Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-17
TIE NEW CANAL BONDS
DESIGNS SELECTED FOR THE
SECURITIES.

Thomas ]. Sullivan. director of the bureau
of engraving and printing. was IN confer
ence today relative to the new Panama
bonds with Assistant Secretary Keep, who
has returned from a short vacation. AL
though the bureau Is unusually rushed now
in the printing of securities, due to the or
ders of national banks for SIS notes to help
out the shortage In small notes, Mr.. Suili-
expects to have the Panama bonds
ready for issue to purchasers by August l.
The bids for the bonds are to be opened
on the Goth OF this month, but 1t is expected
there will be so many bids, with so many
sorts Of figures to be handled. it will take
a week or ten days to ascertain just who
will get the bonds and how much of them
will be disposed of at this time.
The new bonds are to be In registered
and coupon. in denominations of $50, 500
registered bonds will probably be in
the registered bonds will probably be In
denominations of $4,000 to accommodate
national banks that will use them as Sc
curity for circulation and deposits of gov
eminent money.
The coupon bonds are the most elaborate.
the top bearing an engraving of Liberty
joining the two oceans of the Atlantic and
Pacific. Liberty Is a particularly attractive
looking girl, draped SO to reveal the
outlines Of a classic form. Her head Is
framed In q shell. Her right arm, sup
porting the slightly inclined head rests
upon a rock draped with the United States
flag.
Liberty holds in her left hand caduceus
an emblem of peace and prosperity. Palms
are grouped all around. and at the feet of
the maiden are two conventional dolphins
spouting water into the Atlantic and Pa
cific Their are steamers and sail boats
on all sides about to enter the canal and the
background shows the palms on the shores
o. Panama.
The face of the bond is framed with a
border of ornamental scroll and lathe work,
printed in a distinctive color for each de-
nomination. the sos being in brown, s1C0s
in olive and S1000's In red.
The back of the bonds has elaborate or
lamentations with lathe work. scrolls and
floriation as border. while in the center
of the frame thus formed is the coat-of-
arms of the United States.
The bottom of the 81 900 bonds carries
likeness of Senator Hanna. who was an
enthusiastic canal legislator Senator
Morgan escaped having his face on one
denomination of the bonds by being in
existence. Secretary Shaw considers him
one Of the greatest canal experts in the
world, but as no obligation of the United
States can carry a likeness Of a living
man Senator Morgan was ruled out. The
500 bonds have a portrait of Alexander
Hamilton, and the $40 bonds have the
head Of Balboa, who discovered the Pa
cifc
The registered bonds, as stated. are much
palmer than the coupon. They do not bear
Liberty and an assortment of landscapes.
Their only ornaments outside of the elab-
crate scroll work which frames the prom
Use of the United States to pay, are the
portraits of Balboa, Hamilton and Hanna.
These are placed in the upper right-hand
corner, and in the left is an allegorical
griffin.
The 200 registered bond will bear
portrait of the late President Mckinley.