The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1905-03-03
FINANCIAL.
So, 500, 900
PHILIPPINE PUBLIC WORKS
AND
IMPROVEMENT BONDS.

February q, 1905.
BY direction of the Secretary of War and
the authority Of the Government of the Phil
fppine Islands, the Bureau Of Tnsular Affairs
of the War Department invites bids for So
600 $50 with accrued interest from March LIST,
Of the Public Works and Improvement Bonds
authorized by Act OF Congress approved
February 6. 1905
The bonds TO be issued In registered
form in the denominations OF $4,000
and LOGO in proportions TO suit the
purchaser or purchasers.
The bonds will be registered and transfer
able at the office of the Register OF the
Treasury Department. at Washington
They will be dated March /, 1905,
and will bear interest at the rate OF
PER CENT PER ANNUM, payable
quarterly.
The bonds will be redeemable at the pleas
of the Philippine Government after ten
years, and will BE- payable in thirty years
after date of issue in gold coin of the United
States-princiDaI and interest payable at the
Treasury of the United states
Under the terms of the Act of Congress all
bonds issued by the Government of the Phil
ippine Islands, or by its authority, shall be
exempt from taxation by the Government of
the Philippine Islands of any political or
municipal subdivision thereof. or BY any
other municipal subdivision of any state or
Territory of the United States, OF by the
District of Columbia
subscriptions viii be payable upon nottica-
tion of acceptance by this Office, at the
Sub-Treasury in New York City. in checks
or bank drafts made payable in said city,
Treasury.
The Secretary of the Treasury authorizes
the statement that the Philippine Public
Works and Improvement Bonds will be &C
cepted at par security for deposits of pub
lie money, should further deposits be made;
and may be substituted for Government bonds
now held as security for deposits on condition
that the Government bonds thus released be
used as security for additional circulation
whenever in the judgment of the Secretary
Of the Treasury, it is desirable to stimulate
an increase in national bank circulation.
Secretary treasury
thermore authorizes the statement thar
these public works and i1nproveSnsz1
bonds Of the Philippine Government
may be substituted at any time for Sc
cuxtties now on deposit TO secure pub
lie moneys, except United states
So, Ooc ,ooe of the one-year Philippine
temporary certificates of indebtedness
maturing May 1s6 next VIII be resirso
The Act of the Philippine Commission in
pursuance of the above Act OF Congress has
been approved by the President OF the United
The legality of this issue has been passed
upon by the Attorney-Generaf of the United
States and the form OF bond as drafted has
ury and the Attorney General
+ All bids must be received in the
Bureau of Lrsular Affairs, War Depart
ment, Washington. .. G., not later than
3 o'clock ?. H., Friday MARCH 10,
1905, at which time they VIII be opengo.
in the presence of the bidders No
bids received after that day and hour
viii be considered.
The responsible subscribers Offering the
| highest premium VIII be those accepted UP
I 10 the amount of -. 800 900
The Secretary of War reserves the right TO
reject any and all bids.
Each bid must be accompanied by Ger,
/ tilted check of two per cent. OF the actual
| amount OF the bid.
/ Delivery on ti4e fifteenth day OF March VIII
! be made by interim certificates. for which
/ win be substituted on or before the first day
j of July.
Envelopes must be marked "sub-
seriptious for Philippine Public WORKS
and Improvement Bonds and ad-
/ dressed to tho Bureau of 1nsulaT Al
fairs, War Department, washington
.. G.
Full ana detailed information viii be fur.
/ nished upon application
Colonel I. S. Army,
/ II Chief of Bureau