Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-15
FINANCIAL.
$1,000
Sewer and Water
works COnstruc=
ton Bond, Issue
OF the
CITY of M]AN0IlA.
MAY g. 1906.

By direction Of the Secretary OF War and with
Islands. the Bureau Of Insuiar Affairs OF the war
Department invites bids for s1.oo0.oOo Of the
sewer and waterworks construction bonds Of tho
city Of Manila. authorized by an act OF the Con
porarv 70 urorde for the Of the
Affairs Of civil government in the Philippine Islands
and for other purposes approved July 1, iyu2. .,
$4.0oo.0O0 bonds of that municipality to provide
funds for the construction OF adequate systems OF
SO far completed TO permit work to begin within
a short time. en- April IA. 1905 the philippine ne
the approval OF the President, the issue OF said
bonds follows:
100000 to be dated June l. 1905
$2,00o.000 to be dated January 2. 1907.
$E0oo,0oo to be dated January 2, 1908.
This act which has been approved by the Presi-
dent makes permanent appropriations for the quar-
terly payment OF interest, and also appropriat ties
nuaiy for each 81 900, 600 Of bonds outstanding.
which amount, together with the interest thereon.
Islands for the purpose of constituting sinking
fund for the retirement Of the bonds.
The city of Manila Is without any bonded In
debtedness. Its form OF municipal government is
modelled after that of Washington, D. c., and the
Philippine government contributes 80 per cent Of
the annual expenditures.
The bonds are to be issued In registered form
In the denominations of $4,000 and 81 600 in pro-
portions to suit the purchaser or purchasers
The bonds viii be registered and transferable at
the Office of the Register OF the Treasury Depart
They will be dated June l. 1905. and win bear
interest at the rate OF per centum per annum,
The bonds viii be redeemable at the pleasure Of
the Philippine government after ten years. and
Will be payable in thirty years after date OF is
sue In gold coin Of the United States, principal
and interest payable at the Treasury of the United
States.
Under the terms of the act Of Congress approved
February 9, 1905, amendatory Of the act OF Con-
gress approved July l. 1902, ..alI bonds issued by
the government of the Philippine Islands. or by its
authority. shall be exempt from taxation by the
government OF the United States. by the govern
ment Of the Philippine Islands, OF any politi-
cal or municipal subdivision thereof. by any
municipal subdivision of any state or territory of
the United States. or by the District Of Columbia
acceptance by this ONCE on June isoS at the
subtreasury In New York city, in checks bank
Of bonds viii Be- made at said said subt s
The Secretary Of the Treasury authorizes tho
struction bonds of the city of Manila viii be
eepted by the Treasury Department security
Tor deposits Of the public money of the United
States In national banks whenever further de-
posts may be made: and may be substituted for
United States bonds now held security for de-
posts on condition that the United States bonds
thus released be used security for additional
circulation when, in the Judgment of the Secretary
increase in national bank circulation
The legality Of this issue has been passed upon
by the Attorney General of the United States and
the form Of bond drafted has been approved by
the Secretary Of the Treasury and the Attorney
General.
All bids must be received in the Bureau OF In
sulsr Affairs War Department, Washington D. c.
which time they will be opened in the presence
OF the bidders. No bids received after that day
and hour will be considered.
The responsible subscribers Offering the highest
of 81 600 900.
Inc secretary OF War reserves the right to
Ject any and all bids.
Each bid must be accompanied by a certified
bid. "a ~
delivery on the LIST day Of June will be made
Dy interim certificates. for which 1t is anticipated
the perfected engraved bonds will be substituted on
or before the LIST day OF September.
Envelopes containing bids must be marked Sub
scrlptions for Manila Sewer and Waterworks Con
struction Bonds" and addressed to the Bureau of
d. c.
, Full and detailed nation. especially as to
the financial statement Of the city OF Manila viii
be furnished application
:. G. r. EDWARDS. Colonel U. s. Army.
~ Chief of Bureau