
able increase over the previous year.
The amortization of the loan shall be-
gin on March l. 1910. the amount TO be
annually applied 10 be sl.O2O.OO0 United
States gold. to be paid by the govern
ment TO Speyer & Co. In monthly in
stallments of $4,000 each These amounts
are to be applied to the purchase Of
bonds obtainable at or below par and
accrued interest.
The new issue Of the Cuban Repub-
lie amounts to $S5. ,OOc. and bears in
terest at per cent. and the principal
becomes due on March l. 1914. Principal
and interest are payable as follows: In
New York in United States gold coin
at the Office OF Speyer & Co. or IN
London FranlSfort-op-M Main. Berlin. or
Paris "a fixed rates. Both principal and
interest are exempt from all Cuban
taxes during the life OF the loan. Such
bonds as have not been sold are now
TO be offered for public subscriptions
at 81 per cent and accrued interest
Payment for bonds allotted is to be
made in New York funds as follows:
On May 81. 81 per cent and accrued in
terest from March 1. viz. SS74.9s per
81 900 bond: on August 81. 30 per cent
and accrued interest from March !. viz.
S3g.52 per 81 900 bond. on November %.
30 per cent and accrued interest from
Sepembter l. viz. sSOSe 6 per 81 900 bond.
making total OF 81 per cent and ac-
crued interest. or SsS6.17 per $1,000 bond.
Payment In fun may be made at any
time under discount at the rate OF 5
per cent per annum. Pending the
delivery Of dehnitiVe bonds tempo
rary certificates Will be issued by
Speyer & Co.. which. when fully paid.
viii be exchanged as soon as possible
after November % next. for dennitive
bonds bearing interest from September
l. 1904
Subscriptions will be opened In New
York at 10 a. m. on May Z6 next, by
Speyer & Co. 24-2s Pine Street. and
Harvey Fisk g. Sons. % Nassau Street
Lists VIII be closed at 3 p. m. on the
same day or earlier. the right being
reserved TO reject any application and
TO award a smaller amount than applied
for.