The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1905-05-20
FINANCIAL.
FINANCIAL.
100000
SEWER AND WATERM0RKS
CONSTRUCTION BOND ISSUE
OF THE
CITY OF MANILA
MAY 5, 1865.

BY direction of the Secretary of War and
with the authority Of the government of
suiar Affairs of the War Department in
vites bids for 81 900. 900 of the sewer and
watsrworks construction bonds of the city of
gress of the United States. entitled IAN act
temporarily to provide for the administration
of the AFFAIRS of civil government in the
Philippine Islands, and TOR other purposes -
approved July /, 1902.
The act of July i, 1902, authorized issue
Of 81, 000. 600 bonds of that municipality TO
provide funds for the construction of ade-
quate systems of waterwerks and sewerage
Surveys having been so far completed as TO
permit work to begin within short time.
passed an act authorizing, subject TO the
approval OF the President. the issue OF said
bonds follows:
81, 900, 600 to be dated June l. 1905.
$4,000, COO to be dated January 2, 1907.
$1,000, 900 to be dated January 3, 1865
This act, which has been approved by the
President, makes permanent appropriations
for the quarterly payment or interest. and
also appropriates out OF the treasury the
of SIS, $40 annually for each 81, 900 900 of
bonds outstanding, which amount, together
with the interest thereon. is TO be invested
by the treasurer of the Philippine Islands
for the purpose Of constituting a sinking
fund for the retirement of the bonds.
The city of Manila IL without any
naaasd gaxaet soSaIad afa s
that of Washington, D. O., and the
Philippine government contributes 80
per cent OF the annual expenditures.
The bonds to be issued in registered
form In the denominations OF $4,000 and
81, 900, in proportions to suit the purchaser Or
The bonds will be registered ana
transferable at the ONCE OF the Reg
1ster Of the Treasury Department at
Washington.
They win be dated June l. 1905, and
VIII bear interest at the rate OF 4 per
centrum per annun1. payable quarterly.
The bonds will be redeemab1e at the
Szfs zsfrre Of f1R py1T
after ten years, and viii be payable in
thirty years after date or issue in gold
coin OF the United States, principal and
United States.
Under the terms of the act of Congress
approved February 8. 1906, amendatory OF
the act of Congress approved July l. 1892.
"au bonds issued by the government Of
the Philippine Islands, or by its aE~
sa S sl,s a cove ss se the uaitea
states, or by the government of the
philippine Islands, OF OF any political
or municipal subdivigion thereof. or By
ity, or other municipal subdivision OF
any State or Territory of the United
States, or by the District OF Column
bia..
Subscriptions viii be payable after notif
cation OF acceptance by this once on June
/. 1905, at the Sub-Treasury in New York
City. in checks or bank drafts made payable
in said city and delivery of bonds VIII be
made BIT said sub-Treasury
the statement that these sewer and water
works construction bonds of the City OF
Manila will be accepted by the Treas
ury Department as security for de-
posits of the public 1nonay of the
United States IN national banks when
ever further deposits may be made;
and may be substituted for United
States bonds now held as security for
deposits on condition that the United
States bonds thus released be- used
as security fog additional circulation
when in the judgment OF the Secretary OF
the Treasury. 1t is desirable 10 stimulate
an increase in national-bank circulation.
The legality Ct this issue has been passed
upon by the Attorney General of the United
States, and the form of bond as drafted has
been approved by the Secretary OF the Treas
ury and the Attorney General
All bids must be received in the Bureau
of Insuiar Affairs, War Department, WASH
fngton, d. c., not later than 3 o clock p. NJ.
May 25. 1905, at which time they viii be
opened in the u ssence of the bidders. No
bids received after that day and hour Will
be considered.
The responsible subscribers offering the
highest premium viii be those accepted up
to the amount of 81 coo eco.
The Secretary of War reserves the right to
reject any and all bids
Each bid NEST be accompanied by a certi-
fed check of per cent Of the actual amount
of the bid.
Delivery on the tst day of June will be
made by interim certificates. for which it
is anticipated the perfected engraved bonds
will be substituted before the list day
Of September
Envelopes containing bids must be marked
Waterworks Construction Bonds" and
addressed 60 the Bureau OF Insu1ar kf-
fairs, War Department, Washing ton,
.. C.
to the financial statement of the city Of
Manila, will be furnished application
C. R. EDWARDS, Colonel L. S. Army,
Chief Of Bureau. 1t
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